During the 26th Annual General Meeting ( AGM ) held in Petaling Jaya , the company highlighted its strategic initiatives and future plans under its Vision 525 strategy .

Pharmaniaga ’ s Profit After Zakat and Taxation ( PAT ) soared nearly tenfold to RM26.2 million for Q1 FY2024 , up from RM2.8 million in the same period last year . The Earnings Before Interest , Taxation , Depreciation , and Amortisation ( EBITDA ) also doubled , reaching RM66.5 million compared to RM32.5 million in Q1 FY2023 . This substantial growth was driven by increased demand across the Group ’ s Logistics and Distribution Division , as well as its Indonesia Division .

• Logistics and Distribution Division : PAT increased to RM18.9 million from RM5.2 million in the previous year , primarily due to higher revenue from the concession business , new product introductions to the Ministry of Health ' s ( MoH ' s ) Approved Product Purchase List , and price revisions under the new concession agreement .

• Manufacturing Division : PAT rose

THE ONGOING saga within the founding family of Supermax Corp Berhad ( Supermax ) took another twist after co-founder Stanley Thai said he would resist efforts to dissolve the glove maker ' s holding company , Supermax Holdings Sdn Bhd ( SHSB ). SHSB is their private vehicle and has a 40.3 per cent stake in Supermax .

Thai ’ s wife , Cheryl Tan Bee Geok , who owns 42.5 per cent of SHSB compared to Thai ’ s 57.5 per cent , has reportedly filed a winding-up petition against SHSB to gain direct ownership of Supermax shares instead of indirect ownership through SHSB , their private entity .

Thai and his wife founded Supermax in 1987 . Thai said SHSB was set up to establish a family trust for their three children and their future generations , and hence would “ resist any application to wind up SHSB ”.

The holding company was set up at the height of the Covid-19 pandemic in December 2020 with the couple transferring all their shares in Supermax into SHSB .

Thai said that given they were both in their 60s , it made perfect sense to have a family trust . “ When we both die , neither one of us will bring ( along ) this wealth or any tangible assets ,” Thai said .

Based on a price of 80 sen , the couple ' s joint 40.3 per cent stake in the company amounts

to RM6.2 million , a significant jump from RM0.2 million last year , fueled by new tenders from the Ministry of Health , increased demand , and enhanced manufacturing efficiency .

• Indonesia Division : PAT improved to RM1.1 million from RM0.02 million , bolstered by higher demand for products from existing principals and additional sales from two new distribution branches in Purwakarta and Mataram . Pharmaniaga ’ s recovery and future growth are anchored by its Vision 525 strategy , introduced in 2023 .

Pharmaniaga Executive Director Zulkifli Jafar expressed confidence in the Group ’ s strategic direction . “ Despite being in the PN17 status , the Group continues to be resilient and was able to deliver such notable Q1 FY2024 results . Anchored by this performance , Pharmaniaga is poised for a promising outset in 2024 , following a comprehensive restructuring of business operations and implementation of numerous strategies and initiatives under Vision 525 .”

The extension of the concession agreement with the MoH for seven years , the establishment of manufacturing facilities for vaccines and insulin , and the opening of new distribution centres in Indonesia are among the key achievements highlighted during the AGM .

Pharmaniaga Chairman Izaddeen

Cheryl Tan Bee Geok

Daud added : “ Our commitment to fiscal discipline fuels our focus on efficiency , cost optimisation , margin , and revenue growth . Through strategic initiatives , we are solidifying our foundation for long-term success , ensuring resilience and adaptability in the evolving pharmaceutical industry .”

During the AGM , all resolutions set out in the Notice of AGM dated May 3 , 2024 were approved by the shareholders , reinforcing the Group ’ s commitment to its strategic goals and financial health .

Pharmaniaga ’ s performance in Q1 FY2024 underscores its recovery trajectory and resilience , driven by improved operational capabilities and stringent cost control measures . The Group remains focused on exiting the PN17 status and achieving sustainable business growth , in line with its Vision 525 strategic plan .

Stanley Thai

to RM878.5 million .

Last year , their daughter , Cecile Jaclyn Thai , resigned as a non-executive director , citing governance concerns and clashes with the board , including disagreements with her father . Cecile ’ s resignation shed light on issues surrounding corporate governance and transparency within Supermax , echoing previous disputes within the family regarding financial decisions and governance practices .

Supermax ’ s financial performance further compounds the family ' s challenges , with consecutive quarterly losses attributed to weakened demand post-pandemic and intensified competition from Chinese manufacturers .

IHH Healthcare Berhad , a leading global healthcare conglomerate , is looking to maintain its double-digit growth trajectory in 2024 , prioritising organic and inorganic expansion , fostering public-private partnerships and expanding its continuum of care through the establishment of ambulatory care centres ( ACCs ).

With its major shareholders including Khazanah Nasional Bhd , Employees Provident Fund , and Retirement Fund Inc , IHH Healthcare reported robust financial performance in fiscal year 2023 , with a 15 per cent increase in earnings before interest , taxes , depreciation , and amortisation ( EBITDA ) to RM4.8 billion , alongside a 17 per cent surge in revenue to RM21.3 billion .

The company has a network of 80 hospitals in 10 countries . Group Chief Executive Officer Dr Prem Kumar Nair ( Pic ) emphasised a strategic approach tailored to specific markets over a five-year horizon , aiming to add 4,000 beds to its network .

“ We chose this timeframe due to the variable speed of regulatory processes across different countries . While some may move faster , others may be slower ,” he said .

In 2024 , this means increasing 160 beds in Malaysia , 240 beds in India and 40 beds in Hong Kong . IHH Healthcare owns three hospital brands in Malaysia : Pantai Hospital , Gleneagles and Prince Court Medical Centre .

In line with its commitment to comprehensive care , IHH Healthcare is intensifying its focus on ambulatory care , exemplified by its expansion efforts in Hong Kong and Singapore .

Dr Prem underscored the significance of this continuum , noting the global trend towards community-based care and outpatient procedures , mirroring developments in advanced economies like the United States .

“ For instance , procedures like total knee replacements , typically conducted as inpatient surgeries in many countries , are now performed on an outpatient basis in ambulatory centres in the US . Patients undergo surgery in the morning and return home the same day .”

An ambulatory surgical centre accommodates patients for less than 24 hours , with patients typically discharged at the end of the day .

Dr Prem explained that the shift now was for procedures such as total knee replacements , where patients require physiotherapy , to transition to community-based care .

“ This shift enables patients to receive follow-up care at home , including assistance from nurse physiotherapists for walking exercises with a walker .

“ In the US , many procedures are now safely performed in ambulatory surgical centres , a trend also observed in Singapore , Hong Kong and other advanced economies ,” he said .