Flooring Guide by Cinvex – , JAKARTA — An insightful look into the top 10 shareholders of PT Perusahaan Gas Negara Tbk. (PGAS) as of the close of the first half of 2025 reveals a unique landscape in the Indonesian energy sector.
According to official company data, quoted on Tuesday, August 26, 2025, only one individual investor stands out among the giants in PGAS’s top 10 largest shareholders by the end of June 2025.
Renowned investor Lo Kheng Hong emerges as the sole individual to make this prestigious list, holding a significant 273.78 million shares. This translates to a 1.13% ownership stake as of June 30, 2025, firmly placing him in the seventh position, notably above global investment powerhouse BlackRock Inc., which ranks eighth.
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Lo Kheng Hong’s substantial holding in PGAS stock surpasses that of BlackRock, which reported an ownership of 198.69 million shares, or 0.82%, by the end of the same period. However, his stake remains below that of The Vanguard Group Inc., an institutional investor that commands 368.37 million shares, equivalent to 1.52% of PGAS by the close of June 2025, securing them the fourth spot on the list.
In other crucial developments for the company, PGN is slated to convene an Extraordinary General Meeting of Shareholders (EGMS) on Tuesday, August 27, 2025. This pivotal meeting, as reported by Bisnis, is scheduled for Wednesday, August 27, 2025, at 2:00 PM WIB, with the sole agenda item focused on potential changes to the company’s board of directors and management structure.
Financially, PGAS faced headwinds in the first quarter of 2025. The company’s financial report for Q1 2025 revealed a net profit attributable to the parent entity owners of US$62.02 million. This figure represents a notable 48.80% year-on-year contraction compared to the US$121.14 million net profit recorded in the first quarter of 2024, highlighting recent performance challenges for the energy sector player.
Below is a detailed breakdown of the top 10 shareholders of PGN or PGAS as of the end of June 2025:
| Shareholder | Type | Number of Shares | Percentage | Legal Entity | |
|---|---|---|---|---|---|
| 1 | Pertamina (Persero), PT | Domestic | 13,809,038,755 | 56.96% | Limited Company |
| 2 | BPJS Ketenagakerjaan | Domestic | 1,126,569,100 | 4.65% | Limited Company |
| 3 | Panin Sekuritas | Domestic | 463,314,500 | 1.91% | Limited Company |
| 4 | Vanguard | Foreign | 368,379,400 | 1.52% | Foreign Business Entity |
| 5 | iShares | Foreign | 322,471,407 | 1.33% | Foreign Business Entity |
| 6 | Petronas | Foreign | 307,260,500 | 1.27% | Foreign Business Entity |
| 7 | Lo Kheng Hong | Domestic | 273,786,100 | 1.13% | Indonesian Individual |
| 8 | Blackrock | Foreign | 198,693,700 | 0.82% | Foreign Business Entity |
| 9 | Prudential Life Assurance | Domestic | 193,252,500 | 0.80% | Limited Company |
| 10 | Sucorinvest | Domestic | 153,773,400 | 0.63% | Limited Company |
Source: PGN, processed
Summary
As of June 30, 2025, PT Perusahaan Gas Negara Tbk. (PGAS) disclosed its top 10 shareholders, dominated by institutional investors, with PT Pertamina (Persero) holding the largest stake at 56.96%. Renowned investor Lo Kheng Hong is the only individual on this list, owning 273.78 million shares (1.13%), placing him seventh, ahead of BlackRock. Other significant shareholders include BPJS Ketenagakerjaan, which holds 4.65%, and The Vanguard Group Inc.
PGN is scheduled to hold an Extraordinary General Meeting of Shareholders (EGMS) on August 27, 2025, to address potential changes to its board of directors and management structure. Financially, PGAS experienced a significant decline in its first-quarter 2025 net profit. The company reported a net profit of US$62.02 million, a substantial 48.80% decrease compared to the US$121.14 million earned in the first quarter of 2024.