Pharmaniaga Berhad

$PHARMA / 7081 (PHARMANIAGA BERHAD)
Research Report by Kenanga

KUALA LUMPUR: Stocks to watch on Monday include WMG Holdings Bhd, Glostrext Bhd, Fajarbaru Builder Group Bhd, Gadang Holdings Bhd, Sunway Real Estate Investment Trust (Sunway REIT) and Pharmaniaga Bhd.

KUALA LUMPUR: Pharmaniaga Bhd (Pharmaniaga) has appointed Ernst & Young (EY) as its new external auditor, effective Oct 9, 2024.

© New Straits Times Press (M) Bhd

PETALING JAYA: Pharmaniaga Bhd has appointed Datuk Seri Abdul Razak Jaafar as its new chairman with immediate effect.

KUALA LUMPUR: Pharmaniaga Bhd has appointed Datuk Seri Abdul Razak Jaafar as its new independent non-executive chairman, and non-independent non-executive director Ahmad Shahredzuan Mohd Shariff as chief operating officer (COO), effective today.  

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KUALA LUMPUR: Pharmaniaga Bhd has announced the resignation of PricewaterhouseCoopers PLT (PwC) as its external auditor following a written notice served to the former on Sept 20.

© New Straits Times Press (M) Bhd

KUALA LUMPUR: ITMAX System Bhd, KJTS Group Bhd, EPB Group Bhd, Industronics Bhd, Apollo Food Holdings Bhd and Pharmaniaga Bhd are among the stocks to watch on Tuesday.

KUALA LUMPUR: Pharmaniaga Bhd today announced that Messrs. PricewaterhouseCoopers PLT (PwC) has resigned as its external auditor, following a written notice served to the group on Sept 20.

$PHARMA / 7081 (PHARMANIAGA BERHAD)

$PHARMA / 7081 (PHARMANIAGA BERHAD)
Research by Kenanga
Underperform - TP RM0.34

"Corporate Exercise Upstage Sustained Profitability in 2H"

PHARMA guided orders to pick up in 3QFY24 following a weak showing in 2QFY24 due to the festive season. All in, it has guided
for sustained profitability in FY24 driven by closure of non-performing businesses and efficiency gain through inventory optimisation efforts. We maintain our forecasts, TP of RM0.34 and UNDERPERFORM call. The group expects its Practice Note 17 (PN17) status to be lifted in 3QCY25.

Analyst:
Raymond Choo Ping Khoon
pkchoo@kenanga.com.my

$PHARMA / 7081 (PHARMANIAGA BERHAD)
Research by Kenanga
UNDERPERFORM – TP RM0.34

"1HFY24 Inline but PN17 Stays”

PHARMA’s 1HFY24 results met our forecast. Its 1HFY24 core net profit jumped almost 5-fold on improved sales, efficiency gains and cessation of non-core units. We maintain our forecasts, TP of RM0.34 and UNDERPERFORM call. The stock remains under Practice Note 17 (PN17) status.

Analyst:
Raymond Choo Ping Khoon
pkchoo@kenanga.com.my

$PHARMA / 7081 (PHARMANIAGA BERHAD)

Will there be more companies like $FFB / 5306 (FARM FRESH BERHAD) in the future?

Malaysia’s six major government-linked investment companies (GLICs)—Khazanah Nasional Bhd, EPF, KWAP, PNB, Lembaga Tabung Haji, and LTAT—have collectively committed RM120 billion in direct domestic investments over the next five years under a Finance Ministry-led initiative called GEAR-uP. Here's where each GLIC plans to focus their investments:

- Khazanah: Focuses on “A Nation That Creates” strategy, aiming to boost the country’s productivity and competitiveness by transforming firms for energy transition, digitalization, and enhancing Malaysia's connectivity through its aviation portfolio.

- KWAP: Strengthens Malaysia’s private market, focusing on private equity, infrastructure, and real estate. KWAP will also provide catalyst funding for venture capital and growth-stage firms, especially in sectors like food security and the digital economy.

- PNB: Modernizes industries in Malaysia by emphasizing high value-added and sustainable activities, such as new industrial parks, automation, smart agriculture in palm oil, green assets, and energy transition.

- EPF: Invests in sustainable healthcare through public-private partnerships, including the construction of a private wing in public hospitals.

- Tabung Haji: Expands the role of Islamic banks and strengthens the Islamic financial system through strategic cooperation with key industry players.

- LTAT: Enhances the value creation in Malaysia's pharmaceutical industry by expanding local biopharmaceutical production capacity, despite $PHARMA / 7081 (PHARMANIAGA BERHAD) still facing challenges and falling into PN17. 😂

Each GLIC has its focus area, and this time some GLIC will invest in private companies, rather than only emphasis on listed firms. If this program succeeds, could we see more private companies growing and eventually listing on the stock market, like $FFB / 5306 (FARM FRESH BERHAD)?

Farm Fresh is a prime example of success, with Khazanah backing it when it was still a small company. Today, it boasts a market cap exceeding RM2 billion and even surpassed RM3 billion during its peak.

PRACTICE NOTE 17 / GUIDANCE NOTE 3 : MONTHLY ANNOUNCEMENT

$PHARMA / 7081 (PHARMANIAGA BERHAD)
Research by Kenanga
Underperform - TP RM0.34

"Sustained Profitability After 1Q Spike"

PHARMA guided for sustained profitability (after an earnings spike in 1QFY24) with moderate orders for medical supplies under
the concession, impact from a price hike in 1QFY24 and better inventory management. We maintain our forecasts, TP of RM0.34
and UNDERPERFORM call. The stock remains under Practice Note 17 (PN17) status.

Analyst:
Raymond Choo Ping Khoon
pkchoo@kenanga.com.my

Practice Note 17 flagged Pharmaniaga Bhd has introduced a strategic plan, dubbed Vision 525, which is aimed at achieving the company’s goals through actionable and measurable objectives.

PHARMANIAGA RE-EMERGES STRONGER AFTER A YEAR OF CHALLENGES

website: https://cutt.ly/yeijaewT
FB: https://cutt.ly/Oeijaejd

Bursa Announcement Link:
https://cutt.ly/oeijareP

Pharmaniaga Berhad $PHARMA / 7081 (PHARMANIAGA BERHAD)

KUALA LUMPUR: Pharmaniaga Bhd will continue to improve operational efficiency and stringent cost control measures to be resilient and re-emerged stronger amid its challenging financial situation.

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General Meetings: Outcome of Meeting

PRACTICE NOTE 17 / GUIDANCE NOTE 3 : MONTHLY ANNOUNCEMENT

KUALA LUMPUR: Former Pharmaniaga Bhd chief executive officer Datuk Zulkarnain Md Eusope will likely assume his new role as CEO of Boustead Plantations Bhd (BPlant) this week.

© New Straits Times Press (M) Bhd

$PHARMA / 7081 (PHARMANIAGA BERHAD)
Research by Kenanga
Underperform – TP RM0.34

“Sustained Profitability After 1Q Spike"

PHARMA guided for sustained profitability (after an earnings spike in 1QFY24) with moderate orders for medical supplies under the concession, impact from a price hike in 1QFY24 and better inventory management. We maintain our forecasts, TP of RM0.34 and UNDERPERFORM call. The stock remains under Practice Note 17 (PN17) status.

Analyst:
Raymond Choo Ping Khoon
pkchoo@kenanga.com.my

$PHARMA / 7081 (PHARMANIAGA BERHAD)
Research by Kenanga
Underperform – TP of MYR 0.34

“Returns to the Black but PN17 Stays”

PHARMA’s 1QFY24 results beat our forecast. Its 1QFY24 core net profit jumped almost 10-fold on improved sales, efficiency gains and cessation of non-core units. We raise our FY24-25F net profit forecasts by 13% and 5%, respectively, lift our TP by 9% to RM0.34 (from RM0.31) but maintain our UNDERPERFORM call. The stock remains under Practice Note 17 (PN17) status.

Analyst(s):
Raymond Choo Ping Khoon
pkchoo@kenanga.com.my

$PHARMA / 7081 (PHARMANIAGA BERHAD)

PETALING JAYA: Pharmaceutical player Pharmaniaga Bhd is poised for a promising outset in 2024 on the back of comprehensive restructuring of operations and implementation of strategies under the groups’ strategic plan of Vision 525, says executive director Zulkifli Jafar.

PHARMANIAGA SOARS IN Q1 FY2024, PAT SURGES 10-FOLD

website: https://cutt.ly/heyW23TR
FB: https://cutt.ly/ieyW23Fq

Bursa Announcement Link:
https://cutt.ly/DeyW28i2

Pharmaniaga Berhad $PHARMA / 7081 (PHARMANIAGA BERHAD)

Pharmaniaga Berhad
Q1 FY2024 RESULTS

$PHARMA / 7081 (PHARMANIAGA BERHAD)

KUALA LUMPUR: Pharmaniaga Bhd’s first quarter ended Mar 31, 2024 (Q1 2024) net profit increased almost nine-fold to RM25.65 million from RM2.65 million a year ago, on higher sales from government hospitals and it's Indonesia business. 

© New Straits Times Press (M) Bhd

KUALA LUMPUR: Pharmaniaga Bhd is poised for a promising outset in 2024, following a comprehensive restructuring of business operations, said executive director Zulkifli Jaafar.

Quarterly rpt on consolidated results for the financial period ended 31/03/2024