The country’s largest pharmaceutical company Kalbe Farma (KLBF) is on track to achieve the company’s business targets this year despite the decline in the rupiah against the US dollar, which has caused a sharp increase in operating costs.Kalbe Farma finance director and corporate secretary Vidjongtius said in Jakarta on Friday that the sharp depreciation of the Indonesian currency against the greenback had significantly cut profit margins because nearly 100 percent of the company’s raw materials were imported.He said the company had initially used an exchange rate assumption of Rp 11,900 per dollar, because it predicted the Indonesian currency would remain …read more
Source: The Jakarta Post
