HLB Renews MoU with MMSDA to Boost Motorcycle Industry

Hong Leong Bank renews its MoU with MMSDA, strengthening support for over 4,000 dealers and Malaysia’s growing gig economy through tailored financial solutions and ecosystem development.

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Hong Leong Bank (HLB) has reaffirmed its commitment to the growth of Malaysia’s motorcycle industry through the renewal of its Memorandum of Understanding (MoU) with the Malaysia Motorcycle and Scooter Dealers Association (MMSDA). The renewed collaboration aims to strengthen HLB’s Motorcycle Dealers Ecosystem, leveraging MMSDA’s expansive network of approximately 4,000 dealers across the country.

Malaysia is currently the 13th largest two-wheeler market globally, with over 61,000 new motorcycle registrations recorded in May 2025 alone. This robust demand reflects the vital role motorcycles play in everyday Malaysian life. This is especially true within the gig economy, which now comprises an estimated 4 million workers, or around 26% of the nation’s workforce.

Motorcycles remain indispensable for last-mile delivery services and daily commuting. This is particularly for gig workers who rely on affordable, accessible, and well-maintained two-wheelers. Recognising this, HLB’s renewed partnership with MMSDA goes beyond mere financing to encompass broader economic empowerment.

“This partnership is about more than just loans. It’s about enabling mobility and economic participation,” said Kevin Lam, Group Managing Director and CEO of HLB. “By supporting the dealer ecosystem, we help ensure motorcycles, parts, and services remain within reach for the people who rely on them most. This reflects our commitment to tailor solutions for communities under our ‘Built Around You’ promise.”

In addition to financial services, HLB is committed to enhancing the operational sustainability of MMSDA’s largely SME-based membership. Through its SME Banking division, HLB offers a suite of tailored financial products. This includes term loans, overdrafts, trade facilities, insurance, and digital business tools. Apart from that, there are essential services such as payroll accounts, online banking, and merchant support.

Yow Kuan Tuck, Managing Director of Business and Corporate Banking at HLB, noted, “We aim to be a long-term strategic partner, offering not just financial solutions, but also insights, advisory support, and access to industry trends. We’re also looking to expand our Shariah-compliant offerings through Hong Leong Islamic Bank to ensure inclusive access for all business owners.”

MMSDA President Datuk Wee Hong welcomed the renewed collaboration, highlighting its significance for the industry’s evolution.

“As the motorcycle market advances, we must embrace digitalisation and new technologies. HLB’s support—especially in facilitating digital transformation and potentially AI funding—is crucial. This MoU ensures our members remain competitive in an evolving landscape.”

This renewal comes shortly after HLB inked a separate MoU with DCAP Digital to enhance SME lending infrastructure, reinforcing the Bank’s broader strategy to drive financial inclusion. That initiative will complement support for motorcycle dealers, streamlining access to the Dealer Hire Purchase Program and related financing services.

Through strategic partnerships like these, HLB continues to position itself as a proactive enabler of Malaysia’s SME and mobility sectors, supporting businesses, communities, and economic resilience nationwide.