Recently, ABC Singapore branch attended a signing ceremony held in Singapore for one of COFCO’s subsidiary – Concordia Agritrading’s Club Loan. Our branch had earlier this year, successfully participated in another two COFCO’s subsidiaries’ syndication, namely COFCO Agri and Nidera. This further demonstrates the branch’s capability in providing banking services to Chinese corporates venturing out of China and supporting agricultural industry. It also deepens ABC’s banking relationship with COFCO group globally.

COFCO is a core and industry-focused customer of our Head Office. In 2014, COFCO-led consortium acquired 51% of Nidera BV. Being a wholly-owned subsidiary of Nidera BV, Concordia Agritrading is responsible for the group’s grains and oilseed trading in Asia. In August this year, COFCO announced its acquisition of Nidera BV’s remaining stake. After successful acquisition, COFCO will have full ownership in both Nidera BV and COFCO Agri, to grow and consolidate its international agri-businesses into a world-class, integrated global platform.