PT AKR Corporindo Tbk, hereinafter referred to the Company, was founded November 28, 1977 in Surabaya as PT Aneka Kimia Raya. Initially, the Company only focused on basic chemicals trading. As it developed, the Company moved its headquarters to Jakarta in 1985.
In 1994, the Company opened a new chapter in its business development by becoming a public listed company on the Indonesian Stock Exchange (previously Jakarta Stock Exchange). As it developed, the Company's business lines no longer focused only on basic chemicals trade and in 2004 the Company changed its name to PT AKR Corporindo Tbk.
In 2005, right after the government deregulation of the oil and gas sector, the Company became the first national private company operating in the non-subsidized petroleum sector. In addition, the Company also became the first national private company entrusted by the Downstream Oil and Gas Regulatory Body (BPH Migas) to distribute subsidized petroleum since 2010.
Currently the Company is known as a leading provider of logistics services, supply chain and infrastructure in Indonesia. The Company is not only operating business in Indonesia, but also in China along with the acquisition of Khalista (Liuzhou) Chemical Industries Ltd, a manufacturer of sorbitol in 2004. Then in 2006, the Company acquired five river ports in China and has been investing in the ports development.
The Company has petroleum storage tanks located across Indonesia. The Company operates in ten seaports and nine river ports in Indonesia as well as river ports in Guigang, China. The Company continues to expand its operations by building storage tank terminals to strengthen its distribution business and logistics network in the future.
With these advantages, the Company has transformed into one of the largest private distributors of petroleum and basic chemicals in Indonesia. In addition, through its subsidiaries, the Company also engages in manufacturing and coal mining and trading.
In the subsidized petroleum distribution area, the Company introduced an innovative technology system that monitors and controls subsidized petroleum. With this system, data regarding the refueling of a vehicle can be detected. If the maximum amount of subsidized petroleum for a vehicle is reached, the fuel pump will stop filling the vehicle. Similar technology will be adopted by the Government to supervise and control the distribution of subsidized petroleum.
At the end of 2012, the Company received an assignment from BPH Migas to distribute 267,892 KL of subsidized petroleum for the year 2013. BPH Migas also reserved a further allocation of 612,958 KL as an additional allocation. By mid-2013, the Company received all the additional allocation of subsidized petroleum reserved. The quota increase further strengthened the Company’s position as one of the major distributors of petroleum. For the year 2014, the Company received an allocation of 640,000 KL of subsidized petroleum to distribute to motorists and fisheries.
In the same year, the Company's subsidiary, PT AKR Transportasi Indonesia, officially started operating in logistics services. This company is a business development of the Company’s land transportation.