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"Sales Decline, Staff Salaries up to Indofarma Commissioners Also Delayed"

Sales Decline, Salaries of Staff and Commissioners of Indofarma Also Delayed indofarma" Shutterstock">

"Dream - PT Indofarma Tbk Management (INAF) revealed the delayed monthly salaries of employees to the Indonesia Stock Exchange (BEI)."

In the information disclosure to the Indonesia Stock Exchange (BEI), the President Director of PT Indofarma Tbk, Yeliandriani, conveyed that the payment status of employee salaries for January-May 2024 cannot be fully disbursed.

Sales Decline, Salaries of Staff and Commissioners of Indofarma Also Delayed

However, Indofarma employees' salaries are still paid according to the employee levelization policy. According to Liputan6.com, the delayed salaries for staff level (BoD-4) amount to 10 percent from February to May 2024.

Sales Decline, Salaries of Staff and Commissioners of Indofarma Also Delayed rupiah currency Shutterstock">

Then the assistant manager level (BoD-3) will increase by 30 percent in February-May 2024, followed by the manager level (BoD-2) increasing by 40 percent in February-May 2024.

Meanwhile, the general manager (BoD-1) is 50 percent from January-May 2024. The board of directors, commissioners, and board members are also 50 percent from January-May 2024.

Sales Decline, Salaries of Staff and Commissioners of Indofarma Also Delayed

Apart from that, Yeliandriani stated that the company is currently only focused on production to fulfill government contracts. This is because the operational condition, especially the production of working capital medicine, is limited.

Sales Decline, Salaries of Staff and Commissioners of Indofarma Also Delayed

Along with the suboptimal operational performance due to very limited working capital, the Company recorded a net loss. PT Indofarma Tbk generated a net sales of IDR 445.70 billion until September 2023. The company's sales decreased by 50.7 percent compared to the same period of the previous year, which amounted to IDR 904.89 billion.

The company recorded a loss that can be attributed to the parent entity's owners, increasing by 4.69 percent to Rp 191.69 billion until the third quarter of 2023 from the same period last year, which was Rp 183.11 billion.

Sales Decline, Salaries of Staff and Commissioners of Indofarma Also Delayed

"Very limited working capital results in suboptimal production levels in the Company and insufficient supply of products by the parent company in the subsidiary."

write Yeliandriani.

               
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