A senior executive for the global electronics giant, Panasonic, says letters of credit (L/C) are available in Malaysia due to local banks' good liquidity.

Another senior executive at a Malaysian company that makes printed circuit boards (PCBs) also reports no problems accessing trade finance.

Dealer continuity

Panasonic Malaysia's corporate communications and branding assistant general manager, Azizah Wahid, told local media that the company had no problems obtaining L/Cs from its dealers.

"To date, our dealers have been prompt in their payments and have never complained about the difficulty of getting L/Cs from banks," he said, although he did concede that late payments were increasingly noticeable.

Tougher times

Managing director of GUH Holdings, Datuk Kenneth H'ng Bak Tee, also reckons his group had been extended trade finance facilities as usual, although he did think that new businesses might find it tougher to obtain L/Cs or other trade finance facilities.

Although GUH Holdings still has access to trade finance facilities, its requirements are less demanding because its local production of PCBs is down by 30-50 per cent compared with a year ago.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.