Transkon Jaya established two new subsidiaries to boost income

PT Transkon Jaya Tbk (TRJA), a mining operational vehicle rental company, introduces two new subsdiaries, PT Borneo Sentana Gemilang (BSG) and PT Multinet Perkasa Indonesia (MPI).

Lexi Roland Rompas, President Director of TRJA, mentioned that BSG would focus on the driver service and the sales of spare parts specifically tailored to mining transportation. Meanwhile, MPI will be an internet network provider.

TRJA’s total issued and paid-up capital placed in BSG and MPI amounts to IDR 450 million each. With this much of capital investment, the company controls 98% of BSG and 90% of MPI. The remaining portion is given to other affiliated companies.

Rompas claimed that this new subsidiaries establishment is a part of the company’s business strategy that seeks new business opportunities. “BSG’s business is projected to generate income to our consolidated balance,” he stated in the information disclosure in Indonesia Stock Exchange (IDX).

Based on idnfinancials.com, TRJA’s revenue was seen growing 5.75% year-on-year (yoy) to IDR 104.10 billion by the end of September 2021. Meanwhile, the cash and cash equivalents of the company reached IDR 5.42 billion.

Source: https://www.idnfinancials.com/news/42656/transkon-jaya-established-subsidiaries-boost-income