VIVAnews - It is reported that PT Enseval Putra Megatrading Tbk. (EMPT) will merge with its holding company PT Kalbe Farma Tbk. in 2009.
A anonymous VIVAnews source said the plan will be taken in order to compete with the state-owned pharmaceutical holding company which will be established by the government.
"It is reported that the plan to set up a holding company for Enseval and Kalbe will be brought before company's general meeting of shareholders in the near future," said the source in Jakarta on Wednesday, March 18.
President Director of Enseval Putra Megatrading, Vidjongtius, said as confirmed that the company has not yet been informed by Kalbe Farma concerning the merger plan.
"We have yet to hear anything about the [merger] plan," he told VIVAnews on Thursday, March 19.
Vidjong, who is also Kalbe Farma Director and Corporate Secretary, said that in the mean time, the establishment of a holding company remains unimportant because both companies are well-improved
"We even continue expand in domestic and overseas market," he explained.
Per 31 January 2009, the EPMT-coded share was owned by HSBC-Fund Service Clients A/C 500 with 10.93 percent, PT Kalbe Farma with 58.19 percent, and Skandinaviska Enskilda Banken with 5.5 percent. The remaining shares are owned by the public.
On Wednesday trade, March 18, EPMT was closed stronger by Rp 5 (1.49 percent) at Rp 340.BQ-coded broker PT Dampac Securities' was listed as one of the brokers possessing most of Enseval shares.
A capital market observer Ukie Jaya Mahendra said if either merger or holding company establishment plans is taken, there will be a strong synergy, and it will compete with the state-owned pharmaceutical holding company involving PT Kimia Farma Tbk. and PT Indofarma Tbk.
"It will definitely bring positive sentiment to both shares, especially for Enseval shares," he said.
On the third quarter of 2008, the company recorded net sales valued to Rp 5.37 trillion (US$459.8 million), 14,58 percent higher compared to the same period in 2007 with RP 4.69 trillion (US$401.7 million).
Enseval's net profit per September 2008 rose by 13.89 percent to Rp 189.72 billion (US$16.2 million) compared to last year's Rp 166.58 billion (US$14.2 million).
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Translated by: Ariyantri E. Tarman
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