FOR IMMEDIATE RELEASE

GeTS Launches CALISTA inventory financing Platform, Integrated withSGTraDex, to Digitalize and Streamline Singapore’s Oil Storage Financing
Singapore, 27 July 2021 – Global eTrade Services (GeTS), a global trade
platform company, announced today the launch of CALISTA inventoryfinancing (CIF) – one of the first platforms to be integrated with the Singapore
Trade Data Exchange (SGTraDex) to simplify information flows through theglobal supply chain ecosystem via a shared data stream.
SGTraDex is a new exchange recently launched by the Singapore
Government that was conceptualised by the Alliance for Action (AfA) toaddress Supply Chain Digitalisation. AfA for Supply Chain Digitalisation is oneof the seven Singapore Together Alliances for Action (AfA) set up in June
2020 under the Singapore Government's Emerging Stronger Taskforce(EST). The initial use cases of the exchange (SGTraDex) are to strengthen
financing integrity of trade flows, enhance end-to-end visibility of container
logistics flows, and digitalise the bunkering industry. GeTS developed CIF
through the AfA for Supply Chain Digitalisation.
Created to simplify and optimise business processes for oil storage financing,
CIF is an end-to-end platform that collaborates with various commodity
trading companies, banks, and terminals. CIF enables secure andtransparent transfer of real-time trade finance data and provides anauditable log of records for users to easily track changes made to a trade.
The integration with SGTraDex facilitates the sharing of case data from CIF
amongst multiple stakeholders in a more efficient and streamlined manner.
Users can also easily provide or use data on SGTraDex via the SGTraDex APIintegration or SGTraDex Pitstop web portal, where the data exchange isconsent-driven.
Andy Loh, Head of Commercial at Oiltanking Asia Pacific said: “The
implementation of the CIF platform adds significant value to the storage andterminalling industry. The platform provides more transparency and efficiency
in the digitalised workflow, by tracking trade financing approvals of all parties
in the supply chain. As an international storage logistics provider with a strong
footprint in Singapore and founding partner of SGTraDex, we are proud topartner with GeTS in taking this collaboration to the next level.”

The ability to get direct access to trade data enables banks to haveincreased visibility on goods movement, easily verify trade legitimacy, andmitigate trade-related frauds. Simplified trade procedures and data
harmonization allow traders to plan their operations efficiently to better savecosts.
John Chen, Head of Commodity Sales, ASEAN at Standard Chartered said:“As one of the advisers in the development of CALISTA inventory financing,
we are excited about the value-add this new digital platform will bring to thecommodity-trade financing ecosystem. The increased access to data about
inventories will enhance transparency throughout the supply chain, andenable banks to extend financing more securely and more efficiently,
facilitating greater access of funds for a bigger pool of traders.”
So Lay Hua, Managing Director and Head of Group Transaction Banking ofUOB said: “Our clients will benefit greatly from the launch of CIF withSGTraDex. With digitalisation and infrastructure interoperability, our clients will
also have greater confidence in their supply chains through increasedtransparency and access to real-time information of goods held in storage.
As UOB continues to open doors to Asia for businesses, we believe that this
digitalised approach to supply chain finance will be a game changer in how
we connect with our clients and support their cross-border needs.”
Chong Kok Keong, CEO of GeTS said: “We are proud to be working alongsideindustry stakeholders to develop CIF and delighted to integrate our CIF
platform with SGTraDex for a more seamless, secure and transparent
document exchange process for our users. This integration is also in line withSGTraDex’s roadmap to address and alleviate fraud risks in Singapore’scommodity trading sector.”-END-About GeTS
Global eTrade Services (GeTS) is a wholly-owned subsidiary of CrimsonLogic.
As a global leading trade platform company, GeTS is shaping the future oftrade and supply chain with its innovative use of technology and deep G2B
and B2B domain expertise. GeTS enables the orchestration of logistics,compliance and financial requirements of trade and supply chain seamlessly,
smartly and securely. Thus, powering global trade by making it moreaccessible, predictable and easier to fulfil. GeTS has linkages to more than
60 Customs nodes, 90 ocean carriers & NVOCCs across the world, with morethan 175,000 connected parties and conducting more than 40 million
transactions annually.

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Francis Huan
CrimsonLogic Pte Ltd
Tel: +65 6887 7173
Mobile: +65 9820 5994
Email: francishuan@crimsonlogic.com