Several shareholders of PT GoTo Gojek Tokopedia Tbk (GOTO), including SoftBank Group Corp, Provident Capital Partners, and Peak XV, are reportedly seeking to replace CEO Patrick Walujo. The shareholder action is linked to plans for a potential merger between GOTO and Grab.

Reports indicate that Badan Pengelola Investasi (BPI) Daya Anagata Nusantara (Danantara) could participate in the merger talks.

GOTO will hold an Extraordinary General Meeting of Shareholders (RUPSLB) on December 17, 2025, but details of the meeting agenda have not yet been provided.

GOTO Highlights Good Corporate Governance

R. A. Koesoemohadiani, GOTO’s Legal Director and Group Corporate Secretary, said the RUPSLB is a normal part of good corporate governance and does not signal any corporate actions.

"The plan to hold the Extraordinary General Meeting of Shareholders is not related to any corporate action. The RUPSLB is part of good corporate governance and should not raise concerns," he stated, citing Indonesia Stock Exchange disclosure on November 12, 2025.

He added that the meeting agenda will be announced on November 25 after review by the board of directors, commissioners, and other committees. Koesoemohadiani emphasized the company’s professional approach.

"The CEO, board of directors, and management remain fully committed to acting professionally and prioritizing the interests of the company and all stakeholders," he explained.

GOTO Denies Financial and Ownership Rumors

GOTO rejected claims of a US$300 million escrow fund in Singapore linked to the GOTO-Grab merger. The company also denied reports of additional share purchases or a buyout involving PT Telkom Indonesia (Persero) Tbk (TLKM).

"The company asserts that this information is false and misleading," the statement read.

PHOTO: KONTAN/BAIHAKI

This article was created with AI assistance.