Reporter: Kenia Intan | Editor: Wahyu T.Rahmawati
KONTAN.CO.ID – JAKARTA. In the midst of a market affected by the Covid-19 pandemic, the vehicle rental and internet service provider PT Transkon Jaya Tbk (TRJA) continues to secure new contracts.
The Corporate Secretary of Transkon Jaya, R. Alexander J. Syauta, explained that TRJA has recently secured a vehicle rental contract in the gold mine area of Toka Tidung, North Sulawesi. Currently, they are preparing vehicles for this contract.
In September 2020, TRJA also obtained a contract in the Morowali gold mine, Central Sulawesi. The process of delivering vehicles has been carried out so far and is expected to be fulfilled in October 2020.
Meanwhile, from the PACnet business, TRJA secured a new contract in the gold mine of Minahasa, North Sulawesi, and in the oil palm plantation located in Morowali, Central Sulawesi.
Previously, TRJA’s management explained that despite the Covid-19 pandemic, customer demand remained stable. This is reflected in the 6% increase in demand for Transkon Rent vehicle rentals throughout the first half of 2020. The demand for PACNet Internet Service Provider services also increased by 17%.
TRJA’s revenue increased by 6% from January to June 2020. For comparison, at the end of 2019, revenue from vehicle rentals reached IDR 389.6 billion. Meanwhile, the internet service provider contributed up to IDR 11.73 billion.
Just to note, TRJA allocated a capital expenditure (capex) of up to IDR 150 billion throughout 2020. An amount of IDR 93.75 billion of this capex comes from the proceeds of the initial public offering (IPO). “In total, the absorption has reached a significant value,” said Alexander to Kontan.co.id on Tuesday (20/10).
Furthermore, Alex explained that the absorbed capex has been used for vehicle procurement since August 2020. In addition, capex is also used for purchasing spare parts to support business expansion. As of the end of September 2020, inventory has increased by 41% compared to June 2020.
Based on Kontan.co.id records, the funds raised by TRJA through the IPO will indeed be used for the procurement of new vehicles and the purchase of spare parts. The composition of its use is 70% for new vehicles and the rest for spare parts.
