This article first appeared in The Edge Financial Daily on March 19, 2020

KUALA LUMPUR: MyEG Services Bhd has clarified that its Covid-19 rapid test kits do exist, and is currently awaiting approval from the local authorities and certification from the ministry of health (MoH).

In fact, MyEG said the rapid test kits have been cleared by health authorities in China and Europe, where they are already being widely used.

“Due to the simplicity of use for the testing kit, MyEG believes that it is an accessible option to increase testing among Malaysians to help assist in early detection and further prevent the spread of the virus. It will also help give Malaysians some peace of mind given its relative ease of use,” it said in a statement yesterday.

MyEG was referring to a social media post by the MoH declaring that the Covid-19 rapid test kit was fake. The test kit was featured on MyEG’s official website, offered at RM99 per kit, or RM990 for a set of 10.

MyEG said the testing kit is an accessible option to help Malaysians in early detection of the Covid-19 virus.

The government’s e-services platform explained that due to the pandemic emergency, most countries accept the declaration of conformity, with clinical trial reports and all relevant supporting documents.

As such, MyEG said it is working in parallel to accept pre-orders in order to secure availability from its partner, an undisclosed Chinese biomedical firm, to ensure sufficient supplies once certification is received.

MyEG assured that pre-order payments are fully refundable if for any reason certification is not received.

MyEG shares closed 5.5 sen or 6.01% lower at 86 sen yesterday after 46.4 million shares were done, giving the group a market capitalisation of RM2.98 billion.