Singapore, 1 August 2025 — Aster today announces the successful completion of its acquisition of Chevron Phillips Singapore Chemicals Pte Ltd (CPSC). CPSC, a joint venture between Chevron Phillips Chemical, EDB Investments Pte Ltd, and Sumitomo Chemical Company, operates a high-density polyethylene (HDPE) manufacturing facility on Jurong Island with an annual capacity of 400 KTA. Under Aster’s ownership, the facility will be renamed Aster Polymer Solutions Pte Ltd and be fully integrated into the Aster Group. This acquisition strengthens Aster’s strategy to expand its integrated chemicals capabilities and reinforces its proposition as a leading energy and chemicals provider in the Asia Pacific region.

The addition of Aster Polymer Solutions Pte Ltd complements its refinery operations on Page 2 of 2 Bukom Island and downstream chemical assets on Jurong Island. With this expanded manufacturing base, Aster is better equipped to meet the growing demand for high-quality polyethylene products across Southeast Asia and the broader region. Group CEO of Aster, Erwin Ciputra, said “The acquisition of CPSC directly enhances our integrated manufacturing platform. With CPSC’s polymer capabilities and our existing feedstock and processing infrastructure, we can offer a broader range of solutions to customers across packaging, consumer goods, and industrial sectors. This synergy strengthens our ability to respond to evolving market needs and build a more resilient chemicals ecosystem across Asia Pacific.”

Source: Aster