Duopharma Biotech group managing director Leonard Ariff Abdul Shatar
KUALA LUMPUR: Duopharma Biotech Bhd
’s expansion into the Indonesian market will enable the group to create a bigger global presence and seize exciting opportunities for collaboration that will in turn contribute to better healthcare outcomes.
In April 2023, the company established PT Duopharma Healthcare Indonesia (PT DHI) as a wholly-owned subsidiary of the company in Indonesia.
PT DHI – a limited liability company, has a current authorised and issued capital of 10 billion rupiah comprising 10,001 shares. Duopharma Consumer Healthcare Sdn Bhd (a wholly-owned subsidiary of Duopharma Biotech) holds 99% of the shares while the remaining 1% is held directly by Duopharma Biotech.
In a statement, group managing director Leonard Ariff Abdul Shatar said: “We see promising healthcare reforms in the country, such as the revised Budget 2023 which has allocated a much needed and significant 12% increase for the healthcare sector.
“An increased demand for innovative pharmaceutical products will help improve healthcare outcomes, offering opportunities for growth for the industry.”
In the first quarter ended March 31, the pharmaceutical group posted a net profit of RM22.6mil, up 11.5% from RM20.3mil posted a year ago.
Its revenue rose 7.8% to RM200.5mil compared with RM185.9mil in the corresponding period last year.
Earnings per share for the quarter amounted to 2.38 sen, compared to 2.19 sen in the previous corresponding quarter.
