Quick take: LYC rises 3.6% on partnership with Biofresh


  • Stock on the Move
  • Tuesday, 19 May 2020

KUALA LUMPUR: Shares in LYC Healthcare Bhd advanced over 3.6% in early trade Tuesday following its partnership with Biofresh Hygiene Services Sdn Bhd to market hygiene, sanitisation services.

The counter added 3.66%, or 1.5 sen to 42.5 sen with 3.14 million shares traded. So far this year, LYC has risen some 40%.

LYC Healthcare is partnering with Biofresh Hygiene Services Sdn Bhd to market cleanliness, hygiene and sanitation services in Malaysia amid rising awareness of hygiene due to the Covid-19 pandemic.

Its wholly-owned subsidiary LYC Medicare Sdn Bhd had entered into a hygiene and disinfection services collaboration agreement with Biofresh where the former will market a range of cleanliness, hygiene and sanitation services on behalf of the latter.

LYC Medicare will be granted the rights to use all the marketing materials developed by Biofresh to generate sales for Biofresh hygiene services, valid for a period of three years and may be extended subject to mutual consent of the two parties in writing.

Under the partnership, LYC Medicare will be entitled to 30% of revenue generated in Malaysia from clients secured by the company, with the amount being exclusive of all applicable taxes.

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LYC Healthcare , Biofresh Hygiene

   

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