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 11 December 2018, Chandra Asri held seminar “Innovative Polyethylene for Rotomolding and Wire-Cable to Support Indonesia’s Infrastructure Sector” in Ayana Midplaza, Jakarta. Also inviting Bapak Taufiek 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, Chandra Asri and Styrindo Mono Indonesia (SMI) take part in the National Quality & Productivity Convention (TKMPN) 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, Bapak 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 bond issuance through the Sustainable Public Offering (PUB) Sustainable Bonds II Chandra Asri Petrochemical Phase I 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.