Author name: admin

Pharmaniaga Bhd has won a RM281.7 million government contract to supply human insulin to public hospitals over three years, making it Malaysia’s first local producer of the drug. The insulin will be manufactured at Pharmaniaga’s Puchong facility under its unit, Pharmaniaga Lifescience Sdn Bhd, according to the government procurement portal. The deal positions Pharmaniaga as likely the largest supplier of human insulin to government hospitals, stepping in after a shortage caused by production issues at Biocon and Novo Nordisk’s exit from the market. The Puchong plant can produce up to 30 million doses annually, and sources estimate Pharmaniaga will supply roughly 50–60% of the government’s insulin needs under this contract. Pharmaniaga recently exited PN17 status on March 17, following a red-flag in 2023 after a RM552.3 million Covid-19 vaccine inventory impairment. Separately, Duopharma Biotech Bhd may secure a new three-year contract to supply human insulin under a dual-supplier arrangement with Pharmaniaga, with its current interim extension expiring on May 15. Human insulin is expected to contribute 9–11% of Duopharma’s revenue in 2026.

Golden Destinations Group Bhd, an outbound travel package provider preparing for an ACE Market listing, has been assigned a fair value of 50 sen by Public Investment Bank, suggesting an 11.1% upside from its IPO price of 45 sen. In a note on Wednesday, PublicInvest said the valuation was based on a 15‑times price-to-earnings multiple of GDGROUP’s projected FY2027 earnings, reflecting a discount to the FTSE Bursa Malaysia Consumer Products Index to account for lower liquidity as an ACE Market stock. The group, known for its flagship Golden Destinations brand, operates mainly as a B2B travel wholesaler, offering ready-to-sell overseas travel packages to a network of 848 licensed travel agents nationwide. Its portfolio includes over 2,500 travel packages and 293 cruise products across 84 countries. Unlike direct-to-consumer platforms, GDGROUP focuses on product development and service delivery while leveraging its travel agent network for distribution. PublicInvest highlighted that the company is well-positioned to benefit from the rebound in Malaysia’s outbound tourism, with total spending reaching RM30.3 billion in 2024, supported by improving international mobility and higher disposable income. Financially, GDGROUP recorded RM592.4 million in revenue for FY2025, up from RM157 million in FY2022, representing a three-year compound annual growth rate (CAGR) of 55.7%. Net profit is forecast to grow from RM27 million in FY2025 to RM34 million by FY2028, driven by stronger margins and regional expansion. The IPO, expected to raise RM90 million, will see RM50 million allocated for a new centralised headquarters in Kuala Lumpur, RM13.5 million for branding and marketing, and the remainder for expansion into Sarawak and Singapore, IT upgrades, workforce growth, and working capital. PublicInvest noted that GDGROUP’s asset-light, variable-cost model provides resilience against seasonal fluctuations and demand disruptions. However, it flagged risks including geopolitical tensions, disease outbreaks, seasonal demand swings, and rising competition from online travel platforms and AI-based trip planning tools. GDGROUP is scheduled to list on Bursa Malaysia’s ACE Market on April 16, with an enlarged market capitalisation of RM450 million based on the IPO price.

Indonesia will give some listed companies up to three years to raise their public float to at least 15%, as part of ongoing reforms to improve transparency and market liquidity. The Indonesia Stock Exchange (IDX) said companies with a market value under 5 trillion rupiah (US$295 million/RM1.2 billion) must meet the minimum public float requirement by March 31, 2029. Firms valued above 5 trillion rupiah with a free float below 12.5% must first reach 12.5% by March 31, 2027, then 15% a year later. Companies with free floats already between 12.5% and 15% must hit 15% by March 31, 2027. The new rules follow months of consultation as Indonesian authorities aim to avoid a potential MSCI market downgrade, which earlier raised concerns about investability and triggered a sharp market selloff. “We see this as a constructive move,” said Felix Darmawan, analyst at PT BCA Sekuritas. “The timeline strikes a balance — giving companies time to adjust while enhancing liquidity and broader investor participation.” The IDX has also increased the minimum float for IPOs to 15–25%, depending on company size, up from the previous 10–20% range.

TCL Electronics Holdings Ltd has agreed to acquire a majority stake in Sony Group Corp’s global home entertainment business, strengthening the Chinese company’s push to expand overseas. Sony has focused on expanding its portfolio of intellectual property assets — anime, live-action film, music and sports broadcasts — while trimming consumer electronics. Under the deal, TCL will pay 75.4 billion yen for a 51% stake in a newly formed joint venture that will house Sony’s home entertainment operations, including Bravia televisions. Sony will retain the remaining 49% stake. The business covers research and development, design, manufacturing, product sales, as well as home audio equipment, according to a statement released Tuesday. As part of the strategic partnership, TCL will also acquire Sony’s manufacturing subsidiary, Sony EMCS (Malaysia) Sdn Bhd (SOEM). The company added that discussions are ongoing regarding a potential acquisition of all or part of Sony’s China-based manufacturing unit, Shanghai Suoguang Visual Products Co (SSVE). The enterprise value of the businesses included in the joint venture and the SOEM unit, excluding the SSVE operations, stands at 102.8 billion yen. The final purchase price will be subject to adjustments for net debt and working capital upon completion. The collaboration reflects Sony’s continued shift toward expanding its intellectual property portfolio — including anime, films, music and sports broadcasting — while scaling back certain consumer electronics operations. Meanwhile, TCL, one of China’s largest electronics manufacturers, has been pursuing international growth and aims to strengthen its presence in the global television market. The two companies first announced plans in January to establish a joint venture for Sony’s home entertainment business. The venture is expected to begin operations in April 2027, producing televisions under the Sony and Bravia brands while utilising TCL’s display technology. Following the announcement, TCL shares surged nearly 13% on Wednesday morning, bringing its year-to-date gain to about 38% and valuing the company at approximately US$4.6 billion. Sony’s shares also rose as much as 5.3% in Tokyo, trimming its losses for 2026 and giving the group a market capitalisation of around US$131 billion.