Aster—controlled by Indonesian billionaire Prajogo Pangestu’s Chandra Asri Pacific—has agreed to acquire a stake in Changi Airport Fuel Hydrant Installation, marking the energy and petrochemical group’s entry into the aviation fuel market as it deepens investments in Singapore.

The acquisition will enable Aster to join other major energy companies in providing aviation fuel directly to international airlines at Changi Airport, one of the world’s busiest aviation hubs, according to a statement on Friday. Aster didn’t disclose financial details of the transaction, which is subject to regulatory........

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