GoTo President Commissioner Becomes AnterAja Investor, Controls 10% of Shares

Conglomerate Garibaldi “Boy” Thohir adds to his investment portfolio. Most recently, Boy became an investor in the logistics company AnterAja. Boy Thohir himself is the President Commissioner of GoTo with Wishutama Kusubandio.

According to a disclosure on the Indonesia Stock Exchange, PT Tri Adi Bersama (AnterAja), a subsidiary of PT Adi Sarana Armada (ASSA) issued 490,413 new shares or equivalent to IDR 70.55 billion. It’s all purchased by Boy Thohir as the third party.

“All pre-existing TAB shareholders will waive their pre-emptive rights to subscribe to the shares for the issuance of the new shares,” ASSA management wrote, Wednesday (13/4).

With the transaction, the share ownership of ASSA and other shareholders is diluted. Prior to the transaction, AnterAja’s shareholder structure was ASSA at 55%, PT Roda Bangun Selaras at 25%, and Time Prestige Investments Limited at 20%.

After the transaction, the share ownership became ASSA 49.5%, PT Roda Bangun Selaras 22.5%, Time Prestige Investments Limited 18%, and Garibaldi Thohir 10%.

ASSA’s Board of Directors confirmed that although ASSA’s ownership was diluted, it remained the controller in TAB. “ASSA remains the controlling stake in TAB because ASSA is the largest shareholder in TAB.”

For the record, Tokopedia through PT Spirit Bambu Runcing (SBR) initially had an initial shareholder of 25% in AnterAja. However, at the beginning of last year, it was transferred to PT Roda Bangun Selaras (RBS).

The SBR is an affiliate of GOTO. In the GOTO prospectus, it was stated that SBR made a number of investments, one of which was to PT Wahana Teknologi Indonesia (WTI).

Then, WTI also made various investments, one of which was in Roda Bambu Runcing (RBS). Apart from AnterAja, RBS also invested in PT Adi Sarana Logistik (Titipaja) with a 40% stake.

AnterAja Performance

AnterAja is one of ASSA’s business lines that provides a significant business contribution. In ASSA’s financial report last year, it recorded revenue of IDR 5.1 trillion, up 68% compared to 2020 of IDR 3 trillion.

The increase was driven by the significant growth of AnterAja’s delivery express business, which managed to achieve revenue growth of 248% and has contributed to ASSA’s profit. This increase in growth made AnterAja contribute to 54% or Rp. 2.8 trillion of ASSA’s total revenue.

Since its inception, ASSA’s revenue trend has always been dominated by the rental business, followed by sales of used vehicles until the first quarter of 2021.

“Then, since the second quarter of 2021, revenue from the logistics business line, which consists of ASSA Logistics Services and Anteraja, has managed to increase more than the revenue contribution from other lines of business,” said ASSA President Director Prodjo Sunarjanto.

Anteraja Uses Robot System to Speed ​​Up Package Sorting Process

Anteraja CEO Suyanto Tjoeng said that his party is optimistic that the presence of robotic sorting can increase productivity and sorting efficiency by up to 200 percent with a robotic work accuracy rate of more than 99 percent.

“The robotic system is able to speed up the sorting process up to 2 times than usual,” said Suyanto in a press release, Thursday (14/4/2022).

Suyanto said that in the midst of many automation systems in the logistics industry, the sorting system using robots is the most suitable for Anteraja’s current business model.

This is because the work speed of the robot can help increase the productivity of the sorter team. The development of technological innovations carried out by Anteraja cannot be separated from the positive performance gains that have been successfully recorded even though it has only been established for 3 years.

In 2021, Anteraja’s shipping volume was recorded at more than 1 million parcels per day, or an increase of more than 3 times compared to 2020.

In addition, its service network is also getting wider, where currently Anteraja already has more than 1,000 service points in 34 provinces in Indonesia.