Bibby to tap growing Singapore economy

INVOICE finance firm, Bibby Financial Services (BFS), has launched its first office in Singapore.
 
The move follows last year’s openings in Hong Kong and New Zealand to complement existing operations in India and Australia.
 
Bibby sees Singapore as a lucrative market with exports worth $351.2bn and growth expected to more than double by 2026.

“BFS’s expansion into the market is in line with its continuing focus on delivering a full range of international trade products to clients worldwide,” said the company, a division of Liverpool-based conglomerate Bibby Group
 
BFS now operates in 15 countries across Asia Pacific, Europe and the Americas, advancing funding of around £6bn to small and medium-sized enterprises (SMEs).

Chief executive Simon Featherstone said: “Our opening in Singapore reaffirms our commitment to building a strong presence in the heartland of Asia. As the fastest growing economic region in the world, we are ensuring the delivery of local expertise in key markets to enable our clients to take advantage of existing and emerging trade flows.
 
“Our overarching goal is to support the funding requirements of a greater number of small and medium-sized businesses across the globe and this latest venture will ensure we continue to develop our flexible trade finance packages.
 
“The levels of exports coming out of Asia into European and North American markets, where we already have a strong presence, make this an important step in maximising our network across these three continents. Britain’s overseas trading is beginning to pick up again, as we saw in the third quarter this year, according to the latest figures from the Office for National Statistics.”