By Ian Poh
COFACE chief executive Jer�me Cazes said Singapore's A1 rating means that the Republic is 'one of the safest places for business'. 'It means that Singapore companies are very strong and pay their debts,' he added.
Hot spots around the world. (country risk analysis): An article from: Security Management
The Coface website explained that Singapore boasts the 'best governance' in Asia, underpinned by 'an effective legal system that facilitates claim collection and a high level of financial transparency'.
The conference covered international and regional trade issues in the wake of the financial crisis, in particular issues like China-led growth and intra-Asean trade in the second half of this year.
Risk mgt. can aid developing markets: educator. (Academy of Insurance's Sherif H. Khan) (International Insurance Society Conference Report): An article ... & Casualty-Risk & Benefits Management
It was attended by more than 500 local and regional business leaders, risk specialists and economists.
Trade and Industry Minister Lim Hng Kiang was the guest of honour.
'Singapore can play a key role in providing political risk insurance to companies engaged in cross border investments in the region,' he said in the keynote speech.
SINGAPORE is the least risky place in South-east Asia to do business, and has regained the top possible risk rating, according to global credit insurer Coface.
Risks, Rights and Reforms: A 50-Country Survey Assessing Government Actions Five Years After the International Conference on Population and Development
French-based Coface on Tuesday announced its latest country risk ratings, which assess the average risk of payment defaults by companies in a given country.
They take into account factors such as a country's economic and political prospects, and the business climate.
Singapore's rating for June jumped from A2 to A1, the best possible rating. Other regional ratings included Malaysia on A2, and China and Thailand both on A3.
The country risk rating has seven grades - A1, A2, A3, A4, B, C and D - and is updated by Coface every three months.
Singapore - which is the only country in Asia besides Japan to get an A1 rating - last scored an A1 in January last year. Elsewhere, the United States scored an A2, Britain an A3 and debt-laden Greece an A4.
The announcement of country risk ratings was made in conjunction with the Coface Country Risk Conference 2010 held for the first time in Singapore on Tuesday.
