PT Express Transindo Utama Tbk (Express) is an Indonesian taxi operator controlled by Peter Sondakh's Rajawali Corpora, one of the biggest conglomerates in Indonesia. Rajawali Corpora, founded in 1984, is active in multiple sectors such as mining, plantation, transportation and property. Express is one of Indonesia's leading taxi operators with currently over 11,000 taxis in operation in primarily the Greater Jakarta Area as well as in a number of other large cities in Indonesia. According to the company, it holds a market share of about 30 percent in the Greater Jakarta Area's taxi services sector.
|Industry Sub Sector||Transport Services|
|Listed||2 November 2012|
|Listed company code||TAXI|
|Major Shareholders (>5%)||Rajawali Corpora (51.00%)|
|Key Subsidiaries||Satria Express Perdana
Express Sabana Utama
Express is the biggest competitor of the Blue Bird Group with regard to taxi operations in Indonesia. Currently Blue Bird is still market leader but Express is showing signs of aggressive expansion. On 2 November 2012 Express debuted on the Indonesia Stock Exchange (making it Indonesia's first publicly traded cab service) by selling 49 percent of its equity. Express will use proceeds of the IPO to increase and rejuvenate its fleet, and to acquire an entire stake in a small taxi operator (Ekspres Mulia Kencana) which will add 2,000 licensed taxi units to the company.
Express provides the following services:
• Regular Taxi Services
• Premium Taxi Services
• Value Added Transportation Business
However, almost 90 percent of the company's income comes from the regular taxi services.
|Taxi Fleet Size
¹ indicates a prognosis
Sources: NewsIDX and Expressgroup.co.id
The Indonesian Taxi Market
Despite the chaotic conditions (traffic congestions) on the roads of some big Indonesian cities - brought on due to a lack of investments in the country's infrastructure - Indonesia's taxi market offers growth opportunities for a number of reasons:
• The country contains a large population that becomes increasingly urbanized.
• Macroeconomic growth; Indonesia's middle class is expanding and GDP per capita rises accordingly.
• A lack of investments in public transportation makes taxis a more attractive alternative.
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Fax: +62 21 2650 7001