Thai Credit Guarantee Corporation (TCG) and National Science and Technology Development Agency (NSTDA) announced cooperation to push forward Technology Guarantee through TTRS model

Stocks and Financial Services Press Releases Wednesday February 7, 2018 16:36
Bangkok--7 Feb--Ministry of Finance

Mr. Nitid Manoonporn, President of TCG, together with Dr. Narong Sirilertworakul, President of NSTDA, announced progress in promoting technology-based/innovative SMEs through the use of Thailand Technology Rating System, or TTRS, at INC 2 Building, National Science and Technology Development Agency, Thailand Science Park (TSP), on 7 February 2018.

TTRS was developed on the basis of KTRS, a distinctive technology rating system of the Korea Technology Finance Corporation (KOTEC). KTRS has earned world-wide recognition as a good practice and its excellence has been verified through its contribution to supporting innovative SMEs in Korea. "KTRS has been instrumental in supporting innovative SMEs as it is a proven successful technology rating tool that has been recognized as a good practice by renowned institutions in many countries" said by Dr. Narong and Mr. Nitid.

TCG plans to launch a new credit guarantee product with TTRS worth Baht 500 million for technology-based/innovative SMEs. Currently TCG is under discussion with financial institutions that are interested in joining this scheme before proposing the draft guarantee product to the Ministry of Finance for approval. This new product is expected to be launched during the second or third quarter of this year with anticipated 50 SMEs applying for the scheme.

The success of setting up technology guarantee scheme with TTRS model was attributable to close collaboration between Thai government and Korean government, an opportunity provided by the Knowledge Sharing Program (KSP) of the latter. Under the program, TCG and NSTDA worked closely with KOTEC, which showed sincere commitment in sharing with Thai experts valuable knowledge and experiences in helping the SMEs in this segment to get access to finance. Over 2 years of KSP implementation, the program has enabled Thailand to develop the TTRS that could effectively identify and facilitate promising technology-based/innovative SMEs with access to funding sources, which will consequently help to enhance economic value of Thailand. TCG and NSTDA expect to have a continued cooperation among TCG, NSTDA, and KOTEC for the purpose of promoting and supporting technology-based/innovative SMEs of the 2 countries in the future.

Latest Press Release

Introducing Apiflex, Apigate's Partner Bundling Platform for Customer Acquisition and Retention

Apigate, a trusted provider to Telco Operators and Digital Merchants for reach, acquisition and monetisation, today announced the launch of its new dynamic content bundling platform "Apiflex". Apiflex enables Digital Merchants and Telco Operators to...

Filinvest and 'Plug and Play' form alliance to accelerate digital innovations in the Philippines

Leading Philippine conglomerate Filinvest Development Corporation and Plug and Play, considered the foremost global innovation platform, join forces to fuel innovations in property and real estate technology, as well as in adjacent sectors in energy and...

Fitch Affirms Five Thai NBFI Foreign Subsidiaries' National Ratings; Places Capital Nomura on RWN

Fitch Ratings (Thailand) has affirmed the National Long-Term Ratings on five Thai non-bank subsidiaries of foreign financial institutions as follows: CGS-CIMB Securities (Thailand) Co., Ltd. (CGS-CIMB TH) at 'A(tha)'; Stable Outlook.Capital Nomura...

Green Country Energy LLC Debt Rating Lowered To 'CCC+' On Higher Maintenance Spending; Outlook Negative

SAN FRANCISCO (S&P Global Ratings) May 26, 2020—S&P Global Ratings today took the rating actions listed above. Green Country Energy LLC (GCE) is a 795-megawatt (MW) natural-gas-fired combined cycle power plant in Jenks, Okla. The project...

Shanghai International Port 'A+' Rating Affirmed On Sufficient Resilience Against COVID-19; Outlook Stable

HONG KONG (S&P Global Ratings) May 26, 2020--S&P Global Ratings today took the rating actions listed above. We affirmed the ratings on Shanghai International Port (Group) Co. Ltd. (SIPG) because we expect the company's finances to withstand the...

Related Topics