Nova Pharma Solutions Bhd made its debut on Leading Entrepreneur Accelerator Platform (LEAP) market on Bursa Malaysia, raising close to RM 2.5 million in proceeds. 

Its executive director and chief executive officer, Khoo Boo Wie said after they have move a step forward in their corporate history and close to realising their business plans after the management buyout exercise of the entire equity interest in NNE Pharmaplan Sdn. Bhd. in 2015

“We intend to take the Company forward by leveraging on our strong track record and continue deepening our in-roads into our existing markets and as well as opening up new markets.”

“Given our strong foundation, technical expertise and experience, we are confident the Company will continue to record strong performance in the coming years,” he further Added.

Note worthily, Nova Pharma consists of 2 substantial shareholders. 

In addition to 69.42 per cent direct equity interest held Khoo, JcbNext Bhd holds 9.45 per cent direct equity interest. 

JcbNext is an investment holding company with stakes in associates, namely, 104 Corporation, the largest job site in Taiwan and Innity Corporation Berhad, a provider of interactive online marketing platforms and technologies. Furthermore, it has quoted investments in Hong Kong and Singapore.

Previously, JcbNext was principally involved as the operator of the JobStreet.com online job portal business which has since been sold to SEEK Ltd. in November 2014.

Although the Company has not formulated any formal dividend policy yet, it had consistently paid dividends to its shareholders in the audited Financial Year Ended 31 December 2015 and 2016 as well as unaudited Financial Year Ended 31 December 2017 with RM2.20 million, RM0.50 million and RM2.40 million respectively.

The Excluded Issue of 12.30 million new ordinary shares at an issue price of RM0.20 per ordinary share represents 8.25% of the enlarged issued share capital of the Company, were allotted to selected sophisticated investors.

Based on the issue price of RM0.20 per share, the Excluded Issue has raised gross proceeds of RM2.46 million. The proceeds raised from the Excluded Issue will be predominantly utilised for working capital of RM0.96 million, future business expansion of RM0.50 million as well as estimated expenses of RM1.00 million in relation to the listing.

Moving forward, Nova Pharma intends to establish new offices overseas. 

Nova Pharma’s businesses for the past three financial years ended (“FYE”) 31 December 2015, 31 December 2016 and unaudited 31 December 2017 are mainly focused in Malaysia, Indonesia and Taiwan. 

The Company foresees a huge potential for the expansion of business in Taiwan as the Taiwanese Government is in the midst of transforming Taiwan into the biotechnology and medical Research & Development hub in Asia.

Nova Pharma also intends to set-up offices in countries where it has executed notable projects in the past such as Taiwan and Indonesia in the second half of 2019.

In addition to Indonesia and Taiwan, Nova Pharma may also consider having offices for other potential countries in South East Asia within 2020 to 2022.

The company intends to further expand through the provision of turnkey projects as part of its future plan.

“By venturing into turnkey projects, Nova Pharma will have better control of project implementation from pre-design to commissioning of the plants.

“We will take full responsibility for a project which is easier for our customer to manage and communicate with one provider. 

“We intend to embark into this business area ideally between 2020 to 2022 while we recruit more skilled technical personnel to manage the turnkey projects effectively,” he added. 

Based on the issue price of RM0.20 per ordinary share and the enlarged issued share capital of 149,009,507 ordinary shares, Nova Pharma will have a market capitalisation of RM29.80 million.

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