The hire of a new head of receivables finance will help develop the firm's secured lending offerings and tap on a growing need among businesses and institutions in the region.
Asset-based finance platform HPD LendScape has appointed market specialist Kheng Leong Lee as its regional representative for Asia Pacific, the firm announced in a press release on Tuesday.
Lee brings with him over 40 years’ experience in providing financial support to SMEs in the APAC region. He joins from FCI, the global representative body for the factoring and receivables finance industry, where he was chapter director for Asia and the regional director for South and Southeast Asia. He was previously managing director of Bibby Financial Services in Singapore, and spent 33 years at DBS Bank, where he was a senior vice president and head of factoring for South Asia.
With his extensive local market knowledge, Lee will be working closely with Dave Smart, regional director of HPD LendScape Australia to strengthen the platform’s reputation in the region, the statement said.
«Priority Market»
«The Asia region is rapidly emerging as an area of significant potential for the secured lending industry and represents an exceptional market of opportunity for us here at HPD LendScape,» Smart said about the appointment.
HPD, which opened its first Asian office in Singapore in May 2019, said Singapore is a priority market for the team. The company’s client base in the region is expanding and demand on the asset-based finance and factoring services is growing, the firm said.
It called the country «a springboard for the region,» accounting for 16 percent of Asia-Pacific's factoring activity (excluding China).
