Lotte Chemical Titan secures $3 billion ethylene supply deal in Indonesia
Lotte Chemical Indonesia (LCI), which recently commissioned a cracker in Indonesia's Banten province, will sell 350,000 tonnes of ethylene annually to Lotte Chemical Indonesia Nusantara (LCTN) beginning in September.
Lotte Chemical Titan indirectly controls a 92.5 per cent stake in Lotte Chemical Titan Nusantara.
Lotte Chemical Corp's large-scale petrochemical plant, LCI, in Banten province, is 51 per cent owned by Lotte Chemical Titan.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
26 minutes ago
- CNA
Asia First - Mon 4 Aug 2025
02:24:40 Min From the opening bell across markets in Southeast Asia and China, to the biggest business interviews and top financial stories, tune in to Asia First to kick-start your business day.
CNA
26 minutes ago
- CNA
Philippine annual inflation at 0.9% in July
MANILA :Philippine annual inflation moderated to 0.9 per cent in July from the previous month's 1.4 per cent rate, helped by a slower rise in utility costs, the statistics agency said on Tuesday. The headline rate was the lowest reading since October 2019. Economists in a Reuters poll had expected an annual inflation rate of 1.1 per cent, within the central bank's forecast range of 0.5 per cent to 1.3 per cent for the month. The annual core inflation rate, which strips out volatile food and energy prices, was 2.3 per cent in July.
CNA
26 minutes ago
- CNA
Spotting red flags, taking swift action: Inside DBS' fight against scams
When DBS or POSB customers spot unauthorised transactions in their bank statements, their calls often reach Mr Muhammad Saifuddin, a customer relations and scam management lead at DBS Bank. 'Many victims cling to false hope, believing fraudsters' promises of profitable investments or job payments,' said Mr Muhammad. In 2024, the Singapore Police Force reported 852 love scams, which resulted in S$27.6 million lost. Separately, job and investment scams led to the largest financial losses, amounting to more than S$476 million. Behind these stark figures are individuals whose hard-earned savings were wiped out in an instant. To counter increasingly sophisticated scams, DBS and POSB have implemented a rapid response system that is activated as soon as a customer reports suspicious activity. 'Our teams are trained to act within minutes,' said Mr Muhammad. 'When someone calls our scam hotline, we can immediately lock their accounts and prevent further losses.' Staff like Ms Lee Bee Bee, assistant service manager at the POSB branch in Yishun West, are often the last line of defence against scams. Last year, Ms Lee stopped a customer from falling for a scam. 'The customer believed he was about to receive S$100,000 from an overseas friend,' she said. 'The scammer – posing as a CEO – claimed their own bank account had been frozen, and asked the customer to transfer money to help activate a SIM card.' The request was part of a familiar pattern: Fraudsters often use fake emergencies to build trust and prompt urgent action. Ms Lee persuaded the customer not to proceed with the transfer, pointing out that suspicious web links, requests involving SIM cards and demands for gift card purchases are all common scam tactics. 'When a customer insists on making an urgent overseas transfer, especially for so-called medical bills or to receive valuable items like gold bars, that's an immediate red flag,' said Ms Lee. The warning signs can look different depending on who scammers are targeting – and they are tailoring their tactics to exploit victims of all ages. Job scams target teenagers who are new to the workforce, and individuals aged 20 to 49, who may be looking for a side hustle or seeking extra income. These schemes usually begin on social media, with scammers promising easy money for simple tasks. Telltale signs include payments made by individuals rather than companies, initial contact via social media or messaging apps, and early small payouts designed to build trust before scammers demand larger sums of money. Older Singaporeans are especially vulnerable to love scams, which rely on emotional manipulation. Open conversations with elderly relatives about their online relationships can help family members spot red flags early and allow families to step in before it's too late. WHAT TO DO IF YOU SUSPECT A SCAM If you spot unauthorised transactions, contact the bank immediately. DBS and POSB will activate the Safety Switch, which immediately locks your account and suspends access to online and mobile banking, DBS PayLah!, as well as all physical and digital transactions, including ATM, debit and credit card use. 'This gives customers time to report the scam and protect their remaining funds,' said Mr Muhammad. If your card details are compromised, the bank can help block, cancel and replace the affected card to prevent further misuse. Should you be approached with an offer that seems too good to be true, Mr Muhammad advises seeking a second opinion before acting. 'Consult family members before sending money to strangers, verify suspicious transactions through the bank's scam hotline, and remember – legitimate businesses won't ask for payment in gift cards or cryptocurrency,' he said.
