OMESTI LAUNCHES VACCIN8 PROGRAMME UNDER NEW HEALTHCARE DIVISION Technology group OMESTI Berhad has launched the OMESTI Healthcare Vaccin8 Programme to provide vaccination services to companies for their employees as part of the nationwide drive to combat COVID-19. The Programme, offered by the OMESTI Healthcare Division, will provide safe and convenient access to vaccinations for Malaysian companies to protect as many of their employees as quickly as possible and so help businesses resume normal operations. Authorised by the JKJAV (Jawatankuasa Khas Jaminan Akses Bekalan Vaksin COVID-19) and the Ministry of Health Malaysia, the Vaccin8 Programme enables OMESTI to lend its support to the National COVID19 Immunisation Programme (NCIP). Gerard Monteiro, Executive Director of OMESTI Berhad, says, “We are honoured to be able to do whatever we can to assist in the NCIP and help combat the COVID-19 Pandemic. We firmly believe that mass-vaccination of the workforce, especially in Malaysia’s critically important industries, is the only way to protect lives and ensure that livelihoods can be sustained.” Mr Monteiro adds, “In setting up the OMESTI Healthcare Vaccin8 Programme, we have been able to leverage our substantial technology heritage in the successful delivery of complex multi-stakeholder systems to help roll out this vital initiative for the country. The sooner the majority of the population is protected, the sooner the economy can regain its footing and we can begin to open up to international business once more.” OMESTI Berhad has invested in Bemed Tempua Sdn Bhd, a pharmaceutical company which has been granted approval to acquire an initial allocation of one (1) million doses of the Sinovac vaccine from Pharmaniaga LifeScience Sdn Bhd. OMESTI has also engaged the services of licensed healthcare provider Mudah Healthcare Sdn Bhd (Mudah Healthcare) as its delivery partner for the Vaccin8 Programme. “Our medical teams will be mobilised to carry out vaccinations on site at company premises, even in remote locations, offering safety, convenience and flexibility while minimising disruption to business operations. Appointments can also be arranged at clinics and medical centres convenient to company premises,” adds Mr Monteiro. Page 2 of 2 Once completed, all details of the COVID-19 vaccinations provided under the OMESTI Vaccin8 Programme will be reflected in MySejahtera to ensure a reliable and complete ‘single source of truth’ on the status of vaccinated individuals in Malaysia. The Vaccin8 Programme has already attracted significant interest from Malaysian companies and conglomerates in the financial services, plantation, manufacturing and hospitality sectors. COVID-19 testing services will also be added to the Group’s portfolio in the near future, enabling companies to conduct mass-testing of employees. This will help contain the risk of infection, while ensuring compliance with the mandatory requirements for testing that apply to many industry sectors under the Government SOPs. Companies that are interested in obtaining vaccinations for their employees simply need to email firstname.lastname@example.org. www.vaccin8.omesti.com …….. About OMESTI OMESTI Berhad is a Malaysian-based public listed grouping of companies that specialises in helping clients achieve digital transformation of their operations on both an enterprise-wide and modular basis. Its portfolio includes proprietary solutions for digital court technology, corporate registry systems and core banking as well as e-payments, data services, digital HR, cloud applications and IoT solutions. It is an authorised technology/distribution partner for some of the world’s leading principals including Huawei, IBM, Lenovo, HPE, Oracle, AWS, Alibaba and Google. It works with large enterprises across multiple industry sectors including financial institutions, telecommunications, utility and energy firms, the judiciary, regulatory bodies, education and various government departments. The Group also provides solutions on an as-a-service basis for e-payments, royalty management, corporate secretarial, human capital management, and more. www.omesti.com
From Rakuten Trade's Research Hive: Omesti Bhd (Fundamental BUY with TP 0.71)
Omesti Bhd (Omesti) is primarily involved in providing network connectivity and bandwidth services, and project management services in relation to telecommunications via its 51.8% subsidiary Microlink Bhd.
On 27 July 2021, the company acquired a 70% stake in Bemed Tempua Sdn. Bhd. (Bemed Tempua) for RM700,000 and is now a Covid-19 vaccine provider for the private sector.
Omesti jumped into the Covid-19 vaccine bandwagon and launched the Omesti Healthcare Vaccin8 Programme (“Healthcare Programme”) providing vaccination services to companies for their employees as part of the nationwide drive to achieve herd immunity status.
Authorised by the Jawatankuasa Khas Jaminan Akses Bekalan Vaksin COVID-19 (JKJAV) and the Ministry of Health Malaysia (MOH), the 1m doses of Sinovac vaccines acquired from Pharmaniaga enables Omesti to execute its Healthcare Programme. In addition, Omesti is also providing Oral Fluid Antigen Test Kit (approved by the MOH) to existing clients and via online marketing. Demand for its vaccines and test kits remains resilient as the company has already secured substantial orders from companies across different sectors.
Balance sheet is healthy with net cash position of RM27.7m as at FY21.
This new source of income will greatly enhance Omesti’s earnings for FY22 and beyond. BUY with a target price of RM0.71 based on sum of parts valuation, implying a forward PER of 16.5x for FY22. Our BUY recommendation is premised on: (i) strong sales achieved since the launch of Healthcare Programme; (ii) orders secured from the private sectors providing recurring earnings; and (iii) healthy profit margins going forward.
M&A Securities Sdn Bhd, on behalf of the Board of Directors of Omesti wishes to announce that the Company had on 19 January 2022 entered into a Heads of Agreement with Man Yau Holdings Berhad (“MYHB”), a wholly-owned subsidiary of Omesti, and Microlink Solutions Berhad (“Microlink”), wherein Omesti and MYHB on the one hand are desirous of undertaking the transfer of certain information technology projects to Microlink on the other hand, which will comprise and involve the following:
1. the proposed sale and transfer by Omesti of its rights and interests under the TMBSSP contracts in respect of a business support system project for Telekom Malaysia Berhad (“TMBSSP”), to Microlink (“Proposed Transfer of TMBSSP”);
2. the proposed sale and transfer by Omesti of 250,000 ordinary shares in Formis Research & Development Sdn Bhd, representing 100% of its equity interest, which is carrying out certain electronic services development and maintenance projects, to Microlink (“Proposed Share Sale of FRDSB”); and
3. the proposed sale and transfer by MYHB of 10,000 ordinary shares in Omesti Assist Sdn Bhd, representing 100% of its equity interest, which is also carrying out certain electronic services development and maintenance projects, to Microlink (“Proposed Share Sale of OASB”)
The Board of Directors of Omesti Berhad (“the Company” or “Omesti”) wishes to announce that Omesti Berhad (“Omesti” or “the Company”), has on 23 September 2022 received and accepted a Letter of Award ("LOA") from Telekom Malaysia Berhad ("TM") for the “Agreement for Design, Development, Customization, Configuration, Delivery, Installation, Integration, Testing, Commissioning & Knowledge Transfer for Mobile Services Business Support System to Ensure Mobile Services Continuity (Including 5G and Other Mobile-Related Services), Maintenance and Support Services and Provision of Software Subscription for a period of one (1) year, commencing on 23 September 2022 to 22 September 2023 at a total value of RM20,000,000.00 (inclusive of Sales and Service Tax (SST) of 6%) with no clause on renewal in the LOA (hereinafter referred to as “the TM Contract”)...
The Board of Directors of Omesti Berhad (“Omesti”) wishes to announce that Formis Network Services Sdn Bhd (“FNS”), an indirect 51% owned subsidiary of Omesti, has on 23 November 2022 accepted the award from the Chief Registrar’s Office of the Federal Court of Malaysia to provide maintenance and support services for Phase 2 e-COURTS System for a period of three (3) years, commencing on 1 December 2022 to 30 November 2025 for a total contract sum of RM33,849,222.53 (inclusive of Sales and Service Tax (SST) of 6%) with no clause on renewal in the award (hereinafter referred to as "the e-COURTS Maintenance Phase 2 Contract").
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