Enviro- Hub Holding to become a leading integrated healthcare supplier in the region
Known for its recycling and glove-manufacturing business, Enviro- Hub is making its foray into B2C retail pharmaceutical outlets, R-Pharmacy, with the ambition of becoming a leading integrated healthcare supplier in the region.
Enviro-Hub, through its 40%-owned subsidiary, Pastel Care Sdn Bhd, is targeting to open 25 stores by end of this year, and 90-105 stores by 2024.
R Pharmacy’s mission is to make leading healthcare products more accessible to its customers. Established with millennials in mind, the retail pharmacy will focus on health supplements and medication brands that prioritise reliability. In-house pharmacists will be present at each retail store to provide tailored advice and premium services to customers. With its extensive product offerings, R Pharmacy aspires to position itself as the heartland pharmaceutical store of Malaysia.
The opening of R Pharmacy builds on Enviro-Hub’s ambition to become a leading integrated healthcare supplies player in the region. Last year, Enviro-Hub acquired Pastel Glove Sdn. Bhd. (“Pastel Glove”), a Malaysia-based glove maker with a production capacity of one billion gloves per annum. Enviro-Hub aims to grow the R Pharmacy brand to a total of 25 outlets across Malaysia by the end of the current financial year ending 31 December 2022. The expansion will likely be mainly funded using internal resources.
The opening of R Pharmacy reaffirms Enviro-Hub’s big push into the health supplies industry. In Feb 2022, the Group has recorded an earnings turnaround in FY2021 with a net profit of S$3.2 million, on the back of a 31% rise in revenue and expansion in gross margin to 22.8% in FY2021.
The increase in revenue is mainly due to the Group’s recycling business, which grew by 55% YoY on higher sales volume of trading and precious metal sales, as well as maiden contribution of S$1.6m newly acquired Pastel Glove. Beyond the demand generated by COVID-19, Pastel Glove will focus on specialized gloves, which will provide higher profit margins while ensuring demand from the niche segment of the glove market.