Hong Seng Unit Signs Deal to Offer Virtual Covid-19 Screening

Hong Seng Consolidated Bhd said its unit eMedAsia Sdn Bhd has signed a deal to provide virtual Covid-19 screening (VCS) services jointly with a digital health firm.

eMedAsia, a 60%-owned subsidy of HS Bio Sdn Bhd, which in turn is wholly-owned by Hong Seng, has entered into a collaboration agreement with CLEA Technology Sdn Bhd, said Hong Seng in a bourse filing.

The healthcare industry supply chain management specialist said eMedAsia and CLEA expect virtual RTK Antigen testing “to be the next method allowed to fulfill travelling requirements”.

eMedAsia is owned by HS Bio in partnership with Koperasi Persatuan Perubatan Malaysia (KOOP MMA), an investment vehicle for members of the Malaysian Medical Associations (MMA). MMA is the main representative body for registered medical practitioners in Malaysia.

CLEA meanwhile is in the business of digital health and has a digital platform to conduct Covid-19 professional RTK Antigen testing via virtual CLEA screening’s in-app methodology through its partnership with selected private clinics or doctors.

Hong Seng said it expects the deal to contribute positively to the future earnings of the group when all the potential services to be offered by eMedAsia from the agreement are rolled out.

Hong Seng’s share finished two sen or 0.77% higher at RM2.61, valuing the group at RM6.67 billion.