JAKARTA &ndash; PT Chandra Asri Pacific Tbk (TPIA), the petrochemical industrial arm of tycoon Prajogo Pangestu, said its operations are continuing normally despite declaring force majeure earlier this week (2/3).
According to IDNFinancials.com, TPIA declared force majeure following disruptions to raw material supply after shipping routes through the Strait of Hormuz were affected by the conflict involving Iran and the United States&ndash;Israel alliance.
In a clarification submitted to the Indonesia Stock Exchange on Thursday (5/3), the company&rsquo;s Director of Human Resources and Corporate Affairs, Suryandi, said the force majeure declaration is a common procedure in global business practice when facing the risk of external disruptions beyond a company&rsquo;s control.
According to TPIA&rsquo;s management, the move is a precautionary step that must be taken administratively as a form of transparency and risk mitigation to protect partners and customers from potential losses.
&ldquo;The force majeure notification does not automatically reflect a halt in the Company&rsquo;s operations, but rather forms part of risk mitigation against the impact of an evolving external situation,&rdquo; he said.
He stressed that the company&rsquo;s operations remain ongoing, although TPIA will continue to monitor and evaluate potential business risks stemming from global developments.
Management said the company is implementing &ldquo;selective operational adjustments (run rates)&rdquo; in line with supply availability and demand in order to maintain business continuity and ensure supply to customers.
In line with Jakarta Composite Index plunging 4.6% on Wednesday (4/3), TPIA shares also fell 8.15% to IDR 5,350, and remained flat until the end of the first trading session on Thursday (5/3). (ZH)

Operations continue as normal, but adjusted based on run rates to maintain supply.

Hormuz disruption triggers force majeure, TPIA: It is precautionary

JAKARTA - Perusahaan petrokimia terbesar di Indonesia, PT Chandra Asri Pacific Tbk (TPIA), menyatakan force majeure menyusul terganggunya pasokan bahan baku akibat perang Iran yang berdampak pada jalur pengiriman melalui Selat Hormuz.Mengutip laporan Bloomberg, perusahaan yang berbasis di Jakarta itu telah memberi pemberitahuan kepada para pelanggan melalui surat tertanggal 2 Maret. Dalam pemberitahuan tersebut disebutkan bahwa durasi force majeure belum dapat dipastikan.Dalam pernyataan resminya pada Selasa, manajemen menyatakan tengah memantau secara ketat perkembangan situasi antara Amerika Serikat dan Iran, serta telah menerapkan langkah-langkah pencegahan guna menjaga ketahanan operasional di seluruh unit bisnis.
Sebagai bagian dari upaya tersebut, perusahaan akan menyesuaikan tingkat operasi (run rate) di sejumlah pabriknya.Konflik yang melibatkan Iran, Israel, dan Amerika Serikat telah mengganggu arus pengiriman minyak melalui Selat Hormuz.
Sejak serangan terjadi di kawasan itu, hanya sedikit kapal tanker yang melintas. Padahal, sekitar seperlima pasokan minyak dan gas alam cair (LNG) dunia melewati jalur perairan sempit tersebut.TPIA mengoperasikan kompleks petrokimia terintegrasi terbesar di Indonesia yang memproduksi olefin dan poliolefin. Perusahaan ini juga memiliki serta mengelola aset kilang dan kimia hilir di Singapura melalui skema joint venture.
Portofolionya mencakup kilang berkapasitas 237.000 barel per hari dan pabrik naphtha cracker dengan kapasitas 0,9 juta metrik ton per tahun.Dari segi kinerja saham, pada perdagangan Selasa (3/3), harga saham TPIA turun 2,5% ke level Rp 5.825 per lembar. Angka tersebut menyentuh level terendah dalam hampir satu tahun terakhir. (DK)

TPIA nyatakan force majeure dan setop sebagian produksi akibat gangguan pengiriman di Selat Hormuz.