Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 8): Key Alliance Group Bhd's associate has bagged a contract worth RM32 million from the Ministry of Health (MoH) to supply reagents instrument placement for centralised chemical pathology test for a few hospitals in Kedah.

In a bourse filing, the company said the four-year contract was secured via Tree Med Sdn Bhd, which is principally involved in the supply of medical devices. Key Alliance acquired a 30% stake in Tree Med in December 2020 for RM14 million.

Reagents are commonly used to test for the presence of certain substances, as the binding of reagents to the substance or other related substances triggers certain reactions, it said.

The reagents will be sent to Hospital Sultanah Bahiyah Alor Setar, Hospital Sultan Abdul Halim Sungai Petani, Hospital Kulim, Hospital Sultanah Maliha Pulau Langkawi, Hospital Jitra, Hospital Kuala Nerang, Hospital Sik, Hospital Yan, and Hospital Baling.

Tree Med chief executive officer Khairul Anuar Danial said the company will be bidding to supply to other government and private laboratories in the future if the opportunity arises. "It is important that the labs are receiving good quality products to ensure that the best results are achieved," Khairul added.

Key Alliance's share price slipped 0.5 sen or 16.67% to 2.5 sen on Friday, giving the group a market capitalisation of RM64 million.

Edited ByTan Choe Choe
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