Pharmaniaga Acquires Penang Property For RM30 Mln

KUALA LUMPUR, Sept 19 (Bernama) -- Pharmaniaga Bhd's wholly-owned unit, Pharmaniaga Logistics Sdn Bhd has entered into a sale and purchase agreement (SPA) with N H Development Sdn Bhd to acquire a property in Seberang Perai Selatan, Penang for RM30 million.

In a Bursa Malaysia filing today, the pharmaceutical company said the property comprises a single-storey detached factory with a double-storey office building on 1.09 hectares (2.70 acres) freehold land.

The acquisition is in line with its obligation under the concession agreement (CA) signed with the Health Ministry on Jan 3, 2023.

“The acquisition is also consistent with the company’s expansion strategy to enhance its logistics and distribution capacity, particularly in the northern region of Peninsular Malaysia to improve efficiency in serving customers and supporting future business growth,” it said.

Pharmaniaga said the SPA is not expected to have any material effect on the group’s earnings and earnings per share for the financial year ending Dec 31, 2025.

-- BERNAMA