An accelerator for Indonesian SME digitalization
Tuesday, 30 October 2018 – PT Distribusi Voucher Nusantara Tbk (“DIVA” or “the Company”), a subsidiary of PT Kresna Graha Investama Tbk (KREN), holds a Due Diligence and Public Expose, announcing its plan to list its shares on the Indonesia Stock Exchange (IDX) in November 2018. The Company will offer a maximum of 214,285,700 new shares, equivalent to 30.0% of its paid-up capital, at an Initial Public Offering (IPO), its price ranging between Rp 2,800 and Rp 3,750 per share. The Company has appointed PT Kresna Sekuritas (Affiliated), PT Trimegah Sekuritas Indonesia Tbk, and PT Sinarmas Sekuritas as the Lead Underwriters.
As a digital business converter and accelerator, DIVA aims to modernize the 56.6 million Small-Medium Enterprises (SMEs) operating today in Indonesia, empowering them with both technology and innovative products, and aligning their strategy with the Company vision that positions SMEs as the “powerhouse” of Indonesia’s digital economy. DIVA views an IPO as an essential strategy in realizing this vision; the Company plans to use 55% of the proceeds for working capital, 40% for capital expenditure, and the remaining 5% is to be directed to investment in human capital.
Through its digital platforms, “DIVA Smart Outlet” (SO) and “DIVA Intelligent Instant Messaging” (IIM), the Company introduces an open architecture, a plug and play platform empowered with multi-product and multi-channel capabilities to support retailers or distributors in managing their business. DIVA SO is a unified multi-payment device that can process various cash and non-cash payments as “point-of-sale” (POS), and offers various digital products, while DIVA IIM is an integrated platform system, empowered by advanced chatbot and Artificial Intelligence (AI), riding on popular Instant Messaging applications such as WhatsApp, LINE, Telegram, and Facebook Messenger. With the nearly 17,000 SMEs that DIVA is currently linked up with, the Company offers a bundled product, in a joint collaboration between industries. Through the DIVA platform, a vision translates into DIVA Business Architecture (DBA) empowering telco, travel and branchless banking agents, including SMEs, from single product & channel to multi-product/multi-channel.
Dian Kurniadi, Director of DIVA, points out that ‘As technological advancements and innovations disrupt our lives and boost our digital economy, Indonesian SMEs are yet to be fully-digitalized; with 56.6 million SMEs, and only 8 Million targeted to be digitalized by 2020, not to mention the low rate of financial inclusion because of which the government aims to have 75% of our population bankable by 2019, DIVA has built an ecosystem and infrastructure platform, accommodating supply-side and user-side with a B2B2C ecosystem, using the latest technology and countless hours of experience in telco, banking and tour travel domains. We believe that DIVA is moving in the right direction to convert and accelerate Indonesian SMEs into becoming so-called “digital troops of the Indonesian economy”. With our technology and digital platform, we believe that we are revealing a huge potential to boost exponential growth for our economy through SMEs.’
Raymond Loho, President Director of DIVA, cites how ‘Empowered with advanced technology, packaged compactly to fit SME needs, DIVA will not only empower SMEs to go digital but also boost their contribution to Indonesia’s overall economy. We believe that the IPO represents only the beginning of what DIVA can do to empower Indonesian SMEs to compete in the digitalized economy we are heading toward today. In 5M18, the Company managed to ink Rp 3.3 billion net profit, a 280.1% YoY jump, compared to that in 5M17. Through this IPO, we expect this exponential growth performance can be maintained in coming times.’
Suryandy Jahja, Managing Director of KREN, stressed that ‘DIVA is the extension of our Company’s interest in leveraging and amplifying the potential of Indonesian SMEs by going digital. By digitalizing Indonesian SMEs, according to research performed by Deloitte, our economic growth will be boosted by 2%. Thus, KREN views DIVA as the pivotal point that is simply going to empower and accelerate the process. Through its plug-and-play platform and the ability to raise financial inclusiveness, DIVA is one of KREN’s building blocks as the digital business integrator to tap the massive potential in Indonesia SME sectors and strengthen the KREN digital ecosystem in this sector. With the open architecture that is built around DIVA platforms, there will be exciting integrations coming up, and KREN’s involvement through DIVA is just the beginning of it.’
