Energy firm PT Rukun Raharja (RAJA), controlled by Hapsoro Sukmonohadi − husband of House of Representatives (DPR) Speaker Puan Maharani − has planned to expand its energy portfolio through an LNG infrastructure acquisition amidst modest increase in revenue for the second quarter (Q2) of 2025.

According to a recent corporate disclosure, RAJA is preparing to acquire a company engaged in liquefied natural gas (LNG) infrastructure. The acquisition follows the company’s earlier divestment of shares in its subsidiary, PT Raharja Energi Cepu (RATU), through an initial public offering (IPO) earlier this year.

RAJA’s President Director Djauhar Maulid said that the acquisition aligns with the company’s long-term strategy to strengthen its financial structure while promoting sustainable expansion in the energy sector.

He revealed that RAJA has earmarked a capital expenditure (Capex) budget of US$70 million (Rp1.1 trillion) for 2025, with US$20 million or 29 percent realized by the end of the second quarter.

“Capex spending is concentrated on strategic projects such as compressor construction in Sengkang, South Sulawesi; fuel pipeline development from Tanjung Batu to Samarinda, East Kalimantan; and pipeline expansion in West Java,” Djauhar said on Wednesday, August 6, 2025.

He added that RAJA has formulated a comprehensive business strategy for the second half of 2025, focusing on expanding both the midstream and downstream energy sectors.

In the midstream segment, RAJA is finalizing the acquisition of several LNG infrastructure companies, with completion targeted for the third quarter of 2025. For downstream operations, a due diligence process is currently underway and expected to conclude by the end of the year.

Djauhar expressed optimism that these strategies will significantly enhance RAJA’s market position in the energy sector, particularly by supporting sustainable development and expanding its gas distribution network.

Financially, RAJA recorded a revenue of US$127 million in Q2 2025, up from US$123 million in the same period last year. The revenue growth was driven by higher gas sales volume and contributions from its gas transmission pipeline operations in Perawang, Riau.

“We also received additional revenue from our operation and maintenance (O&M) services in Ubadari, West Papua,” Djauhar noted.

Despite the revenue growth, RAJA’s net profit fell 4 percent year-on-year (yoy) to US$15.3 million in Q2 2025, from US$16 million a year earlier. Net profit attributable to the parent entity also declined 20 percent yoy to US$11.3 million, down from US$14.2 million.

Djauhar attributed the profit decline primarily to the divestment of subsidiary RATU, which completed its IPO in early 2025.

“The divestment was a strategic move to enhance our financial structure, support sustainable expansion, and provide greater flexibility to finance future projects,” he said.

He emphasized that while the change in ownership structure required adjustments, the IPO allows RATU to operate more independently, setting a stronger foundation for long-term growth within the group.

Looking ahead, Djauhar remains confident that RAJA will achieve its 2025 targets and deliver improved performance compared to the previous year.