Petrochemical firm Chandra Asri Pacific (TPIA), owned by Prajogo Pangestu, recorded a loss of US$33.1 million in the first quarter (Q1) of 2024, against US$8.57 million profit in the corresponding period of 2023. Yet the company is now worth Rp677 trillion, 14 times equity. Even most profitable companies like BCA and BRI are valued less than four times equity.To subscribe please click here
