08 November 2012

Daimler Financial Services establishes new subsidiary in Kuala Lumpur, Malaysia

- Investment of approximately €5 million 
- The subsidiary already counts a team of 40 employees 

Kuala Lumpur, Malaysia - 07 November 2012 - Daimler Financial Services has established a new subsidiary in Malaysia. With the launch of Mercedes-Benz Services Malaysia Sdn Bhd in Kuala Lumpur, the company has successfully set up its financial services business in the country. The subsidiary already counts a team of 40 employees dedicated to providing outstanding customer service. As a result, Malaysian customers can now take full advantage of the broad range of attractive automotive financial services offered by Mercedes-Benz Financial, FUSO Financial and Mercedes-Benz Insurance Services. With the launch of the Malaysian subsidiary, Daimler’s financial services arm is now represented in 40 countries worldwide. 

Entering the market in Malaysia is an important step that will help secure our lasting profitable growth,” said Klaus Entenmann, the Chairman of Daimler Financial Services, at a press conference in Kuala Lumpur on Wednesday. “What's more, we are pleased that our local customers will now also enjoy our automotive financial services, which meet the highest international standards.” 

Mercedes-Benz Services provides customers in Malaysia with a one-stop shop from which they can choose the products that best meet their needs. Mercedes-Benz Services Malaysia also offers its customers the insurance solutions of Mercedes-Benz Insurance Services, which are underwritten by its strategic partners Allianz and AXA. Its state-of-the-art comprehensive motor insurance packages insure vehicles against damage and loss. Mercedes Benz Services will also be launching payment protection insurance within the next few days, and plans to introduce an attractive courtesy car program at the beginning of next year. 

“We have the right solutions for a wide range of customer needs,” said Hilke Janssen, the Managing Director of the new Mercedes-Benz Services Malaysia subsidiary in Kuala Lumpur. “Financing options for our Mercedes-Benz and FUSO dealers are also available

Mercedes-Benz Services places particular emphasis on ways to enhance its digital sales channels. For example, it has included a financial calculator on the Mercedes-Benz Malaysia website. The company is also currently launching the ‘myMBFS’ iPhone app, which enables customers to select a car model, calculate monthly installments and access information on promotions. In addition to conventional service channels, customers can submit service inquiries from anywhere at any time via Mercedes-Benz Services web-based applications. 

According to a recent World Bank study, Malaysia is among the world's most attractive places to invest. Accordingly, Daimler Financial Services has invested around €5 million in the establishment of its new national subsidiary. The start of business operations highlights the growing importance of the country's automotive market. 

Daimler Financial Services has a global workforce of approximately 7,000 employees. In 2011, the company managed financing and leasing contracts worth a total of approximately €72 billion. 

Source: Daimler