Reply to PQ on role of finance companies after bank merger
Issues Raised in Parliament
Reply to PQ on roles of finance companies after bank mergers
Date : For Parliamentary Sitting on 25 Jul 2001
To ask the Deputy Prime Minister whether he will allow finance companies to assume a wider role if the result of bank mergers limits the access of the small and medium-sized enterprises to financial services.
1. Finance companies are already active lenders to SMEs. For the larger finance companies, a significant portion of their total loans are extended to SMEs. MAS has also given well-managed finance companies greater leeway to offer other services which will benefit all their customers, including SMEs. These include the issuing of corporate purchasing cards, and the granting of IPO financing and secured syndicated loans subject to conditions.