PETALING JAYA: Copper products manufacturer Ta Win Holdings Bhd has entered into the biohealth and pharmaceutical businesses with the acquisition of a 32.5% stake in Royce Pharma Manufacturing Sdn Bhd.
The group’s maiden investment into the pharmaceutical industry was made through its wholly-owned subsidiary Ta Win Copper Biohealth Sdn Bhd (TWCB) for a cash consideration of RM20.85mil.
Tan Win group managing director Datuk Seri Ngu Tieng Ung expected the investment in Royce Pharma to positively impact the group’s financial performance in the future, given the profit guarantee of RM10mil each for the first and second years, of which Ta Win will recognise its proportionate share of the future profit.
“Following through from the incorporation of our own healthcare arm TWCB, our investment in Royce Pharma – one of the leading pharmaceutical companies in Malaysia – is a natural progression as part of our long-term strategic plans.
“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 ongoing 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, ” Ngu said in a statement.
Royce Pharma group deputy president and executive director Datuk Chandrasekar Suppiah said the decision to partner Ta Win was timely.
He said the two companies shared a strong vision for the future of the pharmaceutical industry in Malaysia and beyond.
“We firmly believe that with Ta Win’s support, we will be able to successfully adopt new technology in terms of research, supply chain, manufacturing and distribution, thereby allowing us to expand our reach in the local and global markets even further, ” he said.