Shares of certain companies were likely responding to the latest development on Malaysia’s vaccine deal

By AFIQ AZIZ / Pic BLOOMBERG

TRADING of shares of non-pharmaceutical companies that have announced vaccine supply and distribution plans spiked in the wake of the government signing a deal to purchase vaccines from Pfizer Inc last Friday.

Bintai Kinden Corp Bhd and Kanger International Bhd, have announced purchase and distribution contracts to the exchange recently, were the most actively traded shares in Bursa Malaysia yesterday.

Bintai Kinden rose 29.5 sen or 34% to RM1.14 in active trading yesterday, leading the exchange to issue an unusual market activity query to the company yesterday.

The company’s share price has soared more than six times in value since August on its announcement to enter into distribution and licensing agreement with US-based firm Generex Biotechnology Corp and its subsidiary NuGenerex Immuno-Oncology Inc for their Covid-19 vaccine in Malaysia.

Bintai Kinden’s subsidiary, Bintai Healthcare Sdn Bhd, had been granted the exclusive rights to distribute, sell and commercialise the Covid-19 vaccine. Bintai Kinden was the third most actively traded counter yesterday with some 482.8 million shares traded.

Bamboo flooring maker Kanger International, the fifth most actively traded, yesterday with 403.6 million shares exchanging hands and the stock rising half a sen to 17.5 sen.

Kanger International diversified its business proposition and partnered China National Pharmaceutical Group Co Ltd (Sinopharm) to distribute Covid-19 vaccine to the private sector.

Kanger International said it had received support from the Ministry of Science, Technology and Innovation to purchase Covid-19 vaccines for private-sector use in Malaysia.

MIDF Research analyst Noor Athila Mohd Razali said shares of these companies were likely responding to the latest development on Malaysia’s vaccine deal and the profit prospect that could be earned for the deal.

“They are probably riding on the coat tail of pharmaceutical companies by coming out with some sort of “vaccine-related service”, which are yet to be justified.

“Even if they claim to have the distribution abilities or joint venture (JV) with some companies to develop Covid-19 vaccines, again, these have yet to be justified as the pharmaceutical industry is a highly regulated industry and has a higher barrier to entry,” said Noor Athila to

The Malaysian Reserve yesterday. “Even to distribute the vaccines, you need to have a pharmaceutical wholesale distribution licence from the Health Ministry which only five companies have in Malaysia,” she added.

Metronic Global Bhd, which was the latest seeking to leverage the vaccine thematic after its subsidiary Metronic Medicare Sdn Bhd (MMSB), inked a memorandum of agreement with Medigen Vaccine Biologics Corp (MVC) of Taiwan to distribute Covid-19 vaccine in Malaysia and potentially other countries last month.

The company said MVC, an international pharmaceutical and a specialised biopharmaceutical company listed on the Taiwan Stock Exchange, has developed the vaccine which has entered clinical development and is requesting MMSB to distribute the vaccine.

The company develops flu vaccine, enterovirus vaccine and other related products. MVC markets its products worldwide. Metronic was the 12 most actively traded counter yesterday but closed unchanged at 12 sen a share.

Ho Wah Genting Bhd (HWGB) shares jumped by six sen yesterday to close at 85 sen and was the 13 most actively traded counter.

Its wholly-owned subsidiary HWGB Biotech Sdn Bhd’s JV partner, US-based E-MO Biology Inc (EBI), entered into a new clinical trial agreement (CTA) with US-based Roderick A Comunale II MD Inc and America Diagnostics & GeneScan Diagnostics Inc.

This new CTA is the latest inked deal following EBI obtaining a CTA approval from the US Food and Drug Administration to commence its Phase 4 clinical research study on the poliovirus vaccines.

The company develops flu vaccine, enterovirus vaccine and other related products. MVC markets its products worldwide.