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We are brokers based in Dubai and at first we were adamant to refer clients to Kingrise Finance because the internet is filled with scammers pretending to be lenders. But we decided to give Kingrise a try because there were no better alternatives. We have several clients files cut across many countries but we tried Kingrise with a Bahrain customer. The first tranche of our clients loan was transferred today, its a 83,000,000 USD energy project, Kingrise offered to transfer our clients loan in 2 tranches. The first tranche of US$50,000,000 was received today and we are very excited. Second tranche will be transferred to our client after 10 days thereafter I will write a more detailed review of Kingrise Finance Ltd. I do not hide the fact that I was worried that the first tranche of our clients loan did not arrive on the day we were promised, it took 7 days instead of 3 business days, we were told that banks were closed in Hong Kong because of Lunar New Year so understandably things were slow. The rest of our clients loan will be transferred in 10 days, we are glad to be working with Kingrise Finance.
Following are the details I gathered about Kingrise Finance Limited. 1) It does not have a physical presence at the address provided on the website. This was confirmed by one of my friends in China through his contacts in Hong Kong. 2) Company registry in Hong Kong shows that they have not filled tax returns after 2015 even though showing it is active. 3) Their LinkedIn profile shows 1 employee and 44 followers. This is hard to fathom given the company has been in existence since 1999. 4) They require you to pay money upfront which no financial firm/bank will ask you to do.
We are brokers based in Dubai and at first we were adamant to refer clients to Kingrise Finance because the internet is filled with scammers pretending to be lenders. But we decided to give Kingrise a try because there were no better alternatives.
We have several clients files cut across many countries but we tried Kingrise with a Bahrain customer.
The first tranche of our clients loan was transferred today, its a 83,000,000 USD energy project, Kingrise offered to transfer our clients loan in 2 tranches. The first tranche of US$50,000,000 was received today and we are very excited. Second tranche will be transferred to our client after 10 days thereafter I will write a more detailed review of Kingrise Finance Ltd.
I do not hide the fact that I was worried that the first tranche of our clients loan did not arrive on the day we were promised, it took 7 days instead of 3 business days, we were told that banks were closed in Hong Kong because of Lunar New Year so understandably things were slow.
The rest of our clients loan will be transferred in 10 days, we are glad to be working with Kingrise Finance.
We are a Doha based distribution company and involved in importation, distribution and marketing of FMCG products in Qatar, UAE, Bahrain and other GCC counties.
Approximately two weeks ago we applied for USANCE LC 180 days from Kingrise Finance Limited, we paid the fees on Tuesday last week, and today we received the usance lc from Kingrise Finance to make payments to our suppliers (Cross Border) for smooth shipments to us.
This is the second time we will be using Kingrise services, the first transaction was in December and it was a deferred LC of 18 million dollars. The good thing about Kingrise Finance is that all our instruments were issued by HSBC to meet our needs.
We are very happy to be associated with Kingrise and will happily recommend them to any company that is looking for usance lc, dlc or any letter of credit.
Tip for consumers:
If you need letters of credit for cross border trading financing like us then I think you should make sure you request the instrument to be cut or issued by HSBC or any major top 25 world bank.
Following are the details I gathered about Kingrise Finance Limited.
1) It does not have a physical presence at the address provided on the website. This was confirmed by one of my friends in China through his contacts in Hong Kong.
2) Company registry in Hong Kong shows that they have not filled tax returns after 2015 even though showing it is active.
3) Their LinkedIn profile shows 1 employee and 44 followers. This is hard to fathom given the company has been in existence since 1999.
4) They require you to pay money upfront which no financial firm/bank will ask you to do.
Products used:
None
I sent an inquiry about SBLC and their reply 3 days later was no professional at all and i asked how to contact them as their number on the website dont connect, so it was impossible to talk to anyone.
I really dont know how they got positive reviews here!. Well i guess it is easy to write a good review to themselves.
Anyway, be advised that the company is fishing.
My name is Hary Setiawan. I own a 120 room keys midscale hotel located in Makassar, South of Sulawesi, Indonesia. I have been in the hotel business for 20 years.
Since 2 years I needed funding for the renovation and rebranding of my hotel.
I have signed a Management Agreement with Tauzia Hotels Indonesia, a leading and award winning hotel operator in Indonesia.
Tauzia will guide me through with all the technical designs and renovations works in order to conform with the standards.
After renovations are completed, the hotel will be rebranded.
I couldn't get loans within Indonesia because of unfavorable terms and many other factors, and it became impossible for me to get the funding from overseas till a friend introduced Kingrise Finance Limited. I started the loan application process before the covid19 lockdown so my application was suspended by the management of Kingrise Finance Limited.
On June 5,2020 the Kingrise management contacted me and informed me that they have resumed operations and that we can continue the loan process. I supplied all the documents and paperwork in and my loan was approved on June 12 and I received the loan funding in my BCA account on June 26,2020. BCA is Bank Central Asia where I have been a customer for 15 years.
My short term business plan and objective is to acquire the necessary working capital to cope with the current climate and immediately implement the planned renovation for rebranding the hotel. The total required loan for the working capital and renovation of my hotel is USD 2.000.000,00. I am grateful to the management and staff of Kingrise Finance Limited for their assistance and will recommend them to anyone seeking funding for any purpose.
Some background information about the city of Makassar is it is a fast growing city with a population of about 1,6 millions. It is the fourth largest city in Indonesia after Jakarta, Surabaya and Medan. The last 5 years, the economy grew at 7,2% which is higher than the national average of 5%. Makassar is the gateway to eastern part of Indonesia. All flight to the eastern Indonesia must stop in Makassar. It has since become an airline and manufacturing hub for eastern Indonesia. The airport is International, operating 24 hours a day and has direct flights to Singapore, Kuala Lumpur, Malaysia and Australia.
Regarding the lending company, Kingrise Finance Limited, their website is: www.kingrisefinance.com
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