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Tuesday, March 24, 2020

Quick take: LKL jumps 35% in active trade

Tuesday, 24 Mar 20209:11 AM MYT

KUALA LUMPUR: Shares in LKL International Bhd jumped 35% in active trade on Tuesday morning after the company said it was set to fulfil increasing medical equipment demand.

The medical/healthcare beds, peripherals and accessories provider surged 35%, or 3.5 sen to 13.5 sen. It is currently one of the most actively traded counters on Bursa Malaysia with 2.8 million shares done.

Managing director Lim Kon Lian said the group was ready to fulfil the high demand for medical equipment from hospitals in Malaysia and foreign countries in their battle against Covid-19.

He said LKL has received numerous requests for essential medical equipment from hospitals in various states across Malaysia, as well as from foreign countries, including Italy, Maldives, Mauritius, Brunei, and Bangladesh.

“This includes an urgent enquiry of 50,000 hospital beds to be supplied within a five-month time frame to one of the export markets, indicating the high-level urgency to expand their capacity,” he said in a statement.

Earlier, Prime Minister Tan Sri Muhyiddin Yassin said the government would channel an additional allocation of RM500mil to the Health Ministry to support its efforts to manage the Covid-19 pandemic nationwide.

It would be for the purchase of various items, including ventilators and Intensive Care Unit (ICU) equipment, additional personal protective equipment (PPE) for medical personnel, as well as laboratory requirements for the screening of COVID-19.

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