Jakarta, 31 August 2021 – PT Cashlez Worldwide Indonesia Tbk (Cashlez), the first payment financial technology company to take the floor on the Indonesian Stock Exchange with the stock code CASH, posted consolidated net income of IDR 58.8 billion in the first half of 2021. This realization grew 298.5% or nearly 3x compared to the same period last year, which amounted to IDR 14.7 billion.

 

The increase in net income was accompanied by a growth in gross profit of 108% yoy to IDR 17.9 billion. President Director of Cashlez, Suwandi said, this positive growth was supported by several Company strategies ranging from collaboration, transformation and technological innovation to product and service optimization.

 

"During this pandemic, Micro, Small and Medium Enterprises (MSMEs) are one of the sectors that have been significantly affected, but from the positive side there is an acceleration in the use of digital technology by MSMEs in penetrating the digital market in Indonesia. For this reason, Cashlez is ready to help and support MSMEs in facing the impact of the Covid-19 pandemic by providing a platform that can help process consumer payments digitally for various types of payments, either via card (credit card & debit card) or via digital (QRIS, Virtual Account, & e-wallet) in one platform.” said Suwandi.

 

Until the end of June 2021, there were 13.6% of new merchants who joined Cashlez, coming from various segments, including Sentul City Clean Market, Pasar Baru Bandung Showcase, Brown & Spirits and Pass Swab.

 

In addition, the company also continues to develop the existing platform across all digital ecosystems, not only in the payment platform, but also in the funding platform for merchants and consumers. From the merchant side, Cashlez is currently working with several funding (lending) providers such as Commonwealth Bank, Duha Syariah and KoinWorks to help businesses get funding. Meanwhile, from the consumer side, Cashlez has been able to process installment payments or what is commonly known as PayLater as an alternative payment for consumers during this pandemic.

 

Maintaining a healthy capital structure to maintain profitability

 

Until the end of June 2021, the company’s total assets reached IDR 165.34 billion, with total liabilities of IDR 57.1 billion, while the company’s equity was at IDR 108.28 billion. The company will continue to strive to maintain an optimal capital structure in order to sustain business growth in a sustainable manner.

 

For the main performance driver of the Company in undergoing the second semester of 2021 which is still overshadowed by economic instability due to the impact of the Covid-19 pandemic, Suwandi explained, Cashlez has prepared several new strategies to carry out a ’quantum leap’, both in terms of organic growth and inorganic growth.

 

"We will continue to monitor the development of the Covid-19 pandemic and continuously evaluate its impact on the company. On the other hand, we are also preparing several new strategies to maximize long-term sustainable business growth.” he closed.
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