Iconic Worldwide’s healthcare segment expands PPE product range for higher revenue

PENANG (Aug 20): Property developer Iconic Worldwide Bhd, a Bursa Malaysia listed company which is also involved in tourism and manufacturing of personal protective equipment (PPE) business, said it  has expanded its PPE products to include in-vitro diagnostic medical devices (IVD) and copper oxide face masks.

In a media statement today, Iconic Worldwide said this is part of its efforts to improve the revenue contribution from the PPE segment, which accounted for 15.19% of its total revenue in the financial year ended March 31,  2021 (FY21).

Its healthcare arm, Iconic Medicare Sdn Bhd, has tied up with an original equipment manufacturer (OEM) from the US for medical devices such as Coronavirus Ag Rapid Test Cassette (swab test), Covid-19 Ag Rapid Test Cassette (oral fluid) and SARS-CoV-2 Neutralizing Antibody Rapid Test Cassette (whole blood/serum/plasma).

Iconic Worldwide managing director Datuk Tan Kean Tet (pictured) said the company is in midst of applying for the Medical Device Authority’s (MDA) approval for the products to be sold in Malaysia. 

“Test kits are currently high in demand as factories are doing weekly screenings and the general public is also using it at home more frequently to test themselves. We target to launch these products by the fourth quarter of this year,” he added.

Additionally, Iconic Medicare Sdn Bhd has diversified its face masks product range by producing new types of protective masks such as KF99 and KN99 respirators. These come with a 3D mask structure for better fit and double melt blown protection which improves the overall filtration performance.

The recently-launched series of self-sanitizing copper oxide masks are also lab-proven to be able to kill 99% of virus particles after minutes of contact.

The expansion of Iconic Medicare’s range of PPE products is expected to contribute positively to the overall future earnings as well as the earnings per share of the group, added Tan.

Currently, Iconic Worldwide’s manufacturing facility located at Perai, Penang is capable of producing approximately 12 million pieces of face masks per month. Its healthcare arm, Iconic Medicare Sdn Bhd, will soon increase production of face masks as well as gloves once its new PPE manufacturing facility located in Batu Kawan is completed.

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