UOB Loan to Boost Singapore’s Poultry Industry

Singapore Poultry Hub hopes to improve its productivity by 26 percent and its capacity by 70 percent with the new smart and green factory.

United Overseas Bank (UOB) has just announced a loan of S$40 million ($29 million) to Singapore Poultry Hub, which will be used to set up the first smart and green poultry factory in the country, the bank announced in a press release on Monday.

Singapore Poultry Hub is a joint venture among poultry producers and processors including Mr. Tan Chin Long, Tong Huat Poultry Processing Factory, Kee Song Holdings, Sinmah Holdings and Tysan Food.

The smart factory will use technologies such as robotics, industrial internet of things and Industry 4.0 at the facility, which will also feature a new waste management system that converts part of the waste generated by the poultry processors into protein to be used as an ingredient in livestock feed, reducing waste by 60 tonnes per day, according to the press release.

Our support of Singapore Poultry Hub is another example of how we are helping SMEs to transform their business and to seize opportunities from trends such as Industry 4.0, Eric Tham, head of Group Commercial Banking, UOB, said. He added that the bank is working with Singapore Poultry Hub to digitalize the collection of payments and reduce the use of cash and cheques.