KUALA LUMPUR: Pharmaniaga Bhd (Pharmaniaga) has appointed Ernst & Young (EY) as its new external auditor, effective Oct 9, 2024.
The company said EY is replacing PricewaterhouseCoopers (PwC), which resigned following a formal written notice served to the group on Sept 20, 2024.
Pharmaniaga's 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," he 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 one of the largest integrated pharmaceutical groups in Malaysia.
Its annual report for the financial year ended Dec 31, 2023, showed that Boustead holds 679.15 million shares, representing a 47.12 per cent stake in the company.
-- BERNAMA