March-April . 2024 | The HEALTH

Duopharma Biotech Group Managing Director Leonard Arif Abdul Shatar said : “ The increase in revenue was contributed by sales growth in the prescription pharmaceutical market , ethical speciality sector and export segment from the previous year .

“ However , this is dampened by the significant downturn in the consumer healthcare sector . Further challenges include prolonged increase in operational costs , which included increased electricity tariff , higher finance costs ; incremental costs associated with the commencement of production in the new K3 facility ; and unfavourable exchange rates , among others .”

Despite these challenges , Leonard Arif expressed optimism for the future , citing the substantial allocation for healthcare in the 2024 budget and pending supply agreements with Pharmaniaga Logistics Sdn Bhd as factors indicating a promising outlook for 2024 .

In the fourth quarter ending Dec 31 , 2023 , earnings per share amounted to 0.88 sen ,

“ The increase in revenue was contributed by sales growth in the prescription pharmaceutical market , ethical speciality sector and export segment from the previous year .

– Leonard Arif Abdul Shatar

bringing the total earnings per share for FYE2023 to 5.49 sen . The company declared a second interim dividend of 1.8 sen per share , equivalent to RM17.32 million , with entitlement and payment dates set for Mar 8 and Mar 21 , 2024 , respectively .

Throughout 2023 , Duopharma Biotech engaged in strategic collaborations , including partnering with RenalWorks Malaysia Sdn Bhd to introduce RenalGenie EHR dialysis software in Malaysia , aiming to improve dialysis services through enhanced data management and patient care . Additionally , a partnership with Tepanouits Pty Ltd was established to introduce the IRORO Nutreatment Healthy Hair Growth range to Australia , catering to the rising demand for anti-hair loss solutions in the Australian wellness sector .

Duopharma Biotech ’ s excellence and commitment to halal principles were recognised with a top-three position at the Top 30 OIC Halal Products Companies 2023 , affirming its impact on the global halal market . The company also received the Gold Award at The Edge Malaysia ESG Awards 2023 and dual accolades at the UN Global Compact Network Malaysia & Brunei ( UNGCMYB ) Forward Faster Sustainability Awards 2023 , highlighting its dedication to environmental , social , and governance practices and reinforcing its leadership in the healthcare industry .

FWD Group Holdings Limited ( FWD Group ), a prominent insurance provider , has finalised an additional investment to acquire a further 21 per cent stake in FWD Takaful Berhad ( FWD Takaful ), solidifying its position as the majority shareholder .

FWD Group is now the majority shareholder in FWD Takaful , with a 70 per cent holding . The Employees Provident Fund holds the remaining 30 per cent . Notably , JAB Capital Berhad has exited its shareholder position post-transaction .

FWD Group Managing Director Binayak Dutta said : “ We are delighted to increase our investment in FWD Takaful , after first entering the Malaysian market five years ago . Our commitment to changing the way people feel about takaful in Malaysia is all about building our presence in the local community over the long term .”

FWD Takaful offers a diverse family takaful product lineup in Malaysia , including coverage for term life , critical illnesses , cancer , hospital cash benefits , and medical protection .

“ With the continued commitment of FWD Group over the years to its development in Malaysia , we ’ ve created a full-service offering to provide both family takaful and life insurance solutions in a rapidly growing market with long-term potential ,” he added .

Malaysia is Southeast Asia ’ s fourth-largest life insurance market by premium , characterised by a low insurance penetration rate of less than five per cent , coupled with robust macroeconomic fundamentals and favourable demographics .

FWD Group initially entered the Malaysian market in 2019 with the acquisition of a 49 per cent stake in FWD Takaful , followed by the establishment of its regional technology and innovation hub in Kuala Lumpur later that year . In 2023 , FWD Group expanded its presence by establishing FWD Insurance Berhad , offering family takaful and life insurance solutions .

The Southeast Asia region holds strategic significance for FWD Group , with a substantial portion of its new business value originating from its operations in the area . Based on annual premium equivalents , FWD Group ranks among the top insurers and bancassurers in Southeast Asia markets .

THE Malaysia Lysosomal Diseases Association ( MLDA ) unveiled its latest initiative on Feb 29 , 2024 . It worked with the creative talents of Fusion Wayang Kulit to draw attention to the challenges faced by individuals with lysosomal storage diseases ( LSDs ) and to raise funds for their treatment .

LSDs are rare metabolic disorders that primarily affect children , impacting their growth and development . Symptoms are often vague , affecting multiple organs or resembling more common ailments , leading to diagnostic delays exacerbated by the scarcity of rare disease specialists in Malaysia .

Accessing treatment poses another hurdle . Enzyme Replacement Therapy ( ERT ), crucial for managing LSDs , incurs significant costs , exceeding RM500,000 annually , and may rise further depending on the disease and patient needs . With limited government funding , patients rely on diverse financial sources , compounded by expenses for supportive therapies like physical therapy and pain management .

MLDA President Lee Yee Seng said : “ MLDA serves as a voice for patients with LSD as they , together with their families and caregivers , have limited information and resources to cope with managing these conditions . Few people understand the challenges of raising a child with LSD or how symptoms can severely affect a patient ’ s independence and quality of life .

“ Treatment with ERT is essential to

keep their condition from worsening , relieve symptoms and prolong their lifespan . However , the cost is prohibitive for the average patient . This is why we are determined to raise awareness about these conditions and help provide financial support through sponsorships and fund-raising efforts like these .”

This year , MLDA in collaboration with Fusion Wayang Kulit led by Tintoy Chuo , embarked on a pioneering project to narrate patient-inspired stories through shadow play , blending tradition with modernity . Each narrative portrays different aspects of patients ’ struggles , from social isolation to financial burdens , aiming to resonate with Malaysians and garner support for MLDA ’ s mission .

“ MLDA is a non-profit organisation , and we welcome any form of assistance , from donations to volunteers . Please help us to spread the news of this campaign to everyone you know that we may continue to raise awareness and advocate for access to treatment on behalf of all patients with LSDs ,” shared Lee .