COFIT WORKSHOP:
26 July 2012 - SUPPLY CHAIN FINANCING
27 July 2012 - RENMINBI TRADE SETTLEMENT
Vanda Ballroom, Marina Mandarin Hotel, SIngapore
As a follow up to the agenda items in the report of the Permanent Committee on Cooperation in Finance, Investment and Trade (COFIT) during the meeting held in Lao PDR on 18 November 2012, a two day workshop was held on 26 and 27 July 2012.
The two-day workshop, on Supply Chain Financing (SCF) and Renminbi Trade Settlement, hosted by The Association of Banks in Singapore which chairs the COFIT, saw more than eighty participants from the various Banks in Cambodia, Malaysia, Myanmar, Philippines,Thailand and Singapore.
Mrs Ong-Ang Ai Boon, Director of the Association of Banks in Singapore delivered the Opening Remarks at the workshop.
The line-up of speakers and their presentation topics during the two-day event were as follows:
26 July 2012 - Supply Chain Financing (SCF)
Mr Vijay Vashist, MD and Global Head, Trade & Supply Chain Finance, Trade Asset Management, Global Transaction Services, DBS Bank, Singapore on how supply chain is gaining focus as banks return their focus to transaction banking; the challenges of providing SCF; and how banks are overcoming them.
Ms Alexandra Holcomb, Group GM, Global Transactional Services and Asia, Westpac, Australia, Director of BAFT and Co-chair of BAFT Asia Council on the sophistication of banks' SCF offerings and the adoption of SCF among corporates; The role of technology in reducing corporate's cost in establishing a SCF structure; Challenges in offering cross-border SCF (eg. legal and compliance etc); strategies and workarounds.
Mr Kim Yung Jun, Supply Chain Director, South East Asia, Nike Global Trading Pte Ltd on the challenges that corporate clients face in effectively managing their supply chains; How have corporates used SCF solutions to add value to their supply chains.
Ms Clara Hang, Head, Global Trade Finance, OCBC Bank, Singapore on tools available to mitigate trade-related risk. Risk Management on Trade Transactions is increasingly becoming a corporate treasurer's focus alongside effective working capital management.
27 July 2012 - RenMinBi Trade Settlement
Ms Lum Yin Fong, Managing Director, Global Transaction Services, DBS Bank on RMB trade settlement scheme; value propositions for importers and exporters.
Mr Stephen Lee, SVP, Global Transaction Services, DBS Bank on Intra–Asean trade flow with China; opportunities and challenges for banks tapping into RMB financing
Mr Marvin Lo, Corporate Banking & Financial Institutes, Bank of China, Hong Kong on the perspective on the internationalisation of the Renminbi.
Participants found the workshop very helpful and relevant. The panel of speakers, with their wealth of knowledge in the respective topics, kept the participants engaged and captivated during the presentations. Participants were also rewarded with a tour to the newly-opened Gardens by the Bay at the end of the first day workshop.
ABA would like to thank and record our appreciation to ABS for organising and hosting the two-day workshop