Steady Safe acquires firms

JAKARTA (JP): PT Steady Safe, a publicly listed transportation company, has expanded its business by taking over majority shares in two taxi companies.

Steady Safe's vice president, Datin R. Nor, said here yesterday that her company signed agreements on the share takeover early this month.

The two taxi firms are PT Sembada Permai Prakarsa Sejati and PT Sonnypong Yatim, both of which operate 1,031 cabs in the Jakarta greater area.

She refused to comment on the value of the takeover and the portions of the shares acquired.

Steady Safe owns and operates four taxicab armadas under the name of Steady Safe, Spirit, Transit and Swadharma, with a total fleet of 1,650 cabs. The company's other businesses include the operation of Masstrans express air-conditioned buses as well as limousines and car rentals. (icn)