MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K) 26 In February 2021, the Group launched its deep-throat saliva-based COVID-19 test kit, pioneering its use in the Malaysian and Philippine markets. The test kit’s advantage includes being able to detect new COVID-19 virus strains while reducing the risk of close contacts. Testing can be done in the confines of the home or workplace. The test kit enables early and accurate detection, which supports a timely intervention to contain the spread of the virus. It helps to ensure that those infected can be quickly diagnosed, provided medical assistance and quarantined if needed. Also in the month of February 2021, MYEG introduced MySafeQ, an online portal by offering an array of hotel accommodation and amenity options available to low-risk COVID-19 positive patients wishing to undergo mandatory quarantine requirements in more comfortable settings. Apart from hotel accommodation, additional services such as COVID-19 swab tests, transportation to hotels and other amenities were also provided as part of the programme. This provided a more complete customer experience and enabled MySafeQ to function effectively as a one-stop centre for low-risk positive patients. In May 2021, MYEG announced that it entered into a MOU with Singapore’s Breathonix to establish a commercial partnership. The objective of the partnership is to develop a rapid real-time breath based COVID-19 screening system for use in Malaysia. Compared with reverse transcription polymerase chain reaction (“RT-PCR”) tests, which is costly and time-consuming, Breathonix’s breath test system is a non-invasive, accurate and affordable solution that can generate results within a minute. The collaboration would also include obtaining regulatory approval in Malaysia to sell and/or lease Breathonix’s breath analysis technology for identifying specific COVID-19 bio-markers, and to subsequently produce rapid COVID-19 test results in Malaysia. This collaboration would also see the establishment of an exclusive distribution relationship for the sale and/or lease of Breathonix’s technology and systems in Malaysia. Additionally, further strengthening its collaboration with the government in addressing COVID-19 challenge, the Group, in May 2021, received a letter of acceptance from MIMOS Berhad in relation to the provision of service desk and its related services for vaccine traceability system with tenure of one year from 1 June 2021 to 31 May 2022, with an option to extend for a further one-year term upon its expiry. In June 2021, MYEG Medical as well as MYEG Philippines, a joint venture (“JV”) company of MYEG, entered into separate JV agreements in their respective territories. MYEG Medical entered into a JV Framework Agreement with Shigatse Service Co., Ltd. (“Shigatse”) to establish a JV company in Malaysia while, MYEG Philippines entered into a JV agreement with SinoPhil Biotech Inc. (“SPB”) and Shigatse to establish a JV company in the Philippines. The aforementioned JVs are intended to facilitate exclusive procurement, import, distribution of recombinant protein subunit vaccine for COVID-19 vaccines and all other related business activities related to the distribution of the vaccine in these respective territories. In addition, through MYEG Philippines, the Group entered into a strategic partnership with SPB and Family Vaccine and Specialty Clinics, Inc.’s (“FVSC”) Health Direct Now for the provision of a COVID-19 vaccination programme in the Philippines that aims to cover not only the supply of the vaccines to the public health segment as part of the Philippines national vaccination programme, but also private sales too. Also in June 2021, MYEG signed a LOI with Zhifei to purchase 10 million doses of Zhifei’s vaccine. This is pursuant to the Malaysian government’s decision to enable these vaccines to be made commercially available to the private sector, subject to the conditional authorisation by the National Pharmaceutical Regulatory Agency. The vaccine has already been administered worldwide, including in China, Uzbekistan, Indonesia and Ecuador. In November 2021, subsequent to the aforementioned collaboration formed with Breathonix, the Group, through MYEG Medical, received a notification from the Medical Device Authority under MOH, stating the latter’s approval for the use of Breathonix’s BreFence Go. BreFrence Go serves as an alternative for mass COVID-19 screening at the country’s entry points including international airports. This is in accordance with the prevailing national protocols and guidelines pertaining to COVID-19 infection control. MYEG has also been appointed as exclusive distributor for BreFrence Go in Malaysia for a period of 3 years, commencing 22 December 2021. MANAGEMENT DISCUSSION AND ANALYSIS REVIEW OF THE MACRO-OPERATING ENVIRONMENT (CONT’D)
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