GoTo Takes Over Tokopedia's Warehousing Business "Swift Logistics"
Through its subsidiary, PT Paket Anak Bangsa (GoSend), it purchased new shares worth IDR 583,12 billion
PT GoTo Gojek Tokopedia Tbk (IDX: GOTO) announced the inclusion of new shares in the context of the takeover of PT Swift Logistics Solutions (SLS). This transaction was carried out through a subsidiary of GOTO, PT Paket Anak Bangsa (PAB) or GoSend, which bought new shares worth IDR 583,12 billion.
Corporate Secretary of GOTO RA Koesoemohadiani said PAB is a subsidiary that is owned at least 99% by GOTO. SLS is a subsidiary whose shares are owned by GOTO by 67%. "The transaction has no detrimental impact on the Company's finances," he said in the information disclosure on the Indonesia Stock Exchange (IDX).
In the disclosure, the company also conveys the reason behind this transaction is to reorganize and consolidate the group structure.
After this transaction, the shareholder structure in SLS will automatically change. PAB controls 99,44%, SGT's ownership is diluted to 0,38%, and the remaining 0,18% is owned by PT Garda Jaya Sejahtera. GOTO indirectly owns shares in SLS, through PAB and SGT with a total of 99,81%.
For information, Swift Solutions is a subsidiary of Tokopedia in the logistics sector that offers warehousing and shipping solutions. According to the GOTO prospectus, SLS was acquired by Tokopedia, through PT Spirit of Gerak Tangkas (SGT), in 2021. SGT made a 67% equity investment in SLS.
Not only SLS, Swift also has other subsidiaries, namely PT Swift Shipment Solutions (SSS) and PT Swift Enabler Solutions (SES). Both were also acquired by SGT and are now part of the GoTo Group. SLS operates Served by Tokopedia, previously known as TokoCabang.
The people behind SLS are the founders of Sorabel, a startup E-commerce who went out of business in July 2020. One of them is Samuel Simanjuntak who currently serves as CEO and Co-Founder of SLS.
Quote from Dataword, according to a survey conducted by INDEF, the majority of online traders in Indonesia use online logistics services from applications Gojek, namely GoSend. This service is chosen by 64% of respondents, then others use proprietary services Grab (42,19%), Shopee Express (28,13%), Lalamove (18,75%), AnterAja (10,94%), Ninja Express (7,81%), and Deliveree (5,47%).
"GoSend is considered an online logistics service that provides ease of use of applications, and supports seller productivity by providing the most efficient service. GoSend is also the online logistics service that provides the most sense of security for its users, above average industry satisfaction," said INDEF in its report. .
In general, INDEF finds that online logistics services in Indonesia continue to grow along with the development of online shopping trends e-commerce, social media or other media.
"Most of the respondents who use online logistics services (61%) admit to using instant messaging platforms such as WhatsApp, Facebook Messenger, Telegram, and others in selling products."
This survey was conducted by INDEF in the period August-September 2022 in Greater Jakarta, Bandung and Surabaya. A total of 1.152 respondents were traders who used online logistics services to send goods. As many as 41% of respondents were male and 59% female.
The majority of respondents are aged between 18-29 years (45,83%) and 30-41 years (41,67%), with an average monthly income of IDR 2,5 million-IDR 5 million (31,58%) and IDR 5 million-IDR 10 million (28,95%).