News & Events

 
Date: 03/07/2007 
 
"SME Credit Bureau will further enhance SMEs' access to financing,..Bernama Online" 
 
KUALA LUMPUR, July 3 (Bernama) -- The SME Credit Bureau, a central databank of credit information on small and medium-sized enterprises (SMEs) in Malaysia, will be fully operational by the end of 2008.

The bureau will further enhance SMEs' access to financing, said Datuk Wan Azhar Wan Ahmad, chief executive officer of Credit Guarantee Corp Malaysia Bhd (CGC).

"We expect to be able to make available some of these credit reports within the first or second quarter of next year. But at the latest by the end of next year, we will be able to provide a full range of services," he told reporters after the signing of a strategic alliance with Dun & Bradstreet Malaysia Sdn Bhd to establish the SME Credit Bureau.

"The setting up of the bureau is not a recent decision. This was actually made last year when CGC formulated the three-year business transformation plan, and part of the plan to provide a complete range of services for SMEs," Wan Azhar said.
"The idea is to consolidate all the information. This will also give a better picture of the viability of doing business in a particular sector relating to a particular SME," he said.

"It will be combined with the rating of the SMEs themselves. We have talked about our plan to have SMEs rated and this bureau will be taking on that responsibility," he added.

Group executive director of Dun & Bradstreet Malaysia and Singapore, William Lim Wah Liang, said Malaysia has taken the lead among Asean countries to set up an official credit bureau supported by government.

CGC, a subsidiary of Bank Negara Malaysia, is in the business of providing credit enhancement services to SMEs in Malaysia, a niche area where the corporation has served for 35 years. Dun & Bradstreet Malaysia is a subsidiary of New York-based D&B Corp, a global provider of credit bureau and risk management solutions.