<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 1): Petronas Chemicals Group Bhd (PetChem) is collaborating with PT AKR Corporindo Tbk (PT AKR) to distribute chemicals across Indonesia, both companies said in a joint statement today.</p></div>

<div class=newsTextDataWrapInner><p>Indonesia-listed PT AKR is a petroleum and basic chemicals distributor, the statement said.</p></div>

<div class=newsTextDataWrapInner><p>According to the statement, PetChem and PT AKR's respective subsidiaries Petronas Chemicals Marketing Sdn Bhd and PT AKR Niaga Indonesia had recently signed an agreement to formalise the joint venture (JV).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"A JV company will be formed by the subsidiaries of PetChem and PT AKR respectively for this purpose," the statement said.</p></div>

<div class=newsTextDataWrapInner><p>The statement said the partnership leverages both companies’ strengths to bring greater value to Indonesia.</p></div>

<div class=newsTextDataWrapInner><p>At the same time, PetChem and PT AKR will work together to deliver innovative customer solutions to meet customers’ diverse needs, according to the statement.</p></div>

<div class=newsTextDataWrapInner><p>"Methanol will be the first product to be distributed to customers in Indonesia," the statement said.</p></div>

<div class=newsTextDataWrapInner><p>On Bursa Malaysia today, PetChem shares were traded unchanged at RM5.46 during the bourse's 12:30pm break for a market value of RM43.68 billion.</p></div>

<div class=newsTextDataWrapInner><p>The stock saw some four million shares traded.</p></div>

<div class=newsTextDataWrapInner><p><em>Edited by Chong Jin Hun</em></p></div>


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