EM­POWER YOUR BUSI­NESS

Hong Leong Fi­nance’s Em­pow­ers Me cam­paign aims to help SMEs reach their full po­ten­tial

Portfolio - - PORTFOLIO -

Sin­ga­pore’s largest fi­nance com­pany, Hong Leong Fi­nance is a con­sis­tent sup­porter of lo­cal en­trepreneur­ship. Op­er­at­ing 28 branches and 11 SME Cen­tres across Sin­ga­pore, it has been named ‘ASEAN Fi­nance Com­pany of the Year’ at the Asian Bank­ing & Fi­nance Re­tail Bank­ing Awards for five con­sec­u­tive years since 2014, and pre­sented with the pres­ti­gious Fastest-Grow­ing Com­pany Award in The Edge Sin­ga­pore Bil­lion Dol­lar Club 2018. Its share­hold­ers’ funds stand at S$1.74 bil­lion, and de­posits are at S$10.66 bil­lion as at 31 De­cem­ber 2017.

The com­pany has launched sev­eral suc­cess­ful ini­tia­tives for SMEs, in­clud­ing the SME Ca­pa­bil­ity Ready Pro­gramme (SME CARE). It col­lab­o­rates with the In­fo­com­mu­ni­ca­tions Me­dia De­vel­op­ment Au­thor­ity on ‘SMEs Go Dig­i­tal’ pro­gram, as well as with En­ter­prise Sin­ga­pore on gov­ern­ment-as­sisted loans. These put Hong Leong Fi­nance in a lead­er­ship po­si­tion to cus­tom­ize smart fund­ing so­lu­tions to the spe­cific needs of its SME clients.

Re­cently, Hong Leong Fi­nance rolled out ‘Hong Leong Fi­nance Em­pow­ers Me’, a cam­paign backed by its first SME mar­ket sur­vey on about 200 SMEs. The said sur­vey showed that 75 per cent of lo­cal SMEs put sales growth as their top pri­or­ity, while 36 per cent are bur­dened with high busi­ness costs. Through this cam­paign, Hong Leong Fi­nance hopes to reach out to more SMEs and em­power them to­ward sus­tained growth and ef­fec­tive cost man­age­ment.

Break Way From The Pack

The ‘Hong Leong Fi­nance Em­pow­ers Me’ cam­paign helps busi­nesses break away from the pack, which is what it achieved with Tai Chong Kok, a well­known lo­cal bak­ery for moon­cakes and tra­di­tional Can­tonese pas­tries. Through tai­lored fund­ing so­lu­tions, Tai Chong Kok ac­quired a new vac­uum pack­ing ma­chine with Hong Leong Fi­nance’s Equip­ment Loan, and en­joyed a pay-out for this ma­chine through the Ca­pa­bil­ity De­vel­op­ment Grant.

The sup­port from Hong Leong Fi­nance’s SME CARE boosted sales and op­er­a­tional ef­fi­ciency.

Tai Chong Kok was able to ac­cel­er­ate its in­vest­ment to reap im­me­di­ate ben­e­fits, ex­tend the shelf life of its products by im­ple­ment­ing new tech­nol­ogy, in­crease on­line sales and ex­port quan­ti­ties, and boost pro­duc­tion ca­pa­bil­i­ties to han­dle peak pe­riod de­mand. The en­ter­prise now en­joys sig­nif­i­cant cost sav­ings through ef­fi­cient hu­man re­source prac­tices, and the smart ac­qui­si­tion of ad­van­ta­geous au­to­ma­tion.

Boost Through Smart Fund­ing

“By scal­ing up our op­er­a­tional ef­fi­ciency and ef­fec­tive­ness with our new vac­uum pack­ing ma­chine, we could serve more lo­cal cus­tomers, ex­pand into over­seas mar­kets and de­velop new sales chan­nels,” ob­serves Mr. Ham, Di­rec­tor of Tai Chong Kok. “We are very im­pressed by the pro­fes­sional sup­port from Hong Leong Fi­nance for of­fer­ing us good ad­vice and well-thought-out Equip­ment Loan. This en­abled us to in­vest in high-tech ma­chin­ery and build our ca­pa­bil­i­ties, with­out strain­ing our cash flow.”

Mr. Ang Tang Chor, Pres­i­dent of Hong Leong Fi­nance, adds, “Hong Leong Fi­nance is proud to have helped many SMEs like Tai Chong Kok grow suc­cess­fully to the next level through ac­cess to smart fund­ing. We un­der­stand from our SME mar­ket sur­vey that their top pri­or­i­ties are to grow sales and man­age cost. Hong Leong Fi­nance looks for­ward to part­ner­ing with more SMEs in their busi­ness en­deav­ours and en­abling them to achieve sus­tain­able growth.”

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