Coincidentally, MSCM's media invite indicated that there will be a signing ceremony tomorrow in Petaling Jaya involving MSCM's subsidiary Hong Seng Gloves Sdn Bhd and its new partner for a turnkey project.
"The event marks the start of a collaboration between both parties that will enable MSCM to venture into the new business," MSCM said.
We refer to the letter from Bursa Malaysia Securities Berhad (“Bursa Securities”) dated 24 August 2020 titled “Unusual Market Activity” and after making due enquiry with the directors, major shareholders and other relevant persons, the Board of Directors of the Company (“Board”) wishes to response to the queries raised by Bursa Securities as follows:
1. Apart from the announcement released by the Company on the same day pertaining to the Group’s venturing into glove making business and the entering of the Turnkey Commissioning of NBR Double Former Glove Dipping Production Plant Agreement (“Agreement”) for a contract price of RM59,400,000.00 and an upcoming signing ceremony of an agreement on 28 August 2020 involving the Company for which media invitation have been sent out for them to attend, the Board wishes to inform that there is no other corporate development relating to the Group’s business and affairs that have not been previously announced that may account for the trading activity including those in the stage of negotiation and discussion.
Further details on the Agreement are set out in the said announcement released on the even date.
2. The Board is not aware of any rumour or report concerning the business and affairs of the Group that may account for the trading activities.
3. There have been recent announcements on changes in the substantial shareholders of the Company, intention to invest 20% stake in eMedAsia Sdn. Bhd. (“eMedAsia”) and to be eMedAsia’s exclusive fourth party logistic services provider, incorporation of a new wholly-owned subsidiary company to undertake glove making business and the execution of the tenancy agreement for the purpose of setting up a glove manufacturing plant to commence its gloves business, etc. The foregoing may have encouraged the trading activities of the Company which give rise to the movement in the share prices.
4. The Board of Directors confirms that the Company is in compliance with the Main Market Listing Requirements of Bursa Securities (“Main LR”), in particular paragraph 9.03 of the Main LR on immediate disclosure obligations.
Someone shiok sendiri playing with MYSCM-Wa by himself. Maybe hoping to catch some water-fish. Only in Bursa KL where the warrant is way higher than the mother share price. Lol!
"Today, MSCM will partner KOOP MMA in eMedAsia Sdn Bhd to take Malaysian healthcare into a new era. Millions of Malaysian will have the option to consult physicians via their computers and mobile phones instead of physical appointments, and have prescription medicine delivered to their doorstep in the near future."
If what mentioned above is really happen, then this will be another "hot topic"!!! Glove sales will drop if Covid gone or vaccine is out, vaccine sale will drop if Covid is under control, BUT BUT BUT virtual clinic is the new trend in future!!!
With partnering with KOOP MMA, if the idea is accepted by MOH, then this will be a gamechanger move!!! VIRTUAL CLINIC is a hot topic for recent year and it always cannot be happen because there has no stimulant to create the environment. Our MOH had created a dial-free call during Covid pandemic for citizen to dial for enquiries and it seem like it work. And i believe MOH is moving to create Virtual Clinic so the traffic to hospital will reduce.
Hopefully this is a real project that is going to be happen!!!
SECURITIES COMMISSION MALAYSIA announced new anti corruption plans but this counter's price movement shows that the people here are not even awake for whatever reason. Singapore much better in governance so might as well invest there. 1MDB was only 2.6 Billion whacked. Some of these counters make Malaysia a laughing stock.
MSCM will partner KOOP MMA in eMedAsia Sdn Bhd to take Malaysian healthcare into a new era. Millions of Malaysian will have the option to consult physicians via their computers and mobile phones instead of physical appointments, and have prescription medicine delivered to their doorstep in the near future."
With partnering with KOOP MMA, if the idea is accepted by MOH, then this will be a gamechanger move!!! VIRTUAL CLINIC Our MOH had created a dial-free call during Covid pandemic for citizen to dial for enquiries and it seem like it work. MOH is moving to create Virtual Clinic so the traffic to hospital will reduce.
The venture into the supply of vaccines and test-kits will be undertaken by its 51%-owned subsidiary HS Bio Supplies Sdn Bhd, the filing revealed. The remaining 49% stake in HS Bio is owned by MMAG Holding. According to the filing, HS Bio intends to source the medical and healthcare products from exclusive distributors approved by the Health Ministry (MoH). These products include vaccines, test kits, medicine and supplements.
“In view of the recent pandemic, the proceeds from the proposed private placement will enable the group to have ready funding for HS Bio to source for the much-in-demand medical products such as the Covid-19 test kits, supplements and vaccines upon availability and approval from the MoH, ” MSCM said.
MSCM is also targeting to deploy its own mobile testing facilities for communicable diseases and viruses such as influenza, hepatitis and Covid-19.
MSCM’s strategy for this move can be seen from an exercise it carried out last month. That was when HS Bio acquired a 20% stake in eMedAsia for RM2mil. The deal will see it becoming eMedAsia’s exclusive fourth party logistic service provider to give warehousing services to all eMedAsia’s member clinics and hospitals.eMedAsia is a digital platform started by Kooperasi Persatuan Perubatan Malaysia (KOOP MMA) to enable private clinics to procure medicine, provide telemedicine services and access other healthcare-related services.
KOOP MMA, which is an investment vehicle of the Malaysian Medical Association (MMA), holds the lion share in eMedAsia with a 48% stake, followed by Open Dynamics Sdn Bhd (32%) and HS Bio (20%).
Notably, eMedAsia has on board almost 2,000 registered private clinics out of the total 6,000 in the nation. The role that MSCM is looking to play is different from that of Pharmaniaga Bhd and Duopharma Biotech Bhd. The latter two pharma giants will be undertaking the “fill and finish” process for the vaccine, which entails the process of filling vials with vaccine and finishing the process of packaging the medicine for distribution.
MSCM is looking to play a role as a key distributor of potential Covid-19 vaccines. It is not without competition though – another listed company gunning for the wholesaling and distribution of vaccines is Apex Healthcare Bhd.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 3324 views | 3 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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High5
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Posted by High5 > 2020-08-24 21:00 | Report Abuse
https://www.theedgemarkets.com/article/mscm-securities-trading-be-suspended-tomorrow-bursa-queries-share-price-volume-rise?type=malaysia