The Board of Directors of KPower have announced that KPower Healthcare & Technologies Sdn. Bhd. (KPHealthTech) in Malaysia, a wholly-owned subsidiary of KPower, has accepted a letter of award from PT. Arna Cahaya Medika (PT Arna) for the supply of polymerase chain reaction (PCR) Reagent Kit for COVID-19, for a minimum total contract price of $6 million (equivalent to approximately RM24.05 million).

KPHealthTech will make a request for the supply of the PCR KITS from the relevant manufacturer of the PCR KITS appointed by KPHealthTech and deliver the PCR KITS to PT Arna’s warehouse located in Jakarta, Republic of Indonesia.

“The contract is expected to contribute positively to the net assets, consolidated earnings and earnings per share of the company for the financial year ending June 30, 2021 to June 30, 2022,” it added. 

KPower will also be acquiring a 70% stake in Granulab (M) Sdn Bhd for RM1 million from Sirim Bhd’s wholly-owned subsidiary Sirim Tech Venture Sdn Bhd. Granulab, which is wholly owned by SIRIM Bhd, is a Bio-Nexus status company involved in medical device manufacturing for granular synthetic bones graft and all activities relating to manufacturing of medical devices and/or products.

KPower aims to expand its business into healthcare and technology-related activities around the current surge of global demand for healthcare products.