The Cashlez Boards of Director at Annual GMS & Extraordinary GMS in Jakarta, 31 May 2022

JAKARTA, May 31, 2022 – The condition of the Covid-19 pandemic that will still occur throughout 2021 has a broad impact on the economic activities of the community. Limited physical activity is an obstacle for business activities ranging from micro to large scale. In the midst of this challenging situation, PT Cashlez Worldwide Indonesia Tbk (the “Company”) is here to provide solutions for digital transaction and payment activities. This of course can provide benefits in the form of opportunities for both business partners and the company itself.

 

The company with the Cashlez trademark closed the 2021 financial year with a positive performance. The company recorded a net income of Rp 140.85 billion. This figure was recorded to increase by 67.04% from the previous year’s revenue. This revenue growth also affects the company’s gross profit in 2021, where the Company recorded a gross profit of Rp. 36.88 billion, an increase of 15.23% or Rp. 4.87 billion compared to gross profit in 2020 which recorded a gross profit of Rp. 32.01 billion.

 

"The company has taken several steps and policies to be able to maintain its positive performance in 2021. Broadly speaking, the strategies carried out by the Company include expanding cooperation with various partners from various segments to facilitate integration, adding added value for merchants and investing in development of various supporting infrastructures.” said Suwandi, The President Director of Cashlez in a Public Expose for the 2021 Fiscal Year which was held virtually today, Tsuesday, May 31, 2022.

 

Throughout 2021, the Company faced various challenges caused by the Covid-19 pandemic which still hit almost all parts of the world. This situation of economic instability has more or less had an impact on the performance of the business world in general. The business world faces the risk of economic uncertainty and the risk of a significant weakening of people’s purchasing power, which will affect the demand for goods and services. This triggers the emergence of risks, ranging from implementing efficiency measures to closing outlets or businesses of some of the Company’s merchants. Closing of business or merchant outlets, especially those that use payment technology solutions from the Company, is an obstacle and risk to the Company’s operational and financial performance. Therefore, in 2021 the Company still recorded a net loss of Rp. 8.68 billion.

 

Nevertheless, Suwandi emphasized, through optimizing available opportunities and responding to existing challenges by increasing public acceptance and preference in conducting digital financial transactions throughout 2021, the Company strives to maintain strong business growth, by successfully increasing the number of merchants to more than 13,000 or grew by 43.98% from the previous year.

 

This year the company also made changes to the management of the company. Based on the results of the Annual General Meeting of Shareholders (AGMS) and Extraordinary General Meeting of Shareholders (EGMS) which were held today, it was decided to replace the position of Commissioner, so that the structure of the Company’s Board of Commissioners has changed into:

 

  • President Commissioner concurrently Independent Commissioner: Laurentius Firman Wiranata
  • Commissioner: Andi M. Andries

 

Business Prospects in 2022

 

In line with the increasingly widespread distribution of the Covid-19 vaccine and the economy gradually expanding, the public is preparing to face the era of new habits (new normal). In the new normal era, there is a change in transaction patterns in the community where public acceptance and preference for non-cash transactions and digital payment systems is increasing.

 

“We believe that the demand for digital payment solutions will be even higher in the future. With the projection of Indonesia’s economic recovery accompanied by the Government’s commitment to improve various infrastructures that can facilitate the advancement of the digital economy, we believe there will be more MSMEs Go Digital, which will have an impact on the demand for digital technology-based products and services offered by the Company. This is in accordance with the Company’s commitment to continue to support MSMEs to be able to use digital technology in their business payment systems," said Suwandi.

 

Suwandi added that the Company is optimistic that it can show a more optimal performance compared to 2021 by targeting 10,000 new merchants, increasing revenue by 158 billion and conducting training and development of digitalization of payments to 20,000 MSMEs in 2022.

 

The Company is committed to continuing to follow market developments in every formulation of the Company’s business strategy. In addition, in order to realize the sustainability of the Company in a sustainable manner, the Company continues to implement 5 (five) principles of Good Corporate Governance (GCG), namely the principles of transparency, accountability, responsibility, independence and fairness based on the regulations that apply in each aspect of business. .

 

"We remain committed to always providing the best in order to achieve the Company’s performance in a sustainable manner. The Board of Directors also hopes that the Company can contribute to increasing economic growth in Indonesia,” concluded Suwandi.

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