Posted by BobAxelrod33 > 2023-04-12 11:02 | Report Abuse

It seems improbable that MOH would renew their Contracts when they expires in June 2023.......Besides, they have lost Bankers' support and most probably their Credit Lines, coupled with Suppliers are hesitant to allow more Credits, given the difficulty for payments and the delays.....

TAYOR

Posted by Cipta > 2023-04-12 14:54 | Report Abuse

I predict MOH will extend contract for another 2 years to avoid supply interruption to GH. It is also help LTAT to answer pensioned soldiers with a not so bad result. One of the good news is Bstead is near to success to privatization and hence can back Pharma for financing as guarantor without hassle.

Posted by 8dragon > 2023-04-14 16:05 | Report Abuse

0.25 cents or its gone case....

Posted by youarewelcome88 > 2023-04-15 14:23 | Report Abuse

Yes, I too believe its a gone case. I am sorry to say this. Come next month when the suppliers received partial payment or none, it's operations will start to crumble. I doubt they have reasonable fund for its working capital. I hope I am proven wrong.

Posted by Cryptolover > 2023-04-18 14:03 | Report Abuse

a new goreng counter has joined the chat?

Posted by BobAxelrod33 > 2023-04-18 14:58 | Report Abuse

MOH set to extend Pharma Concession, details still unknown yet. But it's still not out of the woods.....Debts challenges and Bankers' Credit lines woes.

Posted by pinetree88 > 2023-04-18 15:24 | Report Abuse

Covid cases are going up globally again. Maybe Pharma can clear more vaccine stock out for profit as stock already written down to zero value? Got in at $0.345.

Posted by BobAxelrod33 > 2023-04-18 15:26 | Report Abuse

How naive....a sweet little child you are....hahahaha

Posted by pinetree88 > 2023-04-18 15:54 | Report Abuse

Just for 1 wk short term trading, not for investment. The recent covid surge may have bumped up Glove stocks in last 2 wks so the same may happen for vaccine stocks too.

Posted by pinetree88 > 2023-04-18 15:58 | Report Abuse

Pharma today is up with high vol for first day only since 5/4 and already formed a higher low. A break above 0.355 should be positive to target 0.40 followed by 0.44 major resistance to close the gap.

Posted by BobAxelrod33 > 2023-04-18 15:59 | Report Abuse

Hmmmm...what do they use pinewood for?.....furniture?......and coffins??

Posted by pinetree88 > 2023-04-18 16:20 | Report Abuse

Now 0.355 at buyer price liao.

Posted by pinetree88 > 2023-04-18 16:38 | Report Abuse

Missed to add at 0.355 and now 0.37 liao. May add at matching and bet on tmr 2nd day run up.

Posted by pinetree88 > 2023-04-18 16:50 | Report Abuse

Nice... closed at 0.375.

Posted by RWG > 2023-04-18 16:53 | Report Abuse

phamaniaga have good news soon

Posted by RWG > 2023-04-18 16:53 | Report Abuse

phamaniaga have good news soon

Posted by Lim Elson > 2023-04-18 16:55 | Report Abuse

WHACK

Posted by Alipapapa > 2023-04-18 16:55 | Report Abuse

Dr Zaliha confirms 10-year extension medical supply deal with Pharmaniaga

savemalaysia
Publish date: Tue, 18 Apr 2023, 04:54 PM
KUALA LUMPUR, April 18 — The Health Ministry today confirmed it is extending a logistics and distribution concession with Pharmaniaga Berhad to supply the government with medicine for 10 more years.

The local pharmaceutical company was previously given a conditional agreement for 10 years in January last year, which was subject to terms and conditions that were initially supposed to be finalised before last December 31.

The deadline was then extended to June this year.

“We really need them and it is our responsibility to try and help them since it’s a GLC,” Health Minister Dr Zaliha Mustafa said, using the initials for government-linked company.

Pharmaniaga was previously under the financially troubled PN17 category on Bursa Malaysia after posting RM607.32 million for the financial year that ended December 31, 2022 against a net profit of RM172.15 million in 2021.

The company had attributed it to the RM552 million provision for “slow-moving stocks of Covid-19 vaccines”.

Dr Zaliha was speaking at Zecon Hotel in Cheras after attending a town hall session on a proposed Health White Paper.

She also advised the public to return expired or unused medical drugs to any hospital instead of throwing them away indiscriminately as they could harm the environment.

She said it will incur extra cost for the government if medicines are not disposed of properly.

“The incurred cost for this will be around RM2,000 to RM3,000.

“In MOH we have a system to dispose of drugs properly. There is a Pharmacy Department that acts on the matter,” she said.



https://www.malaymail.com/news/malaysia/2023/04/18/dr-zaliha-confirms-10-year-extension-medical-supply-deal-with-pharmaniaga/65348

Posted by pinetree88 > 2023-04-18 17:10 | Report Abuse

“We really need them and it is our responsibility to try and help them since it’s a GLC,” Health Minister Dr Zaliha Mustafa said, using the initials for government-linked company.

That means govt will not let it fail and his statement should be a booster shot in the arm (share price) for Pharma.

Posted by Michael Kwok > 2023-04-18 17:14 | Report Abuse

Please read.im right.it go pass 35 cents and close at 37.5 cents.pass resistance the first time and go back below.it supported at 28 cents.tht the chance.boom it went to 37.5 cents today.
18/4/23 5.15pm
Price 29
Resistance:29.5cents
Support: 28.0 cents
Breach resistance 35 cents
15/3/23 4.44pm

Posted by youarewelcome88 > 2023-04-18 20:03 | Report Abuse

The 10 years concession extension is the only superficial lifeline they have to show currently. The hard truth is the company needs strong financial muscles to remain a going-concern entity. Is a Rights Issue, loan stock or bonds in the pipeline? Getting the extension will see the long journey to recovery. Price-wise is anyone's guess.

Posted by Yu_and_Mee > 2023-04-18 20:17 | Report Abuse

right issue?

Posted by RWG > 2023-04-18 21:29 | Report Abuse

i hate right issue

Posted by youarewelcome88 > 2023-04-18 22:39 | Report Abuse

@RWG...Pharmaniaga is over-geared. See its Losses & Short-term financial obligations against its capital. Not forgetting it is also starring at another 1.16 millions of its vaccine expiring soon. Pharmaniaga too faces constraints to further borrowings due to BNM's rules. I would say the ultimate shareholder LTAT too hate rights issue.

Posted by willc48 > 2023-04-19 01:47 | Report Abuse

KJ no more. Where got favour from govt anymore?

Posted by mary123 > 2023-04-19 09:10 | Report Abuse

yes, all sell pls!

Posted by Pacbut286 > 2023-04-19 09:29 | Report Abuse

Pharmaniaga concession agreement extended, confirms minister

Posted by pinetree88 > 2023-04-19 09:42 | Report Abuse

Sold at $0.42. Actually target 0.44 but decided not to risk n wait.

Posted by youarewelcome88 > 2023-04-19 09:55 | Report Abuse

@pinetree88... You are a good & bold trader. Cheers

Posted by software guy > 2023-04-19 09:57 | Report Abuse

@chowwei can get back some money.

Posted by thundery > 2023-04-19 10:54 | Report Abuse

Best time to sell

Posted by EatCoconutCanWin > 2023-04-19 11:00 | Report Abuse

Menteri tak guna, buat aper extension, company sudah mau bangkrap lagi kasi . Otak aper.

Posted by Cipta > 2023-04-19 11:11 | Report Abuse

As i had mentioned months b4, extension of contract is the cheapest way of gov bail out. It is just a piece of paper and it could raise market confident on Pharma.

If price keep raising, you may expect right issue. If price keep pressing low, you may expect privation but it is highly unlikely.

Posted by rulethemarket > 2023-04-19 11:24 | Report Abuse

Its just a pity. Despite having LTAT as shareholder and government orders, still ended up in PN17. Its really a mismanagement.

Posted by Cipta > 2023-04-19 12:11 | Report Abuse

You know who was the president and MD at that time...

Posted by Bon888 > 2023-04-19 14:02 |

Post removed.Why?

Posted by pinetree88 > 2023-04-19 15:00 | Report Abuse

Major resistance at 0,44. Many stucked before the impairment bad news will be eager to sell around there. Current price hard to trade already.

Posted by alenac > 2023-04-19 16:42 | Report Abuse

Whatever it is, the rights issue will happen as the company lacks working capital. Shareholders' funds are negative.
Any more stocks of vaccines to write off going forward?
0 seconds ago

Posted by Pacbut286 > 2023-04-19 16:50 | Report Abuse

0.50 will not be far. dare to wait since goverment will be bail out this company.

Posted by BobAxelrod > 2023-04-19 16:57 | Report Abuse

Seems like some party made some Raya ang pau with just an A4 paper and a little News....

Those stuck at 42c to 43c........are toasts.........LOL!

Posted by Bon888 > 2023-04-19 19:07 |

Post removed.Why?

Posted by Cipta > 2023-04-19 19:39 | Report Abuse

This is forum where everyone can express pro n con. Prove your point here, not ask other to shut up when some1 is sharing his point of view. We all are adult know how to behave.

Posted by BobAxelrod > 2023-04-19 19:48 | Report Abuse

U-Turn after Raya??...........


https://www.freemalaysiatoday.com/category/nation/2023/04/19/extension-for-pharmaniaga-leaves-health-system-vulnerable-says-think-tank/

Posted by BobAxelrod > 2023-04-19 19:51 | Report Abuse

From their Books, Pharma has enough Cash in Hand to settle their Debts of nearly RM 1 Billion which is due in less than 5 months?

And at same time, settle their outstanding and delayed payments to Suppliers???

Looks like time is running out fast, a decision on where the help is coming from is vital.....

Posted by Cipta > 2023-04-19 22:11 | Report Abuse

i would like to comment sikit on the "think tank" comment in FMT link sent by Bob above. Pharma did excellent for the past twenty years to supply medi etc to GH. For the past ten years when it is relist in Bursa, it is profit and gave out good dividend. It incurs heavy lost and supply poor quality equipment happen under the previous president and MD who were appointed during PN regime. We should not condemn and conclude Pharma model is a bad practice for two bad years. What we must look into is the appointment of top gun in GLC. How you appointed a person from Energy sector to manage a pharmaceutical co?

Posted by Vicky > 2023-04-19 22:57 | Report Abuse

https://www.klsescreener.com/v2/news/view/1142507

Posted by Vicky > 2023-04-19 22:57 | Report Abuse

https://www.klsescreener.com/v2/news/view/1142507..

Posted by Vicky > 2023-04-19 22:58 | Report Abuse

Time to free Malaysia from depending on Pharmaniaga alone. Healthcare is vulnerable

Posted by youarewelcome88 > 2023-04-19 23:23 | Report Abuse

By taking Boustead private & the sale of Affin Bank to the Sarawak state government , I believe LTAT have resorted to Fire Sale of its assets to trim the debt level at both Boustead & Pharmaniaga. Don't be surprised if the proceed from the fire sales will be used to re-capitalise both the companies. More fire sales will be in progress but don't expect to read about it, especially now that Boustead is going private.

Posted by Cipta > 2023-04-19 23:26 | Report Abuse

Who said Malaysia is depending solely on Pharmaniaga? Who said our healthcare is vulnerable because of Pharmaniaga? Only one: Galen Centre amnya and Azrul Mohd Khalib secara khususnya. Do you know who is Galen Centre?