Pandemic shakes up Singapore conglomerates
SINGAPORE conglomerates have had enough of being "cheap" and under-appreciated and the pandemic-led slump seemed a perfect reason to do something about it. To get out of the funk and grow shareholders' money more quickly, diversified firms are chasing unique angles and rejigging portfolios.
Just last week, Olam International, an agri-commodities merchandiser, producer and trader of everything from edible nuts, spices, cocoa and coffee to dairy and grains with farms and supply chains in 60 countries, disclosed details on a plan to shed its heft and carve out two distinct units from its bulging portfolio.
It plans to list its food ingredients unit Olam Food Ingredients (OFI) in just over a year from now, followed by the flotation of Olam Global Agri (OGA), a global food, feed and fibre agri-business, a year later.
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