JAKARTA - PT Chandra Asri Pacific Tbk or Chandra Asri Group (TPIA), achieved a net income of 472 million US dollars per first quarter of 2024. The revenue was obtained from the chemical and infrastructure business, which amounted to 447 million US dollars and 24.7 million US dollars, respectively.
The company also reached EBITDA with a position of US$1.1 million in the first quarter of 2024.
"Chandra Asri Group also recorded a strong liquidity pool as of March 31, 2024 with a total liquidity pool of US$2.38 billion consisting of cash and cash equivalents of US$1.030 billion, securities worth US$1.121 billion, and the available commitment-revolving credit facilities of 226 million US dollars," said Director Chandra Asri Group, Suryandi, in his official statement, Thursday, May 2.
Suryandi said, during the first quarter of 2024, the Company managed to balance business growth with environmental management, social responsibility, and strong governance practices. He continued to state, Chandra Asri Group again achieved significant achievements in the plan to build Chlor-Alkali and Ethylene Dichloride on a world scale with the signing of a three-year salt offtake contract with an option of extension for the next three years with BCI Minerals Ltd.
This offtake agreement is related to the annual supply contract of 300,000 tons which will increase to 600,000 tons of salt per year. BCI is looking for an off-taker investment grade, and after a detailed due diligence on the quality of ESG credit and credentials, Chandra Asri Group is considered an Acceptable Counterparty for Mineral BCI Project Financing.
"Together with other previous initiatives, namely the potential for strategic partnerships with INA, partnerships with world-class license givers, and the potential for collaboration with INALUM, these initiatives highlight our commitment to strengthening the dynamic electric vehicle industry and expanding our presence in the market," he said.
In the first quarter of 2024, Chandra Asri Group also succeeded in issuing 4th stage IV Shelf-Registered Bonds with a total amount of Rp1.5 trillion. The bonds experienced excess demand due to high interest in retail, banking and institutional investors.
This achievement, he continued, reflects the high confidence of domestic investors in the company's performance and financial strength.
SEE ALSO:
"We are pleased that this bond program offers credible options for investors who want to increase their profits, balanced with a holistic focus in maintaining high environmental, social and governance standards," explained Suryandi.
In connection with ESG (Curities, Social, and Governance), he said, Chandra Asri Group received important recognition for efforts to disclose climate change, by winning a Score B from the Carbon Disclosure Project (CDP).
CDP is a global non-profit organization that facilitates the disclosure of information on the impact of the company's environment. Known for maintaining the world's most comprehensive environmental database, CDP sets industry standards for environmental reporting.
CDP ranking is highly viewed and influential, guiding investment decisions and procurement practices towards an economy that adheres to carbon neutrality, sustainability, and resilience.
"The confession given by Chandra Asri Group by the CDP reaffirms its dedication to environmental practices that are transparent and have an impact, in line with global sustainability goals and principles. This achievement underscores the company's firm commitment to sustainability, safety, and standards that should be imitated," concluded Suryandi.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
