Following the successful launch of the revolutionary online commercial banking service last month, Dah Sing Bank Commercial Banking Division today announced a unique, one-stop export financing service Export Link. The new service not only eases the exporters' cash flow problem but also saves their time.

Mr Derek Wong, Managing Director of Dah Sing Bank noted in today's launching press conference, "In pursuit of our innovative spirit and practical approach, Dah Sing Bank has partnered with the Hong Kong Export Credit Insurance Corporation (ECIC) and Tradelink to launch Export Link. This one-stop export financing product, which has bundled with a number of value-added services, is of particular value to exporters and to the export-oriented economy of Hong Kong."

Export Link users will enjoy loan/financing facilities from Dah Sing Bank on the strength of ECIC policies as well as the bank's arrangement for export credit insurance coverage with ECIC. In addition, Export Link users will also benefit from the convenience of making electronic trade declarations via Tradelink Service Centre operated by Dah Sing. Unlike other export financing products offered on the market, this three-in-one banking service will simultaneously provide trade financing for exporters and save the their time and efforts in submitting forms to different locations.

As soon as the users sign back a debit authorisation form and an application form for Export Link, Dah Sing Bank will arrange for them insurance coverage with ECIC and the subsequent application for credit limits on their overseas buyers. The loan/financing facility will take into consideration of both Dah Sing's lending criteria and the buyer credit limit offered by ECIC after their professional assessment of the overseas buyers' credit standing. Credit line of up to HK$3 million will be granted against the presentation of DP/DA export documents with a maximum of HK$1 million per overseas buyer.

Since the loan/financing facility of Export Link is based on the ECIC policy that encompasses the functions of credit management and risk monitoring, users are not required to produce additional tangible security. Thus, this new export financing product ensures the exporters not to miss out on business opportunities due to cash flow problem. Besides, the exporters under this scheme can save time on making additional arrangement with ECIC on insurance coverage while enjoying the privileged insurance packages.

On top, the exporters who are using Export Link can enjoy not only trade financing and assistance of shipment declaration to ECIC but also the convenience of submitting trade declarations via Tradelink Service Centre to be operated by Dah Sing. For this reason, the users can do away with the trouble of submitting export documents and government forms to different locations. All these services require no extra handling fee.

Mr Wong of Dah Sing added, "With our alliance with Tradelink and the only bank in Hong Kong being appointed to operate the Tradelink Service Centre for electronic trade declarations, we are best placed to provide a truly one-stop export financing service through Export Link that we launched today."

Attending today's press conference also included Mr Justine Yue, Chief Executive Officer of Tradelink and Mr Thomas Yiu, Commissioner of ECIC. Being the two strategic partners of Export Link, they agreed with the dual benefits of Tradelink in terms of financial arrangement and logistic support for exporters.

Following the speeches, all the officiating guests performed a symbolic act to formally launch Dah Sing Export Link in Hong Kong.

Established in 1947, Dah Sing Bank is a wholly-owned subsidiary of Hong Kong-listed Dah Sing Financial Holdings Ltd. The bank's Commercial Banking Division is run by a team of experienced and qualified financial professionals. Dedicated to providing innovative and comprehensive quality banking services, the Division has a strong and well-diversified customer base. The range of financial management services offered by the Division includes trade financing, property mortgage, overdraft and account management.

Customer hotline for Dah Sing's Export Link: 2507 8122, website for Dah Sing's Commercial Banking Division: (http://www.cbd.dahsing.com).

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