GZCO Shares Surge Amid Happy Hapsoro and B50 Sentiment

PT Gozco Plantation Tbk (GZCO) has captured market attention following reports of a major acquisition plan by PT Energi Melayani Negeri (EMN), a company affiliated with businessman Happy Hapsoro, husband of Indonesia’s House Speaker, Puan Maharani. According to market speculation, EMN is preparing to acquire nearly half of GZCO’s shares, signaling a potential shift in GZCO’s business trajectory toward renewable energy.

Analysts view this corporate move as a potential turning point for GZCO’s performance. Although the details of the acquisition remain undisclosed, observers believe the move aligns with Indonesia’s clean energy policy, particularly the upcoming Biodiesel B50 mandate set for 2026.

Market analyst and Entry Exit Investment founder Indrawijaya Rangkuti said the acquisition anticipates a surge in domestic demand for Crude Palm Oil (CPO). “The government’s B50 program aims to end diesel imports by 2026, which will drastically boost the need for CPO as the main biodiesel feedstock,” he said.

He explained that Indonesia currently consumes around 14 million kiloliters of diesel, 4.5 million of which are imported. “President Prabowo’s B50 mandate will open massive domestic opportunities. Stable CPO logistics are vital, and that’s why plantation companies like GZCO are becoming prime targets,” he added.

Speculation is also growing about a possible backdoor listing by EMN, as GZCO is already a publicly listed company. EMN, focused on clean energy, is controlled by Happy Hapsoro through PT Basis Utama Prima (Basis Investment). Data from Indonesia’s AHU indicates that 90% of EMN’s shares are held by PT Sumber Energi Negeri, which in turn is 99.99% owned by Basis Utama Prima.

If finalized, this acquisition could transform GZCO from a traditional palm oil producer into a strategic player in Indonesia’s national biodiesel supply chain.