Phapros to join pharmacy holding

The State Enterprises persistently includes PT Phapros in the government pharmacy holding company jointly with PT Kimia Farma Tbk and PT Indofarma Tbk despite the rejection of the shareholders.
Now the government plans to have tender to appoint consultant for the process of pharmacy holding company establishment.
Deputy State Enterprise Minister for other business Muchayat said the policy is based on the Minister Sofyan Abdul Djalil.
"We will take some measures to include Phapros in the pharmacy holding company if it works out. Holding is necessary and has become our former program," he said last week.
Now the government through PT Rajawali Nusantara Indonesia (RNI) has 56 percent Phapros shares and public 46 percent. The minor shareholders called for the government to review the inclusion of Phapros to the new business entity.
He said the government could finalize the administration and legal aspects of the establishment of state pharmacy holding company this year.
"It is expected that September all has finished. We will seek cooperation with the Health Ministry and all relevant parties to discuss the formation of pharmacy holding," he said.
Finance director of Kimia Farma Rusdi Rosman said the Mandiri Sekuritas since 2004 has held the mandate as the consultant.
"We have long decided to re-appoint the company which will assists us. We will re-invite Mandiri Sekuritas."
The management of Kimia Farma targeted the sales this year will hit IDR3 trillion as from IDR2.7 trillion in 2008.
To support the target here, the company prepares IDR50 billion capital expenditure as from IDR35 billion in 2008.
"We prepare capital expenditure to support the information technology system used as the franchise system."