** Product Highlight of the Month **

Total Company Credit Risk Score Report (TCCRSR)

Scoring is getting more and more popular in credit system as it is an important variable in assessing the credit worthiness of a potential customer. Credit Scoring is the key to setting credit guidelines, policies and procedures. Using our Total Company Credit Risk Score Report (TCCRSR) will help you standardize your credit practices for your department, all regions, branches, divisions and subsidiaries.  In addition, a genuine credit score based on the information in the report will help you to make big improvements in the credit process.

Total Credit Risk Score (TCRS), which is available in both our Total Company Credit Risk Score Report (TCCRSR) and Total Macau Company Credit Risk Score Report (TMCCRSR), is based on a risk score model developed by a group of professional and experienced business and credit analysts with extensive knowledge and expertise. The risk scoring model is refined on a periodic basis to ensure that the latest economic or industry trends are incorporated into the system.

Doing business is risky, as well as competitive and the TCRS gives you a fast, objective measurement of credit risk that ensures a faster, fairer credit decision with minimal errors.

Whether you are opening a new account or reviewing an existing account, we recommend you seek a TCRS rating in order to assess the degree of your risk.

For more information, please click on the link below:

[CLICK HERE]

Hong Kong Credit and Collection Management Association (HKCCMA) - Seminar on Debt Collection & Career Talk in Credit Management - Hong Kong

HKCCMA recently launched a series of seminars on Credit & Collection topics.  The 1st in the series will be  held on 24 July 2014, on the topic of debt collection and this will be given by Mr. Gordon Yuen, our Director for Receivables & Debt Collection and winner of the 2013 Credit Management Excellence Award.   The seminar will be followed by a “Career Talk in Credit Management” to be presented by Mr. Benedict Wong, Past HKCCMA Chairman (2000-2011).

These seminars have been designed for corporate entities and banks in the current economic climate. 

This event is open to all, members and non-members inclusive, completely free-of-charge.  You are advised not to miss this exclusive event, to listen and learn from outstanding credit and collection practitioners with the highest accolades.

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National Association of Legal Investigators (NALI) Annual Conference - Denver, CO, USA

NALI’s Annual Conference was held this year in Denver, Colorado, USA between 26 - 28 June 2014 at the Warwick Denver Hotel (member of Warwick International Hotels).

This conference is one of two events hosted by the NALI annually - the other event is a mid-term meeting.  This conference was represented by members from around the world, to share thoughts, developments, knowledge and successes, while strengthening relationships with industry players to promote international business.

The conference featured a strong line-up of industry speakers covering important industry topics such as Capturing, Analyzing & Preserving Internet Research, Internet Profiling & Intelligence Gathering and Analyzing the Role of the Investigator in Negligent Security Investigations.

Launched in 1980, Warwick International Hotels represents a collection of distinct, upscale hotels and resorts known for quality throughout the world with over 55 hotels on five continents.  Inspired by the heritage and distinguished identity of its first hotel, Warwick New York Hotel, an emblematic establishment of Manhattan since 1926, built by early 20th-century media tycoon William Randolph Hearst for the love of his life, actress Marion Davies. The hotel inevitably became a Manhattan icon, best noted in the background of the famous photograph titled Lunch Atop A Skyscraper. Synonymous with New York glamour and understated elegance, the hotel has hosted countless celebrities throughout its existence and continues to host stars to this day.

Whether it was once the stately residence of English aristocrats, a refuge to glamorous superstars, or a stay between original stone temples amidst royal grounds handed down through generations, many Warwick hotels have helped shape history and city skylines.  For example, The Denver Playboy Club, popular in the late 60s and early 70s, is now part of the colourful history of Warwick Denver Hotel.  Each Warwick hotel carries a unique story woven into the historical fabric of the city.

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Global Credit Solutions (GCS) 2014 Annual World Conference - Dubai, UAE

GCS will hold its annual world conference on 20-22 October 2014, in Dubai, UAE.

The elegant, luxurious and conveniently located 5-star luxury Sofitel Dubai Jumeirah Beach Hotel has been chosen as the conference venue hotel.  Set amid the shops and cafés of Dubai's The Walk, Sofitel Dubai Jumeirah Beach artfully blends Arabic design features with exquisite French elegance.

The conference will cover topics such as the new Global Compliance Requirements Program (GCRP), Sales Strategy, Corporate Marketing, as well as Regional Reviews.

Delegates have been assured that they will be visiting some of the city landmarks such as the Dubai Mall (World's Largest Shopping Centre), the traditional souk districts located on either side of the stream and the Burj Khalifa (Khalifa Tower), currently the world's tallest building at 829.8 m (2,722 ft) with more than 160 stories. 

Representing Total Credit at this year’s conference will be Benedict Wong, our President & CEO, and Peter Wong, our Director - Business Development & Compliance (also currently GCS Regional Director – APAC).

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The World Association of Detectives, Inc. (WAD) 89th Annual Conference - Auckland, New Zealand

The World Association of Detectives will be celebrating its 89th Annual Conference in Auckland, New Zealand on 21-26 October 2014.  For many, this is a once in a lifetime opportunity to visit the mysterious and beautiful country of New Zealand, while learning and networking with some of the best Private Investigators and Security Professionals from around the globe!

This conference is one of two events hosted by the WAD annually - the other event is a mid-term meeting.  This conference is expected to be continue its international platform with representation of WAD members from around the world, to share thoughts, developments, knowledge and successes, while strengthening relationships with industry players to promote international business. Coupled with a distinguished panel of speakers presenting their expertise, perspective and experience, Auckland 2014 is poised to be a great meeting not to be missed.

The Skycity Auckland Convention Centre which is conveniently located in the heart of New Zealand's premier entertainment destination and is recognized as one of the premier event destinations for both international and local multi-day events, has been chosen as the conference venue.  With world-class facilities, expert staff and unrivalled recreational opportunities including a world-class casino, a multitude of bars, award-winning restaurants and the iconic Sky Tower, the Skycity Auckland Convention Centre has been custom designed to deliver the best experience to delegates.

Total Credit & Risk Management Group (GCS Hong Kong)
Since our incorporation in 1987, Total Credit & Risk Management Group is the leading provider of global credit & risk management services with a focus on Greater China (Hong Kong, China, Taiwan, Macau) and the Asia-Pacific region.

Total Credit & Risk Management Group provides the full range of services, from global real-time business & credit information, receivable management services to background investigations, due diligence and pre-employment screening.

Our clients include government departments, banking and finance institutions, export credit agencies, accountancy and legal firms, utilities, distributors, freight forwarding and logistical firms, hotels, importers and exporters, business associations, construction firms, foreign trade commissions and companies operating in the gaming, leisure and entertainment industry.

In the industry, we are founding members of:
 
Global Credit Solutions (GCS) Group
Total Credit & Risk Management Group
Asiagate
Hong Kong Credit And Collection Management Association (HKCCMA)

And members of:
 
ACA International, USA
Institute of Mercantile Agents (IMA), Australia
National Association of Legal Investigators (NALI)
World Association of Professional Investigators (WAPI)
World Investigators Network (WIN)
World Association of Detectives, Inc. (WAD)

Our expertise, know-how, network, advanced technology support and 25 years + comprehensive databases distinguish us in the market.

ACA International Profile
ACA International, the Association of Credit and Collection Professionals, is the comprehensive, knowledge-based resource in the credit and collection industry.

Founded in 1939, ACA brings together more than 5,000 members worldwide, including third-party collection agencies, asset-buyers, attorneys, creditors and vendor affiliates.  The association establishes ethical standards; produces a wide variety of products, services and publications; and articulates the value of the credit and collection industry to businesses, policymakers and consumers.

NALI Profile
NALI was formed in 1967 for legal investigators actively engaged in negligence investigations for the plaintiff and / or criminal defense.

NALI’s primary focus is to educate and advance the art and science of legal investigation, and to ensure the highest standard of professional ethics.  This common bond establishes mutual trust, goodwill and friendship among their members, which currently exceeds 500 professional legal investigators located throughout the USA and other countries.

IMA Profile
Established in 1961, the Institute of Mercantile Agents Limited (IMA) represents collectors, investigators, process servers and repossession agents throughout Australia.  Elected members networked across Australia work on matters of licensing, privacy, training and ethics affecting members.

WAD Profile
With origins dating back to 1921, W.A.D. is the longest established and largest association of its kind in the world.
 
The World Association of Detectives was formed as a joint venture by the combined membership of the World Association of Detectives and the International Secret Service Association and remains the foremost International Association of Professional Investigators and Security Service organizations.

GCS Profile
GCS has a commitment to being at the forefront of technology ensuring that we utilize that advantage to enhance the efforts of our qualified staff.  Global Credit Solutions Limited originated in Australia, with the foundation company Total Credit Management Services Pty Ltd, and expanded offshore to Asia, Europe, Middle East, Gulf & Americas. The company was incorporated, to provide the infrastructure for a planned and sustained growth, in the vital area of Global Credit Management services. The company now operates around the world, providing premium services to its ever-increasing list of high profile clients.

GCS provides offices on the ground - Collecting and litigating overseas can present many problems. A multiplicity of regulations in each of the hundred or more jurisdictions around the world mean it is impossible to manage risk efficiently and expertly from a single location - there is no substitute for local knowledge. GCS provides expertise in the legal system, rules of enforcement, customs and practices which eliminate risk and create a level playing field upon which to trade.

Today, GCS is recognized by the International business community as experts in the fields of credit management, debt collection, credit reporting and risk management services.

Asiagate Profile
Asiagate was formed by a group of well-established and prominent credit reporting agencies in Asia knowing the importance of the growing economy in Asia and the need to protect investors and businessmen. Asiagate provides the widest coverage of corporate credit information in Asia and its country members are specifically selected based on their size, establishment, integrity and reputation from each country. Currently, its members covers China, Hong Kong, India, Indonesia, Korea, Malaysia, Singapore, New Zealand, Australia, Taiwan, Thailand, Vietnam, Philippines and Kenya. 
 
Asiagate is also working on the integration with the renowned international credit information networks such as Eurogate and BigNet in order to create the largest credit information network in the world.

     The Census and Statistics Department (C&SD) released today (July 18) the results of the Quarterly Business Tendency Survey for the third quarter (Q3) of 2014.

Business situation

     For all surveyed sectors taken together, >>>>>[Read more]


Unemployment and underemployment statistics for April - June 2014

     According to the latest labour force statistics (provisional figures for April - June 2014) released today (July 17) by the Census and Statistics Department, the seasonally adjusted unemployment rate increased from 3.1% in March - May 2014 to 3.2% in April - June 201 >>>>>[Read more]


Volume and price statistics of external merchandise trade in May 2014

     Further to the external merchandise trade statistics in value terms for May 2014 released earlier on, the Census and Statistics Department (C&SD) released today (July 17) the volume and price statistics of external merchandise trade for that month.

 & >>>>>[Read more]


Interest rate of the interest payment on maturity date for iBond Series due 2014

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announces today (July 14) the relevant per annum int >>>>>[Read more]


Land Registry releases statistics for first half of 2014

     The Land Registry today (July 4) released the following statistics for the first half of 2014.

Land registration
-----------------

* The number of sale and purchase agreements for all building units received for registration for the first half of 201 >>>>>[Read more]


Provisional statistics of retail sales for May 2014

     The Census and Statistics Department (C&SD) released the latest figures on retail sales today (July 3).

     The value of total retail sales in May 2014, provisionally estimated at $39.0 billion, decreased by 4.1% over a year earli >>>>>[Read more]


Wage and payroll statistics for March 2014

Overall wage and payroll statistics

     According to the figures released today (June 27) by the Census and Statistics Department (C&SD), the average wage rate for all the selected industry sections surveyed, as measured by the wage index, increased by 4.1% in >>>>>[Read more]


External merchandise trade statistics for May 2014

     The Census and Statistics Department (C&SD) released today (June 26) the external merchandise trade statistics for May 2014. In May 2014, the values of Hong Kong's total exports and imports of goods both recorded year-on-year increases, at 4.9% and 3.7% respectiv >>>>>[Read more]


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June 27, 2014

Running a company in today’s business climate brings with it varied challenges, but there are some easy ways to make running a business easier and more profitable. Nothing provides a business owner with more accurate information that the credit reports of customers, competitors and suppliers.

Running business credit reports are one of the best ways to protect your business and assist you in obtaining information on a potential bad debt or changes to customers’ businesses. This information helps you to make smarter business decisions.

10 Reasons Why You Should Use Business Credit Reports to Reduce Your Company’s Exposure to Risk:

1. Prevention is better than cure – checking a business’ credit report will provide you with the confidence you need when choosing whether to supply or be supplied by another company.
2. Finding out whether or not a company has past legal notices and whether its directors are linked to bankruptcies, will help ensure that your business does not begin a partnership that could have a negative impact.
3. A company credit report provides you with in-depth knowledge on how a company manages its financial responsibilities. A simple credit check will help you to identify if a customer can pay upfront, which will save you time and resources chasing late payments.
4. If a company suffers from financial or legal issues, its credit report will tell you. This will enable you to protect your business from unreliable suppliers or potential late payers / debtors.
5. If you rely on certain suppliers for your business, then monitoring them and following their credit activity such as rating and limit can help when making those crucial business decisions and give you the peace of mind when entering into a business relationship.
6. Monitoring your customers’ credit reports will also help you decide whether the company in question is of greater risk of default than in previous reports. With this level of information, you can then look at how you can change the payment terms or options for that customer.
7. Checking credit ratings for businesses helps to minimize the chances of having to pass cases to debt collection agencies.
8. Staying up to date with and monitoring your own company’s credit report is just as important as looking at external businesses. You will be able to ensure that you reduce risk, make better business decisions and take the necessary steps, if necessary to improve your rating.
9. Your own company’s credit report also gives you the chance to view your business through the eyes of your customer, supplier or competitor. Would you do business with you?
10. Checking company credit reports of your competitors will give you valuable knowledge on their business development, their financial position and if there are any legal filings against them. This allows you to keep ahead of the game and maintain a positive position for your company in the marketplace. They are probably using company credit reports to keep an eye on you!

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