Petronas Chemicals, the chemical production division of Malaysia-based oil and gas supplier Petronas, plans to leverage corporate venture capital to uncover opportunities for business growth, Sun Daily has reported.
An investment team has been recruited to help Petronas Chemicals identify emerging technologies and markets that could potentially be accessed through strategic investments, as part of a plan that will also include mergers and acquisitions and in-house research.
Arif Mahmood, vice-president for corporate strategic planning at Petronas, said: “We have a team now to look at where we want to invest further, in terms of growing the portfolio of the business.”