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Jardin Pharma Berhad

Jardin Pharma Berhad (JPB) (1418172-K) was incorporated in Malaysia under the Companies Act 2016 on 11th May 2021 as a public company. JPB exists to fill the gap in the pharmaceutical industry and to deliver halal, innovative, effective, safe and eco-conscious pharmaceuticals, nutraceuticals and cosmeceuticals that are proudly made in Malaysia. JPB takes pride in combining nature and science to create novel products using cutting-edge technology. JPB aims to be the world's leader in Halal eco-pharmaceutical brands. JPB is undeniably dedicated to the health and vitality of your whole family.

  • Primary supplier for medicines to MOH nationwide, under the Adoption Scheme awarded by MOH & MOF 
  • Management with extensive experience in the medical & pharmaceutical industries
  • Forecasted revenue to increase 5X to RM40 million in the next 5 years

Pre-Live Campaign
Min Target RM 1,000,000
Max TargetRM 10,000,000
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Understanding the Risks - Key Disclosures for ECF Investors into Jardin Pharma Berhad

In September of 2022 Jardin Pharma Berhad (Jardin) acquired 100% of Xorix Sdn Bhd (Xorix), a troubled pharmaceutical manufacturing company that has the rare distinction of possessing Skim Anak Angkat (issued by the Ministry of Finance). In addition to all the other regulatory requirements needed to manufacture and supply certain pharmaceutical products to the Ministry of Health. Under this adoption scheme, Xorix has privileges and more access in providing a wider range of pharmaceutical products to the Ministry of Health.

Though your investment would be in Jardin, it is the intention of the management to utilize the funds raised, for improving the performance and unlocking the value of Xorix.

To navigate this, the new management has to address some financial issues, specifically an existing debt with SME Bank. The amount in question now stands at RM6 million as Jardin has successfully negotiated it down from an original outstanding amount of RM15 million. The funds were utilized to purchase machines and equipment for an additional production line. The new management has entered into discussions (still ongoing), with the bank, to restructure this reduced debt amount. .

The new management is of the view, given the current positive business environment, growing demand, and unlocked potential with Skim Anak Angkat, that the opportunity for Xorix, and hence Jardin, lies in getting the additional production line running as soon as possible to increase its revenue thus allowing for the comfortable servicing of all obligations.

To support this assertion is that since the acquisition, and still running on just one production line, Xorix has increased its capacity by more than 170%, whilst obtaining the approval from the Ministry of Health for the production of an additional 5 SKU’s which would significantly increase revenue based on initial indicated orders.

What we have also noted is that under the new management of Jardin, active efforts are being made to enhance governance and reporting procedures of Xorix. This includes a focus on improving transparency and accuracy in financial reporting. Jardin is working closely with its auditors to ensure that the 2022 audited financial statements provide a true and fair view of the company's financial position.


Key Disclosures

Specifically, we would like to draw your attention to the risks associated with this investment.

Firstly, based on representation by the Issuer, the funds raised from ECF will be fully utilized 100% by Xorix for the purpose of operationalizing the new production line to meet the new orders the company continues to obtain. Key to the success of this plan would be the successful negotiations with SME Bank on the debt restructuring.

Secondly, we note an Auditor's Disclaimer of Opinion on 2021 Audited Financial Statement and hence before the company was acquired. Again, the new management is taking steps to address all matters with regards to the financial health of the company as has engaged an experienced Finance Director to lead these efforts.

We nonetheless still encourage you to carefully review all available information, including the Issuer's business plan, financial statements, and any other relevant documents, before committing any funds. In case of any doubts or queries, please do not hesitate to reach out to us or seek independent professional advice.



Jardin Pharma Berhad (JPB) (1418172-K) is a newly established pharmaceutical company that researches, develops, manufactures and distributes innovative, effective, safe and environmentally conscious halal medicines, nutraceuticals and cosmeceuticals to improve the inadequate market presence of local pharmaceutical manufacturers. JPB supplies its product to the Malaysian Ministry of Health Malaysia for public healthcare sector through a concession contract; Bumiputera Adoption Scheme. JPB also supplies its products to the local private healthcare sector while exploring the global pharmaceutical market to expand the market.

Research and development is conducted by its in-house research team and through strategic industry-academia collaboration with two local universities, the International Islamic University of Malaysia (IIUM) and the University Teknologi Malaysian (UTM). As part of the collaboration with IIUM, the Jardin Pharmabiotic Research Centre was established in 2022 to conduct research on probiotics for pharmaceutical purposes and has published a number of high-impact journals.

Commercial manufacturing is carried out in 3 different categories of branch factories. The pharmaceutical factory is located in Dungun Terengganu (Xorix Sdn Bhd). The medical devices and cosmetics factory is located in Alor Setar Kedah (The Luxe Production Sdn Bhd), while the food technology factory is located in Senai Johor. These factories are used to manufacture private label brands as well as perform contract research and manufacturing for external brands. The Luxe Production manufactures several indigenous natural and safe skin care and personal care brands, including Mary Jardin and Honey Olive Baby. Three branches of Mary Eve Clinics, which focus on women's health, are also part of JPB.

JPB also offers an affiliate programme to build an extensive distribution network in Malaysia. Affiliates, distributors and end users register online and order products through JPB's WebApp platform, Herbitus.com. JPB is changing the landscape of the Malaysian pharmaceutical market by focusing on online commerce that enables easy product access and market expansion beyond local customers while complying with pharmaceutical regulations set by local authorities. In terms of global marketing, JPB has signed MoUs with various global distributors to export its products to Brunei, Indonesia, Cambodia, Macau, Maldives, Kenya andthe MENA region.

In 2022, JPB has achieved a turnover of RM8 million. In the first three months of 2023, JPB has received an order worth RM3 million. By the end of 2023, JPB is targeting sales of over RM15 million. With the hope of raising RM10 million to fund R&D and working capital, JPB aims to reach RM35 million in annual sales after 5 years.

What We Do

The Challenge

Malaysia is an upper middle-income country that is a highly attractive investment destination for the life sciences and healthcare sector, which can be broadly divided into four categories, namely pharmaceuticals, biotechnology, healthcare, and medical devices. However, according to the United Nations COMTRADE database on international trade, Malaysia is still a net importer of pharmaceutical products with an import value of US$2.74 billion in 2021, and the share of local manufacturers of generic drugs is only 30%, insufficient to meet market demand, while the rest is covered by imports (ASEAN Briefing, 2023). Malaysian drug manufacturers are highly dependent on imported active pharmaceutical ingredients (APIs), excipients, and even packaging materials to formulate drugs.

To remain competitive, they are expanding their capacity in the niche segment of halal pharmaceuticals. However, the halal pharmaceutical industry involves complex supply chains and manufacturing processes that require strict compliance with halal standards, which can be a time-consuming and costly process. In addition, Malaysian pharmaceutical manufacturers are small in terms of sales compared to multinational corporations (MNCs) that import medicines into Malaysia. MNCs from developed countries also do not have manufacturing facilities in Malaysia. Small and medium-sized pharmaceutical companies typically have difficulty accessing financing, which can limit R&D activities, product development, and business growth. Malaysian pharmaceutical manufacturers also produce generic drugs instead of patent-protected originator drugs because the technology to produce a new drug is limited.

Our Solution

We research, develop, manufacture and distribute Halal-certified pharmaceuticals, nutraceuticals and cosmeceuticals by using locally sourced botanical ingredients to formulate our own Malaysian-made products. We also provide OEM contract services to help other local Malaysian companies manufacture their own brand of pharmaceuticals, nutraceuticals and cosmeceuticals. To achieve this, we employ highly qualified local scientists, pharmacists, medical professionals and sales managers who understand the global halal pharmaceutical market. We also work closely with local and international suppliers to provide gold-standard medicines for the local market gaps

Why Are We Different

Our subsidiary company, Xorix Sdn. Bhd. is one of the biggest skin OTC product manufacturers in Malaysia. Instead of using chemical synthesis, we mainly use locally sourced plant-based ingredients to formulate our halal pharmaceutical products using the company's expertise in galenical pharmacy. Xorix Sdn. Bhd. also becomes the first halal-certified bumiputera-owned pharmaceutical company that formulates Paracetamol syrup and suspension. Currently, there are nine pharmaceutical products in our R&D pipelines. JPB also is building the first halal bacterial farm and Liposomal centre in Malaysia as a result of a strategic collaboration with IIUM and UTM

Our Revenue Model

Our main business model is direct sales to both public and private hospitals, clinics, and pharmacies. Our company was selected by the Ministry of Health Malaysia to be one of the bumiputera companies that was adopted into MOH scheme to distribute pharmaceuticals to the MOH facilities throughout Malaysia, as part of MOH’s initiative to boost business growth of local Malaysian pharmaceutical manufacturers.

We also offer a merchant program to owners of private hospitals, clinics and pharmacies who can sell our products at their brick-and-mortar stores and affiliate program to individuals who don’t own a store but can sell our products by using direct selling or dropshipping models. We also have our own WebApp platform, Herbitus.com to sell our products directly to our customer base. To enter the export market, we collaborate with various global institutions like WHO and UNICEF and with international distributors to sell our products to other countries. As to date, we have signed multiple Memorandums of Understanding (MoUs) with international distributors from Kenya, Indonesia, Brunei, Maldives, Cambodia, Macao and Kingdom of Saudi Arabia to strengthen JPB's export portfolios.

Our Market Opportunity

Malaysia has been globally recognized for having pioneered the halal standards and certification scheme since the early 70s. Malaysia also is the market leader in halal pharmaceuticals after being a pioneered country to establish a new Halal Pharmaceutical Standard (MS2424:2012). This standard allows pharmaceutical product manufacturers to apply for halal certification and established fundamental standards for the manufacturing and handling of goods, including pharmaceutical products in finished dosage forms, including both prescription and over-the- counter medicines for human use (examples include biopharmaceuticals, traditional medicines, and investigational medicines) that are registered with the Drug Control Authority, Ministry of Health. According to Adroit Market Research (2023), the global halal pharmaceutical market will reach USD174.59 billion by 2025 with Asia Pacific as the region with the largest Muslim population.

An aging population, rising non-communicable diseases including diabetes, hypercholesterolemia, and hypertension, as well as other related medical disorders, are driving up demand for pharmaceuticals in Malaysia. The Malaysian pharmaceutical market was valued at USD2.9 billion in 2020, per a recent analysis by Global Data (2022). From 2013 to 2020, the market increased ata CAGR of more than 9% with generic, biologic, biosimilar, and over-the-counter (OTC) medications being the major product categories. Under KKM Adoption scheme, Jardin Pharma Berhad is given a priority to supply pharmaceutical products to the government health facilities throughout Malaysia. Government annual procurement is up to RM2.3 billion.

Our Strategy

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Our Achievements

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Indicative Usage of Funds

Jardin Pharma Berhad

The majority of the fund RM6 million (60%) will be allocated to complete our R&D pipeline and production facility. Currently, there are nine pharmaceutical products are still in the R&D stages. We will use the fund to purchase machineries, active pharmaceutical ingredients (APIs) and excipients from trusted global suppliers. We also source our raw materials from local suppliers to formulate our products.

A total of RM4 million (40%) will be allocated for working capital to produce the medicine in order to cater for government and market demands.

The Team

Maryam Aziz

Dr. Maryam Aziz | Group CEO

  1. Experience

    1. Honey & Olive Baby

      1. 2019 - Present

      2. Founder/ Director, Shah Alam

    2. Mary Eve Clinic Jitra & Mary Eve Clinic Setia Alam

      1. 2019 - Present

      2. Founder/ Director, Medical Officer,

    3. Mary Jardin (Retail Store & Medispa) 

      1. 2016 - Present

      2. Founder/ Director, Shah Alam

    4. Klinik Kesihatan Bandar Kuala Krai

      1. Nov 2014 - Aug 2016

      2. Klinik Kesihatan, Kuala Krai Kelantan

      3. Medical Officer in Outpatient Department and

      4. Mother Child Clinic

    5. Dermatology Clinic, Hospital Sungai Buloh

      1. March 2014 - Nov 2014

      2. Derm Clinic, Sungai Buloh

      3. Medical Officer

    6. Hospital Sungai Buloh

      1. March 2012 - March 2014

      2. Housemanship Training, Sungai Buloh

      3. Houseman UD41, completed all 6 department

  2. Education

    1. Master in Science (Healthy Aging, Medical Aesthetics and Regenerative Medicine)

      1. UCSI University, Kuala Lumpur

      2. 2020 - Present

    2. MBBS 

      1. International Islamic University Malaysia, Kuantan

      2. 5-year course, Passed without Resit/ Repeat - 2006 - 2011

Yasir Ayeop | COO

Yasir Ayeop bin Azizuddin | COO

An engineer with more than 10 years experience in running businesses. He has built and ran multiple companies in personal care, healthcare and pharmaceutical sectors. He is also an expert in global sourcing, industrial machineries setup and lean operations.


  1. Mary Jardin (Retail Store & Medispa) 

    1. 2016 - Present

    2. Founder/ Director, Shah Alam


  1. IIUM - Bachelor's Degree Mechanical Engineering (2011 - 2017)

Azizi Ayob

Prof Dr Azizi Bin Ayob

An academician with 24 years of working experience in healthcare, pharmaceutical, research and development. He has been working with two top pharmaceutical companies in ASEAN since 2006, and has been appointed as a Pharma Auditor Associate by SQA Los Angeles, United States. He has a certification in international project management (CIPM) in healthcare project and business development.




    1. JARDIN PHARMA BERHAD, Subang Selangor 

    2. XORIX Sdn Bhd, Dungun Terengganu. 



    1. University College MAIWP International (UCMI), Kuala Lumpur, Malaysia 




Medical Degree (MD, UKM) 1997 

▪ Doctor of Philosophy (PhD Pharmacology) International Islamic University Malaysia (IIUM) 2004 

▪ Diploma in Islamic Studies (DIS) International Islamic University Malaysia (IIUM) 2007 

▪ CIPM (Certificate of International Project Management) 2010 

▪ Certified GCP Trainer by NCCR/NPRA 2014 - present 

Zamri Omar

Mohd Zamri Bin Omar | Head of Sales

A pharma sales expert with 2 years of working experience as a Senior Sales Manager at ROCHE Malaysia and 9 years of working experience as a Senior Manager at International Sales Department of Pharmaniaga Berhad.


  1. Jardin Pharma Berhad - Head of Sales

    1. 2022 - Present

  2. Pharmaniaga Berhad - Senior Manager

    1. 2013 - 2022

  3. Roche Pharma - Senior Sales Manager

    1. 2011 - 2013


  1. Bachelor of Sciences (Honours) - Biomedical Sciences

    1. University of Bradford (UK) - Major in Pharmacology

    2. 1994 - 1996

Johary Rejab

Johary Bin Rejab | General Manager of Business Development

A global pharma sales expert with 7 years of working experience with the World Health Organization (WHO) in managing procurement of pharmaceuticals, vaccines, kits & diagnostics for WHO Country Offices, worth at USD25 million. He also has a solid 7 years of experience as a Senior Regulatory Affairs Manager at Roche Malaysia Sdn Bhd with a responsibility to register and handle regulatory matters for ROCHE pharmaceutical products that covers ASEAN countries including Malaysia, Laos, Cambodia & Vietnam.


  1. WHO - Procurement Officer

    1. 2013 - 2022

  2. Neu-Bio - Business Development Manager

    1. 2009 - 2013

  3. Satang Biotech - Business Development Manager

    1. 2008


  1. Bachelor of Sciences (Honours) - Biomedical Sciences

    1. University of Bradford (UK) - Major in Pharmacology

    2. 1994 - 1996

Quzaireel Ismail

Mohd Quzaireel Bin Ismail | Sales & Marketing Manager

A marketing expert with a sales achievement record at RM2.5m per month. Currently, he was appointed as Associate Director of Kuala Lumpur City Football Club. He is also involved in the HORECA program that focuses on increasing sales for all Makro Cash & Carry (M) Sdn. Bhd. (FMCG) branches throughout Malaysia. He also has received The Legendary Award from Starbucks International Officer for being the best store in Malaysia.


  1. Berjaya company sdn bhd (2002 - 2004) - Supervisor 

  2. Makro cash & carry (2006 - 2009) - Business Development Executive

  3. Maqrifatun world sdn bhd (2007-2007) - Marketing Officer 

  4. Berjaya company sdn bhd (2009 - 2015) - Store Manager 

  5. Rangkaian bersatu enterprise (2015 - 2019) - Business Development Manager 

  6. Emax beaute international (2022 - present) - Area Manager 



  1. Universiti of Malaysia Pahang (UMP- degree on food security management)

Khairul Muzammil Bin Yusuf

Khairul Muzammil Bin Yusuf | CFO

A financial expert with 30 years of financial and strategy development experiences in services, engineering, construction and mining industries locally and internationally. From 1992 to 2007, he held various accounting positions in MMC/MMCEG Group. From 2007 to 2013, he was the Finance Director for a multinational mining company in Indonesia, PT Koba Tin. He was reporting directly to the President Director and responsible for the overall financial, statutory reporting and IT functions.


  1. PT Koba Tin (Indonesia)  - Finance Director 

    1. 2006 - 2014

  2. MMC Oil & Gas Engineering, Finance Manager

    1. 2000 - 2006

  3. MMC Engineering Services - Management Accountant 

    1. 1995 - 1999


  1. Diploma in Accountancy - Institut Teknologi MARA, Shah Alam in 1982

  2. Advanced Diploma in Accountancy - Institut Teknologi MARA, Shah Alam in 1985

  3. Member of the Malaysian Institute of Accountants in 1988

Rahman Baco

Rahman Bin Baco | Special Project Manager

A registered pharmacist with 15 years of working experience in pharmaceutical regulatory, pharmacy enforcement division and community pharmacy. He is the founder of Pharmacap Group Sdn Bhd, a group of community pharmacist that focus on development of a pharmacy online platform. He is specialised in halal medicine, with extensive experience working with NPRA and Regulatory Pharmacy.


  1. 5 years - Regulatory Pharmacist, Quality Control Centre

    1. National Pharmaceutical Control Bureau

  2. 4 years - Pharmacy Enforcement Officer, Consumer Awareness Section,

    1. Pharmaceutical Services Division, Ministry of Health Malaysia.

  3. 3 years - Community Pharmacist, Farmasi Amal Medik

    1. Petron Bandar Baru Pasir Pekan, Kelantan.


  1. Bachelor of Pharmacy (Hons), International Islamic University Malaysia (2006)

Term Sheet

Risk Disclaimer

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