AGAINST the backdrop of a subdued property market, Tiger Synergy Bhd has turned its attention to riding on a boom in consumer health product within Malaysia and ASEAN as consumers becoming more health-conscious following the COVID-19 pandemic outbreak.
Yesterday (Sept 16), Tiger Synergy inked a memorandum of understanding (MOU) with Razally Affandy Abdul Rahim to purchase a majority interest in OHGA Yakkyoku (M) Sdn Bhd, a company involved in the wholesale of pharmaceutical and medical goods.
OHGA Yakkyoku Malaysia has a pharmaceutical master license agreement with OHGA Corporation Co Ltd which is fully authorised and empowered by its parent company OHGA Pharmacy Co Ltd to supply its products in Japan and outside of Japan.
In this regard, OHGA Pharmacy and Tiger Synergy will work together to make Malaysia a hub for its pharmacy franchise expansion into ASEAN. Both parties target to set up 200 OHGA Pharmacy retail outlets over the next three years in ASEAN.
“The initial plan of our collaboration is to open OHGA pharmacy retail outlets in Malaysia, thus making Malaysian a hub for our expansion into ASEAN,” commented Tiger Synergy’s managing director Shirley Tan Lee Chin.
“This marks an exciting venture for OHGA Pharmacy from a pharmacy chain towards OEM manufacturing and towards digital health ecosystem as the Malaysian and ASEAN population is now fully aware of the global pandemic gradually becoming endemic.’
Tan further noted that the collaboration takes advantage of the shifting trend and ageing population in ASEAN.
“OHGA’s experience in Japan whereby the country has the highest density of pharmacists and drugstores among Organisation for Economic Co-operation and Development (OECD) countries will help to improve the overall experience at our pharmacy retail outlets,” envisages Tan.
“Our target is to open 200 OHGA pharmacists in ASEAN over the next three years.”
With OHGA Pharmacy’s proven track record in Japan and Tiger Synergy’s wide network in Malaysia and ASEAN, the collaboration also aims to disrupt retail outlet stores.
In Malaysia, Angkasa Koperasi Kebangsaan Malaysia Bhd and Teraju X Holdings Sdn Bhd are interested to be Tiger Synergy’s strategic partner by leveraging their vast network of cooperatives.
OHGA Pharmacy which has a century strong track record in Japan currently runs 109 pharmacists and drugstores in Japan (predominantly in Fukuoka and Osaka) with annual sales of more than 26 bil yen (RM1 bil).
OHGA Pharmacy is also not new to creative marketing with the launch of its very own figurine, mascot and pharmacy superhero “Ohgaman”. The company has managed to create a viral Japanese edutainment series known as Dogeengers whch features “Ohgaman”.
The TV series has already made its way to the Malaysian TV scene. At the close of today’s trading. Tiger Synergy was up 0.5 sen or 11.11% with 35.99 million shares traded, thus valuing the company at RM129 mil. – Sept 17, 2021