Sat, 21 Feb 2004

Centris to add 250 new taxis

The Jakarta Post Jakarta

Publicly listed taxi operator PT Centris Multipersada plans to expand its fleet with 250 new cars this year in a bid to boost its revenue, company CEO said.

"If the general election is successful, we plan to add between 200 to 250 new taxis," Centris' president Omar Danni Hassan told reporters at a media conference on Friday.

It is not immediately clear how much investment would be needed for the expansion. Omar only said the company would finance the expansion program itself.

The company currently has 2,693 taxis.

Omar said the company projected revenue this year to increase by 28.20 percent to Rp 100 billion compared to last year's Rp 78 billion.

As of last year, Omar said, the company still had short-term debt amounting to Rp 30.39 billion. Centris had previously repaid some Rp 44.63 billion.

For 2003, the company booked an unaudited revenue of Rp 78.40 billion or up 32.65 percent from Rp 59.16 billion in the previous year.

The company through its subsidiary PT Ratax Armada also invested in the Trans Jakarta Busway project in 2003 by purchasing 33.3 percent shares at Rp 330 million.

Omar said the company expected a return on investment within four months.

Centris operates taxis in Jakarta, Bandung in West Java, Semarang and Solo in Central Java, Yogyakarta, Surabaya, Sidoarjo and Malang in East Java, and Medan in North Sumatra.