Cambodia Investment Review
In an exciting development for car buyers in Cambodia, Wing Bank (Cambodia) Plc and RMA (Cambodia) Plc announced a partnership that aims to make car ownership more accessible. The new partnership features a car loan program with zero down payment, no interest payments for the first year, and loan amounts of up to 100% of the car’s purchase price.
The official memorandum of understanding (MoU) signing ceremony took place on Friday, April 28, 2023, with Wing Bank CEO Han Peng Kwang and RMA Cambodia CEO Ngorn Saing representing their respective companies. The event also saw the attendance of distinguished guests and management from both parties.
Partnership aims to provide simple and quick approval
“We are excited to partner with RMA Cambodia to offer this fantastic deal to our customers,” said Han Peng Kwang, CEO of Wing Bank. “We believe that everyone deserves the chance to own their dream car, and with our zero down payment and 12-month zero interest payment offer, we like to make that dream become a reality for numerous Cambodians and expats alike.”
Read more: Wing Bank ready to implement vision of ‘a bank for every Cambodian’
The partnership aims to provide customers with a simple and quick way to own their desired Ford automobile. RMA Cambodia holds the exclusive authorized distributorship of Ford Vehicle Sales and Service in the Cambodian market, while Wing Bank enjoys a strong presence in the Kingdom.
Wing Bank has committed to approving loans quickly upon receiving the necessary documents and the applicant’s successful passage through the bank’s screening process. The terms and conditions of the car loans are described as ‘extremely attractive,’ with loan amounts up to 100% of the car’s purchase price with a maximum amount of US$100,000.
Ngorn Saing, CEO of RMA (Cambodia), commented on the partnership, saying, “Customers interested in owning a Ford vehicle can now take advantage of a special promotion offering zero down payment and 12 months with zero interest payments.” He also noted that this offer applies to Ford models such as the 2022 Wildtrak, Everest, EcoSport, and Territory.
Saing expressed enthusiasm about the future of the partnership, stating, “This is the first time that RMA (Cambodia) has partnered with Wing Bank to provide this special offer. This is just the beginning of our partnership, and we are excited for what is to come.”
Established partnerships with outsource service centers
To further enhance services, Ford has extended its range of auto parts and repair services to provinces such as Kampong Cham and Siem Reap. Saing added, “We have also established partnerships with outsource service centers across 25 cities and provinces in Cambodia to offer top-quality maintenance and repair services. Our Call Center is now operational, providing quick and efficient customer service inquiries as well as direct access to our experts.”
Customers interested in the offer can visit Ford showrooms in Phnom Penh or other provinces, including Kampong Cham and Siem Reap, to learn more about the car loan program and apply through Wing Bank. This partnership represents a significant opportunity for customers to own a new Ford with flexible payment options.
