JAKARTA: PT Indofarma Tbk plans to implement a quasi-reorganization by the third quarter of 2011 to erase its accumulative losses amounting to IDR73 billion.In addition, the pharmaceutical company also wants to strengthen its fundamental, confirmed by Indofarma President Director Djakfaruddin Junus.Accumulative loss since 2002 reached IDR160 billion and continues to lower to IDR73 billion.The quasi-reorganization plan is expected to improve the companys fundamental and to create opportunity for the company to distribute dividend by next year.Quasi-reorganization erases losses leading to better financial statement. Consequently, the company can hold the dividend distribution by next year, which is still under review. Hopefully, it can be realized at the third quarter of 2011, he said.In addition, the management continues to organize the companys portfolio by establishing nine product clusters due to more focus on products gaining high profit margin as branded products and medicine with doctors prescription.Nevertheless, it keeps focus on developing other products, as generic drugs.Thus, we want to more focus on enhancing regular market share than tender market share in a composition of 40% and 60%. We target the same portions for both, even regular market share can grow higher, he explained.Regular market share focusing on branded products, over-the counter drug (OTC drug) has given it a high profit margin.Moreover, the measure will anticipate operating expenses as an impact of fluctuating price of raw materials.In the meantime, this year the state-controlled pharmaceutical company allocated capital expenditure at IDR36 billion.Of total capex, 15% or about IDR5.4 billion is contributed by internal cash and, the remaining will come from banks loan amounting to IDR30.6 billion. The company is still processing a loan facility from Bank Mandiri Tbk. (T01/NOM)
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