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KBK Capital Corporation, which provides financing for middle-market businesses, today reported its operating results for the quarter and year ended December 31, 2001. In July 2001, plans were unveiled for returning the company to profitability and progress reports (see below) produced in the light of the operating results show that their specific goal with regard to the expansion of their factoring operations has been exceeded.
25/01/2002
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The Central Jakarta District Court is scheduled to present its verdict on Bank Indonesia Governor Sjahril Sabirin on March 6.
Presiding judge Soebardi said on Monday that the trial could not he held sooner because one of the judges intended to perform the haj pilgrimage.
Sjahril is being tried for allegedly abusing his authority in the illegal disbursement of Rp 904 billion (US$86.9m) in Indonesian Bank Restructuring Agency (IBRA) funds to Bank Bali in 1999.
25/01/2002
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Continued expansion at Independent Growth Finance (IGF), one of the country’s fastest-growing independent factoring houses, has lead to their second head office move in two years. IGF remain on the Kings Hill Estate in West Malling, but have taken up larger office space to accommodate this growth.
21/01/2002
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Leicestershire based print management and communication services business Aiza Limited has acquired Present Format (UK) Limited, a print distribution business located in the Midlands. This is the second acquisition by Aiza, quickly following the acquisition of Hornermain in August 2001. The deal, worth Ј1 million, was backed by Lloyds TSB Commercial Finance and Northern Venture Managers [NVM].
18/01/2002
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Corin Group Limited, the manufacturer and marketer of orthopaedic products, is looking forward to accelerating the expansion of its UK and US business thanks to teamwork from two Lloyds TSB managers in Bristol.
Financial backing has been provided through an invoice discounting facility structured by Peter Anderson, Regional Manager at Lloyds TSB Commercial Finance and a loan arranged by Mike Page, Industry Focus Manager, Lloyds TSB Commercial.
18/01/2002
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DR ZHOU JINFENG is Chairman of Midwest Group and Principal of Midwest Guaranty Limited, China. With its recently obtained license, Midwest Guaranty Limited is the first privately held factoring company in China.
KENNETH CHOI is Asia Managing Director of Tyco Capital (Formerly CIT), one of the largest factoring companies in the world. He has 15 years’ expert development knowledge of the mainland China, Hong Kong and Taiwan markets.
18/01/2002
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An important phenomenon of the latest CIM Marketing Trends Survey is that smaller firms, who mainly sell into the business to business market place, are noticeably more optimistic than larger firms. This is a reversal of the trend for 2001 where business to business activity was slashed dramatically.
17/01/2002
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Lloyds TSB Commercial Finance, the leading provider of asset-based lending, has been named BizTalk Server Customer of the Month by Microsoft Corp. in recognition of its innovative FirstCheck service.
The award is presented to recognise new and innovative solutions using Microsoft BizTalk Server. Lloyds TSB Commercial Finance’s use of the product to support FirstCheck was commended as an innovative example of enhanced customer service over the Internet. It has also generated clear business and technical benefits.
14/01/2002
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Lloyds TSB Commercial Finance Limited, the leading provider of asset-based lending and factoring, has announced board changes in response to increased demand for its services and to support its objectives for the year ahead.
David Totney has returned to Lloyds TSB Commercial Finance Limited to join the board as Corporate Development Director. David is responsible for the strategic development of the business for all three of its brands: Lloyds TSB Commercial Finance, Alex Lawrie Factors and CashFriday.
14/01/2002
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Global Trade Finance, India's premier export finance service provider, has become the first Non-Banking Finance Company (NBFC) to obtain the Reserve Bank of India licence to offer forfaiting services. This should be of benefit to those concerned with the export business.
14/01/2002
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The following statement, recommending the purchase of shares in Asta Funding, was today issued by Monness, Crespi, Hardt & Co Inc, a member of the National Association of Securities Dealers.
Introduction
10/01/2002
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The International Factoring Association has announced details of its Eighth Annual Factoring Conference.
Some of the topics to be discussed are:
10/01/2002
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London-based Netherford Factors Ltd have today released their annual accounts for the year ending 30 June 2001. The trend of steady increase in turnover displayed over the last five years has continued into 2001, with turnover climbing 7.1% to Ј238,129 (in the year ended 30 June 2000) to Ј255,019 in the latest accounts.
More noteworthy, however, is the company’s increase in profits before tax which have, in recent years, fluctuated widely. Following a small increase in the 1999 – 2000 period, the latest accounts have seen profits increase by 122.5% to Ј32,601.
09/01/2002
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Leading invoice finance specialist Venture Finance plc, has appointed Steve Websdale as a Director. Venture Finance specialises in providing working capital for small and medium-sized enterprises in the UK.
As a Board Director at Venture, Steve will play a major role in identifying opportunities for the company, including new sales channels, product development and acquisition opportunities. Steve’s appointment adds strength to the company’s plans for expansion and growth.
09/01/2002
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Debt disputes are expected to become less of a "headache" for both domestic and foreign creditors in Beijing, as the city's courts have instituted "obligation documents" for use in the settlement of debt cases. The new procedure, initiated by the Beijing No 2 Intermediate People's Court, will give creditors a lifelong right of requesting the court to carry out forcible debt collection any number of times, as long as the debtors are found to have the ability to pay.
No additional fees will be paid to take advantage of the procedure.
08/01/2002
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