Latest news with #ZulkifliJafar
New Straits Times
2 days ago
- Business
- New Straits Times
Pharmaniaga shares soar past 45pc, volume hits two-year high
KUALA LUMPUR: Shares of Pharmaniaga Bhd soared more than 45 per cent in active trade, as buying momentum lifted trading volume to levels not seen in over two years. At 11.54am, the stock was up six sen or 38.71 per cent at 21.5 sen, with 51 million shares changing hands, its busiest day since April 20, 2023. It was the second most actively traded counter at the time. The stock opened 9.68 per cent higher at 17 sen and rose as much as 22.5 sen, up 45.16 per cent from its previous close of 15.5 sen. There have been no fresh corporate announcements aside from the renounceable rights issue of up to 3.52 billion shares announced earlier this month. On July 1, the counter went ex-rights, triggering a technical price adjustment from 23.5 sen on June 30 to 16 sen. Until today's rally, the stock had been trading between 14 sen and 16.5 sen. At 22 sen, it is now edging back toward its pre-rights issue level above 20 sen. Pharmaniaga, once weighed down by a RM552.3 million impairment from unsold Covid-19 vaccines, slipped into Practice Note 17 (PN17) status in February 2023. But the company has since returned to profitability in the financial year ended Dec 31, 2024 (FY24) and expects to stay in the black in FY25. The group is eyeing revenue of RM4 billion this year, up from RM3.8 billion in FY24, a level it last crossed in FY21. Its managing director Zulkifli Jafar has said the company aims to exit PN17 status by the end of this year or early 2026. Pharmaniaga is majority-owned by Boustead Holdings Bhd, which in turn is controlled by Lembaga Tabung Angkatan Tentera (LTAT). According to the latest annual report, LTAT holds a direct 44.47 per cent stake in the company.
New Straits Times
5 days ago
- Business
- New Straits Times
CIMB, Pharmaniaga team up to boost financial flexibility for healthcare SMEs
KUALA LUMPUR: CIMB Bank Bhd has signed a collaboration agreement with Pharmaniaga Logistics Sdn Bhd, a wholly owned unit of Pharmaniaga Bhd (Pharmaniaga), to enhance supply chain financing and ease payment flexibility for small and medium enterprises (SMEs) in the healthcare sector. The partnership aims to provide greater financial flexibility to clinics, pharmacies and medical buyers across the sector, CIMB said. "Under the collaboration, CIMB and Pharmaniaga will offer enhanced payment flexibility to downstream buyers including private clinics and independent pharmacies through CIMB SME BusinessCard," the bank said in a statement today. Businesses can enjoy up to 50 days of extended credit when purchasing medical supplies using the card and get unlimited 0.5 per cent cash rebate on all Pharmaniaga purchases, offering a valuable incentive to improve cash flow and optimise working capital. Lawrence Loh, CIMB Group co-chief executive officer (group commercial and transaction banking), said that by offering extended credit terms and early settlement incentives, the bank is helping clinics, pharmacies, and medical buyers better manage cash flow and reduce operational strain while enhancing the quality of care they provide. "We aim to further expand our healthcare SME portfolio, driven by strategic collaborations with ecosystem partners and enhanced access to digital, sector-focused financing solutions," he said in the statement. Meanwhile, Pharmaniaga managing director Zulkifli Jafar said this collaboration reflects the pharmaceutical company's strong commitment to supporting its valued business partners with practical financial solutions to manage their supply chains more effectively. "By offering greater payment flexibility and tailored financing options, we aim to empower our partners to grow sustainably while ensuring continuous access to a broad range of pharmaceutical products to serve their clients with confidence," he said.
The Star
19-06-2025
- Business
- The Star
Trading ideas: Public Bank, DNeX, Food Life, Master TEC, MN, Guocoland, Capital A, Kobay, LGMS, Pharmaniaga, Scientex
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Public Bank ordered to pay RM90mn in damages to the National Feedlot Corporation for confidentiality breach. Dagang Nexchange Bhd has secured a RM103.8mn contract from the government to continue providing support for the Integrated Government Financial and Management Systems over a period of 60 months. Food Life Sdn Bhd a wholly-owned subsidiary of Farm Price Holdings Berhad, has entered into agreements to acquire assets and a business from Hong Yun Vegetables and Fruits Sdn Bhd, as well as assets from D & D Sinma 8888 Univeg Trading for a total of RM4.5mn in cash. Master TEC Group Bhd has entered into a MoU with Yangtze (Jiangsu) Marine Technology Company Limited to explore collaboration on high-specification and next-generation cable solutions for Malaysia's growing power infrastructure market. MN Holdings Bhd has secured a RM39.6mn contract for the expansion of the electrical supply system for a cable landing station located at a data centre in southern Peninsular Malaysia. Guocoland (Malaysia) Bhd said the group faces a net financial impact of RM5.5mn following an arbitration ruling against its wholly owned subsidiary over a disputed project termination. The CEO of Capital A Group, Tan Sri Tony Fernandes, said on Wednesday the owner of AirAsia is in talks to buy 50 to 70 Airbus A321XLR jets in coming months, but that the first priority is to complete the group's restructuring. Kobay Technology Bhd plans to reallocate RM20.7mn — part of the funds originally set aside for its aluminium business expansion — to develop manufacturing services for the electronic and electrical sector. LGMS Bhd is seeking a transfer of its shares to the Main Market of Bursa Malaysia from the ACE Market. Pharmaniaga Bhd said it will continue to stay in the black for the FY2025 after making a turnaround last year, according to its managing director Zulkifli Jafar. The group is targeting to deliver FY2025 revenue of RM4bn a profit after tax of RM60mn. Scientex Bhd saw its net profit slip over 5% to RM123.9mn in 3QFY25 as the improved operating profit at its property segment was more than offset by a weaker packaging division.
The Sun
18-06-2025
- Business
- The Sun
Pharmaniaga aims to exit P17 status by end-2025 or first-quarter 2026
KUALA LUMPUR: Pharmaniaga Bhd is targeting to exit Practice Note 17 (PN17) status as early as end-2025 or by the first quarter of 2026. Managing director Zulkifli Jafar said its RM352.2 million rights issue and private placement will be the driver of its regularisation plan. 'We are targeting, we are hoping, in the best-case scenario, we are out at the end of this year. In the worst-case scenario, we are out in the first quarter of 2026,' he said at a press conference after Pharmaniaga's 27th AGM today. Zulkifli said a substantial amount from the funds raised under the regularisation plan will be used to pare down its debt. 'That paring down of our debt alone will save about 16 million a year on interest.' Pharmaniaga has 21 market days to finalise the private placement and the rights issue together with the subscription. The group will then undertake a capital reduction exercise, expected to take about a week. 'We're targeting to complete the fundraising exercise by August,' said Zulkifli. 'By end-August, we expect to complete the entire regularisation plan.' Under Bursa Malaysia's rules, the group must record two consecutive quarters of net profit before it can exit PN17. However, Zulkifli said Pharmaniaga is seeking a waiver to shorten the wait time. 'We're proposing to consider one quarter before and one after the completion, instead of two full quarters post-completion.' As to the AGM, all 13 resolutions tabled were passed with 99% approval. 'This shows that shareholders believe in our strategy and our journey towards exiting PN17,' Zulkifli remarked. He said that for 2024, the group recorded a profit after tax (PAT) of RM133.8 million, compared with a loss of about RM78 million previously. 'We are targeting for 2025 about RM4 billion in revenue with a PAT of RM60 million. This is our target although we hope we can achieve better than that.' Pharmaniaga, a subsidiary of Boustead Holdings Bhd, was classified as a PN17 company in February 2023 after it reported major financial losses. Pharmaniaga incurred a RM552.3 million impairment due to excess inventory of Sinovac Covid-19 vaccines.
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.
