Signing the MoU (sitting, from left): Wee Boon Siong, CEO of RHT Green; Eddy Ng, Head of Group Commercial & Supply Chain Sustainability Solutions, PSA; and Jayaprakash Jagateesan, CEO of RHT AlDigi Financial Holdings and Executive Director of SDAX. Witnessing the occasion (standing, from left): Tan Chong Meng, Group CEO of PSA; and Tan Chong Huat, Senior Partner of RHTLaw Asia LLP and Non-Executive Chairman of RHT Group of Companies.
Singapore, 10 August 2021 – PSA International Pte Ltd (“PSA”) has entered into a Memorandum of Understanding (“MoU”) with the RHT Group of Companies (“RHT”) to explore co-creation and investment in Environmental, Social, and Governance (“ESG”) digital assets solutions to further advance the goals of decarbonisation in ports and supply chains.
The MoU underscores PSA’s interest to partner industry and technology players that can drive progress across the ESG factors facing its business, and is aligned with the PSA Group’s strategic priority to transform supply chains while driving sustainable value creation.
Eddy Ng, Head of Group Commercial & Supply Chain Sustainability Solutions, PSA, said, “We believe that the ESG aspect of our business is measured by what we can do to make a positive impact. This MoU supports PSA’s ongoing commitment towards building a more sustainable port and supply chain ecosystem. In this collaboration, we will draw on our collective expertise to further PSA sustainability initiatives for supply chain partners and users.”
Jayaprakash Jagateesan, Chief Executive Officer of RHT AlDigi Financial Holdings and Executive Director of SDAX, said, “We combine our expertise across sustainability, corporate and digital finance, intellectual property, blockchain and digital asset trading to deliver consultancy and tokenisation services as well as a regulated exchange platform to support PSA’s efforts.”
RHT will advise PSA on the workings, considerations and opportunities of digital asset structuring, distribution, tokenisation, trading, investor relations, public relations, intellectual property protection and commercialisation for ESG solutions. In addition, RHT’s team of sustainability consultants will also advise on value creation strategies while digital asset exchange SDAX will advise on the listing of digital assets on its platform.
The collaboration will be augmented by PSA’s corporate venture capital arm, PSA unboXed, which would add capability to initiatives and projects engaging startups.
The MoU partners will jointly ideate and explore collaboration on potential ESG products and solutions that serve PSA’s identified priorities and have a positive impact on global decarbonisation efforts.
About PSA International
PSA International (PSA) is a leading port group and trusted partner to cargo stakeholders. With flagship operations in Singapore and Antwerp, PSA’s global network encompasses over 50 locations in 26 countries around the world. The Group’s portfolio comprises more than 60 deepsea, rail and inland terminals, as well as affiliated businesses in distriparks, warehouses and marine services. Drawing on the deep expertise and experience from a diverse global team, PSA actively collaborates with its customers and partners to deliver world-class port services alongside, develop innovative cargo solutions and co-create an Internet of Logistics. As the partner of choice in the global supply chain, PSA is “The World’s Port of Call”. Visit us at www.globalpsa.com.
*Note to Editors: PSA ceased using the name of “Port of Singapore Authority” in 1997 when it became a corporatised entity. The company should be referred to as “PSA International Pte Ltd” or simply “PSA”.
About ONE RHT
ONE RHT is an ecosystem of legal and professional services, respectively provided by RHTLaw Asia LLP and RHT Group of Companies. ONE RHT seeks to be a beacon of growth for its clients, stakeholders and communities, empowering them to achieve purposeful growth in Asia.
RHT Group of Companies offers multidisciplinary professional services with teams across digital financial services, corporate finance and sponsorship, governance risk and compliance, consulting and advisory, sustainability, wealth and asset management, real estate advisory, as well as events, training and development.
RHT Group of Companies is not an affiliate, branch or subsidiary of RHTLaw Asia LLP nor a Singapore law practice, and is not authorised to provide legal advice. RHTLaw Asia LLP is a Singapore law practice separately registered as a limited liability law partnership in Singapore.