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20250402_TPIA_Laporan Informasi dan Fakta Material_31872461_lamp1.pdf
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Press Release Chandra Asri Group and Glencore Complete Acquisition of Shell's Interest in Singapore Energy and Chemicals Park Jakarta, April 2, 2025 — PT Chandra Asri Pacific Tbk (Chandra Asri Group) and Glencore announces the successful completion of the acquisition of Shell Singapore Pte. Ltd.'s (SSPL) interest in the Shell Energy and Chemicals Park (SECP) (now known as Aster Energy and Chemicals Park) in Singapore. The acquisition was carried out through CAPGC Pte. Ltd., a joint venture between Chandra Asri Capital Pte. Ltd., a subsidiary of Chandra Asri Group, and Glencore Asian Holdings Pte. Ltd. (a subsidiary of Glencore), and the deal was finalized through the purchase of shares in Aster Chemicals and Energy Pte. Ltd. (Aster), a wholly owned subsidiary of Shell Singapore Pte. Ltd. The Energy and Chemicals Park comprises a refinery with a processing capacity of 237,000 barrels per day of crude oil, a 1.1 million metric ton per annum ethylene cracker on Bukom Island, and downstream chemical assets on Jurong Island. This acquisition represents a major step, expanding Chandra Asri Group’s strategic footprint in the regional energy, chemicals and infrastructure industry. The facilities will continue to operate under Aster Chemicals and Energy Pte. Ltd, and employees at Aster remaining under the new ownership. President Director and CEO of Chandra Asri Group, Erwin Ciputra said, “This acquisition marks a significant milestone for Chandra Asri Group as we strengthen Indonesia’s energy resiliency and support the growth of its chemical industry. By expanding our strategic footprint through Aster, we are securing vital resources for the country and contributing to Indonesia’s long-term economic stability and global competitiveness. As a growth partner, we look forward to collaborating closely with our partners to drive innovation, operational excellence and sustainable growth in the years ahead.” Managing Director of Glencore Singapore, Quek Chin Thean, said “CAPGC’s acquisition aligns with our broader strategy of investing in high-potential assets and expanding its presence in key markets. The company remains committed to driving innovation, sustainability, and operational excellence across its business activities.” The acquisition of Aster further strengthens Chandra Asri Group’s commitment to support Indonesia’s energy resilience and meet the growing demand for chemical products. Aster will play a key role as the primary supplier of refinery and petrochemical products to address Indonesia’s domestic demand. By leveraging Aster’s world-class refinery and trading hubs, Chandra Asri Group will secure crucial petroleum products and fill gaps in the
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supply of key chemicals including MEG, polyols and various monomers, thus strengthening
Indonesia’s energy security and reduce reliance on imports.
In addition, the optimization of trade between Indonesia and Singapore will be a key aspect
of this synergy. The collaboration in the supply chain, from procurement of raw materials
such as naphtha to the cross-selling of refinery products (Pygas & MTBE) and petrochemical
products (Ethylene, Propylene and Raff-1), will further enhance the efficiency and reliability
of supply, benefiting both markets.
The acquisition is expected to positively impact Indonesia’s economy, with profits generated
from Aster being repatriated and reinvested to support Chandra Asri Group development
and strengthen balanced of payment in Indonesia. Additionally, the expansion will create
200 new job opportunities in Indonesia through the establishment of a company to manage
Aster’s back-end operations.
Chandra Asri Group’s expansion within the ASEAN region will further enhances economic
efficiency, tapping into the region’s projected growth. This partnership, alongside
collaboration with Glencore, will drive innovation, knowledge sharing and technology
transfer, strengthening both companies. By leveraging operation excellence and best
practices, the partnership will bolster Indonesia’s global competitiveness, reinforcing its
position as a leader in advanced industrial practices.
***
About Chandra Asri Group
Chandra Asri Group is a leading provider of energy, chemical, and infrastructure solutions in Southeast Asia,
supplying products and services to various manufacturing industries in both domestic and international
markets. With more than 32 years of history and over 2,200 dedicated staff, it leverages state-of-the-art
technologies and strategically located facilities in Indonesia’s petrochemical and industrial hubs, Cilegon and
Serang. Chandra Asri Group operates the only Naphtha Cracker in Indonesia, producing Olefins (Ethylene,
Propylene), Polyolefins (Polyethylene, Polypropylene), PyGas, and Mixed C4. It is also the sole domestic
producer of Styrene Monomer, Ethylene, Butadiene, MTBE, and Butene-1, with a world-scale Chlor-Alkali
Ethylene Dichloride plant in development. The company's chemical business is supported by core
infrastructure assets, including energy, electricity, water, jetty, and tank farm facilities.
For more information, please visit: www.chandra-asri.com
About Glencore
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and
marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers
and suppliers that spans the globe, Glencore sources, produces and processes, and distributes the
commodities that support decarbonization. It serves industrial consumers across automotive, steel power
generation, battery manufacturing and oil sectors. Glencore has over 150,000 employees and contractors, with
a strong footprint in over 35 countries in both established and emerging regions for natural resources.
For more information, please visit: www.glencore.com
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About CAPGC CAPGC Pte. Ltd. (“CAPGC”) is a joint venture between Chandra Asri Capital Pte. Ltd., a subsidiary of Chandra Asri Group, and Glencore Asian Holdings Pte. Ltd. Chandra Asri Group is Southeast Asia’s leading energy, chemical and infrastructure solutions company, providing a broad range of products and services to key industries. Glencore, one of the world’s largest diversified natural resource companies, is a major producer and marketer of over 60 commodities that support the daily functioning of the global economy. CAPGC combines the extensive experience and expertise of both Chandra Asri Group and Glencore to deliver innovative solutions and expand its capabilities in the energy and chemicals sectors. With a strategic focus on Southeast Asia, CAPGC is committed to driving long-term growth, sustainability, and operational excellence across its portfolio of assets and investments." For further information: Chandra Asri Group Suryandi Chrysanthi Tarigan Director HR & Corporate Affairs Head of Corporate Communications Tel: +62 21 530 5790 Tel: +62 21 530 7950 Email: suryandi@capcx.com Email: corporate.comm@capcx.com Glencore Martin Fewings Charles Watenphul Investors Media Tel: +41 41 709 28 80 Tel: +41 41 709 24 62 Email: martin.fewings@glencore.com Email: charles.watenphul@glencore.com
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Shell Singapore Pte. Ltd.
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CAPGC Pte. Ltd.
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Chandra Asri Capital Pte. Ltd.
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Glencore Asian Holdings Pte. Ltd.
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About CAPGC CAPGC Pte. Ltd.
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