Global political tensions continue to stop or slow down the flow of raw goods and experts are predicting that the supply chain mess will not end anytime soon. One agribusiness company was one step ahead in this situation and used what it already had to grow its business.
SGX-listed Golden Agri-Resources’ (GAR) head of investor relations, Richard Fung, said their firm’s supply chain was “barely” hit by the Ukraine-Russia war because of their shipping facilities and their partnership with Stena Bulk from Scandinavia, which has had a joint venture with GAR, Golden Agri-Stena, since 2013.
“[Golden Agri-Stena] helps us to be more independent in terms of being able to distribute our products so that when the Ukraine conflict started, we were well-prepared and saw a limited impact on our operations,” said Fung.
Aside from Stena, GAR has joint ventures with GSB Tankers and Sinar Mas LDA Maritime.
Data from its website showed that GAR shipped over 4 million metric tonnes of cargo in 2020 and delivered cargo to 45 ports worldwide.
This story is from the Issue 104 edition of Singapore Business Review.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the Issue 104 edition of Singapore Business Review.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
How TikTok powers cross-border shopping for Singapore retailers
The yellow basket feature allows viewers to purchase items directly during livestreams.
Income Insurance seeks to fill billion-dollar financing gap in climate transition
The region skimmed its carbon intensity by 2.8%, far below the 17.2% needed.
SIDS fights misconceptions in interior design with accreditation, education
The organisation is setting up a digital platform to speed up accreditation from 6 to 2 months.
IHH's proton therapy takes aim at tumours with precision and low risk
Leaving surrounding organs at risk during cancer treatment might become a thing of the past.
SingPost pivots from mail to logistics as e-commerce demand drives growth
It is banking on e-commerce to drive its logistics unit, which accounts for 69% of revenue.
Singapore needs SEA neighbours to power renewable energy transition
Experts favour Malaysia and Indonesia as renewable energy import sources.
Singapore's architecture blueprint spurs push to tackle brain drain in other sectors
Paying the country's architects just right will hopefully stop the brain drain.
Millionaires eye a piece of Singapore's rich colonial era
The country's remaining 6,500 shophouses are in high demand amongst the ultra-rich.
HDB resale portal unlikely to cut out property agents
The portal enables sellers to list their units themselves.
Factory and retail spaces shine as housing heads for worst market slump in 16 years
Its manufacturing and tourism rebound will spur demand for industrial and high-street shops.
