In an effort to boost Malaysia’s SMEs’ business credibility, Dun & Bradstreet Malaysia (D&B) has launched a credit rating certification for small and medium enterprises, reports BERNAMA.
D&B stated that with the introduction of the credit rating certification, firms would be able to make use of D&B’s credit rating expertise and uncover potentially lucrative business opportunities.
Since 1841, D&B’s credit rating has served as a reference for firms to access credit risks and determine the amount of credit to be extended to potential business partners. This rating is calculated from a composite of weighted scores from different factors of a firm.
Such a rating allows Malaysian companies to better manage business risks.
According to D&B, the need for credit rating certification has become more crucial for firms in Malaysia to both safeguard and expand their business interests regionally and eventually, globally; as the Malaysian government implements initiatives to propel the economy through its Economic Transformation Programme.
D&B’s credit rating certification will be an add-on value to these firms, according to D&B Malaysia’s Marcom and Product Manager Eugene Zachariah.
Malaysian firms will also be able to seek professional advice from D&B to improve their credit ratings.