On 2 February 2018, PT Chandra Asri Petrochemical Tbk has commenced the groundbreaking of a new Polyethylene Plant project with a capacity of 400 KTA. The ceremony was taken place at CAP’s integrated petrochemical complex in Cilegon, Banten province where the new plant will be constructed. Symbolically, the project’s groundbreaking was marked with commitment banner signing by CAP management which represented by Mr. Erwin Ciputra –President Director, and representatives from EPC contractors which includes Toyo Engineering Corporation (Toyo-Japan) by Mr. Tomohisa Abe – Director, Toyo Engineering Korea Limited (Toyo-Korea) by Mr. Toru Osanai – President & CEO, and PT Inti Karya Persada Tehnik (IKPT-Indonesia) by Mr. Eiji Hosoi – President Director.
This new PE plant facility will produce High Density Polyethylene (HDPE), Linear Low Density Polyethylene (LLDPE), and Metallocene LLDPE (mLLDPE). Some of the product applications for LLDPE and HDPE among others as blown film, rice bag, toy, bottle lid, shopping bag, houseware, rope, tarpaulin, pipe, container box, etc.
Shares of PT Chandra Asri Petrochemical Tbk (ticker code: TPIA) joined LQ45 Indonesian Stock Exchange (BEI) for period of February-July 2018. This is the first time for TPIA coming into the ranks 45 most liquid shares listed on IDX. The entry of TPIA to the LQ45 index is a proud achievement as it is an indication of the high level of market confidence towards fundamental/performance aspects of the Company. TPIA is also considered to have liquidity and market capitalization to be reckoned with as LQ45.
On 24 January 2018, a day after the 6.4 magnitude earthquake that shook Lebak District, Banten, PT Chandra Asri Petrochemical Tbk visited two of the most affected districts, Panggarangan and Malingping Subdistricts. Hundreds of homes in both locations suffered minor or severe damage caused by the earthquake. The company's CSR team came to give moral support and distributed donation of basic food and clothing to earthquake victims who have returned to their homes, and those who still survive in the camps. This assistance comes from the Company's year-end program, Year End Giving, which raised funds from all employees and involves CAP’s Mosque Welfare Council (DKM), CAP’s Alms Agency (BAZIS), and the Company’s Cooperatives.
On 21 December 2017, PT Chandra Asri Petrochemical Tbk and its subsidiary, PT Styrindo Mono Indonesia (SMI) received respectively Level 5 Green Industry Award 2017. This award was given by the Secretary-General of the Ministry of Industry, Bapak Husni Munandar to the Company’s Management representatives, Bapak Ruly Aryawan and Bapak Boedijono Hadipoespito, at the award ceremony held by Ministry of Industry in Jakarta. Through this achievement, the Company and SMI considered to meet the standard in increasing the efficiency and effectiveness of production and has been applying the principles of green industry in its operation.
On 8 December 2017, PT Chandra Asri Petrochemical Tbk together with PT Bukit Asam Tbk, PT Pertamina (Persero) and PT Pupuk Indonesia (Persero) signed a Head of Agreement of Coal Gasification Cooperation Becoming Syngas as Feedstock of Urea, Polypropylene and Dimethyl Ether Products. Through this partnership, the Company will be able to produce Polypropylene with coal as its feedstock. This coal-based Polypropylene can help Indonesia meet domestic needs while reducing imports of polypropylene, which are still a large and growing. In addition, Indonesia will also gain higher added value from coal, which is currently used only as fuel for power plants and export commodities.
On December 6, 2017, PT Chandra Asri Petrochemical Tbk participated in donating 200 seedlings of horticulture trees to be planted in the Commemorate of Indonesia's Tree Planting Day and National Tree Planting Month 2017 of Banten Province level. The Company's involvement in greening Banten is an effort in conserving the environment and biodiversity as well as a form of commitment in optimizing conservation and natural resources. A total of 20 thousand tree seedlings from various types of plants are planted in the area of Larangan Desa Forest, Kampung Cokel, Lebak, Banten. Participated in the activity held by the Banten Provincial Government through the Department of Environment and Forests (LHK), the Deputy Governor of Banten, Bapak Andika Hazrumy and representatives of 13 institutes, as well as 50 other companies from Banten area.
PT Chandra Asri Petrochemical Tbk is partnering with Happy Hearts Indonesia, a non-profit social organization, to rebuild the school building of Early Childhood Education (PAUD) Barokah 1, located in Kepuh Village, Cilegon. After three months of construction, on 4 December 2017 PAUD Barokah 1 was re-opened, inaugurated by VP Corporate Relation, Bapak Suhat Miyarso, and CSR Department Manager, Bapak Abraham Sinatrawan. Previously, on 11 September 2017, the groundbreaking ceremony was held as the initial sign of the construction. With the reconstruction of this school building, it is expected that the local children would gain access to better education.
PT Chandra Asri Petrochemical Tbk won two Gold Awards and one Silver Award in the convention forum of "Temu Karya Mutu & Produktivitas Nasional (TKMPN) XXI dan International Quality & Productivity Convention 2017 (IQPC)” held in Padang, West Sumatera, on 27 -30 November 2017. This is the third time for the Company in participating in this forum. Last year, the Company won a Gold Award in the same event which took place in Bali. These achievements and awards are expected to encourage all employees to constantly innovate to solve problems in their work unit.
On 30 November 2017, PT Chandra Asri Petrochemical Tbk was awarded two Gold Awards in the Indonesian CSR Award 2017 for Industry and Manufacturing Sector category. This award from the Corporate Forum for Community Development (CFCD) was handed over by Expert Staff of the Ministry of Research, Technology and Higher Education, Bapak Hari Purwanto, to the Company’s representatives, Bapak Suhat Miyarso and Bapak Abraham Sinatrawan. This award is an appreciation for the Company’s commitment in developing quality of life of the surrounding communities through sustainable CSR programs.
On 27 November 2017, PT Chandra Asri Petrochemical Tbk received the Good Corporate Governance (GCG) Award in The 9th IICD Corporate Governance Award 2017 for the Top 50 Biggest Market Capitalization Public Listed Companies category. This annual awards ceremony is an appreciation from the Indonesian Institute for Corporate Directorship (IICD) to public companies deemed to be committed to running GCG. Previously, the Company was included in the list of preferred companies that received GCG Award for Top 50 Public Listed Company (2016 and 2015) and The Best Improved (2015) categories.