KUALA LUMPUR: Pharmaniaga Bhd
is eyeing new markets in ASEAN in addition to Europe to spice up its presence overseas.
Group managing director Datuk Zulkarnain Md Eusope stated the corporate is finalising collaborations with companions in Thailand on the finish of this month and seeking to conclude offers with events in Philippines by the primary half of 2022.
Pharmaniaga has additionally submitted product registration purposes in Dubai, United Arab Emirates, and European international locations resembling Portugal.
“The inhabitants in ASEAN has reached 700 million and to illustrate if we are able to safe 5 per cent of the entire inhabitants of the area, that’s equal to 35 million individuals.
‘’We are working arduous to enter these new markets in two to a few years. Hence, we now have recognized good companions to distribute our merchandise,’’ he informed reporters throughout Pharmaniaga’s digital fourth quarter monetary outcomes media briefing at present.
Pharmaniaga can also be mergers and acquisitions to assist its future development, he revealed.
It has established a powerful footprint in Indonesia since 2004 and can also be in search of methods to strengthen its presence in the market of 270 million individuals.
The Pharmaniaga chief stated COVID-19 vaccines and the Indonesian market are anticipated to stay key contributors to the corporate’s income in the fiscal yr 2022.
Demand for COVID-19 vaccines is predicted to proceed till 2025.
Pharmaniaga’s internet revenue for FY2021 surged to RM172.15 million from RM27.49 million in FY2020.
Revenue rose 77 per cent to RM4.82 billion from RM2.73 billion, largely as a result of sale of Sinovac COVID-19 vaccines to the Ministry of Health and the personal sector, adopted by stronger development from the group’s concession, non-concession, and Indonesian companies.
Group chief monetary officer Norai’ni Mohamed Ali stated the pharmaceutical firm is allocating RM295 million on capital expenditure this yr, with about RM180 million to be put aside for logistics and distribution and RM108 million for manufacturing.
About RM7.7 million is allotted for Indonesian operations.
She stated Pharmaniaga will arrange one other 5 automated warehouses with RM180 million investments in the subsequent 5 years in the Klang Valley, East Coast, and East Malaysia. – Bernama
