Kenanga stays cautious on Pharmaniaga, reiterates 'underperform'
Pharmaniaga said it was given a seven-year concession to undertake the procurement, storage, supply and delivery of medical products to offices and facilities within Malaysia operated and controlled by the Ministry of Health.
The agreement will take effect retrospectively from July 1, 2023, for a period of seven years until June 30, 2030, subject to an earlier termination.
Kenanga projects pedestrian earnings growth for Pharmaniaga in FY24, similar to pre-Covid levels, averaging RM40-60mil driven by regular orders for medical supplies from MoH concessions.
Source: The Star
https://www.thestar.com.my/business/bus ... perform039
