MEDIA RELEASE

Export Financing Transaction Completed With Digital Documents Exchanged
Through SGTraDex
Transaction saw Unipec Singapore, Vopak Singapore and OCBC exchanging
digitalised transport documents over SGTraDex, a common data highway for thesupply chain.

Singapore, 30 August 2023 – Export financing for a liquid bulk transaction wascompleted via SGTraDex, with Unipec Singapore, Vopak Singapore and OCBC
exchanging Bills of Lading (BLs) digitally through the data highway.
The BL and data points have provided the financing bank – OCBC in this case –withvisibility of Unipec’s delivery of the goods from oil terminal (Vopak) to the buyer. Priorto SGTraDex, these documents had traditionally been paper-based, which made theprocess prone to fraud and delay.
The BL exchanged through SGTraDex was also authenticated by TradeTrust, a
digital utility that enables trusted interoperability and exchanges of electronic trade
documents across digital platforms, essentially confirming that the documents weregenuinely issued and not tampered with since issuance.

Background
The participants of this export financing transaction are organisations that haveplayed pivotal roles in shaping the trade finance use case in SGTraDex. Theseorganisations have been instrumental in identifying key industry pain points and haveacted as early adopters, pushing live transactions through the data highway. Theirinvolvement has been crucial in developing and refining the trade finance use casewithin SGTraDex.

1Melvyn Low, Head of Global Transaction Banking, OCBC, said “This successful pilot
transaction is yet another step forward in SGTraDex’s vision to digitalise andimprove the transparency of trade finance via a trusted and secure data sharinginfrastructure. This is essential for transforming global trade and further enhancing
Singapore’s reputation as a leading global trading and financial hub.”Wang Yahang, the General Manager of Unipec Singapore, said “The oil industry
needs a platform consolidating traders, facility service providers like Vopak andfinancing banks to work together to ensure the trading environment in Singapore istransparent and safe.
Rob Boudestijn, President Vopak Singapore, said "We are excited to work together
with SG Tradex and our industry partners to look for ways to improve efficiency,
create value and prepare our sector for a seamless digitally integrated future. Thispilot has shown the value that can be created when we work together”.

SummaryThis transaction showcases the benefit of SGTraDex, the data highway, whichallows enhanced transparency, security, and turnaround time for trade financing.
Summarising the collaboration, Kelvin Ling, Head of Operations and Business
Development said "SGTraDex is excited to have facilitated the transaction between
Unipec,Vopak and OCBC, our data highway provides a seamless and secure
platform for trade finance operations, offering unparalleled efficiency andtransparency. This milestone reinforces our commitment to revolutionise the tradelandscape through digital innovation."2

About SGTraDex
Launched on 1 June 2022, the Singapore Trade Data Exchange (SGTraDex) is adigital utility that facilitates the sharing of data between supply chain ecosystem
partners, streamlining information flows through a common data highway where data
can be shared in a trusted, secure and inclusive manner.
SGTraDex uses proprietary technology anchored through a public-private
partnership model to resolve pain points in supply chain ecosystems including aheavy reliance on a paper-based system which lacks efficiency, transparency andsustainability. The move to digitise information will increase productivity and build
supply chain resilience. New efficiencies and opportunities will be unlocked whenecosystem partners can collaborate to achieve a shared visibility of the end-to-end
supply chain. For more information, visit sgtradex.com
Media Contact
Alvin Teu
Marketing Manager, SGTraDex
alvin.teu@sgtradex.com

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