Additional services are provided to the Company’s clients such as:
- Confirming LC/TR
- Inventory Financing
- Floor Plan
- Contract Financing
- Block Discounting
- PhillipLife Online
- Group Digital Marketing
An additional service for existing factoring clients who import raw material or goods, usually without requiring additional collateral. When the Company’s clients request for the service of LC/TR (Letter of Credit / Trust Receipt), the Company will liaise with the banks to issue LC or TR on behalf of the clients, utilizing the Company’s credit facilities with the banks.
Another form of credit service which enables clients to advance cash from their inventory on the condition that the inventory must have a clear market price and definite purchasers and the products have not yet been delivered. Once the products are delivered, the Company will collect payment directly from the purchaser.
A service provided to auto dealers to provide funding for purchasing of cars for distribution.The clients must possess authorized dealership and submit documents on the right of ownership to the Company. Monies are repayable after sales of the cars.
A service to provide facility when clients have purchase order, firm contracts (sales/ service) but lack of funds to execute order. Cash advances could be made for clients to purchase raw materials to manufacturing to shipment of goods. Clients can submit contracts for this facility and the Company will provide advance payment to pay their suppliers. Upon completion of the contract, clients will submit invoices and delivery notes on their customers to the Company for factoring.
Block discounting facilities are a convenient method of financing a trader's hire purchase, credit sale or rental agreements. We acquire the trader's rights under the agreements at a discounted valuation and the gross value will be repayable by equal monthly installments. The valuation of discounted agreements will be subject to negotiation.