India's Ranbaxy Wants Majority Malaysian Stake

20 August 1995

Indian pharmaceuticals group Ranbaxy Laboratories is seeking to increase its stake in its joint-venture company in Malaysia to 51%, according to its chairman, Parvinder Singh.

Dr Singh said that his company plans to venture into bigger markets and become a "research-driven player internationally," and had to increase its Malaysian interests to make these expansion plans viable. He added that his company was currently waiting for a decision from the government on the equity increase in Ranbaxy (M) Sdn Bhd to 51%.

If foreign participation can be increased, he noted, "we can look to more exports from Malaysia." Exports from Malaysia to Singapore, Vietnam and Papua New Guinea - in the form of capsules, tablets, suspensions and formulations - account for 15% of Ranbaxy Malaysia's turnover, which is forecast to reach 11 million ringgit ($4.5 million) in 1995.

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