First International Ginseng Commodity Exchange Launches in Singapore

30 May 2018 – The First global ginseng spot commodity electronic platform, Singapore Global Ginseng Trading Exchange (SGGEx) presented an inaugural opening ceremony in Singapore on 30th May 2018.

SGGEx held an inaugural opening ceremony and featured the theme of “Ginseng Routes Around the Globe”. In the evening, the opening dinner banquet attracted a total more than 160 guests including Singapore’s political, academic and business leaders, as well as well-known experts, scholars, business elites and social elites from various countries and regions around the world. It made the opening ceremony an unprecedented and has achieved enormous success.

In order to make the banquet and the ginseng culture closely linked to the guests and for them to feel the unique charm of “King of Herbs” ginseng, the Exchange also specially invited top Chinese culinary masters to administer ginseng gourmet food, creating a native of Singapore and also being a precedent for Singapore to host a ginseng feast.

At the same time, the banquet site also set up the first wild ginseng collection charity auction in Singapore’s history. All the donations from the charity auction have been given to charity. We came to know that this event was strongly supported by the Singapore Kowloon Club and 365 Cancer Prevention Society. Elite Natural health limited and Singapore Global Equity Exchange Private Limited took part in co-organizing the event.

In addition, the SGGEx specially invited the well-known Singaporean host, Danny Yeo to fully host the ceremony. The top elites from political circles, academic circles and business experts who attended this ceremony including the former Minister for National Development Mr. Mah Bow Tan, the President Emeritus of Nanyang Technological University Mr. Su Guaning, Chairman of Singapore Fong Yeo Ginseng Group Mr. Wong Xuan Zhong, President of Singapore Kowloon Club Mr. Philip Chan, Managing Director of Temasek Holdings Private Limited and former Member of Parliament Mr. Seng Han Tong, Singapore Chinese Physicians’ Association President, Mr.Teo Eng Kiat, Deputy Chairman of Nanyang Technological University Ms. Jessica Tan, President of Singapore Tian Fu Association Mr. Du Zhi Qiang, Vice President of Jiangsu Association (Singapore) Mr. Zhou Zhao Cheng, GRABENER MINTING Consultant Mr. Alan Yeo, NTU Singapore professor Mr. Sai Fan Pei, Chairman of Global Yellow Pages Pte Ltd Mr. Ng Tiong Gee, Singapore 365 Cancer Prevention Society, Mr. James Chia, Dato’ Dr Choo Yeow Ming, Chairman of Elite Natural Health Limited Mr. Dennis Mah, Chairman of Singapore Global Equity Exchange Private Limited Mr. Zheng Bao Qing, Chairman of Hong Kong SEC-Lab International Pte Ltd Mr. Gan Jian, and NTU Singapore Professor Mr. Wu Wei. They wish the Executive Director of SGGEx, Mr. Kevin Yin and the management that the business would achieve a remarkable success. In addition, they shared the friendly experience during the banquet.

During the opening ceremony, at the invitation of the organizer, the SGGEx Executive Director, Mr. Kevin Yin, Mr. Mah Bow Tan, Mr. Su Guaning, Mr Wang Xuanzhong, Mr. Philip Chan, Mr. Teo Eng Kiat, Mr. Alan Yeo and Mr. Sai Fan Pei co-chaired the opening ceremony and cordially took photos with more than 10 strategic partner’s representatives. With the warm applause of the audience, SGGEx officially launched under the witness of all the guests.

In order to support charity and public welfare undertakings, the ginseng has played a major role in the field of Chinese medicine and anti-cancer applications. The starting point of the company’s initiation has set an example for the development of public welfare undertakings. The Exchange hosted 11 collections of wild ginseng for charity auctions at this grand event and received enthusiastic response and support from over 160 guests. It is reported that this auction activity has progressed smoothly and the auction has been vigorously promoted. All the wild ginsengs participating in the charity auction have been successfully shot and received a total donation of S,000.

After the auction ended, Mr. Kevin Yin specially invited Mr. Su Guaning to jointly donate to the 365 Cancer Prevention Society and Singapore College of Traditional Chinese Medicine on behalf of the Exchange, and to return the society in good and righteous manners, taking practical action at the high point of charity at the same time sending blessings to the Exchange. Subsequently, Mr. Kevin Yin also specially invited VIP guests to award the “Outstanding Contribution Award”, “Special Compassion Award” and “Enthusiastic Service Award” to charity buyers to affirm and thank them for their love and actions in support of charity.

In the evening, the officiating guest, Mr. Mah Bow Tan, the special guest, Mr. Philip Chan and the organizer, Mr. Kevin Yin discussed how to promote Ginseng spot commodity electronic trading platform and create new momentum for the economic growth in Singapore, and how it leveraged the hub of the Lion City in the global trade field to create more business opportunities and expand cross-border cooperation.

Mr. Mah Bow Tan fully praised the SGGEx’s spirit of exploration and innovation in his speech. He pointed out that as the first global ginseng spot electronic trading platform rooted in Singapore, SGGEx will greatly promote the sound development and exchange and cooperation in the Southeast Asian ginseng health market with Singapore as the axis and enhance Singapore’s global competitiveness and influence in the field of industrial trade. In the future, with the gradual development and sound operation of the Exchange’s business, we believe that we will provide guidance for commercial innovation and integration in more areas in Singapore. At the same time, he hoped that the Exchange would continue to broaden the dimensions and depth of innovation on the track of rapid development and make greater contributions to Singapore’s commercial economic development.

Subsequently, Mr. Philip Chan expressed in his speech on behalf of Singapore Kowloon Club that he welcomed the entry of the Exchange and sent a blessing on the official departure of its business. He stated that the Kowloon Club has extensive resources and abundant strength in Singapore and its neighboring countries and regions. The member units have extremely rich operational experience in various commercial fields. He hoped that both sides will use this inaugural opening dinner as their starting point, continue to strengthen exchange and cooperation, and actively explore the possibility of commercial innovation, business development, and cross-border integration, and jointly build a sound, stable, and win-win business platform to bring more and more opportunities for development for more business partners, and set an example for Singapore’s economic prosperity.

Mr. Kevin Yin, Executive Director of Singapore Global Ginseng Exchange, expressed his gratitude to all the guests present at the banquet and briefed them on the relevant knowledge of ginseng and the operating model and vision of the Exchange. The content mentioned that ginseng (especially “wild ginseng”) is known as the “King of Herbs” because its miraculous medicinal nourishing effect spanned thousands of years and has been passed down to the present day. Wild ginseng is extremely rare and has a high collection and investment value. In the view of the extraordinary value of the wild ginseng and the increasingly extensive market demand, SGGEx uses an advanced electronic trading technology to break through geographical restrictions and expand the traditional offline transactions to the online market. This will not only speed up trade efficiency, reduce transaction costs, but will also make effective contributions to the sound development of the industry.

Meanwhile, he stated that SGGEx will actively united all parties concerned and strive to build healthy and sustainable business ecosystem, which consists of ginseng commodity supply chain management, quality inspection, commodity data collection and analytics, packaging standard, third-party warehousing and logistics, commodity insurance, bank settlement and physical delivery. This spot commodity trading platform not only provides business opportunities for business partners across various industries, but also boosts business innovation and Singapore’s economic status in international trade.

This ginseng feast was held throughout the entire event, being Singapore’s first ever ginseng-themed and highest specification banquet. It is reported that the highly valued ginseng in this banquet was selected by the founder of the Chinese ginseng feast and top-ranked culinary masters as ingredients for cooking.

The main courses in the dinner, such as “Palace secret ginseng”, “Ginseng lotus hashima” and “Ginseng nourishing chicken soup” were cooked using up to 30 years old ginsengs which were priced at about S0,000 in Singapore market. All the dishes prepared not only looked artistic but were extremely delicious. It is a feast for the perfect blend of culture and cuisine.

During the banquet, many guests had sung praises of the ginseng feast, hoping that the it would enter Singapore soon and be enjoyed by more diners. In the evening, the inaugural opening ceremony of Singapore Global Ginseng Exchange successfully concluded with a joyous laughter.