PT AKR Corporindo Tbk, hereinafter referred to AKR, which was born as a small chemical trading business over 55 years in Surabaya has grown to become one of Indonesia’s largest private sector distributor of basic chemicals, Petroleum, logistics and supply chain solutions. Mr Soegiarto Adikoesoemo, entrepreneur and business man from Surabaya started this business in 1960 and later incorporated PT Aneka Kimia Raya on November 28, 1977. The Company moved its headquarters to Jakarta in 1985.
The founder and his son Mr Haryanto Adikoesoemo had the vision and long term strategy to develop infrastructure in major ports of Java Island in 1980’s to represent global principals and distribute chemicals to Industrial customers and grew to become the largest basic chemical distributors in 1980’s . In 1994, AKR opened a new chapter in its business development by becoming a public listed company on the Indonesian Stock Exchange (previously Jakarta Stock Exchange). The proceeds from the rights issue was utilised to further develop the compny’s infrastructure and build new Storage terminls and other assets in Java and Sumatra islands.
AKR is one of the few Indonesian companies that embarked on investments in China, realising the tremendous potential offered by building Khalista Liuzhou Chemical Industries a Sorbitol manufacturing plant in 1994 in Liuzhou City, Guangxi Province. This factory supplies Sorbitol used in oral care and pharmaceutical applications.
In the first decade of this millenium AKR expanded its business area to distribution of Petroleum products expanding on the existing infrastructure. As its business portfolio grew and as AKR’s business not only focused on basic chemicals but now included Energy, logistics and manufacturing, the Company’s name was changed from PT Aneka Kimia Raya Tbk., to PT AKR Corporindo Tbk., reflecting the larger business scope and opportunities.
In 2005, AKR became the first Private sector company to start Petroleum distribution business importing the first cargo of Petroleum products from Singapore on 1st October 2005 right after the government deregulation of the downstream petroleum sector. AKR has expanded its network and now has Storage tanks and terminals in 15 major sea ports and river ports across the Indonesian archipalego. AKR has also has a fleet of Self propelled oil barges, Petroleum and chemical trucks delivering petroleum and basic chemicals to over 2,000 industrial companies across Indonesia and bringing considerable value to the customers.
Realising the extensive experience and ability to deliver Petroleum products the Downstream Oil and Gas Regulatory Body (BPH Migas) entrusted AKR as the only Private sector company to distribute subsidized petroleum since 2010. AKR currently operates 130 AKR brand petrol stations that sell high quality Diesel and gasoline to motorists and fishermen in Java, Sumatra, Kalimantan and Sulawesi islands.
AKR is now known as a leading provider of third party logistics services, supply chain infrastructure in Indonesia. AKR made its foray into Port operations in China by acquiring five river ports in Guiang, Guangxi Province China and has since modernised and expanded the ports into modern Container and bulk commodity ports offering efficient port opeations in the Pearl river.
AKR continues to invest in Port facilities and other infrastructure in Indonesia to grow its trading and distribution and logistics business. In 2011, AKR along with its joint venture partner, Royal Vopak, commissioned the largest independent petroleum storage terminal, PT Jakarta Tank Terminal (JTT) in Tanjung Priok Port. JTT now is providing modern, efficient terminalling facilities to International oil majors, Indonesian corporates and is a showpiece infrastructure for Indonesia.
AKR invests not in hard assets but also in Technology to provide efficient supply chain solutions and control its operations across Indonesia. It has introduced innovative technology system that monitors and controls cargo movements, inventory and distribution of industrial and subsidized petroleum. With these IT systems, data regarding the delivery to industrial customers, refueling of a vehicles in Petrol stations can be monitored and reported on real time basis. Use of Innovative technology solutions brings considerable cost savings and efficiencies to our customers but also assists the Government body BPH Migas to supervise and control the distribution of subsidised petroleum without misuse.
Today, AKR is the supplier of choice to industrial companies in Textiles, Alumina, Chemical Industry, Soap and detergent industries, construction and consumer related industries supplying basic chemicals which are raw materials and represents World class producers of chemicals like Asahi mas chemicals (part of Asahi glass, Japan), Solvay Europe and USA amongst others.
AKR is supplying refined Petroleum products from International refineries to Mining industry, Government power utility (PLN), industrial and commercial establishments and also to the retail sector through its petrol stations. AKR’s subsidiaries PT AKR Sea Transport Indonesia, operates in sea logistics for fuel services distribution while PT .AKR Transportasi Indonesia operates more than 400 tracks for land transportation.
Realising the need to provide efficient industrial zone for Indonesian and International industries, AKR along with Pelindo III has embarked on building Indonesia’s first Integrated industrial complex – Java Integrated Industrial Ports and Estate (JIIPE) in Manyar, Gresik, East Java. This industrial estate and Ports project encompasses a total of over 3,000 hectares including a residential estate being constructed by AKR’s sister company PT AKR Land development.
The project under development since 2013 aims at providing efficient logstics facilities, energy and infrastructure solutions to industry being located in the strategic area of East Java with extensive multi – modal transportation facities such as deep sea port, toll road, railway sidings and very close to Surabaya International facilites.
JIIPE will also provide efficient and assured supplies of Power, clean water, water treatment facilities and is being developed as a long term solution adding significant value to Indonesia.
AKR shares trade under Stock ticker “AKRA” and are part of the LQ 45 index and over 40% of the shareholdings are held by International and Indonesian investors delivering significant returns to the shareholders.
AKR continues to constantly improve its operations while providing Strong Stable and Sustainable return to its stakeholders.