Ocean 21 Holdings Pte., Ltd., unit of Indofood Sukses Makmur (INDF) plans to establish three new subsidiaries in Singapore as part of the company expansion. The three new subsidiaries engaged in the shipping business under the name Ocean Gold Pte., Ltd., Ocean Jade Pte., Ltd., and Ocean Perkasa Pte., Ltd.
Recently, the other subsidiary, Indofood CBP Sukses Makmur (ICBP), has completed the acquisition of the related firm to the Salim Group, Pinehill Company Ltd., to expand the international market. The president director of Indofood, Anthoni Salim has indirect ownership of around 49% stake in Pinehill Corpora.