medical device

 
 

LKL, OCB to explore medical devices biz

PETALING JAYA: LKL International Bhd and OCB Bhd will jointly promote, market, distribute and sell selected medical products in Malaysia.

LKL International’s wholly owned subsidiary Medik Gen Sdn Bhd and OCB’s wholly owned indirect subsidiary Agrow Corp Sdn Bhd have signed a shareholders’ agreement to form and incorporate a joint venture (JV) company for the business.

Medik Gen and Agrow will invest RM250,000 for a 50% stake each in the proposed JV company, LKL Agrow Healthtech Sdn Bhd (LKL Agrow Healthtech). The investments will be funded via internally generated funds.

Both parties will also have equal representation on the board of directors with each party nominating two directors while the chairman will be appointed by rotation between the directors appointed by the parties, for a term of up to two years.

The JV would distribute a range of imported medical products, namely the Breathair® mattress from Toyobo Japan, nursing call systems from Alexys Australia, cleanroom solutions for hospitals from Dagard France, digital solutions and monitoring systems for hospitals from Melten Taiwan, and air purifier systems from Aerus USA.

Under the shareholders’ agreement, Medik Gen is responsible for the marketing, promoting and distribution of products in the medical and healthcare sector while Agrow would focus on senior living and commercial markets.


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InvestKL hopes to bring in 13 MNCs this year

KUALA LUMPUR: InvestKL, which attracted 12 multinational companies (MNCs) in 2018 with approved and committed investments of RM2.3 billion, aims to attract 13 MNCs from the US, Europe, China, Japan and South Korea in 2019.

InvestKL CEO Datuk Zainal Amanshah said these countries are strong in the six sectors that the investment promotion agency is pursuing, which are smart technologies, consumer technologies, e-commerce, medical devices, industrial automation as well as energy and renewables.

He said the optimism for the year stems from seeing companies engaging in e-commerce and digital business, which are new activities for existing companies moving up the value chain. Confidence to attract more MNCs also comes from the country’s track record and strong fundamentals.

“When we engage with MNCS, we encourage them to have their hubs here that incorporate activities like regional management hubs, centres of excellence, business hubs, ideation hubs… moving up the value chain, which is a key agenda; and working with the ecosystem to support talent, logistics, business collaboration and facilitation,” Zainal told a media briefing here today.

InvestKL’s 2018 performance that saw the creation of 1,339 jobs was similar to 2017’s investments by 12 MNCs worth RM2.2 billion that created 1,689 jobs. Zainal attributed its flat performance in 2018 to external factors as opposed to domestic reasons.

“When the US decided to change their tax codes, a number of companies have to re-evaluate the benefits of expansion into the region because these tax codes encouraged US companies to invest in the US, therefore companies have to delay their decision-making. The trade war, uncertainties and (events like) Brexit also caused delays in decision-making.”

The 12 MNCs secured in 2018 are Fortune 500 companies, which are Orange (France), MetLife (US), Electrolux (Sweden), EY (UK), Accenture (Ireland), PersolKelly (Japan/US), China Pacific Construction Group (China), Wood (UK) and hidden champions such as Pickles Auctions (Australia), United Imaging (China), Bertling (Germany) and Zalora (Germany).

Zainal said the country’s economic growth, talent pool, ecosystem, as well as the growth of Asean are among factors high on the MNCs’ evaluation list when investing in a country.

“Various reforms by the government in terms of transparency, procurement, removal of corruption are well received by investors,” he added.

He noted that InvestKL remains focused on attracting high-value, high-skilled and innovation-led investments to create quality jobs for Malaysians. Despite a slower global economy and US-China trade tensions, its investment pipeline is resilient as investment decisions are made over a longer period. Investors are also positive about Industry 4.0 which aims to make the country the prime destination for the manufacturing and services industry.

To date, InvestKL has attracted 78 MNCs with approved and committed investments of RM11.7 billion, as well as the creation of 11,693 regional high-skilled jobs since 2011.

From 2011 to 2018, 57% or RM6.63 billion of the RM11.7 billion investments have been realised. In addition, 64% or 7,516 of the 11,693 high skilled regional jobs are already on the payroll. Of these 7,516 jobs, 80% employed are Malaysians with an average annual income of RM110,124.


InvestKL secures RM2.3b worth of investments in 2018

KUALA LUMPUR: InvestKL attracted 12 multinational companies (MNCs) in 2018 with approved and committed investments of RM2.3 billion, similar to 2017’s investments by 12 MNCs worth RM2.2 billion.

The 12 MNCs secured in 2018 are Fortune 500 companies, which are Orange (France), MetLife (US), Electrolux (Sweden), EY (UK), Accenture (Ireland), PersolKelly (Japan/US), China Pacific Construction Group (China), Wood (UK) and hidden champions such as Pickles Auctions (Australia), United Imaging (China), Bertling (Germany) and Zalora (Germany).

Speaking at its media update here this morning, InvestKL CEO Datuk Zainal Amanshah (pix) attributed its flat performance in 2018 to external factors rather than domestic reasons.

For 2019, InvestKL aims to attract 13 MNCs from the US, Europe, China, Japan and South Korea.

These countries are strong in the six sectors that it is pursuing, which are smart technologies, consumer technologies, e-commerce, medical devices, industrial automation as well as energy and renewables.


InvestKL attracts 12 MNCs in 2018, records RM2.3b investments

KUALA LUMPUR, March 18 — InvestKL has bucked the 2018 global investment trend by attracting 12 innovative global multinational companies (MNCs), with approved and committed investment of RM2.3 billion while creating 1,399 jobs. Its chief executive…


InvestKL secured RM2.3b worth of investments last year

KUALA LUMPUR: InvestKL attracted 12 multinational companies (MNCs) in 2018 with approved and committed investments of RM2.3 billion, similar to 2017’s investments by 12 MNCs worth RM2.2 billion.

The 12 MNCs secured in 2018 are Fortune 500 companies, which are Orange (France), MetLife (US), Electrolux (Sweden), EY (UK), Accenture (Ireland), PersolKelly (Japan/US), China Pacific Construction Group (China), Wood (UK) and hidden champions such as Pickles Auctions (Australia), United Imaging (China), Bertling (Germany) and Zalora (Germany).

Speaking at its media update here this morning, InvestKL CEO Datuk Zainal Amanshah (pix) attributed its flat performance in 2018 to external factors rather than domestic reasons.

For 2019, InvestKL aims to attract 13 MNCs from the US, Europe, China, Japan and South Korea.

These countries are strong in the six sectors that it is pursuing, which are smart technologies, consumer technologies, e-commerce, medical devices, industrial automation as well as energy and renewables.


Meeting demands of the halal industry

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Matrade pushes for medical devices association

KUCHING: In an effort to champion medical devices industry (non-medical glove) agenda in international trade, Malaysia External Trade Development Corporation (Matrade) has introduced the country’s first association for the industry’s manufacturers called Persatuan Perkilangan Peranti Perubatan (Perantim). The association was launched by Dr Ong Kian Ming, Deputy Minister of International Trade and Industry accompanied by […]


Indonesia seeks multi-billion S. Korea trade deal by November

JAKARTA, Feb 20 — Indonesia aims to sign a long-stalled free trade deal with South Korea by November in a move that could boost two-way trade by billions of dollars, its trade ministry said today. The deal would help to unlock vast natural…