Kalbe Farma (KLBF IJ): Navigating Through the New Pharma Dynamics

Indo Snippets: Tobacco Tax for BPJS Deficit, Earthquake in Palu, LPPF Share Buyback, Garudafood IPO

INDO Snippets: New Import Tariff, #Jokowi2019, Go-Viet Launch

ASEAN Insight Provider

Jessica Irene

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Thematic (Sector/Industry)

Indonesia Healthcare providers and services / Thematic (Sector/Industry)

The Health and Social Security (BPJS) deficit is forecasted to reach IDR28tn by the end of 2019, growing exponentially from IDR16tn in 2018 and IDR10tn in 2017. The deficit is a key issue for the National Health Insurance (JKN) providers as the reimbursement (INA-CBG) tariff has been held constant over the past three years.The government has launched several initiatives in the past to revamp the JKN funding and disbursement systems, including reallocating the tobacco excise duty for BPJS. The Ministry of Finance recently proposed to raise Class 1 JKN monthly premiums from IDR80,000 to IDR160,000, Class 2 premiums from IDR51,000 to IDR110,000, and raise government subsidized premium from IDR23,000 to IDR42,000. The Ministry of Health took a different approach in curbing the deficit by issuing a classification change of JKN providers including <a href="https://www.smartkarma.com/entities/medikaloka-hermina-tbk-pt" target="_blank" data-smartkarma-citation="entities:27000:1" rel="noopener">Medikaloka Hermina (HEAL IJ)</a>, <a href="https://www.smartkarma.com/entities/mitra-keluarga-karyasehat-tb" target="_blank" data-smartkarma-citation="entities:288:1" rel="noopener">Mitra Keluarga Karyasehat Tb (MIKA IJ)</a>, and <a href="https://www.smartkarma.com/entities/siloam-international-hospital" target="_blank" data-smartkarma-citation="entities:878:1" rel="noopener">Siloam International Hospital (SILO IJ)</a>. Five, four, and four hospitals are affected from each companies respectively.Each regulations will have a different impact on the listed names, and this insight is aimed to give more detail on the ultimate winners and losers.

The Health and Social Security (BPJS) deficit is forecasted to reach IDR28tn by the end of 2019, growing exponentially from IDR16tn in 2018 and IDR10tn in 2017. The deficit is a key issue for the National Health Insurance (JKN) providers as the reimbursement (INA-CBG) tariff has been held constant over the past three years.The government has launched several initiatives in the past to revamp the JKN funding and disbursement systems, including reallocating the tobacco excise duty for BPJS. The Ministry of Finance recently proposed to raise Class 1 JKN monthly premiums from IDR80,000 to IDR160,000, Class 2 premiums from IDR51,000 to IDR110,000, and raise government subsidized premium from IDR23,000 to IDR42,000. The Ministry of Health took a different approach in curbing the deficit by issuing a classification change of JKN providers including Medikaloka Hermina (HEAL IJ), Mitra Keluarga Karyasehat Tb (MIKA IJ), and Siloam International Hospital (SILO IJ). Five, four, and four hospitals are affected from each companies respectively.Each regulations will have a different impact on the listed names, and this insight is aimed to give more detail on the ultimate winners and losers.

Healthcare Sector: National Health Insurance Revolution, Impact on HEAL, MIKA, SILO