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 {{IssueName}} edition of {{MagazineName}}.
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 {{IssueName}} edition of {{MagazineName}}.
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
Smile API Eases Loan Process
Financial institutions and lenders rely on credit worthiness to grant loans, but assessing it can be challenging with only employment and payroll information. Smile API addresses this challenge by transforming employment data into credit data.
Industry Concerns Rise As Accountant Numbers Decline
Accounting firms and universities strive to boost the sector's appeal with new roles and education programmes.
New Rule Curbs Biases Against Flexi Work
Employers who oppose remote work solely because it deviates from traditional office norms can no longer deny this option to employees and may face consequences for doing so.
Trials Target Better Management Of Treatment-Resistant Depression
Managing treatment-resistant depression (TRD) can take months to years, but Singapore is accelerating the process by embarking on trials of personalised transcranial magnetic stimulation (TMS) specifically tailored for Asian brains.
Singapore's tech powerhouses triumph at SBR Technology Excellence Awards 2024
In today's digital age, technological innovation is not just a competitive advantage; it is a key driver of progress. Companies that embrace digital disruption and leverage the power of technology are unlocking a world of opportunity, transforming industries, and shaping a more connected future.
InterContinental unveils rain refund package for guests
Guests receive a refund for a 1-night room rate if it rains for more than 2 hours during their stay.
New law weaves in work protections and retirement benefits into gig workers' safety net
Platform workers will be able to make CPF contributions into their ordinary and special accounts.
Surbana Jurong's new HQ integrates green spaces and smart technology
The headquarters features biophilic elements that enhance natural light and air circulation.
ION Orchard dives into gamification amidst experiential retail demand
The mall's in-app augmented reality game offers more than 30 rewards.
Why Singaporeans are okay with locking away over $4b of their money
Customers can only access locked’ money with a physical card or by visiting a branch.
