Commodities Intelligence Centre (CIC) introduces international Trade Data and Business Services, partners SBF to drive digital transformation of Singapore SMEs
- Written by ACN Newswire - Press Releases
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Catered to a broad range of industry verticals from manufacturing, import-export, wholesale, financial services to logistics, CIC Data Pro leverages big data analytics to harness insights from its comprehensive collection of 1.5 billion records of customs and trade data. The data will enable businesses to uncover new market opportunities and identify reliable partners and suppliers from more than 90 countries across Asia, Europe and the Americas. It also provides customised market insights into the trading activities of global companies, such as information on counterparties, production specifications and past shipment details.
CIC is a Joint Venture between Singapore digital bank hopeful ZALL Smart Commerce Group, Global eTrade Services (GeTS) and Singapore Exchange (SGX). It looks to build trade connectivity through digital marketplaces and to grow a vibrant trading ecosystem in Singapore and beyond. Since its launch in October 2018, CIC has achieved a gross merchandise volume of more than US$12.7 billion (S$17.7 billion), with over 5,000 registered users covering markets including Singapore, Malaysia, Indonesia, India, China, among other countries in Asia.
Mr Peter Yu, Chief Executive Officer of Commodities Intelligence Centre, said, "The global spread of COVID-19 has impacted all industries in unprecedented ways, and businesses around the world are facing greater risks and challenges with the disruption of production and supply chains coupled with increased uncertainties of customer demand. CIC Data Pro and Lead Generation Service will enable companies to diversify their revenue sources and extend the global reach of their supply chains, building business resilience against the pandemic."
CIC Data Pro is currently available on CIC platform, and is part of the suite of solutions offered by CIC to help companies reduce transaction costs, optimise the efficiency of their supply chains across cross-border trading, financing, logistics, compliance and risk management, achieving greater trading synergies globally. More than 40 companies, including global leading supply chain financial company, Linklogis and renowned enterprises have subscribed to take advantage of CIC Data Pro's data services.
In an effort to double the support for Singapore's business community amid the COVID-19 pandemic, CIC will also on-board GeTS CALISTA Finance with a US$20 million (S$27.8 million) fund for B2B trade financing. This fund will enable businesses and SMEs to be able to use CALISTA Finance to address short-term liquidity challenges, and to fulfil trade financing needs seamlessly, securely, and smartly.
CIC is Singapore's first physical commodity B2B e-trading platform powered by blockchain technology that facilitates commodity traders from around the world to transact in a secure and trusted manner, enabling real-time end-to-end visibility of supply chains and the traceability of cargo and cashflow across borders.
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$12.7 billion (S$17.7 billion), with over 5,000 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 enquiries, please contact:PRecious Communications for ZALL GroupEmail: ZALL@preciouscomms.com
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Authors: ACN Newswire - Press Releases
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