Hong Seng unit participates in NADMA's foreign workers management programme

KUALA LUMPUR (March 22): Hong Seng Consolidated Bhd has inked a collaboration and commitment agreement with the National Disaster Management Agency (NADMA) on foreign workers recruitment and quarantine management at a panel of selected hotels.

According to Hong Seng's filing with the stock exchange on Tuesday (March 22), NADMA has initiated a programme called the "National Security and Safety for Foreign Workers Recruitment and Quarantine Management", aimed at managing and improving controls especially relating to Covid-19 management and processes while ensuring that national security is not compromised.

The agreement was signed and would be executed by Hong Seng's 52%-owned subsidiary, eMedAsia Sdn Bhd, and NADMA while the panel of selected hotels was represented by Cahaya Pengurusan Cekap Sdn Bhd and Faz Group Sdn Bhd.

eMedAsia, a 52%-owned subsidiary under Hong Seng's healthcare arm HS Bio Group, is required by the agreement to provide end-to-end Covid-19 screenings for foreign workers upon their entry into the country from pre-screening stage to post-screening stage involving isolation management of positive cases as well as any other related services.

Meanwhile, the hotels, represented by Cahaya Pengurusan Cekap and Faz Group, would serve as the foreign workers' quarantine centres by providing quarantine accommodation and meals, access to healthcare facilities and government health authorities, ensuring security of the premises and providing support services such as disposal of waste and housekeeping.

"The services will commence on the commencement date as decided and advised by NADMA and continue for the period of one year and any subsequent automatic renewal terms as decided by NADMA," the filing added.

Hong Seng expects the agreement to contribute positively to its overall future earnings and earnings per share as and when all the potential services to be offered by eMedAsia from the agreement are rolled out.

At market close, Hong Seng shares ended three sen or 1.17% higher at RM2.59, valuing it at RM6.62 billion. Year-to-date, the counter has declined 11 sen or 4.07% from RM2.70.

Source: TheEdge - 23 Mar 2022