Refrigerated Company Replaces Discount Group to Take Over Esso Gas Station Convenience Retail | Lianhe Zaobao

In the coming months, the retail convenience stores operated by the Esso stations in the local area will be taken over by Cold Storage. Aster Mobility Solutions and Cold Storage jointly announced this news on Thursday, March 5. Aster had just acquired the local Esso stations last year, and Cold Storage was also acquired by a Malaysian retail group last year. According to the announcement, under the new cooperation arrangement, Cold Storage will launch an updated convenience retail concept at the Esso stations, offering essential daily goods, ready-to-eat food, and fresh produce to meet the immediate consumption needs of commuters and drivers. Both parties stated that during the transition period, they will prioritize employee and customer experience to ensure business continuity and service stability. Aster pointed out that this cooperation reflects both parties' long-term commitment to the Singapore market and aims to redefine the service experience at gas stations, making them not only refueling points but also spaces that provide convenient services for daily life. Lin Wenchong, Managing Director of Cold Storage, expressed hope that by leveraging the geographical advantages of the Esso stations, they can bring quality food and convenience products to new consumption scenarios, providing customers with a more convenient shopping experience. Further Reading KKR provides $750 million financing to support Chandra Asri's acquisition of Esso stations Indonesian Integrated Petrochemical Group acquires 58 Esso stations in Singapore Aster Mobility Solutions is a subsidiary of Chandra Asri Pacific, an Indonesian energy and chemical company. Chandra Asri Pacific owns refining, chemical, and infrastructure assets in Singapore and Indonesia, and its subsidiary Aster Chemicals and Energy previously took over the facilities on Pulau Bukom and Jurong Island that were divested by Shell Last year, Yashida acquired 58 Esso gas stations in Singapore from ExxonMobil, but the acquisition price was not disclosed at that time. The century-old cold storage company also changed hands last year, with the original shareholder, DFI Retail, which is listed as the second listing in Singapore, selling 89 local cold storage companies and Giant supermarket for SGD 125 million to Malaysian retail group Macrovalue. Macrovalue was co-founded by Malaysian retail businessman Lin Daqiang and Ye Qingfa, with Lin Daqiang known for successfully turning around the Sogo department store in Kuala Lumpur. Since 2003, the budget group has been operating 24-hour budget Xpress or Cheers convenience stores at Esso gas stations