Pahala Mansury: Silk Road Fund and INA to Invest in Kimia Farma and Kimia Farma Apotek
Posted on 11/13/2022
China’s Silk Road Fund (SRF) and the Indonesia Investment Authority will become investors in the listed Indonesian pharmaceutical producer and distributor PT Kimia Farma Tbk and its unit PT Kimia Farma Apotek, Indonesia’s deputy state-owned enterprises minister, Pahala Mansury (Pahala Nugraha Mansury), told a news conference, without providing the amount of investment.
The total investment in this cooperation is estimated at 1.86 trillion IDR for 40% ownership in Kimia Farma Apotek, depending on a number of factors. This investment will be used to fund Kimia Farma Apotek’s strategic business expansion, working capital needs, and initiatives to further improve operational efficiency.
The Silk Road Fund views this investment as cooperation between China and Indonesia under the Belt and Road Initiative and is an attractive investment opportunity.
PT Bio Farma (Persero) is an Indonesian state-owned enterprise based in Bandung, West Java and the only local vaccine manufacturer in Indonesia. Bio Farma is the parent company of Kimia Farma.
In 1957, Dutch-owned pharmaceutical firms were nationalized by the Government of the Republic of Indonesia. On July 4, 2002, PT. Kimia Farma Tbk. officially listed on the Jakarta Stock Exchange (JSX) and the Surabaya Stock Exchange (BES) as a public company and changed its name to PT. Kimia Farma (Persero), Tbk.