KUALA LUMPUR, 20 November 2020 – HWGB Biotech Sdn Bhd (“HWGB Biotech”), a wholly-owned subsidiary of Ho Wah Genting Berhad’s (“HWGB” or the “Company”) (Bursa Stock Code:9601) had been appointed by Wenzhou OJA Biotechnology Co. Ltd.’s (“WOJA”), one of the leading companies certified by China’s Ministry of Commerce and is licensed as a foreign trader and operator of medical devices to be the authorized online marketplace and ecommerce website representative for the purposes of marketing, promoting, distributing and sale of WOJA’s medical devices and products (“OJAbio test kit”).
Clearly, HWGB Biotech had not let the grass grow under its feet in securing reliable Covid-19 diagnostic kits in its venture into healthcare business. WOJA is specialised in the diagnosis of genetic diseases through independent research in partnership with medical institutions. WOJA is mainly involved in auxiliary diagnosis of genetic diseases with independent research and development patents, combining with relevant medical institutions to provide an accountable and affordable early diagnosis solution for the society.
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The OJAbio test kit is a rapid point-of-care cheek swab test using Colloidal Gold Method. It directly detects the presence or absence of coronavirus antigen in the patient’s body, generating diagnosis results within 15 minutes. These tests are designed to detect a specific protein in the virus that elicits the body’s immune response. Real time polymerase chain reaction test (RT-PCR), though highly accurate, requires complex bio safety compliant set ups and takes longer to give a result which may not be the solution for a fast turnaround time. Antigen test kit will be a necessity in the new norm where all entry points to malls, hotels, airports, schools and others will use this kit as a compulsory test before entry permission is granted.
HWGB Biotech’s General Manager, Medical & Pharmaceutical Research, Dr. Yaman Walid Kassab, said: “A good and reliable COVID-19 rapid test kit is needed especially with the daily rise in the number of cases in Malaysia. We are also looking to explore global partnerships to promote other medical-related products that we have via a global digital distribution platform.”
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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