No 9. Jasuindo Tiga Perkasa
    Category: Best of the Best By : Kellen Svetov Read : 3409 Date : Thursday, July 10, 2014 - 06:08:10

    Courtesy of Jasuindo Tiga Perkasa

    Despite predictions of paperless offices, PT Jasuindo Tiga Perkasa is doing just fine as the country’s largest publicly traded multiservices printing firm (by sales). “We would like to supply an end-to-end printing service for our customers,” says President Director Allan Wibisono.

    Founded in 1991, Jasuindo got its first big boost in 1996, when the firm obtained a security printing license, allowing it to print financial documents, such as stock certificates. This license allowed Jasuindo to reap the benefits of increased trading volume on the IDX. Fueled by growth in security printing, Jasuindo listed in 2002. In subsequent years, Jasuindo grew the security printing business into a cash cow, accounting for roughly half of its annual sales of Rp 600 billion last year. Its two other business lines, business documents and credit card printing, roughly split the remaining 50%.

    In recent years, Jasuindo’s roster of services has moved beyond printing, expanding to document storage, delivery services and document layout services. The shift from a manufacturing-oriented to a service-oriented model reflects a strategy to add value beyond physical production. “We can’t just sell products, we have to provide services and allow our customers to focus on what they’re best at,” says Allan, who has been president director of Jasuindo since 2008, previously holding the position of company director from 1995. He owns about 7% of the firm, a stake worth roughly Rp 37 billion.

    In 2013, Jasuindo’s annual revenues increased by 30%. Despite this sharp increase in revenues, profit remained steady at Rp 40 billion due to an increase in the cost of goods and a foreign exchange loss. Without the foreign exchange loss, Jasuindo’s net income would have increased by 51% in 2013. Despite strong revenue growth, Jasuindo’s share has traded around Rp 300 for the majority of 2014, far below the historical high of Rp 405 set in 2012.

    In coming years, Allan forecasts consistent revenues from Jasuindo’s security printing segment, a slight decline in demand for business documents and particularly strong growth within the credit card segment. Allan stressed the focus on credit card printing as a vital strategic shift for Jasuindo.