Newport Marine Stock Plunges, Veteran Investor Sugiman Halim Buys In
Main Takeaways
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JAKARTA, investortrust.id – As shares of Indonesian shipping company PT Newport Marine Services Tbk tumble to record lows, seasoned investor Sugiman Halim has seized the opportunity by purchasing nearly 2 million shares, signaling confidence in the firm's fundamentals amid global market volatility.
PT Newport Marine Services Tbk, listed under the ticker BOAT, saw its share price fall below its initial public offering (IPO) level of Rp 100, closing at Rp 97 on Friday, April 11, 2025. This marks a year-to-date decline of over 50 percent from its Rp 195 closing price at the end of 2024, according to data from the Indonesia Stock Exchange.
In a regulatory filing with the Indonesia Stock Exchange, the company disclosed that the share acquisition occurred as global markets began responding positively to developments in trade negotiations between the United States and China. The timing suggests Sugiman is betting on broader macroeconomic recovery to lift BOAT’s performance.
Ownership records show Sugiman Halim now holds 367.91 million shares, representing a 10.51 percent stake in BOAT as of the end of March. The company's controlling shareholders include Sujaya Soekarno with a 28.57 percent stake, followed by Dharmawati Djuhana and Surya Soekarno, each holding 21.43 percent.
BOAT’s fundamentals may support Sugiman’s optimistic stance. The company reported revenue growth from $9.54 million in 2023 to $11.45 million in 2024. Operating profit nearly doubled from $1.16 million to $2.20 million, while net profit jumped significantly from just $65,582 to $1.17 million over the same period.
The stock’s steep decline, coupled with improving financials and renewed global trade optimism, appears to have convinced Sugiman Halim to increase his exposure to the maritime logistics firm—potentially setting the stage for a value rebound.
PT Bumi Resources Minerals Tbk (BRMS), a mining company focusing on gold and other minerals, has been one of Sugiman Halim's notable investments. In 2023, BRMS shares experienced substantial growth, driven by increased gold production and favorable commodity prices. However, the stock has also faced volatility due to fluctuating global gold prices and operational challenges.
Sugiman Halim is also a notable shareholder in PT Global Sukses Digital Tbk, an Indonesian digital solutions provider known for its e-commerce and software platforms. His entry into the company came through its initial public offering (IPO), signaling a strategic move into the technology sector amid Indonesia’s accelerating digital transformation.