PEFINDO has affirmed its idA- rating with stable outlook to PT Sumber Global Energy Tbk

(April 9, 2026)--PEFINDO has affirmed its idA- rating with stable outlook to PT Sumber Global Energy Tbk (SGER) and its Shelf-Registered Bond I. The rating reflects SGER’s strong cash flow protection and diversified product. The rating is constrained by moderate financial flexibility as well as exposure to commodity price fluctuations and unfavorable regulatory changes.

The rating may be raised if SGER strengthens its business profile by pursuing diversification of its product portfolio to reduce its exposure to coal, while maintaining stable profit margins, which will positively impact its financial profile and financial flexibility. On the other hand, the rating may be lowered if the Company’s revenue or EBITDA falls significantly below targets or if SGER’s financial profile weakens, which can be driven by incurring more debt than projected to finance its new projects without being adequately compensated by an improvement in its business profile.

Established in 2008, SGER engages in commodity trading, particularly coal and nickel. It operates in both local and regional markets, such as Vietnam, Singapore, China, and India. The Company is also in the process of diversifying its business by developing nickel and building a joint venture to produce hydrogen peroxide. As of December 31, 2025, its shareholders were PT Sumbermas Inti Energi (50.08%), Vivi Ramalyati Hutama (10.94%), Welly Thomas (8.60%), and the public (30.38%). (ends)