JAKARTA – PT Samudera Indonesia Tbk (SMDR) has been awarded an idA+ rating with a stable outlook and an idA+(sy) rating for the SR Sukuk Ijarah I issued by the company, from PT Pemeringkat Efek Indonesia (Pefindo), valid from March 7, 2025, to March 1, 2026.

Pefindo stated that this rating reflects SMDR's strong market position, diversified shipping business portfolio, and solid financial flexibility. However, several factors remain a concern, such as the global macroeconomic conditions and financial leverage still categorized as moderate.

The idA+ rating could improve if SMDR succeeds in strengthening its non-container shipping business, generating more stable revenue. “Conversely, the rating may decrease if there is a significant decline in shipping volume, lower freight rate pressures, uncontrolled increases in bunker fuel prices, and overly aggressive expansion policies that increase debt without being accompanied by strong revenue prospects,” explained Pefindo in its official statement, quoted Friday (April 4).

As a company established in 1964, SMDR has built an integrated shipping business ecosystem, ranging from containers, dry bulk, tankers, to port services and container logistics. As of December 31, 2024, SMDR’s shareholding structure is as follows: PT Samudera Indonesia Tangguh (57.98%), PT Ngrumat Bondo Utomo (15.79%), management (0.70%), public (25.53%).

As of the close of trading on Thursday (March 27), SMDR’s share price was at IDR230 per share. However, the stock price declined by 0.86% over the week and 3.36% over the past month. (EF/LM)