Iconic Worldwide expands PPE products range, improves revenue contribution - MIDA | Malaysian Investment Development Authority
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Iconic Worldwide expands PPE products range, improves revenue contribution

Iconic Worldwide expands PPE products range, improves revenue contribution

20 Aug 2021

Iconic Worldwide Bhd (Iconic Worldwide) has expanded its range of personal protective equipment (PPE) products to include in-vitro diagnostic medical devices and copper oxide face masks, in line with the recent surge in demand.

In a statement today, Iconic Worldwide said this was part of its efforts to improve the revenue contribution from its PPE segment, which accounted for 15.19 per cent 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 United States for medical devices such as Coronavirus Ag Rapid Test Cassette (swab test), COVID-19 Ag Rapid Test Cassette (oral fluid) and SARS-CoV-2 Neutralising Antibody Rapid Test Cassette (whole blood/serum/plasma),” it said.

Managing director Datuk Tan Kean Tet said the group is in the midst of applying for the Medical Device Authority’s approval for the products to be sold in Malaysia.

“Demand for test kits is currently high as factories are doing weekly screenings, and many people are also using it at home more frequently to test themselves.

“We aim to launch these products by the fourth quarter of this year,” he said.

Iconic Worldwide said its healthcare unit has also diversified its face mask product range by producing new types of protective masks  such as KF99 and KN99 that comes with a 3D mask structure for better fit and double melt-blown protection which improves the overall filtration performance.

“These are the highest standard protective respirators available, therefore, with the rising number of cases recently, we are seeing a huge demand for this product in the market,” said Tan.

He added that the expansion of the PPE product range is expected to contribute positively to the group’s overall future earnings as well as its earnings per share.

Source: Bernama