Penang: Pharmaniaga Bhd's wholly-owned unit, Pharmaniaga Logistics Sdn Bhd, has entered into a sale and purchase agreement with N H Development Sdn Bhd to acquire a property in Seberang Perai Selatan, Penang, for RM30 million.

According to BERNAMA News Agency, the pharmaceutical company stated in a Bursa Malaysia filing today that the property comprises a single-storey detached factory with a double-storey office building on 1.09 hectares (2.70 acres) of freehold land. This acquisition aligns with its obligation under the concession agreement signed with the Health Ministry on January 3, 2023.

The acquisition is also consistent with the company's strategy to expand its logistics and distribution capacity, particularly in the northern region of Peninsular Malaysia. This move aims to improve efficiency in serving customers and support future business growth. Pharmaniaga noted that the SPA is not expected to have any material effect on the group's earnings and earnings per share for the financial year ending December 31, 2025.