October 10, Tbilisi, Georgia – JSC Alliance Group Holding (AGH) has entered into a strategic collaboration with Singapore-based leading scorecard analytics firm, Vector Scorecard Group (VSC), and Gauthamma International (GTC). This collaboration was inked through the signing of a MOU among the three companies under the auspices of the Singapore-Georgian Business Forum, in Tbilisi, on October 10th at Holiday Inn Hotel. The signing was witnessed by Ms. Keti Bochorishvili, Deputy Minister of the Ministry of Economy and Sustainable Development of Georgia, and Mr. Ho Meng Kit, Chief Executive Officer of Singapore Business Federation.

This synergistic partnership among AGH, VSC and GTC explores the formation of a financial bureau, as well as contributing towards a thriving micro-finance landscape in Georgia. The signing of the MOU is expected to further strengthen Singapore-Georgia bilateral relations through VSC’s sharing of its technical know-how and expertise in big data and analytics. Businesses that wish to invest or plan to enter into a country in Central Asia like Georgia are now able to tap onto the Bureau platform to identify promising companies.

“Signing a MOU today marks an important highlight for Georgian and Singaporean businesses. AGH’s existing Business Directory can benefit from VSC’s analytics expertise to make its information more predictive and prescriptive, so that we can enhance our offerings and provide more insights on Georgian companies. We hope that through this initiative, more stakeholders will benefit from the information we provide to help them in assessing both listed companies and SMEs in a holistic manner”, - says Mr. Aieti Kukava, CEO of Alliance Group Holding.

Mr. M Nazri, CEO of VSC further comments that “Georgia is an important market for us in Central Asia and we foresee Georgia to be a strong force in the region with its advantageous business climate. The Financial Bureau serves to facilitate both foreign investment and SME development in Georgia. With more strategic information on Georgian companies, SME agencies will be able to identify growth-oriented SMEs for assistance schemes and policy-making, create targeted capacity building programmes and evaluate companies for their government procurement opportunities. Banks, investment companies and micro-finance institutions will be able to conduct due diligence more efficiently with moreobjectivity, to both identify suitable companies to lend to, as well as help those who do not meet the requirements to improve their financial health for future lending opportunities.”

Mr Rajadanran Suppiah, Managing Director of GTC expresses his enthusiasm in exploring opportunities related to SME-lending and microfinancing in Georgia. “There is strong potential in microfinance in Georgia. We believe that our collaboration with AGH and VSC is a great initiative in helping Georgia build sustainable communities with access to more financial resources,” he said.About