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Ikhtiar Factoring

 

 

Ikhtiar Factoring

Factoring Finance Institutions or Factoring companies have been in existence in Malaysia since the early 1980s with majority of these companies owned by the banks or operating as a unit within the banks. Ikhtiar Factoring Sdn Bhd, a privately owned company, have for the past 15 years, since year 2000 dedicated to the contracts financial needs of companies awarded with government and GLCs procurement contracts.

Ikhtiar Factoring Sdn Bhd (IFSB) was incorporated on the 13 March 2000 to carry on the business of domestic, export and import factoring and equipment leasing. IFSB is a financial services company regulated by Bank Negara Malaysia under the Financial Service Act 2013. It is also an approved factoring company of the Ministry of Finance.

IFSB is a specialist factoring company concentrating only in the factoring finance of government or government owned companies contracts/procurements receivables.

Ikhtiar Factoring competitive edge is its prompt decision making on approvals or non-approval of applications receive, which is on average within 7 working days, whilst issuance of trade finance instruments (Letter of Credits and Bank Guarantee) averaging 3 days. IFSB has less bureaucratic process which often prevails in bank-backed factoring institutions. As such the financing of government contracts have overtime made Ikhtiar Factoring the premier choice of companies that obtained government contracts. IFSB have for the past 15 years achieved business volume exceeding the RM1.0 billion mark with client base of 1,000 clients.IFSB have also created a niche in the market for efficiently offering similar financing package as offered by banks without the hassle of   bank’s slow and cumbersome processes. Ikhtiar Factoring Sdn Bhd is an investee company of PNS since December 2013. 
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