OCBC and DBS Provide Green Loans for Singapore Developer

Nov 28, 2019Updated May 27, 20251 min read

Singapore developer Tiong Seng has secured S$125 million of green loans and performance-linked facilitates from OCBC and DBS, respectively.

OCBC and DBS provided around $51.4 million and $40.4 million, respectively, according to a regulatory filing.

The OCBC loan will be used exclusively on green projects with «clear environmental benefits» such as certified green buildings and projects that improve resource efficiency or generate renewable energy.

The DBS loan will include environmental performance-linked benefits including interest rate and performance bond commission discounts if certain predetermined targets are exceeded. Review and validation will be conducted by an external independent party at the end of each 1-year period.

Apart from diversifying our sources of funding, these facilities will allow us to focus on our environmental and green objectives to make a positive difference in our society, said Tiong Seng Holdings chief executive.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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