AFTER several quarters of share price decline, Indonesia’s biggest tech company GoTo has found a way to boost its languishing e-commerce unit.

On Dec 11, the group, which is listed on the Indonesia Stock Exchange, announced that it was effectively ceding operational control of Tokopedia to social media giant TikTok.

Tokopedia and TikTok Shop Indonesia will merge under the Tokopedia name. TikTok will take a 75.01 per cent stake in the resulting entity, with GoTo owning the rest.