KPower ventures into RM24mil healthcare deal

Formerly known as Kumpulan Powernet Bhd, the group operates in the sustainable energy and utilities segment and specialises in renewable energy (RE).

PETALING JAYA: KPower Bhd has inked a US$6mil (RM24.05mil) contract to supply polymerase chain reaction (PCR) reagent kits for Covid-19 to PT Arna Cahaya Medika in Jakarta, Indonesia.

Under the deal, the group’s wholly-owned subsidiary KPower Healthcare and Technologies Sdn Bhd will request for the supply of the PCR Kits from the relevant appointed manufacturer, before delivering them to Jakarta.

Formerly known as Kumpulan Powernet Bhd, the group operates in the sustainable energy and utilities segment and specialises in renewable energy (RE).

Meanwhile, the group also told Bursa Malaysia that it is buying a 70% stake in Granulab (M) Sdn Bhd for RM1mil cash.

Granulab, headquartered in Shah Alam, is a Bio-Nexus Status company and a subsidiary of Sirim Bhd.

Granulab is involved in medical device manufacturing for granular synthetic bone graft “Granumas”, the only halal synthetic bone graft product in Malaysia, and producing medical devices and products.

The company is one of Sirim’s success story in its efforts in developing and commercialising technologies for industrial application.

The research activities undertaken by Sirim and four other institutions were successful in producing the first-ever Halal synthetic bone graft, a bioceramic material for orthopaedic application.

Granulab’s product has made its presence through intellectual property (IP) registrations in Indonesia, Japan, United States, United Kingdom, Germany, France and South Korea.

Granulab also holds certifications locally and internationally including Medical Device Manufacturer License and MDA Establishment License as Distributor from Medical Device Agency Malaysia.

Granulab is also the holder of CE Mark Certification and ISO 13485 from BSI of the United Kingdom.

In a statement, KPower chairman Datuk Dr Abdul Karim Abdullah said, “The numerous opportunities that lie within the healthcare and technology sector has huge appeal to us.”

Sirim chairman Tan Sri Dr Ahmad Tajuddin Ali said, “This creates a new business opportunity which benefits both parties.”

KPower said the proposed acquisition and contract award would mark its first steps into the healthcare and technology segment.

The company’s shares rose 36 sen to close at RM7.72 yesterday.

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