Company Briefs: Gojek

Gojek co-chief executive officer Andre Soelistyo is set to head the Indonesian app giant to be created when the transport and delivery provider merges with e-commerce company Tokopedia, according to people familiar with the matter.

Indonesia's two most valuable start-ups are set to form a holding company called GoTo, of which Gojek's shareholders will have 58 per cent and Tokopedia's owners the rest, said the people, who asked not to be named as the information is private.

Mr Patrick Cao, president of Tokopedia, will retain that title at the new entity, they said.

BLOOMBERG

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Crown Resorts

Australia's Crown Resorts said yesterday it will assess a A$3 billion (S$3.1 billion) offer by US private equity firm Oaktree Capital to buy tycoon James Packer's 37 per cent stake in the casino operator.

Mr Packer's influence on the company he founded came under intense scrutiny in a state inquiry last year that led to Crown's flagship Sydney casino losing its licence.

The reclusive billionaire earlier this month indicated he was open to selling his stake as part of an A$8 billion takeover bid by Blackstone Group that would see him pocket around A$2.9 billion.

REUTERS

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Sembcorp

Sembcorp said yesterday it has received notice from major customer Eastman Chemical Singapore to terminate its utilities services agreement. This came after Eastman exited its manufacturing site operations on Jurong Island.

Eastman contributed to 5 per cent of Sembcorp's 2020 financial year net profit before exceptional items, from continuing operations. Sembcorp also said another customer's facilities in Britain were undergoing a one-year overhaul. Eastman and this customer contributed about $30 million of FY2020 net profit in total.

THE BUSINESS TIMES