PT HO WAH GENTING’S 2ND MOVE - APPOINTMENT OF REGISTERED PHARMACIST IN BATAM
KUALA LUMPUR, 06 NOVEMBER 2020 – As part of diversification plan to move into the healthcare business, Ho Wah Genting Berhad (“HWGB” or the “Company”) (Bursa Stock Code:9601), through its Indonesian Subsidiary PT Ho Wah Genting (“PT HWG”) had obtained permits to manufacture and distribute pharmaceutical products from Indonesian Investment Coordinating Board on 12 October 2020.
Following the above, PT HWG, helmed by Vice President Wilson Song, had appointed Ariston Ginting (“Ariston”), an Indonesian local who had 10 years of experience in the pharmaceutical industry. Wilson Song expressed : “With the appointment of Ariston and the permit to manufacture and distribute pharmaceutical products, it cements a stronger footing for our medical segment to be authorized for use in other countries.”
“While we are looking for potential business opportunities in healthcare segment, we will ensure our existing cable manufacturing business is not affected. If necessary, we will get a new location for the healthcare business”, Wilson Song added.
PT HWG is now ready to explore business opportunities in healthcare-related businesses.
ABOUT HO WAH GENTING BERHAD
Ho Wah Genting Berhad (“HWGB” or the “Company”) is principally engaged in investment holdings and the provision of management services to its subsidiaries. The Company had on 30 June 2020 diversified its existing businesses to include healthcare related industry which mainly involved in health supplement, biotechnology and health technology. In addition, the Company and its subsidiaries (“HWGB Group” or the “Group”) are also engaging in the businesses of investment holdings; manufacturing of wires and cables and moulded power supply cord sets and cable assemblies for electrical and electronic devices and equipment; trading of wires and cables; and travel agent and tour related services.
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ABOUT PT. HO WAH GENTING
PT Ho Wah Genting (“PT HWG”) is an integrated manufacturer engaged in manufacturing of wires and cables, power supply cord sets and moulded cable assemblies for original equipment manufacturers (OEM) of electrical and electronic devices and equipment and for original design manufacturers (ODM) in meeting consumer regulatory requirements emphasizing on quick turnaround and delivery.
PT HWG brought in a wide of resources, specialized expertise and technical knowledge to its production which encompasses advanced product development, efficient manufacturing process and strong distribution capabilities in order to meet the requirement of OEM and ODM.
On 12 October 2020, PT HWG obtained permits to manufacture and distribute pharmaceutical products from Indonesian Investment Coordinating Board to tap into the potential business opportunities in healthcare industry, subject to the feasibility studies being conducted. The regulatory approval from the Indonesian Investment Coordinating Board will allows PT HWG to export the pharmaceuticals from Indonesia.