Mainboard-listed Credit Bureau Asia has, through its subsidiary, Dun & Bradstreet (Singapore), signed a strategic collaboration and exclusive partnership memorandum of understanding (MOU) with Credit Counselling Singapore (CCS) on July 8.
The partnership and collaboration are to help sole proprietors, partnership businesses and small- and medium enterprises (SMEs) in Singapore with their credit management.
It will address current gaps in the debt advisory and restructuring services among small and micro businesses in Singapore.
The MOU aims to promote awareness of CCS’s debt management programme and financial literacy education for business owners to users of Dun & Bradstreet services through joint marketing and public relations activities.
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This is the first collaboration between Dun & Bradstreet and CCS.
“We are happy to be the exclusive partner to Credit Counselling Singapore (CCS) as we believe in their mission to help individuals and businesses with their credit management. Given the current Covid-19 situation, there has been an unprecedented rise in financial distress among businesses,” says Kevin Koo, founder and executive chairman of Credit Bureau Asia.
“We will do what we can to promote CCS’ Consumer and Business Debt restructuring program via our platforms so as to reach out to as many affected users as possible. We hope to educate the business community in proactive credit vigilance and raise the overall credit health profile of financially distressed businesses during these challenging times through our platforms,” he says.
“We are delighted to embark on this exclusive partnership with Dun & Bradstreet Singapore. We believe we can help small and microbusiness owners who are facing financial distress or cashflow issues to take early remedial actions through our financial literacy programmes, debt advisory services and where applicable, facilitate their debt restructuring,” says Ang Hao Yao, chairman of CCS.
“Dun & Bradstreet Singapore has a long track record in helping companies in decision-making with their rich database of business information. We are confident that this partnership will benefit sole proprietors and partnerships in particular, who lack the awareness of the recourse they have in managing loan obligations,” adds Ang.
Shares in Credit Bureau Asia closed 1 cent lower or 0.8% down at $1.28 on July 8.
Photo: Credit Bureau Asia
