Citi Indonesia to Provide Finance Services

Citi Indonesia announces the provision of Cash Management and Trade Finance solutions to Coca-Cola Amatil Indonesia (CCAI), Indonesia’s leading beverage sales, manufacturing and distribution company.

Citi Indonesia announces the provision of Cash Management and Trade Finance solutions to Coca-Cola Amatil Indonesia (CCAI), Indonesia’s leading beverage sales, manufacturing and distribution company. This cooperation agreement was signed by Citi Indonesia’s CEO Batara Sianturi and CCAI’s President Director Kadir Gunduz, Managing Director and Head of Global Subsidiaries Group Citi Indonesia Riko Tasmaya, and CCAI’s Finance and Governance Director Thomas Praming.

In Asia Pacific, Citi Treasury and Trade Solutions (TTS) provides integrated cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. With a full range of digital and mobile enabled platforms, tools and analytics, TTS continues to lead the way in delivering innovative and tailored solutions to Citi’s clients. It offers the industry’s most comprehensive suite of treasury and trade solutions including cash management, payments, receivables, liquidity management and investment services, working capital solutions, commercial card programs, trade finance and services.

President Director of Coca-Cola Amatil Indonesia Kadir Gunduz stated that working with the right partners is critical for CCAI’s transformation journey. “Our 10,000 employees are serving more than 830,000 customers and growing. It is important that we work with partners who understand the scale of our business and our future ambition.” Throughout 2017 alone, CCAI announced more than USD 110 million of investment in a form of Mega Distribution Centre and several new production lines. “We know that Citi brings decades of experience, innovation, and cutting edge technology which—we believe—will add value to our plan to grow,” added Kadir.

Managing Director and Head of Global Subsidiaries Group Citi Indonesia Riko Tasmaya added, “Citi has a long-standing global relationship with Coca-Cola Amatil in Australia and Indonesia across Transaction Banking, Capital Markets, Risk Management and Corporate Finance. This collaboration emphasizes Citi as the preferred bank and trusted advisor in providing unique value proposition, leveraging the Power of Global Network and state-of-the art digital innovation to support CCAI’s growth. We look forward to strengthen our relationship as a result of this successful mandate.”

Director and Head of Treasury and Trade Solutions of Citi Indonesia Vincent C. Soegianto elaborated that Citi's Cash Management solution has the ability to automate CCAI’s payment processes through host-to-host connectivity, provide seamless reconciliation process, and present digitized report in a secured manner. Hence, accelerating transaction processes and minimizes transactional risks.

Citi also implemented Supplier Finance Program for CCAI, enabling CCAI to improve their Day Payable Outstanding and enhance their cash conversion cycle by extending payment terms. Simultaneously, it allows CCAI’s suppliers to finance their receivables at a more attractive rate than they would otherwise be able to achieve. This delivers a win-win outcome for both CCAI and suppliers.

Both Citi’s cash management and trade finance solutions are supported by efficient digital solutions that drive greater automation and autonomy in CCAI’s treasury operations, allowing CCAI to have unprecedented visibility over their treasury flows. Citi’s Treasury and Trade Solutions business is committed to continuously harness innovation and digitization to help clients better adapt their operating models to shifting markets and business demands.

CCAI’s Finance and Governance Director Thomas Praming, said “In achieving business efficiency and effectiveness, we need a trusted partner to handle our cash management. Our relationship with Citibank has been established for a long time, providing services such as: Cash Management, Treasury and Service Solution, FX Solution, and providing corporate credit cards for employees. Through this continuous collaboration, we hope that the new partnership will bring sustainable business growth for both CCAI and Citibank Indonesia.”