Tuesday, January 10, 2017

HOVID---工厂最快4月1日可以开工。。。每股盈利受到影响。。减0.33 分(MINUS 0.33).....卫生部每次做戏做戏,其实要有标准惩罚--停止合约一年,不能够供应任何产品给卫生部和政府医院为期一年。。不然,每次的行动徒添笑话。。。两个月又没事了。。APA SUSAH.....

Further to our announcement on the Revocation of Manufacturing Licence (“Revocation”) by the Pharmaceutical Services Division of the Ministry of Health (“PSD”) on 9 January 2017, Hovid would like to provide information on the expected financial impact of the Revocation, based on the following best estimated timeline and assumptions:-

  1. Submit corrective actions to National Pharmaceutical Regulatory Authority (“NPRA”) by end January 2017,
  2. Invite NPRA to audit our facilities and Current Good Manufacturing Practice (“cGMP”) immediately thereafter,
  3. Re-issuance of the Manufacturing licences by the authority by end March 2017, and
  4. Resume production activities by 1 April 2017

Do note the estimated timelines above may change depending on the outcome of the audit by NPRA in due course.

Based on the audited results of the Group for the financial year ended 30 June 2016 and our issued 819,662,371 shares as at 31 December 2016, the negative effects of the Revocation on the turnover, earnings per share and net assets per share of Hovid Group, assuming the Revocation is withdrawn by 31 March 2017, are as follows:-
 
 Without revocation
 With revocation
Impact
Turnover per share
23.06 sen
18.43 sen
-4.63 sen
Earnings per share
2.18 sen
1.85 sen
-0.33 sen
Net assets per share
24.61 sen
24.28 sen
-0.33 sen


The business divisions of the Group based on the audited accounts for the financial year ended 30 June 2016, are as follows:-
 
Manufacturing division
Distribution division
Group
 
RM'000
RM'000
RM'000
Turnover
62,526
126,500
189,026
Earnings (PAT)
10,577
7,573
18,150
Net assets
173,158
28,542
201,700

The contribution by the business divisions based on the audited accounts for the financial year ended 30 June 2016, are as follows:-
 
Manufacturing division
Distribution division
Group
 
%
%
%
Turnover
33%
67%
100%
Earnings (PAT)
58%
42%
100%
Net assets
86%
14%
100%


Hovid will continue to provide periodic updates should there be any material developments.


This announcement is dated 10 January 2017.

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