KLANG: Duopharma Biotech Bhd
has anticipated higher halal pharmaceuticals demand from Indonesia in the near term under its export expansion plan.
Its group managing director Leonard Ariff Abdul Shatar said Indonesia is moving towards implementing a law, originally slated for 2022 or 2023, that mandates halal certification for over-the-counter pharmaceutical products.
"They have delayed its implementation to 2026 or 2027. That would be a more viable opening for Duopharma products, rather than the Middle East," he told a press conference after its annual general meeting (AGM) here today.
Leonard Ariff said the company is penetrating the Timor Leste market via direct government tender while Qatar is still a work-in-progress.
He said Middle Eastern countries have a distinct view on halal certification. It is considered halal if a government has approved it for sale.
"They do not understand the concept of halal labelling, whereas in Malaysia, there is a good manufacturing practice (GMP) certificate, which allows a product to be registered, and halal is additional. So in Malaysia, if there is no GMP certificate, there is no halal (stamp).
"But that thinking process is not the same as in the Middle East. So I do not see it (halal exports to Qatar) starting next year or the year after," he said.
Leonard Ariff said the company will focus on removing the bottleneck at its facilities in Klang and Bangi, Selangor this year to cater for both for public and private sectors. It, therefore, aims to win more tenders to ensure that its production capacity matches demand.
"We have more than enough capacity for the public sector. It is all about balancing (demand from the public and private sectors). We do not want to put all our eggs in one basket,” he said, adding that its 2025 priority will be to meet private and international commitments.
For financial year 2024 (FY2024), Duopharma Biotech posted a 19 per cent year-on-year increase in net profit to RM62.65 million on the back of a 15.5 per cent rise in revenue to RM813.70 million versus a year ago.
In a statement, the company said it paid a total dividend of 3.0 sen per share amounting to RM28.86 million, comprising a first interim dividend of 1.0 sen per share totalling RM9.62 million and a second interim dividend of 2.0 sen per share of RM19.24 million. - Bernama
