Boy Thohir Wants to Annex Trimegah, Maybe GoTo Synergy?

Jakarta, CNBC Indonesia – One of the richest people in Indonesia at once President Director of PT Adaro Energy Tbk (ADRO) Garibaldi ‘Boy’ Thohir made the latest breakthrough in the Indonesian capital market.

On Monday (4/10/2021), through the national newspaper, Boy Thohir passed kThe consortium he leads announced that it would take over 49% stake in securities issuer PT Trimegah Sekuritas Indonesia Tbk (TRIM) from Advance Wealth Finance Ltd.

Boy Thohir has also confirmed the news.

“Still in process, I will update in more detail later,” said Boy Thohir, to CNBC Indonesia, Monday (4/10).

For three dollars, the President Director of Trimegah Sekuritas Indonesia, Stephanus Turangan, also confirmed the news of the acquisition.

“He’s doing due diligence [uji tuntas], right,” he said when confirmed by CNBC Indonesia, Monday (4/10).

However, TRIM’s management has not disclosed in more detail the implementation price of the share takeover.

For information, the Boy Thohir Consortium plans to buy Advance’s 3,500,000,000 shares in TRIM, which is 49.23% of all shares issued by TRIM which, if completed, will result in a change of control over this securities company.

“The purpose of this takeover plan is for investment and business development of the Boy Thohir consortium in the Indonesian capital market,” Boy Thohir wrote, quoted Monday (4/10).

This acquisition then begs the question, can this be a signal for the synergy of the GoTo Group ahead of the initial public offering (IPO)?

As is known, Boy Thohir currently serves as an Independent Commissioner at (Gojek). Boy has held this position since mid-2019.

The latest news is that the joint group between ride-hailing service giant Gojek and e-commerce Tokopedia is rumored to be holding an IPO on the Indonesia Stock Exchange (IDX) in January 2022. The targeted fund from this IPO reaches US$ 3 billion or around Rp 43 trillion ( exchange rate of Rp. 14,333).

“The IPO will be in January 2022 and the value is not less than US$ 3 billion,” said an executive familiar with the plan to CNBC Indonesia, Thursday (30/9/2021).

The GoTo Group is currently continuing to complete the digital business ecosystem as a new economy which consists of 6 main business lines, namely e-commerce, financial, streaming, logistics, food delivery and fresh products.

The details, referring to Syailendra’s research, in the field of e-commerce GoTo has Tokopedia, Bank Jago in the financial business, Go-Play in the streaming business.

Photo: Syailendra Market Insight period 24 September 2021
Syailendra Market Insight period 24 September 2021

Then, Go-Send and Anteraja for logistics, Go-Food in the food delivery business and Hypermart, which is managed by the Lippo Group issuer, PT Matahari Putra Prima Tbk (MPPA), for fresh products.

Not to mention, Gojek has an investment company arm (capital venture), called Go-Ventures. Currently, Go-Ventures has funded dozens of startups, such as radio & podcast startup NOICE, which was recently acquired by issuer PT Mahaka Radio Integra Tbk (MARI), owned by the Minister of State-Owned Enterprises Erick Thohir.

Besides NOICE, several startup entered by Go-Ventures are eFishery, FoodMarketHub and stock investment applications & the like Pluang.

NEXT: GoTo Networks: Bank Jago, Hypermart to Insurtech



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