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The Sun Daily – LKL, OCB To Explore Medical Devices Biz

PETALING JAYA: LKL International Bhd and OCB Bhd will jointly promote, market, distribute and sell selected medical products in Malaysia.

LKL International’s wholly owned subsidiary Medik Gen Sdn Bhd and OCB’s wholly owned indirect subsidiary Agrow Corp Sdn Bhd have signed a shareholders’ agreement to form and incorporate a joint venture (JV) company for the business.

Medik Gen and Agrow will invest RM250,000 for a 50% stake each in the proposed JV company, LKL Agrow Healthtech Sdn Bhd (LKL Agrow Healthtech). The investments will be funded via internally generated funds.

Both parties will also have equal representation on the board of directors with each party nominating two directors while the chairman will be appointed by rotation between the directors appointed by the parties, for a term of up to two years.

The JV would distribute a range of imported medical products, namely the Breathair® mattress from Toyobo Japan, nursing call systems from Alexys Australia, cleanroom solutions for hospitals from Dagard France, digital solutions and monitoring systems for hospitals from Melten Taiwan, and air purifier systems from Aerus USA.

Under the shareholders’ agreement, Medik Gen is responsible for the marketing, promoting and distribution of products in the medical and healthcare sector while Agrow would focus on senior living and commercial markets.

April 10, 2019

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