Continued activity is looming from Malaysia, with hire purchase receivables and plantation assets among the cashflows to be securitized. First out of the blocks will be motor vehicle distributor Tan Chong Motor Holdings with a M$164 million ($43.2 million) hire purchase offering.

Arranged by Commerce International Merchant Bankers, the transaction will be the first from a M$600 million asset-backed MTN facility called Premium Commerce Bhd. The program will allow Tan Chong to sell hire purchase assets for the next five-years, while the ABS offerings can have a maximum term of 12-years. Tan Chong will use funds for general working capital requirements.

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