Quick take: Permaju rises 10% on sanitiser deal


  • Stock on the Move
  • Tuesday, 07 Apr 2020

KUALA LUMPUR: Shares in Permaju Industries Bhd rose over 10% in early trade Tuesday after the company inked a deal to make Hong Kong firm’s sanitiser for Southeast Asian market market.

The company, which is primarily engaged in sales and distribution of automobile vehicles, added 10.06%, or eight sen to 87.5 sen with 1.4 million shares traded.

Permaju said its wholly-owned subsidiary Team Japs Sdn Bhd has entered into a collaboration agreement with Pentaweft Biotech Ltd to study the feasibility of making and distributing the “Penaclo solution” in Southeast Asian countries.

The countries are Malaysia, Indonesia, Singapore, Vietnam, Thailand and the Philippines.

The first batch of the Penaclo solution will be aimed at the personal precautionary market. The parties will then develop other Penaclo solutions aimed at sanitising high-risk areas such as hospitals, offices, restaurants, schools and public transport.

Pentaweft Biotech is the sales and manufacturing arm of the Pentaweft group of companies that is engaged in the biotechnology industry and focuses on the development and commercialisation of various medical products and medicines.

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