14/09/2020

PETALING JAYA: Interesting developments are taking place at Ace Market-listed MMAG Holdings Bhd.
Its share price is on a tear and it is gunning to provide an integrated Covid-19 testing system for countries looking to resume travel in a safe and secure manner.

According to a reply to an unusual market activity (UMA) query the company received last Friday, MMAG is also looking to acquire an air cargo company to boost its logistics and courier services business, Line Clear Express and Logistics.
In addition, MMAG announced that it has acquired a company called Maasdots Sdn Bhd which has a health screening system called Travellers Advanced Health Screening System or TAHSS.

“With TAHSS, we will be able to secure and monitor the borders between countries.

“This system is intended to integrate with health, travel and immigration authorities and is used for the screening of inbound and outbound visitors to the country, ” MMAG explained in a statement to the media.
Apart from that, MMAG has plans to work with eMedAsia Sdn Bhd, in the implementation of TAHSS to ensure maximum coverage and network penetration for users.
Sources said that MMAG is close to winning this contract in Malaysia and other countries, as governments race to combat the spread of Covid-19.
When contacted, MMAG’s chief financial officer Kenny Khow Chuan Wah declined to confirm if MMAG has won such a contract but only repeated what the company had said on Friday.
“The number of travellers to Malaysia this year is expected to be only 15% to 25% of 26.1 million travellers recorded in 2019.
“As such, if implemented in Malaysia, TAHSS has the potential to record 2.2 million travellers in the first year, who will be charged a US$20 fee per individual, ” said Khow.
In the media release, MMAG’s newly appointed chairman Datuk Rathakrishnan Vellaisamy said this: “The TAHSS health screening system will make travelling easier, more convenient and seamless.
“The traveller only needs to undergo a Covid-19 test at a designated clinic or hospital.
“Everything else is connected and registered within the system and the traveller can proceed with travel plans upon clearance notification.”
He added: “Maasdots is exploring with partners in many countries such as Nepal, Sri Lanka, Indonesia, Saudi Arabia, United Arab Emirates and others to market TAHSS for their countries’ needs.
“Maasdots is currently also in discussions with the relevant ministries and agencies of the Malaysian government to roll out the implementation of the system.”
Another development at MMAG is the changes in shareholding that have taken place.
In July, its major shareholder and executive chairman Datuk Khan Mohd Akram Khan left the company after divesting his 7.48% stake via Cypress Valley Sdn Bhd.
Since then, Khow has acquired shares in MMAG and now controls 14.3% of MMAG, making him the second largest shareholder after non-independent non-executive director Chan Swee Ying with 26.5%.
Khow said that there may be more shareholding changes to come, as the company is looking for strategic investors to help build up its businesses.
On the Covid-19 testing prospects, Khow pointed out that while testing is already going on for inbound and outbound travellers into Malaysia, the system isn’t robust or networked enough.
More importantly, there have been instances of fraud. In June, the police had received document forgery reports where the names of health centres may have been used to issue fake Covid-19 results.

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