Diesel Subsidy Rationalization: What Changed?
On June 10, 2024, the Malaysian government implemented diesel subsidy restructuring in Peninsular Malaysia. The price increased from RM2.15 to RM3.35 per liter - a 55% jump that immediately impacted logistics operators' operating costs.
The first week after rationalization showed a 30% reduction in total diesel sold, demonstrating the policy's effectiveness in curbing smuggling and unauthorized use. However, legitimate logistics businesses faced higher operating expenses.
Price Impact Analysis
- RM1.20/liter increase adds significant costs per trip
- SKDS 2.0 available for eligible commercial vehicles
- Sabah, Sarawak, Labuan maintained at RM2.15/liter
- RON95 reform expected mid-2025 for top 15% earners
SKDS 2.0: Your Fleet Card for Subsidized Diesel
The Sistem Kad Diesel Subsidi (SKDS) 2.0 provides commercial logistics vehicles access to subsidized diesel at approved stations. This fleet card system helps legitimate operators manage fuel costs.
SKDS 2.0 Eligibility & Benefits
- Commercial logistics vehicles - Goods transportation operators
- Subsidized diesel access at approved stations nationwide
- Streamlined purchasing - Reduced administrative burden
- Cost control - Better fuel expense management
Action Item: Apply through KPDN with your commercial vehicle documentation including PG11A, VR 1, JPJ K1 form, vehicle weighing letter, and PUSPAKOM certificate.
Smart Lorry Financing for High Diesel Cost Environment
With higher fuel prices, preserving cash flow is more critical than ever. Ing Heng Credit offers lorry financing solutions designed for logistics operators facing rising costs:
0% Down Payment
Preserve cash for diesel expenses and operations. No upfront payment means more working capital for fuel.
24-48 Hour Approval
Fast financing when you need to continue operations. WhatsApp your documents for immediate processing.
Up to 7 Years Tenure
Lower monthly payments help manage cash flow when operating costs rise.
Rates from 2.88% p.a.
Competitive flat rates help maximize profitability despite higher diesel costs.
Required Documents for Lorry Financing
What You Need to Apply
- Company Registration (SSM) - Form 9 & 24/49
- Bank Statements - Latest 3 months
- IC Copy - MyKad of all directors
- Lorry Quotation - From dealer or seller
- JPJ & PUSPAKOM Documents - Valid vehicle documentation
Frequently Asked Questions
How does the RM3.35/liter diesel price affect my lorry business?
The 55% diesel price increase from RM2.15 to RM3.35/liter in June 2024 significantly impacts operating costs. For logistics operators, this means higher fuel expenses per trip. However, with SKDS 2.0 fleet card, eligible commercial vehicles can access subsidized diesel, reducing costs. Smart lorry financing with 0% down payment helps preserve cash flow to absorb these changes.
What is SKDS 2.0 and how do I apply?
SKDS 2.0 (Sistem Kad Diesel Subsidi) is a fleet card system that provides subsidized diesel for commercial logistics vehicles. To apply, register through KPDN with your commercial vehicle documentation including PG11A inspection report, VR 1 vehicle inspection, JPJ form K1, vehicle weighing letter, and PUSPAKOM certificate disc. Eligible operators receive fleet cards for approved stations.
Can I get lorry financing with 0% down payment to manage diesel costs?
Yes! Ing Heng Credit offers 0% down payment for qualified applicants. This preserves your working capital for diesel expenses, driver wages, and operations. With fuel prices higher, keeping cash flow flexible is critical for logistics businesses.
How fast can I get approved for lorry financing?
We provide approval within 24-48 hours for complete applications. With diesel costs impacting operations daily, fast financing helps you continue operations without interruption. WhatsApp your documents for immediate processing.
What is the loan tenure for lorry financing?
Lorry financing tenure extends up to 7 years (84 months). Longer tenure means lower monthly payments, helping you manage cash flow while dealing with increased diesel prices. This flexibility is crucial when operating costs rise.