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Malaysia Automotive Finance Industry is expected to grow at a CAGR of ~3% between 2022-2026 owning to increasing passenger car sales, upcoming brand-new car models and strict government regulations: Ken Research

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Malaysia Automotive Finance Market is in the growing stage, being driven by increasing passenger car ownership, emergence of new players, innovation and government initiatives. There are several players in the Malaysia auto finance market some of which are Al Rajhi Bank, Maybank, Affin Bank, CIMB Bank and AmBank group.

  • Government is planning to establish a centralized database for the transport and logistics sectors which would help in greening the Automobile sector that will eventually lead to growth in EV sector.
  • High digitization and usage of new advance technology like AI and ML will improve customer convenience by automating the process, which will led to growth in Malaysia auto finance industry.
  • Malaysian Government is expected to introduce scrapping policy in near future due to which the tenure of loan is expected to fall. People will have to discard their vehicles early and this will also affect the number of loans granted for used car segment.

Upcoming Brand-New Car Models Introduction of state-of-the-art models such with latest designs and features as well as electric vehicles at affordable and competitive prices may assist to sustain buying interest of the customers, leading more auto-loans in future. Furthermore, continuous efforts to fulfill backlogged orders and promotional campaigns by car companies are also in progress.

Promotion of National Auto-manufacturing: Government has been taking various initiatives to promote domestic vehicle manufacturing industry. It provides various benefits to national car buyers. Companies like Proton and Perodua are being set up to manufacture cars domestically.

Boosting second hand vehicle sales: Government has taken several step like Strict Puspakom inspection to ensure that the used car dealers are protected from the risk associated with sourcing, such as trading cars with pre-existing issues, in-scope components condition, or reported beyond economical repair in order to increase the sale of the used car in Malaysia.

Government Regulations promoting automotive industry: The National Automotive Vision is to make Malaysia a hub for exports of vehicles, exports of components and spare parts, automotive research and development (R&D), development of automotive and mobility related technologies, vehicle and component testing. The Hire-Purchase Act,1967 is a Malaysian law which enacted to regulate the form and contents of hire-purchase agreements, the rights and duties of parties to such agreements and to make provisions for other matters connected therewith and incidental thereto.

Analysts at Ken Research in their latest publication- Malaysia Automotive Finance – Market Outlook to 2026-Driven by exorbitant car prices, growing digital penetration, preference for owning passenger cars amidst systematically regulated car ownership policies by the Government by Ken Research provides a comprehensive analysis of the potential of Automotive Finance Industry in Malaysia. The rising demand for new and used cars among the population, along with the easy availability of finance and low interest rates along with some government initiatives will promote this industry over the forecast period. The Malaysia Automotive Finance Market is expected to grow at a CAGR of 2.98% over the forecasted period 2022F-2026F.

Key Segments Covered:-

Malaysia Automotive Finance Market

By Distribution Channels

  • OEMs
  • Banks
  • NBFCs
  • Commercial Banks
  • Investment Bank
  • Islamic Banks

By type of Vehicles

  • Passenger
  • Commercial

By tenure of Loan

  • 0-5 years
  • 6-7 years
  • 8-9 years

By condition of Vehicle

  • New
  • Old

To learn more about this report Download a Free Sample Report

By Region

  • Central
  • Southern
  • Eastern
  • Northern
  • Other

Key Target Audience:-

  • Auto Finance Providers
  • Insurance companies
  • Car Manufacturers
  • financial service provider
  • NBFCs
  • fin-tech companies
  • Global automotive finance companies
  • Government Bodies & Regulating Authorities

Time Period Captured in the Report:-

  • Historical Year: 2016-2021
  • Base Year: 2021
  • Forecast Period: 2022F– 2026F

Visit this Link Request for custom report

Companies Covered:-

Auto Finance Providers

  • Maybank
  • Public Bank
  • CIMB
  • Hong Leong
  • AmBank
  • RHB Bank
  • Affin Bank
  • Bank Simpanan Nasional

Key Topics Covered in the Report:-

  • Malaysia Automotive Finance Market Overview
  • Ecosystem of Malaysia Automotive Finance Market
  • Business Cycle and Genesis of Malaysia Automotive Finance Market
  • Export and Import Overview of Malaysia Automotive market
  • Industry Analysis of Malaysia Automotive Finance Market
  • SWOT Analysis of Malaysia Automotive Finance Market
  • Malaysia Auto-finance market Value Chain
  • Non-Performing Assets in Auto-finance Segment
  • Major types of Auto loans in Malaysia
  • Key Growth Drivers in Auto Finance Market in Malaysia
  • Major Challenges and Bottlenecks in Malaysia Automotive Finance Market
  • Regulatory Framework in Malaysia Automotive Finance Market
  • Competitive Landscape in in Malaysia Automotive Finance Market
  • Market Share of Major Auto Finance Providers in Malaysia Automotive Finance Market
  • Detailed Analysis on Malaysia Automotive Finance Market (Market Size and Segmentation, 2016-2022; Future Market Size and Segmentation, 2023-2027F)
  • Market Opportunity and Analyst Recommendations

For more insights on the market intelligence, refer to the link below:-

Malaysia Automotive Finance Market

Related Reports By Ken Research:- 

UAE Auto Finance Market Outlook to 2026F – Driven by growing digital penetration, evolving vehicle ownership characteristics and rebates by the Government amidst systematically regulated vehicle ownership and financing policies by the regulatory authorities

According to Ken Research estimates, that UAE Auto Finance Market has decreased from 2016 to 2021 at a CAGR of -6.3% owing to government regulations, lifestyle changes and the COVID-19 lockdown but in the upcoming period, the growth is expected to normalize owing to the emergence of new and improved technologies. UAE Auto Finance Market is estimated to grow at a positive CAGR of ~17% in between 2022E and 2026F.

KSA Auto Finance Market Outlook to 2026F– Driven by Women Entering the Market, Growing Private Entities and Initiatives by the Government

KSA Auto Finance Market is in growing stage, being driven by banks and NBFCs and introduction of Fin-Tech companies and online personal loan aggregator platforms. The credit disbursed market fell and experienced a downfall due to factors like Covid outbreak and semiconductor chip shortage. Automotive sales were also affected by higher shipping costs in 2021 as prices of shipping containers container freight rates have risen steeply. Higher prices were shifted to the consumers leading to increase in credit disbursed. However, the market is recovering and registering a positive growth since 2021. Entry of women drivers in the market has led to an increase in the total cars sold and hence the credit disbursed in automotive sector.

Singapore Auto Finance Market Outlook to 2025 (Edition II) – Driven by exorbitant Car Prices, Growing Digital Penetration and evolving Vehicle Ownership Characteristics amidst Systemically Regulated Car Ownership Policies by the Government

The Singapore Auto Finance Market was observed to be in maturity stage during the period of 2015-2020 despite growing digital advancements to ease loan application process, emerging green car loans and introduction of finance aggregators. This is due to the strict regulations of government in terms of maintaining the on-road vehicles. The Singapore Auto Finance Industry had shrunk at a CAGR of ~0.1% on the basis of Auto credit disbursed and slightly grown at ~1.5% basis Auto Loan Outstanding in 2015-20. The CAGR was comparatively low owing to less number of cars financed in 2020 due to COVID – 19.

Vietnam Auto Finance Market Outlook to 2026F– Driven by Digital Penetration and Dominance of Banks along with a Shift in Consumer Preference form 2W to 4W

Vietnam’s Cold Chain market was evaluated to grow at a double-digit CAGR during 2016-2021. The market is currently in the growth stage owing to lower interest rates along with increasing government initiatives and investments in the sector. The Pandemic has resulted in the slow growth of Auto Finance where Vietnamese preferred to own a private vehicle to avoid public transportation. The growing penetration of the internet and smartphones and the rising purchasing power of the middle class resulted in changing preferences of consumers which are some of the key factors fueling the Auto Finance Market in Vietnam.

Philippines Auto Finance Market Outlook to 2026- Driven by change in consumer spending, ease in provision of loans, improving technology and government support

Philippines is 2nd fastest growing vehicle market in ASEAN with Commercial vehicles with higher market share and the market has observed the maximum growth in the automotive industry in ASEAN Countries, with automotive loan outstanding growth in the last five years mainly due to population increase and economic growth. The Auto Finance Market is in the Growing Phase with Banking Institutions and NBFCs leading the Market and Online Aggregators Platforms entering the Market with the Introduction of Online Personal Loan aggregator Platforms in the market to provide ease in vendor selection process like BSP pay, Pesopay are among the top aggregator, Better Technological Infrastructure in the form of growing Auto Finance platforms and rising usage of AI and ML for better Auto lending experience will lead the future growth of the industry. Innovative Business Models such as Subscription Lending & shared ownership may grow in future to increase car financing. The market is still expected to a good growth in Auto Finance Market of Philippines.

Artificial Intelligence

Ancoris Recognised as Top Place to Work for Second Year Running by The Sunday Times

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Ancoris recognised for fostering a sense of empowerment and respect within the workplace91% of Ancoris employees feel empowered at work93% of employees say that are treated with respectLONDON, May 21, 2024 /PRNewswire/ — Ancoris, a UK-based Google Cloud services provider, has been named a Top Medium Business in The Sunday Times 2024 Best Places to Work list. The accolade has been awarded for the second year in a row, and recognises Ancoris’ focus on DEI; its commitment to empowerment, reward, and recognition; and its wellbeing policies and frameworks.

“I am so pleased to see Ancoris recognised, once again, as a top place to work!” says Andre Azevedo, Ancoris CEO. “Ancoris is a place where we try our best to foster collaboration, empowerment, innovation, and respect – so to have our employees echo this and respond in the way they have is amazing.”
The Sunday Times survey captured Ancoris employees’ responses in a number of categories: Reward and Recognition, Information Sharing, Empowerment, Wellbeing, Instilling Pride, and Job Satisfaction. The independently managed survey showed Ancoris scoring “excellent” across all six engagement categories, with top scores in Empowerment, Wellbeing, Reward & Recognition. In response, 93% of employees say they are treated with respect; 92% feel trusted and able to make decisions; and 91% of employees feel empowered at work.
“We’ve seen a lot of change over the last 12 months. The rise of Generative AI has caused shifts in our market and  economic conditions are causing customers to really qualify where they make technology investments. These pivots undoubtedly have an impact on our employees and how people feel at work,” Azevedo continues. “I truly believe, however, the innovative work we are doing for our customers has helped us maintain and create an even stronger sense of collaboration and pride for our team members. We’re lucky to have so many smart people within our business, so continuing to give them interesting, challenging, and rewarding problems to solve for our customers is really key.”
About AncorisAncoris is a leading Google Cloud Services Provider, headquartered in the UK, on a mission to become the most innovative Google Cloud partner in the ecosystem. Ancoris leverages its strong problem solving skills and continuous improvement approach to help customers become AI Native and stay ahead of their competition. Ancoris has extensive experience in Google Cloud technologies helping enterprises integrate AI-native solutions into their business through expertise in Data & AI, Application and Infrastructure Modernisation, Workspace, and Maps. Ancoris was recognized as a Rising Star for Data, Analytics, and Machine Learning in the ISG Provider™ Lens for Google Cloud Partner Ecosystem in 2022 and 2023 consecutively, and awarded Google Cloud’s 2024 EMEA Public Sector Partner of the Year award. Ancoris employs the best in the business and was named in the Top 10 Sunday Times Best Places to Work 2023, and a Top Place to Work in 2024.
Contact: Holly [email protected]
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Department of Health – Abu Dhabi Partners with Roche Pharmaceuticals Middle East to Elevate Research, Clinical Trials, and Real-World Data

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ABU DHABI, UAE, May 21, 2024 /PRNewswire/ — The Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the Emirate, signed a Memorandum of Understanding (MoU) with Roche Pharmaceuticals Middle East during Abu Dhabi Global Healthcare Week (ADGHW). Under the MoU, the two entities will advance critical research using real-world data to study and assess the spinal muscular atrophy burden in Abu Dhabi, as well as assessing potential conduction of research and the facilitation of real-world data collection to monitor Duchenne Muscular Dystrophy (DMD) disease.

 
 
In the presence of Dr. Rashed Alsuwaidi, the Executive Director of the Healthcare Workforce Planning Sector at DoH and Michael Oberreiter, Head of Global Access at Roche Pharmaceuticals, the MoU was signed by Dr. Asma Al Mannaei, the Executive Director of the Research and Innovation Centre at DoH and Mohamed Elshaarawy, General Manager Roche Pharmaceuticals, UAE.
Dr. Asma Ibrahim Al Mannaei, Executive Director of the Research and Innovation Center at the at DoH said: “Abu Dhabi has a track record of excellence and fast-growing, future-forward, data-enabled services. Serving as a hub for healthcare data, Abu Dhabi’s substantial computing power enables it to harness the potential within this data, transforming it into valuable information. This, in turn, allows us to innovate and develop novel approaches to shift healthcare towards prediction, prevention, and treatment, thereby accelerating the future of healthcare, not only for Abu Dhabi but for the global community. Through international collaborations, Abu Dhabi seeks to lead research groups supported by global partners to explore the resilience and sustainability of the healthcare sector worldwide as well as expand access to quality care for patients around the world.”
The two entities will work together to support the evolution of real-world data collection frameworks in Abu Dhabi. Enhancing DoH’s ability to track and monitor outcomes of therapies will support DoH in making informed clinical and policy decisions for better optimisation of patient outcomes. Furthermore, DoH and Roche will strengthen the research network across Abu Dhabi and improve accrual for potential clinical trials.
Mohamed Elshaarawy, General Manager Roche Pharmaceuticals, UAE said: “This MoU underscores our collaboration with the DoH which is fuelled by a shared vision of harnessing the power of data to drive informed decision-making within the healthcare system. Data-driven healthcare systems hold immense potential to revolutionise patient care and outcomes. Through the generation, utilisation, and realisation of data, healthcare professionals and policymakers can unlock valuable insights, identify trends, and make evidence-based decisions. This data-driven approach enables us to optimise resource allocation, personalise treatment approaches, and ultimately achieve better patient outcomes. By harnessing the full potential of data, we can improve the overall efficiency and effectiveness of the healthcare system, ensuring that every patient receives the highest quality of care tailored to their specific needs. We are sincerely grateful for the trust, confidence, and empowerment the DoH has placed in establishing this effective public-private partnership with Roche in the UAE.”
Held under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, ADGHW is a major government initiative by the DoH, which took place from the 13th -15th May 2024.
For more information please visit: https://www.adghw.com/
About Department of Health – Abu Dhabi (DoH):
The DoH is the regulatory body of the healthcare sector at the Emirate of Abu Dhabi and ensures excellence in healthcare by monitoring the health status of the population. DoH defines the strategy for the health system, monitors and analyses the health status of the population and performance of the system. In addition, DoH shapes the regulatory framework for the health system, inspects against regulations, enforce standards, and encourages adoption of world-class best practices and performance targets by all healthcare service providers in the Emirate. DoH also drives programmes to increase awareness and adoption of healthy living standards among the residents of the Emirate of Abu Dhabi in addition to regulating scope of services, premiums and reimbursement rates of the health system.
For further information on DoH, visit https://www.doh.gov.ae/ and follow on X, Instagram, Facebook, LinkedIn and YouTube.
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Biopharma Leaders Shape the Future of Drug Development at Veeva R&D and Quality Summit Europe

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Ascendis, Bayer, Boehringer Ingelheim, Jazz Pharmaceuticals, Novo Nordisk, Sanofi, and Teva to keynote sharing innovations to drive better patient outcomes
BARCELONA, Spain, May 21, 2024 /PRNewswire/ — Veeva Systems (NYSE: VEEV) today announced that leaders from Ascendis Pharma A/S, Bayer, Boehringer Ingelheim, Jazz Pharmaceuticals, Novo Nordisk, Sanofi, and Teva will be keynote speakers at Veeva R&D and Quality Summit, Europe, June 4-5 in Madrid, Spain. Life sciences professionals across the industry will come together to share how connected technologies across clinical, regulatory, safety, and quality are advancing innovations for patients.

As one of the largest gatherings of biopharma leaders in Europe, Veeva R&D and Quality Summit will bring together over 1,000 industry professionals to share learnings across more than 100 sessions. Bayer and Jazz Pharmaceuticals will join Rik Van Mol, senior vice president of Veeva Development Cloud, and Avril England, general manager of Veeva Vault, for the opening keynote to explore the future of development for new medicines and therapies.
The event’s zone keynotes include:
Ascendis and Bayer, sharing strategies to reduce costs and accelerate trials with a connected platform.Boehringer Ingelheim, detailing its shift toward data-centric regulatory information management.Novo Nordisk, showing how it uses data and AI to transform clinical research.Sanofi, explaining its innovative approach to advance quality through operational excellence.Teva, providing insight into its rapid journey from disparate safety systems into one streamlined global solution.A panel with Elpida Therapeutics CEO Terry Pirovolakis and Veeva experts will close the event with a discussion on how the industry can best accelerate the development of life-saving rare disease gene therapies.
“Connecting clinical, regulatory, safety, and quality is key to advancing the product lifecycle and delivering better outcomes for patients,” says Rik Van Mol, senior vice president of Veeva Development Cloud. “At Veeva R&D and Quality Summit, biopharma leaders can connect, exchange ideas, and share new strategies to advance the industry forward together.”
Veeva R&D and Quality Summit is open exclusively to life sciences professionals. Register and review the agenda at veeva.com/eu/Summit.
Additional InformationConnect with Veeva on LinkedIn: linkedin.com/company/veeva-systems
About Veeva SystemsVeeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world’s largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com/eu.
Veeva Forward-looking StatementsThis release contains forward-looking statements regarding Veeva’s products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-K for the fiscal year ended January 31, 2024, which you can find here (a summary of risks which may impact our business can be found on pages 9 and 10), and in our subsequent SEC filings, which you can access at sec.gov.
Contact:
Jeremy WhittakerVeeva [email protected]
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