Asian Paints Exits Indonesian Operations for SGD 6.8 Million

25 Mar 2025 CW Team

Asian Paints Ltd has completed the divestment of its Indonesian operations, selling its entire stake in PT Asian Paints Indonesia (PTAPI) and PT Asian Paints Color Indonesia (PTAPCI) to a Singapore-based subsidiary of Omega Property Investments Pty Ltd, Australia, for SGD 6.8 million.

The company’s wholly-owned Singapore subsidiary, Asian Paints International Pvt Ltd (APIPL), had announced the sale agreement last month, citing sub-scale operations despite strategic efforts over the past nine years. The divestment is part of APIPL’s broader business review, focusing on scaling profitable international ventures.

With the transaction completed on March 20, 2025, PTAPI and PTAPCI are no longer subsidiaries of APIPL.

Asian Paints expects to record an approximate Rs 900 million loss from the sale in its consolidated financials, subject to final adjustments.

(Business Standard)

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