Funding specialist Bibby Financial Services (BFS) expands operation in Asia, offering 

factor financing to Singapore's small and medium enterprises with operations across the Causeway to Malaysia.

The company opened in July an office in Iskandar Malaysia with the plan to provide factor financing to Singapore SMEs.

Currently, the Iskandar branch is working with Bibby’s existing clientele.  It will finance subsidiaries and offices in Malaysia by providing cash flow solutions through accounts receivables financing such as factoring and invoice discounting.

“The growing number of SMEs in Malaysia translates to greater demand for alternative financing services to spur their growth,” says Ian Watson, Asia Pacific CEO of Bibby Financial Services.

BFS is one of the world’s leading global non-bank debtor finance specialists, providing over US$1.06 billion in lending to over 7,000 small and medium sized business owners in 16 countries worldwide.

BFS recently appointed Alan Wong as director of sales as part of its expansion plans into the region.  Alan has over 20 years of experience in factoring and asset-backed financing.  Prior to joining BFS, Alan was the vice president & head of SME factoring and hire purchase at Hong Leong Finance Limited.  Before Hong Leong Finance, Alan was the head of SME sales at GE Commercial Financing Singapore Pte Ltd.

Singapore is BFS’s regional headquarters which oversees business activities in Singapore, Hong Kong, India, Malaysia, Australia and New Zealand.  Wong role includes looking after the newly-set up office in Iskandar.