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Dah Sing Bank and Friends of the Earth (HK) Jointly Present Property and Construction Industry ESG Forum for SMEs

HONG KONG, Jun 27, 2022 - (ACN Newswire via SEAPRWire.com) - The first industry forum ("the Forum") under the "SME ESG Best Practices Recognition Programme" ("the Programme") took place today under the joint auspices of Dah Sing Bank, Limited ("Dah Sing Bank") and Friends of the Earth (HK) ("FoE HK"). Held in the theme of "ESG Practices in Property Development Supply Chain - Opportunities and Challenges for SMEs", the Forum featured listed company senior executives and leaders in the property and construction sector to share their insights on the impact environmental, social and governance (ESG) trends have on the outlook and operating models related to their industries.Dah Sing Bank and Friends of the Earth (HK) Jointly Present: The SME ESG Best Practices Recognition Programme"ESG Practices in Property Development Supply Chain - Opportunities and Challenges to SMEs" Guest ListMs. Mei Ng, BBS, Chairperson, Friends of the Earth (HK) delivering speechMs. Phoebe Wong, Deputy Chief Executive, Senior Executive Director, Group Head of Personal Banking, Dah Sing Bank delivering speechMs. Phoebe Wong, Deputy Chief Executive, Senior Executive Director, Group Head of Personal Banking, Dah Sing Bank (Right) Ms. Mei Ng, BBS, Chairperson, Friends of the Earth (HK) (Left)The Forum - Topic 1The Forum - Topic 2Addressing the Forum, Mrs Mei Ng, BBS, Chairperson of FoE HK, said, "SMEs are closely intertwined in every aspect of our daily lives. Notwithstanding their contribution to our society, economy and livelihoods, they also impact on our ecological environment, social development and daily production in a big way. FoE HK believes there is a critical and urgent need to help local SMEs transform, upgrade, strengthen and enhance their competitiveness as well as their ESG accountability. ESG can help SMEs come to grips with matters concerning their survival, risks, transformation, potential and opportunities, helping them to achieve profitability without polluting the world, run their business worry-free while winning word of mouth, customers and investors, and a bright future."ESG implementation may become one of the ways for SMEs to overcome adversity in a down market. The convergence of external economic pressures and the pandemic is presenting unprecedented challenges for SMEs. With the rise of a green economy, corporations are becoming more demanding in their partnership and supply chain governance standards and requirements. For listed companies, ESG implementation is not just to meet regulatory requirements, but also to help enhance the sustainability of their supply chains. As such, SMEs stand to gain from reviewing their existing operating models for alignment with global sustainable development strategies. The integration of an ESG mindset into their business operations and decisions will enable their products, services and brand image to stand out, thereby helping them enhance their competitiveness and resilience.Through the sharing of insights from industry leaders, the two-part Forum seeks to help SMEs understand the latest ESG trends and the opportunities that may arise through ESG implementation, thereby encourage them to develop sustainable business strategies. Moderated by Ms. Athena Ng, General Manager, Corporate Finance and Corporate Communications of China Overseas Land and Investment & Board Governor and Honorary Treasurer of Friends of the Earth (HK), the first part of the Forum focused on the relevance of ESG to the real estate development supply chain and how to seek win-win with SMEs through collaboration in ESG implementation. The second part of the Forum explored the directions and approaches of ESG implementation; moderated by Ms. Ophelia Lin, Founding President of SME Sustainability Society & Board Governor of Friends of the Earth (HK), the guest speakers suggested ways for SMEs to embark on their ESG journey to enhance the competitiveness of their businesses.The team of professionals behind the Programme can be described as "ESG doctors" for enterprise development. Consultancies offering such services are a commonplace practice in the market and typically command fees of more than HKD100,000. SMEs taking part in the Programme will have free access to similar support, so that they may be able to identify areas for improvement in their businesses as early as possible and to plan ahead.Ms. Phoebe Wong, Deputy Chief Executive, Senior Executive Director, Group Head of Personal Banking of Dah Sing Bank, said, "SMEs typically lack ESG-related knowledge and resources. Dah Sing Bank is sponsoring FoE HK to launch this Programme so that more SMEs will become aware of the most pressing ESG issues that concern them, and enable them to identify improvement areas through the Programme's free assessment and ESG guidelines. Last year, the Hong Kong Government announced its target to achieve carbon neutrality by 2050. As buildings are the main source of carbon emissions in the city, it is pertinent to feature the property and construction sector in the first forum under the Programme. This will create awareness of the urgency for the sector's SMEs to transition to a low-carbon operating model, and will bring new ideas and opportunities to inspire them to embark on adopting sustainable business practices."The Programme is the first of its kind that takes on an industry-specific approach to lobby and recognise ESG best practices adoption by SMEs and to promote sustainable development in industries. Using the United Nations Sustainable Development Goals as framework, it evaluates the sustainable development strategies and policies of SMEs and their ability to manage and drive sustainable development performance. SMEs that attain a certain level of improvement within a specific period will be commended for their commitment and contribution. The free-to-join Programme is sponsored by Dah Sing Bank. Additionally, Dah Sing Bank is offering further incentives to all the SMEs participating in the Programme and / or receiving recognition in the form of fee discounts and cash rebates, while recognised participants will also receive an exclusive HKD1,000 cash reward. SMEs in the property and construction industries can enroll in the Programme starting today (27 June) until 31 August 2022. Please refer to the attached fact sheet for details.This year marks the 75th anniversary of Dah Sing Bank. A series of celebratory activities will be launched from June onwards to reach out to the community, SMEs and customers as well as to promote green lifestyles. Through these activities, the Bank hopes to thank and share its joy with the public and its customers, express its advocacy for sustainable lifestyles, and bring vitality to Hong Kong's communities and economy. For details, please visit the Bank's 75th anniversary webpage on http://www.dahsing.com/75Anniv/en.About Dah Sing BankDah Sing Bank, Limited ("Dah Sing Bank") is a wholly-owned subsidiary of Dah Sing Banking Group Limited (HKG:2356) which is listed on the Hong Kong Stock Exchange. Founded in Hong Kong 75 years ago, Dah Sing Bank has been providing quality banking products and services to our customers with a vision to be "The Local Bank with a Personal Touch". Over the years, Dah Sing Bank has been rigorous in delivering on our brand promise to grow with our customers in Hong Kong, the Greater Bay Area and beyond - "Together We Progress and Prosper". Building on our experience and solid foundation in the industry, Dah Sing Bank's scope of professional services now spans retail banking, private banking, business and commercial banking. Meanwhile, Dah Sing Bank is also making significant investments in our digital banking capabilities to stay abreast with smart banking developments in Hong Kong and to support financial inclusion at large.In addition to its Hong Kong banking operations, Dah Sing Bank also has wholly-owned subsidiaries including Dah Sing Bank (China) Limited, Banco Comercial de Macau, S.A., and OK Finance Limited. It is also a strategic shareholder of Bank of Chongqing with a shareholding of about 13%. Dah Sing Bank and its subsidiaries now have around 70 operating locations in Hong Kong, Macau and Mainland China.About Friends of the Earth (HK)Friends of the Earth (HK), as a leading environmental advocate, focuses on protecting our local and regional environment, offers equitable solutions to help create environmentally sustainable public policies, business practices and community lifestyles and engages government, business and community to act responsibly. Friends of the Earth (HK) is dedicated to promote green finance and cultivate ESG talents to transition HK and Asia Pacific region into a carbon neutral economy. Friends of the Earth (HK) closely partners with SME associations in Hong Kong (with coverage >3,000 companies), as well as international associations (e.g., World Benchmarking Alliance), with strong access to ESG & green finance talents professionals in Hong Kong, through our CESGA alumni network. Friends of the Earth (HK) launched the first Green Finance Roadmap of its kind in the APAC region in 2019. One of our key focus would be on building capacity for industry practitioners and general public towards green finance, and hence our events are centered around "Green Finance Connect Education Series". Examples include Sustainability Leadership Seminars, our Green Finance Symposium on ESG integration. We aim to work with all sectors of the community to build a sustainable society and environment.Media EnquiriesDah Sing Bank, LimitedGigi Lee +852 2507 8629 gigiwclee@dahsing.com Friends of the Earth (HK)Tiffany Yip +852 3184 1510 tiffanyyip@foe.org.hk Strategic Financial Relations LimitedMargaret Lam +852 2114 4956 margaret.lam@sprg.com.hkPinky Hui +852 2114 2897 pinky.hui@sprg.com.hkCynthia Ng +852 2114 4952 cynthia.ng@sprg.com.hk Programme websitehttps://bit.ly/3HJDgPj Dah Sing Bank offers exclusive Programme Incentiveshttps://bit.ly/3OncS0l Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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Singapore P2P Lender BRDGE: Flexible financing key to SME survival during pandemic-driven business uncertainty; launches F&B loans package and SME digitalisation platform

SINGAPORE, Nov 26, 2021 - (ACN Newswire via SEAPRWire.com) - BRDGE Technology (BRDGE), an MAS licensed Peer-to-Peer lending platform launched in 2014, today announced the launch of a food and beverage (F&B) financing package specially catered to support Singapore's Food and Beverage (F&B) Small Medium Enterprises (SMEs) in the current pandemic-driven uncertainty around dining-in. The loans package, with affordable interest rates from less than 1% per month and a short tenure of three-to-six-months, is specially designed to help establishments survive and potentially thrive during this period when cashflow is of importance for salaries and rentals.One unique aspect of the F&B BRDGE loan is the credit assessment process, which takes the challenging business landscape into account with a lowered and targeted criteria on credit assessment: BRDGE will assess only the latest three-to-six months of the SME's recent cashflow, bank statements and bank balance, matched against the changing dining-in rules, to identify F&B businesses which are able to survive and thrive.BRDGE offers funding support for SMEs that are non-bankable or unable to secure a loan from traditional financial institutions. Most of the time it is due to a less than two-year track record or small annual revenues, or have maxed their credit facilities or who require a Bridging Loan. BRDGE then carries out an assessment and matches SMEs with potential investors.Mr Kevin Wong, CEO, BRDGE Technology, said, "The government has been extremely supportive with the various grants and packages for businesses and their employees in Singapore since the start of the pandemic, and the community has also continued their support to Singapore SMEs. However, with the recently announced extension of the stabilisation phase, Singapore businesses, specifically F&B establishments which depend very much on dining-in for their revenues, continue to be pressured by thinner margins, tight cashflow, and the rising cost of rent and labour. With group sizes for dining-in having been adjusted more than 10 times since April 2020, F&B businesses are faced with continued uncertainty and many are on the brink of survival. This loan package is designed to help them survive and potentially thrive in the short term, with a more relevant assessment process grounded in the very different business reality today."Cashflow a priority for SMEs during COVID-19Since the start of the pandemic in April 2020 till today, BRDGE has funded more than 46 SMEs with more than S$ 11m in loans. As compared to a similar period pre-pandemic (April 2019 to April 2020), there has been a distinct reduction of 58% to the average loan size per borrower from S$352,000 vs S$836,000, alluding to a shift in borrowing for growth pre-pandemic, to survival during the pandemic with cash used to maintain operational costs.More SMEs has also requested for funding since April 2020, at 46 against 17 pre-pandemic, with companies from industries such as Arts, Entertainment and Recreation, Health and Medical, Marine and Shipping, and Beauty and Wellness, requesting for loans.Kevin added, "As the pandemic continues, more and more businesses are facing problems maintaining cashflow. We're also seeing a fundamental shift in the reasons for getting loans. Where previously companies were discussing funding to help them grow or expand, today we are speaking to business owners who are concerned about surviving to the next month. The government and consumers are surely doing their part to help businesses survive, but every little bit helps and this relook at how we assess loans is one part of our commitment to the Singapore business community."As part of its efforts to tide SMEs through this challenging period, BRDGE also recently started developing B Mart, a new e-commerce mobile app that is designed to help SMEs in Singapore digitalise and find new customers online. On the platform now are more than 7 businesses with over 500 SKUs representing B2B industries such as Creative and Marketing and B2C businesses such as Food & Beverages, Beauty & Health, Fashion, etc. BRDGE plans to increase this to 2,000 SKUs by the end of the year, with all 237 BRDGE's SME borrowers since 2014 being able to tap on this platform. All applicants of today's F&B BRDGE loans can have access to the platform and will be able to tap on the BRDGE online delivery app at a fixed and competitive 5% commission rate to help lower operational costs.F&B businesses can apply for the BRDGE F&B loan via the BRDGE website: https://register.brdge.tech/fandb-smes, while investors who are seeking to support local businesses can find out more here https://register.brdge.tech/fandb-investor or register themselves on the BRDGE website.SME owners who are interested in listing their products on the B Mart app to grow their customer base and business can get in touch with BRDGE directly at admin@bmart.sg.About BRDGE TechnologyBRDGE Technology is an MAS licensed P2P lending platform with a Capital Market Service license (CMS 100642). Founded in 2014, it is among the pioneer batch of homegrown P2P lending platforms and is the highest-rated crowdfunding platform on Seedly. Till date, BRDGE has crowdfunded a total of S$72,022,115 and has a community size of over 17,000 investors and SMEs. https://www.brdge.tech/FOR MEDIA ENQUIRIESPRecious Communications for BRDGEMartin Lim, BRDGE@preciouscomms.comFACTSHEETAddress: 57 Mohamed Sultan Rd #03-05 Sultan-Link, Singapore 238997Tel: 6916 1799Email: hellosg@brdge.techWebsite: https://www.brdge.tech/iOS App: https://apps.apple.com/us/app/id1061018232Android App: https://play.google.com/store/apps/details?id=com.app.brdgeSeedly Reviews: https://seedly.sg/reviews/p2p-lending/brdge-p2p-lendingFacebook: https://www.facebook.com/BRDGEsgInstagram: https://www.instagram.com/brdgesgLinkedIn: https://www.linkedin.com/company/brdgesg/YouTube: https://www.youtube.com/channel/UCxsxymQ5CU8K0NL0thZXzrA Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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Some Singapore SMEs to benefit from new savings and perks plan by NTUC unit

SINGAPORE - Some small and medium-sized enterprises (SMEs) will be able to access a new initiative that provides up to $2,300 in savings and benefits per worker. Eligible SME partners of NTUC U SME can now tap the NTUC In Your Workplace initiative for such benefits.  It is the first programme of its kind by the labour movement’s SME arm to help local businesses and their workers tap products and services of NTUC’s social enterprises and partners.  Eligible SMEs will enjoy benefits such as a sponsored refrigerator with pantry snacks from FairPrice; a free account on NTUC Learning Hub’s LHub GO platform, which has more than 75,000 online courses; and a free two-day trial at NTUC Health Senior Care Centres for staff who require assistance for respite care.  “This is on top of the benefits that workers will enjoy when they sign up for the NTUC membership,” said U SME on Monday (Aug 23). To participate in the programme, an SME must have signed a memorandum of understanding with U SME. It must also ensure that at least 80 per cent of its workforce are NTUC members and it meets at least half of the criteria set out under the unit’s 3B framework.  The framework - which stands for Better Workplace, Better Worker and Better Job - covers criteria such as having rest areas for workers, employee recognition programmes and digital transformation efforts.  U SME said that 10 per cent of its 400 partner SMEs are currently eligible for the initiative and that it will work with more businesses to help them achieve the 3B criteria.  The unit added that it worked with SMEs to identify their welfare and training needs to curate these benefits. It cited a recent NTUC LearningHub survey which found that SMEs are less likely to send their staff for training, compared with larger companies, due to constraints such as a lack of resources.  “With work from home as the default, online courses would be an efficient method to upskill workers. For workers who must return to workplaces, the pantry snacks serve as an incentive to workers, while the complimentary care centre trial will provide respite (care) support and relief for workers (swamped) with family responsibilities,” added U SME.  The initiative was launched on Monday by NTUC secretary-general Ng Chee Meng during a visit to Lim Kee Food Manufacturing - the programme’s first recipient. The company’s 60 workers will enjoy up to $140,000 in savings and benefits per year, including savings under their NTUC memberships and from the company’s regular staff benefits. Mr Ang Khim Wee, Lim Kee’s head of business development, said NTUC’s support will help the company to concentrate on its business goals and emerge stronger from the Covid-19 pandemic. “When our workers are adequately covered in welfare and training, they are able to contribute to work productively,” he said. More on this topic   Related Story Govt working to push out support to firms as fast as it can: Lawrence Wong   Related Story Effective tax rates for SMEs much lower than non-SMEs in S'pore: Lawrence Wong

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Commodities Intelligence Centre (CIC) Sees 26% Jump in Registered Customers in 2020

SINGAPORE, Apr 16, 2021 - (ACN Newswire via SEAPRWire.com) - Singapore-based Commodities Intelligence Centre (CIC) - a Joint Venture between the ZALL Smart Commerce Group (ZALL), Singapore Exchange (SGX) and Global eTrade Services (GeTS) - has announced strong growth in FY2020, driven by the urgency for supply chains to digitalise during the pandemic. In 2020, the number of customers on the platform grew by 26 per cent as compared to 2019 to reach 5800 registered users. Among the commodities traded on the platform include ferrous and non-ferrous metals, agricultural products, plastics and chemicals, and oil products. The total cumulative gross merchandise volume (GMV) on the CIC platform grew by over US$3.1 billion (S$4.1 billion) to reach US$13.4 billion (S$17.6 billion), an increase of more than 30 per cent from 2019.Peter Yu, Chief Executive Officer of CIC shared, "By making our platform and technologies affordable and easy to use, SMEs are able to easily onboard the platform and make use of these digital tools to grow their businesses. With global disruptions such as COVID-19 and the recent Suez Canal incident, we want to help SMEs build more sustainable and resilient businesses that can endure these challenging times as they grow and expand in Asia and to achieve greater trading synergies globally."According to the UOB SME Outlook Survey 2021, 34 percent of SMEs find digital adoption costly to implement, and yet companies who have digitally transformed one or more departments, or their entire business, have seen a significantly higher revenue growth. One of the Singapore SMEs who have benefited from CIC's platform is Go Holdings, a cullet supplier in Southeast Asia. Tapping on CIC's business intelligence service DataPro, it has been able to access a wide database of over 2 billion records of customs and trade data from more than 110 countries across Asia, Europe and the Americas. This has allowed them to uncover new markets and diversify their trading operations, and connect with reliable partners and suppliers that align with their business goals. Alongside this, CIC also recently introduced a convenient Know-Your-Customer (KYC) service that helps SMEs with their due diligence to better manage their business risks.Huang Zhi Rong, Business Development Executive of Go Holdings, shared, "As a general trading company from a traditionally offline industry, the thought of digitalization can be daunting and challenging as this is often costly and resource intensive, and it takes up time and effort. However, digital platforms such as CIC, has allowed us to gain a competitive edge in the market, especially during the Covid-19 pandemic, by providing us with valuable market insights to guide our decision making and has enabled us to tap on the right information sources to strategize our business plans that has brought about profound changes to our import and export trade businesses." Go Holdings is currently a subscriber of CIC's DataPro services.Over the past year, CIC has embarked on numerous initiatives to support SMEs in their digital transformation journey. In May 2020, CIC worked with Singapore Business Federation (SBF) to support SMEs under the "Rising in Support of Enterprises (RISE)" programme during the height of the pandemic. In December 2020, it has also jointly launched a "Digital Silk Road" initiative led by ZALL, and joined Singapore's Blockchain for Trade & Connectivity (BTC) Network, which aims to help SMEs embrace the power of digitalisation to uncover new trading opportunities and to promote greater efficiency and transparency across global supply chains.With sustainability becoming increasingly important for companies, CIC is also focusing more efforts to support commodity trading that contributes towards climate change and environmental sustainability, such as clean and renewable energy, as it aims to groom more than ten Global Commodity Champions over the next three to five years on the back of the world's largest trade pact, the Regional Comprehensive Economic Partnership (RCEP) and China's dual circulation strategy."At Go Holdings, we have also focused on environmental sustainability. Although it has not been an easy journey for us, we have taken steps to become a sustainable company, from our selection of partners and vendors that share our common values, to our internal processes that promotes the use of sustainable materials and a culture of Reuse, Reduce and Recycle among our employees", added Huang Zhirong of Go Holdings.About Commodities Intelligence Centre (CIC)The Commodities Intelligence Centre (CIC) is a global trading platform for physical commodities including Ferrous & Non-Ferrous Metals, Chemicals & Plastics, Oil & Petroleum, and Agri Commodities. Officially launched in Singapore on 12 Oct 2018, CIC is a Joint Venture between China-based ZALL Smart Commerce Group, Global eTrade Services (GeTS) and Singapore Exchange (SGX) to build trade connectivity through digital marketplaces and to grow a vibrant trading ecosystem in Singapore.CIC aims to revolutionize commodity trading and facilitate cross-border trade through deal matching, trade finance, supply chain logistics, track and trace and global trade compliance. Since its establishment in October 2018, CIC has achieved a GMV (Gross Merchandise Volume) of more than US$13.4 billion (S$17.6 billion), with over 5,800 registered users covering markets including Singapore, Malaysia, Indonesia, India, China, among other countries in Asia. For more information, please visit www.cic-tp.com.For media queriesEmail: CIC@preciouscomms.com Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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Hong Kong Trade Development Council welcomes economic support measures in 2020 Policy Address

HONG KONG, Nov 25, 2020 - (ACN Newswire) - Chairman of the Hong Kong Trade Development Council (HKTDC) Dr Peter KN Lam welcomed the economic support measures to help Hong Kong's small-and-medium sized enterprises (SME), unveiled in the Chief Executive's Policy Address today.Dr Lam said, "Hong Kong SMEs are facing many challenges in the face of COVID-19, which has cast a shadow on global economic growth and has led to a 'new normal' in international trade and commerce. We welcome the economic support measures in the Policy Address that can help Hong Kong businesses overcome these challenges. For Hong Kong SMEs facing cash flow issues, cancelling the double stamp duty for non-residential property will provide them with more flexibility in their finances. At the same time, broadening the coverage of the Export and Marketing Fund will help SMEs find new market opportunities online and offline."Working closely with the HKSAR Government, we will assist Hong Kong SMEs to enter the Mainland Chinese market through the Guangdong-Hong Kong-Macao Greater Bay Area, while helping them to transform through digitisation and to find new global opportunities through different O2O [online-to-offline] promotional platforms. For the convention and exhibition industry which is hard-hit by the pandemic, the Government's decision to proceed with expansion plans for exhibition space in Wan Chai and at the airport will help sustain the industry's development, and in the long run reinforce Hong Kong's position as an international events capital."Dr Lam added, "I and the team at HKTDC will redouble our efforts to help Hong Kong companies get through these difficult times and capture new opportunities ahead."About HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn.Contact:Beatrice Lam, Tel: +852 2584 4049, Email: beatrice.hy.lam@hktdc.org Susanna Sin, Tel: +852 2584 4294, Email: susanna.kc.sin@hktdc.org Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com

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