PT Rig Tenders Indonesia Tbk (RIGS.JK)
ValueMarkers Composite Index
88% below intrinsic value ($0)
PT Rig Tenders Indonesia Tbk (RIGS.JK) — VMCI valuation read
PT Rig Tenders Indonesia Tbk (RIGS.JK) carries a VMCI composite of 72/100, 22 points above the Industrials sector median of 50. Among mid-cap names, that gap places RIGS.JK in the top third on the five-pillar weighting (Value 35%, Quality 30%, Integrity 15%, Growth 12%, Risk 8%).
The RIGS.JK insider tape has been silent for the past 30 days on Form 4. Where executives neither buy nor sell, the bull and bear cases lean harder on filings cadence and the next earnings line.
**Investor frame.** Value reads RIGS.JK trades at 16.0x earnings, 11% below the Industrials median of 18.0x, which compresses or extends through the 11.0x EV/EBITDA versus a Industrials 12.0x. Quality: ROIC of 18.0% sits 8.0pp above the Industrials median (10.0%). Risk: net debt to EBITDA of 2.7x is the rate-sensitivity line to watch, the line to track on PT Rig Tenders Indonesia Tbk's next 10-Q.
RIGS.JK rose 1.6% over the trailing 7 days, with a -20.8% read on a 30-day basis.
PT Rig Tenders Indonesia Tbk provides marine logistics services for the oil and coal industry in Indonesia. It operates in two segments, Mining Commodities and Offshore. The Mining Commodities segment charters tugboats and barges to coal mining companies for the transportation of coal and other bulk aggregates. The Offshore segment charters supply vessels and accommodation work barges to upstream oil and gas companies for supporting their offshore operations. The company also offers catering, ship and crew management, and bunker services. As of June 30, 2021, it owned 36 tug boats, 7 self-discharging barges, and 20 barges. The company was incorporated in 1974 and is headquartered in Jakarta, Indonesia. PT Rig Tenders Indonesia Tbk is a subsidiary of Scomi Marine Services Pte Ltd. As of November 16, 2021, PT Rig Tenders Indonesia Tbk operates as a subsidiary of PT Surya Indah Muara Pantai.
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