Accessible Credit Risk Tools for Chinese Executives

T3P LIMITED is pleased to advise that the Chinese language (Mandarin Simplified Characters) version of Global Credit Management - an Executive Summary is available.

The Authors are grateful to have had this opportunity to make such key information accessible to Mandarin literate executives and students. The original English text was adapted prior to translation in order to ensure it would be understood in the reader’s context.

This book is ideal for Chinese business executives of all types; Chief Executives (CEOs), Chief Financial Officers (CFOs), Treasurers, Credit Managers, Entrepreneurs starting or running their own businesses, and students of business practice preparing to face the tough challenges of business management.

It has been designed to provide the essential basic information needed to understand payment risk management in a domestic and international setting, with the addition of a practical tool kit covering the essential aspects.

Above all it is easy to read, Dr Jing Zhang commented; "I have enjoyed greatly reading this book as it has presented this complex subject in a very light and lively manner. The authors have summarised the entire world of credit management within an effective length, focusing on the practitioners’ perspective."

Professor Yang commented; "I believe this book should be extremely useful and helpful for Chinese firms and managers to learn about international practices and standards in credit management and improve their competitiveness."

The Hong Kong based magazine Asset Publishing & Research Ltd reported on October 28; “Taiwan and China are the markets that are the least 'credit-friendly' in the region with less than 40% of respondents conducting business-to-business (B2B) sales over credit, a new survey shows.” The result of this research strongly supports the notion that the practical skills and knowledge imparted in this book are urgently needed in China. (http://www.theasset.com.hk)

Click here to read the introductory pages, which have been translated into English to enable you to judge the book's value for yourself; the original Chinese text is also included.

The book (ISBN: 978-988-99586-1-9) consists of 250 pages; unfortunately the Paperback version is out of print so only a PDF electronic format is available. To purchase the electronic version (an eBook) click here.

BarrettWells

Once again the major Credit Rating Agencies (S&P, Moody’s and Fitch) have failed; once again they are being reprieved…

The following extracts from recent BBC.com reports point out only the most recent in a string of failures clocked up by the major credit rating agencies. Yet once again all we hear from these agencies is that once again they are reforming.

The message is …..do not rely solely on the credit ratings published by these agencies when making credit risk decisions. Treat such ratings merely as ‘input’ to be considered as part of your overall analysis, or you will risk more than credit, you’ll risk your company and your job…..

QUOTE:

Problems found at ratings firms

A report into the much-criticised activities of credit rating agencies has found conflicts of interest at the firms it studied.

The US financial regulator, the SEC, found that the firms, which rate investments, had broken its rules.

It began looking into their work after they gave positive ratings to sub-prime related investment products whose value later slumped.

The agencies are now implementing better procedures, the SEC said.

See: http://news.bbc.co.uk/2/hi/business/7496599.stm

(Editor: We heard the same after Enron and Parmalat, let’s hope this time ‘better procedures’ will mean more useful credit ratings)

Tougher rules for rating agencies

Credit rating agencies could be banned or prosecuted under a draft European Union law aimed at making them more accountable for the advice they give.

Firms that rate debt investments, such as Fitch, Moody's and Standard & Poor's, have been criticised for their role in the sub-prime mortgage crisis.

The new law would replace a voluntary code of conduct.

…..it was generally accepted that the agencies had "failed to reflect early enough in their ratings the worsening of market conditions thereby sharing a large responsibility for the current market turmoil".

http://news.bbc.co.uk/go/pr/fr/-/1/hi/business/7535911.stm

(Editor: So what’s new? This has happened time and time again…..)