On 17 December 2018, PT Chandra Asri Petrochemical Tbk signed Export Credit Facility agreement with Japan Bank for International Cooperation (JBIC) and BNP Paribas (Tokyo Branch) for 8 years duration. Nippon Export and Investment Insurance (NEXI) will provide insurance protection for tranches from BNP Paribas (Tokyo Branch).
This facility will be used to finance the construction of a new 400 KTA polyethylene plant which will increase the company’s total PE production into 736 KTA. Later, this new plant will produce High Density Polyethylene (HDPE), Linear Low Density Polyethylene (LLDPE), and Metallocene LLDPE (mLLDPE). The operation of the new PE plant will be expected to become a new supply of domestic PE products, whose demand is estimated to reach around 1.4 million TPA and tend to increase along with economic growth.
Teachers hold very important part in the survival of civilization, due to their prominent role in passing down education from generation to generation. PT Chandra Asri Petrochemical Tbk is committed to improve education quality in Banten district. Therefore the company cooperate back with Yayasan Surya Institute to provide training for Junior Highschool Mathematic & Physic Teachers in Serang District. This Batch 2 training held throughout 10 - 14 December 2018 in Hotel Grand Mangku Putra Cilegon, with 130 teachers as participants from 65 Junior High School.
On 13 December, 2018, PT Chandra Asri Petrochemical Tbk along with volunteers from employees, assisted final stage construction of PAUD Widuri. This activity is the continuation from the groundbreaking and its initial phase of construction that held on 23 October. Located in Kelurahan Kubang Welut, Kecamatan Ciwandan, the building that has been fixed for approximately three months, has begun to appear in shape. Two classrooms, one teacher's room, and several playground facilities have been built in front of PAUD Widuri.
Together with Happy Hearts Fund Indonesia, the volunteers helped each other to paint PAUD Widuri buildings. The inner walls of the classroom, the outer walls of the classroom, and the playground area are the target of painting by volunteers from 9am to around 1pm.
The help from volunteers to finish the final stage of construction is expected to increase enthusiasm and optimism of PAUD Widuri students and teachers in the learning process, hence would improve the quality of education in Cilegon.
On 12 December 2018 PT Styrindo Mono Indonesia (SMI), subsidiary of PT Chandra Asri Petrochemical Tbk, received Green Industry 2018 award in Ministry of Industry Republic of Indonesia, Jakarta. The Green Industry award is part of Ministry of Industry program which been held annually since 2010. This time, the award aimed to motivate manufacturing industry to increase more activity relating to circular economy. For the last three years in a row, SMI received the level 5 award, that is the highest level in Green Industry award. The Green Industry 2018 award was handed-over directly by Bapak Airlangga Hartarto, Minister of Industry Republic of Indonesia to Bapak Syafri Rustam, GM Styrene Production SMI.
On 11 December 2018, PT Chandra Asri Petrochemical Tbk held seminar “Innovative Polyethylene for Rotomolding and Wire-Cable to Support Indonesia’s Infrastructure Sector” in Ayana Midplaza, Jakarta. Also inviting Bapak Taufik Bawazier, Director of Downstream Chemistry, Indonesian Ministry of Industry and Bapak Noval Jamalullail, President of Indonesian Association of Power Cable Plant (APKABEL), this seminar also serve as product launching of Chandra Asri’s Asrene UR3840V (Rotomolding) & Asrene UC1827 (Wire-Cable).
After going through development phase for the past 1-2 years, Asrene UR3840V & Asrene UC1827 is officially launched, due to strong support from government and customers. This new product line was prepared for the capacity expansion of Polyethylene Plant, that will be ready to operate by 2019, and to cater the needs of raw material from domestic industry player, to support nation’s infrastructure sector.
On 10 December 2018, PT Chandra Asri Petrochemical Tbk received the Good Corporate Governance (GCG) Award in The 10th IICD Corporate Governance Award 2018 for the Top 50 Big Capitalization Public Listed Company category. This year’s theme is Bringing About CG Changes: Opportunities and Challenges for Directors. It’s an appreciation ceremony from the Indonesian Institute for Corporate Directorship (IICD) to public companies deemed to be committed to running GCG. This is the fourth time the Company received the award. Previously, the Company was included in the list of preferred companies that received GCG Award for Top 50 Biggest Market Capitalization Public Listed Companies (2017), Top 50 Public Listed Company (2016 and 2015) and The Best Improved (2015) categories.
On 27-30 November 2018, PT Chandra Asri Petrochemical Tbk and Styrindo Mono Indonesia (SMI) take part in the National Quality & Productivity Convention (TKMPN) XXII and International Quality & Productivity Convention (IQPC) 2018 held in Batam. The event was attended by more than 2000 participants from various leading company in Indonesia and several countries in Asia
Having the opportunity to talk in the management forum, Mr. Hamim Thohari, General Manager of Polymer Production shares about ''Best Practice & Success Story of Chandra Asri in Implementing Project Improvement Program and TPM”. In addition to that Chandra Asri and SMI’s Small Group Activity (SGA) managed to bring home 1 Platinum award and 3 Gold awards.
On 29 November 2018, a joint venture between PT Chandra Asri Petrochemical Tbk and Michelin, PT Synthetic Rubber Indonesia (SRI) inaugurated its factory located in Cilegon, West Java. The factory is inaugurated by the Minister of Industry, Airlangga Hartanto, and the Minister of State, attached to the Minister for Europe and Foreign Affairs of the French Republic, Jean-Baptiste Lemoyne. The event is also attended by Thomas Lembong, Head of Indonesian Investment Coordinating Board (BKPM). The presence of SRI will strengthen the manufacturing sector by producing value added products, combining Chandra Asri’s raw material products and Michelin’s technology that changes these raw materials into semi-finished products used in the key components to produce environmentally friendly tires.
On 16 November 2018, PT Chandra Asri Petrochemical Tbk held Investor Gathering, to announce the plan of bonds issuance through the Shelf Registration Bonds II Chandra Asri Petrochemical Phase I Year 2018 with a target of Rp 2 trillion. For phase I, Bonds issued with maximum amount of Rp 500 billion, consisting of Series A and B with tenors of 3 (three) and 5 (five) years respectively. Bond interest is paid quarterly, which will be paid for first time on 19 March 2019.
The public offering was attended by PT BCA Sekuritas, PT DBS Vickers Sekuritas Indonesia, PT Mandiri Sekuritas as the underwriters for the issuance of the securities. The Company is confident in building trust of the investors in this Bond Public Offering.
On 7 November 2018, PT Chandra Asri Petrochemical Tbk brings home Gold Award for Manufacturing category in Operational Excellence Conference & Award 2018 (OPEXCON18) held in Ritz Carlton Pacific Place, Jakarta. In this annual event held by SSCX International, Chandra Asri competes with 220 improvement projects from various major companies in Indonesia. This year’s award marks the 6th time of Chandra Asri’s success in OPEXCON after the Gold Awards (2016 and 2013), Silver Awards (2015 and 2017) and Bronze Award (2014) in the same category.