KUALA LUMPUR, 11 JANUARY 2021 – Ho Wah Genting Berhad (“HWGB” or the “Company”) (Bursa Stock Code:9601) today signed a Memorandum of Understanding (“MoU”) with Chongqing iSIA Biotechnology Co., Ltd. (“iSIA”) to establish a basis of co-operation and collaboration between the HWGB and iSIA for the purposes of manufacturing and producing in vitro diagnostic devices (IVD).
Chongqing iSIA Biotechnology Co., Ltd. is an innovative enterprise dedicated to the R&D, production, sales and service for reagents and instruments of IVD. Equipped with its backbone of professional research team develop various new IVD production each year. The products cover a wide range of treatment and wellness such as COVID-19, infectious diseases, cardiovascular diseases, renal diseases, gastric diseases, autoimmune diseases, cancer, etc. iSIA is committed to provide a faster and more accurate detection methods that can assist doctors to implement effective treatment solutions, improve the treatment effect and reduce medical costs.
Chief Executive Officer of HWGB, Dato’ Aaron Lim expressed: “We are excited in signing this MoU as this is the beginning of a fruitful partnership between us and iSIA. With our subsidiary PT Ho Wah Genting located in Batam, Indonesia, we are capable of undertaking the manufacturing of the in vitro diagnostic products at the facility. Thus, with the collaboration with ISIA in place, HWGB will be not only able to manufacture but also sell in vitro diagnostic products and expand our market penetration globally.
Executive director of ISIA, Zhang Nianlin said: “We are certain that this collaboration will establish a beneficial working relationship between us and hope this will give our research team an edge to develop and produce new in vitro diagnostic products that is effective against COVID-19".
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.