This Father-Son Team Is Rewriting the Rules of Commodities Trading

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This Father-Son Team Is Rewriting the Rules of Commodities Trading

By Jasmine Ng  and Yoolim Lee
February 28, 2018, 5:00 AM GMT+8

Even in Asia, where business is often a family affair, Singapore-based tech startup SourceSage is unusual.

Co-founder Jianmin Sim, 29, has all the hallmarks of the young entrepreneur -- a former machine-learning researcher with a Masters in engineering from Oxford University. His partner, though, is his father, 63-year-old John Sim, who has three decades of experience buying and selling commodities.

Together, they are trying to shake up one of the world’s more opaque trading businesses, starting with the $19 billion oleochemicals industry, which turns liquids derived from oil palms into ingredients for detergents, soaps and personal-care products.

The startup, launched in 2015, provides market information and connects buyers and sellers of raw materials. The son plots strategy as chief executive officer. The father develops the firm’s brokerage and trading businesses. It’s already turning a profit, according to Jian, and counts Cargill Inc. and Wilmar International Ltd. among 10,000 clients in 102 countries.

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Specuvestor: Asset - Business - Structure.

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