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Industry News
SINGAPORE 2007-04-13: 3RD CREDIT BUREAU CONFERENCE:
Navigating Globalization: The Opportunities, Risks and Challenges
D&B Singapore and ASME, The Association of Small and Medium Size Enterprises, held a 3rd SME Credit Bureau Conference on April 13, 2007 at the Raffles Convention Center in Singapore. The conference aims were to equip local SMEs with the tools and resources they need for business readiness and for minimizing the risk of globalization. Attendees heard from a panel of experts as they discussed case studies and share success stories on key issues in globalization – the opportunities, risks and challenges. The globalization theme for this year’s SME Credit Bureau conference reinforced the government’s call for SMEs to venture abroad for sustained growth in the long term and aims to give SMEs a leg up in penetrating international markets.
During the conference D&B Singapore launched a publication: “The Top 1000 Performing Companies in Asia Pacific”. The publication, which ranks the top 1,000 companies in 12 countries based on their ROE, serves as a basis to benchmark your profitability metrics and to develop a strategy to achieve overall efficiency in utilizing the funds invested by investors / shareholders. In addition the conference organizers presented awards to the top 10 best performing companies in Singapore.
In her opening speech, Mrs. Lim Hwee Hua, Minister of State for Finance and Transport stressed the fact that the Singapore SME community is a key pillar of the local economy. It contributes 42% of our GDP, and employs more than half of Singapore’s workforce. SMEs are generally doing well. As a group, the top 500 SMEs here have increased total turnover by 30% to $13.5 billion and almost doubled net profits to $630 million over the past 5 years. SMEs, however, face strong challenges, in the context of an increasingly globalised economy. While the rapid growth of trade links and the increase in global financial integration have provided greater opportunities, this has also widened the field of competition for all businesses. To stay competitive, SMEs have to keep up with innovation and technology changes; they also have to develop capabilities to expand into overseas markets. Minister Lim Hwee Hua cited several key initiatives which are designed to better enable SMEs to launch and grow their business in Singapore. These initiatives to include: improving access to financing for SMEs; creating a business-friendly tax regime; tapping on business ideas from abroad; and providing broad support for businesses.
The Singapore SME Credit Bureau is one of the most advanced business models for serving the needs of SMEs.
To read the full speech, please click on the attachment: OPENING REMARKS
Sources: http://www.dnb.com.sg – http://www.asme.org.sg
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Infoserve, a leading player in the UK local search market, has teamed up with taxonomy company WAND as part of the development of its new business search website, http://www.infoserve.com. WAND’s local search taxonomy database, which contains over 1.4 million keywords, will be used alongside Exorbyte’s approximate search technology, to give users of Infoserve.com the most specific of search results.
For example, on http://www.infoserve.com, Internet users will be able to search for business listings using the most obscure keywords and phrases, such as shampoo, which will return results in a variety of categories, including hairdressers, beauty products, cosmetic manufacturers, hairpieces and wigs, hairdressers’ equipment and supplies, and carpet cleaners.
Multimedia company Infoserve, which has its headquarters in Leeds, specialises in helping small and medium sized businesses promote themselves to people searching online for local goods and services. It lists around 2.7 million businesses across its family of websites, which collectively receive more than 24 million visitors a month. Its network includes the websites of a number of major online media partners such as the Daily Telegraph, the Daily Mail, as well as Football League Interactive (FLi) and Sky TV.
Wand’s custom built, carefully structured, taxonomy will allow consumers to search for businesses via one of 70,000 categories and return accurate, relevant results. Infoserve believes that Wand’s technology, coupled with other software developments, will enable it to become a pioneering UK business finder.
On Infoserve’s new website, all businesses will receive a free basic listing which includes company name, address, and telephone number. For businesses keen to maximize their web presence and improve their Internet marketing, enhanced listings are available which includes priority placement in each category, full colour logos and pictures, and additional information pages, along with a link to the business’ website.
Source: EPS Insights: http://www.epsltd.com Infoserve: http://www.infoservegroup.com/news/index.html http://www.wandinc.com
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AMP Capital exits and Carnegie Wylie & Company CWC) acquires a majority shareholding in Dun & Bradstreet Australia and New Zeeland (DBA), in a move which marks out a broader financial services role for the investment banking and corporate advisory firm. Management will retain its shareholding.
Information industry members have been waiting impatiently for news about the pending ownership change in D&B Australia and New Zealand. Industry insiders had speculated for some time whether the D&B Corporation would reacquire the company to protect its brand. It appears D&B did not and competing information companies did not succeed either. Instead D&B Australia and New Zealand remains in the hands of local investors who are expected to invest in the future growth of the company.
To read the full story, please click on the attachment.
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Steven W. Alesio, Chairman and Chief Executive Officer of D&B announced on November 3rd, 2006 during the Q3 2006 Earnings Conference Call, the creation of a joint venture in China with Huaxia Credit International. The joint venture is expected to create the largest commercial credit information company in China in terms of revenue and the size of the China database. By leveraging its DUNSRightTM process, D&B is expecting to generate more value added from an expanded China data base. To have a local partner with good ‘Guanxi’ is an excellent move, which will provide D&B with a considerable competitive edge over local and foreign competition.
Huaxia International Credit Group was founded in August 1993. It is headquartered in Beijing, has subsidiaries, branch companies and offices in Shanghai, Guangzhou, Chongqing and Changping District of Beijing respectively. The group consists of member companies including Huaxia International Credit Consulting Co., Ltd., Huaxia International Market Research Co., Ltd., Huaxia International Consumer Credit Consulting Co., Ltd. and Huaxia Account Receivable Management Co., Ltd. The group has an International Business Division, Credit Management Consulting Division and other business divisions. Huaxia Credit is a leading provider of business information and credit management services in China. By leveraging advanced information technologies, an experienced work force, extensive reporting network and dynamic databases, Huaxia Credit provides domestic and overseas business credit reports, sales leads, market research reports, consumer credit reports, database marketing, consulting services to businesses, insurance companies, multinationals, commercial banks, government departments in and outside China and has gained national and international recognition. Huaxia Credit is managed by its Chairman and cofounder Dr. Cao Xiaoning, an energetic entrepreneur who committed himself in 1993 to the pioneering task of promoting credit risk management in China. He is a well known personality at international credit information industry conferences and has become a leading authority on credit management and information services in China. Source: Huaxia Credit website
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Fair Isaac files an antitrust suit against TransUnion, Experian and Equifax
TransUnion, Experian and Equifax worked together to develop a tri-bureau generic credit scoring system called VantageScore. While credit scoring systems exist in the market today, including several that are produced by the individual companies themselves, VantageScore marks the first time that the three companies joined forces to produce a model that scores consumers consistently across all three companies. Many people wondered as to why Fair Isaac was not invited. If the FICO score was the industry standard, what prompted three important users to create their own standard? Now Fair Isaac has filed suits against Equifax, Inc., Experian Information Solutions, Inc., TransUnion LLC—the three major credit reporting companies—and VantageScore Solutions LLC, the company that has licensed the VantageScore system to Fair Isaac's three competitors.
Fair Isaac claims that the three credit reporting companies have used false marketing to mischaracterize Fair Isaac's FICO scores, which have long been considered the industry standard. Equifax, Experian and TransUnion also currently control the price a lender pays to receive a FICO and a VantageScore, which Fair Isaac believes puts the three reporting agencies in an unfair position to promote the VantageScore at the cost of fair competition with the FICO score. In a statement, Fair Isaac CEO Tom Grudnowski said that his company has "competed against the credit reporting agencies' scoring products for many years, and [is] happy to compete on a level playing field." Grudnowski added, "The recent agreement between the three powerhouse agencies unfairly threatens our ability to compete."
Equifax, in a press release, stated that it found Fair Isaac's accusations to be "without merit" and that the company "plans to vigorously defend itself and VantageScore Solutions LLC." Equifax added that the creation of VantageScore was a direct result of customer demand for "a more consistent, objective and better performing approach to credit scoring." TransUnion made a statement expressing similar beliefs, stating that the company was "not surprised" by Fair Isaac's use of litigation. Experian withheld comments.
Source: Company Websites and Press Releases
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Three consumer credit reporting companies - Equifax, Experian and TransUnion - worked together to develop a tri-bureau generic credit scoring system. Soure: http://www.vantagescore.com
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Analysis reveals a record 2 year low in slow payment and declining trends in late payment among key industries with increased credit utilization as per Dun & Bradstreet Hong Kong Ltd.
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Consumer credit reporting has become a hot issue in recent times. Increased public and media awareness of this issue is a result of the many different stakeholder views and D&B's recent work in arguing for a parliamentary inquiry into Australia's consumer credit reporting system
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Effective, transparent and accountable credit reporting is critical to the nation's economic growth. And allowing credit providers to make lending decisions based on the most reliable and accurate information is fundamental to ensuring Australia's economy is not undermined by unsustainable credit growth
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There has been a dramatic decline in business to business trade payments this year, signalling greater cash flow and credit risks for business, with small business the most likely to feel the impact
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There has been a further decline in business to business trade payments this year, signalling greater cash flow and credit risks for business
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SHORT HILLS, N.J.--(BUSINESS WIRE)--Sept. 21, 2005--D&B (NYSE: DNB), the leading provider of global business information, tools and insight, today announced that its global commercial database, the largest in the world, now contains 100 million business records.
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The latest edition of the EPS Market Monitor research program on Business-to-Business publishing predicts a growth rate of 6.6% (CAGR) through 2009 fuelled by a continued strong growth demand in the Information Services segment.
The 116-page report describes a global market which grew to $32.9 billion in 2004 - on a three-year compounded basis (2002-2004); the growth was 9% in USD and 4% in adjusted currency. The five largest players; VNU; Reed Business Information; Experian; IDG and IMS Health, generated 35% of total industry revenues in 2004.
EPS foresees a number of drivers contributing to continued growth in the B2B media and information services industry over the next five years, including:
1) Growing demand for B2B advertising (particularly online);
2) B2B trade publishers' paid content initiatives;
3) Increased demand for content-based workflow and data analysis tools;
4) International expansion, particularly in emerging Asia Pacific markets;
5) Expanding needs for credit/risk information; and
6) Industry responses to the threats and opportunities presented by paid search advertising vehicles.
"While making clear the performance metrics of the major players," said Steve Sieck, managing partner of EPS-USA and director of the Market Monitor program. "This report also indicates the strength of sector specialists in verticals where content and service elements are becoming more and more concentrated".
About EPS: With offices in London and New York, EPS is the only consultancy which has concentrated its whole attention specifically on the information industry. Unlike any other provider of this type of service, we offer nearly 20 years' experience and relationships with the key players in the publishing world.
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Chinese government officials and credit managers had expected to hear about a European Union role model of an enterprise credit information system. Instead Dr. Dieter Suedhofen (Verband Creditreform Germany) had to disappoint his audience by presenting a kaleidoscope of individual country specific systems with widely dispersed attributes, quality and reliability characteristics. For his audience it was incomprehensible that the European Union had failed to create an integrated, uniform and reliable public and private sector enterprise information system.
Where does the European Commission stand on this subject? Several years ago the European Commission stated in a special report that well functioning public sector information was essential to provide the necessary transparency in investment and trade credit decisions in support of the movement of capital, goods and people. The EU Commission lamented in its report that EU businesses were at a disadvantage versus their US competitors because European public sector was highly fragmented and incompatible due to different legal systems and technical platforms. In order to provide some remedy, the EU Commission issued a directive in 2005 that specifies guidelines concerning public sector information / private sector information relationships and to foster greater cooperation and partnerships between these sectors.
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Virginia Wong, Director - Sales & Marketing of D&B China presented an overview of the credit and payment situation in China, current credit management practices in China, and an overview of China's credit infrastructure.
For further information contact Virgina Wong: wongv@dnb.com
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United Nations Conference on Trade and Development (UNCTAD)
Commission on Enterprise, Business Facilitation and Development; 10th Session, Geneva 21-23 February 2006
On February 23rd, Joachim C. Bartels, Managing Director of BIIA was part of a panel that discussed E-Credit Information, Trade Finance and E-Finance: Overcoming Information Asymmetries. Bartels delivered a short presentation on ‘Bridging the Digital Divide in Credit Information’. The presentation outlined the current state of information in developing countries and the need for a concerted effort in bridging the digital divide between public sector information, the private sector information content and the lending sector. Bartels also addressed the current plight of SMEs in gaining access to financing. The core of the presentation featured the Thai public sector/private sector partnership (Business Online) as a useful role model in turning public sector data into knowledge in support of economic development.
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Infocredit D&B is holding the 2nd SME Credit Bureau Conference on May 19th, 2006 at the Suntec Singapore International Convention & Exhibition Centre, Ballroom I, 1 Raffles Boulevard Suntec City, Singapore. For further information contact Audrey Chia audrey.chia@icdnb.com.sg
Learn about the latest credit advisory, credit score and rating services
Find out how the SME Toolkit, developed by the IFC / World Bank Group, can help to develop and advance your business
Understand financing options for SMEs
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Moody's KMV and eCredit have announced to market a set of intergrated credit solutions for corporations.
Moody's KMV, the world's leading provider of quantitative credit risk measurement and management solutions to lenders, investors and corporations, in partnership with eCredit, a leading provider of online workflow solutions for credit and collections professionals, have announced a set of integrated credit solutions for corporations. The solutions integrate Moody's KMV CreditEdge® and RiskCalc™ advanced credit risk analysis tools with eCredit's automated credit and collections management suite. Subscribing eCredit customers can seamlessly access Moody's KMV RiskCalc and CreditEdge, delivering visibility into clients' exposures across all portfolio segments.
"Our partnership with eCredit has created one of the most robust and flexible automated credit decision products," said Andrew Huddart, President of Moody's KMV. "Moody's KMV brings the industry's most powerful analytics and the cleanest data together with eCredit's efficient workflow tools to take corporate clients to the leading edge of credit risk management." "Predictive and reliable information is essential to the practice of sound credit risk management," said Jeff Dickerson, eCredit, President and CEO. "The combination of sophisticated analytics from Moody's KMV with flexible credit automation software from eCredit is without rival in the marketplace and enables companies to take risk management to the next level."
Through this partnership, corporations can receive for each of their clients a credit score from eCredit coupled with a Moody's KMV EDF™ (Expected Default Frequency) credit measure, giving the corporation better insight into decisions on extending credit to clients. Moody's KMV EDF credit measures assess probability of default over a specified period of time. The CreditEdge® integration furnishes EDF credit measures for a corporation's public clients, based on market data. The RiskCalc™ integration provides EDF credit measures for a corporation's nonpublic clients based on private firm financial statements that exist within eCredit.
May 08 2006
http://www.moodyskmv.com
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Baycorp Advantage (ASX:BCA) has agreed to sell its debt collection business, Baycorp Advantage Collections Services (BCS), for A$97 million to Trans Tasman Collections (TTC), a consortium including Allco Equity Partners (ASX:AEQ) and Deutsche Bank Capital Partners. The sale follows the conclusion of a competitive sale process, which included an evaluation of both trade sale and initial public offer options.
http://www.baycorpadvantage.com
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China International Institute of Multinational Corporations (CIIMC), a renowned organization known for the publication of the world’s famous “World Economic Development Declaration”, and the world’s leading global business credit rating institution, D&B Corporation (D&B), jointly announced the launch of the “China International Credit Enterprises” toady at the press conference held at the Great Hall of the People.
Email: enquiry@dnb.com
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