JAKARTA (TheInsiderStories) – One of taxi operator in Indonesia, PT Blue Bird Tbk (BIRD) continues to work to widen its business line by reforming a new subsidiary called PT Trans Antar Nusabird. The new unit is engaged in transportation, warehousing, postal, courier services, tourism, trade, leasing, travel agents and financial services.
Citing information disclosure on the Indonesia Stock Exchange (IDX) on Monday (02/04), the company formation transaction was held on Friday. The huge investment in the corporate action was valued at Rp400 billion (US$28.57 million).
From this corporate action, BIRD holds 109,890 shares or equivalent to 99.9 percent of the shares or worth Rp109.89 billion of issued and fully paid capital. While its subsidiary, PT Big Bird Pusaka, has 110 shares, equivalent to 0.1 percent of the shares or valued at Rp110 million from the issued and fully paid capital.
The growth of the internet and other technology has stimulated the evolution of a sharing business model, most apparently in transportation and tourism sectors. Such a global phenomenon is now taking hold in Indonesia.
As reported by Price Waterhouse Coopers (PWC), people are eager to use these services because they are affordable and efficient. The presence of GOJEK and Grab has altered the transport business landscape in Indonesia forever.
Traditional taxi operators must scramble to adapt to a new business model and they will otherwise soon go out of business. In the eyes of customers, such ride-hailing services provide a more affordable and convenient transportation alternative.
These ride-hailing services have also created millions of new small-scale entrepreneurs. Today, as many as 250,000 drivers roam the capital city, Jakarta, in a single day – and that’ only GOJEK.
Taxi operations in Indonesia also are highly dependent on government regulations, as well as its ability to expand. The company would need to get government approval to obtain new fleet licenses, adjust daily tariffs, as well as penetrate new cities.
Competition from both the existing and new players will have a significant impact to Blue Bird operations. The issues could arise from fleet’ expansion potential as well as changes in business strategy, such as the scheme in operating the taxi to attract more drivers.
by Linda Silaen, Email: email@example.com