Japanese trading house Itochu Corp to work

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  • 14 Mar 2019 12:00 AM
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Japan Trading House Itochu Partners With Singapore's Halcyon to Join Sustainable Rubber Trade

Japanese trading house Itochu Corp. will aim to promote sustainable trade in natural rubber under a capital tie-up with a Singaporean market platform operator. HeveaConnect is a digital marketplace operation established by Singapore’s global natural rubber firm Halcyon Agri Corp. last August. The online marketplace operator issues HeveaPro certifications — standards based on the screening of more than 1,200 items such as quality assurance, environment and health and safety, Itochu said in a recent statement. Itochu acquired a 19 percent stake in HeveaConnect Pte. Ltd. for $2.2 million earlier this month through private share placement, Itochu spokesman Kenji Katsumoto said Wednesday. HeveaConnect’s service is currently being operated on a trial basis and will be fully launched next month, Katsumoto added. PT. Aneka Bumi Pratama, Itochu’s wholly-owned natural rubber processer in Indonesia, will obtain HeveaPro certification and join the platform, the statement said.

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Japan Times

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