BURSA MALAYSIA UPLIFTS PHARMANIAGA FROM PN17 STATUS EFFECTIVE TOMORROW

KUALA LUMPUR, March 16 (Bernama) -- Bursa Malaysia said Pharmaniaga Bhd will be uplifted from its PN17 status effective 9 am tomorrow.

The bourse said in a statement today that the Practice Note 17 company has regularised its financial condition and no longer triggers any of the criteria under Paragraph 2.1 of PN17 of the Main Market Listing Requirements.

“Bursa Malaysia will continue to monitor the progress of PN17 and Guidance Note 3 (GN3) companies with regard to compliance with the Main Market and ACE Market listing requirements,” it said.

In a separate statement, Pharmaniaga managing director Datuk Zulkifli Jafar, said the group’s achievement reflects the resilience, discipline and collective commitment demonstrated across the organisation during a particularly challenging period.

He said with the PN17 status uplifted, Pharmaniaga will shift its focus towards strengthening long-term growth and expanding its strategic capabilities across the healthcare value chain.

“This marks the beginning of a new phase for Pharmaniaga as we shift from stabilising the business and strengthening our foundation to driving sustainable growth,” he said.

Moving forward, it said Pharmaniaga will continue enhancing its pharmaceutical and biopharmaceutical capabilities while deepening its presence in the regional market, working towards building a stronger and more resilient organisation for the future.

On Feb 27, 2023, Pharmaniaga was classified as a PN17 company. The group subsequently undertook a series of rejuvenation initiatives, with its remarkable recovery underpinned by consistent improvements in operational performance.

Since the quarter ended March 31, 2024 (1Q FY2024), the company has recorded eight consecutive profitable quarters, culminating in a net profit of RM48.5 million for the financial year ended Dec 31, 2025 (FY2025).

-- BERNAMA