Boustead reinvents itself

BOUSTEAD Holdings Bhd is reshaping itself from a sprawling conglomerate into a more focused business group, with the gradual reduction of its stake in once-prized pharmaceutical arm Pharmaniaga Bhd providing a glimpse into how it is reallocating capital and attention towards new growth areas.

Boustead’s stake in Pharmaniaga has fallen sharply from more than 87.35% in 2011 to 51.85%, while the Lembaga Tabung Angkatan Tentera (LTAT) now holds a 12.69% direct stake in the pharmaceutical company.