KL Trader Investment Research Articles

Author: kltrader   |   Latest post: Wed, 28 Oct 2020, 5:48 PM


Supermax Secures Japanese Licence for Contact Lens Business

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KUALA LUMPUR: Supermax Corp Bhd, whose shares surged nearly 9% to a record high today, announced that its 70%-owned Japanese unit Aime Supermax KK has been granted the product licence for its contact lenses by the Pharmaceutical and Medical Device Authority of Japan.

A formal notification was received by Aime KK, which is 100% owned by Aime Supermax, it said in a statement today.

"The product licence effectively enables the Supermax Group via SuperVision Optimax Sdn Bhd to export the first Malaysian brand contact lens to Japan, one of the world’s largest markets for contact lenses.

"This is a major breakthrough for both SuperVision Optimax and Malaysia, to be the first Malaysian contact lens to export to Japan. PMDA conducts one of the most stringent clinical evaluations in the world. Supermax Group is pleased that the product by its subsidiary company SuperVision Optimax Sdn Bhd (98% owned by Supermax International Sdn Bhd, which is a wholly-owned subsidiary of Supermax Corporation Bhd) has undergone an extensive clinical evaluation process," said Supermax.

Supermax shares jumped 32 sen to settle at RM3.91 today, the highest since the stock was listed, giving it a market capitalisation of RM2.56 billion. The stock has grown near 102% since a year ago.

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