Press Releases

Seminar on "Factoring"
Tuesday, October 1, 2002

The Support and Consultation Centre for SMEs (SUCCESS) of the Trade and Industry Department, the SME Centre of the Hong Kong Productivity Council, and the Hong Kong Institute of Bankers will jointly organise a seminar on "Factoring" on October 17.  SME operators are welcome to attend.

The seminar will be held from 2:30 to 5:00 pm at the Exhibition Hall, 4/F, HKPC Building, 78 Tat Chee Avenue, Kowloon Tong, Kowloon (MTR Kowloon Tong Station EXIT C1).

The seminar aims to introduce "factoring", also known as "accounts receivable financing", to SMEs, with a view to helping them make use of accounts receivable to secure working capital loans from lending institutions to enhance cashflow.

Speaking at the seminar will be Mr Philip Cheng, HSBC Manager (Factoring Services), and Ms Amanda Chiu, Head of Factoring Services, DaoHeng Bank and DBS Kwong On Bank.  They will explain how factoring operates, how it helps SMEs resolve financing problems, the types of products available, and factors which lending institutions would take into account in handling requests for factoring.  SMEs which are users of factoring services will be invited to share their experience at the seminar.  Also, representatives from lending institutions engaging in factoring businesses would be present to answer enquiries. 

The seminar will be conducted in Cantonese.  Admission is free of charge.  Interested parties are requested to register with the Trade and Industry Department by October 15.  For enquiries, please contact the SME Office of the Trade and Industry Department at 2398 5736.  Details of the seminar can be found at the Virtual SME Information Centre at http://www.sme.gcn.gov.hk.

END/