Date: Tuesday, 22 May 2018
Time: 9:00 am to 12:00 pm
Venue: DBS Auditorium, Level 3, 12 Marina Boulevard, Marina Bay Financial Centre, Tower 3, Singapore 018982
The workshop is free but requires registration. To register, please email to [email protected]
|09:30 am||Welcome Address by DBS – by Adrian Chai, Managing Director, Institutional Banking Group|
Panel discussion: Driving business value through trade digitalization
Documentary credit has played a vital role in Commodity Trade Finance. While it has been a key instrument used to mitigate payment risk and obtain financing, its paper-based and highly manual processes is unlikely to cope with an increasingly fast-paced environment and demanding compliance screening requirements. There has been no lack of effort by industry players to digitise the LC process but these were only met with limited success so far. With the advancement of new technologies such as data analytics, artificial intelligence and distributed ledger, are we at the pivotal point for transformational change? How can corporates leverage this to create innovative solutions and achieve greater business value across industries and countries?
– Moderated by Daniel Lit, Executive Director, Global Trade Product Management, Global Transaction Services, DBS
|10:30 am||Networking Break|
Reshaping Cash Management – Trends and Innovations
Cash is the lifeblood of commodities trading firms, who demand fast and efficient payments settlement, while pressed with the need to manage subsidiary funding and temporary currency positions. However, cash is often tied up and not used optimally, leaving money on the table as a result. How can corporates optimise their cash management across borders and improve timeliness of payments? Hear about the latest developments and innovative solutions in the industry, including payments APIs that support new e-commerce and digital business models.
– by Phil Carmalt, Senior Vice President, Cash Management Sales, Global Transaction Services, DBS
Riding the Price Volatility
As we are going through volatility in the commodities markets, bankers should work with their clients to protect price volatility of physical commodities. Only with proper price risk management can clients derive greater comfort and assurance of profit margins.
– by David Low, Executive Director, Derivatives Clearing and Execution, Treasury & Markets, DBS
Daniel Lit – Executive Director, Global Trade Product Management, Global Transaction Services, DBS
Daniel Lit is Executive Director of Group Trade Product Management, Global Transaction Services at DBS. Daniel has over 25 years of experience in Trade Finance, with in-depth knowledge and expertise in Operations and Product Management. Daniel works closely with the National Trade Platform Project Office (NTP PO) and Monetary Authority of Singapore (MAS) on the National Trade Platform initiatives to transform the trade industry landscape. Daniel holds a Bachelor of Business (Banking & Finance) from Monash University.
Phil Carmalt – Senior Vice President, Cash Management Sales, Global Transaction Services, DBS
Phil Carmalt is a Regional Sales Manager in Global Transaction Services, DBS. He is responsible for structuring cash management and digital transaction banking solutions for large corporations in the commodities industry across Asia. Recently, Phil spent 6 months as sales lead in an agile squad that delivered DBS Treasury Prism – the world’s only online treasury and cash management simulation platform for CFOs and corporate treasurers. Phil brings with him over 13 years of experience in cash management. Prior to joining DBS, he has worked for global banks such as HSBC and Citibank, with exposure in diverse roles across technology, project management, product, client management, innovation and sales. He also holds a Master of Engineering (Computing) from Imperial College London.
David Low – Executive Director, Derivatives Clearing and Execution, DBS
David Low currently oversees the Derivatives Clearing and Execution business for DBS Bank Ltd. David, a qualified Chartered Accountant was the Senior Vice President – Head of Finance and Treasury for Refco Singapore from 2001 to 2005. He joined DBS Vickers in 2006 to spearhead new initiatives in commodities and OTC clearing. In 2014 DBS Vickers derivatives integrated to DBS Bank Ltd. The Derivatives Clearing and Execution department at DBS Group has garnered many awards in Singapore and Asia and is the leading clearing broker of commodity products in Asia. He manages a team covering global derivatives markets for Institution, Corporate and Wealth Retail customers and as the Head of Derivatives Clearing and Execution, he has further oversight over the development of the derivatives business in various DBS Group regional offices. David currently sits on the Advisory Board of Futures Industry Association of Asia and was also a past advisory member for SGX Rubber Committee.
Allen Bai Xin – General Manager and Director, Majestic Rock Resources Group Pte. Ltd. (Subsidiary of Sinogiant Group, China)
Allen is in charge of the overall management, strategic planning, and execution of Majestic Rock Resources Group Pte. Ltd.
Majestic Rock Resources Group Pte. Ltd. is a subsidiary of privately owned steel Group – Sinogiant Group. Sinogiant Group is the 21st largest steel mill in China in terms of Crude Steel output in 2016.
Allen commenced his career with Bank of China, Singapore in the Corporate Banking Department and thereafter, moved on to Lenovo Group as a Senior Credit Analyst and subsequently, a Treasury Analyst in Lenovo Group’s Global Treasury Centre in Singapore. In March 2013, he joined Majestic Rock Resources Group Pte Ltd and is active in organising and participating in industry forums and events.
Allen is also a fellow member of Associations of Certified and Chartered Accountant (ACCA). He majored in Applied Accountancy in Oxford Brooks University in UK and completed a Double Major in Finance and Information System Management in the Singapore Management University.
Choo Wai Yee – Deputy Director, National Trade Platform Project Office
Wai Yee joined the National Trade Platform (NTP) Project Office in 2017, and drives the commercial and engagement strategies and programmes for the NTP. Wai Yee has experience starting new teams and structures, in data analytics, socio-economic policy and industry engagement in various roles in the Prime Minister’s Office, Ministry of Trade and Industry, and the Ministry of Manpower. Prior to joining the public sector, Wai Yee worked in shipping with a focus on emerging markets of South Asia, African, Central and South America trade.
Jesse Oeni – Deputy Director, Financing Ecosystem Development Division, Enterprise Singapore
Jesse Oeni, is currently the Deputy Director in the Financing Ecosystem Development Division at Enterprise Singapore (ESG).
Enterprise Singapore is the government agency championing enterprise development. Enterprise Singapore works with committed companies to build capabilities, innovate and internationalise. Enterprise Singapore also supports the growth of Singapore as a hub for global trading and startups. ESG is also the national standards and accreditation body, and continues to build trust in Singapore’s products and services through quality and standards.
In his role in Financing Ecosystem Development, he works with multilateral development banks, international financial institutions, insurers, financing platforms, VCs & private equity players to strengthen the financing ecosystem in Singapore; with the key objective of providing more financing options to support the growth and globalisation needs of Singapore enterprises.
He has previously served as International Enterprise Singapore’s Centre Director in Jakarta and the First Secretary (Commercial) at the Embassy of Republic of Singapore in Jakarta, to identify and develop opportunities for Singaporean businesses in Indonesia. Prior to that, he has also served in IE Singapore’s Southeast Asia Group to develop business opportunities in other emerging Southeast Asian markets including Thailand, Laos and Myanmar.
Jesse received his BSc and MSc in Economics from the London School of Economics and Political Science.