KUALA LUMPUR: HSBC Bank Malaysia Bhd's latest trade finance tool for exporters, Forfaiting, has generated transactions of over US$100mil (over RM307mil) in business volume as at the end of March since its introduction in late 2010.
The bank's director for global trade and receivables finance Ng Wei Wei said there had been encouraging take-up from exporters, comprising small and medium enterprises (SMEs) and corporates, for the trade finance tool and the average bills size being forfaited ranged from US$40,000 to in excess of US$2mil per bill (sales invoice), depending on the nature of the industry.
