Posted by paperplane2016 > 2017-01-09 15:30 | Report Abuse

screw up mgt, screw up stock. forget and move on

Posted by noah > 2017-01-09 19:11 | Report Abuse

Hovid Berhad (“Hovid”) wishes to announce that Hovid has received a letter from the Pharmaceutical Services Division of the Ministry of Health (“PSD”) on the revocation of our Manufacturing Licences (“Revocation”) via facsimile on 9 January 2017 at 8.58 a.m.



Arising from the audit conducted by National Pharmaceutical Regulatory Department (“NPRA”) on 5 January 2017, PSD issued the letter to revoke both the Manufacturing Licences for our facilities located at Lot 56442, 7 ½ Miles, Jalan Ipoh/Chemor 31200 Chemor Perak and Lot 121, Jalan Tunku Abdul Rahman (formerly Jalan Kuala Kangsar), 30010 Ipoh, Perak. Consequently, all our manufacturing activities are halted with immediate effect today. The revocation was based on the following audit findings:-



Current Good Manufacturing Practice (“cGMP”) compliance are not acceptable, and
Pharmaceutical Quality System does not comply with the latest cGMP requirements.

Hovid targets to revert with the necessary corrective actions to comply with cGMP required by NPRA by end of January 2017, and will invite the NPRA to audit our facilities and cGMP immediately thereafter. The re-issuance of the licences will be subject to NPRA being satisfied with the outcome of their audit.



However, our distribution subsidiaries in Malaysia, Hong Kong and the Philippines will continue to market and sell the existing stocks held by them respectively.



This announcement is dated 9 January 2017.

Posted by noah > 2017-01-09 19:11 | Report Abuse

free trip to holland

Posted by Kai Shien Ks > 2017-01-09 19:11 | Report Abuse

REVOCATION OF MANUFACTURING LICENCE

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5309705

Posted by Kai Shien Ks > 2017-01-09 19:12 | Report Abuse

Arising from the audit conducted by National Pharmaceutical Regulatory Department (“NPRA”) on 5 January 2017, PSD issued the letter to revoke both the Manufacturing Licences for our facilities located at Lot 56442, 7 ½ Miles, Jalan Ipoh/Chemor 31200 Chemor Perak and Lot 121, Jalan Tunku Abdul Rahman (formerly Jalan Kuala Kangsar), 30010 Ipoh, Perak. Consequently, all our manufacturing activities are halted with immediate effect today. The revocation was based on the following audit findings:-


- Current Good Manufacturing Practice (“cGMP”) compliance are not acceptable, and
- Pharmaceutical Quality System does not comply with the latest cGMP requirements.

Posted by SuperLaber > 2017-01-09 19:19 | Report Abuse

Kia lat, how many license does Hovid holds including this one? How big is the impact towards the whole group?

Posted by 兄弟 bin HengTai > 2017-01-09 19:39 | Report Abuse

GG..

Posted by noah > 2017-01-09 19:48 | Report Abuse

the impact will be very substantial if they are unable to get back the manufacturing license.
as all manufacturing process had been halted.

if managed to get back the license, probably suffer from revenue loss due to unable to manufacturing the products in the period when license revoked.

Posted by Si Min Tan > 2017-01-09 19:51 | Report Abuse

omg gg liao those holding it must cry

Posted by valuelurker > 2017-01-09 20:18 | Report Abuse

Who's catching knives tomorrow.......

Posted by small_investor > 2017-01-09 20:32 | Report Abuse

Cialat .. such a good prospect company gone because of 1 batch mistake..

Posted by pang72 > 2017-01-09 20:32 | Report Abuse

life is not easy hur!!

Posted by John Lu > 2017-01-09 20:33 | Report Abuse

This round hovid KO

Posted by taitaumau > 2017-01-09 20:34 | Report Abuse

Based on the latest announcement, chi pai ung ngai jiak lak liow

- revocation of our MANUFACTURING LICENCES
********
- Consequently, ALL our manufacturing activities are halted with
*******************************************
IMMEDIATE EFFECT TODAY
**********************
Any other licence stays valid ?
Any possibility/how long needed to get back revoked licences ?

Posted by Johnnys > 2017-01-09 20:35 | Report Abuse

PN17 soon, jialat lor, But I don't have it.

Posted by Ehl1964 > 2017-01-09 20:35 | Report Abuse

Image damaged. Need very long time to recover consumers confidence.

Posted by small_investor > 2017-01-09 20:37 | Report Abuse

David Ho should issue a assurance to investor lah !! Else all gone become 0.1 stock

Posted by joannelim > 2017-01-09 20:41 | Report Abuse

crisis always have oppounities

Posted by shareinvestor88 > 2017-01-09 20:43 | Report Abuse

Sell .... 5c soon

Posted by hohoho > 2017-01-09 20:51 | Report Abuse

mati mati ......

Posted by kk123 > 2017-01-09 21:04 | Report Abuse

wtf..
http://www.thestar.com.my/business/business-news/2017/01/09/hovids-manufacturing-licences-revoked/

Posted by hornbill > 2017-01-09 21:05 | Report Abuse

limit drop tomorrow

Posted by kk123 > 2017-01-09 21:08 | Report Abuse

Hovid is one of the brand that made malaysia proud..
Even at overseas i can see hovid brand generic pills given by doctor..
pharmaniaga will benefit..
Wtf

Posted by small_investor > 2017-01-09 21:11 | Report Abuse

Yup HOVID tocovid is their own RD product !!! So proud of this company

Posted by Invest_168 > 2017-01-09 21:24 | Report Abuse

I think the company did not handle the audit with 100% good care and may not sensitive enough to respond thus cause audit failed and license revoked! Unless the audit was done on the spot without prior notice!

Posted by MrPauper > 2017-01-09 21:25 | Report Abuse

At least 5% drop tomorrow? Anyhow, there is always an opportunity for some gain when others lose and give up

Posted by leelc99 > 2017-01-09 21:25 | Report Abuse

KUALA LUMPUR (Jan 9): Pharmaceuticals company Hovid Bhd has ceased all manufacturing activities at its Perak facilities after the Health Ministry revoked its manufacturing licences today over a compliance issue.

Posted by MrPauper > 2017-01-09 21:25 | Report Abuse

Stay strong !

Posted by greatful > 2017-01-09 21:29 | Report Abuse

so surprise such so called "potential" counter get into big trouble.

Posted by kkchoo79 > 2017-01-09 21:30 | Report Abuse

Stay weak from tomorrow onward.

Posted by TomyamGong > 2017-01-09 21:33 | Report Abuse

Big trouble for Hovid. OmG!!

Posted by kk123 > 2017-01-09 21:33 | Report Abuse

They shld move their operations overseas to vietnam or cambodia..

Posted by greatful > 2017-01-09 21:33 | Report Abuse

not every opportunity is a good opportunity.

Posted by whyisme > 2017-01-09 21:36 | Report Abuse

matilah esok

Posted by kk123 > 2017-01-09 21:42 | Report Abuse

Tomoro can scoop up some cheap shares...

Posted by manji > 2017-01-09 21:49 | Report Abuse

my condolences...

Posted by whyisme > 2017-01-09 21:50 | Report Abuse

tomoro maybe can buy at RM0.15

Posted by gohkimhock > 2017-01-09 21:56 | Report Abuse

a very sharp knife is falling. So don't try to be smart trying to time and catch it. Wait for the momentum to finish first.

Posted by Ehl1964 > 2017-01-09 21:58 | Report Abuse

not die so fast. If end of Jan audit fail again then die immediately.

Posted by gohkimhock > 2017-01-09 22:00 | Report Abuse

definitely it will open below 30sen. Anything above 30sen is a golden opportunity to sell.

Posted by Ehl1964 > 2017-01-09 22:03 | Report Abuse

Agree.

Posted by moneySIFU > 2017-01-09 22:21 | Report Abuse

It reminds me the High-5 bread story of Silver Bird, the factory was ordered to close with immediate effect after the investigation. It hurts not only financially, but image & reputation greatly.

http://www.theedgemarkets.com/my/article/high-5-we-had-no-choice-close-down

Posted by comebackisreal > 2017-01-09 22:25 | Report Abuse

I was abit lucky to cut loss as I saw it is a fake rally ard 0.36

Posted by John Lu > 2017-01-09 22:27 | Report Abuse

Years ago Carotech drag Hovid into P17

Now licience revoke

The management team are lousy!! 百年老字号， 一代不如一代

Posted by gabriel1985 > 2017-01-09 22:31 | Report Abuse

The cGMP system is not in place. Few departments such as production, QC and QA did not play their roles well in ensuring the quality of the system. Confidence gone in this case. They still have to face few more issues after this, branding, tender supply and so on. Such a huge loss which is hard to be recovered in short time.

Posted by gift > 2017-01-09 22:33 | Report Abuse

free fall 30% to 0.345x0.70 = 0.24

Posted by abduljabbar85 > 2017-01-09 22:34 | Report Abuse

DOWN DOWN DOWN BABY DOWN DOWN. PANIC SELL PANIC PANIC PANIC

Posted by younginvestor92 > 2017-01-09 22:48 | Report Abuse

Lets go sell!!!

Posted by Skliew > 2017-01-09 22:50 | Report Abuse

Net asset per share as of 30-09-2016 is 25.32 Sen, would this lend some support? My empathy with the shareholders. :(

Posted by VCBL > 2017-01-09 22:51 | Report Abuse

Big wok tomorrow and beyond