Investment Details
About the Issuer
Intraco Limited (UEN: 196800526Z) (“Intraco“) was incorporated on 5 November 1968 and was Singapore’s trading arm to explore overseas markets and identify new sources of raw materials. It played a vital role in the growth of Singapore as a young nation, which had to rely on an export-oriented industrialisation strategy then. Intraco has been listed on the Mainboard of the Singapore Exchange Securities Trading Limited since 18 December 1972. Intraco has evolved over the years. Today Intraco, through its wholly owned subsidiaries, is engaged in the distribution and/or trading of plastic resin products, provision of passive fire protection products and services, and provision of mobile radio infrastructure management services in Singapore.
Intraco, through its 51%-owned subsidiary Taurus Point Capital Pte Ltd, has also diversified into corporate finance advisory activities including advising listed and unlisted corporates, who qualify as Accredited Investors as defined under the Securities and Futures Act 2001 of Singapore, on assets securitisation (e.g. corporate commercial papers and wines) via digital assets and tokenisation. It is a lead arranger in Singapore for short-term commercial papers issued in digital token format. In September 2022, it lead-managed the tokenisation of a portfolio of Burgundy wines where the digital wine tokens are listed for trading on a licensed digital private exchange in Singapore. Intraco is headquartered in Singapore and has presence in key emerging markets in Vietnam, Indonesia, and China.
Investment Highlights
- First floating charge over the relevant portion of the Approved Goods in respect of Purchased Debt.
- First fixed charge over the cargo and credit insurance.
- First floating charge over the receivables and payment proceeds deposited into the bank account opened in the name of the Security Trustee.
- Insurance coverage over the full issuance amount, provided by insurers headquartered in Japan and Dubai rated ‘A+’ and ‘A’ by Standard and Poor’s.
- Managed by reputable and experienced industry players.