Money News Asia: SESAMi Gives Singapore Businesses a Trade Finance Boost

AddThis Social Bookmark Button

SESAMi, South‐East Asia’s largest e‐procurement platform, touches the lives of over 15,000 small businesses and 5,000 large buyers around the globe each year. The firm processed SGD 1.8 billion worth of e‐invoices in the last 12 months, a figure that has grown steadily 14% year‐on‐year since its inception in September 1999.

 

In line with the firm’s policy to promote transparent business practices, the firm publishes key performance indicators daily on the company’s home page.

E‐commerce veteran Ong Teck Soon, SESAMi’s Chief Executive Officer and shareholder since 2002, views ApexPeak’s non‐controlling stake as essential to completing the company’s vision.

“We are grateful for the support we have received over the years from business and government. The strategic investment made by ApexPeak this week will strengthen our trade finance offer and facilitate greater supply chain finance execution for our client’s needs,” says Mr Ong.

SESAMi’s key clients include SingTel, Singapore Airlines, Changi Airport Group, Healthcare Community (i.e. National Healthcare Group, Jurong Health, Alexandra Health, National University Hospital), Singapore Power, OCBC Bank, Singapore Refining Companies, Singapore Airport Terminal Services, ST Engineering Group, SBSTransit and DSTA. SESAMi has enjoyed a long history of successful relationships with banks such as DBS (for trade finance) and OCBC and CitiBank (for other corporate programmes). 

“Our partnership with ApexPeak will complement our existing banking relations, and improve the speed for small businesses to receive early cash payments on e‐invoices,” says Mr Ong.

Christy Oi, Chief Financial Officer of Singapore‐based ApexPeak, was pleased to see the deal closed. “We welcome being part of one of Singapore’s most established and reputable e‐procurement platforms. We look forward to working with Teck Soon and improving the firm’s order‐to‐cash model.”

About SESAMi

SESAMi (Singapore) Pte Ltd is Asia's leading e‐procurement service provider, operating one of the largest B2B emarketplaces, and providing trusted solutions for transacting commerce on the Internet. As the foremost commerce service provider and operator of the leading electronic hub (E‐Hub) in Asia, SESAMi is positioned to bring businesses all the advantages and efficiencies of trading online. Visit www.sesami.com to find out more.

About ApexPeak

ApexPeak eases cash‐flow problems faced by SMEs and MNCs by buying e‐invoices before they fall due. Founded in 2012, the firm provides in excess of USD 1.3 billion trade finance to businesses located in 160 countries worldwide. ApexPeak has its headquarters in Singapore and is majority locally owned. Visit www.apexpeak.com to find out more.

Haute Tease

  • Phantom Review – A Cold War Cat and Mouse Thriller

    AddThis Social Bookmark Button

    “Phantom,” from Trilogy Entertainment and Anchor Bay Entertainment, brings the 1960’s Cold War back into mainstream with a high stakes, cat and mouse, mind manipulation, circumventing chase that is engrossing from the beginning.

     
  • Western Wildfires Turn Deadly

    AddThis Social Bookmark Button

    Three members of an elite fire squad were killed fighting a raging “hell storm” in Washington State when the vehicle in which they were traveling was overcome by flames and crashed near the town of Twisp.

     
  • WTC View Review – Impressive, an Attention Grabbing Powerhouse

    AddThis Social Bookmark Button

    WTC View, from Edgeworx Studios and Robert Ahrens Entertainment, brings to the screen a powerhouse indie film that tells the story of how many New Yorkers, post 9/11, struggled with the emotions and the psychological repercussion of the terrorist attacks.

     
  • Beltway Insider: Trump Talks 2020; Mueller Pushes Onward to Jared, Ivanka; Hicks Out; Syria’s Civil War; Nor’Easter

    AddThis Social Bookmark Button

    President Donald Trump, still stinging from his multiple first year missteps and a continuing collusion investigation, officially announced his intent to seek a second term for the Office of the President for the United States.

     
  • Mother’s Day Review - Solid, A Fun Entertaining Chick Film

    AddThis Social Bookmark Button

    Mother’s Day, from Open Road Films and Gulfstream Pictures, presents an enjoyable family dramedy, centering around the one day every year where the unsung hero of each family is celebrated and the decisions, situations and consequences are the realities of life.

     
  • Being Charlie Review - Compelling, Gripping, One of the Ten Best of 2016

    AddThis Social Bookmark Button

    Being Charlie, from Castle Rock Entertainment and Defiant Pictures, and presents a shocking, impacting, compelling story of addiction and how the disease cuts through the lives of family and friends in its efforts seek, kill and destroy.  

     
  • E.L. Doctorow, Novelist, Professor, Author, Dead at 84

    AddThis Social Bookmark Button

    E.L. Doctorow, a quintessential New York novelist and author of such well known and highly regarded novels as World's Fair, Billy Bathgate, Loon Lake and Watership Down has died according to family. He was 84.

     
  • Holiday Gift Giving: The Ultimate in 2015 Tech Toys, Devices and Gadgets

    AddThis Social Bookmark Button

    At SpecOut, we set out to create the ultimate tech gift guide, with product selections from more than a dozen categories. The gadgets, gizmos and geek-approved devices on this list range from inexpensive ($35) to pricey ($3,000), but they all represent the top tier of their respective markets.  

  • San Diego’s Bankers Hill Bar + Restaurant Review - Embodies ‘Craft America Cooking’

    AddThis Social Bookmark Button

    There's nothing more fun than finding tasty neighborhood eateries somewhat off the beaten path, that are making an impact on the local culinary scene nonetheless. One such San Diego locale is Bankers Hill Bar + Restaurant.

     
  • State Department Issues Worldwide Travel Alert; Canada Slows Syrian Immigration

    AddThis Social Bookmark Button

    The State Department issued a worldwide travel alert for U.S. citizens today, citing increased threats from terrorist groups such as the Islamic State Fighters, ISIS/ISIL, al-Qa'ida, Boko Haram and Wilayat Sinai in the wake of the Paris Terrorist Attacks.

     
  • Beltway Insider: Immigration Ban Challenges Trump; E.O’s; PM May Visits WH; Princess Diana; MTM/Emmanuelle Riva

    AddThis Social Bookmark Button

    President Donald Trump spent his first full week as the 45th President alienating our nearest neighbors demanding the Mexican government pay for the proposed "Border Wall" that resulted in the Mexican President cancelling an upcoming White House visit.

     
  • Paul McCartney's LIPA Channels the Spirit of John Peel in Weekly New Music Event

    AddThis Social Bookmark Button

    Liverpool Institute for the Performing Arts, co-founded by one of the city's most celebrated sons Paul McCartney, is launching The 2Ube, an eclectic showcase of musical talent from across the north west.

     
  • Vito Emanuele: Dressing the Dames of the Golden Era

    AddThis Social Bookmark Button

    Vito Emanuele, a native New Yorker, with an eye for fashion and a imagination for the golden days of iconic Hollywood, when the silver screen produced legends, dames and gents with style, flair and panache, introduces his latest evening wear collection guaranteed to make headlines.

     
  • Race, Flags, and the Second Amendment

    AddThis Social Bookmark Button

    The shooting in South Carolina once again showed us the connection of guns and race. Statistics of inner city gun violence always showed the connection.  In this context, the National Rifle Association actually believes in gun control.

     
  • Ariel Sharon, Former Israeli Prime Minster, Dies After Eight Years In Coma

    AddThis Social Bookmark Button

    Former Israeli Prime Minister Ariel Sharon, who spent his life dedicated to Israel, its people and furthering the peace process, has died after spending eight years in a coma brought on by a stroke. He was 85.