JAKARTA \u2013 As queues for fuel emerged in some regions, businessman\nSamsudin Andi Arsyad, known as Haji Isam, moved in the opposite\ndirection to the prevailing panic: he is entering the fuel business. PT\nDana Brata Luhur Tbk (TEBE), a listed company associated with Haji Isam,\nis seeking a licence through PT Talenta Bumi Energi to enter the fuel\ntrading business.<\/p>\n
The expansion plan has drawn market attention after TEBE shares\nsurged 96.5% over the past three months. However, the significant price\nrise also carries risks, as several of the company\u2019s development plans\nhave yet to be realised.<\/p>\n
Jason Gozali, head of research at Pluang Maju Sekuritas, said TEBE\u2019s\nmove into fuel trading had a reasonable business basis, particularly\ngiven its infrastructure and the potential demand from Haji Isam\u2019s\nbusiness group.<\/p>\n
TEBE already has a port facility with capacity of 18 million tonnes a\nyear and a dedicated 46-kilometre haul road in South Kalimantan. This\ninfrastructure could potentially be developed to support energy\ndistribution.<\/p>\n
\u201cAdditionally, fuel demand from mining activities within Haji Isam\u2019s\nbusiness group could provide an initial market for the new business,\u201d\nJason wrote in a note cited on Sunday (18 October 2026).<\/p>\n
Nevertheless, Jason cautioned investors against equating expansion\npotential with revenue already being generated. He said several factors\nshould be considered before investors factor the new business\u2019s\ncontribution into TEBE\u2019s performance.<\/p>\n
The company\u2019s existing coal trading business is also still at an\nearly stage. Its first shipment amounted to just 7,400 tonnes and has\nyet to make a meaningful contribution to revenue.<\/p>\n
In terms of ownership, the controlling shareholder holds 76.91% of\nTEBE\u2019s shares. This leaves a relatively small proportion of shares in\npublic hands and could amplify price fluctuations.<\/p>\n
Pluang Maju Sekuritas said investors interested in TEBE\u2019s prospects\nshould consider the risk of a correction and wait for selling pressure\nto ease before making a decision.<\/p>\n
Technically, Pluang expects TEBE shares could retest strong support\nat Rp1,900. It considers this a relatively more attractive entry point\nthan chasing the shares after their substantial year-to-date gains.<\/p>\n
The planned expansion into fuel trading could therefore act as a\npotential catalyst for TEBE, but investors should monitor whether the\nnecessary licences are secured, infrastructure is developed and the\nbusiness generates revenue.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/when-haji-isam-chooses-the-opposite-direction-1792327818", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }