JAKARTA - PT Phapros Tbk (PEHA) signed a contract worth Rp 1 trillion with PT Kimia Farma Trading & Distribution (KFTD), a subsidiary of PT Kimia Farma Tbk (KAEF).
Barokah Sri Utami, President Director of PEHA, said the agreement appointed KFTD as a distributor of PEHA's products starting June 2019. In addition, KFTD also became the sole distributor of PEHA's products starting from the beginning of January 2020.
"This transaction is a material transaction, because the value exceeding 50% of PEHA’s equity," Utami said through information disclosure on the Indonesia Stock Exchange (IDX) on Monday (3/5).
Utami said the agreement would increase the company's cash flow. "With the addition of distributors, we expect that the company's target can be achieved," she explained. (KR)