CSL Shares Crash as Profit Warning and $5 Billion Impairment Shake Investors 
China Banks Halt New Loans to Sanctioned Refineries Amid U.S.-Iran Oil Crackdown 
ECB Signals Possible Interest Rate Move if Inflation Outlook Fails to Improve 
Arm Stock Drops Despite Strong AI Chip Demand and Earnings Beat 
Broadcom Eyes $35 Billion AI Chip Financing Deal With Apollo and Blackstone 
CoreWeave Q1 2026 Revenue Surges as AI Infrastructure Demand Grows 
Indian Stock Market Drops as Iran Conflict Fuels Oil Price and Inflation Fears 
OCBC Q1 Profit Rises 5% on Strong Wealth Management and Non-Interest Income 
Gold Prices Slip as Strong Dollar and Rising Oil Weigh on Market Sentiment 
UOB Q1 Profit Meets Expectations as Loan Growth Offsets Lower Interest Rates 
AWS Data Center Overheating Disrupts Cloud Services in Northern Virginia 
Dollar Rises as Strait of Hormuz Crisis Pushes Oil Prices Higher 
Maersk Q1 Earnings Beat Expectations as Iran Conflict Clouds Shipping Outlook 
Armani Group Eyes Strategic Stake Sale to Luxury Giants 
South Korea Central Bank Signals Inflation Concerns as Oil Prices Surge 
European Stocks Fall as US-Iran Conflict Rekindles Energy Supply Fears 
Oil Prices Surge Over 3% as Trump Rejects Iran Peace Response 
POSCO International is investing $200 million to start its palm oil refining business in the Indonesian market. It was reported that Kalimantan, which is located in the southern part of Borneo, is being considered by the South Korean trading firm as a location for its first refined palm oil facility.
POSCO International made the decision to jump into the palm oil refining business in the said Asian country as part of its strategic plan to invest in core businesses, including eco-friendly materials, food, and energy.
As per The Korea Times, the firm announced its new business venture in Indonesia on Tuesday, Jan. 10. It was revealed that the company’s multi-million investment would be made through AGPA PTE Ltd., which it wholly owned and set up in Singapore in late 2021 for the expansion of its palm oil business.
The Kalimantan Island in Borneo is POSCO International’s strongest option for its palm oil refining plant. This region is also the most favorable one because of its perfect geographical conditions for obtaining palm raw materials as well as for exporting the products. Moreover, the company chose Indonesia for this venture since it is the largest palm oil producer in the world.
The construction of POSCO International’s palm oil refinery plant is expected to start within the last quarter of this year. Operations in the facility will follow within the second quarter of 2025.
The plant has a production capacity of 500,000 tons per year. The company said that the palm oil products that it will make would not only be sold in Indonesia, but it is also targeting exports to China and South Korea.
"We will discover profitable businesses and promote bold investments in order to transform from an existing trading company into a general business company for sustainable growth," Tak Jeong, POSCO International’s vice chairman, said in a statement. "We will set this year as the first year of a new leap forward in the food business and strengthen business foundations through overseas procurement and investment in in-demand assets."
