ACE Market-listed Kanger International Bhd’s is hopeful that affordability and accuracy of its revolutionary Sinopharm’s COVID-19 testing solutions that leverage the OXLAMP technology will receive strong market acceptance.
Yesterday (Oct 27), Kanger announced that its wholly-owned subsidiary, Kanger Medical International Sdn Bhd has inked a heads of agreement (HOA) with Sparmak Medical Equipment Trading LLC an authorised partner of G42 Medications Trading LLC to distribute the testing solutions in Malaysia.
Kanger is expected to make an initial purchase of one million units of the COVID-19 testing solutions and corresponding diagnostic devices as early as November this year.
“We are excited to be bringing in Sinopharm’s OXLAMP testing solutions to our Malaysian shores. They are already being used globally as a quick and effective way to detect COVID-19 cases,” commented Kanger’s executive director Joseph Wu Wai Kong.
“The OXLAMP testing method is easy to set up and does not need expensive equipment. Testing can be carried out on-site on a wide scale with results made available within 30 minutes.”
According to Wu, the OXLAMP testing solutions will decentralise COVID-19 testing efforts across the country, allowing improved access and shorter turnaround times.
This will enable more people to get tested, hence and curbing the infection spread through early detection.
The web-enabled testing devices allows for instant uploading of data to the relevant health applications and portals for easy and quick verification. As a result, the procedure will be fast and smooth.
This method is friendly for huge companies with large numbers of employees, notably factories, construction sites and shopping malls.
Wu is optimistic that the testing solutions will be in high demand as its market potential is promising.
The testing solution has achieved the highly acclaimed CE certification and has also been approved by the Ministry of Health & Prevention of United Arab Emirates (UAE) as well as the European Union (EU) Ministry of Health Welfare and Sports.
At the close of yesterday’s trading, Kanger closed 0.5 sen or 10% higher at 5.5 sen with 20.35 million shares traded, thus valuing the company at RM329 mil. – Oct 28, 2021
