Shares of Medtecs International Corp., a maker of medical apparel, traded for just a few Singapore cents at the start of the year before the pandemic roiled financial markets. Now they’re up almost 5,000%. Supernormal demand for essential reusable hospital garb, disposable personal protective equipment and workwear helped the Taipei-headquartered company’s net income grow about 100 times in the six months ended June 30 from the previous year. The stock is the top performer for Singapore and among the best in the global health-care supply sector for 2020.
The COVID-19 pandemic has profoundly changed people’s lives across the globe, wreaking havoc on everyone’s mental and physical health. Many of us have been coping with stress, depression, fear and anxiety as a result of the crisis.
Medtecs Group announced on 11 August 2020 its half-year financial results for the period ended 30 June 2020
Medtecs Group announced on 11 August 2020 its half-year financial results for the period ended 30 June 2020.The Group’s revenue increased significantly by 390.5% from US$33.2 million in 1H19 to US$162.6 million in 1H20 from increase in demand of personal protective apparels due to the COVID-19 global pandemic; which also raised awareness on healthcare products and led to increase in sales from our existing customers.
CEO William Yang has shown his confidence in the company by scooping up his first holdings in Medtecs shares. AS nations struggled to deal with the COVID-19 crisis earlier this year, MedTecs International Corp. – a Singapore-listed maker of surgical masks, medical coveralls and isolation gowns -was turning away orders for its products.
Medtecs Group recently was featured in 10-in-10, which is a research newsletter launched in 2019 by the Singapore Stock Exchange.
In the links below you will find the Group’s business objectives, key revenue drivers, future plans as well as the industry landscape presented and discussed in detail.