Kimia Farma Gets Funds Injection From INA And Silk Road Fund

JAKARTA - PT Kimia Farma (Persero) Tbk (KAEF) and PT Kimia Farma Apotek (KFA) received investments from the Indonesia Investment Authority (INA) and the Silk Road Fund (SRF). This is the first investment of both parties in the Indonesian health industry.

"Through the settlement of these investment transactions, INA and SRF officially became KAEF and KFA strategic investors by taking part in the issuance of KAEF's Mandatory Convertible Bonds (OWK), and taking a 40 percent stake in its subsidiary, KFA," said Chairman of the Board of Directors. INA Ridha Wirakusumah quoted between, Friday, February 24.

Through the KFA service portfolio which includes more than 1,200 pharmacies and 450 clinics and laboratories, he said INA is ready to support KAEF and KFA's growth ambitions to become the number one health partner for the Indonesian people.

"INA aims to accelerate access to health services throughout Indonesia, optimize retail networks and distribution channels, and accelerate the digitization of the health care system to achieve a wider segment of patients and customers," said Ridha.

He continued this agreement in line with the goal of achieving the world-class level of service and health quality, where the development of Universal Health Coverage systems has advanced almost all aspects of the value chain of the healthcare industry in Indonesia.

On the same occasion, Chairwoman of The Board of Directors of SRF Zhu Jun said that his party will provide effective resources to support KAEF and KFA, so that both can sharpen their advantages, and seize opportunities in the Indonesian health industry.

Meanwhile, President Director of PT Bio Farma Honesti Basyir said this corporate action shows the spirit of Bio Farma Group which focuses on supporting the development of the health ecosystem in Indonesia.

Meanwhile, KAEF President Director David Utama said KAEF's rights issue and KFA's efforts to increase the value (unlock value) were strategic steps to support the company's performance, especially for the development of the health industry.