Digitalization has become an important factor for businesses in the midst of COVID-19 pandemic and advancement technology in the new era. Printing company PT Jasuindo Tiga Perkasa Tbk is not excluding from facing problems in this advancement. The need for expansion for the company’s core machinery is important for their investment.
Jasuindo Finance Director Lukito Budiman said that the company, which has been trusted by many governments in its printing products especially security documents, has focused on working on sectors affected by COVID-19.
“These technologies are based on both IT technology products and printing technology. The current technology is based on digitalization. We need a more sophisticated printing machine technology. In the past, many products were done manually by workers. Now, they are replaced with machines, which can produce more efficient products,” Budiman said.
Jasuindo has allocated a total capital expenditure (Capex) of IDR27.5 billion in 2022 for business expansion. A total of IDR15 billion is allocated for factory expansion in Sidoarjo, East Java, while IDR12.5 billion is for buying new machines for the factory. The Capex would come from the company’s retained earnings and 60% of this year’s profit allocated for business expansion.
“The company does not require domestic or international loans. [The Capex] is from assets from the company’s retained earnings,” said Budiman.
The company’s first quarter sales in 2022 was IDR167 billion, a 53.3% increase from the same period last year of IDR108.9 billion.
Jasuindo has targeted 12% in sales growth and a 10% increase of net profit in 2022. Its net profit increased by 76.9% from IDR7.4 billion in the 2021 Q1 to IDR13.1 billion in the same period this year.
The company is trying to restore its market segments that were affected by COVID-19 pandemic. It produces security document printing products – such as e-passport and e-sign – by IT solutions development to meet the needs of manufacturing, transportation, and health industries. It also develops product innovations such as RFID and brand protection.
The company will also provide dividends of IDR37.6 billion or 41.18% of the 2021’s profit.
“Overseas expansion in printing security document business is very expensive. However, the management remains optimistic that overseas markets can improve,” Budiman said.
Jasuindo was established in 1990. The company is well known worldwide, with oversea customers of 15 governments of the Philippines, Hong Kong, Singapore, the US, United Kingdom, India, Australia, Ghana, South Africa, Lebanon, Italy, Kazakhstan, Uzbekistan, Brazil, Congo, Mongolia, Argentina, Ukraine, Zimbabwe, Taiwan, Bulgaria and Mexico. Its customers also consists of over 40 banks.
Jasuindo – which got awards by Forbes magazine in 2012, 2013, 2014 and 2018 – offers solutions in identity, payment, brand protection/track & trace and commercial printing.
