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March 15, 2021 | By Anita Gabriel, The Business Times
Olam International will be breaking up into two (relatively) bite-sized entities. The rejig of Olam's humongous portfolio and "full-fledged" spin-off for the food ingredient and agri-business assets mark the firm's most impactful endeavour to woo the market to raise growth capital.
Olam's group chief executive Sunny Verghese's enthusiasm is hard to miss even with his all-too-familiar measured and reflective despatch. "It's an exciting opportunity to create world-class businesses that will be true market leaders," he told The Business Times in an interview.
March 11, 2021 | By Angela Tan, the Business Times
The global trade imbalance due to Covid-19 has resulted in a mismatch between where sea containers are and where they need to be, causing supply-chain bottlenecks.
PIL executive chairman and managing director S S Teo, who is also Co-Chairman of ASEACC said as container liners struggle to meet demand for containers on the US and European routes, there is a knock-on effect on other trade lanes when containers are diverted. Most in the industry are expecting the container shortages in Japan, South Korea, India and South-East Asia to last until mid-2021.
May 13, 2020 | By Vivienne Tay, the Business Times
Wilmar shares were trading S$0.15 or 3.9 per cent higher at S$3.97 as at the mid-day break on Wednesday.
As China - which Wilmar derives nearly 60 per cent of its revenue from - starts to open up following the Covid-19 lockdowns, volume momentum should pick up, said analyst Thilan Wickramasinghe in a research note dated Tuesday.
PIL donates 1000 surgical masks to Kenya Ports Authority
Apr 16, 2020
In the depths of the ongoing global pandemic, Pacific International Lines (PTE) Ltd has donated 1000 surgical masks to Kenya Ports Authority (KPA) to keep staff safe as they battle against the spread of COVID-19 at the Port of Mombasa.
Lessons from Ebola help Olam respond to coronavirus
Apr 7, 2020 | By David Whitehouse, theafricareport
The outbreak of Ebola in west Africa in 2014-16 has left food and agri-business company Olam ready to respond quickly to the coronavirus pandemic, Ventkatamani Srivathsan, CEO for Africa and the Middle East, told The Africa Report.
Wilmar sets up 4 new subsidiaries and acquires 1 firm
Mar 25, 2020 | By Claudia Tan, The Business Times
AGRIBUSINESS company Wilmar International on Wednesday announced the establishment of four new subsidiaries in the Solomon Islands, China, Myanmar and Sri Lanka, as well as an acquisition of one of its subsidiaries in China.
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PIL subsidiary Singamas works with local Chinese medical equipment company to build a mobile Covid-19 testing laboratory
Mar 5, 2020 | From Singamas 2019 Annual Results Announcement
To fight against coronavirus outbreak, Singamas cooperated with a Chinese medical equipment company to build the first movable nucleic acid detection laboratory container in China which has been delivered to Wuhan. Singamas is now developing the first movable CT Scan container. Its success will enable Singamas to provide containerised medical facilities, especially to the mobile cabin hospital.
AP Moller Capital to invest in West African port infrastructure
Jan 29, 2020 | By Ship Technology
AP Moller Capital will provide significant investment in a West African ports and logistics platform via the Africa Infrastructure Fund. The platform will be managed by ARISE Ports & Logistics. AP Moller will hold a 43% stake in the platform, while Olam and AFC will hold 31% and 26% stakes respectively.
Keppel Corp names 3 new independent directors to board
Oct 18, 2019 | By Marissa Lee, The Business Times
With effect from Jan 2, 2020, the Keppel board will comprise a total of 11 directors, of whom 10 are independent directors.
Teo Siong Seng, 64, the executive chairman and managing director of Pacific International Lines (PIL), will join the board from Nov 1.
PIL is one of the largest shipowners and operators in South-east Asia with a focus on Asia-Africa and the Middle East, Keppel said.
At 100 years old, the world's oldest billionaire still goes to the office every day
Dec 4, 2018 | By Karen Gilchrist, CNBC Make It
At 100 years old, the world’s oldest billionaire would be forgiven for taking it easy and enjoying the riches of his eight-decade career.
But for Chang Yun Chung, founder of Pacific International Lines (PIL), staying at home isn’t an option. Despite handing over the role of executive chairman to his son, Teo Siong Seng, earlier this year, the centenarian Singaporean insists on going into the office every day.
New investment and advisory firm to focus on intra-Africa trade
Nov 18, 2018 | By Sanne Wass, Global Trade Review
Two business leaders have launched a new investment and advisory firm focusing on equity investments and trade and corporate finance in Africa.
Africa-Asia economic relations: Let the private sector shine
Sep 25, 2018 | By Kelvin Tan, theafricareport
For almost two decades, Asian governments have been very vocal in their desire to get involved in the African continent. Bilateral forums, conferences, meetings and seminars happen more often than one can count, and usually result in numerous announcements – ranging from memoranda of understanding (MoU) to billions of financial commitments.
Singaporean companies eyeing niche opportunities in Africa
Jun 16, 2016 | By Jaco Maritz
Singapore’s government is actively encouraging its businesses to explore commercial opportunities in Africa, a region currently accounting for only about 1% of its total global trade.