K-One Eyes production of ventilators to fight COVID-19
13 Apr 2020
K-One Technology Bhd plans to expand its medical and healthcare product portfolio by venturing into the manufacture of ventilators for supply to hospitals.
The company said it is studying the ventilator design and intends to build a prototype, with manufacturing expected to commence by the third quarter of this year.
However, this is subject to getting the necessary approvals from the relevant authority, namely the Medical Device Authority under the Ministry of Health Malaysia.
“In the wake of COVID-19, the company intends to further expand its product portfolio in this hour of crisis, both from the business sustainability and corporate social responsibility angles,” it said in a filing with Bursa Malaysia today.
K-One Technology has recently obtained open source design files of a ventilator model released to interested parties by a multinational in the medical and healthcare industry.
The plan is expected to have a positive impact on its earnings and net asset per share for the financial year ending Dec 31, 2020, the company said, adding that the product development will be funded through internally generated funds.