Bintai Kinden active, rises as much as 6.6% on collaboration for hemodialysis biz

Bintai Kinden active, rises as much as 6.6% on collaboration for hemodialysis biz
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KUALA LUMPUR (Sept 3): Bintai Kinden rose as much as 3.5 sen or 6.6% amid active trade this morning, after teaming up with hemodialyzer manufacturer Scientillence Sdn Bhd for hemodialysis business in Malaysia and Southeast Asia.

At 11.20am, the counter pared some gains at 55.5 sen, still up 2.5 sen or 4.72%. The stock had earlier risen to a high of 56.5 sen.

The counter was the fifth most actively traded stock, with 38.91 million shares transacted.

The group has risen 63.24% as compared with its recent low of 34 sen on Aug 25.

The group yesterday said it had signed a business collaboration agreement with Scientillence to jointly develop and market medical products in the hemodialysis market, as well as to develop, invest, acquire or own dialysis centres, and other related renal care businesses in Malaysia and Southeast Asia.

Bintai Kinden’s executive director Azri Azerai said the partnership between Bintai Healthcare and Scientillence will facilitate Bintai Kinden to tap into the hemodialysis market and is part of its business strategies to widen its range of products and services including distribution of medical devices and healthcare solutions in Malaysia.

“Pursuant to the agreement, both Bintai Healthcare and Scientillence will work together to explore and identify suitable new markets to expand and distribute Scientillence’s products and other products in the private and commercial sector such as non-governmental organisations,” he added.

He also said the agreement is expected to contribute positively towards the future earnings of the group.

Surin Murugiah