Jakarta, CNBC Indonesia – A mobile phone retailer, PT Tiphone Mobile Tbk (TELE), reshuffled the company’s management at the Company’s Annual General Meeting of Shareholders which was held today, Thursday, November 18, 2021.
The shareholders approved Sofyan Basir as the main commissioner as well as the independent commissioner. Sofyan previously served as president director at PT PLN (Persero) and PT Bank Rakyat Indonesia Tbk (BBRI).
Meanwhile, the other Commissioner positions are Mr. Henry Christiadi and Mr. Heriawan. In addition to reshuffling the commissioners, TELE’s shareholders also approved the reshuffle of directors. Muhammad Syawaluddin, and Ofan Sofwan entered as new directors of the company.
Meanwhile, the position of the Company’s President Director remains held by Tan Lie Pin. Gatot Bekti Haryono also still serves as director.
TELE’s Corporate Secretary, Semuel Kurniawan said, with the presence of several new faces in the company’s management who have experience in the business world.
“It is hoped that the company can develop its business even better in the future,” he said.
The reason, said Semuel, is that the Covid-19 pandemic in the last two years has caused business transformation to change rapidly and change the habits of cellular subscribers, which is marked by the increasing number of digital and online services.
This also has an impact on the decline in sales which has an impact on the company’s income. One of them is the termination of the company’s cooperation contract with Telkomsel since 2020.
Semuel said that currently the company is still running its existing business, namely credit distribution through collaboration with bank aggregators and modern channel partners.
He admitted that in recent years, TELE’s revenue has been contributed more from the sale of vouchers through traditional networks or outlets spread throughout Indonesia as well as cooperation with hundreds of thousands of existing retailers.
In 2022, he said, TELE will focus on developing voucher distribution through modern networks, especially with the banking sector whose portion will be increased again.
According to Semuel, by focusing on modern networks, the company can reduce the burden of store management costs which are quite large in recent years.
As is known, since December 31, 2019, the company posted a negative cash flow from operations. This also continued with a decline in sales until September 30, 2020.
This happened because of the lack of income during the pandemic when the mall had to be closed. In addition, in 2020, the company also resolved the case of delaying debt payment obligations (PKPU).
The latest development, regarding this PKPU, on January 4, 2021, the peace proposal submitted by the company team together with the appointed financial advisor has been accepted by the creditors in a trial at the Central Jakarta District Court. All creditors agree to the peace proposal that has been submitted. One of the points in the settlement is the restructuring of the company’s debt within a period of 10 years.
(sys / hps)
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