AKRA's Journey: From Basic Chemical Trading to a Coveted Asset for Global Investors

PT AKR Corporindo Tbk (AKRA) plays a significant role in the national industry by channelling energy and raw materials across the Indonesian archipelago. The company’s origins trace back to a basic chemical trading business in Surabaya, pioneered in the 1960s by entrepreneur Soegiarto Adikoesoemo. Soegiarto subsequently established PT Aneka Kimia Raya on 28 November 1977 and relocated the head office to Jakarta in 1985. AKR entered a new chapter after becoming a public company on the Indonesia Stock Exchange (formerly the Jakarta Stock Exchange) in 1994, with an initial share price of Rp4,000. The funds raised were used to develop the company’s infrastructure and build new storage terminals and other assets in Java and Sumatra. At the start of the millennium, AKR expanded its business into the distribution of fuel oil products. As its business portfolio grew, the company’s name was changed from PT Aneka Kimia Raya Tbk to PT AKR Corporindo Tbk. AKR subsequently became the first company to operate in the non-subsidised fuel business. Management noted that the company’s experience and infrastructure in distributing non-subsidised fuel led to it being trusted by the Downstream Oil and Gas Regulatory Agency (BPH Migas) to distribute subsidised fuel starting in 2010. The company has continued to expand its network and now operates storage tanks and terminals at 15 ports across Indonesia. AKR has also invested in port facilities and infrastructure to develop its trading, distribution, and logistics services. In 2011, AKR and its business partner, Royal Vopak, officially established an independent fuel storage terminal named PT Jakarta Tank Terminal (JTT) at Tanjung Priok Port. JTT is now a modern and efficient storage service provider for both international and Indonesian oil companies. Beyond logistics infrastructure, AKR focuses on efficient supply chain technology and operational control throughout Indonesia, introducing an innovative system to monitor and control cargo movement, inventory, and the distribution of industrial and subsidised fuel. The company supplies basic chemicals from global producers such as Asahimas Kimia (part of Japan’s Asahi Glass), Solvay Europe, and the United States. In the fuel segment, AKR supplies refined fuel products from global suppliers to the mining, plantation, power generation, industrial, commercial, and retail sectors through its petrol stations. As of 17 June 2026, PT Arthakencana Rayatama remains the majority and controlling shareholder with a 64.61 percent stake, equivalent to 12.97 billion shares. AKRA’s appeal to global investors is evident, with several large foreign fund managers holding more than one percent. These include Malaysia’s Employees Provident Fund Board with 3.23 percent, the Government of Norway with 2.87 percent, CIM Investment Fund ICAV with 2.11 percent, Aberdeen Asia Focus PLC with 1.24 percent, and Prudential Life Assurance with 1.04 percent. In the first quarter of 2026, AKRA posted a strong performance with net profit attributable to owners of the parent entity reaching Rp656.49 billion, up from Rp565.21 billion in the same period the previous year. This profit increase was supported by a rise in revenue to Rp12.94 trillion from Rp10.26 trillion year-on-year. Gross profit also increased to Rp1.11 trillion from Rp926.61 billion. Total assets as of 31 March 2026 stood at Rp37.06 trillion, up from Rp36.56 trillion at the end of 2025, driven by an increase in cash and cash equivalents to Rp7.28 trillion. Total equity reached Rp16.19 trillion, while total liabilities remained relatively stable at Rp20.88 trillion.