China’s Silk Road Fund Signs Deal to Invest in Two Indonesian Drugmakers

Representatives from China’s state-backed Silk Road Fund and the Indonesia Investment Authority attend the signing ceremony in Bali for a joint investment in two Indonesian-owned pharmaceutical companies to help boost health care services in the Southeast Asian country on Sunday. Photo courtesy of Kimia Farma.

China’s state-backed Silk Road Fund (SRF) has signed a deal to invest in two Indonesian state-owned pharmaceutical companies to help boost health care services in the Southeast Asian country.

The SRF and the Indonesia Investment Authority (INA), the country’s sovereign wealth fund, have agreed to jointly take a 40% stake in a PT Kimia Farma Tbk. (KAEF) subsidiary, PT Kimia Farma Apotek, for around 1.86 trillion rupiah ($120 million), according to a press release by KAEF on Sunday. The proceeds will be used to fund business expansion, increase working capital and improve operational efficiency of the subsidiary, it added.

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