Ten Pao Expands Overseas with Support from DBS

Established in 1979, Ten Pao Group Holdings Limited (“Ten Pao”) has 45 years of experience in the power supply industry. The group designs and manufactures safe and reliable power supplies and smart chargers, whilst providing product customisation and production manufacturing services.

With a suite of competitive "one-stop smart power supply solutions", Ten Pao continues to innovate its new energy and energy storage products, and has now become a world-leading, reliable and innovative power supply group. Its global manufacturing sites are located from China (Huizhou of Guangdong and Dazhou of Sichuan) to Hungary, Vietnam and Mexico, while its reach extends to markets across Asia, Europe and North America.

Despite fierce market competition, Ten Pao remains an industry leader, thanks to its quality products, outstanding Research and Development (R&D) capabilities and close customer relationships. It has also managed to secure Original Equipment Manufacturer (OEM) orders from many well-known international brands in recent years.

Almost 30 years of collaboration with DBS on innovation 

Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. As one of Asia’s leading financial service groups with a presence in 19 markets, its strong and reliable regional network supports companies in the Guangdong–Hong Kong–Macau Greater Bay Area (GBA) to expand their businesses across Asia and other overseas locations. 

DBS has been one of Ten Pao’s key operating banks since their collaboration began in 1994. With the support of DBS Asia Capital, Ten Pao was listed on the main board of the Stock Exchange of Hong Kong (HKEX) in December 2015 (stock code: 1979), opening a gateway for fundraising opportunities in the GBA and expansion to international markets. 

Over the years, DBS has provided Ten Pao with various financing, capital management and digital solutions to help reduce risk, optimise cash flow and enhance the efficiency of cross-border financial activities.

Supply chain diversification needed to stabilize the production line

As globalisation prevails, any unexpected event in the world could pose a challenge to the entire production line of a company. To mitigate this risk, Ten Pao strived to create a diversified supply chain while strengthening relationships with partners to ensure production activities can be carried out unaffected. For example, DBS’ s integrated supplier finance services leveraged Ten Pao’s credit strength to support its suppliers, improving Ten Pao’s cash flow and enhancing the loyalty of their key suppliers. It also improves commercial terms without increasing costs in the supply chain, fostering stronger supplier relationships that open avenues for negotiating better terms or extending payment periods. Our services additionally aid suppliers in achieving payment certainty and cashflow forecasting, while promoting transparency in invoice status updates.

Additionally, DBS IDEAL provided automated and secure online banking services that enables Ten Pao to easily manage and monitor transactions from all over the world, bringing more convenience to cross-border financial management.

Business expansion to meet international demand

As the world is working together to fight against climate change, companies also need to pace up sustainable development and embracing innovation. With a team of more than 750 R&D staff, 45 years of industry experience and over 400 patented technologies, Ten Pao continues driving carbon reduction responsibly, and enhancing its core capabilities - the spirit of which echoes with DBS’ philosophy.

Making use of DBS’ extensive network and exceptional market insight, the bank’s experts’ team has been working closely with Ten Pao to introduce financial and funding solutions to support Ten Pao’s growth from the mainland China, Hong Kong SAR and international markets.

Mr. Benny Tse, Chief Financial Officer, Ten Pao Group Holdings Limited says, “DBS provides excellent products and solutions that give us the flexibility and confidence we need for our global expansion journey. We look forward to further collaborating with DBS to becoming a leading international one-stop smart power supplier.”

Mr. Patrick Lau, Managing Director, Head of Corporate Banking, Institutional Banking Group, DBS Hong Kong, says, “DBS was recognised as Asia’s Safest Bank from 2009 to 2023 for 15 consecutive years*, demonstrating that we are a reliable partner for our corporate customers. As one of Asia’s leading banks, DBS provides banking experience that is simple, seamless and invisible to customers around the world, supporting them to discover their ultimate business potential.”
*By Global Finance