10. Meanwhile, PAR (Portfolio At Risk) > 30 days increased to 1.2% from 0.72% a month earlier, an undesirable move but this level still represented a very healthy level. We shall closely monitor how it moves.
11. We provided a 2-day credit training for approximately 18 staff on micro business lending (MBL). This group of people included 10 people who were selected out of the last month training group of 20 plus Loan Underwriting Team and other related staff. We trust that these training will provide competence in serving our clients who desire to graduate to individual loans from group loans.
12. A group of four graduate students from Johns Hopkins University will be working with UOB on a project related to agent banking. We had the first telephone conference in October and they will work off site until January when they will be on site for three weeks to produce a white paper proposing an effective implementation plan on agent banking. We look forward to working with them. Also we are in contact with St. Mary University in California and George Washington University MBA students on different projects.
12. The Kininya sewing project that Kristin is handling continues to progress well. Out of 20 women who have been trained for the past six months, 10 are able to produce simple products in commercial quality. They keep practicing their skills through pilot testing work. From January 2012, they will be able to generate income out of sewing. Later next year, they plan to form a cooperative to be more formal and to be able to bid for bigger contracts. We are excited!