Tag: Singapore

BusinessEnergyTechnology

Indonesian Billionaire’s Chandra Asri Acquires ExxonMobil’s Singapore Fuel Station Network

Indonesian energy giant Chandra Asri Pacific is expanding its Southeast Asian footprint through the acquisition of ExxonMobil’s Esso-branded fuel stations in Singapore. The deal represents a strategic move to create an integrated energy platform in the region. Completion is expected by end-2025 pending regulatory approvals.

Major Expansion in Singapore’s Fuel Retail Market

Indonesian energy conglomerate Chandra Asri Pacific, controlled by billionaire Prajogo Pangestu, has agreed to acquire ExxonMobil’s Esso-branded fuel service stations in Singapore, according to company statements. This strategic move significantly expands the company’s presence in the city-state where it already operates substantial refining and petrochemical infrastructure.

by Noah Vance
PolicyTrade

International Authorities Investigate Cambodian Real Estate Group Following US Sanctions

Authorities in Singapore and Thailand have launched investigations into Cambodian real estate conglomerate Prince Holding Group following sanctions imposed by the United States and United Kingdom. The case involves allegations of fraud and money laundering that have drawn international regulatory attention.

International Investigation Launched

Authorities in Singapore and Thailand are conducting investigations into a Cambodian real estate conglomerate after the United States and United Kingdom imposed sanctions on the company’s chairman, according to reports from regional news outlets. The coordinated international response comes amid allegations of fraud and money laundering that have drawn scrutiny from multiple jurisdictions.

by Marcus Linfield