Malaysia: MEF sees lower pay-rise raise-2014

The salary increment for next year is forecasted to be lower than the average increase this year due to economical "uncertainties" especially in the export sector.

Malaysian Employers Federation (MEF) revealed in its salary survey report that the average forecasted salary increase for 2014 is 5.63% for executives and 5.65% for non-executives. "This is lower than the actual average salary increase of 6.31% this year for executives. The forecasted average for non-executives is also lower at 5.65% compared to the actual average salary increase of 6.78% this year,"

MEF president Tan Sri Azman Shah Haron told a press conference today. "There are a lot of uncertainties out there. Malaysia is a major exporter to developed countries and these countries are not doing very well. That is why it would be difficult for companies to set a high fixed increment,"  based on the findings from 257 member companies.

He said the average salary increase this year for executives is slightly higher at 6.31% as compared to 6.29% in 2012. Similarly for non-executives, the average salary increase of 6.68% this year is higher than the 5.83% recorded last year.

The forecasted bonus for executives in 2014 is 2.21 months, which is slightly lower than the 2.26 months of actual bonus granted this year. However, the forecasted average bonus for non-executives for 2014 is 2.13 months, which is higher than the 2.05 months of actual average bonus given in 2013.

"Sixty-seven per cent of participating companies granted bonus to all executives in 2013, which is lower than the 71.7% in 2012. In the case of non-executives, 69.5% of the participating companies granted bonus to all of them in 2013, which was also lower compared to 73.4% in 2012," Azman said.
Source:theSundaily 27-11-2013

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A quick fix to medical disputes

Patients and doctors can soon resolve their grievances without going to court.

A mediation bureau is being set up by the Malaysian Medical Association (MMA) and the Medico-Legal Society of Malaysia (MLSM) to look into the increasing number of medical disputes in the country and settle cases out of court.

“Although the bureau does not have any legal regulatory powers, it will be a faster and cheaper alternative for parties seeking an amicable solution to their medical dispute,” said Datuk Dr N.K.S. Tharmaseelan, president of both MMA and MLSM which represent more than 15,000 doctors and specialists. The bureau, to be operational by Dec 1, will have a panel made up of legal advisers and healthcare experts. Those seeking redress will be charged a small administrative fee of about RM100.

Dr Tharmaseelan said the recent large court awards encouraged patients to sue, resulting in some doctors giving up practice. He said doctors can be made liable for everything from advising patients to failing to warn of risks associated with a recommended treatment to breaching the duty of care.

“Practising medicine now is like walking a tight rope over shark-infested waters. A doctor can even be liable even if a nurse wrongly counts the gauze during surgery,” he said.

According to Medical Defence Malaysia (MDM), a local court had awarded RM5.4mil to a brain-damaged child in 2011. With the interest calculated from the date of the injury, the amount due was about RM7.4mil.

MDM board member Dr Milton Lum said that based on the increase in indemnity subscriptions, there “seems to be an increase” in the number of litigations against doctors. “The amended Medical Act, which received royal assent last year, requires all doctors to have indemnity coverage as a condition for renewal of their annual practising certificate.

“However, the amended Medical Act has yet to be enforced,” he said, adding that Health Ministry data showed an increase from 29 to 56 cases (against doctors) from 2006 to 2011. There is no data for the private sector.
Federation of Private Medical Practitioners Associations Malaysia president Dr Steven Chow said the increase in medical litigation is real and imminent. He said higher patient expectation and doctor-patient communication breakdown have given rise to medical negligence cases. “Otherwise, the practice of defensive medicine will escalate and both patient and doctor will lose out,” he said.

Source: the STAR 17-11-2013

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ASEAN: Healthcare Manpower

According to a study by Deloitte, Healthcare 3.0, published recently, the ASEAN region faces a shortage of medical professionals to the magnitude of 1.6 million, which is among the highest in the world.

As a comparison between member nations, Malaysia, Singapore and Thailand are the region's net exporters of healthcare services as is evident in the strong medical tourism growth. Currently, these countries are also net recipients of skilled healthcare manpower.

Medical professionals are highly mobile. Markets are also becoming more integrated and it is expected that countries will face stiffer competition for healthcare professionals. It is also to be noted that  countries like Malaysia and Singapore are transit countries of foreign nurses seeking further migration to end destination countries which has created gaps in their respective health systems.

ASEAN: Healthcare manpower ratio (2005 - 2012)

1) No of physicians per 10,000 population

Vietnam: 12.2   Thailand: 3.0    Singapore: 19.2   Philippines: 11.5   Myanmar: 5   Malaysia: 12.0   Laos: 1.9   Indonesia: 2.0   Cambodia: 2.3   Brunei: 13.6

2)  No of nursing and midwifery per 10,000 population

Vietnam: 10.1   Thailand: 21.8   Singapore: 63.9    Philippines: 60.0   Myanmar: 8.6   Malaysia: 32.8   Laos: 8.2   Indonesia: 13.8   Cambodia: 7.9   Brunei: 70.2

Source: WHO Health Statistics 2013

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No Profit, No Company

What is "customer-centric'? This was raised when I was participating in a training programme recently. Many junior managers had the impression that "it meant bending all the way backwards in order to satisfy customers' needs!"

I asked "how backwards?" ... the answer "... as back as possible ..."

Hmm ... does it mean that a Company, which has decided to make the customer his centre of universe, or focus, has to absolutely revolve his services, promotions, sales and marketing activities, around his customers? I would, without hesitation agree to this approach provided that ethics and policies of the Company are not breached. Further, the Company must be able to make reasonable healthy profit and growth.

In an example given during the discussion session, it was pointed out that the Company should extend long credit terms to its customers as a means of keeping and retaining the customers as opposed to many Companies which are rigid on its shorter payment term. I was astounded by this simplicity of thinking. Even, if the Company is cash rich and has a healthy cash flow this would be a very poor option.

Company would have to purchase inventories upfront, the inventories got delivered over a certain lead time, on arrival the stocks are stored for a period of 1-2 months before they are purchased and delivered to the customers. The Customers would then be having a credit term of an average of 90 days, as in Malaysia. From the financial perspective, the Company is acting like a banker or financers to the customers as the Company has to make use of his own finance facilities along the supply chain months before he gets paid!

Many managers conveniently overlooked the fact that, a Company exists to make reasonable healthy profit. Companies are not charitable organisations. And thus managers should understand basic financial management in order to add values to their respective organisations and play active roles in ageing accounts as well as accelerating purchase orders from customers, optimal inventory level, stock leakages and procurement etc ... all these define the sustainability of the Company.

Without reasonable healthy profit and cash flow ... it is a matter of time before staff are being retrenched and the Company downsized and exit from the scene!

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Meeting: Who sits around the Table?

I have, and still am, attending many meetings and workshops where I observe that there are different
personalities and interest groups that govern the behaviours and quality outcome of the gatherings.

Assuming that the Agenda and all other meeting requirements are in place, the quality of the outcome of the Meeting would be determined by the knowledge, preparedness, deliveries and articulation skills of the participants, degree of participations, the wisdom and guidance of the Chairperson,

I will broadly classify, according to my definitions, the type of personalities, that are normally present in any Meeting:

1) The Hard headed (or bulldozer): They are vocal and determined that others should listen to them, and agreeing with them. When others speak, they would "jump" in with their views, to interrupt the speaker. Oh, how nasty, demeaning and disrespectful this can be. They are of the opinion that their views are always right or "the best". They would deem others who do not align with them as "not-knowing or wrong". They could also get "personal" with negative emotions locked-in.

2) The Cool and Wise headed: These are people who would speak at the right time and right moment. They would respect the views of others. Their views and articulation would be based on their experience, facts and figures. They would be ready to receive the views of others.

3) The "Experts": Foolishness reigns in the hearts with these self-claimed experts. They share their views vigorously but also, take upon themselves, to reply on behalf of others who were supposed to response to questions posed. They like to be seen as "I know all" and "you listen".

4) The Hearers: These are the spectators who would occasionally smile and nod their heads in agreement. They normally would not have their own views. They are contented to be present and "show" their presence in support. In all likelihood, they would go along with the majority when decisions are to be made.

5) The Mumblers: During coffee-break or after a meeting, these silent spectators, would turn experts and vocal. They could be heard expressing their views among themselves. The views normally expressed would be more destructive than constructive. These are the "interlude or after meeting experts".

6) The Indifference: They would do their own "things" in an on-going meeting. Their minds wander. They would be reading/sending messages from their mobile phones, periodically walking out of the meeting room etc ... or in short, "mindfully absent". Their conscience taken care of as "they were present in the meeting". They are "here to mark their attendance"!

Thus, as a Chairperson to any meeting, the Chair must take cognizant of the different personalities around the discussion table. He or she must make all conscious and intelligent effort to "rope" all into active discussions. This is indeed challenging.

A Chairperson must thus have the relevant experience, skill and knowledge to steer. guide and lead the Meeting according to the Agenda, otherwise, any potential Chair must learnt and acquire same.

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Malaysia: Economy expands by stronger 5% in Q3, 2013

The economy expanded by a stronger 5% in the third quarter of this year from a revised second quarter growth of 4.4% this year, bolstered by domestic demand and a significant turnaround in exports. In announcing the country's economy today, Bank Negara Malaysia Governor Tan Sri Zeti Akhtar Aziz (pic) said domestic demand grew by 8.3%, while exports registered 1.7% growth compared with minus 5.2%.

This positive news is released on the back of increased volatility following uncertainties over the fiscal and monetary policies of the advanced economies, particularly in the United States.

The central bank maintained 4.5-5% projection for 2013.

The headline inflation rate, as measured by the annual change in the Consumer Price Index (CPI), was higher at 2.2% in the third quarter from 1.8% growth in the second quarter. She said the increase was mainly attributed to higher inflation in the transport, food and non-alcoholic beverages categories.

On the supply side, growth in most economic sectors improved in the third quarter, she said.
Zeti said the services and manufacturing sectors expanded further, supported by domestic demand and improvements in trade activities. The agriculture sector's growth was also higher, supported mainly by production of food crops, while the moderation in growth of the mining sector reflected the lower production of natural gas and crude oil, she said. Growth was also sustained in the construction sector, driven mainly by the residential sub-sector. Zeti said growth was further supported by the non-residential and civil engineering sub-sectors.

Quarter-on-quarter seasonally adjusted basis, the economy expanded by 1.7% compared with 1.4% in the previous quarter of the year. Private consumption grew by 8.2% against 7.2% in the previous quarter, supported by sustained employment conditions and wage growth. Meanwhile, public consumption expanded moderately in the third quarter to 7.8% versus 11.8% in the second quarter this year, reflecting mainly lower government spending on supplies and services.

In the external sector, the current account surplus increased to RM9.8 billion in the third quarter, equivalent to 4.1% to gross national income (GNI) from RM2.6 billion or 1.1% of GNI.

The overall balance of payments registered a larger surplus of RM11.8 billion in the third quarter compared with RM1.5 billion in the second quarter of 2013.

At the prevailing level of the Overnight Policy Rate (OPR), Zeti said monetary conditions remained supportive of economic activities.

Going forward, she said, the gradual recovery in the external sector would continue to be supportive of growth for the Malaysian economy. Domestic demand from the private sector would remain supportive of economic activities amid continued consolidation of the public sector, she said.

"The economy is therefore expected to remain on its steady growth trajectory," she said.

She noted that emerging signs of a recovery in the major advanced economies are expected to support overall global growth. "Uncertainties surrounding the fiscal and monetary policy adjustments in these economies, however, may affect market sentiment and overall growth prospects in the global economy. "(While) Global policy spillovers may have some impact on Asia, growth will continue to be underpinned by domestic demand," she added.
Source: Bernama, 15-11-2013

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Ringgit gains most in three weeks

Malaysia’s ringgit climbed the most in almost three weeks before reports forecast to show the nation’s economic growth accelerated and the current-account surplus widened. Government bonds were little changed.   At 9am, the ringgit appreciated against the greenback to 3.1935/1965 from 3.2040/2070 yesterday.

A dealer said the euro was dampened by the weak eurozone data while the Japanese yen slipped after the Finance Minister Taro Aso told a parliamentary committee that Japan must retain the currency intervention as a policy tool.

Against other major currencies, the ringgit was also traded higher.

The local note appreciated against the Singapore dollar to 2.5616/5644 from 2.5683/5712 yesterday and strengthened against the yen to 3.1868/1901 from 3.2255/2102 on Thursday.

Against the British pound, the ringgit emerged stronger to 5.1288/1349 from 5.1360/1424 yesterday and rose to 4.2962/3009 from 4.3107/3157 against the euro.-- Bernama

Gross domestic product increased 4.7 per cent in the third quarter from 4.3 per cent in the previous three months, according to the median estimate of 17 economists surveyed by Bloomberg News before official data due at 6pm local time. The ringgit rose for a second day after Federal Reserve chairman nominee Janet Yellen said yesterday she would maintain the record stimulus that has stoked global asset gains and suppressed borrowing costs until the US economy is stronger.

"Risk appetite for Asian currencies is improving because Yellen’s statement sends a strong signal that tapering will be on the back burner for a while," said Yeah Kim Leng, chief economist at RAM Holdings Bhd in Kuala Lumpur. "The ringgit’s strength will be further supported by the improvement in domestic economic data."

The currency appreciated 0.3 per cent to 3.1951 per dollar as of 9.14am in Kuala Lumpur, the steepest increase since October 28, according to data compiled by Bloomberg.

One-month implied volatility, a measure of expected moves in the exchange rate used to price options, fell two basis points, or 0.02 percentage point, to 8.73 per cent. The gauge declined 31 basis points this week.

Malaysia’s current-account surplus widened to RM10.7 billion in the third quarter from RM2.6 billion in the preceding three months, according to the median forecast of analysts polled by Bloomberg News before data due at 6pm local time today.

The yield on the 3.48 per cent bonds due March 2023 was little changed at 3.89 per cent, according to data compiled by Bloomberg. The rate rose 17 basis points this week.-- Bloomberg

Source: Business Times 15-11-2013

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Staff Attrition

A close friend called me up, I felt her frustration and disappointment over the phone, telling me that her long time employee had decided to "leave" her for another opportunity.

A quick flash went through my mind as I had the pleasure of knowing this employee over the years. He had worked himself up from the ground to a highly respected position of a Marketing Manager. He was trusted and was given much responsibility and opportunity to grow within the Company. A career path was also planned for him.

Lo and behold, one day, out from the blue, he threw a "bombshell" and tendered his resignation! My friend was aghast!

Ungrateful? Unthankful? Too ambitious and couldn't wait for his promotion? Or his career path was not clear to him? Or wanting to make a new opportunity for himself after learning the ropes, wanting to strike out for himself? Or ...

Whatever the reasons, even after trying to persuade him to change his mind, if he has to go, he goes.

As an employer, we must be ready and expect, even the best employee to leave as each individual will have his or her own reason to stay or leave. It is important and in the interest of the employer to retain the staff as well.

I believe even the "Best run Company" with all the "best perks in the world" will also have staff attrition. What the employer should continue to do is to provide a conducive work environment, good management practice and leadership, effective HR program with competitive packages, incentives and career opportunities etc. These are the very basic that all employers should have. Any additions will be value-add.

Employees will always "look outside" but we can minimise staff mobility. As an employer, we must also be "people sensitive" and must set aside time to "communicate" with the staff and allow staff to have their own "space" for expressions as well.

The good news is, Company will always continue to grow irrespective of staff movements. The critical factor that the leadership must have is its strong focus in its task and business supported by relevant structure and processes in place for business continuity and negative risk containment.

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Frame of Mind

Since the Malaysian Budget 2014 was announced on 25th October 2013, I was asked many times on my views about "the GST" and the "RPGT". These 2 are hot topics "for the day" as evidenced by the many write-ups in the news media in the past few weeks.

I gave my views and then it would be followed by tirades of "what is not right" about the "GST" and the "RPGT". The people, who asked me, would identify the pitfalls, the timing, the implementation mechanisms etc  ... I was taken aback when there were also numerous discussions and feedbacks, in the news media and "Talk Shows" from authoritative and leading financials and management bodies/corporations outlining the "pros" and "cons" and the mechanisms, in their views, in which the "GST" and the "RPGT" could be implemented. Experiences of other Countries were also being openly discussed and shared.

The people was obviously oblivious to the bigger picture of the "world out there" and decided to be trapped in their views of "what is going to happen and how disadvantaged would the people be" if the 2 subject matters are to be implemented. To my mind, "they asked and yet decidedly not ready to open their minds to the on-going debates on same" in order to have a better grip on their interests. Thus, they get frustrated and "stressed-out".

What do I do? I just had to explain my views and supplement with the various opinions, proposals and suggestions that I read and heard from the Authority and other authoritative and competent professionals/corporations. Meanwhile, it must be noted that the Government is still mulling with the details of the implementation.

What lesson can we gathered from here? I suppose there are always differences of opinions in any subject matter ... some are opened to the views of others, others may not and yet there are some who think they know more ... You can't win them all ... life has to go on ... you do what you can and do the best according to your ability ...

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Malaysia's Vision 2020 on track

Malaysia’s surge from once a nascent developing economy to what it is now is described by some US experts as an "advanced emerging economy", is a reminder that the country is transiting to becoming a full developed nation by the year 2020, a goal that is embedded in the Malaysian government’s Vision 2020.

The level of development and sophistication characterising Malaysia’s economy today was also highlighted by Datuk Seri Abdul Wahid Omar, the Minister in the Prime Minister’s Department, who is currently visiting New York with a  delegation of 14 Malaysian companies showcased under the Invest Malaysia USA (IMUS) 2013 roadshow to attract portfolio investors from the United States to Malaysia’s capital market. 

"In line with the goal of making Malaysia a developed country by 2020, we underlined our objectives to increase the country’s per capita income from US6,750 to US$15,000 in 2020.

Currently, we are around US$10,000 and are on track to achieving the US$15,000 income target by 2020. This is an all-inclusive income growth we are trying to achieve," Abdul Wahid said in an interview with Bernama in New York.

Abdul Wahid, who is rated as one of Malaysia’s leading financial experts and was the president and chief executive officer of the Maybank Group before he was appointed the Minister in the Prime Minister’s Department, reinforced the Malaysian government’s "deep commitment" to improving the earnings of all Malaysians, including the low-income earning Malaysians.

"Our goal will be to achieve sustainability. By sustainability, we do not just mean the environment-friendly and judicious use of the country’s natural resources such as oil and gas, but also the overall economic management of the country. 

Abdul Wahid spoke of the "dramatic transformation" of Malaysia’s economy which had moved from an agro-based through manufacturing to a services economy. "The services sector contributed about 55 per cent to the economy and has exceeded the manufacturing sector," he said.

Highlighting the positive attributes of Malaysia’s corporate sector, Abdul Wahid said Malaysian companies are better capitalised today, their debt levels are much lower than in 1997/98, when the devastating financial crisis enveloped a number of Southeast Asian countries, and their borrowings are in ringgit rather than in US dollars, thus cushioning them against forex volatility.

"The size of our international reserves then were between US$19 billion and US$30 billion. Today the reserves are around US$106 billion," he said.

With the formation of the Asean Economic Community in 2015, Abdul Wahib said that he was a "great believer in the Asean story". "I believe that the Asean leaders are committed to the Asean goals. Malaysian companies are successfully operating in the Asean region and this will, invariably, give American companies many advantages, including accessibility to a US$2 trillion capital market," he stressed.

In the balance-of-payment account, Malaysia is projected to have a surplus of RM25 billion this year. However, the payment account surplus was narrowing down attributed mainly to lower exports, rise in imports, particularly involving big-ticket purchases such as large commercial aircraft by the airlines. 

Facing shortage of experts and skilled labour, Malaysia is also trying to lure back Malaysian experts who work abroad. "We are keen to attract Malaysian expats living abroad to return to Malaysia and provide their expertise in their area of specialisation," he added.
Source: the New Straits Times 06-11-2013

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Life is like a Camera

I thought this is AWESOME! ... received from a friend ... would like to share with all ...

Life is like a camera ...
Focus on what is important,
Capture the good times,
Develop from the negatives,
And if things don't work out,
Take another shot.
... very wise ...

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EPP3: Orthopaedic devices - Sima Medical

Sima Medical will be championing an effort to develop orthopaedic clinical devices in Malaysia via its joint venture with the Naton Medical Group of China and Malaysian partners.
  • Investment by 2020 (million)
  • GNI Impact by 2020 (million)
  • Jobs created by 2020
The OEM will be based in Malaysia with the technologies and intellectual properties provided by the Naton Medical Group. Sima Medical will focus on the following orthopaedic product segments:

- Nail, Plate, Knee, Hip, Spine, Dental and Cranio-Maxillofacial systems
The manufacturing of these segments will be outsourced by Sima Medical to Straits Orthopaedics and/or ABio Orthopaedics of Penang. Sima Medical will directly undertake the marketing and sales of products to emerging and international markets in Penang and the R&D will be based in Petaling Jaya.

Market sector especially in the Asia Pacific are achieving double digits growth in orthopaedics field.

Therefore, Malaysia is an ideal location for Sima Medical for two main reasons include internationally cost competitive and positive perception of the Malaysian made products. The projected timelines for this project are as per below:
  • Phase 1 – launch products into the Malaysian market before the end of 2014
  • Phase 2 – launch products into the Asia Pacific markets before the end of 2015
 Source: ETP website

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EPP3: Investment in Sterile Injectables/Infusions by Kotra Pharma

Kotra Pharma will be investing RM60 million to develop a manufacturing line to produce sterile injectable or infusion products. These products are currently not produced in Malaysia and it will be a pioneering initiative.
  • Investment by 2020 (million)
  • GNI Impact by 2020 (million)
  • Jobs created by 2020
The manufacturing line will be an addition to the world class pharmaceutical plant worth RM152 million which was initiated in 2010.

Kotra will be able to supply the Ministry of Health through this investment which will then substitute the need to import these products. Kotra currently exports to over 40 countries to date and is looking to expand the product range in its export market.

Source: ETP website

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EPP3 - pMDI by RBL

From the ETP website, RB Lifescience Sdn Bhd (RBL), will be building a pharmaceutical plant for the production of generic pMDI inhalers and oncology injectables.

The commercial production of these medicines will kick start in 2016 and the later in 2017. This initiative has large potential as it has an expected growth rate of 8-10% pa in Malaysia and in the ASEAN region.
  • Investment by 2020 (million)
  • GNI Impact by 2020 (million)
  • Jobs created by 2020
The generic medicines and the technology are new and currently unavailable in this region. Therefore, RBL will acquire new technology via technology transfer agreements with renowned international pharmaceutical companies. Through this, RBL aims to develop the nation’s pharmaceutical sector by becoming a large exporter of these generic medicines by 2020.

Currently, inhalers and oncology injectables are imported by the countries in the ASEAN region. 

Source: ETP website Project 29-08-2013


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Caring Pharmacy’s IPO oversubscribed 33.66 times

Caring Pharmacy Group Bhd’s offer of 10.87 million shares of RM1.25 each to the public was oversubscribed by 33.66 times.

The community pharmacy operator, which is seeking a listing on the Main Market of Bursa Malaysia on Nov 13, said there were 20,137 applications valued at RM471.64mil from the public.

Caring managing director Chong Yeow Siang said the overwhelming response reflected the healthy fundamentals and the potential growth prospects.

The joint placement agents also confirmed the 14.20 million shares made available for private placement were oversubscribed, according to a statement issued on Saturday.

The listing exercise involved the public issuance of 35 million new shares, which would result in raising  RM43.75mil.

Caring said 41% of the proceeds would be used to open new pharmacy outlets and another 27% for working capital.

Kenanga Investment Bank Bhd is the principal adviser, managing underwriter, joint underwriter with MIDF Amanah Investment Bank Bhd, and joint placement agent with Inter-Pacific Securities Sdn Bhd.
Source: theSTAR 02-11-2013

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CCM Duopharma, Korea’s PanGen: Phaes III -Epoetin-Alfa

CCM Duopharma Biotech Bhd (CCMD) and South Korea’s PanGen Biotech will conduct phase three clinical trials of the latter’s PDA10 drug to treat patients with anemia due to chronic kidney failure.

CCMD said on Friday if the trials, starting in November are successful, it will have the commercialisation rights to market and distribute the drug in Malaysia, Singapore and Brunei, worth more than RM50mil annually.


PDA10, or Epoetin-Alfa, is PanGen’s first commercial finished "biosimilar" – that is, a follow-on version of existing bio-pharmaceutical product whose patent has expired.

The clinical trial costing RM8mil involves 18 sites and 300 patients in Malaysia, while in Korea, where testing is already underway, it includes five sites and 40 patients.

To recap, the trial follows the joint clinical trial agreement with PanGen in June 2012. The trial will conform with the European Medicines Agency and the Malaysian National Pharmaceutical Control Bureau (NPCB) guidelines.

“This agreement will enable CCMD and CCM Group to compete for high value added partnership projects in the commercialisation of biosimilars while eliminating the need to invest in very expensive clinical trials and long gestation periods to deliver the product to market,” said Amirul Feisal, a CCMD board member.

Biosimilars, dominated by global pharmaceutical players, is forecast to expand at a compounded average growth rate of 12% in Asia, and is expected to be worth an estimated RM8bil in Southeast Asia by 2020.

CCMD invested RM7mil to establish Malaysia’s first NPCB-certified GMP Biological Fill and Finish facility in Klang and it might invest an additional RM9mil for a pre-filled syringe suite should the phase three trials prove successful.
Source: theSTAR 01-11-2013

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