EDITION
  • English
  • 中文
  • Bahasa
  • eCommerce
Thursday, May 26, 2022
uLearnMoney Subscription Events
No Result
View All Result
Money Compass

Media and partner organizations:

cmc bmc ulearnmoney mylife mcm
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
Subscription
Newsletter
Money Compass
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
No Result
View All Result
中文 Bahasa eCommerce
Money Compass

New World Development Joins Forces with DBS Hong Kong to Pioneer Hong Kong’s First Interest Rate Swap Linked to the United Nations Sustainable Development Goals

by
November 30, 2020
in PR Newswire
Share on FacebookShare on WhatsApp

HONG KONG, Nov. 30, 2020 /PRNewswire/ — New World Development Company Limited (NWD) and DBS Hong Kong (DBS) have completed Hong Kong’s first-ever interest rate swap linked to the United Nations Sustainable Development Goals (UNSDGs), thereby taking a significant step on the journey to sustainability. This derivative transaction is designed to provide a hedge against the interest rate risk related to NWD’s 5-year HK$1 billion sustainability-linked loan from DBS, which closed in November 2019.

(From left to right) Ellie Tang, Head of Sustainability of New World Development, Edward Lau, Deputy Chief Financial Officer of New World Development, Alex Cheung, Managing Director and Head of Institutional Banking Group of DBS Hong Kong and Louisa Chau, Managing Director, Hong Kong Conglomerates, Institutional Banking Group of DBS Hong Kong, announced the completion of Hong Kong’s first-ever interest rate swap linked to the United Nations Sustainable Development Goals (UNSDGs).
(From left to right) Ellie Tang, Head of Sustainability of New World Development, Edward Lau, Deputy Chief Financial Officer of New World Development, Alex Cheung, Managing Director and Head of Institutional Banking Group of DBS Hong Kong and Louisa Chau, Managing Director, Hong Kong Conglomerates, Institutional Banking Group of DBS Hong Kong, announced the completion of Hong Kong’s first-ever interest rate swap linked to the United Nations Sustainable Development Goals (UNSDGs).

Under this innovative solution, NWD is eligible to receive sponsorship from DBS to support social innovation projects, if they successfully generate at least eight business-to-business integration opportunities that contribute to the UNSDGs adopted by the New World Sustainability Vision 2030. NWD’s social innovation initiatives include Impact Kommons, a UNSDGs-focused startup accelerator and business-integration programme, of which DBS is a social impact partner.

Adrian Cheng, Executive Vice-Chairman and Chief Executive Officer of New World Development, said: "New World Group is committed to connecting business success with social progress and environmental solutions by promoting the United Nations Sustainable Development Goals. We also believe in the power of partnerships to accelerate change, and that is why we have enlisted the support of DBS. With the winning combination of our resources and their expertise in financial innovation, we are joining forces to create shared value for the long-term well-being of society."

Alex Cheung, Managing Director and Head of the Institutional Banking Group of DBS Hong Kong, said: "At DBS, we believe we have a role to play in promoting sustainable development. This ground-breaking transaction demonstrates true leadership in accelerating climate action, and reaffirms our commitment to work with NWD and other like-minded partners to build a sustainable future through innovation and collaboration."

The UNSDGs are a call for action to address a range of social needs, including education, health, social protection and job opportunities, while at the same time tackling climate change and environmental protection. The UNSDGs have been adopted by NWD to standardise its overall sustainability approach across its portfolio of businesses, including practices in property development and management, and to establish energy and carbon-related targets. Both NWD and DBS are also signatories to the United Nations Global Compact and are committed to driving progress towards the UNSDGs in ways that are meaningful to their businesses. For DBS, this includes acting on climate change by partnering with like-minded clients, like NWD, in adopting agreed practices for responsible financing.

About DBS

DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named "World’s Best Bank" by Euromoney, "Global Bank of the Year" by The Banker and "Best Bank in the World" by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World’s Best Digital Bank" by Euromoney. In addition, DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 12 consecutive years from 2009 to 2020.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 29,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.

About New World Development

Founded in 1970, New World Development Company Limited ("The Group", Hong Kong stock code: 00017) was publicly listed in Hong Kong in 1972 and is a constituent stock of the Hong Kong Hang Seng Index. A premium brand infused with a unique personality best defined by The Artisanal Movement, New World Group’s core business areas include investment in property and property development, and investment in and/or operation of roads, commercial aircraft leasing, construction, insurance, hotels and other strategic businesses. Its Greater China operations, especially in the Greater Bay Area, had a total asset value of approximately HK$600.2 billion as at 30 June 2020. The Group’s two listed companies are NWS Holdings Limited (61%), and New World Department Store China Limited (75%). New World China Land Limited is wholly owned by the Group.

ShareSendShareSendTweetShare
Previous Post

Total Solar DG to Build One of Southeast Asia’s Largest Renewable Energy Microgrids in Cambodia

Next Post

How SMEs Can Adapt and Manage Cash Flow During COVID-19

Related Posts

News

“Firsts in Hong Kong”: Industry leaders highlight unique attractions at 11 SKIES for boosting Hong Kong’s post-pandemic economy

26 May 2022
News

Home match: e.GO Mobile celebrates the launch of the e.wave X at the Micro Factory in Aachen, Germany

26 May 2022
News

MGBF HIGHLIGHTS BUSINESS OPPORTUNITIES IN CRITICAL VALUE CHAINS

26 May 2022

Discussion about this post

MOST POPULAR

  • My Ofis: The First Online Grocery Shopping Experience via TV Series

    0 shares
    Share 0 Tweet 0
  • AMAZFIT LAUNCHES THE T-REX 2: A NEW RUGGED OUTDOOR GPS SMARTWATCH BUILT TO BRAVE THE OUTDOORS

    0 shares
    Share 0 Tweet 0
  • Enabling Cloud Connectivity to All MCUs and MPUs, Microchip Launches a Range of Embedded IoT Solutions for Rapid Prototyping

    0 shares
    Share 0 Tweet 0
  • Smile And Make Your Mark With BOH On International Tea Day 2022

    0 shares
    Share 0 Tweet 0
  • Annature outperforms forecasts with 500% growth, adds ID Verification to its eSigning platform to accelerate future success

    0 shares
    Share 0 Tweet 0

MEMBERSHIP SUBSCRIPTION

Subscribe Now

Sign Up for Our Free Newsletters

Stay up-to-date with the latest personal wealth-related articles, breaking financial market news, and more.

Follow us on Social Media

News
Special Feature
Compass
Money Tube
Smart Lifestyle
Corporate Profile
Advertise
Subscriptions
Career
Contact Us
eLearning
Events
Privacy Policy
Terms of Use
Strategic Partners

Copyright © . Money Compass. All Rights Reserved.

Design and Development by Ant Internet Sdn Bhd

No Result
View All Result
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE

© 2020 Money Compass

Career

SUBSCRIBE FREE NEWSLETTER