CCM Duopharma, CCM to undertake corporate exercise

KUALA LUMPUR: Chemical Company of Malaysia Bhd (CCM) and its pharmaceutical subsidiary CCM Duopharma Biotech Bhd (CCM Duopharma) will be undertaking a corporate exercise. 

Both companies have requested for voluntarily suspension on Wednesday pending the announcements. 

CCM Duopharma was last traded at RM2.11 and CCM at RM1.69.

CCM Duopharma is a subsidiary of CCM that has seven pharmaceutical units under its umbrella. As at March 31, CCM has 73.37% stake in CCM Duopharma via CCM Marketing Sdn Bhd. 

The Employee Provident Fund has a 3.77% stake in CCM Duopharma while the Amanah Saham Bumiputera has 3.26% held through Amanahraya Trustees Bhd.

CCM Duopharma is involved in the development, manufacturing and marketing of generic drugs and branded pharmaceutical products. The company has a wide range of products in the form of tablets, capsules, syrup, oral antibiotic, creams, hemodialysis solution, sterile irrigation solution, sterile powder injectables, small volume injectables, dental cartridges and eye drop preparations.

For the first quarter ended March 31, 2017, CCM Duopharma posted a net profit of RM9.56mil, or 3.43 sen earnings per share on revenue of RM123.3mil.