PETALING JAYA: Pharmaniaga Bhd’s wholly owned subsidiary Pharmaniaga Logistics Sdn Bhd (PLSB) has bagged a new contract from the Health Ministry (MoH) to provide medical supply logistics services for seven years.
In a filing with Bursa Malaysia today, the pharmaceutical group said the contract is from July 1, 2023 to June 30, 2030.
The award comes following the end of a previous contract which had commenced on Dec 1, 2019.
However, the contract sum was not disclosed.
While MOH and PLSB finalise the terms of the new medical supply logistics services agreement, PLSB will continue to support and render its services to MoH based on the agreed terms, the filing added.
Pharmaniaga was classified as a Practice Note 17 (PN17) company in February this year after it posted a net loss of RM664.39 million in the fourth quarter of FY2022, and had to make provisions amounting to RM552.3 million on unsold Covid-19 vaccines in stock.
In early June, the group outlined a strategic plan to address the challenges presented by its PN17 status with a “strong focus on financial recalibration” and a resolute commitment to overcome obstacles.
It said it has charted a path towards a “resilient recovery” across its business segments.
Pharmaniaga’s shares closed 3 sen or 8.45% higher at 38 sen today, giving it a market capitalisation of RM504.4 million. - FMT
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