Our Customers Our Priority

On 25 March 2020, Bank Negara Malaysia (BNM) announced the six-month loan repayment moratorium initiative to lessen the financial burden of fellow Malaysians during this challenging period brought about by the Movement Control Order (MCO). The moratorium applies to borrowers / customers from banks and development financial institutions (DFIs) who are regulated by BNM.

The moratorium however does not apply to Parkson Credit customers as it is a non-bank credit provider. Hence we would like to advise our customers to continue observing their respective repayment schedule via our available payment channels.

Nevertheless, as a socially responsible company during this challenging period, we are always ready to help our customers in the time of need as our customers are our priority.

For customers affected by Covid-19 related difficulties and challenges, please reach us at our Covid-19 Affected Support channel.

IDEAL Care Protects Your Investment by Paying Your Monthly Instalment Repayments During Difficult Times

In the bitter reality that befalls all of us during the Covid-19 pandemic, nothing offers better peace of mind than your decision of choosing IDEAL Care.

IDEAL Care offers Credit Protection Insurance for Involuntary Job Loss. Should a customer covered by the IDEAL Care insurance be retrenched during this difficult time, he/she can claim credit protection by submitting a claim.

Once approved, IDEAL Care will pay 6 months of the customer’s monthly instalment repayments, alleviating any suffering during unemployment.

For more information, you can visit our IDEAL Care page here (http://www.parksoncredit.com.my/product-idealcare.php?l=en)

Already have IDEAL Care and want to make a claim? Leave us your contact details here (http://www.parksoncredit.com.my/enquiry-form.php?l=en) and our Customer Service Officers will assist you.

Accessible Payment Channels for Our Customers

During the Movement Control Order (MCO), payment over the counter at Parkson Department Stores will not be available as the stores will be closed from 18 March to 12 May 2020.

To ensure your instalment payments are not interrupted, you may consider online payment from the safety of your home. Details on how to make online payments can be found on our payment network page at https://www.parksoncredit.com.my/payment-internet.php?l=en.

Covid-19 Affected Support

On the other hand, if you are affected by Covid-19 related difficulties in making payment, you may seek out our Covid-19 Affected Support or ‘i-tolong’. We are ready to help.

Because We Care, Let’s Stay Safe Together

Following the announcement of the nationwide Movement Control Order by the Malaysian Government to combat the spread of Covid-19 virus, all our offices will be closed from 18 March to 12 May 2020.

Parkson Credit is fully committed to ensure all our staffs, customers and the community do not come into harm during this period hence the closure is absolutely necessary to mitigate the spread of the virus.

Our Customer Service Enquiry Channels such as Email, Online Submission and Customer Telephone Enquiries will remain open for the convenience of our customers who wish to reach us. We seek your understanding and patience for any shortfall in the response to our customers during this restrictive period.

Please take all precautions during this time for your health and safety, and for your loved ones too.

Thank you and let’s stay safe together.

Parkson Credit Raises RM150m Through HSBC Facility

Source: The Star Online, 13th March 2020, https://www.thestar.com.my/business/business-news/2020/03/13/parkson-credit-raises-rm150m-through-hsbc-facility

KUALA LUMPUR: Parkson Credit Sdn Bhd (Parkson Credit) has raised RM150mil through HSBC Malaysia’s bespoke receivables purchase facility.

The bank said on Friday the proceeds from the facility will be used to finance Parkson Credit’s expansion in Malaysia; a key initiative in tandem with the company’s strategy to increase its local footprint.

Hong Kong listed Parkson Retail Group Ltd owns 70% of Parkson Credit and the remaining 30% by Bursa Malaysia listed Parkson Holdings Bhd.

The company provides consumer loans to individuals for the purchase of motorcycles and other consumer goods.
HSBC Malaysia has been providing financial support to Parkson Credit since the company’s inception in 2014.

In addition to facilitating the company’s expansion within the country, the Receivables Purchase Facility will play a crucial role in boosting Parkson Credit’s financing business.

“Clients increasingly require scalable yet flexible financial solutions that will support their development and expansion. HSBC is excited to continue supporting Parkson Credit in Malaysia with financial services that will help propel their business and enable them to achieve their growth ambitions.”, said Omar Mahmoud, head of global banking, HSBC Malaysia.

Danny Poh, senior general manager of Parkson Credit said the facility supports Parkson Credit’s business growth via the efficient application of collateral with enhanced flexibility and scalability.

“The bank’s understanding of our business and their development of tailor-made financing solutions that accommodate our growth strategies continue to make HSBC our partner of choice and have been the fundamental basis of our continued working relationship.” Poh said.

Christina Cheah, head of large local corporates, global banking, HSBC Malaysia said achieving and maintaining an efficient and flexible cash flow is essential to the success of growing businesses.

“HSBC’s receivables finance solutions help organisations free up working capital to keep their business running smoothly while allowing them to focus on other strategic initiatives”, Cheah said.