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It can be a fair bet that financial models adopted in the USA eventually make their way to the rest of the world in one form or another. For factors, the key is to pick the right industry sectors to monitor, and to remain aware of developments within. In one panel lecture during the CFA conference, Terry Cady of DVI Business Credit, and Robert McCarrick of GE Capital Commercial Finance, detailed the developing methodologies of the important Asset Based Lending sector and its evolving contribution to the healthcare market - an industry worth 14% of GDP in the United States alone.
02/11/2001
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The Commercial Finance Association’s 57th Annual Convention and Exposition, San Francisco, October 24th-26th.
The USA is, in many ways, the powerhouse of the financial world, and current American developments will affect finance and factoring globally. BCR attended the leading commercial financial gathering in the States, the 57th Annual Convention of the Commercial Finance Association, and found a national financial industry facing up to challenging times.
02/11/2001
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A high turnout marks business support for the Commercial Finance Association
The 57th Annual CFA Convention has continued to enjoy a strong display of exhibitor confidence, despite worries about the performance of the US economy. The three-day convention ran from 26th to 28th October, and showed that, whatever the business climate, it seems that it pays to advertise.
02/11/2001
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The Stock Exchange of Thailand (SET) president, Kittirat Na Ranong, said the SET board has approved the listing of AEON Thana Sinsap (Thailand) Plc. AEON engages in the retail finance business including hire purchase, credit cards, personal loans and factoring.
The company's initial public offering is expected in mid-November, the SET said in a statement.
AEON has registered capital of 40 mln shares at par value of 5 baht. It will increase capital by issuing 10 mln common shares.
01/11/2001
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Although remaining well below the critical no change level of 50.0 in October, the latest seasonally-adjusted Purchasing Managers’ Index (PMI – a composite indicator designed to provide an overall view of the manufacturing economy), published by the Chartered Institute of Purchasing and Supply (CIPS) rose slightly for the second successive month. Nevertheless, at 46.7, the headline indicator continued to signal overall manufacturing contraction, as it has done for the past eight months.
OCTOBER PURCHASING MANAGERS’ SURVEY – AT A GLANCE
01/11/2001
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Andrew Visintin, partner, Hammond Suddards Edge
Insolvency lawyers - or as many now prefer to be called, 'turnaround specialists' - are once again in the spotlight. Headlines talk of recession on a global scale, with UK banks increasing bad provisions by Ј1.5bn by the end of the year.
The changing role of insolvency lawyers over recent years has been well chronicled. Less well chronicled is how financing, especially to the small-medium enterprise market, has evolved, with phenomenal growth in receivables financing and asset-based lending
01/11/2001
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Publicly listed PT Bakrie Finance Corporation (BFC), a subsidiary of the Bakrie & Brothers Group, and its creditors have agreed to appoint PriceWaterhouseCoopers (PWC) as an independent financial advisor to oversee its debt restructuring scheme. The company operates in leasing activities, venture capital and factoring.
BFC President Imbang J. Mangkuto said on Thursday that “PWC was expected to come up with a debt restructuring scheme within no more than 10 weeks.”
01/11/2001
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Central Bank Governor Sjahril Sabirin is facing a possible four year imprisonment for allegedly being involved in corruption linked to the Bank Bali scandal, which led to government losses of some Rp 904 billion (US$96.2 million).
Sjahril was also ordered to pay a Rp 30 million fine.
Prosecutor Y.W. Mere told the trial at Central Jakarta District Court on Wednesday that Sjahril had abused his authority as the governor of the central bank in approving the loans of the Indonesian Bank Restructuring Agency (IBRA) to Bank Bali.
01/11/2001
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The abbreviated accounts for the year ended 31 March 2001 have today been released by factoring company Ashley Commercial Finance, whose head office is in Cheshire. BCR Publishing have spoken to Managing Director, Jonathan Cranston, to discuss the implications of the accounts and plans for the company’s future development.
31/10/2001
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Eurofactor (UK) Limited, backed by Credit Lyonnais and Euler (Europe’s largest credit insurance company), is launching a Thames Valley business, under the leadership of Russell Warner and Phil Oakes, to focus on small and medium-sized growth-led enterprises in the M3 and M4 corridors.
31/10/2001
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