The conglomerate Prajogo Pangestu's company, PT Chandra Asri Pacific Tbk. (TPIA)—which is also the parent of PT Chandra Daya Investasi Tbk. (CDIA)—recorded a strong financial performance during the first half of 2025. Based on its financial report, TPIA achieved a net profit of US$1.27 billion for the period ending June 2025.

During this period, TPIA reported revenue of US$2.92 billion, marking a year-on-year (YoY) increase of 237.70% from US$866.49 million in the same period of 2024.

The bulk of this revenue was contributed by the chemical segment, which generated US$1.79 billion, followed by the refining segment, which earned US$1.02 billion. Meanwhile, the infrastructure segment brought in US$47.23 million in revenue during the same period.

Along with rising revenue, TPIA's cost of goods sold (COGS) also surged by 254.44% YoY, increasing from US$853.64 million to US$3.02 billion in the first half of 2025.

Despite higher costs, TPIA successfully booked a net profit attributable to the parent company's shareholders of US$1.27 billion, equivalent to Rp20.94 trillion (based on the Jisdor exchange rate of Rp16,459 per US dollar as of July 31, 2025). This represents a significant turnaround, as the company previously recorded a net loss of US$47.46 million in the first half of 2024.

From a balance sheet perspective, TPIA's total assets rose to US$10.38 billion as of June 2025, representing an 83.47% year-to-date (YtD) increase from US$5.65 billion at the end of 2024. Likewise, total liabilities increased from US$2.72 billion to US$5.51 billion.

Shareholders' equity also saw growth, rising 66.11% YtD from US$2.93 billion in December 2024 to US$4.87 billion in June 2025.

According to Andre Khor, Chief Financial Officer and Director of TPIA, the company's surge in net profit was largely driven by the acquisition of Aster Chemicals and Energy Pte. Ltd. from Shell, which was finalized on April 1, 2025.

The main contributor to the profit increase came from the recognition of accounting gain from a bargain purchase, or negative goodwill, arising from the acquisition of Aster.

“This achievement reflects the significant added value of our recent corporate action, which not only enhanced our performance but also strengthened our balance sheet structure,” Andre said in an official statement on Friday (August 1, 2025).

Andre also noted that the acquisition of Aster marked a strategic milestone in expanding the regional presence of Chandra Asri Group in the chemical, energy, and infrastructure sectors, while also providing synergistic benefits to Indonesia, including industrial integration and enhanced competitiveness.

“This is clear evidence that our consolidation strategy is effective and has laid a solid foundation for future growth,” he concluded.