JAKARTA. PT Transkon Jaya Tbk (TRJA) decides to spin-off its own internet service provider (ISP) business division, PACNet, that have been operating since 2011.

The management of TRJA said that PACNet will then merge into PT Multinet Perkasa Indonesia (MPI), one of the company’s subsidiaries. MPI itself is a business entity that is engaged in the computer trading business, IT services, and ISP services.

“The spin-off will include transferring the entire business division of PACNet owned by the company to MPI. It includes the transfer of all rights and obligations that entail, such as customers, suppliers, employees, and trademarks of PACNet,” the management of TRJA mentioned in the official statement.

With this spin-off on hand, TRJA will then focus on Light Vehicle (LV) 4x4 rental services, as well as enhancing other business segment through its subsidiary, MPI. The spin-off is also expected to improve its internet business line through its subsidiary.

TRJA’s shareholders had previously agreed to spin-off the ISP business unit. According to the meeting result, the spin-off will take place on June 22, 2023. (KR/ZH)