VERY few corporate developments have been brewing at Dataprep Holdings Bhd since 1Q 2021 when the company, which carries the distinction of being the first Malaysian IT company to be listed on Bursa Malaysia in 1991, soared to an all-time high of RM4.13 on March 16 this year.
Ever since then, Dataprep has been on a downward spiral which culminated in a consolidation phase with its share price currently hovering in the 85 sen to RM1 range.
Not many corporate activities have been associated with the company till today’s announcement that its subsidiary Dataprep Asia Sdn Bhd has been officially appointed by Asia Coding Centre Sdn Bhd as the exclusive project delivery partner for COVID-19 rapid molecular testing using molecular diagnostics equipment under the MiCo BioMed brand.
Based on stock exchange filing, the appointment was sealed via a letter of appointment dated Dec 22 to commence the COVID-19 Screening RT-PCR Rapid Molecular Testing trial run at existing Health Ministry’s (MOH) sites, specifically at main international entry points such as the Kuala Lumpur International Airport (KLIA); KLIA2; Langkawi International Airport; Senai (Johor) International Airport and the Tambak Johor (Causeway).
The deployment of COVID-19 Screening RT-PCR Rapid Molecular Testing which follows the letter of consent received from the MOH on Dec 14 shall cover the registration, sampling and testing until the issuance of the testing result.
“This initiative would be in line with the Government’s plan to open the country’s borders for foreign travellers, which is important to revive the economic activities, especially the tourism sector, international conventions, retail and others as well as facilitate business travellers and social visitors coming into the country,” commented Dataprep’s Group managing director Mohamad Sabir Mohamad Sabri.
“We are prepared to provide the support to the Government in the process of opening the country’s borders, and confident that it can be implemented efficiently and safely.”
Barring any unforeseen circumstances, deployment of the MiCo BioMed COVID-19 rapid molecular testing using Dataprep’s molecular diagnostics equipment is expected to contribute positively to the company’s earnings per share (EPS) and net assets per share for the financial year ending Dec 31, 2022 and beyond.
At 3.07pm, Dataprep was down 2 sen or 2.34% to 83 sen with 23.07 million shares traded, thus valuing the company at RM560 mil. – Dec 23, 2021
