JAKARTA. PT Enseval Putera Megatrading Tbk (EPMT), a wholesale trading company for pharmaceutical products and medical devices, has signed a Shareholders Agreement (SHA) with Lian SGP Holding Pte. Ltd. (Lian SGP).

In said agreement, EPMT, through its subsidiary, PT Global Chemindo Megatrading (GCM), along with Lian SGP, commit to form a joint venture. “The signing of SHA took place on July 29, 2024,” said Sugianto, Corporate Secretary of EPMT, in the official statement.

This subsidiary is called PT Livzon Pharma Indonesia, and is known to be formed with initial investment worth IDR 650 billion. The issued and paid-up capital is split into 80:20, in which Lian SGP contributed 80%, and GCM 20%.

It is worth mentioning that Lian SGP is a subsidiary fully owned by Livzon Pharmaceutical Group Inc.

“This partnership is expected to strengthen the company’s focus in manufacturing active pharmaceutical ingredients (API) and other pharmaceutical ingredients for export market, along with considering the potential of domestic market utilisation in the future,” added Sugianto. (KR/ZH)