Chandra Asri has signed a Conditional Shares Sale and Purchase Agreement (CSPA) and Shareholders Agreement (SHA) for two subsidiaries owned by PT Krakatau Sarana Infrastruktur (“PT KSI”), namely PT Krakatau Daya Listrik (“PT KDL ”) and PT Krakatau Tirta Industri (“PT KTI”). The signing of the CSPA and SHA was carried out by the Main Director of PT KSI, Agus Nizar Vidiansyah and the President Director of Chandra Asri, Erwin Ciputra, witnessed by the Main Director of PTKS, Silmy Karim.
Chandra Asri is very excited to execute the “programmatic M&A” strategy to position the Company for profitable and sustainable business growth. In the CSPA, it was agreed that Chandra Asri will purchase 70% of PT KSI's shares in PT KDL and 49% of PT KSI's shares in PT KTI with a total value of IDR3.24 Trillion (or US$210 million). Chandra Asri hoped that the cooperation between Chandra Asri and PT KSI Group and PTKS could be better enhanced, and mutually support continuous industrial development in the future.
Closing the year of 2022, the two Chandra Asri plants in Ciwandan and Puloampel were awarded the Green PROPER Award from the Ministry of Environment and Forestry (KLHK) of the Republic of Indonesia on Thursday, 29 December 2022. These two Chandra Asri plats were considered to exceed environmental management requirements, as well as contribute to community development and biodiversity around the Company's operational area.
The achievement of Green PROPER in 2022 marked the second time for Chandra Asri to receive the highest appreciation in environmental management. This award is also a form of the Company's commitment to sustainable business practices by implementing green energy. In the future, Chandra Asri will be committed to maintaining its achievements in minimizing environmental impacts and continuing to make process improvements to realize a sustainable petrochemical business.
PT Chandra Asri Petrochemical Tbk won Gold Achievement in the 2022 OPEXCON Award organized by SHIFT Indonesia at Pullman Jakarta Central Park. In the 10th year of Chandra Asri's participation, the Company has managed to maintain its Gold Achievement title in the Manufacturing category for the third year running. This is an ocular proof of Chandra Asri's commitment to continue to innovate and implement continuous improvements to create a sustainable business. Apart from Gold Achievements, Chandra Asri also received a Bronze Achievements for other project.
OPEXCON is a competition initiated by SHIFT Indonesia to invite companies in Indonesia to pay more attention to the importance of innovation and improvement for the future of business. Winners are judged based on project selection, project methodology, problem analysis, solutions, and presentation skills. Of the 100 participants, Chandra Asri was chosen as one of the 10 finalists who were entitled to be awarded the Gold Achievement.
To commemorate National Tree Planting Day, which falls every November 28, one hundred Chandra Asri volunteers planted trees in Kehati Village 165 Park, Kadubeureum Village, Padarincang, Banten. This planting procession is in collaboration with the Kehati Cikalumpang Foundation and was attended by representatives of the Serang Regency Environmental Service (DLH), representatives of the Serang Regency Environment and Sanitation Service (DLHK) Seed Center, and Chandra Asri's management.
In commemoration of this National Tree Planting Day, Chandra Asri planted a total of 450 tree seedlings, 200 seeds were planted at Kehati Village 165 Park, and another 250 tree seeds were distributed to Taman Kehati Asri owned by Chandra Asri. On the same occasion, the Head of DLH Serang Regency presented an award to Chandra Asri for planting 2,000 tree seedlings and the company's commitment to protecting biodiversity in the Kehati Barokah Park, Kadubeureum Village, Serang Regency.
Chandra Asri won the Gold/Platinum award in the SNI Award 2022, organized by the National Standardization Agency (BSN). Chandra Asri's achievement as the awardee of Major Goods Organizations in the Chemical, Pharmaceutical, Textile, and Mining Sectors was due to the Company's commitment to implementing the Indonesian National Standard (SNI) for the quality and standards of its products.
In its business operations, Chandra Asri carries out strict quality control to ensure the production process and product quality are always at their best performance. Chandra Asri has also obtained SNI 8887:2020 certification for gas pipe raw materials this year. The existence of SNI products will make it easier for consumers to choose quality products that are safe for health and the environment.
Chandra Asri [IDX:TPIA] notes the recent media report about its interest in Ixom, the Australian specialty chemical business owned by Keppel Infrastructure Trust (KIT) ISGX:A7RU]. Chandra Asri confirms that it is no longer involved in the sale process for Ixom.
PT Chandra Asri Petrochemical Tbk won two Level 5 Green Industry awards from the Ministry of Industry. These two highest awards were given to Chandra Asri's two plant, Ciwandan Site and Puloampel Site for they were considered successful in implementing green industry principles in their production processes to run more sustainable business operations. 2022 is the 12th year of implementing the Green Industry. Through this award, the Government encourages industrial development that is in harmony with the preservation of environmental functions and can provide benefits to society.
Chandra Asri announced their collaboration with Borouge, a petrochemical company from the United Arab Emirates, at the B20 (Business 20) event in Nusa Dua, Bali, Monday (14/11/2022). The commitment agreed by both of petrochemical companies were based on a joint circular economy initiative which cover the management of polyolefin waste and recycling facilities to produce new products; as well as opportunities in co-marketing and market development initiatives, including developing non-metallic applications in certain market segments in oil and gas amalgamation, automotive, construction, and else, to promote the use of polyolefins.
The announcement of the commitment was attended by President of the Republic of Indonesia Joko Widodo, President of the United Arab Emirates Mohammed bin Zayed Al Nahyan, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan, Minister of Foreign Affairs Retno LP Marsudi, Minister of Environment and Forestry Siti Nurbaya Bakar, Minister of Public Works and Public Housing Basuki Hadimuljono and Minister of Industry Airlangga Hartarto and CEO of Masdar Mohammed Jameel Al Ramahi.
Chandra Asri is pleased to announce that on October 2022, the Company received an overall Environmental, Social and Governance (ESG) Risk Rating score of 17.7 from Sustainalytics. This rating is categorizing as “Low Risk” of experiencing material financial impacts from ESG factors, which places Chandra Asri in the top 1 percentile in the Global Commodity Chemical sub-industry as assessed by Sustainalytics.
Sustainalytics’ ESG Risk Ratings measure a company’s exposure to industry specific Material ESG risks and how well a company is managing those risks. This multi-dimensional way of measuring ESG risk combines the concepts of management and exposure to arrive at an assessment of ESG risk, i.e., a total unmanaged ESG risk score or the ESG Risk Rating, that is comparable across all industries. The Sustainalytics rating is yet another accomplishment in advancing Chandra Asri’s ambition to elevate and operationalize the company’s ESG commitment
Chandra Asri again held the fourth Community Awareness activity on Thursday, October 20, 2022. Like the previous event, this annual routine is intended for people who live around the company's gas pipelines to increase their awareness of the risks and impacts that can arise from the gas pipeline's existence. This activity was attended by 62 participants consisting of representatives of the sub-district, representatives of the Bojonegara Police, and representatives of BPBD Kab. Serang, Bojonegara Koranmil, RT and RW representatives, youth, and community leaders.
The socialization of disaster response includes an appeal regarding activities prohibited around the pipeline, such as planting perennials, burning garbage, making excavations, and constructing buildings, as well as actions that the community can take if they find these activities in the gas pipeline. It is hoped that after the implementation of Community Awareness, the community can comply with the rules that have been set in the industrial gas pipeline area to avoid undesirable things such as accidents or industrial disasters.
