Apart from offline channels like convenience shops and department stores, the Group also leverages major e-commerce sites such as Alibaba and Amazon to sell its PPE range. “We’re also looking to set up distribution channels across North America, Japan and Europe to extend the reach of our products.”
Medtecs are listed on Singapore Exchange (SGX) . Click here to understand more.
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.
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.
MEDTECS International is planning to transfer the company’s listing from the Catalist to the mainboard of the Singapore Exchange (SGX), it said on Monday. Separately, Medtecs also announced that the group will be included in the MSCI Singapore Small Cap Index from Nov 30, after the market close on that day.