Hospitality firms, SCCB team up to rein in rampant credit risks

Over 80 hospitality firms will benefit.

The Hospitality Alliance Singapore (HAS) and the Singapore Commercial Credit Bureau (SCCB) have teamed up to help meet the risk management needs of the hospitality industry in the country.

According to a joint release, the all-new SCCB Hospitality Credit Report will support firms within the industry in their evaluation of low, medium and high-risk business transactions when extending credit terms to their business partners in Singapore.

Essentially an early preventive measure in risk management, firms within the industry will be provided with key business information as well as an indepth analysis of the risk profile of their business partners.

“The all-new SCCB Hospitality Credit Report essentially provides a holistic credit assessment based on data which reflects their historical performance as well their propensity for delinquency in the payment of dues. We believe that the comprehensive information in the Hospitality Credit Report will afford hospitality firms with crucial business insights and more importantly, the early identification of their business partners’ credit risk,” said Audrey Chia, SCCB’s Chief Executive Officer.