Asian Paints’ wholly owned subsidiary -- Asian Paints International, Singapore (APIPL) has completed the divestment of the Indonesia operations by sale of the entire stakes held in PT Asian Paints Indonesia (PTAPI) and PT Asian Paints Color Indonesia (PTAPCI) for a consideration of 6.8 million Singapore Dollar (SGD) (approximately Rs 44 crore). PTAPI and PTAPCI have ceased to be the subsidiaries of APIPL with effect from March 20, 2025.
Asian Paints International, Singapore has been carrying out operations in Indonesia through PT Asian Paints Indonesia and PT Asian Paints Color Indonesia since the FY 2016-17.
Earlier, APIPL along with PTAPI and PTAPCI had entered into a Share Purchase Agreement with Omega Property Investments’ subsidiary -- Berger Paints Singapore for sale of 100% stake held in PTAPI and PTAPCI.
Asian Paints manufactures a wide range of paints for decorative and industrial use and also offers Wall Coverings, water proofing, adhesives and services under its portfolio.
