Fintech startup Cashlez takes off on bourse debut

first_imgPT Cashlez Worldwide Indonesia, the country’s first fintech payment startup to be publicly listed, proved a hit on its stock exchange debut on Monday, with the company seeking funds for expansion.The price of Cashlez’s shares, traded on the Indonesia Stock Exchange (IDX) under the code CASH, increased from Rp 350 (US$0.23), its initial public offering (IPO) price, to Rp 384 within four minutes after trading opened.The company will use more than half the Rp 87.5 billion raised from its IPO, conducted on April 27, to acquire PT Softorb Technology Indonesia, an IT solutions company, as part of its expansion strategy. The remaining funds will be used as the company’s working capital.Cashlez president director Tee Teddy Setiawan said during the virtual ceremony that the company, which offers a payment gateway to merchants, would remain focused on developing innovative products. “We have always focused on becoming a company that develops innovative, secure and easy-to-use products for our merchants,” he said on Monday. For its expansion, Cashlez plans to increase the number of merchants using its platform to 10,000 from 7,000 currently, many of which are small and medium enterprises (SMEs).“Cashlez is helping SMEs digitize amid the COVID-19 pandemic,” the company wrote in its press statement on Monday. The company has also set a goal to achieve a threefold increase its gross transaction value (GTV) this year, from 2019’s Rp 3.81 billion. Last year’s figure was also nearly triple its GTV in 2018.E-money transactions in the Indonesian retail market skyrocketed 173 percent year-on-year in January, according to a Bank Indonesia (BI) report.The positive performance of the startup’s listing contrasted with the gloomy market, with the Jakarta Composite Index (JCI), the IDX’s main gauge, falling into negative territory, plunging 2.73 percent in the morning and remaining in the red thereafter.The index had lost 24.94 percent of its value as of Thursday as a result of the market panic caused by COVID-19.The company became the 27th company to be listed on the IDX this year and the ninth company to do so with a virtual officiating ceremony, after the Jakarta administration extended its large-scale social restrictions to limit the spread of the SARS-CoV-2 virus. “As the first fintech payment startup to be listed on the IDX and an [alumni] of the IDX incubator, we really hope that PT Cashlez Worldwide Indonesia Tbk will become a reference for other startups that are not yet listed on the bourse [to enter the capital market],” IDX assessment director I Gede Nyoman Yetna said during the virtual ceremonyHe added that he expected the company to grow and improve its performance following its entry to the bourse.Topics :last_img read more

Thousands of Swedes got false positive COVID-19 result due to test kit fault

first_imgThe test kit has been widely exported to other countries, she added, but could not give further details.BGI Genomics, two of whose subsidiaries are on a US economic blacklist of companies implicated in human rights violations regarding China’s treatment of Uighurs, could not immediately be reached for comment.It received emergency use authorization from US authorities for its coronavirus testing kits in March and got an Emergency Use Listing from the World Health Organization in May.The Swedish labs that evaluate the tests have adjusted their methodology. The agency could not say how many tests had been done using the kit but only a minority of cases appeared to be involved, when the virus is at very low levels.Sweden said the false results had only marginally affected statistics on infections.On Tuesday, the agency reported that since the first case of COVID-19 was identified, there had been 86,891 confirmed infections in Sweden and 5,814 deaths.Cases, intensive care admissions and deaths have been falling in recent weeks. The agency will present its strategy for easing some remaining restrictions on public events, such as football matches, next Tuesday.Topics : About 3,700 people in Sweden were told in error that they had the coronavirus due to a fault in a COVID-19 testing kit from China, the Public Health Agency said on Tuesday.The kit from BGI Genomics could not distinguish between very low levels of the virus and a negative result, the agency said.”The supplier must adjust the performance that is required for this test to be used,” Karin Tegmark Wisell, the head of its microbiology department, said.last_img read more

Mr. Jerry Smith

first_img Jerry Smith, age 71, of Vevay, Indiana, entered this life on June 1, 1948 in Madison, Indiana. He was the loving son of the late, Robert Pierce “Bob” and Mary Frances (Littrell) Smith. He was raised in Vevay, Indiana and was a 1966 graduate of Vevay High School. Jerry was inducted into the United States Army on May 7, 1968, in Louisville, Kentucky. He earned the National Defense Service Medal, Vietnam Service Medal with 4 Campaign Stars, Vietnam Campaign Medal, 2 Overseas Service Bars, Army Commendation Medal, Sharpshooter Badge with Rifle Bar (M-14) and Marksman Badge (M-16). Jerry was honorably discharged with the rank of Sergeant on May 6, 1970 at Fort Campbell, Kentucky. Jerry was united in marriage on November 1, 1969 at Fredonia Baptist Church on Tapp’s Ridge to Darlena “Kay” Lock. This happy union was blessed with two sons, Keith and Kevin. Jerry and Kay shared nearly 48 years of marriage together until she passed away on April 23, 2017. He was later united in marriage to Gloria (Johns) Artus at Fredonia Baptist Church on September 30, 2018. Jerry farmed for several years in Switzerland County, Indiana. He was employed as a stocker for Madison Tool & Die in Madison, Indiana for 8 years. He also co-owned and co-operated Bakes Insurance in Vevay, Indiana with his father, Bob for 25 years. Jerry was later employed as an insurance agent for Cole Bakes Insurance in Vevay, Indiana, retiring after 5 years of service. He was a member of the Fredonia Baptist Church and the American Legion Post #185 and the Vevay VFW Post #5396. Jerry had resided in the Madison community 2006 – 2017 and later moved back to the Vevay community in 2017. Jerry enjoyed bowling and will be deeply missed by his loving family and friends. Jerry passed away at 10:47 p.m., Thursday, August 22, 2019, at the University of Louisville Hospital in Louisville, Kentucky.Jerry will be missed by his wife, Gloria (Johns) Artus Smith of Vevay, IN; his sons, Keith Smith and his wife: Rebecca of Vevay, IN and Kevin Smith and his wife: Valerie of Vevay, IN; his grandchildren, Huxley, Sam and Ben Smith; his step-grandchildren, Zach, Kaylen and Kinsey and his brother-in-law, Terry Lock of Vevay, IN.He was preceded in death by his parents, Robert Pierce “Bob” Smith, died November 24, 1997 and Mary Frances (Littrell) Smith, died November 9, 1992; his 1st wife, Darlena “Kay” (Lock) Smith, died April 23, 2017; his step-mother, Doris Nell (Kemker) Smith, died November 7, 2001; his twin brother, Larry Smith, died September 3, 1951 and his sister, Emma Frances Smith, died June 14, 1944.Funeral services will be conducted Wednesday, August 28, 2019, at 11:00 a.m., by Rev. Wayne Daugherty, at the Haskell & Morrison Funeral Home, 208 Ferry Street Vevay, Indiana 47043.Interment and full military rites will be conducted by the Honor Guard of the Vevay American Legion Post #185 and the Vevay VFW Post #5396 in the Vevay Cemetery, Vevay, Indiana.Friends may call 5:00 p.m. – 8:00 p.m., Tuesday, August 27, 2019, at the Haskell & Morrison Funeral Home, 208 Ferry Street, Vevay, Indiana 47043.Memorial contributions may be made to the Fredonia Baptist Church. Cards are available at the funeral home or online at www.haskellandmorrison.comlast_img read more