JAKARTA. PT Telefast Indonesia Tbk (TFAS), a human resource services providers, is considering options for business expansion through acquisitions despite uncertainties in the midst of COVID-19 pandemic.
Jody Hedrian, President Director of TFAS, explained that currently his party is open to acquisitions, if there is a job portal platform that matches the company's qualifications. "If everything matches and is in line with the business synergy of Telefast," Hedrian said in the company's public expose held on Thursday (23/7).
On the other hand, Hedrian admitted that the COVID-19 pandemic was indeed an obstacle for startup companies. "It's not easy for startups to keep growing," Hedrian said.
During the first semester of 2020, TFAS spent a capital expenditure budget of Rp. 4.8 billion. Most of it is allocated for purchasing software and hardware, related to the company's product application development.
When asked about the company's performance of the first semester of 2020, Hedrian has not been able to provide an overview. However, in the first quarter of this year, the subsidiary of PT M Cash Integrasi Tbk (MCAS) recorded sales of Rp 146.86 billion, with a net profit of Rp 2.4 billion. (KR/AR)