We would love to hear your thoughts about our site and services, please take our survey here.
Interesting development
Suzhou TA&A Ultra Clean Technology Plans To Set Up JV With CATL
Jan 28 (Reuters) - Suzhou TA&A Ultra Clean Technology Co Ltd <300390.SZ>::SAYS IT PLANS TO SET UP JV WITH CATL <<<300750.SZ>>>.THE JV IS FOR LITHIUM CARBONATE SMELTING PROJECT WITH REGISTERED CAPITAL OF 1.0 BILLION YUAN ($157.29 million).
Suzhou TA&A Ultra Clean Plans To Raise Up To 4.6 Bln Yuan In Share Private Placement
Feb 8 (Reuters) - Suzhou TA&A Ultra Clean Technology Co Ltd <300390.SZ>::SAYS IT PLANS TO RAISE UP TO 4.6 BILLION YUAN ($722.59 million) IN SHARE PRIVATE PLACEMENT TO FUND LITHIUM BATTERY-RELATED PROJECTS, ACQUISITION AND REPLENISH CAPITAL.
GL1.AX>::GLOBAL LITHIUM RESOURCES LTD - 10 YEAR STRATEGIC SPODUMENE CONCENTRATE OFFTAKE AGREEMENT.GLOBAL LITHIUM RESOURCES LTD - AGREEMENT SIGNED WITH SUZHOU TA&A ULTRA CLEAN TECHNOLOGY CO.GLOBAL LITHIUM RESOURCES - SUZHOU TA&A TO ACQUIRE AND TAKE DELIVERY OF NO LESS THAN 30% OF AVAILABLE PRODUCT FROM GL1'S OPERATIONS.GLOBAL LITHIUM RESOURCES - SUZHOU TA&A EXPRESSED INTENTION TO PROVIDE ONGOING FINANCIAL SUPPORT AND CONSTRUCTION FUNDING TO GL1.
Not deflecting. rns was poor. Bod has over promised and undelivered. Just pointing out that you are in no position to sit on a pedistool and give me investment advice. If / when they deliver on transactions then I believe this will come good.
RosieNas / Castle you both shareholders in DMTR that just raised at a 86% discount at 0.1p.. maybe you should spend less time telling us how our investment sucks and focus on your own?
Symes a startup it will either work or fold. We know that. Those still here believe they will get it together eventually.
https://sacham-sg.glueup.com/event/enabling-trade-in-africa-through-fintech-and-collaborative-finance-44222/
The South African Chamber of Commerce in Singapore, in association with Absa Corporate and Investment Banking and TradeFlow Capital Management, have organised a panel discussion with key subject matter experts on the topic of Enabling trade in Africa through FinTech and Collaborative Finance: Challenges and Solutions.
Join Michelle Knowles, Pan Africa Head of Trade Finance Product at Absa CIB and John Collis, Chief Risk Officer at TradeFlow Capital Management as they discuss the following:
Trade Finance gap and challenges faced by SME's accessing financing
The importance of digitalization to increasing accessibility to trade finance
Challenges faced that need to be overcome to fully realise the benefits of digitalising Trade Finance
Creating ways to close the trade gap, with FinTech and alternative sources of funding, partnerships with DFI's, including the Continental Free Trade Area Agreement
Gap between what banks are doing and what customers are looking for
Theme of capturing data.
Also
https://www.bloomberg.com/news/videos/2021-10-12/global-trade-finance-gap-widens-to-1-7-trillion-on-covid-19
Negatives.
Further deadlines not being adhered to.
At the 30 June 2021 the Group had cash balances of £4,201,000 (31 December 2020: £552,000) and net current liabilities of £3,687,000 (31 December 2020: net current liabilities £1,754,000). The Group has posted a loss for the six-month period after tax of £1,889,000 (2019: loss £2,777,000) and retained losses were £5,533,000 (31 December 2020: losses £3,706,000).
The current liabilities as at 30 June 2021 of £8,517,000 included £5,190,000 relating to the outstanding balance of Convertible Loan Notes which the Group issued on 16 June 2021.
As outlined in the Note 16 ("events occurring after the reporting period") £3,584,000 of this balance has converted into new ordinary shares in the Company at the request of the Convertible Loan Note holder following the period end date, but prior to the issue of these interim accounts. The remaining £2,016,000 is expected to be repaid in cash following the issue of these interim financial statements as a result of the new funding facility announced by the Company on 29 September 2021. In addition to the above, £397,000 included within current liabilities is in relation to deferred income held on the balance sheet as at 30 June 2021 and a further £411,000 relates to refundable client deposits which are expected to be returned to the customers following 30 June 2021.
On the basis of the above, the Directors believe there is a material uncertainty in relation to its going concern status.
Income tax expense for the period to 30 June 2021 primarily represents the movement in the deferred tax assets during the six-month period ended 30 June 2021. The deferred tax asset movement largely relates to the decrease in deferred income which has been described in Note 12 ("Trade and other payables"). As this movement resulted from amounts being recognised as revenue in the current interim period, or amounts no longer expected to be recognised as revenue in the future, the deferred tax asset has been adjusted and the balance as at 30 June 2021 is £209,000 compared to £422,000 as at 31 December 2020.
Included within accruals and deferred income as at 30 June 2021 is deferred income of £397,000 (31 December 2020: £1,131,000). The decreased in deferred income over the current interim period is a result of:
· £182,000 being recognised as revenue in the six-month period ended 30 June 2021 in line with the due diligence performance obligations having been satisfied during this time; and
· A number of refunds having been requested from client companies during the six-month period ended 30 June 2021 in connection with the Group's older contracts that allowed for this. The majority of these refunds were due for repayment as at 30 June 2021 and were recorded within other payables on the balance sheet. Management are confident that some of these client companies are likely to return following the first inventory monetisation transactions being executed on the Pla
Main positives -
The revenue guidance in the RNS of 31 August 2021 is confirmed.
· Captive business origination pipeline valued at £1.5bn, across 126 prospective clients (being the potential value of inventory to be monetised over the Platform).
· Total Investment Advisory origination pipeline valued at £750mn.
Fund launched inital 40m issuance fully subscribed.
the Fund is liaising with over 12 Institutional Investors and family offices which have demonstrated interest in being the Inventory Funder for the initial IM Transactions. These initial transactions will involve inventory warehoused in Italy, as well as in the UK and UK common law geographies.
Fintech bank
SYME and the Fintech bank are discussing, together with a leading Italian company which specialises in trade insurance and financial guarantees, how to create an inventory funding format that is both scalable and replicable. As a result, it is highly likely that an extension to the expiry date within the current term sheet will be agreed by both Parties.
Captive bank
At the same time the Captive Bank project is progressing and the Company will update the market in due course with further developments.
Shariah platform
The Shariah compliant version of the Platform is progressing well with its funding specialist and a dedicated announcement regarding this initiative is expected shortly.
White label
SYME's operating subsidiaries, both in the UK and in Italy, are in discussions with potential IM funders and origination partners. An increase in WL.IM requests from local Italian Banks or banking service providers is also expected as a result of the Italian decree referred to in the section above.
Other operational considerations
New geographies: US and Asia-Pacific (APAC)
US: The Group sees a large market for inventory-based transactions in the US and, as such, has engaged one of its accounting advisors to assess the US GAAP compliance of the existing IM Transaction structure. In parallel, The Trade Advisory and Mr. Anthony Brown remain in discussion with potential Inventory Funders and client companies interested in the inventory monetisation service in the US.
APAC: Leveraging the support of ARC Group (as per the RNS of 02 September 2021), the Company has commenced discussions for a pilot a IM Transaction in the region.
improvements to the Platform by:
· leveraging the existing software modules (including CRM and trading) and technologies (including cloud environments and artificial intelligence) to build an integrated digital environment;
· developing a version of the Platform able to be delivered "as a service", in preparation for potential requests linked to white-label agreements with Banks; and
· exploring further partnerships/ strategic acquisitions with technology vendors (in particular, in the space of the Internet of Things and inventory management optimisation).
New Chairman
Initiatives underway not included in TU.
Negati
Rosie
Your post..
"PLUS...The (new) short-term loan note facility will be linked to a Convertible Loan Note facility (CLN).....The CLN facility is for the same aggregate value as the short-term loan facility including interest (£7.7 million)...Issued at par value...12 month term with a conversion price of 85% of the lowest 10 day closing VWAP prior to the issue of the conversion notice. Mercator can convert CLNs on request once issued..(ie another death spiral)!
Conveniently missing this paragraph
The short-term loan note facility will be linked to a Convertible Loan Note facility (CLN), which can be used should SYME elect not to repay any of the interest or principal relating to the short-term loan notes in cash (for example, if the Company decides to preserve cash for working capital requirements or to facilitate further new strategic initiatives). The CLN facility is for the same aggregate value as the short-term loan facility including interest (£7.7 million) and can be drawn in tranches equal to the monthly loan repayments.
Half truths / no shame.
Unsure what part of the below is still not clear?
The acquisition will enable SYME to further enhance its Platform, delivering a global inventory monetisation service, including the monetisation of both inventory "in-transit" (in particular, commodities), and warehoused goods.
It is intended that the consideration for the transaction will be settled in two parts.
Firstly, at the Completion Date expected by the end of June after the finalisation of the necessary regulatory and administrative procedures:
· an amount of £4 million will be paid in cash; and
· the Company will issue 813 million new SYME shares at market price to the TradeFlow sellers which represents less than 3% of the Company's issued share capital.
""Secondly, earn-out payments covering the period from January 2021 to December 2023, made in cash or shares at the choice of the Company, based on TradeFlow achieving annual revenue targets commensurate with the business plan that underpins its valuation:""
TradeFlow has been valued at approximately £31m by an independent valuation company. The valuation is based on the positive track record of funds launched, the Intellectual Property rights related to the proprietary digital platform ("TradeFlow+") and the TradeFlow business plan to 2025.
Last one from me then away. These will be of use to some.
TRADEFLOW CAPITAL MANAGEMENT USEFUL LINKS
TRADEFLOW ON THE SEA TRADE MARITIME PODCAST ON HOW THE CONCEPT FOR TRADEFLOW CAME ABOUT, AND HOW IT MAKES RETURNS FOR ITS INVESTORS
https://www.seatrade-maritime.com/maritime-videos-podcasts/podcast-conversation-tom-james-and-john-collis-co-founders-tradeflow
ICC TRADE NOW TO CONNECT SMEs TO INNOVATIVE TRADE FINANCE SOLUTIONS – ICC – INTERNATIONAL CHAMBER OF COMMERCE
https://iccwbo.org/media-wall/news-speeches/icc-and-tradeflow-capital-management-join-forces-to-enable-international-commodity-trade-for-underfinanced-smes/
SINGAPORE HEDGE FUND TO OFFSET CARBON FROM COMMODITY SHIPMENTS (December 2020)
https://www.bloomberg.com/news/articles/2020-12-07/singapore-hedge-fund-to-offset-carbon-from-commodity-shipments?sref=UXGbB6iF
BUSINESS TIMES – TRADEFLOW CAPITAL (May 2020)
https://www.businesstimes.com.sg/energy-commodities
BLOOMBERG ARTICLE – TRADEFLOW CAPITAL (May 2020)
https://www.bloomberg.com/news
CEMP – USD TRADE FLOW FUND SP on LinkedIn
https://www.linkedin.com/company
CEMP – EURO TRADE FLOW FUND SP on LinkedIn
https://www.linkedin.com/company/cemp-euro-trade-flow-fund-sp/
Eurekahedge Fund Profile Information
http://www.eurekahedge.com/BeginSearch/FundProfileView?fid=58784&sd=AHF
Interview with the Founders – November 2019
EUREKAHEDGE INVESTOR
http://www.eurekainvestor.com/Research/News/1958/Hedge-Fund-Interview-Tom-James-and-John-Collis-Tradeflow-Capital-Management
Speech by Mr Lee Ark Boon, Chief Executive Officer, International Enterprise Singapore
September 2017
https://www.nas.gov.sg/archivesonline/data/pdfdoc/20170925011/IE%20Singapore%20CEO%20Speech%20at%20APPEC%202017_2017%2009%2025.pdf
TradeFlow executes electronic Bill of Lading (eBL) for floating gasoil storage deal
November 2018
https://www.finextra.com/pressarticle/76544/nr-capital-executes-electronic-bill-of-lading-ebl-for-floating-gasoil-storage-deal
Startup trade finance fund TradeFlow Capital partners with Bolero
May 2018
https://www.gtreview.com/news/asia/startup-trade-finance-fund-nr-capital-partners-with-bolero/
Bolero International partners with Tradeflow Capital to open up SME commodity trade finance
30th May 2018
http://www.bolero.net/bolero-international-partners-with-nr-capital-to-open-up-sme-commodity-trade-finance/
Joins BITA Blockchain in Transport Alliance
June 2018
https://www.freightwaves.com/news/blockchain/nr-capital-joins-bita
Digitalization in Commodities and Energy – Talk given by TradeFlow Capital Management founder Tom James
May 2019
http://solutions.refinitiv.com/LP=9255
Some more on Tom James
https://www.space.org.sg/dt_team/dr-tom-jamesceo-ciotradeflow-capital-management/
He has over 30 yrs of commercial exposure gained through a broad range of senior executive roles and he is called upon by governments & multinationals for advice & insight on market developments. In 2014 he was called upon to serve as a Senior Energy Advisor to the United States Department of Defense (TFBSO) and he currently sits on the “Financing Advisory Resources” panel for Enterprise Singapore, the trade development body of the Singapore Government. He is a keen published writer, music producer, and astronomer
More on funds track record.
Looking at the track record of the funds, in May 2018 the first Trade Flow fund went live (the CEMP - USD Capital Trade Flow fund SP) a fund which gives investors all the benefits and diversification of Trade Finance Asset Class combined with further diversification away from private credit. The strategy offers a superior Raroc return with a "principal" ownership and control model of the underlying physical asset. This offers investors a low risk profile, fixed income style return, with equivalent risk of loss quantified at "AA" S&P equivalent by an independent study done in September 2018. In February 2020, TradeFlow launched a EURO version of the USD Trade Flow Fund. The flagship USD fund has an over 3 year track record of consistent returns, returning +6.01% net in 2019 and +5.93% net in 2020, consistently delivering net Average monthly returns of +50bps to investors with a Volatility of returns below 0.75%.
At the date of this report the two Funds:
· managed over USD 500mm of trades;
· processes over 700 transactions, concerning 25 commodity types from over 15 countries;
· scored 0 defaults since inception;
· doubled the Assets Under Management during the Pandemic;
· manages a fully supply-chain digitised system for scalability
Picture this. You build a new scalable fintech buisness from the ground up. Land a partnership with the ICC and there network of 45 million buisnesses. Then you sell it to a scam for a small amount of cash and a heap of shares in said scam? That's what some of the resident trolls would try and have you believe.
I think tom and john are both well respected and intelligent, he features regularly on bloomberg etc and I trust there due dilligence process more than any of the constant negative posters on here recycling old crap thats been proved to be false time and time again.
Hold the line if you believe in the bigger picture and switch off from the negative tripe & lies spouted day in day out by the same group of individuals.
Spacing was messed up somehow on last post. Apologies.
Some more on Tom Jameshttps://www.space.org.sg/dt_team/dr-tom-jamesceo-ciotradeflow-capital-management/He has over 30 yrs of commercial exposure gained through a broad range of senior executive roles and he is called upon by governments & multinationals for advice & insight on market developments. In 2014 he was called upon to serve as a Senior Energy Advisor to the United States Department of Defense (TFBSO) and he currently sits on the “Financing Advisory Resources” panel for Enterprise Singapore, the trade development body of the Singapore Government. He is a keen published writer, music producer, and astronomerMore on funds track record.Looking at the track record of the funds, in May 2018 the first Trade Flow fund went live (the CEMP - USD Capital Trade Flow fund SP) a fund which gives investors all the benefits and diversification of Trade Finance Asset Class combined with further diversification away from private credit. The strategy offers a superior Raroc return with a "principal" ownership and control model of the underlying physical asset. This offers investors a low risk profile, fixed income style return, with equivalent risk of loss quantified at "AA" S&P equivalent by an independent study done in September 2018. In February 2020, TradeFlow launched a EURO version of the USD Trade Flow Fund. The flagship USD fund has an over 3 year track record of consistent returns, returning +6.01% net in 2019 and +5.93% net in 2020, consistently delivering net Average monthly returns of +50bps to investors with a Volatility of returns below 0.75%.At the date of this report the two Funds:· managed over USD 500mm of trades;· processes over 700 transactions, concerning 25 commodity types from over 15 countries;· scored 0 defaults since inception;· doubled the Assets Under Management during the Pandemic;· manages a fully supply-chain digitised system for scalabilityPicture this. You build a new scalable fintech buisness from the ground up. Land a partnership with the ICC and there network of 45 million buisnesses. Then you sell it to a scam for a small amount of cash and a heap of shares in said scam? That's what some of the resident trolls would try and have you believe.I think tom and john are both well respected and intelligent, he features regularly on bloomberg etc and I trust there due dilligence process more than any of the constant negative posters on here recycling old crap thats been proved to be false time and time again.Hold the line if you believe in the bigger picture and switch off from the negative tripe & lies spouted day in day out by the same group of individuals.
Nice to see a positive post.. Although its relative to market cap mate, like comparing apples and oranges.. you cant really compare syme at 0.25p to CBX at 20p as different amounts of shares in issue and different market caps due to this etc.. although do agree syme will have its day in the sun.
Just to clarify oswalds comments werent from that article.
Just showing connection to TFC
Comments from the partnership with Dlt ledgers. Here
https://markets.businessinsider.com/news/stocks/leading-singapore-fintech-trade-innovators-join-forces-to-provide-enhanced-digital-trade-solutions-to-sme-firms-1030172914
https://www.tradefinanceglobal.com/posts/icc-banking-commission-announces-new-committee-in-major-management-reshuffle/
ICC recently announced a renewed work programme for its Banking Commission for 2021/22 – establishing a clearer focus on value-add activities and fully leveraging synergies with other institutional projects, such as the ICC Digital Standards Initiative, led by Oswald Kuyler.
What’s the new structure?
Chair
Lynn Ng, Global Head of Commodities, Food and Agri, ING (Netherlands)
Vice Chairs
Mencia Bobo, Global Head of Trade & Working Capital Solutions, Santander Corporate & Investment Banking (Spain)
Marilyn Blattner-Hoyle, Global Head of Trade Finance, AIG (UK)
Merlin Dowse, Global Trade Product Manager, J.P. Morgan (US)
Yina Fu, Head of Financial Ecology Solutions, Alibaba B-To-B Business Group (China)
Andrew Kigira, Group Head of Trade Products, Equity Bank Ltd (Kenya)
Maria Jose Llabot, Head of International, Banco de la Provincial de Córdoba (Argentina)
Surath Sengupta, Managing Director & Global Head – FI, Portfolio & Distribution, HSBC (UK)
Louise Taylor Digby, Head of Global Trade Strategy, SWIFT (Singapore)
Florian Witt, Managing Director, Divisional Head, International Banking and Corporate Banking; Member of the Group Business Executive Committee, ODDO BHF (Germany)
Xu Jun, Deputy General Manager, Global Transaction Banking, Bank of China (China)
the announcement, made by ICC Secretary General John W.H. Denton AO, is set to oversee the ICC’s delivery of both new and enhanced projects, focusing on the digitalisation, sustainability and the capital treatment of trade assets.
Oswald Kuyler, Managing Director of the ICC's Digital Standards Initiative, said: "As countries around the world grapple with vaccines and ongoing fallout from the crisis, a dependable supply chain is more critical than ever. We're delighted to see companies like TradeFlow and #dltledgers working together to create better trade and more functional supply chains, especially among SMEs, which in many cases have been the worst affected. This unique partnership will enable SMEs both to move beyond paper and to complete trades that may otherwise have been starved of capital. It's great to see businesses chipping away at the trade finance gap, and another example of innovation in Singapore."
the announcement, made by ICC Secretary General John W.H. Denton AO, is set to oversee the ICC’s delivery of both new and enhanced projects, focusing on the digitalisation, sustainability and the capital treatment of trade assets.
The same oswald kuyler that is on this panel at TXF discussing tradeflow capital with tom james. Here.
https://youtu.be/dy9Pwzv84Ac
You missed this part..
the time-scale, which envisages the completion of the arrangements above in July, unless the parties agree to extend due to internal authorisation processes or technical reasons. The Term Sheet has a contractual longstop deadline of 30 September 2021;
Wasnt debating it bud just posting what I had available for those that hadnt seen it already.
Those I have spoken to that have seen the platform have said the tech is brilliant and Tony Brown had described it as prescient. which is good enough for me until we have more info.
Happy to have differing opinions at the end of the day we are both working off assumptions as I havent seen it myself.
Time will tell
Theres plenty of information available and the company usually brilliant at answering questions related to the platform. Most the derampers on here not taken a moment to bother researching any of it and will be why they will be caught with there pants down as the starting gun goes off.
https://www.sia.eu/en/media-events/news-press-releases/supplyme-chooses-sia-for-the-launch-of-the-new-fintech-platform-to-optimize-the-working-capital-of-firms
.if you would be so kind our questions are below.
Q. Could you elaborate on the differences of using R3 Corda / hyperledger Fabric as underlying DLT providers. And perhaps the pros & cons to each?
In our opinion, both ledgers are highly reliable in relation to security and privacy. Our business model envisages a private blockchain type ledger and these two frameworks match the parameters. We chose SIA as a our partner because they rely on the IBM architecture (match criteria for Business Continuity and Cloud solutions requirements). Hyperledger Fabric is a framework natively sourced by IBM; SIAchain is built upon these two solutions. We have found that it helps to have only one provider that supports us both on system architecture for the platform and on a private distributed ledger for trading operations.
Q. In various company communications we have heard of the following elements that are to do with the Syme technology side, SIA, SIA Chain, IBM hyperledger, SAP ERP, MS Azure, Finleap connect, Corda R3 protocol. Can you elaborate on these in layman's terms of how the components would hang together and their roles?
SYME technology is enabled by three levels: software, database structure and distributed ledger. To help have consistent business continuity management, we chose a strategy of having one provider managing the full stack technology. After a scouting phase, we formed a partnership with SIA, as noted publicly. We would encourage you to review https://www.sia.eu/en/innovation/siachain for further information.
Q. As per the prospectus Syme were developing the API to connect Syme to SAP R4 ERP. How is the development of the connectors to other platforms, mentioned in the prospectus, coming along?
At all times we explore partnerships with third-party providers who may match our criteria. You will understand that for reasons of selective disclosure and commercial confidentiality we would not be able to disclose the status of discussions at this time
My notes from RNS for what it's worth..
Completion of captive bank and first IM coupled with the TFC aquisition will be the turning point for the running platform.
Expects TFC to close soon
Revenue stream from the white labelling of the platform. I.e self funders and other banks using platform for there own clients.
TFC allows syme to expand there offeringing to singapore covering east and far east regions.
CEMP fund offers investors "AA" S&P equivalent risk. 3 year track record of close to 6% returns even during pandemic returns of +50bps to investors with volatility below 0.75%
Net origination totals £1.555B inventory ready to be served.
Tradeflow being integrated into platform to map synergies between the mutual systems.
Sia / Nexi merger complete company considers this a strategic asset.
Exploring potential joint buisness alliances with IOT vendors. To develop internet of inventory (data could be a huge income source)
Global umbrella fund which establishes SPVs.
Expects first transaction and captive bank to close.
Following publication of this Annual Report and Consolidated Financial Statements, and before the issue of the 2021 interim financial statements, the Company will
issue a Half-Year Trading Update to 30 June 2021 which will include trading information from the TradeFlow business.
ICC SME Fund being established could enable billions of £ in transactions for TFC.
Hi all thought it was a good time given todays discussion / appointment to repost this Syme / Greensill comparison that was prepared by the company.https://drive.google.com/file/d/1HG9v0I6c-a1BD2MqujGC-qVOhNa5Xuh9/view?usp=sharingFor those that follow Tony brown on linkedin he has spoken / hosted recently at alot of SCF virtual events highlighting the main pitfalls of greensill.One of these can be found here.https://youtu.be/5Zp9Tow2ozIHopefully syme can learn from the pitfalls of greensill and create the better mousetrap we are all hoping for.Good luck to all.