Distopang Kas 1.2 Miliar Dolar AS, Likuiditas Chandra Asri Milik Konglomerat Prajogo Pangestu Kokoh Hingga Kuartal III 2024

Photo: Doc. Chandra Asri Group

JAKARTA - PT Chandra Asri Pacific Tbk (TPIA) reported, until the end of the third quarter of 2024, the company's liquidity level was recorded firmly to support future operational performance, mainly supported by total cash and cash equivalents which reached 1.2 billion US dollars.

"As of September 30, 2024, PT Chandra Asri Pacific Tbk reported a strong liquidity pool of USD 2.3 billion consisting of USD 1.2 billion in cash and cash equivalents, as well as USD 800 million in securities and Available Committed Revolving Credit Facilities amounting to USD 300 million," said Director Chandra Asri, Suryandi, in his statement, Thursday, October 31.

Suryandi further said, Chandra Asri also strengthened its commitment to Indonesia's economic growth through the acquisition of the SECP, whose profits are projected at 8 billion- 10 billion US dollars, in addition to increasing Indonesia's energy security and supporting the chemical sector, as well as domestic infrastructure by ensuring reliable supply of key products, such as gasoline, jet fuel, ethylene and polyethylene fuel.

Meanwhile, the expansion step to the ASEAN region is in line with the latest vision of the company owned by the Prajogo Pangestu conglomerate, which is to become the 'future Energy, Chemical and Infrastructure Solutions Company in Southeast Asia and Chandra Asri's strategy to increase its global presence, taking advantage of the projected market growth of 4.5 percent in 2024 and GDP ASEAN which is estimated to reach 4.5 trillion US dollars by 2030.

"Collaboration with Glencore and the acquisition of the SECP not only strengthen Indonesia's position in the global market, but also encourage innovation. Thus, this increases the company's competitiveness in the energy and chemical sector while contributing to national economic growth," said Suryandi.

In the January-September 2024 period, TPIA recorded a positive EBITDA of US$41.6 million, despite being faced with challenging global market conditions, and the company has completed planned maintenance (TAM) in the third quarter of 2024 which has an impact on operational capacity.

Although this adjustment has a temporary impact on operational capacity, said Suryandi, these efforts are designed to increase overall efficiency and profitability in the long term. Thus, this will benefit the Company's competitiveness in the market.

"By optimizing the process and improving facilities during this maintenance period, Chandra Asri strategically positions himself to achieve greater operational resilience and better performance in the future," said Suryandi.

In addition, TPIA managed to increase its ESG rating, achieved a BBB score from MSCI and lowered its risk score from 16.6 to 16.3, with Morningstar Sustainalytics. This increase positioned the Company among the top in the global chemical industry, thus allowing greater access to sustainable financing, including sustainability-linked loans.

"Collaboration with Glencore and the acquisition of the SECP not only strengthen Indonesia's position in the global market, but also encourage innovation. Thus, this increases the Company's competitiveness in the energy and chemical sector while contributing to national economic growth," said Suryandi.