JAKARTA – PT Topindo Solusi Komunika Tbk (TOSK) and PT Mitra Pedagang Indonesia Tbk (MPIX) officially entered the Indonesia Stock Exchange (IDX) board today (7/2). Both have the same business focus, which is the provider of integrated solution platform for small business owners or MSMEs.

Both TOSK and MPIX highlight its service as an aggregator of digital products and various payment methods, including QRIS, for MSME players. Not only that, MPIC and TOSK are also able to channel People’s Credit (lit. Kredit Usaha Rakyat/KUR).

In addition, both also offer wholesale distribution service for FMCG (fast-moving consumer goods) for retailer.

“There are several of our retail partners that have been using out service, QRIS, and their revenue soars,” said Abdul Muidz, President Director of Mitra Pedagang Indonesia, today (7/2), during the Press Conference of MPIX Stock Listing Ceremony in IDX.

According to Mudiz, MSME’s potentials are impressive. “Transactions using QRIS in those small retailers could reach up to 15 million transactions in a day,” he added.

Although both share the same business model, B2C model, they differ in terms of geographical operating network. TOSK is formed in Singkawang, West Kalimantan, and have established several distribution hubs in the region. Meanwhile, MPIX, Madura-based company, claims to have gain popularity among small retailers and street hawkers in Jakarta area.

In the future, TOSK plans to expand to outside Kalimantan, especially in regard to its digital services. However, FMCG service of TOSK will be focused for expansion in Kalimantan, before branching out to outside Java.

Seiko Manito, CEO of Topindo Solusi Komunika, believes that FMCG expansion in Java will cost a wealth. “The biggest challenge in Java is, bleeding out the money,” he added. Manito reaffirms that the burning-money strategy adopted by many start-ups in Jakarta will not be an option for TOSK.

“We may gain more user, but there will be money to burn for that. Why should I pursue profit in Java, while Kalimantan still has a lot to be taken on?” Manito added.

However, TOSK is projected to gradually branch out to Sulawesi and Sumatra. “Because, in terms of market characteristic, they are similar to Kalimantan,” Manito added.

Meanwhile, MPIX is planning an expansion with a different method, which is partnering with several renowned companies, such as Bank Ina (PT Bank Ina Perdana Tbk/BINA) and its affiliates.

“We are partnering with many companies from Salim Group. For example, we are currently reviewing a partnership with Indomarco (Indomaret),” said Muidz further.

Until the end of today’s (7/2) session in IDX, MPIX has touched the upper auto rejection level, up 25% to IDR 334 per share. Meanwhile, TOSK also recorded closing price of IDR 130, 4% higher than its IPO price. (ZH)