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ABOUT FORTREC

Fortrec Chemicals & Petroleum Pte Ltd – Trading Entity

We are an independent and privately-held commodity trading company established in 1999 with a strong track record of producing and trading petroleum and petrochemical products.

We provide innovative and value-added solutions, including financial structuring, raw material sourcing and plant operations. With a global presence and a strong Asian footprint, the Group headquarters is based in Singapore.

Strong partnerships have been built through equity positions in trading related assets.

Fortrec Capital Pte Ltd – Asset Management & Investments

Fortrec Capital, founded in 2006, is the asset and investment arm of the Fortrec Group, focused on acquiring and managing equity positions in strategic assets. These acquisitions and investments have positioned the Group at the forefront of the global petrochemicals business, creating synergies between our production and trading operations, and enabling us to trade around our assets.

We actively engage with global trading partners to identify new investment opportunities within the industry.

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Board & Management

Board of Directors

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Ajay Bhattacharya

Director &
Chief Executive Officer

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Grant Ferguson

Director

Management Team

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Aravind Menon

Chief Financial
Officer

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Reena Lakshmi Kulendran

Senior Commercial
Manager

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Sidharthan Nair

Operations
Excellence

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Our Milestones

With Over 25 Years of Excellence in Developing and Promoting Growth in the Petrochemical and Petroleum Sector
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2024

October

FORTREC SWITZERLAND LTD.
Incorporation of a subsidiary office in Switzerland, expanding our global presence and supporting commercial activities in the European market.
2024 mar 2019 nov line
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2024

March

FACULTY OF ENGINEERING – CHEMICAL ENGINEERING FORTREC BURSARY
Establishment of the Faculty of Engineering – Chemical Engineering Fortrec Bursary at the College of Design and Engineering (CDE).

2019

November

2019 ENTERPRISE 50 NO.12 WINNER
FORTREC has once again been awarded the Enterprise 50 Award for 2019. The Silver Jubilee of the E50 Awards was particularly competitive as the 25th edition attracted a larger number of participants. We are pleased to have been selected again in our 20th Anniversary in business. The E50 Awards are jointly organised by accounting organisation KPMG Singapore and The Business Times and sponsored by OCBC Bank.
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2019

March

GRAND OPENING OF FORTREC CHEMICAL CO., LTD.

Fortrec Chemical Co., Ltd. is a chemical refinery in Ulsan, Korea and was established after Fortrec Capital Pte Ltd acquired a controlling stake in the refinery.

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2018

December

FORTREC KOREA CO., LTD.
Incorporation of Korean subsidiary, expanding our global presence and supporting commercial activities in the Asia market.
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2018

November

2018 ASIA'S GREATEST BRANDS & LEADERS WINNER
In AsiaOne Magazine’s 3rd Edition of Asia’s Greatest Brands & Leaders Awards; FORTREC has been chosen a winner for both the brand and leader (Managing Director, Mr. Ajay Bhattacharya) of the industry category that forms the Pride of Asia. Each year the prizes recognise highly identifiable brands and leaders of the industry category in Asia and is notably chosen by peers; consumers and industry.
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2017

November

2017 ENTERPRISE 50 NO.12 WINNER

FORTREC has been awarded the Enterprise 50 Award for 2017 among thousands of Singaporean privately-held companies. The prize is supported by Enterprise Singapore, Singapore Business Federation, Singapore Exchange and SPRING Singapore. Each year the E50 Awards recognises 50 outstanding companies who have contributed to the economic development in Singapore and around the world. A lot of companies recognised in past years have gone on to be listed on the local bourse.

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2013

September

COUNTERPART REGISTRATION
Fully Operational Clearing Facility Registered Counterpart to CME & ICE.
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2013

January

COMPANY EXPANDING

Top 1000 companies in Singapore. Top 100 fastest growing companies in Singapore.

GLOBAL TRADER PROGRAMME
5-year privileges awarded by the Ministry of Trade and Industry, Singapore.
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2012

January

GROWTH ACHIEVEMENT
10-year Sales Growth Achievement Award.
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2009

January

GLOBAL TRADER PROGRAMME
4-year privileges awarded by the Ministry of Trade and Industry, Singapore.
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2007

March

FIRST JOINT VENTURE IN CHINA
Jiangsu Hualun Fortrec Chemical Industry Co., Ltd.
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2006

May

FORTREC CAPITAL PTE LTD
Fortrec Capital Pte Ltd was incorporated on 10 May 2006.

January

GLOBAL TRADER PROGRAMME
3-year privileges awarded by the Ministry of Trade and Industry, Singapore.

1999

September

FORTREC CHEMICALS & PETROLEUM PTE LTD
Fortrec Chemicals & Petroleum Pte Ltd was incorporated on 7 September 1999.

Awards & Honours

Following were accolades achieved over the years:

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2017 ENTERPRISE 50 AWARDS
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25TH ENTERPRISE 50 AWARDS
asia greatest leaders 2018
ASIA'S GREATEST LEADERS 2018
global indian of the year 2018 19
GLOBAL INDIAN OF THE YEAR 2018-19
asia greatest brands 2018
ASIA'S GREATEST BRANDS 2018
global trader programme certificate
GLOBAL TRADER PROGRAMME CERTIFICATE
singapore international 100 company 2016
SINGAPORE INTERNATIONAL 100 COMPANY 2016
singapore international 100 company 2018
SINGAPORE INTERNATIONAL 100 COMPANY 2018
singapore 1000 company emerging 2016
SINGAPORE 1000 COMPANY EMERGING 2016
singapore 1000 company emerging 2018
SINGAPORE 1000 COMPANY EMERGING 2018
singapore 1000 company emerging 2019
SINGAPORE 1000 COMPANY EMERGING 2019
Ajay Bhattacharya
Director &
Chief Executive Officer

Mr. Ajay Bhattacharya is the Founder and Chief Executive Officer of Fortrec Chemicals and Petroleum.

With over 32 years of experience in the Chemical and Petrochemical industry, Mr. Bhattacharya has led Fortrec for over 25 years.

Prior to establishing Fortrec, he gained experience as a Trade Manager at Landmark Chemicals Pte Ltd, a Swiss Petrochemicals trading company. He was responsible for establishing the Singapore office which later became the Asian Head Office of the company. Mr. Bhattacharya also served as Vice President (Petrochemicals) at Pharma Pte Ltd, where he led petrochemical marketing activities.

Under Mr. Bhattacharya’s guidance, Fortrec was awarded the Global Trader Programme status in 2006 and was awarded Top Singapore International 100 company and Enterprise 50 (E50) award by the government of Singapore. He was also honoured with the award of ‘AsiaOne Global Indian of the Year 2018-2019’ by AsiaOne Magazine and URS Media at the 12th Edition of Asian Business & Social Investor Forum and 4th Edition India’s Greatest Brands & Leaders 2018-2019.

Mr. Bhattacharya holds a bachelor’s degree in Chemical Engineering from the National University of Singapore and a master’s degree in Business Administration from Andrew’s University (Michigan). He holds a diploma in Directorship from Singapore Management University and has completed an executive education course on Mergers and Acquisition from Stanford University.

Grant Ferguson
Director

Mr. Grant Ferguson joined Fortrec as a Director in 2013. He has over 30 years of board and senior management experience from across Asia with some of the region’s leading business groups.

He serves as the Chairman of SRG Asia Pacific, and of Oxford United Football Club and as a director of Disruptive Concepts and Sun Direct TV. He is also a Trustee Governor of the Alice Smith School in Kuala Lumpur.

He has formerly served as a Director of Inter Milan, Chief Executive Officer of Astro Overseas Limited, Chief Financial Officer of Astro Group and Managing Director of Temasek Holdings.

Mr. Ferguson holds a bachelor’s degree in Management and Administration from Aston University (UK). He is a Chartered Accountant (CA) from the Institute of Chartered Accountants (Scotland) and a Certified Public Accountant (CPA) from the Hong Kong Institute of Certified Public Accountants.

Aravind Menon
Chief Financial Officer

Mr. Aravind Menon joined Fortrec as the Chief Financial Officer (CFO) in 2022 and is a member of the Senior Management Team.

Mr. Menon sets the finance and treasury direction of the group and his main area of focus is to establish and strengthen the group’s relationships with financial institutions. He leads the accounting, budgeting, treasury, financial reporting, risk management and trade finance functions of the group.

He has over 30 years of experience in corporate finance, accounting, treasury and commodity trade finance gained from both the corporate and banking sectors.

Prior to joining Fortrec, he held senior positions at Jindal Steel International and COFCO Agri. During his tenure at COFCO Agri as the Global Head of Structured Trade Finance, he played an instrumental role in raising over USD9 billion of working capital facilities to support the growth of the company.

Mr. Menon holds a Bachelor of Business Degree from Edith Cowan University and is a qualified Australian CPA. He has also completed an Executive Programme in Driving Innovation and Operational Excellence at Stanford Graduate School of Business.

Reena Lakshmi Kulendran
Senior Commercial Manager

Ms. Reena Kulendran joined Fortrec in 2025 as Senior Commercial Manager. A member of the Senior Management Team, she leads the Emerging Accounts portfolio under the Commercial function, overseeing strategic sourcing, business development, and the expansion of new commercial partnerships across Fortrec’s petroleum and petrochemical products.

With over 10 years of experience in the oil and petrochemical industry, Ms. Kulendran previously held various commercial and trading roles at Petronas Chemicals Group Berhad, where she managed sales portfolios for Aromatics, Olefins, Glycols, and derivatives, building long-term partnerships across regional and international markets.

At Fortrec, she plays a pivotal role in strengthening market presence through optimised sourcing and trading strategies that drive sustainable value creation.

Ms. Kulendran holds a Bachelor of Technology (Honours) in Business Information System from Universiti Teknologi Petronas.

Sidharthan Nair
Operations Excellence
– Subject Matter Expert

Mr. Sidharthan Nair serves as Subject Matter Expert (SME) in Operations Excellence, providing advisory and guidance to the Operations team. In his current role, he leverages his extensive expertise to drive best practices, enhance operational effectiveness and improves efficiencies. He provides strategic insights, troubleshoots operational challenges, and ensuring alignment with industry standards and business objectives.

Previously, Mr. Sidharthan was the TC Division Head and Chartering Manager, where he played a key role in managing all chartering operations and leading complex negotiations. His leadership in these roles have strengthened Fortrec’s operational capability.

With an extensive experience of 40 years in marine & terminal logistics operations, Mr. Sidharthan has built a stellar career. Prior to joining Fortrec, he had contributed over 17 years of service with Chevron where he played a significant role in their marine and voyage management functions. His efforts led to notable cost reductions in freight and demurrage reductions through strategic storage solutions. In 2006, he received recognition from the company’s global president for successfully negotiating and putting in place a new Contract of Affreightment (COA) term contract for marine chemical liquid bulk shipments in the Asia Pacific Region.

Mr. Sidharthan holds a Diploma in Chemicals Process Technology, a Graduate Diploma in Business Administration, and a Certificate of Professional Competency in Marine Cyber Security.