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Izaddeen among four named as directors of Boustead Plantations

Encik Izaddeen bin Daud. Photos credit: Boustead Plantations Berhad. KUALA LUMPUR (March 11): Boustead Holdings Bhd deputy group managing director Izaddeen Daud is among four new appointments to the board of subsidiary Boustead Plantations Bhd. Izaddeen, as well as Boustead Holdings group finance director Fahmy Ismail and the group’s chief reinvention and strategy officer Ahmad Shahredzuan Mohd Shariff, have been named as non-independent non-executive directors of the plantation company. Meanwhile, Datuk Mustaffar Kamal Abdul Hamid has been appointed as an independent non-executive director, Boustead Plantations said in a statement.  The group said Izaddeen, 52, also sits on the board of Boustead Heavy Industries Corp Bhd, Pharmaniaga Bhd, Boustead Properties Bhd, UAC Bhd and Olympia Industries Bhd. 

Sime Darby Plantations, FGV, Aimflex, DNeX, Minetech, Pertama Digital, MISC, Genting Malaysia and Boustead Plantations

Sime Darby Plantations, FGV, Aimflex, DNeX, Minetech, Pertama Digital, MISC, Genting Malaysia and Boustead Plantations
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Arrival of Sinovac vaccine an important milestone for Pharmaniaga s vaccine manufacturing venture

KUALA LUMPUR (Feb 27): The arrival of Sinovac Covid-19 vaccine marked a historic moment for Malaysia and an important milestone for Pharmaniaga Bhd’s venture into vaccine manufacturing as it will be the first-ever vaccine to be filled and finished locally. Pharmaniaga LifeScience Sdn Bhd (PLS), a wholly-owned subsidiary of Pharmaniaga today received the first batch of Sinovac Covid-19 vaccine bulk for the purpose of process validation (PV) batch manufacturing. PV is part of the registration application requirement by the National Pharmaceutical Regulatory Agency (NPRA). The 200-litre bulk equalling to 300,000 doses of vaccine, arrived in an envirotainer, which preserves the vaccine temperature between 2 to 8 degrees Celsius, was flown in by MASkargo on an Airbus A330-300 from Beijing, China.

With Boustead privatisation plan off, LTAT further away from goal of high dividend returns

IN 2019, Lembaga Tabung Angkatan Tentera (LTAT) set a goal to reduce its heavy dependence on dividend income from the listed Boustead group of companies as part of its plan to rebalance its investment portfolio. Two years on, it seems no closer to realising that goal after it aborted its plan to take Boustead Holdings Bhd private last week. The proposed privatisation was mooted by LTAT last May in what was seen as an important step for the armed forces pension fund to support the potential restructuring of the loss-making diversified conglomerate’s businesses away from the scrutiny of public shareholders and regulators. The proposal is now entirely off the table and attention has now shifted to Boustead to turn itself around.

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