AKR Corporindo1Q2023 results demonstrated its resilience with its petroleum and chemicals division continuing to grow in 1Q2023 with the added kicker of a large land sale at JIIPE.
The company's JIIPE Industrial Estate will become an increasingly important earnings contributor but chemical distribution will be driven by smelters and fuel by the BP retail JV at the margin,
AKR Corporindo is an increasingly interesting proxy for the next stage of Indonesia's economic growth through its exposure to smelters through its chemicals business and the overall economy through fuel.
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