Singapore Technologies participates in Internet services from SEB
Singapore Technologies participates in Internet services from SEB Singapore Technologies Pte Ltd has started to use Trading Station, the Internet on-line trading vehicle provided by SEB (Skandinaviska Enskilda Banken) , in their treasury area. The rationale is to improve efficiency with straight through electronic processing and improved accessibility to the financial markets and information. Singapore Technologies is planning to increasingly use Internet based solutions in its finance and treasury operations. SEB and Singapore Technologies will continue to discuss how to add functionality and to make further use of Internet technology in the group's financial and risk management operation. Trading Station is a market place for financial trading and information on the net for companies who will manage their own financial dealings in an efficient way. Trading Station can carry out currency, fixed income and futures trading all via the Internet. It also gives real-time access to foreign exchange rates, interest rates, equity indices, commodity prices, market information and other news. Trading Station is used by 1000 companies with more than 2000 users on a global basis. SEB launched Trading Station in 1997. Trading Station was launched early in 2000 in Asia and is today used by 15 companies with more than 35 users. SEB is planning to launch Trading Station in Hong Kong and Tokyo during the autumn. The Singapore Technologies Group (ST) is a leading technology-based multinational conglomerate headquarted in Singapore. Its core business groups are Engineering, Technology, Infrastructure & Logistics, Property and Financial Services. ST has 40 000 employees and for 1999 a gross group turnover of approximately USD 6 billion. The estimated market value of the group's companies was at the end of 1999 close to 24 billion USD. The SEB Group is a financial institution focused on e-banking, savings and growth companies. SEB is one of the largest financial groups in Scandinavia, with SEK 918 billion in funds under management and total assets of SEK 1 140 billion (30 June, 2000). The Group has approximately 20,000 employees and is represented in some 20 countries around the world. SEB has today approximately 630 retail and private banking branches, mainly in Sweden, Germany and the Baltic region. For further information, please contact: William Paus, Head of Trading & Capital Markets, Asia, +65 3570 863 Boo Ehlin, Press Manager, +46 8 763 85 77, +46 70 763 85 77 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/09/07/20000907BIT00360/bit0001.doc http://www.bit.se/bitonline/2000/09/07/20000907BIT00360/bit0002.pdf