An Australian company dedicated to sustainable global trading has opened a business hub in Singapore.
The TIC Group Singapore office is described as “a vital link” to all its’ Asian and Middle Eastern customers.
“Singapore is perfectly placed to be the business centre of TIC’s Asset Recovery business,” said Adam Joel, MD of TIC Reverse Logistics. “We are driving people to Singapore to review and buy stock and create new business opportunities and links throughout the region.”
TIC manages more than 15 million products from retailers across Australia every year and sources specialty products from Europe, Asia and the US. The items are surplus stock and customer returns and can be anything from electrical goods to clothes and power tools.
“TIC’s customers can now travel to Singapore to view and purchase stock for re-sale in their own countries,” said Joel.
By extending the useful life of those products TIC is helping to reduce landfill and saving greenhouse gas emissions.
“TIC Group is focused on finding markets for merchandise that may otherwise end up dumped in landfill. It’s all about connecting valuable products with interested buyers. This is acting under true circular economy principles,” he said.
“A perfectly good power drill returned by a customer to a local hardware store in Sydney may end up in the hands of a young carpenter in Fiji, giving that tool a much longer lifespan than it may have had,” Joel said.
Traders around the region have responded well to the TIC Group Singapore office as it acts as a kind of “open house” for buyers to visit and see first-hand what products the company is offering.
“The hub has had a big impact on the success of my global trading business,” said Alan Chan, the MD of Singapore company, Ausin International.
Asset Recovery partners like Ausin International are playing a vital role in prolonging the life of products on a global level.
“They are smart ‘enviropreneurs’ who take these items and repair, re-package or repurpose them for re-sale in markets throughout the region,” said Joel.