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.
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On September 13, 2013, PT Chandra Asri Petrochemical Tbk (the Company/ CAP) signed cooperation contract of Engineering, Procurement, and Construction (EPC) for the construction of production facility of the Company's Naphtha Cracker with Toyo Engineering Corporation. This contract was signed by Paramate Nisagornsen from CAP and Toyo represented by Tadashi Hori (President Director of IKPT), Hideki Shiinoki (Director of Toyo), and Takashi Kawahara (Sales Director of Toyo for Asia Pacific). Through the expansion of this facility, the Company's Naphtha Cracker production capacity will increase up to 43%, and followed by the increase in the production of Company's petrochemical products. The expansion is part of the Company's strategic plan to further strengthen its leading position to fulfill the growing demand of petrochemical products in Indonesia.
On Monday, June 17, 2013 was held the Joint Venture Agreement Signing Ceremony between PT Petrokimia Butadiene Indonesia (PBI), a wholly-owned subsidiary of PT Chandra Asri Petrochemical Tbk (CAP), and the Compagnie Financière Du Groupe Michelin (Michelin) which create a Joint-Venture company, to produce Synthetic Rubber. The signing ceremony was held in Wisma Barito Pacific, Jakarta, and was attended by representatives of both parties. The Agreement was signed by Luc Minguet (Senior Vice President/ Chief Procurement Officer) and Chan Hock Sen (Vice President, Legal & Tax Services, Asia Pacific) as the representatives of Michelin, while PT Petrokimia Butadiene Indonesia was represented by Erwin Ciputra (President Director of CAP & PBI), Paramate Nisagornsen (Vice President Director of CAP & PBI), and Suryandi (Director of PBI). The synthetic rubber plant will be the first in Indonesia and will produce feedstock for the industry of environmentally friendly tire in line with the trend of eco-friendly tire usage globally.