Steady Safe acquires firms

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)