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Merck to venture into property, management business

PT Merck, the local arm of German pharmaceutical giant Merck KGaA, plans to diversify its business portfolio by jumping into the office or property rental and management consultancy business

The Jakarta Post
Jakarta
Tue, June 23, 2015

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Merck to venture into property, management business

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T Merck, the local arm of German pharmaceutical giant Merck KGaA, plans to diversify its business portfolio by jumping into the office or property rental and management consultancy business.

The firm stated in a recent disclosure submitted to the Jakarta Stock Exchange (IDX) that the business diversification was aimed at boosting the firm'€™s financial performance in the future.

"Merck has thoroughly calculated the business opportunity ['€¦] that can be continuously pursued, and the firm is upbeat that it can leverage on available opportunities to provide added value for its shareholders,'€ it said in the disclosure.

Merck has estimated that after carrying out the action, its profit per share will surge to Rp 8,855 (67 US cents) in 2016 and Rp 13,207 in 2020, compared to Rp 8,101 per share last year.

The firm has stated that the plan is subject to approval from shareholders at the extraordinary shareholders meeting, which will take place on July 28.

Merck, listed on the stock exchange as MERK, booked only a 3.5 percent increase in net profits to Rp 181.5 billion last year from Rp 175.4 billion in 2013. Rising foreign exchange losses have put pressure on the firm'€™s revenues. (koi/hhr)(+++)

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