1 · Sep · 2020
PCG and PT AKR Join Forces to Distribute Chemicals in Indonesia
Kuala Lumpur/Jakarta, 1 September 2020 – PETRONAS Chemicals Group Berhad (PCG) will collaborate with PT AKR Corporindo Tbk (PT AKR) to distribute chemicals across Indonesia. A joint venture company will be formed by the subsidiaries of PCG and PT AKR respectively for this purpose.
PT AKR Corporindo Tbk is an Indonesian logistics and supply chain company, engaged in the trading and distribution of petroleum and basic chemicals with extensive network of liquid bulk and dry bulk storage, transportation facilities, and port operations.
PETRONAS Chemicals Marketing Sdn Bhd (PC Marketing), a subsidiary of PCG and PT AKR Niaga Indonesia (PT ANI), a subsidiary of PT AKR recently signed an agreement to formalise the joint venture. Signing on behalf of PC Marketing was its Chief Executive Officer, Mr. Shakeel Ahmad Khan, while PT ANI was represented by its Directors, Ms Mery Sofi and Ms Nery Polim. PCG’s Managing Director/Chief Executive Officer (MD/CEO), Datuk Sazali Hamzah and PT AKR’s President Director Group CEO Mr. Haryanto Adikoesoemo were present to witness the first virtual signing for both parties that was held in Kuala Lumpur and Jakarta simultaneously.
The partnership leverages both companies’ strengths to bring greater value to Indonesia. At the same time, PCG and PT AKR will work together to deliver innovative customer solutions to meet customers’ diverse needs. Methanol will be the first product to be distributed to customers in Indonesia.
Commenting on the partnership, Datuk Sazali Hamzah said, “Southeast Asia is an important market for us. Having an established local partner in Indonesia with a strong logistic infrastructure and market presence would enable us to grow our network and serve our customers more effectively. PT AKR’s experience in serving the methanol market is synergistic to PCG’s business. Beyond distributing methanol, we also aspire to extend the chemical range to include other chemical products in the future.”
Mr. Haryanto Adikoesoemo said, “We are excited to be partnering with one of the largest integrated chemicals producer in Southeast Asia. Our partnership with PCG marks a significant step in our expansion strategy and strengthens our position as one of the major petroleum and chemicals distributors in Indonesia. PT AKR with over six decades of experience in delivering reliable, efficient logistics and supply chain solutions with infrastructure such as seaports, river ports, terminals and marketing network is ready to support this joint venture. We are confident that together we have unmatched capabilities to deliver high-value innovative solutions to customers across Indonesia.”
About PETRONAS Chemicals Group Berhad
PETRONAS Chemicals Group Berhad (PCG) is the leading integrated chemicals producer in Malaysia and one of the largest in South East Asia. It operates a number of world-class production sites, which are fully vertically integrated from feedstock to downstream end-products. With a total combined production capacity of 12.8 million metric tons per annum (mtpa), it is involved primarily in manufacturing, marketing and selling a diversified range of chemical products, including olefins, polymers, fertilisers, methanol and other basic chemicals and derivative products. Listed on Bursa Malaysia and with three decades of experience in the chemicals industry, PCG is established as part of the PETRONAS Group to maximise value from Malaysia’s natural gas resources.
PCG is one of the top 10 companies in the FTSE4Good Bursa Malaysia (F4GBM) Index, out of 200 largest companies ranked by market capitalisation. It is committed to ensuring that its business practices are in line with globally recognised standards for Environment, Social & Governance (ESG) practices.
About PT AKR Corporindo Tbk
PT AKR Corporindo Tbk (PT AKR) was formally established in Surabaya in 1977 and was listed on the Indonesian Stock Exchange in 1994. PT AKR is Indonesia’s leading integrated supply chain solutions provider and largest private sector distributor of petroleum and basic chemicals. PT AKR is one of the leading distributors of basic chemicals, serving various sectors of the Indonesian economy providing value added solutions for raw material needs of customers, with long standing relationships with international principals. The Company is also the largest private sector distributor of Petroleum products supplying to Industrial, mining, plantation and other sectors and is the only private company appointed by the Government of Indonesia to distribute subsidized retail petroleum; currently partnering with bp, opened non-subsidized gasoline stations, commenced aviation fuel operations and lubricant business. Through a number of subsidiaries, it governs, the Company also operates in the areas of logistic services and manufacturing.
For more information, please contact:
Yogeswari Thangavelu
Media Relations, Corporate Affairs & Administration Department
PETRONAS CHEMICALS GROUP BERHAD (PCG)
Suresh Vembu
Director & Corporate Secretary
PT AKR Corporindo Tbk
M : (62) 8129211640
