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

  • Brooklyn Review - A Classic Romantic Love Story

    AddThis Social Bookmark Button

    BROOKLYN, from Fox Searchlight Pictures, brings to the screen a story of hope, courage and bravery, of embracing the chance of finding a new life, of sacrifice, and the hope of the future and the eyes to see when destiny arrives.

     
  • Interview: Kevin Roundtree, Mr. Mom, Business Manager, Dad

    AddThis Social Bookmark Button

    Actress and baby model, Kaleah Roundtree is making waves as she and her business manager father Kevin, an African American Mr. Mom, and Dad, begin a new push in the talented toddlers' career.

     
  • Noticias Telemundo’s Statement On The Abduction Of Its Venezuela Correspondent, Daniel Garrido

    AddThis Social Bookmark Button

    Noticias Telemundo's correspondent in Venezuela, Daniel Garrido, was abducted today at 6 am ET in the vicinity of the Hotel Cayena in La Castellana, Caracas by a group of armed loyalists who forced him into a vehicle.

     
  • Meet The Bed Experts: Luxor Linens Brings the Highest Quality Home Textiles to You with Just the Click of a Mouse

    AddThis Social Bookmark Button

    "Each night, when I go to sleep, I die. And the next morning, when I wake up, I am reborn." – Gandhi.  Like Gandhi, we like to think of our bed as a sanctuary, the most relaxing place to start and end the day, an oasis far away from all of our problems.

     
  • Beltway Insider: Obama Honors Selma Marchers; Netanyahu Addresses Congress; Clinton 2016 Scrutiny

    AddThis Social Bookmark Button

    President Obama honored those who participated in the Selma Voting Rights March during March 1965 with the passage of H.R. 431 which provides for the award of a Congressional Gold Medal of appropriate design on behalf of the Congress.

     
  • People Exclusive: Police Recover Body of Missing Alabama Teen Who Called Mother to Say Someone Was Trying to Kill Him

    AddThis Social Bookmark Button

    EXCLUSIVE REPRINT (NEW YORK) – Police have found the body of a 19-year-old Alabama boy who went missing Saturday after telling his mother by phone that someone was trying to kill him.

     
  • Riviera Nayarit Hosts the XIX International Gourmet Festival

    AddThis Social Bookmark Button

    Celebrating its 19th year, the Festival Gourmet International returns to the pristine Pacific coastline of Mexico. The festival will once again tempt and delight the taste buds of hundreds of foodies who will come to Riviera Nayarit, Puerto Vallarta and Tepic for this international gourmet event.

     
  • Cannes Yachting Festival – New Waves of Inspiration With Elegance and Comfort

    AddThis Social Bookmark Button

    At the Cannes Yachting Festival, Berret Racoupeau's yacht design team will present their four most recent production designs: the Amel 50, the Wauquiez PS 42, the Saona and the Océanis 51, as well as other construction projects and one-off designs.

     
  • Independence Day - 20th Anniversary FOX Launch/LAFF Screening Kicks Off Resurgence Debut

    AddThis Social Bookmark Button

    Independence Day, the 1996 Sci-Fi epic from Director Roland Emmerich and Fox Home Entertainment, recently released a newly restored theatrical and extended cut Blu-Ray DVD with the Digital HD version out on June 6, 2016.

     
  • For the Sophisticated Man - Oliver Sweeney's Bespoke Secret Shoe

    AddThis Social Bookmark Button

    For the man who has everything, luxury footwear obsessives Oliver Sweeney and luxury launches site VeryFirstTo.com have teamed-up to create The Secret Shoe, a deluxe, hand-crafted deerskin Derby concealing a host of enticing and practical gadgets.

     
  • Beltway Insider: Trump Begins 2020 Stump; Korean War Vets; Bali; Osama bin Laden; Ebola; Turkey; Wildfires; WH Cuts Access

    AddThis Social Bookmark Button

    President Trump took to the campaign trail this week stumping through Ohio and Pennsylvania, bringing his usual, Make America Great Again battle cry as the mid-term elections have the ability to shut down any effectiveness of the current Administration.

     
  • Award Winning Pastry Chef Dominique Ansel Joins MasterClass to Teach French Pastry Fundamentals

    AddThis Social Bookmark Button

    MasterClass, the online education company that enables anyone access to the masters of the craft, announced today that James Beard Award-winning pastry chef and Cronut® creator Dominique Ansel will debut his first-ever online pastry class exclusively through its platform.

     
  • Orlando Shooting Fuels Debate on Gun Control

    AddThis Social Bookmark Button

    Early Sunday morning, right around last call, a gunman walked into a gay nightclub in Orlando, Florida, and opened fire with an assault rifle and handgun, killing 49 people and injuring 53.  

  • Karl Lagerfeld, Iconic Fashion Designer, Has Died

    AddThis Social Bookmark Button

    Karl Lagerfeld, House of Chanel and Fendi Creative Director and iconic Fashion Designer who influenced generations with his creations, has passed away one month after his final collection debuted at Paris Fashion Week. He was 85.

     
  • New Jersey Man Free After 30 Year Sentence Murders Again

    AddThis Social Bookmark Button

    Steven Pratt, after completing a 30 year sentence for murder, returned to his Atlantic City home to a party in his honor only to turn the festivities into tragedy with the horrific murder of his mother who planned the celebration.