JAKARTA – In a significant show of confidence, both the Commissioner and Director of PT Petrosea Tbk. (PTRO) have notably increased their stakes in the mining services issuer, which is affiliated with renowned conglomerate Prajogo Pangestu.
According to a disclosure report cited on Thursday (September 24, 2025), Erwin Ciputra, serving as Petrosea’s Commissioner, and Kartika Hendrawan, a Director, executed substantial share purchases of PTRO on September 23, 2025. Anto Broto, Corporate Secretary of Petrosea, affirmed that these transactions were strategically undertaken for investment purposes.
Erwin Ciputra acquired 1,000,000 shares of PTRO at a price of Rp5,425 per share, totaling an investment of Rp5.42 billion. This transaction boosted his ownership in PTRO to 10.05 million shares (0.0997%), up from his previous holding of 9.05 million shares (0.0898%). Similarly, Kartika Hendrawan purchased 200,000 PTRO shares at Rp5,675 per share, amounting to Rp1.13 billion. Following this acquisition, her total shares in PTRO increased to 1.93 million shares (0.0172%) from 1.73 million shares (0.0172%).
These executive movements coincide with a robust performance for PTRO shares on the stock exchange. As of Thursday (September 24, 2025), at 13:43 WIB, PTRO shares had surged by 8.91%, or 550 points, reaching Rp6,725 per share. This impressive climb also reflects an extraordinary year-to-date gain of 144.99% throughout 2025, underscoring strong investor sentiment in the company.
Beyond the executive share purchases, Petrosea (PTRO), owned by Prajogo Pangestu, is also making strategic moves with the planned acquisition of Singaporean company SBPL. Previously, PT Petrosea Tbk. (PTRO) announced the signing of a non-binding term sheet with the shareholders of Scan-Bilt Pte. Ltd. (SBPL), outlining its intention to acquire a majority stake in the company.
PTRO Set to Acquire Singaporean Company SBPL
SBPL, a Singapore-based entity, specializes in plant civil engineering construction and maintenance work, serving the chemical processing and onshore oil and gas industries. This signing represents a preliminary step, which will be followed by a comprehensive due diligence process and further negotiations. Michael, President Director of Petrosea, stated on Friday (September 19, 2025), “The planned acquisition of a majority stake in SBPL is an integral part of Petrosea’s growth and diversification strategy, designed to support business development and expansion within the chemical and energy sectors.” He further emphasized the strategic vision, noting that “Petrosea will develop SBPL as a business hub for its expansion into the Asia Pacific region, encompassing Singapore, Papua New Guinea, and Indonesia.”
Established in 1983, SBPL boasts a long and distinguished track record in supporting various strategic construction projects across the Asia Pacific. The company has consistently focused on providing specialized services for the onshore oil and gas processing industry, as well as the construction of chemical plants, tankage terminals for the chemical industry, and power generation facilities. SBPL’s extensive experience is highlighted by its involvement in notable projects in Singapore, including Piling and Civil Engineering Construction at Pulau Bukom for Shell Eastern Petroleum Pte Ltd./Chiyoda Singapore (Pte) Ltd., the Effluent Treatment Recycling Plant – Design & Build (Civil & Structural) project, and the Stolthaven Expansion Project for Stolthaven Singapore/Chiyoda Singapore (Pte) Ltd.
___________
Disclaimer: This news article is not intended as an invitation to buy or sell shares. Investment decisions are solely at the discretion of the reader. Bisnis.com is not responsible for any losses or gains arising from the reader’s investment decisions.
Summary
Petrosea (PTRO) Commissioner Erwin Ciputra and Director Kartika Hendrawan have significantly increased their stakes in the company, acquiring 1,000,000 shares for Rp5.42 billion and 200,000 shares for Rp1.13 billion, respectively. These transactions, confirmed as being for investment purposes, occurred amidst strong market performance for PTRO shares, which have shown a substantial year-to-date gain.
In a related strategic move, Petrosea plans to acquire a majority stake in Scan-Bilt Pte. Ltd. (SBPL), a Singaporean firm specializing in civil engineering construction and maintenance for the chemical processing and onshore oil and gas sectors. A non-binding term sheet has been signed, with further due diligence and negotiations anticipated. This acquisition is a key part of Petrosea’s growth and diversification strategy, aiming to expand its presence across the Asia Pacific region.