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TRJA to put off the ISP business line spin-off

03 February 2022 06:21

JAKARTA – PT Transkon Jaya Tbk (TRJA) postpones its spin-off plan to establish the PAC Net internet service provider (ISP) in the near future. It currently awaits the amendment in basic budgeting as the holding company.

Lexi Roland Rompas, President Director of Transkon Jaya, said that the company would first prepare the subsidiary that will carry the business spin-off, as regulated in Act No. 40/2007 concerning Limited Company. “The subsidiary establishment is possible should the company have added the new business unit in the holding company. It must be inserted as an agenda in the Extraordinary General Shareholders Meeting,” he explained in the information disclosure quoted Thursday (3/2).

According to Rompas, the company has its own considerations regarding the realisation of the spin-off plan, including a more comprehensive schedule and preparation. “The company will delay [the plan] until the specified time regarding the previously announced plan,” he added.

TRJA is known as a company engaged in the vehicle rental business. It also plans to introduce an ISP business unit in Kalimantan. Should the plan be realised, PAC Net will be 90% claimed by TRJA out of its entire issued and paid-up capital. The other shareholders, each having 5%, are PT Damai Investama (DI) and PT MSJ Investama (MSJI). (LK/ZH)

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