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PT Millennium Pharmacon International Tbk. Gedung Bank Panin Pusat Lt.9. Jl. Jend. Sudirman - Senayan. Jakarta - 10270

Millennium Pharmacon spends IDR1.5 billion

Selasa, 30/11/2010 19:02:25 WIB
By: Ratna Ariyanti

JAKARTA: The spending realization of Indonesia’s pharmaceutical and medical devices distributor, PT Millennium Pharmacon International only reached 15% or IDR1.5 billion out of the allocated capital expenditure, IDR10 billion.

President Director of Millennium Pharmacon International, Andrew Loke said that his company still undertakes particular cost control as the company’s strategy in anticipating the termination of distribution cooperation with PT Merck on December last year. Such termination relatively resulted in a weaker performance. Merck apparently gave 26% contribution over Millennium’s total sale.

“The capital expenditure this year shall be allocated to infrastructure and information technology sectors. The company also seeks to conduct cost control as it keeps expanding its business and examining the plan to add branch offices,” he said today after a public presentation.

The Indonesia-based company recorded 21.13% drop over its selling value to IDR622.57 billion during the period of January-September 2010 compared to the same period last year, reaching IDR789.41 billion.

In the meantime, the company’s operating income during 9M/2010 plunged by 63.95% to IDR7.29 billion compared to the same period last year, IDR20.22 billion. Millennium booked IDR404.92 million net loss in January-September 2010 compared to its net income of IDR9.28 billion.

Andrew said that the company somehow still allocated the capital expenditure for various kinds of needs, including the development of information technology and infrastructure next year, amounting IDR8 billion. The funds shall be derived from internal source and bank loan. (t02/wiw)

Source: www.bisnis-english.com

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