Pharmaniaga fits into Boustead’s growth plan

PETALING JAYA: It was an open secret that Khazanah Nasional Bhd-controlled UEM Group wanted to sell its stake in Pharmaniaga Bhd and had been looking for the right buyer in the past year or so.

Pharmaniaga is a steady, profitable business that has never lost money since it went public a decade ago, but was considered not the right fit for UEM or Khazanah.