RAM Credit Information Sdn Bhd (RAMCI) has inked a Memorandum of Understanding with Selangor and Federal Territory Engineering Motor Parts Traders Association (EMPTA) members, to mark the collaboration on a common framework to protect and enhance the welfare.\u00a0<\/p>\n
With this agreement, RAMCI will now provide EMPTA members with critical business and credit information via RAMCI\u2019s Credit Track, a web-based online system accessible 24\/7, to assist them to effectively manage their credit risk.\u00a0<\/p>\n
At the same time, the RAMCI Trade Bureau, an independent neutral collaborative platform, will serve as a channel for these automobile parts and components companies to share their customers\u2019 payment behaviour on a reciprocity principle.<\/p>\n
\u201cWith the sharing of overall payment information, EMPTA members benefit from a more holistic view of their customers\u2019 payment history as well as how they pay other trade creditors.\u00a0<\/p>\n
\u201cTheir credit decisions will be based not just on the negative but also positive information,\u201d said RAMCI chief executive officer, Dawn Lai.<\/p>\n
In addition, Lai said, the RAMCI Trade Bureau functions as an alternative debt recovery platform to deter defaulted companies from seeking new credit lines from other trade suppliers or credit grantors.<\/p>\n
\u201cOverall, RAMCI believes this collaboration augurs well for the industry as Credit Track and Trade Bureau are the proven and effective tools to help companies and SMEs minimise the risks of potential bad debts.\u00a0<\/p>\n
\u201cThis is evident in the strong adoption rate amongst SMEs over the past few years.<\/p>\n
\u201cEspecially in today\u2019s challenging business climate, there is an increasing need to look into a customer\u2019s payment history to strengthen our members\u2019 financial management and to help them protect their businesses from potential risks,\u201d added Lai.\u00a0\u00a0<\/p>\n
EMPTA chairman, Law Kwan said:\u201d We are confident that our collaboration with RAMCI will value add to our members and assist them to establish strong fundamentals in credit management.\u201d<\/p>\n
For both EMPTA and RAMCI, this is an important step forward in forging a greater partnership to promote a more responsible business society and improve the speed of payment collection for EMPTA members.\u00a0<\/p>\n
\u201cWith the current economic challenges, companies will need to be vigilant in pursuing monies owed and be more careful when making decisions to extend credit to another company,\u201d stated Lai.<\/p>\n
EMPTA is a non-profit association formed with the prime objectives of uniting and enhancing trade among members, providing welfare and services, protecting the interest and rights of members and fulfilling social obligations.\u00a0<\/p>\n
Currently, EMPTA has over 900 memberships ranging from manufacturers, importers and exporters, distributors, franchise holders, wholesalers and retailers.<\/p>\n
RAMCI, a leading credit information bureau in Malaysia providing comprehensive business and credit information, has over the past decades, helped banks, financial institutions, corporations and SMEs manage their business risks when extending credits to their customers.<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
RAM Credit Information Sdn Bhd (RAMCI) has inked a Memorandum of Understanding with Selangor and Federal Territory Engineering Motor Parts Traders Association (EMPTA) members, to mark the collaboration on a common framework to protect and enhance the welfare.\u00a0 With this agreement, RAMCI will now provide EMPTA members with critical business and credit information via RAMCI\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-1517","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=1517"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1517\/revisions"}],"predecessor-version":[{"id":4901,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1517\/revisions\/4901"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=1517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=1517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=1517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}