PT. AKR Corporindo, Tbk

AKRA Injects Capital of IDR 210 Billion – Purchasing Vessels to Strengthen Supply Chain Logistics

February 28, 2024

Jakarta, 28 February, 2024 – In the filing published by PT. AKR Corporindo Tbk. (AKRA), the Company announced a capital increase of IDR 130 billion in AKRA's subsidiary - PT AKR Sea Transport (AST). Along with AST capital reporting in October 2023, the Company has injected IDR 210 billion to purchase fleet of ships for transporting basic chemicals and fuel, which is expected to develop AKRA's supply chain logistics business activities.

AST previously had 12 ships and SPOBs. Then as of February 2024, the Company has added 2 chemical/oil tanker fleets. The first – AKRA 103 was purchased in November 2023, and the second – AKRA 105 was purchased this month. These two vessels will further strengthen the Company's transportation fleet in distributing basic chemicals and fuel across archipelago. After this addition, the Company now has 14 units of Vessels and SPOB. The investment is expected to strengthen and develop the Company's chemical and energy supply chain logistics network, especially to areas in eastern Indonesia that show demand growth.

Mr. Haryanto Adikoesoemo said, "We expect the addition of these fleets will meet the requirement of principals and customers in the midst of growing chemical and energy industry in Indonesia". PT. AKR Corporindo Tbk. is a leading and trusted supply chain logistics player in terms of providing Basic Chemicals and Energy products in Indonesia. The Company has been operating since 1960 and has built end-to-end supply chain logistics infrastructure including tank storages, trucks, and vessels, which span 17 sea and river ports in Indonesia. The Company will continue to strengthen its logistics infrastructure, including innovative IT solutions that effectively improve efficiency and drive sustainable growth.

Corporate Secretary
PT AKR Corporindo Tbk