HSBC Singapore

HSBC Singapore extends S$6m green loan to Durapower Group

Durapower will use the loan for its lithium-ion energy storage solutions.

HSBC Singapore has extended a S$6m green trade loan to Durapower Group, reportedly making it the first participating financial institution to issue a loan by leveraging the Enterprise Financing Scheme - Green (EFS Green Scheme).

Durapower plans to use the proceeds to accelerate its development and distribution of high-tech energy storage solutions using lithium-ion batteries for the Tuas Mega Port’s Automated Guided Vehicle fleet.

“This will enable Durapower to accelerate the supply and deployment of our advanced lithium-ion batteries for the Tuas Mega Port’s AGV fleet, thereby supporting Singapore’s maritime sector to create a greener port through the adoption of sustainable, smart and efficient clean energy solutions,” said CEO Kelvin Lim of Durapower.

Launched on 3 October by Enterprise Singapore, the EFS-Green Scheme aims to provide easier access to finance for corporates who are enablers of the transition to a greener economy.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Singtel had the most growth for the day.
This is despite its improved performance in two categories.
The expected increase will be driven by three factors.
The two also discussed post-pandemic recovery.
It also recorded a strong performance for H1 2021, despite a net loss of $150.6m.
Jigger & Pony found itself retaining its ninth ranking.
The moderate increase was driven by expansions in five out of six indicators.
Perpetual (Asia) Limited is on the other end of the agreement, as the purchaser.
CLSA will serve as issue manager of the proposed spin-off and listing.
Yangzijiang Shipbuilding had the most growth for the day.
The new facility is the first of its kind in Singapore.
Proceeds will be used for Olam's general corporate purposes.
The completion of divestment will take place during the first quarter of 2022.
This is to raise gross proceeds of more than $200m.