PETALING JAYA: Ta Win Holdings Bhd, through its subsidiary Ta Win Copper Biohealth Sdn Bhd (TWCB), today entered into an agreement to acquire a 32.5% equity interest in Royce Pharma Manufacturing Sdn Bhd for RM20.85 million cash, marking its first investment in the pharmaceutical industry.
Ta Win group managing director Datuk Seri Ngu Tieng Ung said following through from the incorporation of its own healthcare arm, TWCB, its investment in Royce Pharma, one of the leading pharmaceutical companies in Malaysia, is a natural progression as part of its long-term strategic plan.
“This exercise will enable the Ta Win group to harness Royce Pharma’s existing pharmaceutical platform, capabilities in drug development, drug production capacities and its wealth of experience, to explore the development of pharmaceutical products that are relevant to the current global environment, particularly given the on-going Covid-19 pandemic. We are also looking to further explore the downstream application of the biochemistry and chemistry of copper as well as copper proteins, with the ultimate goal of enhancing the group’s prospects,” added Ngu.
Royce Pharma group deputy president and executive director Datuk Chandrasekar Suppiah said: “With Ta Win’s support, we will be able to adopt new technology in terms of research, supply chain, manufacturing as well as distribution, thereby allowing us to expand our reach in the local and global markets even further.”
Ta Win is a Malaysian copper products manufacturer. Its products which are manufactured utilising world-class equipment, feature some of the highest quality and standards in the industry.
Royce Pharma manufactures and supplies pharmaceutical products, namely drugs and supplements registered under the National Pharmaceutical Regulatory Agency, as well as non-pharmaceutical products such as medical disposables, equipment and devices under the Government’s Approved Products Purchase List.
“We expect our investment in Royce Pharma to positively impact the Ta Win group’s financial performance in the future given the profit guarantee of RM10 million for the first year and RM10 million for the second year, which will recognise our proportionate share of Royce Pharma’s future profit,” said Ngu.
The proposed investment is expected to be completed by the fourth quarter this year.
