ALMOST RM216mil or 38% of Pharmaniaga Bhd ’s market capitalisation was wiped off in just a week, after a RM552mil vaccine provision sparked a panic among investors in the stock. The pharmaceutical player had to make the provision for “slow-moving stocks of Covid-19 vaccines”, in accordance with accounting standards. This pulled the company into the red with a net loss of RM607.32mil in the financial year ended Dec 31, 2022 (FY22).

Source: The Star March 04, 2023 08:35 UTC