GoTo Sells 251 Electric Motor Units Worth IDR 23.6 Billion

JAKARTA - PT GoTo Gojek Tokopedia Tbk (GOTO) sold 251 units of electric motorcycles, accompanied by 502 units of battery equipment and trademarks worth IDR 23.6 billion.

In GOTO's statement, quoted on Friday, August 5, the object of the assessment is 251 units of the Smartscooter Gogoro 2 Plus electric motorcycle and 502 units of the Smartscooter Gogoro 2 Plus electric motorcycle battery vehicle.

"This transaction was carried out by GOTO's subsidiary, PT Rekan Anak Bangsa (RAB), and GOTO's affiliated company PT Energi Kreasi Bersama (EKB)," said GOTO.

GOTO is recorded as having 58.798 shares or representing 99.99 percent of the total issued and paid-up capital of RAB. RAB is a company controlled by the company.

Meanwhile, EKB is an affiliated company of GOTO. GOTO through RAB owns 35,857 shares or represents 50 percent of the total paid-up and issued capital in EKB.

On the other hand, the other 50 percent of EKB's shares are held by PT Karya Baru TBS, which is a subsidiary of PT TBS Energi Utama Tbk. (TOBA).

GOTO management continued, the sale and purchase transaction of electric motorcycle assets along with battery equipment and trademarks from RAB to EKB was carried out by taking into account the development of the business direction of RAB and EKB.

According to GOTO, the management and trading of electric motorcycle assets, as well as battery equipment and trademarks is more optimal if managed by EKB in running and developing its business activities.

"The transaction is stated in an asset sale and purchase agreement dated July 29, 2022, between RAB as the seller and EKB as the buyer," wrote the GOTO management.

Based on the asset sale and purchase agreement, the price agreed upon by the parties is IDR 23.6 billion, which does not include VAT. With the benefits obtained by EKB in the future, GOTO is also expected to receive indirect benefits, including a good portfolio from EKB through dividends received by GOTO from EKB in the future.

This is because GOTO, also indirectly, through the RAB, owns 38.875 shares in EKB or represents 50 percent of the total issued and paid-up capital of EKB.