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The Singapore Commodity Exchange (SICOM) is pleased to welcome Sinochem International (Overseas) Pte Ltd as its new Clearing Member – Dealer. Sinochem was a SICOM Trade Member since 1 April 2004 and has upgraded its SICOM membership to Clearing Membership wef 25 June 2007.
“SICOM is excited to work with Sinochem International more closely as they are the Chinese market leader in natural rubber sales and that would help Singapore develop further the commodity derivatives market, in particular rubber” said Mr Jeffrey Tan, President of SICOM.
“By becoming SICOM’s clearing member?Sinochem International looks forward to further introduce our practices to international market and Singapore, which is an indispensable part of natural rubber business, though our main end-user market is still in China. We hope that through the workings of all other members and Sinochem International, SICOM can better reflect market trends congruent to China’s rubber market reality,” said Mr Xian Ming, Managing Director of Sinochem International (Overseas) Pte. Ltd.
About SICOM
SICOM is Singapore’s regulated marketplace for the trading of commodity
futures and the world’s price discovery centre for natural rubber prices, providing
the benchmark rates at which more than 50% of the world’s natural rubber trade
flows is priced. IE Singapore is the regulatory authority of SICOM under the
Commodity Trading Act.
About Sinochem International (Overseas) Pte Ltd
Sinochem International (Overseas) Pte. Ltd. is a direct subsidiary of Sinochem
International Company Ltd, headquartered in Shanghai, China.
Sinochem International Company Ltd. is principally engaged in the production and commercial trading of chemical products, agricultural chemicals, metallurgy resources and rubber products, as well as the logistics services of the petrochemical industry.
During the year ended December 31, 2006, Sinochem International’s total revenue was RMB 15.42 billion. Approximately 43.3%, 27.6% and 24.1% of year 2006’s revenue was derived from the business areas of chemical products, rubber products and metallurgy products, respectively. Sinochem International (Overseas) Pte. Ltd., one of Sinochem International Company Ltd’s 15 major subsidiaries/associates, contributed USD680 million to the total business turnover.
The Company is listed on the Shanghai Stock Exchange and is a member company of Sinochem Group Ltd, based in Beijing, China.
