Mr Sanjay Agarwal, Managing Director, K S Oils receiving the certificate of IHQ status from Mr. Quek Swee Kuan, Assistant Managing Director of EDB. --PHOTO: K S OILS
INDIAN edible oil company K S Oils looks to take its domestic success worldwide by setting up its international headquarters (IHQ) in Singapore to tap into regional supply and markets.
Its fully-owned subsidiary, K S Natural Resources (KSNR), was awarded IHQ status by the Singapore Economic Development Board (EDB) on Tuesday - a first for Indian agri-based firm.
K S Oils managing director Sanjay Agarwal said at the conferring ceremony that the company hopes to expand its presence by acquiring 'a strong back-end supply chain both in India and abroad'.
He added that the IHQ will 'drive investment into Southeast Asia to build a global agri-company.'
The Singapore headquarters will be staffed with 30 to 40 employees and used as a base for the company's international trading and shiping activities.
