Chandra Asri (TPIA) Unveils 2026 Business Strategy
Jakarta — PT Chandra Asri Tbk (TPIA) has revealed plans to monitor developments in global geopolitics and the broader economy that will influence demand, whilst strengthening the company’s operations in 2026.
Suryandi, Director of Human Resources and Corporate Affairs at TPIA, stated that the company’s business this year remains clouded by global uncertainty. Despite this, the company’s latest financial report for the third quarter of 2025 recorded an improvement in performance, growing 2,950 per cent and posting profits.
According to him, the petrochemical industry faces multiple challenges this year, including global geopolitical dynamics, oversupply of petrochemical products, and fierce price competition.
“For our core business in petrochemicals, margins remain very challenging. There are geopolitical dynamics, competition from competitors, and product oversupply,” he said during a discussion with TPIA management in Jakarta on Wednesday, 25 February 2026.
Additionally, China’s slower economic growth compared to previous years has impacted the petrochemical industry. “For 2026, we still see that petrochemical industry margins will remain thin,” he added.
Consequently, Suryandi explained, TPIA will focus on strengthening operational fundamentals. He noted that management has chosen to maintain stability, minimise risk, and ensure production continuity. This is reflected in the company’s entry into the infrastructure business beginning last year.
This step was taken to reduce dependence on petrochemical industry cycles, create more stable revenue streams, and provide greater contribution compared to 2025.
“To protect income or anticipate and provide more certain results, we entered the infrastructure business last year. This will certainly have a greater effect than 2025,” he explained.
Suryandi stated that TPIA will maintain the reliability of factory operations, particularly facilities in Cilegon and Singapore. He noted that operational disruptions can have very significant impacts. “Just one day of shutdown at our Cilegon factory could result in a loss of US$3 million, so we must protect factory operations,” he said.
According to him, this includes not only loss of production revenue, but also concerns regarding customer trust and domestic supply stability. “So we must protect this. If it happens, the imports we hoped would decline will not fall,” he added.
As background, PT Chandra Asri Pacific Tbk (TPIA) posted net profit after tax of US$1.65 billion through Q3 2025. This result surged 2,950 per cent and reversed from a previous loss of US$58.5 million in the same period the previous year.
Total net revenue of the petrochemical company owned by Prajogo Pangestu jumped more than four times to US$5.1 billion in the first nine months of this year.
Breaking this down, the largest revenue came from chemicals at US$2.7 billion, up 132.8 per cent year-on-year. This was followed by the refining segment, which rose 100 per cent year-on-year to US$2.31 billion in Q3 2025, and infrastructure at US$98.9 million.
TPIA also reported operating cash flow of US$75.3 million and deployed capital expenditure of US$355.5 million.
The company’s assets nearly reached US$11 billion, up 93.7 per cent since the end of 2024. Total liabilities were recorded at US$6 billion, up 120 per cent from the end of last year, and equity stood at US$5 billion, up 69.3 per cent from the end of last year.
Chandra Asri reported that in the energy sector it has strengthened regional expansion by acquiring ExxonMobil’s Esso retail petrol station network in Singapore. This step was undertaken through a special purpose entity under TPIA’s subsidiary.
Meanwhile, in the chemicals sector, construction of the Chlor-Alkali and Ethylene Dichloride (CA-EDC) factory in Cilegon has reached 33 per cent progress. The factory is projected to reduce dependence on imported chemicals and potentially save up to Rp10 trillion per year.
Through subsidiary PT Chandra Daya Investasi Tbk (CDIA), TPIA has also strengthened the infrastructure sector by adding two chemical tankers, 20 new trucks, and expanding its solar energy portfolio to 11 MWp following its initial public offering.
“In line with this positive momentum, the Group has announced an interim dividend distribution of US$20 million, affirming our commitment to creating sustainable value for shareholders as we pursue our journey to build the region’s leading integrated energy, chemicals and infrastructure platform in Southeast Asia,” said Andre Khor, Director and Chief Financial Officer of TPIA.