PT Chandra Asri Pacific Tbk, a subsidiary of Barito Pacific, is continuing its regional expansion in Southeast Asia.

PT Chandra Asri Pacific Tbk has signed a Conditional Sale and Purchase Agreement (CSPA) to acquire the Cycle & Carriage automotive business in Singapore and Malaysia from Jardine Matheson.

With a 127-year history and a portfolio of global automotive brands dating back to its founding in 1899, Cycle & Carriage will strengthen PT Chandra Asri Pacific Tbk’s position across the mobility industry value chain.

This acquisition complements PT Chandra Asri Pacific Tbk’s existing energy and retail businesses in Singapore—including its network of Esso-branded retail service stations—while further expanding the Group’s integrated platform in Southeast Asia across three key strategic pillars: Energy & Chemicals, Integrated Infrastructure, and Mobility Solutions.