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 27 December 2018 PT Styrindo Mono Indonesia (SMI), a subsidiary of PT Chandra Asri Petrochemical Tbk, received Green category for Corporate Performance Rating Program in Environmental Management (PROPER) in Bidakara, Jakarta. This award was handed-over by Ibu Siti Nurbaya Bakar, Minister of Environment and Forestry Republic of Indonesia to Bapak Syafri Rustam, GM Styrene Production SMI. The green category of PROPER received by SMI is an improvement from Blue category attained in 2017. This year PROPER evaluation resulted with 155 out of 1906 companies awarded with green category. SMI will continue to maintain and improve this achievement and committed to preserve environment through water conservation, energy efficiency, emission reduction, waste management and further contribute to biodiversity.
On 21 December 2018, PT Chandra Asri Petrochemical Tbk’s school assistance, SMAN 5 Cilegon was successfully selected as the National Adiwiyata School. The award was held at the Ministry of Environment and Forestry (KLHK) and was opened by the Minister of Environment and Forestry, Madam Siti Nurbaya Bakar. The awarding of a total of 279 national and independent adiwiyata schools were represented by Mr. Bambang Hendroyono as Secretary General of the Ministry of Environment and Forestry (LHK) and accompanied by the Ministry of Education and Culture. Chandra Asri has been accompanying the journey of SMAN 5 Cilegon since the beginning of 2013. With this award, it is also a sign of the company's commitment to continue to support the improvement of the quality of education in Cilegon.
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 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.
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.