SINGAPORE (July 19): Singapore Exchange (SGX)-backed global trading platform Commodities Intelligence Centre (CIC) has just launched the international versions of its web-based tools – the CIC Data Pro and Leads Generation Business Growth Service.

These platforms will also be offered to eligible members of the Singapore Business Federation (SBF), under its Rising in Support of Enterprises (RISE) programme. This is to help Singapore businesses, particularly small and medium sized enterprises tap on digitalisation to tide through the challenges from the Covid-19 health-turned-economic crisis.

“The global spread of COVID-19 has impacted all industries in unprecedented ways, and businesses around the world are facing greater risks and challenges with the disruption of production and supply chains coupled with increased uncertainties of customer demand,” says CIC CEO, Peter Yu.

“CIC Data Pro and Lead Generation Service will enable companies to diversify their revenue sources and extend the global reach of their supply chains, building business resilience against the pandemic.”

A joint venture between SGX, Global eTrade Services (GeTS), and Singapore digital bank hopeful ZALL Smart Commerce Group, CIC avails the trade of physical commodities. 

Its B2B e-platform relies on blockchain technology to facilitate global trade via real-time end-to-end visibility of supply chains and the traceability of cargo and cashflow across borders.

Since its launch in October 2018, the company has generated a gross merchandise volume of over US$12.7 billion ($17.7 billion) through over 5,000 registered users from Singapore, Malaysia, Indonesia, India and China.

It is now looking to build trade connectivity in Singapore and beyond through digital marketplaces.