Officially Launched IPO, Startup Telefast Indonesia Focuses on the HR Markets

A startup company, PT. Telefast Indonesia Tbk, has been officially marketed its shares in the Indonesian stock market. This new issuer is coded TFAS in the market and expected to focus on dealing with human resources through the providers of employment applications and job seekers.

Telefast Indonesia’s Director and CEO, Jody Hedrian, said that his party wanted to discuss opportunities in markets or businesses related to human resources. “At present, there are not many people who have digitalized human resources, striving for these human resources to be digitized and integrated.”

For this reason, he said that there is a great opportunity to develop the HR industry from the IT side, namely applications. TFAS itself has four business lines, such as a distribution of telecommunication products, an application named HR-Ku, a digital platform named Bilik Kerja, and an HR outsourcing service.

The distributor of telecommunication products is served in Banten and Central Java. Meanwhile, the HR-Ku app is a cloud-based service for the Human Resource Information System (HRIS). In terms of HR outsourcing services, the company offers it through its subsidiary, PT Emitama Wahana Mandiri.

Telefest Provided 416.66 Million Shares on Its IPO

On its initial public offering (IPO), PT. Telefast Indonesia Tbk provided 416.66 million shares or similar to 25% of the total shares. The initial price offered for each share is IDR 180. Previously, TFAS posted a bid price of IDR 170-210 per share.

This offer only lasted for three days before the official IPO. With the price and the number of shares offered, TFAS was expected to reach fresh funds of around IDR 74.9 billion. Jody said that his party is optimistic to reach the target.

According to Jody, investing in technology startups like TFAS is still attractive to the public, particularly with the increasing workforce needs. “The interest is quite high since it was already busy at 7 am. But, we haven’t received information about the percentage of those who made the purchase.”

Jody said that the fresh funds from the IPO will be used for working capital by 70%, business development of HR-Ku and Bilik Kerja software by 25%, and the rest of 25% would be employed to invest in everything related to human resource recruitments.

The IPO Is Supposed to Expand TFAS Human Resource Products

The listing of TFAS in Indonesia Stock Exchange is expected to develop the company business, especially in HR products. Jody targeted that within 5 years, the HR products will contribute 55% and 45% of the voucher distribution. While currently the largest contribution is still dominated by the distribution of vouchers.

However, the company is open to develop other innovative applications as well. Meanwhile, the TFAS sales this year are expected to reach IDR 687 billion or 10.96% higher from last year’s position reaching which valued IDR 619.11 billion. Until March 2019, the company has recorded sales of IDR 134.16 billion.

Furthermore, this year’s profit of the company is targeted to reach IDR 19.7 billion or 4.28% higher from last year’s position which was only IDR 18.89 billion. Meanwhile, until March 2019, the profit of TFAS was recorded to reach IDR 5.40 billion.