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3 May 2021 | By Financial Afrik
During the visit of the French Minister of Economy and Finance, M. Bruno Le Maire, Proparco and NSIA group signed a new partnership to back Ivorian enterprises. Choose Africa Resilience, a grant accorded by Proparco will cover 500 000 000 XOF (3.75M€) in loans by NSIA Bank to entrepreneurs.
Apr 2021 | By Eric Parry Architects
World class laboratories and office spaces within a landscaped garden setting. This is the future of Wilmar with its new R&D headquarters at Biopolis Road in Singapore. A combination of signature architecture, modernity and sustainability, the laboratory responds to climate and orientation to maximise the passive effect on reducing heat load and energy usage.
March 15, 2021 | By Anita Gabriel, The Business Times
Olam International will be breaking up into two (relatively) bite-sized entities. The rejig of Olam's humongous portfolio and "full-fledged" spin-off for the food ingredient and agri-business assets mark the firm's most impactful endeavour to woo the market to raise growth capital.
Olam's group chief executive Sunny Verghese's enthusiasm is hard to miss even with his all-too-familiar measured and reflective despatch. "It's an exciting opportunity to create world-class businesses that will be true market leaders," he told The Business Times in an interview.
March 11, 2021 | By Angela Tan, the Business Times
The global trade imbalance due to Covid-19 has resulted in a mismatch between where sea containers are and where they need to be, causing supply-chain bottlenecks.
PIL executive chairman and managing director S S Teo, who is also Co-Chairman of ASEACC said as container liners struggle to meet demand for containers on the US and European routes, there is a knock-on effect on other trade lanes when containers are diverted. Most in the industry are expecting the container shortages in Japan, South Korea, India and South-East Asia to last until mid-2021.
May 13, 2020 | By Vivienne Tay, the Business Times
Wilmar shares were trading S$0.15 or 3.9 per cent higher at S$3.97 as at the mid-day break on Wednesday.
As China - which Wilmar derives nearly 60 per cent of its revenue from - starts to open up following the Covid-19 lockdowns, volume momentum should pick up, said analyst Thilan Wickramasinghe in a research note dated Tuesday.
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PIL donates 1000 surgical masks to Kenya Ports Authority
Apr 16, 2020
In the depths of the ongoing global pandemic, Pacific International Lines (PTE) Ltd has donated 1000 surgical masks to Kenya Ports Authority (KPA) to keep staff safe as they battle against the spread of COVID-19 at the Port of Mombasa.
Lessons from Ebola help Olam respond to coronavirus
Apr 7, 2020 | By David Whitehouse, theafricareport
The outbreak of Ebola in west Africa in 2014-16 has left food and agri-business company Olam ready to respond quickly to the coronavirus pandemic, Ventkatamani Srivathsan, CEO for Africa and the Middle East, told The Africa Report.
Wilmar sets up 4 new subsidiaries and acquires 1 firm
Mar 25, 2020 | By Claudia Tan, The Business Times
AGRIBUSINESS company Wilmar International on Wednesday announced the establishment of four new subsidiaries in the Solomon Islands, China, Myanmar and Sri Lanka, as well as an acquisition of one of its subsidiaries in China.
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PIL subsidiary Singamas works with local Chinese medical equipment company to build a mobile Covid-19 testing laboratory
Mar 5, 2020 | From Singamas 2019 Annual Results Announcement
To fight against coronavirus outbreak, Singamas cooperated with a Chinese medical equipment company to build the first movable nucleic acid detection laboratory container in China which has been delivered to Wuhan. Singamas is now developing the first movable CT Scan container. Its success will enable Singamas to provide containerised medical facilities, especially to the mobile cabin hospital.
AP Moller Capital to invest in West African port infrastructure
Jan 29, 2020 | By Ship Technology
AP Moller Capital will provide significant investment in a West African ports and logistics platform via the Africa Infrastructure Fund. The platform will be managed by ARISE Ports & Logistics. AP Moller will hold a 43% stake in the platform, while Olam and AFC will hold 31% and 26% stakes respectively.
Keppel Corp names 3 new independent directors to board
Oct 18, 2019 | By Marissa Lee, The Business Times
With effect from Jan 2, 2020, the Keppel board will comprise a total of 11 directors, of whom 10 are independent directors.
Teo Siong Seng, 64, the executive chairman and managing director of Pacific International Lines (PIL), will join the board from Nov 1.
PIL is one of the largest shipowners and operators in South-east Asia with a focus on Asia-Africa and the Middle East, Keppel said.
At 100 years old, the world's oldest billionaire still goes to the office every day
Dec 4, 2018 | By Karen Gilchrist, CNBC Make It
At 100 years old, the world’s oldest billionaire would be forgiven for taking it easy and enjoying the riches of his eight-decade career.
But for Chang Yun Chung, founder of Pacific International Lines (PIL), staying at home isn’t an option. Despite handing over the role of executive chairman to his son, Teo Siong Seng, earlier this year, the centenarian Singaporean insists on going into the office every day.
New investment and advisory firm to focus on intra-Africa trade
Nov 18, 2018 | By Sanne Wass, Global Trade Review
Two business leaders have launched a new investment and advisory firm focusing on equity investments and trade and corporate finance in Africa.
Africa-Asia economic relations: Let the private sector shine
Sep 25, 2018 | By Kelvin Tan, theafricareport
For almost two decades, Asian governments have been very vocal in their desire to get involved in the African continent. Bilateral forums, conferences, meetings and seminars happen more often than one can count, and usually result in numerous announcements – ranging from memoranda of understanding (MoU) to billions of financial commitments.
Africa Rising will lift Singapore boats too
Sep 12, 2018 | By Venkataramani Srivasthsan, The Business Times
If there is one thing that the recent Africa Singapore Business Forum (ASBF) reminded me of, it is what a polarising prospect the continent remains.
The global business community – Singapore included – has long seemed divided into two main camps: companies that have committed to Africa, and those still labelling it “too hard”, ie, too complex to prioritise. But at the ASBF, I detected a different sentiment – a re-imagining of the prospects for some, and one that underscores Singapore’s position as an international business leader.
Graduating from political to economic independence
Aug 20, 2018 | By African Business Magazine
Paulo Gomes, Member of the AfroChampions initiative, talks about the practicalities of creating a fertile environment for African multinationals to arise.
Wilmar's Q2 net profit surges 437%
Aug 14, 2018 | By The Straits Times
Agribusiness group Wilmar International has posted a more than four-time increase in its net profit for the second quarter ended June 30.
Net profit soared to US$316.4 million (S$435 million) from US$59 million, lifted by stronger performances from the oilseeds and grains as well as the tropical oils segments, coupled with better contributions from associates.
What African SWFs can learn from Asian counterparts
Aug 6, 2018 | By African Business Magazines
Asian sovereign wealth funds (SWFs) have played an important role as engines of development and economic growth in the past 50 years. In 1965, Singapore’s GDP per capita was just $500, on par with that of Mexico and South Africa. In 2017, this figure had increased more than 100-fold, reaching $56,000.
Afreximbank and Aenergy Join Efforts to Leverage Climate Finance for Africa’s Development
Jul 16, 2018 | By Afreximbank
The African Export-Import Bank (Afreximbank) entered into a cooperation with Aenergy to develop a low carbon sustainable economy and a climate finance strategy to support projects and national initiatives in the sector across Africa.
CrimsonLogic opens office in Rwanda
Jun 15, 2018 | By The Straits Times
The African Export-Import Bank (Afreximbank) entered into a cooperation with Aenergy to develop a low carbon sustainable economy and a climate finance strategy to support projects and national initiatives in the sector across Africa.
Afreximbank president unveils new initiatives and thoughts on Africa’s trade finance gap
May 16, 2018 | By Shannon Manders, Global Trade Review
Off the back of the signing of the African Continental Free Trade Area (AfCFTA), Global Trade Review (GTR) caught up with African Export-Import Bank (Afreximbank) president Benedict Oramah to discuss initiatives that the bank will soon be launching, and to hear his views on how best to address Africa’s trade finance gap.
Expanding the Shipping Trade in Africa
May 14, 2018 | By CNN
Managing Director of PIL Shipping, S.S. Teo explains how the company has expanded in Africa.
Olam Eyes Fish Farming in Africa to Tap Growing Middle Class
Mar 27, 2018 | By Olivier Monnier, Bloomberg
Olam International Ltd., one of the world’s largest food traders, is considering expanding into fish farming in Africa to tap demand from a growing and more affluent population.
The Singapore-based firm is conducting a feasibility study on farming fish in West Africa, likely in Nigeria, the continent’s most populated country, Chief Operating Officer Shekhar Anantharaman said. Olam could potentially start the venture with partner and shareholder Mitsubishi Corp., which owns fish businesses, he said.
PIL Moves to "B-Division" Status
Mar 16, 2017 | By The Straits Times
As Pacific International Lines (PIL) celebrates its 50th anniversary, it is progressing to a “B-division” status in the international shipping sector, looking to extend capacity to 500,000 containers by the end of next year.
Africa attracts Singapore interest
Aug 24, 2016 | By Shannon Manders, Global Trade Review
IE Singapore, the government agency tasked with driving Singapore’s external economy, is looking to establish its third overseas office in Africa – this time in Kenya.
Singaporean companies eyeing niche opportunities in Africa
Jun 16, 2016 | By Jaco Maritz
Singapore’s government is actively encouraging its businesses to explore commercial opportunities in Africa, a region currently accounting for only about 1% of its total global trade.
Why Guinea Bissauan economist Paulo Gomes is producing a documentary on Amílcar Cabral
May 13, 2016 | By Claude Grunitzky, TrueAfrica
He uses the word “exorcism” to explain the process and series of events that led him to produce a documentary on Amílcar Cabral, the Guinea-Bissauan and Cape-Verdean engineer and freedom fighter.
For S-East Asia, Africa spells opportunity
Nov 3, 2015 | By The Business Times
Singapore is considered the “best brand” in the continent, and some big opportunities for it lie in urban development and planning, says ASEACC's co-founder.
Radio France Internationale Africans are Moving!
Sep 14, 2015
ASEACC Secretary General (Africa), Didier Acouetey’s interview with the Radio France Internationale.
ASEACC: Building Business Champions
Sep 20, 2014 | By Anver Versi, African Business Magazine
One organisation that has been set up to take the full advantage of the position of Singapore in the heart of Africa is the Africa-South East Asia Chamber of Commerce (ASEACC).
Channel News Asia: ASEACC Official Launch
Nov 18, 2013
The Africa South East Asia Chamber of Commerce (ASEACC) was officially launched in Singapore on 18 November, 2013 by a group of 13 companies from both the African and South East Asian Regions. More than forty top companies and representatives from business chambers and the government attended the launch ceremony, graced by Senior Minister of State for Trade & Industry and National Development, Lee Yi Shyan. The event received media coverage in the national newspapers, as well as during prime time television.