KUALA LUMPUR (Oct 10): Pharmaniaga Bhd (KL:PHARMA) has appointed Ernst & Young (EY) as its new external auditor, effective from Wednesday, Oct 9.
The company said EY is replacing PricewaterhouseCoopers, which resigned following a formal written notice served on the group on Sept 20.
Pharmaniaga managing director Zulkifli Jafar said the appointment aligns with Boustead Holdings Bhd's initiative to consolidate external audit functions across the group.
“Given EY’s extensive familiarity with our operations and businesses, they are a natural fit for this role,” the MD said in a statement on Thursday.
Zulkifli further noted that as Pharmaniaga advances its strategic initiatives and business plans, EY’s appointment will ensure seamless alignment across all subsidiaries within the Boustead group.
Pharmaniaga is reportedly one of the largest integrated pharmaceutical groups in Malaysia.
Its annual report for the financial year ended Dec 31, 2023 showed that Boustead held 679.15 million shares, representing a 47.12% stake in the company.
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