SME Credit Bureau Sdn Bhd, which provides credit reports of small businesses, expects more small- and medium- sized enterprises (SMEs) in Malaysia to join its bandwagon by the end of 2009.
Its chief executive officer Alex Lim said so far, the bureau has managed to register more than 22,000 members compared with just 1,200 companies when it first started operations last year.
"It's quite an achievement for us as we have only been in operation for about 11 months," he said.
Members comprise a good spread of the SME spectrum, ranging from those in retail, manufacturing, hospitality and services, among others.
"Response has been overwhelming. We record an average of 1,000 new registration a month, and we expect the numbers to grow stronger," he said.
It was set up on June 3 2008 by Credit Guarantee Corp Malaysia Bhd, a subsidiary of Bank Negara Malaysia. The bureau is supported by a strategic partnership with Dun & Bradstreet Malaysia Sdn Bhd.
It acts as a central database containing credit-related information on SMEs and helps evaluate and ascertain their credit-worthiness, financial strengths and weaknesses.
SME member registration can be made through its online portal www.smecreditbureau.com.my
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