PT Phapros Tbk to Give Out 70% of its Net Income for Dividends

Jakarta, 25th of June 2020 - PT Phapros Tbk, subsidiary of PT Kimia Farma Tbk, held a General Meeting of Shareholders for 2019 Fiscal Year at its office located in Mega Kuningan District, South Jakarta.

In this year's General Meeting of Shareholders, management gave an explanation to the company's performance achievements in 2019. In 2019, Phapros succeeded in increasing its sales performance by eight percent or Rp 1.1 trillion.

The Director of Finance, Heru Marsono, said that the contribution of an increase in sales of Phapros in 2019, was dominated by the generic drug (OGB) segment, which rose by 8.5% from the previous year at Rp 537.48 billion. “Followed by prescription drug (ethical) products which rose by 12% or Rp 289.88 billion, and over the counter (OTC) drug products which grew by 17% or Rp 212.57 billion," he further added.

Meanwhile, total assets owned by Phapros last year amounted to Rp 2.1 trillion, growing from the previous year of Rp 1.87 trillion. The total liabilities also rose 18.51%, from Rp 1.08 trillion to Rp 1.28 trillion. Phapros' equity reached Rp 821.61 billion, which grew by 4.03% from Rp 789.8 billion.

It was agreed that the distribution of cash dividends amounting to 70% of net profit or equivalent to Rp. 71.4 billion (Rp. 85.03 / share) to shareholders. In addition, at this year's GMS, the shareholders also agreed to dismiss respectfully with the highest honor, Prof. Dr. Fasli Jalal as Independent Commissioner and Barokah Sri Utami as the President Director, and appointed Brigjen TNI (Ret) dr. Jajang Edi Priyatno as Independent Commissioner and Hadi Kardoko as President Director. So that the composition of the Company's management becomes as follows:

Board of Commissioners

•             Verdi Budidarmo (President Commissioner)

•             Masrizal Achmad Syarief (Commissioner)

•             Brigjen TNI (Ret) dr. Jajang Edi Priyatno (Independent Commissioner)

•             Zainal Abidin (Independent Commissioner)

Board of Directors:

•             Hadi Kardoko (President Director)

•             Heru Marsono (Director of Finance)

•             Chairani Harahap (Director of Marketing)

•             Syamsul Huda (Director of Production)

To continue improving its performance, Phapros has prepared various strategic plans. One of them is by increasing production of 1 million boxes of Becefort, the only product in Indonesia that contains a combination of high doses of vitamin C and vitamin E, following an increase in demand amid the corona virus pandemic or Covid-19. Phapros also plans to launch biological products for anti-aging based on stem-cell metabolic secretions, which is the result of downstream research alongside Airlangga University, Surabaya.

"This is one of Phapros' supports for downstream research. In developing this product, Phapros has also received funding from Ministry of Research and Technology in the amount of Rp 20.2 billion since 2017. So, we hope that the second semester of this year, the product is ready to be produced, "said the Director of Production of PT Phapros Tbk.