Chandra Asri Owned By Conglomerate Prajogo Pangestu Wants AGMS April 18, How Much Dividend To Distribute From IDR 3.3 Trillion Profit?

Illustration. (Photo: Doc. Chandra Asri Petrochemical)

JAKARTA - The petrochemical company owned by conglomerate Prajogo Pangestu, PT Chandra Asri Petrochemical Tbk (TPIA) plans to change the composition of the company's management which will be determined at the Annual General Meeting of Shareholders (AGM).

Chandra Asri scheduled the AGMS on April 18, 2022, at Wisma Barito Pacific Tower B Jakarta at 14.00 western Indonesia time. One of the agendas of the AGMS in the fifth agenda is the change in the composition of the company's management.

"The fifth method in relation to the company is to make adjustments to the composition of the management to improve the company's performance in the future in accordance with the provisions in the articles of association," Chandra Asri, quoted Saturday, March 26.

TPIA is also likely to distribute dividends. The number of dividends will be determined in the second agenda of the AGMS, namely the determination of the use of the company's net profit for the 2022 financial year.

Meanwhile, TPIA recorded positive financial performance throughout 2021 with profit growth reaching 195 percent compared to the previous year. Previously, the Company's Director Suryandi said, 2021 is an important year for Chandra Asri because the company has succeeded in maintaining business continuity, achieving operational excellence, and sustainable financial resilience.

TPIA realized full-year revenue of US$ 2.58 billion, up 43 percent from last year. Furthermore, Chandra Asri also recorded EBITDA throughout 2021 of 356.2 million US dollars, up 91 percent year-on-year.

"The increase in income is also a result of the higher average selling price for all products," Suryandi explained at a press conference, Tuesday, March 15.

As a result, net profit after tax for 2021 is USD 152.0 million, about 3 times the 51.5 million USD recorded in 2020, and 195 percent higher than the previous year.