Investment date: 24 Oct 2008 Shareholdings: 100% Headquarters: Chengdu, Sichuan, People's Republic of China

To help stimulate growth of the micro financing industry

In line with FFH's vision to make a difference in China, Fullerton Credit (FC) was established to bring our expertise in small-business-financing to serve China's self-employed mass market (SEMM).

In September 2008, the Chengdu government granted an operating license for FC to set up a franchise to provide financial services to self-employed mass market customers (SEMM) who constitute the backbone of China's economy. The company officially launched its business in January 2009. This is our first critical step in fostering the growth of China's small business-finance industry. FC's headquarters is located in Chengdu city, the capital of Sichuan province in the West of China.

Focus on our customer

The China SEMM market, despite being one of the world's largest and highest growth potential markets, is still immensely underserved. Understanding customers' financing needs and business environment, FC has developed a customer-centric community approach to deliver 4 key unique value propositions to our customers:

Trust
We emphasize on trust-based relationships by treating our customer with respect and transparency

Accessibility
We focus on serving micro and small businesses with door-step services at customers' convenience

Localization
We establish our branch presence in the heart of the community and are committed to the nurturing of the local community's development

Speed and simplicity
We offer best-in-class turnaround time and a simple application process

Commitment to our community

FC's vision to support the China SEMM is not limited to our customers, but also extended to the community at large.

The May 12 earthquake in Sichuan devastated several areas in the province. FC promptly dispatched an earthquake relief team to support the government's relief program. In addition, Temasek and FFH, donating more than SGD 1mn in relief goods and reconstruction funds, are one of the main sponsors in the reconstruction project of Bailu School in Pengzhou district, which was severely hit by the May 12 earthquake.

Besides the immediate relief support, FC foresees the importance of a long-term sustainable development program for children. "A Blaze from a Spark" program was launched by FC in January 2009 at Bailu School to put in place a systematic and continuous development program to enhance the learning of Bailu School's children. The program, consisting of 4 modules including 1) Little library, 2) Little Blackboard, 3) Little Playground, and 4) Little Financier, is aimed at developing children's physical character, cultural character, technical skills, and professional skills.

Financial & Operating Highlights

  S$m, y/e 31 December 20162015 2014 2013
 Branches 31 36 31 25
 Employees 616 812 925 689
 Total Assets 631 855 792 491
 Shareholders Equity 350 376 361 284
 Net Income (8) (15) 26 14
 ROE % (2.3)(4.1) 8.2 5.6

Further information can be found at the website http://www.fcsgroup.com.cn

Victor Lee

Interim CEO

Victor is currently the Head of SME & Commercial Banking at FFH, and was recently appointed in late March 2016 as the new interim CEO for FC.

Victor comes with more than 20 years of experience in retail and commercial banking. He was most recently the Managing Director, Group Head of Group Business Banking in United Overseas Bank, where he was responsible for the Small Business Segment across Singapore, Malaysia, Thailand and Indonesia. Victor was credited for re-shaping and rebuilding the business, becoming the highest growth segment within the bank in recent years.

Prior to UOB, Victor was with Standard Chartered Bank; beginning in the SME space as Global Head, SME Deposits & Treasury, and subsequently responsible for SME Banking business in Singapore and Taiwan; before landing in China and was responsible for Distribution (branches, contact centre, remote banking), New Business and Preferred Banking segments for the Consumer Banking business. Prior to Standard Chartered Bank, Victor was with Citibank, where he was last Director for CitiBusiness, and worked in both the corporate banking and consumer banking segments.

Victor holds a Bachelor’s degree in Applied Science (Merit) from the Nanyang Technological University, Singapore, and a Graduate Diploma in Financial Management from the Singapore Institute of Management. In 2008, Mr Lee was awarded “Top 50 Promising Young Leaders” award for bankers under 40 in Asia Pacific and Middle East by the Asian Banker.