Thailand’s SCG Chemicals, Polyplex announce new investments in Indonesia

Plastic/polymer granules

Thai companies SCG Chemicals and Polyplex Group have announced new investments in Indonesia.

SCG Chemicals forges Indonesia JV

SCG Performance Chemicals, a wholly-owned subsidiary of SCG Chemicals, has set up a joint venture with Indonesian companies to penetrate the market of high value-added products, according to a company filing to the Stock Exchange of Thailand.

Under the shareholding structure of the new joint venture firm PT Nusantara Polymer Solutions (NPS), SCG Performance holds 50 per cent, PT Buana Primatama Niaga owns 33 per cent and PT Chandra Asri Petrochemical Tbk (CAP) holds the remaining 17 per cent.

Since SCG Chemicals also holds 30 per cent in CAP, Siam Cement Group (SCG), the parent company of SCG Chemicals, holds an indirect stake of 55 per cent in NPS.

“This JV will be a step to pursue strategic growth for HVA products in ASEAN,” Roongrote Rangsiyopash, president and CEO of Siam Cement Group, said in the statement. The operations are expected to commence in the second quarter this year.

CAP is a listed petrochemical producer in Indonesia, while PT Buana Primatama Niaga is a chemical trading firm in Indonesia.

Polyplex invests $95m in Indonesia

Thai listed plastic film producer Polyplex Group has set aside $95 million to establish a new PET production plant in Indonesia.

The plant is expected to start operations in the second half of next year, the company’s managing director Amit Prakash told local media.

The plant will serve demand in the Indonesian market with an annual production output of 44 kilometric tonnes of film, 87 kilometric tonnes of chip, and 6 kilometric tonnes of metalliser and PET film.

He said the company also plans to invest $7.6 million in new production lines in Thailand and another $3.4 million in replacement metallized film production plant in the United States by June this year.

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Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.