Chief executive officer and executive director Lim Taw Seong said the group had executed various transformation strategies that expanded the group’s product lines from marketing and distribution of dental-related products to medical devices and consumables. “In line with our transformation, UMediC managed to venture into the manufacturing of Hydrox prefilled humidifiers and AirdroX inhaler spacers.
It has raised RM31.1mil via the issuance of 97.22 million shares of which 11.3% of the proceeds was earmarked for the construction of a new factory building, 21.9% for the setting up of new marketing and distribution offices, 28.9% for the repayment of bank borrowings, 27.8% for working capital while the remaining 10.1% was allocated for listing expenses.
In addition, it will offer wider and more comprehensive medical devices to its end-customers, according to the statement. “The demand for medical devices keeps on increasing and our products are halal certified. Our products prioritised by Muslim friendly countries. Healthcare products will remain in demand,” Ng said.