The Group holds an 80.2% equity stake in SP Corporation Limited (“SP Corporation”), a SGX listed company with its primary business in commodities trading and tyres distribution.
SP Corporation is listed in Singapore with primary business activities of commodities trading and tyres distribution.
The Commodities Trading Unit primarily carries out trading and marketing of a broad range of products including coal, rubber, metals and other commodities used by manufacturers in the energy, rubber and automotive industries in Asia.
It also handles the marketing and distribution of consumer products including feminine napkins, smart pants, baby diapers and adult diapers produced by established manufacturers in China and Indonesia and provides in-house packaging for supermarkets and airlines.
The Tyre Distribution Unit has exclusive distributorship in ASEAN countries (except for Indonesia and the Philippines) and a few other countries for GT Radial and Gajah Tunggal tyres from Indonesia; and GT Radial, Primewell and Runway tyres produced in China.
Its two principal suppliers, PT Gajah Tunggal Tbk and GiTi Tire Group are the leading tyre manufacturers in ASEAN and China respectively. As the distributor for these established brands, the Unit distributes a wide range of passenger car radial tyres as well as truck and bus bias and radial tyres.
It is also a player in total tyre management services for the transport sector in Singapore, offering a one-stop solution for both new and retread tyres.