Iconic Worldwide Diversifies PPE Product Line to Generate Higher Revenue

Aug 2021

In response to the recent spike in demand, Iconic Worldwide Bhd (IWB), a Malaysian property, tourism, and healthcare supply company has planned to expand its range of personal protective equipment (PPE) goods to include in-vitro diagnostic medical devices (IVD) and copper oxide face masks. It presently produces around 3.5 billion pieces of gloves and 220 million pieces of face masks every year.

Iconic Medicare Sdn Bhd (IMSB), a healthcare subsidiary of IWB has partnered with a United States OEM for medical devices such as the Coronavirus Ag Rapid Test Cassette (swab test), Covid-19 Ag Rapid Test Cassette (oral fluid), and SARS-CoV-2 Neutralizing Antibody Rapid Test Cassette. IMSB is seeking clearance from Malaysia’s Medical Device Authority (MDA) for importation and distribution before they can reach the market in the fourth quarter of 2021.

After the completion of its new PPE manufacturing facility in Batu Kawan, Penang state, IMSB will further increase the production of face masks and gloves. It has expanded its face mask product line by developing additional protective masks, such as the KF99 and KN99 respirators. These include a 3D mask structure that improves overall filtration and the highest-quality protective respirators available.

IMSB has undertaken the product testing process and achieved several ISO certifications as well as European Union (EU) and Great Britain (GB) standards for the domestically produced gloves and face masks and as part of its exportation plan in the future.  The expansion of IMSB’s PPE product line is likely to benefit IWB’s overall future earnings and earnings per share, as part of the Group’s attempts to boost sales from its PPE business, which contributed 15.19% of total revenue in the fiscal year ended March 31, 2021.

(Sources: The Edge Markets; New Straits Times)

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