/TC Capital Resources offers restructuring, partial repayments, rescheduling on loans – no moratorium

TC Capital Resources offers restructuring, partial repayments, rescheduling on loans – no moratorium

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Following yesterday’s announcement by Bank Negara Malaysia (BNM) whereby all banks will have to grant an automatic six-month payment moratorium (deferment) of all loan/financing repayments beginning from April 1, 2020, TC Capital Resources (TCCR) has since issued a statement in response to the matter.

The company is a wholly-owned subsidiary of Tan Chong Motor and a credit service provider providing hire purchase financing packages and leasing, especially for Nissan vehicles. It said that it would not offer the six-month moratorium to existing customers, as it isn’t a bank, but will provide options to those that have been affected financially by the Covid-19 pandemic.

These include partial repayments, rescheduling and restructuring of customers’ financing or leasing plans, which are subject to reassessment on a case by case basis. The company is ready to answer any queries from customers via its hotline (03-4047 8662) or email (tccr@tanchonggroup.com).