SINGAPORE, Jan. 28, 2024 (Globe Newswire) — Sidra Capital, a leading Islamic compliant asset management company regulated by the Saudi Arabian Capital Markets Authority, is the first Singapore-based variable capital company to We are excited to announce the launch. Sidra Asia Opportunity Investment I VCC (VCC).
VCC was launched in November 2023 with an investment strategy focused on facilitating cross-border commodity supply chains through fully funded irrevocable Letters of Credit (LC). VCC is high for solid fuels produced by selected Indonesian producers, which are highly valued for the intrinsic quality of the product and the reliability of the producers in delivering the expected quantity and quality to the purchaser. We specifically target demand.
For added security, the underlying transactions are secured end-to-end by USD-denominated LCs issued or confirmed by banks with strong credit ratings, eliminating foreign exchange and payment risks. . Additionally, the trades are not speculative and are structured to buy and sell products in succession, so investors are not exposed to inventory or price risk.
Hani Basman, Chairman of Sidra Capital, expressed his delight at the launch of VCC and said: Singapore’s strong legal framework, home to major global financial institutions and extensive double taxation agreements with various jurisdictions ultimately benefits fund investors. ”
Additionally, Mr Baosman expressed Sidra Capital’s support for the Singapore government’s ambition to become a global Islamic finance hub. The Shariah-compliant Singapore VCC is a unique investment proposition and a welcome addition to the local and regional asset management scene. Sidra Capital is proud of its contribution to the development of Singapore’s Islamic finance industry.
VCC is managed by Sidra Capital Pte Ltd, a wholly owned subsidiary of Sidra Capital, which operates as a registered fund management company licensed by the Monetary Authority of Singapore.
Sidra Capital has established itself as a pioneer in Islamic private finance in Saudi Arabia. Its portfolio includes a range of Sharia-compliant private financial investment solutions, including the highly regarded Sidra Income Fund Series and Sidra Ancil Global Structured Trade Investment Fund.
