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 <iwan...@gmail.com> menulis: Dari: Iwan Heryanto <iwan...@gmail.com> 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 Menambah banyak teman sangatlah mudah dan cepat. Undang teman dari Hotmail, Gmail ke Yahoo! Messenger sekarang! http://id.messenger.yahoo.com/invite/