HONG Seng Consolidated Bhd has announced that Pantasniaga Sdn Bhd, a 51% owned subsidiary of HS Bio Supplies Sdn Bhd which in turn is a wholly-owned subsidiary of the group, has been awarded a RM34.25 mil COVID-19 test contract by the Health Ministry (MOH).
Yesterday, Pantasniaga received an instruction letter from the Institute of Medical Research to supply polymerase chain reaction (PCR) test kits for COVID-19 to the latter.
Pantasniaga is in the business of provisioning of PCR test kits as well as test labs set up for governmental and medical agencies. It has already performed and fulfilled a few supply contracts for Malaysian Government agencies to supply PCR test kits in Peninsula Malaysia and Sabah to fight the current pandemic outbreak.
Pantasniaga is also an authorised representative and distributor for BGI Genomics Co Ltd which is the world’s leading provider of genomic sequencing services and proteomic services in more than 66 countries.
Additionally, BGI also produces RT-PCR kits which are one of the most reliable and widely-used testing methods available globally.
“The latest contract received is another testament to our strong commitment to enabling safe and effective COVID-19 testing in Malaysia,” Hong Seng executive chairman Datuk Teoh Hai Hin said. “This is expected to contribute positively to the overall future earnings as well as the earnings per share of the group.”
Formerly known as MSCM Holdings Bhd, Hong Seng in addition to its existing business of search and advertising has expanded into various new pillars of business, ie a glove manufacturer, a medical and healthcare-related supply chain management specialist, and a financial services provider of moneylending facilities and hire purchase services.
Meanwhile, HS Bio Supplies is an integrated healthcare supplies company that offers a comprehensive range of medical and healthcare products and services that encompasses supplies of medical and healthcare-related products and services, test labs set-ups, mobile testing and diagnostic services in addition to the supply chain management services.
The company also owns 20% in eMedAsia Sdn Bhd, a company that runs www.emedasia.com, an e-health digital platform by KOOP MMA which aims to digitalise the private healthcare systems with access to potentially a network of 6,000 private clinics nationwide. HS Bio is in the midst of completing the additional 32% acquisition of eMedAsia.
At 9.55am, Hong Seng was up 3 sen or 2.5% to RM1.23 with 2.59 million shares traded, thus valuing the company at RM640 mil. – Feb 4, 2021
