JAKARTA, investor.id – PT Transkon Jaya Tbk recently announced plans to list its shares on the Indonesia Stock Exchange (BEI), offering up to 375 million shares or approximately 24.83% of the fully issued and paid-up capital at a price range of Rp 200-300. With this, the company could potentially raise fresh funds ranging from Rp 75 billion to Rp 112.5 billion. The company has appointed PT UOB Kay Hian Sekuritas as the Underwriter for this Initial Public Offering (IPO). Transkon’s CEO, Lexi Roland Rompas, stated that this move is aimed at expanding the business network in the Light Vehicle rental sector supporting mining activities, particularly outside Kalimantan, such as Sumatra and its surroundings. The planned capital relocation to Kalimantan and the increased use of coal for electricity generation are seen as positive catalysts for the company’s revenue growth. Therefore, the funds from the IPO will be utilized for the down payment of new vehicle purchases, with a 70% allocation. “The remaining 30% will be used to support these vehicles, such as acquiring spare parts, vehicle oil, and as future working capital. Additionally, by becoming a public company, the Company is obliged to implement good corporate governance in its business activities, providing added value to shareholders and stakeholders,” he explained after a virtual public presentation on Friday (24/7).
Concurrently with this Public Offering, the Company has initiated an Employee Stock Allocation (ESA) Program, allocating up to 0.25% of the Offered Shares in the form of definite stock allocations during the Public Offering, or up to 937.5 thousand ordinary shares with a share price equal to the Offering Price. Through this program, the company aims to enhance the sense of ownership and belonging among employees, expecting positive impacts on employee performance and overall company performance. The IPO is currently in the initial offering phase (bookbuilding), scheduled to conclude on August 3, 2020. The company hopes to obtain effective statements from the Financial Services Authority (OJK) by August 14, 2020, with the public offering scheduled for August 19–27, 2020. If all goes as planned, the first listing on the BEI is expected to take place on September 3, 2020.
In addition to providing mining support vehicle rentals, Transkon Jaya is also involved in the internet service provider business in the Kalimantan region through its internet network called Pacnetcom. In this business, the company connects customers to the Indonesia Internet Exchange and International Internet Backbone. Utilizing fiber optic infrastructure and supported by power supply systems and existing backup links, the company minimizes downtime and provides 24-hour service without monthly quotas. “Thus, we can offer affordable and high-quality internet network solutions to our customers. The services offered by Pacnetcom include Wireless broadband internet service provider, Network design & implementation, VSAT communication, and Video security systems solution,” he added.
According to Lexi, to compete with competitors, the company has implemented several strategies, including retaining potential customers by providing higher-quality services compared to competitors in the Light Vehicle (LV) rental sector. This includes offering repair facilities at each customer mining location, enhancing efficiency in the repair process. Lexi cited the recent establishment of a repair facility in remote areas such as the Maluku Islands as an example. “This is one of our advantages in running this business, and to support this strategy, we will enhance our skills. With these strategies, Transkon Jaya is optimistic that by the end of 2020, it can achieve Bottom Line growth of Rp 60-70 billion,” he said. Meanwhile, according to the financial report in 2019, Transkon Jaya recorded a net profit of Rp 30.56 billion, a growth of 9.73% compared to the same period in 2018, which was Rp 27.85 billion. This profit increase was supported by a 23.08% rise in revenue, equivalent to Rp 401.33 billion. “This increase is due to the 23% increase in revenue from the vehicle rental segment, obtained from the increased demand from both existing and new customers, a 2.2% annual rental price increase, and a 44% increase in internet service revenue,” he concluded.
As information, Transkon Jaya was founded in Balikpapan, East Kalimantan, in 2002, initially operating as a supplier of spare parts and accessories for specialized vehicles in mining concession areas. With the development of its business, in 2006, the company began renting operational vehicles (“light vehicles / LV”) 4×4 and 4×2 under the brand “Transkon Rent,” with vehicle specifications tailored to the business activities of customers dominated by coal mining companies. The dominance of coal mining in the business sector on the island of Kalimantan has created business opportunities utilized by the company that has been operating since 2002. Recognizing the potential that can be developed, in 2011, the company added a new business line by becoming an internet service provider in the Kalimantan region. Currently, the company’s business activities include providing LV rental services, internet network services, and selling vehicle spare parts and accessories.
Editor: Gora Kunjana (gora_kunjana@investor.co.id)
Source: [Investor.id](https://investor.id/market-and-corporate/gelar-ipo-transkon-jaya-incar-dana-rp-1125-miliar)
