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Indofarma Global Medika declared bankrupt amid ongoing graft investigation

Published on 12/02/2025 GMT+7 Reading time 2 minutes

PT Indofarma Global Medika, a subsidiary of State-owned pharmaceutical company PT Indofarma (INAF), was declared bankrupt by the Supreme Court through its ruling on Monday, February 10, 2025.

 

"The status of the decision is granted," said the Court ruling as quoted on Tuesday, February 11, 2025.

 

In addition, the Court ruling also appointed four curator teams to handle the bankruptcy process of PT Indofarma Global Medika. They are Novio Manurung, Margaret Tacia Situmorang, Yusti Riana P. and Adinda Anisa Madani.

 

The State-owned Enterprises’ Health Workers Union had earlier asked the Attorney General's Office (AGO) to immediately seize assets belonging to the suspect in the INAF fraud case.

 

The Union’s demand emerged after the Jakarta Provincial Prosecutor's Office named former Indofarma President Director Arief Pramuhanto and two other people as suspects in a case of alleged corruption in financial management during the period of 2020-2023.

 

The three individuals were named as suspects for having allegedly caused losses to state-owned enterprises or state finances worth Rp371 billion (US$22.7 million). Ridwan Kamil, Secretary General of the Federation of State-owned Enterprises’ Health Workers Union (SP), said Indofarma was unhealthy due to inefficiency.

 

For the past seven years, Indofarma employees have not received a salary increase. In addition, the determination of these three suspects strengthens the suspicion of corrupt practices at Indofarma, especially in the 2020-2023 period.

 

"We have revealed this to Trade and State-owned Enterprises Commission VI of the House of Representatives (DPR). Inefficiency occurs because of corruption," Kamil said in a statement as quoted on  September 23, 2024.

 

Kamil revealed that when he served as Chairman of the Indofarma Workers Union, he actively informed the Board of Commissioners of Indofarma, the Ministry of SOEs and Commission VI of the House of Representatives about the potential for corruption.  

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