By CHEN HUIFEN
SINGAPORE is getting ready to ride on increased oil and gas activities in Asia, and it is seeking new partners among oil and gas producers in the Middle East to support the growth in the region, according to Minister for Trade and Industry George Yeo."
While this article isn't about Chapter 11, it is a well written article that sure makes a strong case for business credit insurance (read it all). Here is an excerpt:
"On the sidelines of the event, Vitol Asia president Kho Hui Meng also suggested that Singapore find more ways to co-operate with neighbouring countries to spur more activities in Asean as well.
One possibility would be to introduce credit insurance for Singapore-based companies dealing with trade in Indonesia.
'From time to time, Indonesia oil companies encounter a tight credit squeeze,' said Mr Kho. 'If a Singapore agency can offer a Singapore company credit insurance, in addition to (credit offered by) traditional banks, then the Singapore company will have a cost as well as capacity advantage to compete in that market.
'And this is what we found in the case of the Japanese government. They provide export credit and this gives the Japanese companies an edge in doing business in Indonesia.'
According to Mr Kho, credit insurance provides companies with protection against the risk of non-payment by buyers arising from commercial and non-commercial risks."
That's a pretty accurate description Mr. Kho. And, you realize that credit insurance gives a competetive edge. You are a smart man. Credit terms can be a powerful selling tool.
Business Credit Insurance
Good article
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