As a wholly-owned subsidiary of Fullerton Financial Holdings under Temasek Holdings (Singapore), Fullerton Guarantee was founded in Dec., 2007 under the approval of the Ministry of Commerce with a registered capital of USD90 million. It increased its capital up to SD238 million (or approximately USD182 million) by the end of 2010, and up to SD356 million (or approximately USD300 million) in 2011. It officially opened on Sep. 8, 2008 with its headquarters located in Cuifeng Tower in the Greenland Plaza of Gulou District, Nanjing.
Temasek Holdings was founded in 1974 solely by the Ministry of Finance of Singapore while its affiliate Fullerton Financial Holdings has maintained cooperation and investment relationships with Bank of China, China Construction Bank and China Minsheng Bank. Given the background of China's proactive encouragement and support for SMEs, corporate guarantors are embracing a boom in the current period. The development of the guarantee industry brings along benefits to both the nation and the people. The establishment of Fullerton Guarantee offers effective financial support to our domestic SMEs to help SMEs, private economy and overall economy grow in a sound manner. Up to now, Fullerton Guarantee has obtained 36 licenses for subsidiaries in 11 provinces in China. Holding a staff of over 600 people with an accumulated value of more than RMB8 billion guaranteed, the company is among the largest and most adequately-funded foreign credit guarantor for SMEs in China. It paid a total tax of nearly RMB10 million in 2009, close to RMB15 million in 2010, and almost RMB34 million in 2011.
In order to facilitate its rapid growth, Fullerton Guarantee increases its registered capital, strengthens its strategic cooperation with other financial institutions and enlarges its scope of business every year according to its outlet expansion and business development. Its total investment is expected to grow up to USD1 billion within five years.
Nanjing is a place where talents and businesses are highly concentrated and developed, and that is why Fullerton Guarantee located its China Headquarters here. In making significant efforts to support guidelines and key works of various municipal authorities, the company has exerted social benefits, direct or indirect, to boost the economy, promote local development, satisfy social demands, create jobs and improve living conditions. In this way, it commits itself to social compliance as a corporate citizen and makes its own contribution to the growth of the Chinese economy.
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