Can you introduce YCP Solidiance? 

YCP Solidiance is an Asia-focused advisory and management consulting firm with offices across 21 cities in Asia, North America, and Europe. We are listed on the Tokyo Stock Exchange and headquartered in Singapore, but our footprint is truly global. 

Specifically, our market focus in Indonesia has traditionally been on energy and chemicals, but we have also expanded into the food agriculture, construction, and mining segments - amongst others. We assist clients drive their business growth through strategic solutions. The chemical and energy sector remains YCP Solidiance's main focus in Southeast Asia, especially in Indonesia, followed by the mobility and the retail sector, in countries such as Thailand and Malaysia.   

What are the most pressing concerns or goals in 2024?

I think it is about the implementation of our strategy crafted for our clients.YCP Solidiance is particularly recognized for our PMO (Project Management Office) services. Our PMO activities include new business PMO where we provide end-to-end support, from supply chain development to organizational design implementation; Supply Chain where we optimize logistical processes as we aim to create scalable systems, reduce costs, and improve bottom lines; Sales and Marketing strategies to increase profit margins with innovative solutions such as digital marketing, e-commerce, and sales channel optimization; Human Resources and Organization alignment to structure and choose the right personnel to meet short- and long-term business goals; Business Management services where we implement cost analyses, budget control infrastructure, and cost reduction procedures; and Business Design to maximize the efficiency of operations.

What is the M&A scene looking like in 2024 for the chemical industry? 

At the moment, I would say there continues to be an appetite for M&A, especially in the downstream space, motivated by the desire to build resilience and profitability in a volatile market. However, with the recent price fluctuations, the industry is rather careful with what it spends on. The chemical industry is already highly regulated, with many compliance aspects that need to be taken into account, so the last thing the industry wants is another risk. Therefore, the M&A work we provide is typically focused on minimizing that risk and requires a lot on due diligence. When a deal is in the pipeline, the price is usually extensively negotiated. 

What will be the main growth drivers for YCP Solidiance moving forward? 

The company’s growth will come from the solution implementation phase as companies require assistance with the execution of their strategies. YPC Solidiance has a strong implementation team with a boots-on-the-ground approach, driving business growth for our customers through realizing digital transformation or supply chain solutions for example. We have recently integrated Consus Global into YCP Group, which enables us to service our clients better and minimize their procurement and supply chain expenses as Consus is at the forefront of procurement and supply chain transformations, digital source-to-pay implementations, spend analytics solutions, and procurement operations for customers worldwide. 

Indonesia is the region’s largest consumer market. Do you have any advice for new or existing investors in terms of how best to capture the country’s opportunities and navigate any challenges?

Indonesia has a rich consumer market, but recently, the purchasing power has been impacted by inflation and a weakening currency. However, Indonesia has long been a focal point for investors. And for good reason; its vast population, coupled with a business-friendly environment, makes it an attractive destination for investment. The projected growth rate of around 5% in 2024, largely driven by robust private consumption, only adds to its appeal. Hence, I believe that this current situation will bounce back to the better.