EMPOWER YOUR BUSINESS
Hong Leong Finance’s Empowers Me campaign aims to help SMEs reach their full potential
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.”