Im so glad that this culprit is no longer in Pharmaniaga. Have you guys tried to read about his scandal and 9bio? From a reliable source confirming Ekovest Berhad in control of 9Bio project. Secured turnkey design-and-build concept being manipulated with the help of Datuk Lim Kang Hoo and assisted from inside MOH by Tan Sri Ismai Merican to inflate the estimated project cost from RM350 million to RM1.9 billion. The government originally agreed and approved only RM350 million. Imagine the amount of potential kickbacks?
Can google Ismail Merican + 9bio for more information
I also think Pharmaniaga contract will be extended as there are no alternative. Further more, major SH are government GLCs. Question is went to enter under today uncertain world economy.
The public need to understand that Pharmaniaga's role as a concessionaire and not immediately liken it to a monopoly. Shared some thoughts in this article (https://klse.i3investor.com/blogs/MYpharmaceuticalnews/228733.jsp). Though it could use a bit more context but hope this can get the conversation going.
Government will not likely to announce discontinuation last minute. That would disrupt the medicine supply chain. Either they will announce another 10 years concession or subject Pharmaniaga to annual renewal. Latter is more likely. Now everyone waits and sees. When contract announced, that would send Pharmaniaga to new high. The price has been supressed for long.
”Pharmaniaga has been the sole concessionaire providing these services and its concession will end on Nov 30.
However, to ensure that medical supplies and health services are not disrupted, Pharmaniaga's services will be extended until the Cabinet decides on the mechanism to manage the open tender”
Pharmaniaga, in collaboration with the Health Ministry, was also tasked to develop, implement and maintain the Pharmacy Information System (PhIS), a homegrown system for all government hospitals and health facilities. Completed in 2016, the system reduces wastage through optimal inventory management, lowers the risk of products being expired and minimises medication errors.
RM 1,579,231,000 of revenue comes from govt or govt related transactions. Total revenue from Malaysian operation RM 1,636,652,000.
this makes a 96% of revenue from Malaysia comes from govt.
Meanwhile another RM 694,673,000 revenue comes from Indonesia. However, it is not profitable, the profit for Indonesia operations is a mere RM 445,000.
In other words, it is effectively shutting down its operation if they lose the concession.
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Hafid
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Posted by Hafid > 2019-09-17 10:40 | Report Abuse
Need to drop to rm2.00