Here is a brief look at some corporate announcements and news flow on Thursday (June 16): Kelington Group Bhd, CTOS Digital Bhd, Supermax Corp Bhd, Poh Kong Holdings Bhd, Capital A Bhd, Ta Win Holdings Bhd, Eco World Development Group Bhd, Caely Holdings Bhd and Sapura Energy Bhd.
CURRENTLY in the red, copper wires and rods manufacturer Ta Win Holdings Bhd is counting on its acquisition of a 32.5% associate stake in Royce Pharma Manufacturing Sdn Bhd to give it a shot in the arm. Even so, the pharmaceuticals business is unchartered waters for Ta Win, and Royce Pharma is loss-making.
The latest available financials show that Royce Pharma made a net loss of RM682,653 on revenue of RM24.13 million for the financial year ended Dec 31, 2018. Its retained losses stood at RM2.6 million.
Ta Win reported a wider net loss of RM2.75 million in the first quarter of its financial year ending June 30, 2021 (1QFY2021), from a net loss of RM2.08 million in 1QFY2020, owing to the impact from the Movement Control Order. However, revenue for the quarter increased 27% year on year to RM85 million.
COPPER products maker Ta Win Holdings Bhd plans to acquire about 30% of Royce Pharma Manufacturing Sdn Bhd, according to sources.
“The deal could be announced as early as this week. The one-third stake in Royce Pharma is estimated to be worth around RM15 million to RM20 million,” a source familiar with the matter tells The Edge.
Incorporated in April 2004, Royce Pharma is a pharmaceutical manufacturing firm based in Nilai, Negeri Sembilan. According to the healthcare company’s website, it is fully equipped with state-of-the-art facilities for formulation in R&D, manufacturing of both pilot and commercial batches, warehousing and distribution as well as sales and marketing of pharmaceutical products.
KUALA LUMPUR (Dec 15): Ta Win Holdings Bhd saw greater interest from investors this morning as its trade volume swelled following its acquisition of a stake in pharmaceutical company Royce Pharma Manufacturing Sdn Bhd.
As of 9.21am, Ta Win had registered a trading volume of 61.79 million shares, nearly four times its 200-day average trading volume of 15.61 million shares.
Meanwhile, its shares were up by 4.44% or a sen higher at 23.5 sen apiece, valuing the company at RM104.83 million.
Yesterday, Ta Win announced the acquisition of a 32.5% stake in Royce Pharma for RM20.85 million.
Royce Pharma has 65 drugs registered with the Ministry of Health (MoH), and a contract to manufacture and supply 25 of them to government healthcare facilities until Dec 31, 2021.
KUALA LUMPUR (Dec 14): Ta Win Holdings Bhd will be acquiring a 32.5% stake in pharmaceutical company Royce Pharma Manufacturing Sdn Bhd for RM20.85 million.
In a bourse filing, the group said its wholly-owned subsidiary Ta Win Copper Biohealth Sdn Bhd (TWC Biohealth) inked a share sale agreement with Poly Lab Sdn Bhd for the acquisition of a 22.8% or 2.74 million share stake in Royce Pharma for RM14.64 million.
At the same time, it signed a subscription agreement with Royce Pharma and the latter’s shareholders Poly Lab and Jelita Serbaneka Sdn Bhd for the subscription of 1.16 million new shares, which represent 9.8% of Royce Pharma’s enlarged share capital, at RM6.21 million.