Friday 29 Mar 2024
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KUALA LUMPUR (Jan 8): A subsidiary of Bintai Kinden Corp Bhd has been appointed the exclusive distributor for the Greenie Medi Cold Chain Box designed for the storage and distribution of Covid-19 vaccines in Malaysia.

The subsidiary, Bintai Healthcare Sdn Bhd, has also been appointed an authorised distributor for the product in Southeast Asian countries.

In a statement today, the company, whose share price has risen 4.5 times over the past five months, said Bintai Healthcare today signed a distribution agreement with South Korea’s SLAB Asia Co Ltd to distribute the full range of Greenie Medi Cold Chain Box products in Malaysia, Brunei, Myanmar, Cambodia, Timor-Leste, Indonesia, Laos, the Philippines, Singapore, Thailand and Vietnam.

The Greenie Medi Cold Chain Box was designed for the exclusive use in transporting and storing medical products at very low temperatures as it keeps the inbox temperature at -70℃ for up to 120 hours.

SLAB Asia operates South Korea’s only ISTA 7D/7E certified private test lab which offers its customers internationally recognised quality assurance. Notably, ISTA 7D/7E is a test standard set by the Center for Drug Evaluation and Research under the US Food and Drug Administration (FDA) in certifying compatibility and adequacy for transporting medical-grade products.

“We are here to support the government’s initiatives in vaccine distribution, and to complement the existing cold chain infrastructure and provide comprehensive solutions to meet critical needs in times like these, and to support needs for Covid-19 vaccine distribution,” said Bintai Kinden group managing director Ong Choon Lui.

“The Greenie Medi Cold Chain Box is the ideal solution for getting temperature-sensitive drugs, biologics and vaccines safely to end users across Malaysia and beyond,” he added.

This agreement is expected to contribute positively towards the group’s future earnings.

It was in October of last year when Bintai Kinden ventured into distribution of Covid-19 vaccines.

Bintai Healthcare was granted the exclusive rights from Generex Biotechnology Corp and its subsidiary NuGenerex Immuno-Oncology Inc to distribute, sell and commercialise Covid-19 vaccines in Malaysia, Brunei, Myanmar, Cambodia, Timor-Leste, Indonesia, Laos, the Philippines, Singapore, Thailand and Vietnam.

It has also been given the first right of refusal to distribute and market the vaccine within Australia, New Zealand and the global halal market. 

While Bintai Kinden has fallen from its 16-year peak of RM1.39 a month ago, it was still up 1.72% or one sen at 59 sen at the midday break today, valuing it at RM225.32 million.

Edited BySurin Murugiah
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