Bio Farma Supports Investment Settlement At Kimia Farma

Photo: Doc. Antara

JAKARTA - The holding company of BUMN Farmasi, PT Bio Farma (Persero) Bio Farma Holding, supports the settlement of investments at Kimia Farma Group to strengthen the health ecosystem in Indonesia.President Director of PT Bio Farma (Persero) Honesti Basyir in a written statement Tuesday, March 7, said that his party appreciated the completion of investment transactions of Indonesia Investment Authority (INA) and Silk Road Fund (SRF) at PT Kimia Farma Tbk (KAEF) and PT Kimia Farma Apotek (KFA). Through the completion of this investment transaction, INA and SRF officially became KAEF and KFA strategic investors by taking part in the issuance of the KAEF Wajib Conversion (OWK) Obligation, and taking part 40 percent of the shares in its subsidiary, KFA. KFA is a KAEF business entity with a pharmacy retail business portfolio with a distribution of more than 1,170 service centers throughout Indonesia. At the B20 Summit November 2022 event, President Director of PT Bio Farma (Persero), Honesti Basyir; President Director of KAEF, David Utama; Director of KFA, Nurtjahjo Walujo Wibowo and Ridha Wirakusumah, as Chairwoman of the Board of Directors of SRF, Zhu Jun; has signed a Conditional Share Purchase Agreement and other transaction documents.

This corporate action shows the spirit of Pharmaceutical Holding which is increasingly focused on supporting the development of the health ecosystem in Indonesia. This achievement is in line with the spirit and direction of the Minister of SOEs so that Indonesia becomes a sovereign country in the health sector, "said Honesti, as reported by Antara. According to Honesti, this agreement is a further form of broader partnership, and long-term cooperation between SRF and INA. Previously, in June 2022, INA and SRF signed an Investment Framework Agreement (Investment Framework Agreement) to facilitate their investment cooperation in Indonesia, in order to increase economic cooperation between the two countries. Ridha Wirakusumah, as Chair of the Board of Directors of INA, said that health services in Indonesia offer attractive opportunities for investors, given the large size of the market and intermediate class that are growing rapidly in Indonesia.

In fact, with this investment, INA will accelerate access to health services throughout Indonesia, optimize retail and distribution networks as well as accelerate the digitization of health care systems to reach a wider segment of patients and customers. Chairwoman of The Board of Directors SRF, Zhu Jun added that the completion of this investment transaction marks the start of a new stage of cooperation between SRF, INA, KAEF, and KFA. "In working with our partners, SRF will provide effective resources to support KAEF and KFA, so that both can sharpen their advantages, and capture opportunities in Indonesia's fast promising and growing health industry," he said.

"We hope this investment will be the flagship project of cooperation between China-Indonesia under the Belt and Road Initiative," said Zhu Jun.