ABN AMRO has launched a dedicated structured inventory product desk in Singapore to support global and regional commodities clients under its energy, commodities and transport business.

SIP transactions will be handled via Icestar, the ABN AMRO investment vehicle which provides ownership-based commodities financing, where the bank plays an intermediary role by taking legal ownership of physical commodities for a pre-defined period. This system enables clients to better manage their working capital and access new sources of liquidity, the bank said.

The bank has existing SIP services via Icestar in other parts of Asia, Europe and the US.

The new Singapore desk will be run by Chuey Peng Ng, executive director for commodities Singapore, and Julien Moreau-Pernet, head of structured inventory product Asia. Both report report to Jacqueline Chang, managing director for commodities, Singapore, the bank said.