With a then estimate of 500,000 participants, Vietnam’s “Gray Market” was a quick and easy process created by hopeful individuals who wished to cash in on the country’s economic boom. As reported in Time Magazine, retail investors with aliases such as “warrenbuffet74” frequented unsanctioned markets composed of websites and internet chat rooms allowing users to trade unlisted shares of, formerly 100% state owned, Vietnamese companies.

Brought on by the country’s move to partially privatize 3600 state owned companies, pure demand fueled the creation of web sites such as Santoc.com that reported accelerating growth in users hoping to make their profits on the ad hoc market, growing at an average of 300 users per day. However, this was back in Feb 22, 2007.
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In our continuous effort to be more consumer friendly, CBS introduced My Credit File on September 2006. As long as consumer has a SingPass ID, he or she can conveniently access their credit report online via our website www.creditbureau.com.sg. We are very encouraged to know that on average 3000 consumers accessed our website on a monthly basis to obtain their credit report.

In September 2007, we also issued enhanced credit reports that allow consumers to benchmark their level of credit exposure. Consumers who request for a copy of their credit report can view the Credit Card, Personal Loan, Motor Vehicle Loan and Housing Loan Average Balances of those in their age group. A breakdown of the loan quantum by percentage of consumers in the age group is also provided .            
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The current business environment presents a threat as well as an opportunity for local SMEs. The rapidly growing Asian economy provides SMEs with the impetus to expand to these liberalising markets. Technology has also increased the effectiveness and efficiency of operating a global business. However, Singapore as Asia’s business hub attracts global giants to set up their base here, translating to stiffer competition for SMEs. To stay abreast of the intense competition, SMEs need to discover their niche in the market and improve their connectivity with other businesses.

As such, The 4th SME Credit Bureau Conference, “Surfing the Wave of Increasing Competition”, equipped local SMEs with the tools and resources they need for business readiness and staying ahead of market trends .  
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The Asia Pacific region plays a pivotal role on the global business stage, a result of the expanding economies and growing businesses throughout the region as well as the increasing influence of China, India and Middle East. A new political and economic landscape is taking shape in this region in which SMEs are faced with a new and demanding environment in these markets. Markets in the Asia Pacific provide bountiful opportunities; alongside with the opportunities there are also risks that pose greater challenges for businesses.

The first SME Summit, “Strategizing Your Business Growth: Underlying Risks in Asia Pacific”, highlighted the underlying risks and presented the business opportunities in the region to facilitate business expansion. The summit that was proudly brought to you by Dun & Bradstreet and Standard Chartered Bank, and supported by SPRING, IE Singapore, International Finance Corporation (IFC), the private sector investment arm of the World Bank .
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