Credit Bureau Asia to explore China credit bureau market under the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity ("CCI") framework
Singapore, 12 April 2023:
SGX Mainboard-listed Credit Bureau Asia Limited (“CBA”, “亚洲
征信有限公司”, and together with its subsidiaries, the “Group”), a leading player in the credit
and risk information solutions market in Southeast Asia, would like to announce that it has
signed a Memorandum of Understanding (“MOU”) with China-Singapore (Chongqing)
Demonstration Initiative on Strategic Connectivity Administration Bureau (“CCIB”) (collectively,
the “Parties”) to explore cross-border credit bureau cooperation under the CCI framework.
Mr Kevin Koo, founder and Executive Chairman of CBA, commented: “China is a massive
market with abundant opportunities, and I believe this is a good time for CBA to explore
entering the China credit bureau market. I look forward to working closely with CCIB.”
Mr Peng Zhiming, Deputy Director-General CCIB, remarked: “CBA is an experienced player
in the credit bureau industry in Southeast Asia. We are delighted to work with CBA to explore
cross-border credit bureau cooperation between China and Singapore, and we believe that
this will benefit the Chongqing financial industry.”
*From Left: Mr Kevin Koo and Mr Peng Zhiming
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About Credit Bureau Asia Limited (www.creditbureasia.com)
Formed in 2002, Credit Bureau (Singapore) Pte Ltd (CBS) is a joint venture between the Association of Banks in Singapore (ABS) and Infocredit Holdings Pte Ltd (Infocredit). Infocredit is a subsidiary of Credit Bureau Asia Limited and has another shareholder, Equifax.
CBS is Singapore’s most comprehensive consumer credit bureau bureau that has full-industry uploads from all retail banks and major financial institutions and a data repository of almost 4 million unique entities. CBS aggregates credit-related information amongst its 32 participating members and presents a more complete risk profile of a customer to credit providers, assisting them with the enhancement of their risk assessment capabilities. Credit Bureau (Singapore) Pte Ltd (CBS) is a subsidiary of Credit Bureau Asia Limited (CBA).