Pharmaniaga Berhad announced that Bursa Malaysia has approved the Group's Regularisation Plan which will see the group looking towards its financial recovery.
Pharmaniaga Managing Director, Zulkilfli Jafar said, "The approval from Bursa Malaysia paves the way for Pharmaniaga to implement its comprehensive RP, designed to strengthen the Group's financial position, enhance operational efficiencies, and secure long-term growth."
"With this latest development, we are now fully focused on executing the RP and achieving a swift exit from PN17," he said.
The RP outlines strategic initiatives aimed at financial restructuring, business optimisation and strengthening Pharmaniaga's core operations. It represents a proactive approach that will initiate rights issuance to provide the Group's shareholders with an opportunity to reinforce their investments; private placement exercise aimed at drawing potential strategic investors to contribute to the Group's value enhancement and growth in the healthcare sector; and a capital reduction process to adjust the Group's share capital.
Zulkifli further added, "The Group assures its stakeholders, including customers, investors, and business partners, that we remain committed to maintaining the highest standards of service and product quality throughout this period of transformation."
