Hong Leong Investment Bhd (HLIB) expects Pharmaniaga Bhd's growth to grow rapidly with its 5 -year strategy introduced in 2021.
According to the research firm, the 5 -year strategy introduced by Pharmaniaga is:
Strengthen the logistics and distribution business in Malaysia and Indonesia
Expanding the product range
Being a major competitor in the biopharma industry in the development of insulin and vaccines
Expand business to international markets
He further explained that about 20% of Pharmaniaga's revenue comes from the international market and the medical company plans to achieve the target of 50% through the Philippine and Thai markets.
In addition, Pharmaniaga is building a strong foundation of around 70 sen to 74 sen which will open up buying interest opportunities.
Meanwhile, the current situation of Covid-19 in Shanghai is seen to be getting worse with reports of 25,000 cases of infection until there was a rally by residents who voiced complaints about food and gas supply issues as well as concerns of a worse spread in China.
The situation in Shanghai is the worst phenomenon in the history of Covid-19 cases since Wuhan in 2019, where the Chinese government reported 1,006 symptomatic cases while 23,937 asymptomatic cases.
To make matters worse, all 26 million residents have been under curfew and only health workers, volunteers, delivery staff or those with special permits are allowed out.
Meanwhile, 1 footage has been spread showing a group of Shanghai residents holding a rally to voice the issue of food supply and the declining need for medical officers.
As a result, the executive of e-commerce giant JD.com and food delivery service, Ele.me has worked to convince residents that supply issues are not a major problem.
