TPIA - PT. Chandra Asri Pacific Tbk

Rp 9.100

-50 (-0,55%)

JAKARTA – The Ministry of Law and Human Rights have approved the name change of PT Chandra Asri Petrochemical Tbk (TPIA) to PT Chandra Asri Pacific Tbk (TPIA), yesterday (3/1). This modification is a business transformation initiative coinciding with its business portfolio diversification in basic chemical and infrastructure sectors.

Suryandi, Director of Human Resources and Corporate Affairs of Chandra Asri Group, mentioned that this name modification is expected to offer maximum benefits for all stakeholders. “We thank all the Company's customers and partners for their consistent and never-ending support, which has enabled Chandra Asri Group to continue to grow and make positive contributions to Indonesia.",” he said in the press release on Friday (5/1).

The diversification initiated by TPIA is meant to improve its performance, including the acquisition of PT Krakatau Chandra Energi and PT Krakatau Tirta Industri through its subsidiary, PT Chandra Daya Investasi (CDI), in 2023. In addition, it also aims to establish chlor-alkali and ethylene dichloride (CAA-EDC) production plants through its subsidiary, PT Chandra Asri Alkali.

According to Suryandi, the change in the company’s name to Chandra Asri Pacific highlights business steps of the company and will provide impact for stakeholders. “Our commitment to customers and partners will remain the Company's highest priority, while opening up new opportunities to serve more customers,” he added.

It is known that the Extraordinary General Meeting of Shareholders approved this change in TPIA’s name last week (29/12). (LK/ZH)