first_imgPT Kalbe Farma is bracing for the impact of COVID-19 on its business in the second quarter and hoping to cushion the blow through cashflow management and by making better use of digital channels.Kalbe Farma president director Vidjongtius said that, while the COVID-19 impact was not apparent in the first quarter, it would be more significant in the second quarter with an expected decline in the number of patient visits and limited consumer mobility.“We will take greater advantage of digital platforms as an alternative for our stay-at-home consumers,” the president director said on Monday. Meanwhile, Kalbe Farma has decided to slash dividends on last year’s profit to build up the retained capital to wither the COVID-19 impact.Kalbe Farma will only pay out Rp 937.5 billion (US$62.97 million) in dividends to its shareholders, lower than the initial projection of Rp 1.13 trillion to Rp 1.26 trillion.The dividends are around 37 percent of the company’s 2019 profit of Rp 2.5 trillion, lower than Kalbe Farma’s average dividend ratio of 45 to 50 percent over the years.“We are taking the initiative to increase the company’s cash flow reserve for the year 2020, so that we can weather the impacts of COVID-19 well,” Vidjongtius said.Furthermore, to boost its business, the company also plans to increase the production of a number of highly sought items during the pandemic, including vitamin supplements, jamu (traditional herbal medicine) and health equipment such as masks and protective coveralls.The company booked around 8 percent year-on-year (yoy) growth in net sales at Rp 5.8 trillion in the first quarter, while its net profit grew by 12.47 percent yoy to Rp 669.27 billion in the first three months.In the wake of the pandemic-related disruption of pharmaceutical supply chains, the company also plans to get more involved in the provision of raw materials for the industry as the country seeks to reduce its dependency on imported products.The company is said to collaborate with its longtime partner from South Korea, Genexine Inc., to develop raw materials for biotechnology-based medicines with a future potential of those products turning into export goods, according to Vidjongtius.While refraining from stating company targets for 2020, Vidjongtius expressed optimism about the growth of the pharmaceutical industry as “public awareness of health has increased significantly, at every level, in every region” due to the pandemic.“We have lowered our forecast on KLBF’s [Kalbe Farma] operating costs as we believe KLBF will keep increasing its efficiency at the operating level to support its net profit,” Mirae Asset Sekuritas Indonesia analyst Mimi Halimin wrote in a research note.The note also highlighted that the company’s net profit was forecast at Rp 2.7 trillion this year, a 5.7 percent increase yoy, in line with the management’s target of 5 to 6 percent growth. The company, which is traded on the Indonesia Stock Exchange (IDX) under the stock symbol KLBF, unchanged on Monday. The benchmark Jakarta Composite Index (JCI) climbed up 0.08 percent. Topics : The publicly listed company has several digital channels, including, a website that currently also provides services related to COVID-19, such as rapid test arrangement for consumers at risk in hospitals cooperating with Kalbe Farma.The service is currently available in Greater Jakarta and Surabaya, East Java.Meanwhile, through its subsidiary PT Enseval Putera Megatrading, Kalbe also runs digital health distribution services through the EMOS and MOSHEALTH platform, for both businesses and customers to ease the process of ordering pharmaceutical and other health products.“We see the utilization of the existing platforms as a very good option,” Vidjongtius added.last_img read more

first_imgBatesville’s Bicentennial Bison. You can see it in front of the memorial building.BATESVILLE, Ind. — Indiana’s Bicentennial finale is set for this weekend.Communities across the state are planning their own celebrations.There will be a big celebration in Indianapolis at the State Fairgrounds.The free event will take place on Sunday from 10:00 AM until noon.The towns of Batesville and Greensburg are also planning their own Bicentennial celebrations.Batesville invites the public to the Memorial Building at 11:30 AM on Sunday.The program will feature Mayor Mike Bettice and local torchbearers.Meanwhile, the Historical Society of Decatur County is hosting their celebration at the Historical Society Museum.The museum will host its annual open house on Sunday from 1 to 4 PM. The Historical Society will take a look at Indiana’s Bicentennial with a look back through local history.last_img read more

first_imgThe Latest: Indiana St pauses football workouts. The team was traveling to New York to resume its schedule against the Yankees in a night game.The Phillies (1-2) have not played since July 26. Their opponent in that opening series, the Miami Marlins, had at least 18 players test positive for the coronavirus. Although the Phillies didn’t have any players test positive, their games last week were postponed as a cautionary measure.___Danish organizers say the Tour de France start due to take place in Copenhagen next year has been moved to 2022 to avoid being held in the same month as the rescheduled Tokyo Olympics and the European Championship soccer tournament.Copenhagen Mayor Frank Jensen says the move means the three-stage Tour start in his city will now be planned for July 1-3, 2022, adding that he hopes the coronavirus pandemic will have passed by then. August 3, 2020 The National Hockey League says there have been zero positive coronavirus test results since 24 teams entered quarantined bubbles in Toronto and Edmonton, Alberta.The league announced it had administered more than 7,000 tests to players, coaches, staff and officials over the past week. Teams with 52-member traveling parties entered the bubbles July 26.There were also zero positives the previous week when teams were still in their home cities for training camp.___Results of COVID-19 testing conducted Sunday show there were no new positive results for the Philadelphia Phillies. Associated Press ___Las Vegas Raiders defensive back D.J. Killings and defensive end Jeremiah Valoaga have chosen to opt out of the 2020 season over concerns about the COVID-19 pandemic.The Raiders announced the decision Monday. They are the first two Raiders to choose to sit out this season because of the coronavirus.Killings has spent time on practice squads in Indianapolis and Green Bay but hasn’t played in a game.Valoaga has played 13 games for Detroit and San Francisco. The Cardinals are the second team sidelined by the novel coronavirus since the season started July 23. The Miami Marlins are set to resume play Tuesday in Baltimore following an outbreak within their traveling party that sidelined half the players. Miami has not played since July 26.Because the outbreak occurred in the visiting clubhouse at Citizens Bank Park, the Phillies were sidelined for a week while they were tested daily.___The Raiders will play their first season in Las Vegas without any fans at their home games because of the COVID-19 pandemic. The Cleveland Browns have placed third-string quarterback Garrett Gilbert on the reserve/COVID list and activated punter Jamie Gillan. He had tested positive for coronavirus. The Browns also placed safety Karl Joseph on the active/physically unable to perform list with a foot injury. He was signed during the offseason and is expected to start. Gilbert joined the Browns last season to back up Baker Mayfield, a close friend from their high school days in Texas. Gilbert is third on the depth chart now after the Browns signed veteran QB Case Keenum. Last week, first-year Browns coach Kevin Stefanski said he didn’t see the need to keep his quarterbacks separated because of the virus. Other teams have considered the move in case of an outbreak.Gillan set a team record for net average last year as a rookie. He was placed on the COVID list last week after testing positive when veterans reported.center_img ___Seven St. Louis Cardinals players and six staff members tested positive for COVID-19, causing Major League Baseball to postpone the team’s four-game series at Detroit.The series was to have been played at Comerica Park from Tuesday through Thursday.St. Louis has been in quarantine since Thursday in Milwaukee, where the Cardinals’ series last weekend was postponed, and the team is being tested daily. St. Louis last played July 29 at Minnesota and is tentatively set to resume its schedule this Friday at home against the Chicago Cubs. Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___Indiana State has paused football workouts for two weeks after six players tested positive for COVID-19. The 2021 Tour was scheduled set to start on July 2.The Tour’s French organizers have yet to announce a replacement city for Copenhagen, although there have been reports that the three-week event could start from the French region of Brittany in 2021.This year’s Tour, which was supposed to start in June, will now be held Aug. 29-Sept. 20 — starting in Nice.___More AP sports: and Coach Curt Mallory told players, coaches and support staff everyone must quarantine for 14 days. The athletic department issued a news release, saying none of the six players participated in Sunday’s March for Justice because they — and those in close contact with them — had already been isolated.The Sycamores also say the players do not live on campus.Indiana State is at least the third team from the Missouri Valley Football Conference, a traditionally strong Football Championship Subdivision league, to pause workouts.“Our doctors and training staff instituted and followed strict protocols on monitoring and testing student-athletes,” athletic director said Sherard Clinkscales.Big Ten member Indiana University just resumed voluntary workouts Friday following a two-week suspension after six participants also tested positive for COVID-19. The team sent a letter to season ticket holders on Monday saying that after discussion with health care officials and local leaders, the decision was made not to allow fans.Officials last week declared “substantial completion” of 65,000-seat Allegiant Stadium after nearly 1,000 days were spent building the $2 billion home for the Raiders.Both the New York Jets and Giants previously announced they would play without fans this season. Most other teams are hoping to be able to have at least limited crowds.The Raiders relocated from Oakland, California, after last season.___ ___The Northwestern football team has paused workouts after a player tested positive for COVID-19.The player is isolating and several teammates are quarantining, the school said Monday. The team’s most recent workout was Friday. The next one will be Wednesday at the earliest.Northwestern went 3-9 overall last season and 1-8 in conference play to finish last in the Big Ten West.___last_img read more