Chandra Asri vs Lotte Chemical-Danantara
After more than three decades ‘controlling’ upstream petrochemical industry and plastic raw materials, Chandra Asri (TPIA) will have a serious competitor very soon with scheduled commercial operation of new cracker by PT Lotte Chemical Indonesia (LCI). Chandra Asri was last traded at Rp10,000 to make a market capitalisation of Rp865 trillion or US$53 billion, unbelievably expensive for an old factory.
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