In a bourse filing today, the company said it expects to obtain approval from the Medical Device Authority under the Ministry of Health, as well as targeted overseas markets that have high demand for such products. "These include potentially the US, Europe and Asean countries subject to the necessary approvals of the authorities in the respective countries."
On May 6, K-One Tech announced that it was venturing into the manufacturing of nasal swabs that are used to collect fluid specimens from the back of the nasal cavity.
"The nasal swab is then placed into a vial that contains a culture medium before it is transported to a laboratory for testing of Covid-19. Nasal swabs are typically manufactured using injection molding and flocking, which includes tufts of polyester material attached to the end of a plastic shaft," it said.
The company believes that the Covid-19 pandemic is causing an overdrive in demand for nasal swabs, which has impacted supply.
K-One Tech said it had placed an order with a "reputable US-based 3D printing technology developer and manufacturer to supply 3D printers for the purpose of 3D printing the nasal swabs".
K-One Tech shares closed up 2.5 sen or 11.11% at 25 sen today, bringing it a market capitalisation of RM182.23 million.
Source: The Edge Markets