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THE HEALTH | MAY , 2021
| Local News |
Bintai buys Johnson Medical for RM50m
Komarkcorp expands face mask business
BINTAI Kinden Corporation Bhd will acquire Johnson Medical International Sdn Bhd for RM50 million to expand its healthcare business segment , the group said in a bourse announcement recently .
The group said it had entered into a Memorandum of Understanding with Yeo Eng Lam to acquire approximately three million ordinary shares or a 100 per cent stake in Johnson Medical .
“ The proposed acquisition would be satisfied via a combination of cash amounting to RM26 million and the issue of approximately 58.54 million new ordinary shares in Bintai Kinden at 41 sen each ,” the company said .
Bintai Kinden executive Vice- Chairman Ibrahim Othman said , the proposed acquisition presents a strategic opportunity for the company to expand inorganically , via acquisition of businesses or investments that are in similar industries to its existing core business in the construction sector .
THE Kek Lok Si Charitable Medical Centre is the first Buddhist non-profit hospital in the State that is open only to Malaysians .
Board member and medical superintendent Datuk Dr Teng Hock said the medical fees in the hospital will be the lowest in the state and the hospital relies fully on public donations and contributions .
He thanked the Penang government for its allocation of RM200,000 to the hospital and hoped that the state will consider making an annual contribution .
“ Since the hospital runs fully on donations and the hospital ’ s expenses is very high , we hope the state will consider approving annual funding for the hospital to be released in the beginning of each year ,” he said when Penang Chief Minister Chow Kon Yeow visited the hospital recently .
Chow said the 50-bed hospital has seven resident consultants , two medical officers , two sessional consultants and one visiting consultant . The hospital also aims to get an oncologist on board to treat cancer patients in future .
“ The corporate exercise will also enable the company to expand its products and services offering in addition to its current distribution of Greenie Medi Cold Chain Box designed for storage and distribution of Covid-19 vaccines under its healthcare business segment .
“ It will allow Bintai Kinden to tap into the healthcare segment to supply and install various medical devices such as medical pendants , mobile and modular healthcare units , bedhead panels , mobile surgical units and trauma workstation to capture the demand for healthcare business as a result of the Covid-19 pandemic ,” he said .
Under the agreement , the vendor will provide Bintai Kinden with a profit guarantee of RM3.5 million and RM5.6 million for the financial years ending Dec 31 , 2021 ( FY21 ) and FY22 respectively .
Barring any unforeseen circumstances , the corporate exercise is expected to contribute positively to future earnings and improve the financial position of Bintai Kinden , the company said .
Penang ’ s latest non-profit hospital
Buddhist hospital in Penang .
“ It is equipped with state-of-theart medical facilities and devices and the 130 staff members are ready to serve once the approval from the Cawangan Kawalan Amalan Perubatan Swasta ( CKAPS ) of the Penang Health Department is obtained ,” he said .
Chow said the charges at the hospital , which is open to all Malaysians regardless of race or religion , will be lower than other non-profit hospitals in the state .
“ Patients who are unable to pay the full amount of his or her bill can apply for subsidy from Yayasan Kek Lok Si ,” he said .
He said the hospital is also one of the first private hospitals that does not charge nursing procedure fees for its in-patients .
THE Ministry of Health Malaysia ( MoH ) announced that the development of the Drug Supply Management System for the Pharmaceutical Value-Added Service System or MyUBAT has been successfully implemented and its use expanded in all MoH Health facilities starting April 15 , 2021 . Value Added Pharmacy Services ( VAS ) had been offered in stages by MoH facilities since 2003 , through the Integrated Drug Dispensing System ( SPUB ), Drive-Through Pharmacy services , appointment system through appointment cards , telephone and smartphone communication applications for medication intake , Medicine by Post ( UMP ) and ‘ Locker4U ’ services .
PACKAGING solution provider and automatic labeling machine manufacturer Komarkcorp Bhd plans to raise RM23.07 million via a private placement to expand its face mask manufacturing business .
The group announced recently , it would be issuing 96.22 million new shares or 20 per cent of its existing share base to independent third party investors .
Based on its illustrative issue price of 24 sen apiece , the group would be raising RM23.07 million , of which RM22.24 million would be deployed for the expansion of its face mask manufacturing business and the rest to defray the expenses associated with the private placement .
Komarkcorp noted that it has installed and is currently operating six production lines for three-ply face masks and one production line for KN96 face masks .
It has placed orders and is in the midst of finalising the purchase of machinery for an additional 19 production lines for three-ply face masks and four production lines for KN95 face mask – which are expected to be installed and operational by the second quarter of the year .
The company remarked that its face mask manufacturing operations are currently housed at its existing factory cum headquarters in Balakong , which has a built-up area of 150,000 sq ft . Of this area , 50,000 sq ft has been allocated for the manufacture of face masks .
“ To house a total of 115 production lines , the group will need to acquire another factory building . To this end , the group intends to acquire a new factory building with a built-up area of approximately 80,000 sq ft , at a targeted price of RM20 million .
“ A factory of this size is estimated to be able to house up to 80 face masks production lines , thus catering for any potential future expansion of the face masks business . At this juncture , the group is looking to acquire a factory close to its Balakong factory to centralise its supply chain as much as possible ,” it said .
MoH ’ s MyUBAT implemented
In line with the latest technological developments , MoH has developed the MyUBAT system to enable patients to monitor the supply and use of their medicines via smartphones . Apart from that , the use of this system can also make it easier for members in pharmacy facilities to manage the registration process and preparation of follow-up medications at pharmacy counters more systematically .
The MyUbat system was introduced in seven MoH pilot facilities starting Aug 12 , 2020 . Through the pilot project , a total of 14,099 patients were registered with this system and 24,413 prescriptions dispensed