The Official Web Site of the
Hong Kong Credit and Collection Management Association

P.O. Box 2679, General Post Office, Hong Kong.
E-mail: enquiry@hkccma.com Tel: 852-81168816 Fax 852-81168826

CreditOnDemand- HKCCMA "Credit Practitioner/Team of the Year" 2008-2009 Credit Team of the Year. From left to right: Mr. Timothy Kwong, Mr. Alan Wong, Ms. Margaret Tse and Mr. William Cheung. Far Right is Ms. Alison Wan (Sponsor of the Award)

We are pleased to announce the winner of the 2008-2009 CreditOnDemand- HKCCMA Credit Parctitioner/Team of the Year is the credit management team of Global Payments Asia-Pacific (HK) Ltd. This is the first year that the Association had accepted team nomination to compete in the Annual Award Program besides individual nominations. The winning team consists of four members, Ms. Margaret Tse - Senior Manager, Credit Payment; Mr. William Cheung - Manager, Credit; Mr. Timothy Kwong - Credit Analyst and Mr. Alan Wong - Credit Manager.

The team received the Award together with a cash prize of HKD 20,000 from Ms. Alison Wan, the Managing Director of Credit On Demand Ltd. ( sponsor of this year event) on December 2 2009 at the Annual Award Presentation Night. Credit On Demand Ltd. is an online information services provider on litigation records and public searches.

Mr. Alan Wong represented the winning team giving the winner's speech.

The Judge Panel of this year include:
Ms. Kelly Chan (Financial Controller –Moet Hennessy Diageo Hong Kong Ltd. and Past President of ACCA))
Mr. Simon Lee (Senior Instructor (Accounting /Finance) School of Hotel and Tourism Mgt – The Chinese University of Hong Kong )
Mr. William Lee (Lecturer - School of Accounting and Finance The Hong Kong Polytechnic University )
Ms. Rosina Leung (Managing Director – Head Treasury and Trade Solutions Global Transaction Services Citicorp International Ltd)
Mr. Patrick Rozario (Principal - Business Risk Services Grant Thornton)
Mr. Benedict Wong (Chairman – HKCCMA )
Ms. Grace Wong ( General Manager – Coface Greater China Services)

Association 's Annual General Meeting Dinner held on December 2 2009 Mr.Benedict Wong, FCCMA, MCE, Chairman of HKCCMA gave his Chairman Statement

The Association's Annual General Meeting was held on December 2 2009 at the Churchhill Room of Park Lane Hotel, Causeway Bay. This year marked the first Association's annual dinner organized for its members and guests after the Annual General Meeting. In the past year, the AGM of the Association ended with a cocktail reception. Some 50 members and guests attended the annual dinner this year.

Mr. Benedict Wong, FCCMA, Chairman, (centre) speaking with members at the dinner

In the AGM , the Association's Chariman, Mr. Benedict Wong reported past year's achievement of the Association and announced the new ambitions of the Association in the coming year with his speech on the Chairman Statement . Each member is also presented with the financial statement of the Association and from the Association ".

Left to right: Mr.Francis Yeung, FCCMA, Chairman of Membership Committee 2009-2010, Mr. Bobby Rozario, FCCMA, MCE, Vice-Chairman 2009-2010 and Ms. Alison Wan, sponsor of Annual Award Program 2008-2009

Draft Regulation Issued in China on Credit Reference

Source: BEIJING, Oct. 12 2009 (Xinhua)

A draft regulation, issued to solicit public opinions , bans credit bureaus in China from collecting personal information such as appearance, genetic data, finger prints, blood type and disease history. The draft regulation on credit reference was revealed by the State Council Legislative Affairs Office at its official website here.

Credit bureaus are also forbidden to collect information about a person's ethnic identity, family, religious belief and political affiliation, according to the draft. They can collect financial data such as a person's income, deposit, property and taxation only if the person approves it in a written document and is well informed about the possible effects, the draft rules said. They also need the person's approval to provide his or her information to their clients. Credit bureaus can collect financial data about corporations and organizations but need their approval to provide the data to their clients.

However, the Credit Reference Center run by the People's Bank of China, the central bank, is exempt of the restrictions.The center, a non-profitable organization founded in 2003, is in charge of developing and operating a nationwide credit data base. Banks are required to report credit data of their clients to the center, according to the draft. The center can also collect information about individuals, corporations and organizations from companies and organizations.The government, law enforcement departments and other legal administrative organizations can use the credit data at the center in line with laws, according to the draft rules.Under the draft rules, a credit bureau can do three sorts of business in China , providing credit reports, credit scoring and credit rating.

To set up a credit bureau, a minimum of 5 million yuan (733,000U.S. dollars) will be needed as the registered capital. But for a credit bureau that provides credit reports of individuals or companies, the amount will increase to 50 million yuan (7.33 million dollars).

Banks are banned from providing information for credit bureaus without a qualification granted by the credit reference regulator, the People's Bank of China.The rules aim to regulate the credit reference business in China , said a statement from the office. The public can log on to the website or write to the office to submit their opinions