MQTech Seeks Covid-19 Vaccine Supply Rights via Penang Firm

KUALA LUMPUR: MQ Technology Bhd (MQTech) is looking to get the rights to potential Covid-19 vaccine via a Penang-based company.

MQTech said it was in talks to buy a 70 per cent stake in the Penang-based leading manufacturer of rubber components in the Asia Pacific.

The Penang company had approval in principal to get a supply of potential Covid-19 vaccine from a Chinese pharmaceutical company, it added.

The potential vaccine, once approved, will be distributed in the Asean region, among others.

The Penang firm was selling its medical appliances to and sourcing Covid-19 test kits from the giant pharmaceutical company, MQTech said, without naming the firms.

The Penang company’s track record in R&D has put it in the forefront in the design and manufacturing of rubber components in the region.

“The Penang company’s many significant creative and technological breakthroughs through the years have exerted much influence on the development and growth of the rubber component manufacturing industry.

“It has also wide experiences working with many local company as well as international corporations in the IT, electronics, audio-visual, telecommunication, automotive, pharmaceutical and home appliance industries,” MQTech said.

MQTech was incorporated on December 2 2003 under the name MQ Technology Sdn Bhd.

On February 13, 2004, it was converted to a public limited company and since then assumed its present name.

Its subsidiaries provides advanced and high precision mould making, magnetic coils for hard disk drive and services.

Source: https://www.theedgemarkets.com/article/covid19-malaysia-reports-14-new-cases-21-recoveries-one-death

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