DBS Hong Kong approves first sustainability-linked revolving trade facility for MICA Group | 繁體

Hong Kong.29 Sep 2022.3 min read
Hong Kong, 29 Sep 2022 - DBS Bank Ltd., Hong Kong Branch (“DBS Hong Kong”) is pleased to announce the signing of the first sustainability-linked revolving trade facility for the Chinese iron ore, steel and coal trading company MICA Group, which consists of Heilong International Limited (“Heilong”) and Meika (Hong Kong) Limited (“Meika”).

Heilong and Meika are both principally engaged in the trading of iron ore, steel and coal. Incorporated in Hong Kong in 2013, Heilong aims to source iron ore directly from overseas mines. Meika was established in 2014 to serve as the second trading platform to MICA Group in Hong Kong.

Carrying a six-month tenor, DBS Hong Kong’s major sustainability-linked trade facility aims to encourage MICA Group to trade with responsible suppliers who are members of the International Council on Mining and Metals (“ICMM”). ICMM pledges to work for a safe, just and sustainable world that is enabled by responsibly produced minerals and metals.

Mr Mi Run Tao, President of MICA Group stated: “Achieving ESG targets is important for the long-term sustainable success of our business and of the mining sector as a whole. We are glad to partner with DBS Hong Kong to build on our relationships with responsible suppliers and bolster our commitments to safer, greener and more accountable business practices.”

Mr Alex Cheung, Managing Director and Head of Institutional Banking Group of DBS Hong Kong, remarked, “DBS Hong Kong is proud to drive green development across every sector through sustainability-linked financing. We are glad to play our part in supporting MICA Group in pursuing its responsible procurement agenda.”


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 Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. 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 and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 14 consecutive years from 2009 to 2022.

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, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.