PT Trimegah Sekuritas Indonesia Tbk: Investor Confidence Amidst New Debt Offerings

PT Trimegah Sekuritas Indonesia Tbk (TRIM) has once again drawn attention from the Indonesian capital markets. The company’s recent actions—both in terms of capital structure and shareholder activity—signal a steady trajectory of growth and investor confidence.

1. Significant Shareholder Accumulation by Garibaldi “Boy” Thohir

From 17 to 19 November 2025, Garibaldi Thohir purchased 3,146,700 shares of TRIM in the regulated market. The transaction, reported by multiple outlets—including Kompas.com, Suaramerdeka Pekalongan, and Detik Finance—demonstrates Thohir’s unwavering belief in the firm’s fundamentals. As the founder and majority owner of Trimegah Group, his continued investment is interpreted by market participants as a strong endorsement of the company’s recent performance and future prospects.

The purchases were completed at a price that reflected the prevailing market level, indicating Thohir’s intent to acquire shares at a fair value rather than to influence short‑term price movements. Analysts note that the accumulation could increase his voting power and reinforce his influence over strategic decisions.

2. New Sustainable Bond Issuance

On 19 November 2025, TRIM announced a Sustainable Bond Offering with a principal amount of Rp550 billion and coupon rates reaching 8.5 %. The issuance falls under the “Obligasi Berkelanjutan II” series and is part of a broader Sustainable Bond Offering II with a total target of Rp2 trillion.

Key features of the offering include:

  • No physical certificate; the bond is issued in electronic form, with the Jumbo Bond Certificate registered under the Central Securities Depository (Kustodian Sentral Efek Indonesia – KSEI).
  • The bond’s coupon rate is attractive to yield‑seekers, while its sustainable classification aligns with the growing demand for ESG‑compliant instruments in Indonesia.
  • The offering is expected to enhance TRIM’s capital base, providing additional leverage for expanding brokerage services and strengthening the firm’s balance sheet.

3. Market Context and Company Fundamentals

The issuance of a Rp2 trillion debt instrument comes at a time when the Indonesian market is actively exploring sustainable finance. In the same week, the Ministry of Finance scheduled an auction of Rp7 trillion in Islamic sovereign bonds, underscoring the broader trend toward green and ethical financing.

From a fundamental standpoint, TRIM’s price‑to‑earnings ratio of 10.72 places it well within the median range for Indonesian brokerage firms, suggesting that the market values its earnings potential cautiously yet positively. Its 52‑week range—from Rp302 to Rp765—shows significant upside potential, while the current close price of Rp725 indicates a healthy trading floor.

Moreover, the company’s market capitalization of IDR 5.154 trillion confirms its standing as a major player in Indonesia’s financial sector. The firm’s focus on sustainable and socially responsible practices—evidenced by its commitment to fair labor and community initiatives—resonates with contemporary investors seeking responsible investment avenues.

4. Outlook

The combination of a large-scale debt issuance and a high‑profile shareholder’s continued accumulation positions TRIM favorably for the coming fiscal year. The sustainable bond offering is expected to strengthen the company’s capital base, potentially allowing for further expansion of its brokerage services and technology platform. Simultaneously, Boy Thohir’s continued investment signals confidence that could buoy the share price and provide a solid foundation for future capital‑raising activities.

Investors and market watchers will likely monitor the performance of the new bonds, the impact of the sustainable financing on the company’s ESG ratings, and any further shareholder activity from key stakeholders. As the Indonesian market evolves toward greater sustainability and transparency, PT Trimegah Sekuritas Indonesia Tbk appears well positioned to capitalize on these emerging opportunities.