Fuel retailer Singapore Petroleum Co (SPC) has put in a bid of $92.7 million for a petrol station site - an all-time high - signalling the China-owned entity's ambition to grow its presence here.
SPC, which has just dropped its "leaping lion" logo for owner PetroChina's flower emblem, beat the second-highest bidder - American oil giant Chevron - by 20 per cent with its offer for the 1,552 sq m plot. Chevron, which currently operates a Caltex station at the Bukit Batok site, bid $77.3 million.
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