17 Years of KREN's Success on the Indonesia Stock Exchange (IDX)
Jakarta, 28 June, 2019 - PT Kresna Graha Investama Tbk ("Company" or "KREN") today opened the shares trading on the IDX in order to celebrate the Company's 17th anniversary of listing on the IDX. This ceremonial marked the Company's journey as a publicly-listed company engaged in financial and technology sectors with shares ticker code KREN on June 28, 2002.
After listing its shares on the IDX in 2002, KREN continues to emphasize its position as the 'Digital Business Integrator'. In the past two years, KREN has become an active investor in various digital and technology sectors, including the digital payments, P2P Lending, distribution, retail, communications, travel, transportation, entertainment, advertising, Software-as-a-Service (SaaS), and Artificial Intelligence (AI).
The Company achieved various achievements, including assisting its subsidiaries, PT NFC Indonesia Tbk (NFCX) and PT Distribusi Voucher Nusantara Tbk (DIVA) to listed their shares on the IDX in 2018, following the success of PT M Cash Integrasi Tbk (MCAS) IPO in November 2017. Through an expansive business network, KREN continues to encourage these companies to grow faster and stronger, and also encouraging other subsidiaries to go public.
KREN has strengthened its footing with a large and in-depth distribution infrastructure spread throughout Indonesia with its success in doubling the distribution point in 2018 by 47.4% YoY, to 75,910, growing from 51,482 in 2017. With a large infrastructure presence, KREN managed to collect 12.9 million users in 2018, up 40.2% YoY from 9.2 million users in 2017.
Massive expansion and investment in various digital initiatives have paid a satisfactory results for KREN, with net profit growth of 71.9% YoY, from Rp292.9 billion in FY17 to Rp503.5 billion in FY18. At present, the contribution of the technology and digital segment to the Company's total revenue reached 88% in 2018, increase compared to 2017 of 84%.
In its business, KREN seeks to build an integrated digital infrastructure and distribution, allowing users use products 'naturally', and to have a comprehensive in-depth data access. By building the digital infrastructure through various platforms, KREN will continue to strengthen its business strategy to realize its vision as a leader who accelerates the transformation of the digital lifestyle of the Indonesian society.