JAKARTA – The proposal of PT Indofarma (Persero) Tbk (INAF) to request for a shareholder loan worth IDR 157 billion had been approved by independent shareholders during today’s (31/5) Annual General Shareholders Meeting.

Ariesta Kurniawan, Director of Finance, Risk Management, and HR of Indofarma, claimed that the loan will be used to pay off obligations to past employees, as well as tax, obligations to employees, debt principal instalment, and obligations to creditors.

In said meeting, 72.21% or 432.82 million shares owned by independent shareholders agreed upon the shareholder loan facility from Bio Farma. Another 100 disagreed, while another 1,500 shares declared abstain regarding said proposal.

The approval is imperative for INAF’s restructuring agenda, especially to ensure sufficient enough cash to enhance production. “Some part of it will be used to pay off obligations to third parties in order to make way for health-and-herbal-related goods supply to boost sales,” Kurniawan added.

The facility worth IDR 157 billion will increase the balance of outstanding shareholder loan from IDR 56.5 billion in 2022 to IDR 184.8 billion in 2023. (LK/ZH)