Hong Seng secures RM34.3mil PCR test kits supply contract from MoH

By NST Business - February 3, 2021 @ 7:42pm

KUALA LUMPUR: Hong Seng Consolidated Bhd's subsidiary Pantasniaga Sdn Bhd, a 51 per cent owned subsidiary of HS Bio Supplies Sdn Bhd has secured RM34.3 million contract from Health Ministry (MoH).

In a statement today, Hong Seng said it has received an instruction letter to supply polymerase chain reaction (PCR) test kits for Covid-19 to the Institute of Medical Research.

Pantasniaga is in the business of provisioning of PCR test kits and test labs set up for the government and medical agencies.

The company is also an authorised representative and distributor of BGI Genomics Co Ltd, which is the provider of genomic sequencing services and proteomic services, now serving customers in more than 66 countries.

BGI also produces RT-PCR kits which are one of the most reliable and widely-used testing methods available globally.

Hong Seng executive chairman Datuk Teoh Hai Hin said the latest contract received is another testament to the company's strong commitment to enabling safe and effective Covid-19 testing in Malaysia.

"Previously, Pantasniaga has already performed and fulfilled a few supply contracts for government agencies to supply PCR test kits in Peninsula Malaysia and Sabah to fight the current outbreak," he said.

He said the contract is expected to contribute positively to the overall future earnings as well as the earnings per share of the group.

HS Bio Supplies is an integrated healthcare supplies company providing 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 per cent in eMedAsia Sdn Bhd, a company that runs 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 per cent acquisition of eMedAsia.