TPIA Declares Force Majeure as Share Price Slumps

KOMPAS.com - The rise in global crude oil prices due to armed conflict in the Middle East is weighing on PT Chandra Asri Pacific Tbk (TPIA). The impact was visible in the company’s share movement in Wednesday’s trading (4 March 2026).

RTI data shows TPIA’s share price fell 6.87% to Rp 5,425 per share at 10:44 WIB.

Global oil price, West Texas Intermediate or WTI, at the same time rose 0.24% to $74.74 per barrel. Assuming an exchange rate of Rp 16,800 per $1, the price equates to roughly Rp 1,255,632 per barrel. Over the past week, WTI has surged 15.53%.

Reuters on 3 March 2026 reported security conditions around the Strait of Hormuz disrupted maritime transport activities significantly. The situation has had material impact on the shipment and receipt of feedstock.

“This is primarily due to the security situation in and around the Strait of Hormuz which has resulted in significant disruptions to maritime transport activities and, materially, disrupted the delivery of our raw material supplies,” the company said.

The declaration of force majeure occurs when conditions arise beyond control that hinder the fulfilment of contractual obligations. This status gives the company leeway to delay or cancel shipments without penalties under contract.

This article has appeared on Kontan with the headline Harga Saham Chandra Asri Pacific (TPIA) Anjlok Imbas Konflik di Timur Tengah.