ASIA BUSINESS OUTLOOK9AUGUSTNEWSROOMSMART TRADZT AND DKSH PROMOTE GREEN PACKAGING IN THAILANDBanma Network Technology, a Shanghai-based smart car technology supplier backed by Alibaba, has announced plans to list on the Hong Kong Stock Exchange.Alibaba, which currently holds about 45 percent of Banma, stated it will retain over 30 percent even after the potential IPO. While the filing does not guarantee a listing, the move reflects Banma's evolution into a leading player in the connected vehicle ecosystem. Founded in 2015, Banma develops smart cockpit and connected car solutions, with backing from SAIC Motor, SDIC Investment Management, and Yunfeng Capital. The company first gained recognition in 2016 with the Roewe RX5, the world's first mass-produced internet car, and has since powered multiple smart vehicle platforms.Banma's potential listing comes at a time when the connected vehicle services market is projected to surge from $21 billion in 2024 to $57 billion by 2034. In China, over-the-air (OTA) technology installations in passenger vehicles jumped 37.9 percent year-on-year in 2024, with forecasts suggesting adoption will exceed 90 percent by 2030. This trend positions Banma's core solutions at the heart of industry-wide transformation.Currently ranked 17th among 143 competitors in the connected car platform space with a $1 billion valuation, Banma has demonstrated strong funding capabilities, including a $460 million raise in 2021. With nearly 11 years of operational experience and close ties to Alibaba and SAIC Motor, Banma offers public investors exposure to a mature, scalable smart mobility platform entering a phase of mass adoption. DKSH Business Unit Healthcare has made a significant breakthrough in enabling sustainable healthcare supply chains by measuring Scope 3 carbon emissions in Thailand successfully.This was facilitated through a partnership with UOB FinLab's GreenTech Accelerator and sustainability technology provider Smart Tradzt based in Singapore.The program also launched a reusable cold-chain package, B-Box, which was shown to have substantial environmental value.The reusable B-40 box had emissions of approximately 27.19 kg COe within five years, against about 5.03 kg for disposable Styrofoam equivalents, marking its green benefit.This initiative underscores Singapore's leadership in technological innovation and Thailand's commitment to sustainable healthcare industry growthThe initiative employed Smart Tradzt's online platform to carry out an extensive Life Cycle Analysis (LCA), keeping global standards like the GHG Protocol and PACT Methodology in mind. Regardless of operational difficulties such as low awareness on the part of small suppliers and end-user disposal data gaps, the study gave useful insight into the mitigation of emissions."Our partnership reflects our dedication to transparency and sustainability. Monitoring Scope 3 emissions allows us to comply with regulatory requirements and provides concrete data for our clients' sustainability reporting." stated Bijay Singh, Global Head of DKSH Healthcare.Shannon Lung, UOB FinLab's Head, highlighted strategic collaborations as key to fast-tracking sustainability initiatives. "This partnership showcases the power of focused support in enabling businesses to drive measurable outcomes and raise the bar for environmental responsibility," she said.In the future, DKSH will roll out its reusable packaging programs across other markets, using the transparency achieved to build greater stakeholder trust and comply with changing regulatory expectations. ALIBABA-BACKED BANMA PLANS HONG KONG STOCK LISTINGKey Highlights· Banma, backed by Alibaba and SAIC, plans Hong Kong IPO· Connected vehicle market projected to hit $57B by 2034· Banma ranks 17th globally with $1B valuation and 11 years' experience
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