The Jakarta Post
Well-known taxi company Blue Bird has expanded its business to include postal and courier services, as its core business has faced a tough challenge from ride hailing apps.
According to transparent information reported to the Indonesia Stock Exchange (IDX), Blue Bird has established a subsidiary – PT Trans Antar Nusabird that will run a number of businesses, including transportation, warehousing, post, courier, tourism, trading, travel agency and financial services.
The transaction for the establishment of the new company was made on Feb. 1. The basic capital of the company was 400,000 shares, each of which is valued at Rp 1 million (US$ 71.71), meaning the new company is worth Rp 400 billion.
Blue Bird investor relations head Michael Tene declined to provide more details about the new company. “We apologize. We have not been able to reveal more information. Just refer to the transparent information [in the IDX],” he said as quoted by kontan.co.id.
With this corporate action, Blue Bird controls 99.9 percent of shares, while its subsidiary PT Big Bird Pusaka has 0.1 percent of the new company’s shares.
Currently, Blue Bird offers online services and also cooperates with ride hailing app Go-Jek. (bbn)