New wholly-owned subsidiary is held by Duopharma Consumer Healthcare and Duopharma Biotech
KUALA LUMPUR, 12 APRIL 2023 – Duopharma Biotech Berhad (“Duopharma Biotech” or “the Company”) has established PT Duopharma Healthcare Indonesia (“PT DHI”) as a wholly-owned subsidiary of the Company in the Republic of Indonesia. Confirmation of the approval of the establishment of PT DHI by the Ministry of Law and Human Rights of the Republic of Indonesia was received by the Company on 11 April 2023.
PT DHI is a limited liability company, with a current authorised and issued capital of Rp 10,001,000,000 comprising 10,001 shares. Duopharma Consumer Healthcare Sdn Bhd (a wholly-owned subsidiary of Duopharma Biotech) holds 99% of shares while the remaining 1% is held directly by Duopharma Biotech.
Duopharma Biotech Group Managing Director Leonard Ariff Abdul Shatar commented, “The establishment of this subsidiary is a testament to Duopharma Biotech’s confidence in the potential of Indonesia’s pharmaceutical and healthcare sector. We are committed to strengthening collaborations with Indonesian partners and exploring new strategic investments in the most promising segments.”