JZ88 - a 14"-wheel folder that has a trolley mode (can be used as a shopping trolley with the pannier). Appears to be available only in Singapore though.

http://www.youtube.com/watch?v=r7t1yzvdn48
http://www.youtube.com/watch?v=FP9YGt_onmI
http://www.youtube.com/watch?v=BzF9mon7wD0

The home page of the bike is
http://jz88.com