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KUALA LUMPUR: Property developer Titijaya Land Bhd
You are joining a growing list of local companies listed in the medical device industry.
Group Deputy Managing Director Lim Poh Yit said in a statement today that economic uncertainty and possible long-term health risk to the general public due to the Covid-19 onslaught has required Titijaya’s involvement in the business. related to medical care.
The company announced today that it has signed a strategic collaboration agreement with Sinopharm Medical Equipment QuanZhou Co Ltd of China to develop the marketing and sales, marketing and supply of medical and hospital equipment as well as real estate related to the medical industry.
The immediate goal will be to produce medical supplies to combat the Covid-19 pandemic, such as personal protective equipment (PPE), RT-PCR test kit, rapid test kit and mobile test laboratory, among other needs.
“This business will provide Titijaya with a good opportunity for growth expansion in its main real estate business by providing medical related real estate, which implies infrastructure, land and facilities for operators in the medical industry, as recommended by Sinopharm and your network, “said Lim.
“The geographic areas this joint commercial development will cover will include Southeast Asian and other Asian countries, a potentially large market for Titijaya and Sinopharm in real estate and medicine-related businesses,” he said.
Sinopharm is part of Sinopharm China National Medical Device Company, which is an entity of the state-owned China National Pharmaceutical Group Corp (Sinopharm Group).
Sinopharm Group’s business encompasses research and development (R&D), manufacturing, logistics and distribution, retail chain, healthcare, engineering services, exhibitions and conferences, international business and financial services.
The agreement signed between Titijaya and Sinopharm will remain in force for a period of five years and is subject to a renewable period of five years.
The business related to medical collaboration will serve public and private medical facilities, taking advantage of the supply and value chain of the Sinopharm Group in China, as well as the networks of both parties.
Meanwhile, Titijaya will be responsible for the real estate related to the medical industry, providing infrastructure, land and facilities.
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