CBRE 2025 Meeting Approves Ship Purchase and Expansion Yet Stock Price Falls

PT Cakra Buana Resources Energi Tbk (CBRE) has secured key shareholder approval for its latest business expansion plan. However, despite the positive sentiment from the Extraordinary General Meeting of Shareholders (EGMS) held on October 27, 2025, CBRE’s stock price closed lower on Wednesday, October 29, 2025.

According to the summary disclosed through the Indonesia Stock Exchange (IDX), all proposed agendas received full approval from shareholders.

EGMS Approves Vessel Acquisition and New Business Activities

The main resolution from the meeting was the approval of a material transaction involving the purchase of a pipe laying & lifting vessel.

• Purchase of HAI LONG 106:
  Shareholders unanimously (100%) approved management’s plan to acquire the vessel HAI LONG 106 from Hilong Shipping Holding Limited. Funding for the acquisition may come from internal cash or third-party loans.

• Issuance of Promissory Note:
  The meeting also approved (99.99% of votes) the issuance of a promissory note to third parties as part of the payment mechanism for the vessel acquisition.

• Expansion of Business Activities:
  The third agenda, approved with 100% of votes, involved expanding CBRE’s business into international sea freight for general cargo (KBLI 50141) and other marine support services (KBLI 52229). This also entailed amending Article 3 of the company’s Articles of Association.

The EGMS was attended by shareholders representing 3.29 billion shares, equivalent to 72.66% of total outstanding shares.

CBRE Stock Price Drops Despite Expansion Approval

Despite receiving unanimous approval for its expansion plans, CBRE’s stock declined 4.36% (down 60 points) to IDR 1,315 per share on Wednesday’s trading.

Throughout the day, the stock moved between IDR 1,250 and IDR 1,400, with trading volume reaching 59.79 million shares, worth IDR 78.16 billion, across 20,121 transactions.

The decline may have been driven by profit-taking after price gains leading up to the EGMS, as well as investor caution over the funding structure and long-term impact of the company’s expansion strategy.