BCM Alliance inks supply contract for Covid-19 test kits

By NUR HAZIQAH A MALEK / Pic BERNAMA

BCM Alliance Bhd’s wholly-owned subsidiary BC Medical Sdn Bhd has signed an agreement to supply a total of 10 million Covid-19 antigen rapid test kits to a company in Thailand for a total consideration of RM320 million.

According to the contract with MTPS Innotech (Thailand) Co Ltd, the test kit would be shipped in batches and exported to Thailand over a period of one year, and the first batch would contain 1.5 million kits valued at RM48 million.

BCM Alliance ED Hoo Swee Guan said the company is gearing towards becoming a major distributor in medical-related products in Malaysia and the South-East Asia region.

“Even though the Covid-19 vaccination programmes are being rolled out worldwide including Malaysia, everyone has to continue to learn to live with the virus which mutates and these mutated viruses will be lingering around for many years to come.

“The new norm of social distancing, use of face masks, gloves, test kits and vaccination would continue,” he said in a statement yesterday.

BCM Alliance expects huge demand for new crown pneumonia virus test kits when cross-border travelling is allowed, and visitors and foreign workers likely made to undergo mandatory testing then.

Hoo noted that in Malaysia, the goal of the Health Ministry (MoH) is to complete 100,000 virus tests in one day.

“At present, it has passed 68 laboratories across the country, reaching 70,000 tests per day.

“To reach the target of 100,000 tests, the MoH expected to include hospital laboratories in the testing work and increase the number of inspections to 150,000, which is a positive factor for the inspection market,” he added.

BCM Alliance will send 200 free kits to MTPS in Thailand for clinical trials and registration, and assist the company in pro- viding the relevant information and documents required for the purposes of product registration.

The remaining amount of test kits would be delivered in accordance with the schedule agreed by both parties.

On March 11, MNC Wireless Bhd emerged as a substantial securities holder in BCM Alliance after buying 41.25 million shares or 8.722% stake via a private placement exercise, exchange filings revealed.

BCM Alliance in turn bought 100 million shares or 6.2% in Metronic Global Bhd via a similar exercise on Feb 23.

The company is seeking to raise fresh funds and recently fixed the issue price for the placement of 144.43 million shares at 22 sen per share. The stock closed up two sen at 31 sen yesterday, on high volumes