MoU signed in Kaula Lampur between Rajinder Singh, Group Chairman at Sinton Group and Ashutosh Mishra, CEO at Agribid (on the right) |
Mumbai, India / Kuala Lumpur, Malaysia: Sinton Vantage Trading Pte. Ltd. (“Sinton”), is a global commodity trading company headquartered in Singapore with primary operations in Malaysia, Indonesia and India. Sinton’s core business activities include sourcing, supplying, trading and logistics for petroleum products, agribusiness, and oleochemicals and fertilizers. The company has expanded their business by also investing in agribusiness, fertilizer and oleochemicals manufacturing facilities.
Sinton works with government-linked comp.es such as FGV, Malaysian-based global agribusiness company an affiliate of the Federal Land Development Authority (FELDA) (a Malaysian government agency), Felcra Niaga, a subsidiary of FELCRA BERHAD, which is a state-owned entity (SOE), wholly owned by the Malaysian Government, under the Minister of Finance (Incorporated), and Petronas Chemicals, is the chemical arm of PETRONAS and Malaysia’s leading integrated chemicals producer.
Agribid Private Limited (Agribid), is a leading Agritech startup, committed to delivering digital transformation to the agricultural landscape and sustainable solutions to the farming community worldwide. With a focus on innovation, integrity, and excellence, Agribid strives to empower farmers, support communities, and promote food security across the globe.
In its journey Agribid has worked with various Government departments in Public Private Partnership model and has been closely associated with farmer procurement and storage creation projects. Having a presence in 18 states and registering more than 10000+ PACS/FPOs & 1 crore farmers, it is one of the fastest growing Agritech startup.
Sinton and Agribid have announced a strategic partnership aimed at revolutionizing the procurement of commodities in the agriculture sector. This partnership will begin with the beginning of Sinton Agribid Indonesia, with the goal of transforming Indonesia’s agricultural scene. The formation of Sinton Agribid Indonesia will assume the role of supplying and delivering high-quality agricultural commodities to the Indonesian Government linked comp.es for the next five years.
By joining forces, Sinton and Agribid can harness synergies from both of their respective areas of expertise, resources and networks in order to ensure food security in Indonesia and other Southeast Asian countries. The partnership will raise up to USD 50 million in equity and debt for building warehousing and bringing facilities in top 4 seaports in India. This project shall enable the partnership to provide an all-encompassing solution to the value chain participant and will aim to boost the export of Agri commodities through PACS and FPOs.
Sinton’s Chairman and Chief Executive Officer, Rajinder Singh said, “We are excited about the opportunities that lie ahead through our collaboration with Agribid, “By joining forces, we can combine our strengths to address the evolving needs of South East Asia agricultural sector. Together, we will strive to deliver value and drive sustainable development.”
Agribid Chief Executive Officer, Ashutosh Mishra echoed this sentiment, highlighting the significance of this partnership. He said, “We are thrilled to embark on this collaborative journey with Sinton to establish Sinton Agribid Indonesia. This partnership represents a convergence of strengths, as we combine our expertise in agricultural commodities with Sinton’s innovative solutions. Together, we aim to drive positive change and contribute to the sustainable development of Indonesia’s and South East Asia’s agricultural sector.”
This collaboration between Sinton and Agribid signifies a shared commitment to innovation and sustainability towards the agricultural landscape. Sinton Agribid Indonesia is poised to make a lasting impact on the nation’s agricultural industry.
