On 15 November 2019, PT Chandra Asri Petrochemical Tbk held an Extraordinary General Meeting of Shareholders (EGMS) followed by a Public Expose 2019. Located at Wisma Barito Pacific, Jakarta, the meeting was attended by the Board of Commissioners and Directors of Chandra Asri.
Throughout the meeting, a merger plan between Chandra Asri and its subsidiary, PBI, was approved. This merger will improve the efficiency and effectiveness of the daily business activities of Chandra Asri. There is no work termination of employment because all PT PBI employees will become Chandra Asri employees.
In addition, the shareholders have approved the appointment of Mr. Tanawong Areeratchakul as a new member of the Board of Commissioners, replacing Mr. Cholanat Yanaranop, for the period from the close of the meeting until closing of the next Annual General Meeting of Shareholders which will be held in 2021.
On 12 September 2019, PT Chandra Asri Petrochemical Tbk (CAP) inaugurates waste recycling facility, known as Zero Waste Management Industry (IPS Masaro for short) in Cilegon. IPS Masaro is concept to encourage the community to change the old conventional way of waste disposal, collect-transport-throwaway to segregate-transport-process, where all waste collected is processed leaving zero waste. Organic waste will be processed into liquid fertilizer and mulch, meanwhile the non-organic waste will processed into fuel and waste with no economic value will go into an incinerator, where plastic waste is processed into fuel in high temperature, and into pyrolysis machine which also produces fuel to operate machine in IPS Masaro.
This facility was built by a solid partnership among Indonesia Olefin, Aromatic and Plastic Industry Association (INAPLAS), Institut Teknik Bandung (ITB), the regional government and the local communities in implementing Masaro. Among the three pyrolysis machines in IPS Masaro, one gas-fueled machine is a modification by an 11th grade volunteer named John Leiman from Jakarta Intercultural School. CAP welcomes and appreciates John’s enthusiasm and contribution, through his work with the smaller scale pyrolysis machine in IPS Masaro.
IPS Masaro will process household waste from approximately 1000 families, with waste segregation conducted by the members of families at home. Separated waste will be exchanged with incentives of daily household products obtained at the Masaro facility regularly.
As a pleasant form of education on the proper waste management system, PT Chandra Asri Petrochemical Tbk joined Jak-Japan Matsuri Festival 2019 event to socialize Let’s Segregate Our Waste, Like Japanese Culture. CAP presents a booth that contains exciting games for two days, 7-8 September 2019. This friendly relations festival between Indonesia and Japan held at the Gelora Bung Karno Plaza, Jakarta, is crowded with young people who are the main target in behavior change in managing waste.
On 6 September 2019, Chandra Asri and PT Styrindo Mono Indonesia (SMI), a subsidiary of PT Chandra Asri Petrochemical Tbk, won the Gold Award at Awarding Night of Indonesian Sustainable Development Goals Awards (ISDA) organized by Corporate Forum for Community Development (CFCD). ISDA is an appreciation event for companies that are considered in empowering the community through CSR programs that are in line with Sustainable Development Goals (SDGs).
This award is a proof of company commitment in developing CSR programs that are sustainable and in line with SDGs values in order to achieve global development goals.
In 25 July 2019, PT Chandra Asri Petrochemical Tbk (CAP) represented by Bapak Suryandi, the company’s Director, received 3rd place award of Indonesia Best Public Companies by SWA Magazine. This award main indicator was Wealth Added Index (WAI), that is a benchmark towards issuers with ability to return share price gains and dividends, more than its cost of equity, to its investors.
Every year, SWA Magazine releases 100 Best Wealth Creator companies in Indonesia (SWA 100). This year’s award that CAP received indicates improvement by five ranks, from ranking 8 received in 2018. CAP is also the only non-bank companies that ranked Top 5 in SWA 100, year 2019.
On 24 Juli 2019, Mubadala, OMV, Chandra Asri Petrochemical have signed a Memorandum of Understanding to explore opportunities for collaboration in the petrochemical sector in Indonesia. The Memorandum of Understanding documents the intention to explore potential opportunities for collaboration in the area of petrochemicals in Indonesia. The companies will set up working groups to jointly define a schedule for the evaluation of the opportunities.
The signing of the agreement was witnessed by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and His Excellency Joko Widodo, President of the Republic of Indonesia. The agreement was signed by Mr. Musabbeh Al Kaabi, CEO of Petroleum & Petrochemicals Mubadala Investment Company, Dr. Rainer Seele, CEO of OMV and Erwin Ciputra, President Director of PT Chandra Asri Petrochemical Tbk and PT Chandra Asri Perkasa.
This collaboration is one proof of the company's commitment to serving Indonesia’s promising market potential, and supporting the country’s demands for growth, economic prosperity and industrialization.