ID :
127001
Wed, 06/09/2010 - 20:02
Auther :
Shortlink :
https://oananews.org//node/127001
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CCM PLANS TO EXPAND PHARMACEUTICAL BUSINESS BY VENTURING OVERSEAS
KUALA LUMPUR, June 9 (Bernama) -- Chemical Company of Malaysia Bhd (CCM) is
targeting to expand its pharmaceutical business overseas in the Middle East,
Africa and Australia as well as exploring ventures in the regional market.
"At the moment, we are already in talks with parties in these countries. We
will step up efforts to venture into niche segments while developing a broader
portfolio of innovative and higher value-added products," said group managing
director Dr Mohd Hashim Tajudin.
He said the overseas market was currently contributing 30 per cent of the
group's total revenue.
"We are hoping to increase this to more than 35 per cent this year but it
will depend on the market situation," he told reporters at the group's 48th
annual general meeting here Wednesday.
CCM already has a presence in the regional market, with operations in
Singapore, Indonesia, Vietnam, Thailand and the Philippines.
The group's revenue for its financial year ending Dec 31, 2009, declined to
RM1.6 billion from RM2.2 billion (US$1 = RM3.3) in the previous corresponding
period.
However, Mohd Hashim said the group was confident of a stronger performance
in 2010 based on the ongoing improvement of the domestic and regional economic
environment.
The group's pre-tax profit last year was RM15.6 million, down 87.0 per cent
from RM120.3 million in the previous year.
Its pharmaceuticals division recorded a 4.3 per cent growth in revenue to
RM242.7 million from RM232.7 million in 2008.
Mohd Hashim said for the fertilisers business, the division's prospects
looked positive as the stronger current price of crude palm oil will contribute
to an increase in the demand.
CCM's new plant in Lahad Datu in the east Malaysian state of Sabah, is
scheduled to come onstream in the first quarter 2011, he said.
Mohd Hashim said this would enhance the group's position as the largest
compound fertiliser manufacturer in the country as well as extend its supply
capability in Sabah and East Kalimantan.
He said the commissioning of the RM60 million plant will raise the
division's output to 670,000 tonnes annually.
The fertilisers division's revenue dropped to RM897.3 million last year from
RM1.4 billion in 2008 while results from operating activities saw profit
declining to RM28.6 million from RM94.9 million in 2008.
-- BERNAMA
targeting to expand its pharmaceutical business overseas in the Middle East,
Africa and Australia as well as exploring ventures in the regional market.
"At the moment, we are already in talks with parties in these countries. We
will step up efforts to venture into niche segments while developing a broader
portfolio of innovative and higher value-added products," said group managing
director Dr Mohd Hashim Tajudin.
He said the overseas market was currently contributing 30 per cent of the
group's total revenue.
"We are hoping to increase this to more than 35 per cent this year but it
will depend on the market situation," he told reporters at the group's 48th
annual general meeting here Wednesday.
CCM already has a presence in the regional market, with operations in
Singapore, Indonesia, Vietnam, Thailand and the Philippines.
The group's revenue for its financial year ending Dec 31, 2009, declined to
RM1.6 billion from RM2.2 billion (US$1 = RM3.3) in the previous corresponding
period.
However, Mohd Hashim said the group was confident of a stronger performance
in 2010 based on the ongoing improvement of the domestic and regional economic
environment.
The group's pre-tax profit last year was RM15.6 million, down 87.0 per cent
from RM120.3 million in the previous year.
Its pharmaceuticals division recorded a 4.3 per cent growth in revenue to
RM242.7 million from RM232.7 million in 2008.
Mohd Hashim said for the fertilisers business, the division's prospects
looked positive as the stronger current price of crude palm oil will contribute
to an increase in the demand.
CCM's new plant in Lahad Datu in the east Malaysian state of Sabah, is
scheduled to come onstream in the first quarter 2011, he said.
Mohd Hashim said this would enhance the group's position as the largest
compound fertiliser manufacturer in the country as well as extend its supply
capability in Sabah and East Kalimantan.
He said the commissioning of the RM60 million plant will raise the
division's output to 670,000 tonnes annually.
The fertilisers division's revenue dropped to RM897.3 million last year from
RM1.4 billion in 2008 while results from operating activities saw profit
declining to RM28.6 million from RM94.9 million in 2008.
-- BERNAMA
