Blue Bird eyes boost in logistics revenue
JAKARTA: The owner of Blue Bird, Indonesia's biggest taxi operator, plans to boost revenue from logistics at least fivefold by delivering more sandwiches and electronics to a burgeoning middle class.
The Djokosoetono family, whose Iron Bird unit transports dry and chilled goods to 7-Eleven convenience stores in Jakarta, plans to increase the share of logistics in group sales to more than 50 per cent "ideally," from about 10 per cent now, said Noni Purnomo, a director at PT Pusaka Citra Djokosoetono, the parent company of Iron Bird and Blue Bird.
Blue Bird sees more companies wanting to avoid the hassles of dealing with distribution and is relying on its reputation for reliability that has spawned a host of copycat taxi operators.
Blue Bird has about 28,900 vehicles, more than three times its rival PT Express Transindo Utama, which has a market cap of 3.6 trillion rupiah.
It seeks to raise at least US$600 million from the IPO, which may start in the fourth quarter, sources said in July. Bloomberg