Investment Strategy Sees HTK Divest Entire HUMI Stake
Shipping company Humpuss Transportasi Kimia (HTK) has divested its entire stake in Humpuss Maritim Internasional (HUMI), an affiliate linked to the Humpuss Group of Tommy Soeharto, in an internal transaction valued at Rp 59.1 billion, or approximately $3.6 million.
This significant divestment, detailed in a disclosure filed with the Indonesia Stock Exchange on Thursday, involved HTK selling 1.18 billion shares of HUMI at a price of Rp 50 per share.
The transaction was executed on September 26, 2025, and marks a complete exit for HTK from the maritime affiliate. Prior to this sale, HTK held a 6.55 percent stake in HUMI.
The management of Humpuss Transportasi Kimia stated that the divestment was a calculated move and an integral part of their ongoing investment strategy.
They confirmed that the share price was determined based on a mutual agreement between the two entities involved.
Since both companies, HTK and HUMI, belong to the broader Humpuss Group, which is historically and closely associated with Tommy Soeharto, the transaction is fundamentally characterized as an intra-group restructuring.
This means the sale was not an arms-length transaction between unrelated parties, but rather a strategic shuffling of assets and ownership within the conglomerate’s internal structure.
This type of internal reorganization often aims to optimize the group’s capital structure, streamline operational focus, or prepare specific subsidiaries for future strategic actions.
Market Reaction Follows Intra-Group Transaction
The announcement of the internal restructuring, despite being an intra-group divestment by HTK, still elicited a noticeable reaction from the capital market regarding HUMI shares.
Following the disclosure of the large-volume sale, HUMI’s shares experienced a slight dip, slipping by 1.53 percent to trade at Rp 129 in the first trading session on Thursday.
While the movement was not drastic, it reflects the market’s tendency to react to any major block trade or change in substantial ownership, even if the transaction is internal to a large group like Humpuss.
For investors, the key element of this transaction lies not just in the change of ownership percentage, but in understanding the broader strategic objective of the Humpuss Group.
The divestment of the 6.55 percent stake in HUMI by HTK may be interpreted by analysts as an effort to consolidate maritime assets under different entities, simplify the ownership structure for HUMI, or free up capital within HTK for other investment or operational purposes outside the maritime sector.
Such a large-scale divestment, even at a mutually agreed price, often warrants close scrutiny by investors seeking to understand the future direction and capital allocation priorities of the companies involved, particularly Humpuss Maritim Internasional (HUMI) and the wider group linked to Tommy Soeharto.
Strategic Context of the Humpuss Group
The move highlights the ongoing asset management and strategic refinement activities within the Humpuss Group, a major player in the region’s shipping and maritime sector.
The Humpuss Group maintains a diverse portfolio, and these internal transactions are a common mechanism for large conglomerates to maintain efficiency and focus across various business lines.
The decision by HTK to completely offload its shares in HUMI suggests a clear re-segmentation of business interests or investment focus between the two affiliates.
The capital realized from the Rp 59.1 billion sale will now be available for HTK to deploy in other investment opportunities that align with its current strategic mandate, which may or may not be within the traditional shipping sector.
Conversely, Humpuss Maritim Internasional (HUMI) now has a slightly simplified ownership structure following the divestment.
The Group’s association with Tommy Soeharto lends significant historical and political context to any major corporate action, making market observers keen to track the long-term implications of this internal restructuring on the companies’ future growth and operational strategy.
Ultimately, the transaction underscores the dynamic nature of investment strategies within Indonesia’s major conglomerates as they seek optimal capital deployment.
