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)

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..