Cimory, Milk And Yoghurt Producer Owned By Conglomerate Bambang Sutantio Promises Not To Increase Product Prices, CFO: We Directors Think Long Term

JAKARTA - Chief Financial Officer (CFO) of PT Cisarua Mountain Dairy Tbk (CMRY), Bharat Shah Joshi admitted that one of the keys to the resilience of the Cimory yogurt producer is good relations with suppliers, even though the current global economic situation has not recovered as he expected. .

However, Bharat along with the directors of other issuers are determined not to increase product prices, even though since the war between Russia and Ukraine, the prices of raw materials have begun to be felt.

"We, the directors, think long term. If we increase the price of this product, it is a short term solution," said Bharat, during an event in the "Emiten Talk" in Jakarta, Thursday, August 11.

They prefer to think about the long-term impact in addition to the financial condition which is still quite helped by the condition of financial cash which is still quite durable. In addition, the company owned by conglomerate Bambang Sutantio is also optimistic, even though the milk consumption rate of Indonesian people is still far below Malaysia and Singapore.

Based on BPS records, for 2020, the total consumption of our people is still at 16.27 kg per capita per year. While Malaysia, 36.20 per capita per year and Singapore 50 kg per capita per year.

Bharat also expressed his optimism in facing the challenges ahead given that the skills and competencies of his company's human resources are not inferior to those of multinational companies.

"In the past, maybe our human resources were far inferior to multinationals. But now we see they have more adequate skills and are able to think strategically quickly. This we prove we are able to survive in the midst of difficult situations but they are able to quickly make decisions when Multi-national companies are still rethinking," he said.