GoTo Plans to Step Up Share Buybacks, CFO Says — Interview

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(08:29 GMT) *GoTo Aims to Step Up Share Buybacks to Return Value to Shareholders, CFO Says (08:29 GMT) *GoTo CFO Hasn't Seen Any Significant Impact From Mideast Conflict on Business So Far (08:29 GMT) *GoTo CFO: Indonesia's Fuel Subsidies Helping Cushion Against Mideast Headwinds (08:29 GMT) *GoTo CFO: Aiming for Operating Results to Improve Over Coming Quarters (08:29 GMT) *GoTo CFO: Always Open to M&A Discussions (08:30 GMT) GoTo Plans to Step Up Share Buybacks, CFO Says — InterviewBy Kimberley KaoSoftBank-backed GoTo Gojek Tokopedia remains open to merger-and-acquisition opportunities, and plans to boost shareholder returns as earnings improve, its chief financial officer says.GoTo, one of Indonesia's largest ride-hailing companies, plans to step up share buybacks as part of a more systematic approach to capital allocation, CFO Simon Ho said after the company posted its first-ever quarterly net profit."From where we were buying back [shares] in the last two quarters, we will step that up and increase in line with the improvement in cash flows," Ho said.GoTo, which is also backed by Alibaba, has spent just $140 million on share buybacks since June 2024.This is despite the company receiving shareholder approval for a $200 million buyback program which ended in June 2025, then getting the green light for another same-sized program due to close next month.It spent $12 million on share buybacks in the first quarter of this year.While previous repurchases were largely opportunistic, Ho said the company now aims to make them more sustainable."The core profitability of the operations [is] getting better," he said. "We hope that [share buybacks] will continue to grow."The CFO's comments came just a day before Indonesia announced plans to cut the cap on commission that ride-hailing platforms can collect from drivers.GoTo said in a statement that it is seeking more information about the policy and will in time "conduct a holistic assessment and plan the most suitable business plan in order to implement the relevant provisions."Rival ride-hailing platform Grab has also said that it is looking for clarity on the regulatory change.Amid intense competition in Southeast Asia's ride-hailing and food-delivery market, there has long been speculation about a merger of GoTo and Singapore-based Grab.Talks of a potential combination gained steam late last year after media re...

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