The client is a top local food manufacturer and trader in Singapore with more than 60 years of experience serving both local and global businesses around the world. The Group manufactures and supplies food products such as sugar and sweets to their footprint markets across various brands, reaching a consolidated group turnover of c. S$50M in recent years.
The client was facing a liquidity squeeze due to Covid-19 restrictions and needed some short term liquidity to tide over a short period of time.
We reviewed their financial statements, available assets and existing banking facilities. As a result of our analysis, we uncovered that the client (i) faces challenges in monetising their assets to obtain more banking and financing facilities (e.g. no existing facilities and there is a time lag to source suitable funders) and (ii) unsure of the most suitable approach to find financing (e.g.: optimal approach to fulfill objectives within time and financial constraints)
Client engaged CCRManager as an advisor and inhouse CFO / Treasurer to rationalize balance sheet, develop and execute financing solutions. We provided a comprehensive financial plan that would support the business sustainably covering the following:
◦ Build relations with existing banker and engage new financiers.
◦ Develop a portfolio solution using whole turnover receivables financing to finance the growing pool of receivables.
◦ Engage alternative financiers to fill a short term working capital funding gap.
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