YSP chalks up 90 sen gain on 2nd board debut


BY SABRY TAHIR

YSP South East Asia Holdings Bhd made its debut on the MSEB second board yesterday, opening at RM2.33 for a commendable 90-sen premium over its initial public offer (IPO) price of RM1.43.  

The stock, which was the day's top gainer, rose to as high as RM2.48 before slipping back to close at its day's low of RM2.19 on volume of 3.38 million shares. 

YSP chairman Datuk Dr Anis Ahmad said the company was very pleased with the opening price. “The performance was beyond our expectation,” he told reporters after the listing ceremony in Kuala Lumpur. 

YSP’s core business is the manufacture of generic pharmaceutical products for local and export markets. It is 42.2%-owned by Taiwan-based Yung Shin Pharmaceutical Industries Co Ltd. 

On the company’s future plans, Anis said YSP was looking at expanding its market in the Middle East by taking advantage of Malaysia's reputation as a respected Muslim country. 

The company, which plans to embark on direct distribution of its products in the Middle East, is currently registering with the authorities in that region. 

Anis said YSP’s products were at present marketed there by Middle East traders who purchased them in Malaysia. 

YSP supplies 90% of its output to the local market, mainly to privately-owned pharmacies and clinics, and exports the balance to Asean countries. 

YSP managing director Dr Frank Lee Fang Hsin said the company planned to secure contracts to supply pharmaceutical and injectable products to government hospitals. 

It sees potential in this sector as its new warehouse and injectable products facilities in Bangi, Selangor, are expected to be operational after the Chinese New Year and by the end of this year respectively. 

“We started construction of the additional facility a year ago but are still waiting for approval for the high-tech manufacture of injectable products, including syringes,” he added. 

Lee said the company had invested RM5.5mil in the new warehouse, which was developed near the existing factory in Bangi. 

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