Latest news with #PharmaniagaBhd
Free Malaysia Today
22-05-2025
- Business
- Free Malaysia Today
Pharmaniaga gets 3-month extension to carry out regularisation plan
Pharmaniaga said if it fails to carry out the regularisation plan within the given time frame, Bursa Securities will serve the company with a suspension notification. KUALA LUMPUR : Bursa Malaysia Securities Bhd has granted Pharmaniaga Bhd a three-month extension up to Aug 29 to implement its regularisation plan. 'The extension of time granted is without prejudice to Bursa' right to proceed to suspend the trading of Pharmaniaga's listed securities and to delist the company in the event it fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities,' the company said in a filing with Bursa. Pharmaniaga said if it fails to carry out the regularisation plan within the given time frame, Bursa will serve the company with a suspension notification before suspending trading of listed securities on the sixth market date from the suspension. Pharmaniaga will then be delisted, subject to the company's right to appeal against the delisting, it said.
The Star
07-05-2025
- Business
- The Star
Pharmaniaga quarterly performance improves
The group said it will continue the implementation of its regularisation plan to exit its Practice Note 17 status. PETALING JAYA: Pharmaniaga Bhd 's net profit for the first quarter ended March 31, 2025 (1Q25) rose to RM29.58mil from RM25.65mil in the previous corresponding quarter, while revenue during the period grew to RM1.1bil, compared to RM965mil in the previous quarter. In a statement, the pharmaceutical group said the 9.4% increase in revenue was mainly supported by the manufacturing division that contributes 65% to the group's profit. Pharmaniaga's Indonesian division, however, recorded lower earnings before interest, taxes, depreciation, and amortisation (Ebitda) for the quarter under review due to the weakening of the rupiah against the ringgit. 'Excluding the impact of currency translation, the Ebitda showed an increase of 1.6%, driven by higher revenue from products of existing principals and additional sales generated from the opening of two new branches in February 2024 and one branch in October 2024,' the group said. Moving forward, the group added that it will continue the implementation of its regularisation plan to exit its Practice Note 17 status following shareholders' approval of resolutions. 'With these strategic initiatives in motion, Pharmaniaga remains focused on delivering its growth targets for 2025 and reinforcing its market position across core business segments,' it noted. As for Indonesia, the group will continue to strengthen its logistics network and manufacturing capabilities. 'Renovation of its central warehouse in Bekasi is progressing as planned and is expected to improve operational efficiency upon completion by 4Q25. 'The group has also commenced contract manufacturing activities, with additional projects in the pipeline under contract development manufacturing organisation arrangements.' Pharmaniaga managing director Zulkifli Jafar said the group was making significant progress in expanding its non-concession government business. 'During the quarter, we were awarded two major Health Ministry tenders for the supply of high-value specialty injectable medicines, Secukinumab and Enoxaparin Sodium with a combined contract value of RM97.5mil over three years,' added Zulkifli. Furthermore, he said that the group secured a RM139mil contract to supply dialysis solutions for the Social Security Organisation through 2029.
The Star
07-05-2025
- Business
- The Star
Pharmaniaga 1Q net profit rises to RM29.6mil
PETALING JAYA: Pharmaniaga Bhd 's net profit for the first quarter ended March 31, 2025 rose to RM29.58mil from RM25.65mil in the previous corresponding quarter, while revenue during the period grew to RM1.1bil, compared to RM965mil in the previous quarter. In a statement, the pharmaceutical group said the 9.4% increase in revenue was mainly supported by the manufacturing division, which contributes 65% to the group's profit. Pharmaniaga's Indonesian division however, recorded lower earnings before interest, taxes, depreciation, and amortisation (ebitda) for the quarter under review due to the weakening of the rupiah against the ringgit. 'Excluding the impact of currency translation, the ebitda showed an increase of 1.6%, driven by higher revenue from products of existing principals and additional sales generated from the opening of two new branches in February 2024 and one branch in October 2024,' the group said. Moving forward, the group said it will continue the implementation of its regularisation plan to exit its Practice Note 17 status following shareholders approval of resolutions. 'With these strategic initiatives in motion, Pharmaniaga remains focused on delivering its growth targets for 2025 and reinforcing its market position across core business segments,' it noted. As for Indonesia, the group will continue to strengthen its logistics network and manufacturing capabilities. 'Renovation of its central warehouse in Bekasi is progressing as planned and is expected to improve operational efficiency upon completion by the fourth quarter of this year. 'The group has also commenced contract manufacturing activities, with additional projects in the pipeline under contract development manufacturing organisation arrangements.'
New Straits Times
07-05-2025
- Business
- New Straits Times
Pharmaniaga posts stronger Q1 results, eyes PN17 exit
KUALA LUMPUR: Pharmaniaga Bhd's net profit rose 15.3 per cent to RM29.58 million in the first quarter ended March 31, 2025 (Q1 2025), from RM25.65 million in the same period a year earlier. The improved performance was driven by stronger revenue, which rose 9.4 per cent year-on-year to RM1.06 billion from RM964.96 million in Q1 2024. In a filing with Bursa Malaysia, the company said it recorded stronger demand in the concession segment, driven by higher order volumes from government hospitals and the inclusion of new products in the Approved Products Purchase List. Additionally, its cost optimisation measures led to a 2.5 per cent decrease in operating expenses compared to the same period last year. This was mainly due to lower warehouse rental costs and reduced spending on advertising and promotional activities. The group's manufacturing division posted a higher earnings before interest, taxes, depreciation and amortisation (ebitda) of RM30.9 million, up 67.9 per cent from RM18.4 million a year earlier. Pharmaniaga said this was driven by stronger demand from government hospitals for its in-house manufactured products. Meanwhile, the company's logistics and distribution division logged a lower ebitda of RM32.5 million versus RM37.8 million due to higher cost of goods sold arising from new pricing under the revised concession agreement. Pharmaniaga added it is moving forward with the implementation of its regularisation plan to exit its Practice Note 17 (PN17) status after receiving shareholders' approval.
The Sun
30-04-2025
- Business
- The Sun
Pharmaniaga confident of exiting PN17, backed by resilient operations and forward strategies
KUALA LUMPUR: Pharmaniaga Bhd remains confident of exiting Practice Note 17 (PN17) status, supported by resilient business operations and recovery strategies that have underpinned its steady financial progress. In a statement, the group said this positive trajectory reflects its strong fundamentals and financial recovery, as shown in the audited financial statements for the year ended Dec 31, 2024 (FY24), released on Tuesday. The auditor made a standard reference to material uncertainty related to going concern, which is common for companies undergoing recovery, but issued an unqualified opinion, reflecting the confidence in the group's steady progress. Pharmaniaga managing director Zulkifli Jafar said that while the group appreciates the auditor's opinion, it remains confident in its recovery, citing strong operational momentum across its business segments. 'The return to profitability in FY 2024, along with the successful approval of our regularisation plan, is clear evidence that we are on the right track. Our strong operational foundation, growing investor interest, and progress in biopharmaceuticals give us every reason for optimism,' he said. On Monday, Pharmaniaga reported a net profit of RM131.82 million for FY24, reversing a net loss of RM80.16 million recorded in FY23. Revenue rose to RM3.75 billion from RM3.40 billion a year earlier. In a filing with Bursa Malaysia, the group disclosed that its independent auditors, Messrs Ernst & Young PLT, had issued a statement of material uncertainty related to going concern in their report dated March 26, 2025, in respect to financial statements for FY24 'We draw attention to Note 2 in the financial statements, which indicates that the group's and the company's current liabilities exceeded their current assets by RM748.8 million and RM827.2 million, respectively, and the group recorded a capital deficiency of RM145.9 million as of Dec 31, 2024. 'These events or conditions, along with other matters set out in Note 2(a), indicate the existence of material uncertainties that may cast significant doubt on the group's and the company's ability to continue as a going concern. 'Nevertheless, the financial statements have been prepared on a going concern basis, which is materially dependent on the successful and timely implementation of the proposed regularisation plan and continued support from lenders,' the auditors said. – Bernama
