Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to Rp264, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 10x in the Consumer Finance industry in Indonesia. Total loss to shareholders of 38% over the past three years. Announcement • May 06
PT KDB Tifa Finance Tbk, Annual General Meeting, Jun 11, 2026 PT KDB Tifa Finance Tbk, Annual General Meeting, Jun 11, 2026. New Risk • Apr 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 8.1% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (8.1% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 108% Cash payout ratio: 108% Minor Risk Market cap is less than US$100m (Rp1.17t market cap, or US$69.2m). Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to Rp380, the stock trades at a trailing P/E ratio of 22.8x. Average trailing P/E is 10x in the Consumer Finance industry in Indonesia. Total loss to shareholders of 7.2% over the past three years. New Risk • Jan 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: Rp1.63t (US$98.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 108% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (Rp1.63t market cap, or US$98.0m). New Risk • Jan 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 108% Paying a dividend despite having no free cash flows. Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to Rp540, the stock trades at a trailing P/E ratio of 32.4x. Average trailing P/E is 11x in the Consumer Finance industry in Indonesia. Total returns to shareholders of 13% over the past three years. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to Rp515, the stock trades at a trailing P/E ratio of 30.9x. Average trailing P/E is 10x in the Consumer Finance industry in Indonesia. Total returns to shareholders of 6.9% over the past three years. Board Change • Oct 24
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Independent Commissioner Jung Sik Choi was the last independent director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 12
PT KDB Tifa Finance Tbk announces Annual dividend, payable on July 11, 2025 PT KDB Tifa Finance Tbk announced Annual dividend of IDR 18.0000 per share payable on July 11, 2025, ex-date on June 18, 2025 and record date on June 19, 2025. Announcement • Apr 30
PT KDB Tifa Finance Tbk, Annual General Meeting, Jun 05, 2025 PT KDB Tifa Finance Tbk, Annual General Meeting, Jun 05, 2025. Location: jakarta Indonesia Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to Rp446, the stock trades at a trailing P/E ratio of 26.9x. Average trailing P/E is 9x in the Consumer Finance industry in Indonesia. Total returns to shareholders of 21% over the past three years. Announcement • May 09
PT KDB Tifa Finance Tbk, Annual General Meeting, Jun 13, 2024 PT KDB Tifa Finance Tbk, Annual General Meeting, Jun 13, 2024. New Risk • Apr 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: Rp1.57t (US$98.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risk Market cap is less than US$100m (Rp1.57t market cap, or US$98.9m). Board Change • Mar 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Independent Commissioner Jung Sik Choi was the last independent director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 14
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Independent Commissioner Jung Sik Choi was the last independent director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 20
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Independent Commissioner Jung Sik Choi was the last independent director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Oct 27
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company. Board Change • Aug 01
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. 3 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). Independent Commissioner Antonius Komala is the most experienced director on the board, commencing their role in 2016. Independent Commissioner Jung Sik Choi was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. New Risk • Jun 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.9% average weekly change). Board Change • Nov 16
No independent directors There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 7 new directors. 2 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). Independent Commissioner Antonius Komala is the most experienced director on the board, commencing their role in 2016. Independent Commissioner Jung Sik Choi was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Apr 27
No independent directors There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 6 new directors. 3 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). President Director Kang Kim is the most experienced director on the board, commencing their role in 2021. Independent Commissioner Jung Choi was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment deteriorated over the past week After last week's 20% share price decline to Rp640, the stock trades at a trailing P/E ratio of 60.7x. Average trailing P/E is 22x in the Consumer Finance industry in Indonesia. Total returns to shareholders of 978% over the past three years. Valuation Update With 7 Day Price Move • Nov 26
Investor sentiment deteriorated over the past week After last week's 17% share price decline to Rp790, the stock trades at a trailing P/E ratio of 74.9x. Average trailing P/E is 20x in the Consumer Finance industry in Indonesia. Total returns to shareholders of 1,231% over the past three years. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment improved over the past week After last week's 21% share price gain to Rp625, the stock trades at a trailing P/E ratio of 40.3x. Average trailing P/E is 28x in the Consumer Finance industry in Indonesia. Total returns to shareholders of 980% over the past three years. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorated over the past week After last week's 17% share price decline to Rp510, the stock trades at a trailing P/E ratio of 32.9x. Average trailing P/E is 24x in the Consumer Finance industry in Indonesia. Total returns to shareholders of 743% over the past three years. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment deteriorated over the past week After last week's 24% share price decline to Rp895, the stock trades at a trailing P/E ratio of 57.7x. Average trailing P/E is 21x in the Consumer Finance industry in Indonesia. Total returns to shareholders of 1,310% over the past three years. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 21% share price gain to Rp1,090, the stock trades at a trailing P/E ratio of 70.3x. Average trailing P/E is 22x in the Consumer Finance industry in Indonesia. Total returns to shareholders of 560% over the past three years. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment deteriorated over the past week After last week's 17% share price decline to Rp915, the stock trades at a trailing P/E ratio of 36.6x. Average trailing P/E is 21x in the Consumer Finance industry in Indonesia. Total returns to shareholders of 454% over the past three years. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 17% share price gain to Rp880, the stock trades at a trailing P/E ratio of 35.2x. Average trailing P/E is 23x in the Consumer Finance industry in Indonesia. Total returns to shareholders of 455% over the past three years. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment improved over the past week After last week's 16% share price gain to Rp985, the stock trades at a trailing P/E ratio of 39.4x. Average trailing P/E is 31x in the Consumer Finance industry in Indonesia. Total returns to shareholders of 483% over the past three years. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment deteriorated over the past week After last week's 15% share price decline to Rp1,200, the stock trades at a trailing P/E ratio of 48x. Average trailing P/E is 27x in the Consumer Finance industry in Indonesia. Total returns to shareholders of 573% over the past three years. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improved over the past week After last week's 67% share price gain to Rp1,645, the stock trades at a trailing P/E ratio of 65.8x. Average trailing P/E is 25x in the Consumer Finance industry in Indonesia. Total returns to shareholders of 842% over the past three years. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improved over the past week After last week's 25% share price gain to Rp810, the stock is trading at a trailing P/E ratio of 32.4x, up from the previous P/E ratio of 26x. This compares to an average P/E of 26x in the Consumer Finance industry in Indonesia. Total returns to shareholders over the past three years are 359%. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment deteriorated over the past week After last week's 19% share price decline to Rp680, the stock is trading at a trailing P/E ratio of 27.2x, down from the previous P/E ratio of 33.6x. This compares to an average P/E of 16x in the Consumer Finance industry in Indonesia. Total returns to shareholders over the past three years are 294%. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 16% share price gain to Rp650, the stock is trading at a trailing P/E ratio of 26x, up from the previous P/E ratio of 22.4x. This compares to an average P/E of 18x in the Consumer Finance industry in Indonesia. Total returns to shareholders over the past three years are 274%. Is New 90 Day High Low • Jan 06
New 90-day high: Rp650 The company is up 26% from its price of Rp515 on 09 October 2020. The Indonesian market is up 21% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Consumer Finance industry, which is also up 26% over the same period. Is New 90 Day High Low • Dec 21
New 90-day high: Rp540 The company is up 13% from its price of Rp478 on 23 September 2020. The Indonesian market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Finance industry, which is up 17% over the same period. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improved over the past week After last week's 16% share price gain to Rp510, the stock is trading at a trailing P/E ratio of 20.4x, up from the previous P/E ratio of 17.6x. This compares to an average P/E of 18x in the Consumer Finance industry in Indonesia. Total returns to shareholders over the past three years are 186%. Is New 90 Day High Low • Nov 23
New 90-day low: Rp392 The company is down 2.0% from its price of Rp400 on 25 August 2020. The Indonesian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Finance industry, which is up 1.0% over the same period. Valuation Update With 7 Day Price Move • Nov 09
Market pulls back on stock over the past week After last week's 20% share price decline to Rp418, the stock is trading at a trailing P/E ratio of 16.7x, down from the previous P/E ratio of 20.8x. This compares to an average P/E of 18x in the Consumer Finance industry in Indonesia. Total returns to shareholders over the past three years are 130%. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of Rp27.0b, down 12% from the prior year. Total revenue was Rp91.8b over the last 12 months, up 21% from the prior year. Is New 90 Day High Low • Oct 27
New 90-day high: Rp520 The company is up 29% from its price of Rp402 on 29 July 2020. The Indonesian market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Finance industry, which is up 2.0% over the same period. Is New 90 Day High Low • Oct 05
New 90-day high: Rp494 The company is up 80% from its price of Rp274 on 07 July 2020. The Indonesian market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Finance industry, which is up 7.0% over the same period. Announcement • Sep 17
Korea Development Bank agreed to acquire 80.65% stake in PT Tifa Finance Tbk (IDX:TIFA) from Tan Chong Credit Pte. Ltd., PT. TC Auto World Ltd, PT. T Eight Gallery, PT Dwi Satrya Utama and other third party investors for approximately IDR 450 billion. Korea Development Bank agreed to acquire 80.65% stake in PT Tifa Finance Tbk (IDX:TIFA) from Tan Chong Credit Pte. Ltd., PT. TC Auto World Ltd, PT. T Eight Gallery, PT Dwi Satrya Utama and other third party investors for approximately IDR 450 billion on July 6, 2020. As of September 8, 2020, sale and purchase agreement was signed. Under the terms of the agreement, Korea Development Bank will acquire 870.76 million shares of PT Tifa Finance, out of which 480.275 million shares which represent 44.48% stake in PT Tifa Finance, will be acquired from Tan Chong Credit Pte. Ltd., PT. TC Auto World Ltd and PT. T Eight Gallery for IDR 249.74 billion and remaining shares were acquired from PT Dwi Satrya Utama and other third party investors. Post completion, PT Tifa Finance Tbk ceased to be associate of Tan Chong International Limited (SEHK : 693), parent of Tan Chong Credit Pte. Ltd., PT. TC Auto World Ltd and PT. T Eight Gallery. Announcement • Sep 09
Korea Development Bank completed the acquisition of 80.65% stake in PT Tifa Finance Tbk (IDX:TIFA) from Tan Chong Credit Pte. Ltd., PT. TC Auto World Ltd, PT. T Eight Gallery, PT Karya Utama Cemerlang and other third party investors. Korea Development Bank agreed to acquire 80.65% stake in PT Tifa Finance Tbk (IDX:TIFA) from Tan Chong Credit Pte. Ltd., PT. TC Auto World Ltd, PT. T Eight Gallery, PT Dwi Satrya Utama and other third party investors for approximately IDR 450 billion on July 7, 2020. As of September 8, 2020, sale and purchase agreement was signed. Under the terms of the agreement, Korea Development Bank will acquire 870.76 million shares of PT Tifa Finance, out of which 480.275 million shares which represent 44.48% stake in PT Tifa Finance, will be acquired from Tan Chong Credit Pte. Ltd., PT. TC Auto World Ltd and PT. T Eight Gallery for IDR 249.74 billion and remaining shares were acquired from PT Dwi Satrya Utama and other third party investors. Post completion, PT Tifa Finance Tbk ceased to be associate of Tan Chong International Limited (SEHK : 693), parent of Tan Chong Credit Pte. Ltd., PT. TC Auto World Ltd and PT. T Eight Gallery.
Korea Development Bank completed the acquisition of 80.65% stake in PT Tifa Finance Tbk (IDX:TIFA) from Tan Chong Credit Pte. Ltd., PT. TC Auto World Ltd, PT. T Eight Gallery, PT Karya Utama Cemerlang and other third party investors on September 8, 2020. Korea Development Bank paid entire consideration on September 8, 2020. 