First Malayan Leasing and Finance Corporation (Malayan Leasing) is a pioneer in the leasing and financing industry in the Philippines as the company started its operations in 1957. Malayan Leasing is a non-bank financial institution with a quasi-banking license granted by the Bangko Sentral ng Pilipinas. It serves the requirements of corporate, commercial and consumer markets through its innovative loans, leases and investment products.
First Malayan Leasing and Finance Corporation was incorporated in 1957 under the name United Finance Corporation (UFC). In January 1962, Industrial Finance Corporation (IFC) entered into a sale agreement with UFC whereby the former became UFC’s controlling stockholder and general manager. In June 1962, the company changed its name to IFC Service Leasing and Acceptance Corporation.
In June 1974, the stockholders approved the increase of the company’s authorized capital stock to accommodate the entry of Marine Overseas Corporation which acquired 20% of the company’s equity. The word “Service” was dropped from the corporate name, hence it became “IFC Leasing and Acceptance Corporation (IFC-LAC)”.
In early 1981, Marine Midland sold its holding in IFC-LAC to Pan Malayan Management and Investment Corporation (PMMIC). During also that year, the stockholders approved the merger of IFC-LAC and Bacolod IFC, a subsidiary of IFC and a holder of a quasi-banking license allowing IFC-LAC to expand its deposit base. Thereafter, in October 1982, the stockholders approved the change of name of the company to its present name: First Malayan Leasing and Finance Corporation (Malayan Leasing for brevity).
In its quest towards the expansion of its financial services, First Malayan Leasing became a subsidiary of the House of Investments, Inc. in October 1995. The House of Investments is the dynamic conglomerate of Yuchengco Group of Companies (YGC).
Products and Services
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Finance Lease |
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It is an on-book transaction. It is a kind of lease that transfers substantially all the risks and rewards incident to ownership of an asset. Residual value risk is for the account of the lessee.
a. Direct Lease
A leasing package wherein the lessor (FMLFC) buys specified equipment from the supplier and leases the same to the lessee.
b. Sale and Leaseback
A leasing package wherein the client (lessee) sells presently-owned equipment to FMLFC (lessor) to convert fixed assets into cash with the lessor allowing the lessee to retain the full use of the property for a fee over a specified period of time.
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Operating Lease |
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It is an off-book transaction. The residual value risk is for the account of the lessor. |
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Receivables Financing |
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Receivables financing liquefies the client’s receivables. This enables cash to flow faster and sustain sales volume. It also frees capital, which can be profitably re-employed into other business ventures.
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Inventory Financing |
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For manufacturers and dealers in need of inventory at any time, FMLFC provides financing for the purchase of their inventory on a regular basis. This credit facility enables client to augment its stock inventory even during the peak marketing season. This way, funds earmarked to stock up on inventory can now be used for other operating expenses.
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Fixed Assets Financing |
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This enables the business to purchase capital assets such as machinery and delivery equipment on easy monthly amortizations. This financing scheme is designed for business with limited working capital. It provides the borrower with means to spread the cost of owning such imperative assets from two to four years, thus eliminating the burden of an outright capital expenditure. Plus, the amortization scheme can be structured to suit the income or earnings generated from the equipment, matching the seasonal business patterns.
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Multi-Purpose Salary Loan |
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A credit facility available to qualified corporate employees with loan repayment thru salary deduction.
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Car Financing |
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A credit facility available to individuals or business entities for their acquisition of brand new or used motor vehicles.
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Money Market Placement |
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An investment product available to individual and corporate investors that can earn interest at rates usually higher than Treasury Bills rates. Minimum placement can be as low as P50,000.00 pesos only. |
CONTACT US:
Makati City
5th Floor Grepalife Building, 221 Sen. Gil J. Puyat Avenue, Makati City
Tel. Nos. 810-9660; 810-9664; 810-9668; 810-9670; 892-7541 and 892-7544
Fax No. 845-6309
REGIONAL / PROVINCIAL OFFICES
Bacolod
Jona Raquel A. Hechanova
Assistant Manager
Room 204 Sunstar Bldg., Hilado Ext., corner Burgos Street, Bacolod City
Tel. No. (034) 434-3809
Telefax No. (034) 435-2075
Cebu
Margie T. Garcia
Assistant Manager
Room 214 KRC Bldg., Subangdaku Highway, Mandaue City
Tel. No. (032) 345-8642
Telefax No. (032) 346-6202
Cagayan De Oro
Teotimo M. Illana, Jr.
Assistant Manager
2nd Floor Marfori Bldg., Hayes Corrales St., Cagayan De Oro City
Tel. No. (088) 857-2988
Telefax No. (08822) 722-457-3
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