PETALING JAYA: Titijaya’s wholly owned subsidiary Titijaya Resources Sdn Bhd (TRSB) is collaborating with China’s Sinopharm Medical Equipment QuanZhou Co Ltd to develop the marketing and sale, trading and supply of medical and hospital equipment and products, as well as medical industry-related real estate.
The collaboration is for five years and subject to a renewable period of five years.
Sinopharm is part of Sinopharm China National Medical Device Co, whose holding company is China National Pharmaceutical Group Corp (Sinopharm Group).
Titijaya deputy group managing director Lim Poh Yit said the economic uncertainties and possible long-term health risks posed from the onslaught of Covid-19 have necessitated Titijaya’s involvement in the healthcare-related business.
“That will provide Titijaya with a good opportunity for growth expansion in its real estate core business. The geographical areas to be covered by this joint business development will include South East Asian countries and other Asian countries, potentially providing a large market for Titijaya and Sinopharm,” he said in a statement.
The collaboration will leverage on Sinopharm Group’s and/or Sinopharm’s supply and value chain throughout China as well as TRSB’s and Sinopharm Group’s networks.
The main immediate focus will be medical supplies for combating Covid-19, such as personal protection equipment, RT-PCR test kit, rapid test kit, mobile test lab, and other necessities.
TRSB will be responsible for medical industry-related real estate by providing infrastructure, land and facilities for the medical industry operators recommended by Sinopharm Group or Sinopharm.