Pharmaniaga Berhad (Pharmaniaga) signed a Memorandum of Understanding (MoU) with JDMAS Commerce Sdn Bhd (JDMAS) to market Pharmaniaga’s over-the-counter (OTC) and eventually pharmaceutical products in China with the support of JDMAS through JD.com.
JDMAS as the official partner of China’s largest and the world’s third largest online retailer, JD.com was established and recognised by various agencies such as Malaysia Trade Development Corporation (MATRADE), Ministry of International Trade and Industry (MITI) and supported by Malaysia China Business Council (MCBC) and Malaysian Digital Economy Corporation Sdn Bhd (MDEC). JDMAS is the only Malaysia National Pavilion recognised by the Malaysian Government and holds key Account or Flagship Store Statues by JD.com.
The MoU was signed by Pharmaniaga Group Managing Director Datuk Zulkarnain Md Eusope and JDMAS Managing Director Dato’ Bruce Lim, witnessed by Pharmaniaga Chairman Datuk Seri Zainal Abidin Mohd Rafique and Malaysia China Business Council Executive Director Datuk Yong Teck Shing.
Datuk Zulkarnain said, “The collaboration between Pharmaniaga and JDMAS is part if our strategy to enter the China market, especially in consumer and wellness business. We aim to build a strong and sustainable strategic business partnership that benefits both parties.
The collaboration between the two parties is expected to increase the current revenue of the star OTC products by 100% to 150% in the first year with expected revenue projection to reach an estimated of USD 30 million by 2025 with other products being introduced in the dynamic JD.com platform.