KPower had planned to acquire a 70% stake in Granulab (M) Sdn Bhd, a unit of Sirim Bhd’s subsidiary, Sirim Tech Venture Sdn Bhd, for RM1mil cash
PETALING JAYA: KPower Bhd has experienced some trading interest in its shares following its plans to venture into the healthcare industry.
However, its shares ended lower after some profit-taking activities yesterday and declined to close 12 sen lower to RM7.60. The stock’s historical high was RM8.
It had planned to acquire a 70% stake in Granulab (M) Sdn Bhd, a unit of Sirim Bhd’s subsidiary, Sirim Tech Venture Sdn Bhd, for RM1mil cash.
Granulab is involved in the medical device manufacturing for granular synthetic bone graft “Granumas”, the only halal synthetic bone graft product in Malaysia, and producing medical devices and products.
KPower said the acquisition was in line with its intention to venture into the healthcare and technology business that can create long term revenue growth and income sustainability.
It had signed a US$6mil (RM24.05mil) agreement to supply polymerase chain reaction reagent kits for Covid-19 to PT Arna Cahaya Medika in Jakarta, Indonesia.
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