The G1 to G7 government building contractors in the country are advised to work with corporate financier Invoice Niaga to gain access to qualified suppliers with terms that better meet their company's needs.
Director of Nan Sun Timber Hardware Sdn. Bhd., Danny Loo said the approval to get supplies was easier with the financier Invoice Niaga.
"We have never found corporations like True Capital Asia that can help contractors get credit facilities in a fast and easy manner.
"In terms of risk, business affairs are definitely a risk nevertheless after meeting Invoice Niaga (it is different) because Invoice Niaga is a corporate company. Consequently we are more confident with corporate financiers and contractor credit limits are increased due to the letter of financial support provisioned by Invoice Niaga," he said when was met with recently.
Nan Sun Timber Hardware Sdn. Bhd. deals in business supplies based on building materials, trading of hardware and shipping of minerals and logistics.
Asked if it would be easy for new contractors to obtain supplies with the support of Invoice Niaga, Danny added that only through the Letter of Undertaking (LoU), the approval process would be faster due to financial support assurance. He added that trust and faith in the financial credibility of contractors are key essentials for success in any business transactions and the presence of Invoice Niaga in the chain fortifies our confidence.
He further elaborates that “For new contractors, who have no track record with us, they will need to provide documents such as bank guarantees and first deposits before delivery.
"But with Invoice Niaga, supplications only through LoU, makes the approval process faster. There is no need to wait longer for the approval process that is to verify the number of credit facilities approved, the terms of payment duration and so on.
According to Danny, he is confident that his company will welcome new contractors who want to make transactions and work with them through Invoice Niaga.
Asked about the advantages of Invoice Niaga over other financial institutions, he said, in terms of ease of dealing between suppliers and Invoice Niaga, it was only through LoUs and work indents. This means that the processes are faster and easier compared to other financiers in the market.
Therefore, he added that he could know the amount that could be given to the contractor based on the amount of work indents.
"If our company wants to do business with any contractor, whether new or old we need a bank guarantee from them. If they request a bank guarantee from any bank agency, they will need a large amount of funds to obtain a credit limit big enough for supplies required in their projects.
"In terms of transaction facilities, suppliers with TCA, it is only through LOUs and work indents so we can know how much we can give to contractors based on the amount of work indents," he reiterated once more.
Based on the written testimony above if you have any queries or doubts pertaining to the nature of our business, give us a call at 03-7890 0071 and our team of financial experts especially in the supply chain would attend to you. Or fill out our Online Form. We will contact you within 24 business hours.
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