PCS PTE. LTD. (PCS) ANNOUNCES STRATEGIC DIVESTMENT OF ITS CONDENSATE SPLITTER ASSETS TO ASTER CHEMICALS AND ENERGY PTE. LTD. (ASTER)

Singapore, 16 June 2025 – PCS Pte. Ltd. (“PCS”) is pleased to announce the signing of an agreement with Aster Chemicals and Energy Pte. Ltd. (“Aster”) for the strategic divestment of PCS’s entire 50% beneficial interest in the Condensate Splitter Facility, which includes a Condensate Splitter Unit and associated infrastructure assets. Aster is the wholly owned subsidiary of a Chandra Asri-led joint venture with Glencore who has recently acquired Shell’s refinery and chemical assets in Bukom and Jurong Island.

The Condensate Splitter Facility located in Bukom, was commissioned in 2000 but is currently not in operation. The divestment is in line with PCS’s strategic direction to focus on its operational excellence and fully integrated and diversified value chain within the Singapore Essential Chemicals Complex on Jurong Island.

The agreement also sets the stage for potential future collaboration between PCS and Aster for the optimisation of feedstock procurement via the existing pipeline infrastructure, further strengthening the value chain and unlocking synergies across upstream and downstream petrochemical integration.

PCS remains committed to advancing its efficient and sustainable chemical production in Singapore and continued collaboration with industry partners to drive innovation and growth across the region.