Update on KLBF lawsuit claim filed by JP Morgan
(Buy; KLBF IJ; Rp440; TP Rp643)
In response to the lawsuit claim filed by JP Morgan, Kalbe Farma (KLBF) as the
defendant announced that it is ready to face the claim. The US$19.2mn claim,
which was filed in September 2008, indicated that KLBF has its agreement on two
derivative contracts and also refused to pay the cancellation fees for the
early contract termination. According to the Director, KLBF regularly deals
with JP Morgan on foreign currency hedging contracts for the purpose of raw
material purchases that are quoted in US$ terms.
We are currently waiting for further details on the matter. As for the
allegation amount of US$19.2mn, the impact could be material should it go
unfavourably for KLBF as it accounts We are currently waiting for further
details on the matter. As for the allegation amount of US$19.2mn, the impact
could be material should it go unfavourably for KLBF as it accounts for 42.5%
of its 9M08 net profit assuming Rp11,150/US$.
Dario Amran
--- Pada Sel, 20/1/09, Iwan Heryanto menulis:
Dari: Iwan Heryanto
Topik: [obrolan-bandar] KLBF Joget-joget
Kepada: obrolan-bandar@yahoogroups.com
Tanggal: Selasa, 20 Januari, 2009, 9:58 AM
Prends,
KLBF joget-joget tuw...
Target hari ini berapa yah?
Oom JT?
TIA,
Iwan
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