JAKARTA. PT Pyridam Farma Tbk (PYFA), a pharmaceutical company under Rejuve Global Investment, hass channelled out a credit facilty of IDR 27 billion to one of its subsidiaries, PT Holi Pharma.
Nadia Miranty Verdiana, Corporate Secretary of PYFA, claimed that the said credit facility will be utilised by Holi Pharma to upscale its business. “It includes purchasing operational assets,” she specified in the information disclosure in Indonesia Stock Exchange (IDX).
For the record, the said credit facility is considered an affiliate transaction, as stated in the Financial Services Authority Regulation (POJK) 42/2020, because Holi Pharma is a subsidiary ot PYFA. However, it is not a material transaction as the facility does not reach 25% of PYFA’s total equity.
According to idnfinancials.com data, Holi Pharma is a business recently acquired by PYFA in August 2021. The shares acquisition of Holi Pharma by PYFA was worth IDR 108.56 billion.
Holu Pharma is a company engaged in drugs and health supplements manufacture. The company has been running since 1968, previously named PT Ndaholi. (KR/ZH)