Latest news with #ZulkifliJafar
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 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
Barnama
29-04-2025
- Business
- Barnama
Pharmaniaga Confident Of Exiting PN17, Backed By Resilient Operations And Forward Strategies
REGION - CENTRAL > NEWS KUALA LUMPUR, April 29 (Bernama) -- 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 here today, 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 (FY2024), released today. 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. bootstrap slideshow Pharmaniaga's 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 FY2024, 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 FY2024, reversing a net loss of RM80.16 million recorded in FY2023. 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 FY2024 '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.
New Straits Times
29-04-2025
- Business
- New Straits Times
Steady progress to recovery, Pharmaniaga assures shareholders
KUALA LUMPUR: Pharmaniaga Bhd has assured shareholders about its recovery, guided by "well-defined strategies and supported by resilient business operations". The company said these strengths have contributed to its steady progress, with all key indicators pointing toward financial recovery for exiting Practice Note 17 (PN17) status. "This positive trajectory reinforces Pharmaniaga's strong fundamentals and financial recovery, as reflected in the audited financial statements for the financial year ended December 31, 2024 (FY24), released today. "The auditor made a standard reference to material uncertainty related to going concern, which is common for companies undergoing recovery but the opinion remains unqualified, reflecting the confidence in its steady progress," it said in a statement. Pharmaniaga managing director Zulkifli Jafar said while acknowledging the auditor's opinion, it assures all stakeholders that the company is well-positioned toward financial recovery with significant progress achieved to-date. "The return to profitability in FY2024, combined with the successful approval of our restructuring plan is clear evidence that we are on the right track. "Our strong operational foundation, growing investor interest, and forward momentum in biopharmaceuticals give us every reason to be optimistic about the future," he said. Zulkifli assured the public, its customers, healthcare professionals and all stakeholders that Pharmaniaga is stabilising and progressing well according to the plan, guided by its Vision 525. "Our teams across Malaysia and Indonesia remain dedicated to delivering excellence in logistics, manufacturing, and healthcare solutions," he added.
