Indonesia's Chandra Asri Group is confident that its deal with global oil giant Shell to buy its refining complex in Singapore will be an accretive move, citing operational synergies and a growing demand for fuels and petrochemicals in the region.
"We firmly believe that Southeast Asia is a high-growth region requiring an affordable supply of energy and chemicals," Mr Suryandi, human resources and corporate affairs director of the group, told The Straits Times.
The group expects revenue growth to increase by five times from 2024 to 2026, aided by the acquisition of Shell Energy and Chemicals Park (SECP) spread over Pulau Bukom and Jurong Island and other planned capacity expansions in Indonesia.
"Singapore is a pre-eminent refining and chemicals hub for manufacturing and trading. The strategic location of SECP will enable greater connectivity and access to other regional players in the market," said Mr Suryandi, who goes by one name, in an e-mail response to queries following the announcement of the sale agreement on May 8.
The sale of SECP to CAPGC, a joint venture of Chandra Asri and global commodities trader Glencore, is subject to regulatory approval.
Diese Geschichte stammt aus der May 16, 2024-Ausgabe von The Straits Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der May 16, 2024-Ausgabe von The Straits Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
RealVantage breaks down walls in real estate investing for the masses
Real estate fund targets investments in middle market real estate assets
CROATIA LIFT CONFIDENCE
They beat Portugal 2-1 away in final friendly before Euro, sending warning to Spain, Italy
Jacobs wants to go faster after retaining 100m title
Home favourite Marcell Jacobs vowed to improve his time and technique ahead of the Paris Olympics after he retained his European 100m crown in Rome as Italy basked in their bountiful weekend with five golds to surge to the top of the medal table.
Workers from dorms drinking, sleeping by roadside at night
Motorists say they endanger themselves and other road users with such behaviour
US 'standing strong' with Ukraine in Russia battle, Biden vows
In a swipe at Trump, he emphasises value of US-European alliances on state visit to France
Seoul accused of modern slavery with seasonal worker scheme
Filipino workers say brokers charged steep fees, cheated them out of promised wages
Terrorist attacks dampen Chinese interest in key corridor project with Pakistan
Political instability, economic distress in the country causing serious delays, say analysts
Proposal to allow pets on China’s trains draws cheers and jeers
Some welcome prospect of trips with pets, but others raise objections over fur, faeces
Layoff worries mount as Indonesia sees flood of illegal imports
Smuggled goods compete unfairly with locally made products, economists say
Malaysia's data centre push sparks concern over power, water usage
It could strain supplies in the coming years, particularly in industrialised states: Experts
