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MAS proposes further capital market collaborations with China through green finance

Both China and Singapore are committed to meeting their sustainability goals under the Paris Agreement, and have embarked on green finance agendas.
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Ravi Menon MAS

Ravi Menon, Managing Director, Monetary Authority of Singapore (MAS), on Thursday (18 June) in his panel remarks at the Shanghai and Singapore: Financial Centre Partnership forum suggested the two countries work together to harness the power of finance to promote a greener, more sustainable economy.

Singapore as the largest offshore centre for Renminbi (RMB) deposits and RMB trade finance and second largest for RMB foreign exchange trading, outside Greater China is well positioned with solid links between both capital markets, he explained.

Both China and Singapore are committed to meeting their sustainability goals under the Paris Agreement, and both countries have embarked on ambitious green finance agendas, noted Menon.

China issued a Green Industry Guiding Catalogue last year to harmonise differing standards for green activities, and is in the process of updating its taxonomy on green bonds to align with international practices, he said.

Singapore in turn, has launched a Green Finance Action Plan last year, built on three core pillars:

  • building the financial industry’s resilience against environmental risks;
  • developing green financial products and solutions; and
  • leveraging technology to support the development of green finance.

The recovery of both economies from the COVID-19 pandemic is a good opportunity to collaborate on promoting green finance in the region, suggested Menon. 

He stated that such endeavours are already happening where in April 2019, ICBC Singapore worked with DBS and other global banks to jointly issue its first Belt and Road green bond, sized at USD2.2 billion, and more recently issued its first green loan in Singapore, through a partnership with DBS and OCBC.

Menon further suggested the following endeavours as scope for Singaporean and Chinese financial centres to deepen its partnership in green finance:

  • Creating frameworks for green and sustainability-linked loans customised for Chinese and Singaporean small and medium-sized enterprises (SMEs).
  • Apply innovative FinTech solutions to promote green finance. Some examples include:
    • the Sustainable Digital Finance Alliance’s (SDFA) (founded by China’s Alibaba Ant Financial and UNEP) efforts to engage the FinTech community on applying digital technology to promote green finance – such as the digitisation of green bonds. 
    • MAS’ annual Global FinTech Hackcelerator is another platform through which financial institutions and FinTech firms in Shanghai and Singapore can collaborate on innovative green finance solutions.

As a first step , Menon also invited Shanghai FinTech firms and financial institutions to participate in the Singapore FinTech Festival this November.

“Strengthening the partnership between Shanghai and Singapore will bring broader benefits to our economies, and together with other financial centres such as Hong Kong, Tokyo, and Sydney, create a more vibrant financial ecosystem across Asia,” concluded Menon. 

The Asia Pacific Exchange (APEX), a commodities derivatives exchange in Singapore, is collaborating with the Shanghai International Energy Exchange (INE) to attract more international institutional investors to China’s commodity derivatives markets.

A transcript of Menon’s address at the forum is available here.

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Related: APEX ABI Singapore LSFO Futures now ready to start trading ops


Photo credit: World Economic Forum
Published: 22 June, 2020

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Winding up

Singapore: Xihe Holdings subsidiaries to be wound up voluntarily, creditors to submit claims

Creditors of Da Zhong Tankers and Xin Ying Shipping are required on or before 17 July 2026 to send in their names and addresses and particulars of their debts or claims to appointed liquidators, says notice.
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June 19, 2026

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steve pb from Pixabay

Xihe Holdings Pte Ltd subsidiaries Da Zhong Tankers Pte Ltd and Xin Ying Shipping Pte Ltd will voluntarily wind up following resolutions that were passed by written means, according to a Government Gazette notice published on Thursday (18 June).

The resolutions set out below were duly passed:

  • SPECIAL RESOLUTION – WINDING-UP

That the Company be wound up voluntarily pursuant to section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.

  • ORDINARY RESOLUTION – APPOINTMENT OF LIQUIDATORS

That Paresh Tribhovan Jotangia and Ho May Kee of Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960 be and are hereby appointed as joint and several liquidators to conduct the said winding-up and that their remuneration be fixed on the usual scale of their professional charges for the work involved.

  • SPECIAL RESOLUTION – POWERS OF LIQUIDATORS

That the liquidators of the Company be authorised to exercise any of their powers given by section 177, 144 (1) and (2) of the Insolvency, Restructuring and Dissolution Act 2018 and to distribute to members, in specie, any part of the assets of the Company.

In another notice, the liquidator of the company said creditors are required on or before 17 July 2026 to send in their names and addresses with particulars of their solicitors (if any) to liquidator Paresh Tribhovan Jotangia at Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960. 

The liquidator may require creditors or their solicitors to “come in and prove their said debts or claims at such time and place as shall be specified in such notice or in default thereof, they will be excluded from the benefit of any distribution made before such debts are proved.”

Related: Singapore: Additional Xihe Holdings subsidiaries to be placed under judicial management

 

Photo credit: steve pb from Pixabay
Published: 19 June, 2026

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Winding up

Singapore: Liquidator of Parakou Shipping issues notice of dividend

Second and final dividend to admitted creditors of Parakou Shipping is payable by 14 July, according to Government Gazette notice.

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June 19, 2026

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A notice of dividend for Parakou Shipping Pte Ltd, which is currently in voluntary liquidation, was published on the Government Gazette on Thursday (18 June). 

The following are the details of the notice:

Name of Company : Parakou Shipping Pte Ltd (In Creditors’ Voluntary Liquidation)
Address of Registered Office : c/o KordaMentha, 50 Raffles Place, 25-01 Singapore Land Tower, Singapore 048623
Amount per centum : 0.55 per centum of admitted claims (in accordance with the Order of Court HC/ORC 4175/2024)
First and Final or otherwise : Second and Final Dividend to admitted creditors (in accordance with the Order of Court HC/ORC 4175/2024)
When payable : By 14 July 2026
Where payable : c/o KordaMentha Pte Ltd, 50 Raffles Place, #25-01 Singapore Land Tower, Singapore 048623

Related: Singapore: Notice of intended dividend issued for Parakou Shipping Pte Ltd

 

Photo credit: Benjamin Child
Published: 19 June, 2026

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Alternative Fuels

MOL inks bio-LNG bunker fuel supply deals with Titan and Axpo for car carriers in Europe

Titan, part of Amsterdam-based Molgas, will continue to supply bio-LNG fuel in Northwest Europe, while Axpo will take charge of supply in the Mediterranean region.
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June 19, 2026

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MOL inks bio-LNG bunker fuel supply deals with Titan and Axpo for car carriers in Europe

Mitsui OSK Lines (MOL) on Thursday (18 July) said it has signed new supply agreements in Northern Europe and the Mediterranean region to expand the use of bio-LNG marine fuel on MOL-operated LNG-fuelled car carriers.

Titan, part of Amsterdam-based Molgas, will continue to supply bio-LNG fuel in Northwest Europe, while Axpo will take charge of supply in the Mediterranean region.

MOL said the agreement makes it possible for its company to supply bio-LNG fuel for automobile carriers in the Mediterranean region, specifically Port of Malaga and Barcelona in Spain, following the bio-LNG fuel supply agreement in Western Europe, which commenced in March last year.

The bio-LNG fuel to be supplied in this initiative has a lifecycle carbon intensity (carbon dioxide emissions per unit of energy consumption) of -15 g-CO2/MJ or less, from production through consumption. Furthermore, this bio-LNG fuel has obtained International Sustainability and Carbon Certification (ISCC-EU). 

“Through this supply agreement, MOL has established a framework that ensures a continuous and stable supply of bio-LNG fuel not only in Northern Europe but also in the Mediterranean,” the company said.

As part of the group’s efforts to adopt alternative fuels and achieve net-zero greenhouse gas (GHG) emissions, it is utilising LNG-fuelled vessels as a bridge solution to facilitate the transition to carbon-neutral fuels such as bio-LNG and synthetic LNG (e-methane).

In 2025, MOL signed a bio LNG fuel supply agreement in Northwest Europe with Titan, part of the Molgas, and MOL has continued this bio LNG fuel supply agreement with the same company in 2026 as well.

 

Photo credit: Mitsui OSK Lines
Published: 19 June, 2026

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