Jakarta – Citi Indonesia announces that it has been appointed as the main bank for Cash Management and Trade Finance solutions by Coca-Cola Amatil Indonesia (CCAI), the market leader in carbonated beverage and fruit juices in Indonesia. This mandate was signed by CEO of Citi Indonesia Batara Sianturi, President Director of CCAI Kadir Gunduz, Head of Global Subsidiaries Group of Citi Indonesia Riko Tasmaya, and Finance and Governance Director of CCAI Thomas Praming.
In Asia Pacific, Citi's Treasury and Trade Solutions (TTS) business 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 a comprehensive suite of Treasury and Trade solutions, including Cash Management, Payments, Receivables, Liquidity Management and Investment services, Working Capital solutions, Commercial Card programs, and Trade Finance 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 US$110 million of investment in a form of a 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.
Head of Global Subsidiaries Group of Citi Indonesia Riko Tasmaya said: "Citi has a long-standing global relationship with Coca-Cola Amatil in Australia and Indonesia across Treasury and Trade Solutions, Capital Markets, Risk Management and Corporate Finance. This mandate will further strengthen our close partnership, and we thank Coca-Cola Amatil for their continued trust in Citi. As their preferred bank and trusted advisor, we look forward to continue offering a unique value proposition, leveraging the power of our global network and state-of-the art digital innovation to support CCAI's growth."
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 reports in a secured manner. "Our comprehensive and market-leading solutions will enable CCAI to achieve higher operational efficiency, improve visibility and control, accelerate transaction processes and minimize transactional risks," he added.
Citi also implemented a Supplier Finance Program for CCAI, enabling CCAI to improve its Day Payable Outstanding and enhance its 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.
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. The TTS 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 Citi has been established for a long time, providing services such as Cash Management, Treasury and Trade Solutions, FX Solutions, 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 Citi Indonesia."
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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Coca-Cola Amatil Indonesia (CCAI)
Coca-Cola Amatil Indonesia (CCAI) is a leading beverage sales, manufacturing, and distribution company that was established in January 1992 . CCAI is a subsidiary of Coca-Cola Amatil (CCA), one of the largest Coca-Cola bottlers in the world, which is headquartered in Sydney, Australia, and publicly listed on the Australian Securities Exchange. CCAI operates eight manufacturing facilities in Sumatra, Java and Bali, employs a direct workforce of more than 10,000 people, and distributes million cases of refreshing drinks to more than 830,000 customers across the nation. Governed by four integrated sustainability pillars: People, Wellbeing, Environment, and Community—CCAI has been running various CSR initiatives such as Coca-Cola Forest, Coke Kicks, education assistance, blood donor, and City Clean-up, which all grow alongside the business across Indonesia.
For more information visit www.coca-colaamatil.co.id.
For more information, please contact:
Elvera N. Makki
Country Head of Corporate Affairs
Citi Indonesia (Citibank N.A., Indonesia)
Head of Corporate Communications
Coca-Cola Amatil Indonesia