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The Star
01-08-2025
- Business
- The Star
Sapura Energy renamed Vantris Energy after shareholders' nod
Vantris Energy group chief executive officer Muhammad Zamri Jusoh KUALA LUMPUR: Sapura Energy Bhd has changed its name to Vantris Energy Bhd, following approval at an extraordinary general meeting held on July 30, 2025. In a separate extraordinary general meeting on July 30, shareholders also approved the company's proposed regularisation plan (PRP), a key step in its financial and operational turnaround. In a statement, it said the new name takes effect on Aug 1, following the issuance of a Certificate of Incorporation on Change of Name by the Companies Commission of Malaysia. 'The idea for the name came from our own people - we received over 200 submissions and Vantris Energy emerged as the top choice,' Vantris Energy group chief executive officer Muhammad Zamri Jusoh said. 'It marks a new chapter for our Company, honours our journey, and represents the trust we aim to rebuild with stakeholders.' The name change coincides with the company's impending implementation of its PRP, which received over 99% shareholder approval, reflecting strong support for the group's turnaround. The PRP, approved by Bursa Malaysia in June 2025, comprises capital reconstruction, debt restructuring, fundraising, and a proposed exemption—measures aimed at restoring financial health, supporting operations, and enabling an exit from PN17 status. Under the capital reconstruction, the company will implement a 99.99% capital reduction to offset losses, along with a 20-to-1 share consolidation. As part of the debt restructuring, total borrowings will be cut from RM10.8bil to about RM5.6bil, lowering interest expenses by over RM500mil. The deleveraging aims to restore profitability and boost confidence among clients and financiers. Malaysia Development Holding will subscribe up to RM1.1bil in redeemable convertible loan stocks (RCLS) to settle outstanding payments to local oil and gas vendors. Shareholders also approved an exemption from a mandatory general offer if the RCLS is fully converted. 'We are deeply encouraged by the strong mandate from our shareholders. We are also glad that shareholders have actively exercised their rights and played a decisive role in shaping the Company's future. With these approvals, Vantris Energy is now in a stronger position to move forward with renewed focus, financial strength, and purpose,' Muhammad Zamri said.
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Business Standard
24-07-2025
- Business
- Business Standard
Indoco Remedies rises 6% on EU GMP certificate, trims gains after Q1 show
Indoco Remedies share price: Shares of pharmaceutical company Indoco Remedies were in focus on Thursday, July 24, 2025, with the scrip rising as much as 5.99 per cent to an intraday high of ₹328.65 per share. By 12:41 PM, Indoco Remedies shares had pared some gains, and were trading 4.18 per cent higher at ₹323 after weak Q1 results. In comparison, the BSE Sensex was down 0.64 per cent at 82,198.32 levels. Indoco Remedies gets EU GMP Compliance certificate Earlier in the day, Indoco Remedies had announced that it has received a Certificate of EU Good Manufacturing Practices (GMP) Compliance from the European Health Authorities for its sterile drug product manufacturing facility at Goa Plant II. "The EU GMP certification issued by the European Health Authorities confirms that the site complies with the Good Manufacturing Practice requirements," the company said. Aditi Panandikar, managing director, Indoco Remedies, said, 'This GMP certification for our sterile drug product manufacturing facility, Goa Plant II is a testament to our relentless efforts to supply quality and affordable medicines across geographies. We remain fully committed to adhering to cGMP standards and consistently delivering quality products to customers and patients worldwide.' Indoco Remedies Q1 results Indoco Remedies posted a disappointing set of numbers for the June quarter of financial year 2026 (Q1FY26). Indoco Remedies reported a net loss of ₹35.6 crore in Q1FY26, compared to a profit of ₹2.6 crore in the same period last year (Q1FY25). Revenue rose marginally (1.5 per cent) year-on-year (Y-o-Y) to ₹438 crore in the June quarter of FY26, from ₹431.5 crore in the June quarter of FY25. Operational performance took a major hit. Ebitda, also known as operating performance, declined 63.3 per cent Y-o-Y to ₹17.5 crore, as against ₹47.8 crore in the same quarter a year ago, while margins contracted to 4 per cent in Q1FY26, from 11.1 per cent in Q1FY25. About Indoco Remedies Indoco Remedies is a fully integrated, research-driven pharmaceutical company with a strong global footprint. With a turnover of $180 million and a workforce of over 6,000 employees – including more than 400 skilled scientists and field staff – the company is built on a foundation of scientific excellence and operational strength. The company operates 11 manufacturing facilities, comprising seven for finished dosage forms (FDFs) and four for active pharmaceutical ingredients (APIs), supported by a state-of-the-art R&D center and a contract research organization (CRO). These facilities are approved by key global regulatory bodies such as the USFDA and UK-MHRA, enabling Indoco to cater to both domestic and international markets. The company commands a strong presence in the Indian market with over 106 million prescriptions generated annually by more than 2,40,000 doctors across various specialties. Indoco has 10 domestic marketing divisions and a robust brand portfolio spanning multiple therapeutic segments including gastrointestinal, respiratory, anti-infectives, ophthalmology, cardiovascular, pain management, and more. Leading brands include Cyclopam, Febrex Plus, Sensodent-K, Karvol Plus, ATM, Oxipod, and Cital. On the global front, Indoco Remedies has forged strategic partnerships with several major generic companies, further strengthening its position in regulated and emerging markets alike.
Pembrokeshire Herald
31-05-2025
- Business
- Pembrokeshire Herald
FUW welcomes progress of livestock worrying bill in Parliament
A CALL to allow a rural Pembrokeshire home next to an animal sanctuary for battery hens to be used without an agricultural condition has been refused by county planners. In an application to Pembrokeshire County Council through agent Colony Architects Ltd, Aaron Player sought permission for a Certificate of Lawful Development, allowing a removal of an agricultural occupancy condition at Brynhaul, near Tegryn, Llanfyrnach. A supporting statement said the agricultural-only condition was placed on the property, when the house was built in the 1990s; the land formerly part of a larger 75-acre estate. It added: 'The property is owned by Mr and Mrs Player, who purchase the property on April 8, 2022, some three years ago,' adding: 'Prior to this, the property was owned by the former owner for over 20 years, and operated the site as a livery and horse box customisation company call VJ Edwards.' Part of a Certificate of Lawful Development application involves providing evidence that – in this case – a continual non-agricultural use has taken place for at least 10 years. 'The two previous owners (Players and Edwards), have used the property as a dwelling, without any agricultural business for in excess of 20 years. The previous owners operated the company Edquine Ltd, from the property, between 2014 until 2020, when the company was closed.' It says there is 'robust evidence' that illustrates 'on the balance of probability' that the property has been used as a residential dwelling for in excess of 10 years'. Last year, Aaron Player was granted retrospective permission to keep an animal sanctuary for disabled animals and ex-battery hens at the site running, works having started in 2023. An officer report recommending refusal said the agricultural occupancy condition dates back to 1990. It references claims the site has been part used as an animal sanctuary, having gained permission last August, but says: 'It is noted that this permission did not include the dwelling subject of this application.' On previous the occupancy to the Players, the livery and horse box customisation company said to be there for some 20 years, it says: 'Evidence provided to corroborate this consists only of a file copy of a 'Certificate of Incorporation of a Private Limited Company', with a company name of 'Edquine Ltd'. 'There is no corresponding address with the Certificate to confirm the business was based at Brynhaul, what the business entailed, and who operated the business. In addition, the business name of Edquine Ltd also appears different to the business name of the horse box customisation business referred to previously in the statement as 'VJ Edwards'. The certificate merely confirms that a business was incorporated on July 7, 2014 under the name 'Edquine Ltd'.' It concludes: 'It is considered the statement and the certificate of incorporation do not on balance sufficiently demonstrate a continuous breach of the agricultural occupancy condition in excess of a 10-year period at Brynhaul as required.'
Pembrokeshire Herald
27-05-2025
- Business
- Pembrokeshire Herald
Pembrokeshire home next to animal sanctuary not allowed to drop farming-only use rule
A CALL to allow a rural Pembrokeshire home next to an animal sanctuary for battery hens to be used without an agricultural condition has been refused by county planners. In an application to Pembrokeshire County Council through agent Colony Architects Ltd, Aaron Player sought permission for a Certificate of Lawful Development, allowing a removal of an agricultural occupancy condition at Brynhaul, near Tegryn, Llanfyrnach. A supporting statement said the agricultural-only condition was placed on the property, when the house was built in the 1990s; the land formerly part of a larger 75-acre estate. It added: 'The property is owned by Mr and Mrs Player, who purchase the property on April 8, 2022, some three years ago,' adding: 'Prior to this, the property was owned by the former owner for over 20 years, and operated the site as a livery and horse box customisation company call VJ Edwards.' Part of a Certificate of Lawful Development application involves providing evidence that – in this case – a continual non-agricultural use has taken place for at least 10 years. 'The two previous owners (Players and Edwards), have used the property as a dwelling, without any agricultural business for in excess of 20 years. The previous owners operated the company Edquine Ltd, from the property, between 2014 until 2020, when the company was closed.' It says there is 'robust evidence' that illustrates 'on the balance of probability' that the property has been used as a residential dwelling for in excess of 10 years'. Last year, Aaron Player was granted retrospective permission to keep an animal sanctuary for disabled animals and ex-battery hens at the site running, works having started in 2023. An officer report recommending refusal said the agricultural occupancy condition dates back to 1990. It references claims the site has been part used as an animal sanctuary, having gained permission last August, but says: 'It is noted that this permission did not include the dwelling subject of this application.' On previous the occupancy to the Players, the livery and horse box customisation company said to be there for some 20 years, it says: 'Evidence provided to corroborate this consists only of a file copy of a 'Certificate of Incorporation of a Private Limited Company', with a company name of 'Edquine Ltd'. 'There is no corresponding address with the Certificate to confirm the business was based at Brynhaul, what the business entailed, and who operated the business. In addition, the business name of Edquine Ltd also appears different to the business name of the horse box customisation business referred to previously in the statement as 'VJ Edwards'. The certificate merely confirms that a business was incorporated on July 7, 2014 under the name 'Edquine Ltd'.' It concludes: 'It is considered the statement and the certificate of incorporation do not on balance sufficiently demonstrate a continuous breach of the agricultural occupancy condition in excess of a 10-year period at Brynhaul as required.'
The Star
16-05-2025
- Business
- The Star
Mineral licence approval now takes one week instead of 61 days, says ministry
PUTRAJAYA: The Natural Resources and Environmental Sustainability Ministry (NRES), through the National Minerals and Geoscience Department (JMG), has successfully reduced the approval time for the Mineral Licence (Without Storage Premises) from 61 days to just seven days under its Bureaucratic Red Tape Reform (RKB) project. According to NRES, the reform is expected to lower compliance costs for mineral trading companies by up to 20 per cent, boosting both domestic and international trade and generating an estimated RM1.3mil in annual revenue for the government. "This initiative reflects NRES' ongoing commitment to streamlining industry operations and enhancing the efficiency of public service delivery,' the ministry said in a statement on Friday (May 16). In recognition of this achievement, JMG received a Certificate of Appreciation presented by Chief Secretary to the Government, Tan Sri Shamsul Azri Abu Bakar, to NRES secretary-general, Datuk Dr Ching Thoo a/l Kim, on April 10. The RKB project is part of the Special Task Force on Agency Reform (STAR), chaired by the Chief Secretary, and aims to expedite regulatory processes while reducing compliance costs for businesses and the public. This move also supports the Public Service Reform Agenda 2024-2030 and the Malaysia Madani vision, which seeks to improve government efficiency, drive productivity, and enhance public well-being. Additionally, the reform helps accelerate administrative processes, strengthen industrial competitiveness, and promote sustainable mineral exports. - Bernama
