Earlier this year we reported that the State pharmaceutical firm PT Indofarma Tbk (INAF) is having a rough time. In addition to a series of losses over the years, the company also faces legal issues. By the time we wrote the report, Indofarma and its subsidiary PT Indofarma Global Medika (PT IGM) had faced three lawsuits demanding the company to restructure its debts (PKPU). However, the situation got worse in an instant as more lawsuits were filed and the company’s problems were finally revealed to the public, including that the officials of the company deliberately used the employees identity to apply for online personal loans which caused a debt of over Rp1 billion. This week, the Prosecutors’ Office announced their investigation.To subscribe please click here
