Starting To Ask For Compensation, Chandra Asri, Owned By Conglomerate Prajogo Pangestu, In Fact, Gets A Lawsuit From The Shipping Company

JAKARTA - PT Chandra Asri Petrochemical Tbk (TPIA) must deal with law enforcement. The reason is that the business entity belonging to the conglomerate Prajogo Pangestu received a lawsuit from the shipping company PT Margo Indonesia Servicestama.

"The company will make its best efforts to prevent greater losses caused by Margo's negligence and the lawsuit filed by Margo," wrote Chandra Asri General Manager of Legal and Corporate Secretary Erri Dewi Riani in an information disclosure to the Indonesia Stock Exchange, Thursday 10 March.

According to Erri's statement, Chandra Asri was sued by Margo Servicestama for material damages of US$300,000 and Rp.100 billion.

Erri also recounted the origin of the lawsuit from Margo Servicestama. Chandra Asri through its subsidiary, PT Styrindo Mono Indonesia, has a ship charter agreement with Margo Servicestama since 2015.

"The company is a ship charterer and Margo Servicestama is the owner of the MT KOAN ship appointed by the company to transport products purchased from third parties," said Erri.

Initially, the company's products were contaminated with other products transported by Margo Servicestama. In fact, said Erri, the company had to bear losses of up to US$2.22 million for the contamination.

To avoid a bigger loss, the company auctioned the contaminated product and sold it to a third party for US$ 897,227. "Meanwhile, the company asked Margo Sevicestama to compensate the remaining $1.32 million," Erri explained.

As time goes by, Margo Servicestama stated that it is ready to compensate for the amount of US$241,995 and will be paid in three stages.

On the other hand, the company made an insurance claim for the incident with Margo Servicestama with a reimbursement from PT Mandiri Axa General Insurance (AXA) amounting to US$ 326,252.

"Here, there is a subrogation receipt. The company provides a statement letter of delegation of rights to AXA to demand payment from Margo Servicestama," said Erri.

Erri also ensured that the company will undergo and respect the court process for the lawsuit filed by Margo. In addition, said Erri, Chandra Asri must go through a legal process starting from the trial process, including mediation, in accordance with the provisions of the civil procedural law of the Republic of Indonesia.

He estimates that the final decision by the West Jakarta District Court will take place at the end of 2022.