Hong Leong Bank renews partnership to support 2-wheeler industry

KUALA LUMPUR: Hong Leong Bank (HLB) has renewed its memorandum of understanding (MOU) with the Malaysia Motorcycle and Scooter Dealers Association (MMSDA), reinforcing their commitment to support and grow the two-wheeler industry in Malaysia.

In a statement, HLB said this partnership has been crucial in the bank leveraging MMSDA's 4,000 motorcycle dealer members nationwide.

Malaysia boasts the 13th largest two-wheeler market in the world, with over 61,000 new motorcycle registrations in May 2025 alone.

This significant volume underscores the vital role motorcycles play in the Malaysian economy, particularly within the burgeoning gig economy, which engages 4 million individuals, or around 26% of the Malaysian workforce.

This highlights a rapidly expanding sector where short-term, project-based work is increasingly prevalent, heavily relying on the agility and reach of motorcycles as the backbone of last-mile delivery services in Malaysia.

A robust and well-supported motorcycle dealer network is therefore essential to ensure these vehicles remain accessible, affordable, and well-maintained, directly empowering gig workers and countless other Malaysians who depend on motorcycles for their livelihoods and daily commutes.

"This renewed collaboration goes beyond just financing; it's about enabling mobility and economic participation for countless Malaysians," said HLB group managing director and CEO Kevin Lam.

HLB managing director of business and corporate banking Yow Kuan Tuck commented, "We provide customers with tailored financial solutions, including essential offerings like term loans, overdraft and trade facilities, insurance products, and robust cash management services such as current accounts, fixed deposits, payroll accounts, and online banking."

"We also provide payments & merchants services and cutting-edged digital business solutions to help them grow and adapt, while also exploring the development of Shariah-compliant products through Hong Leong Islamic Bank."

"Besides that, we also offer our members valuable insights, advisory, networking opportunities, and updates on key industry developments that can impact their businesses."

MMSDA president Datuk Wee Hong said, "Our renewed MOU with HLB reflects our continued commitment to equipping our members with essential financial tools, advisory services, and support. To move forward, the motorcycle industry must boldly embrace digitalization and new technologies."

HLB also recently signed an MOU with DCAP Digital to significantly enhance its SME lending solutions infrastructure, making financing more accessible and efficient.

This partnership will allow HLB to offer significant support for its growing pool of motorcycle dealer customers, streamlining their loan applications and accelerating access to its Dealer Hire Purchase Program, along with other essential financing solutions like cash management and trade line services.