On Oct 23, 2020, it entered into an MoU with Zuellig Pharma to collaborate on the distribution of Covid-19 vaccines in Malaysia. Another MoU was signed between Kanger and K-Star on Oct 26, 2020 for the purpose of appointing K-Star as the sale agent of the vaccines for private clinics here. In separate bourse filings on Wednesday (May 18), the ACE Market-listed Kanger said the MoUs have been terminated following the approval by the DCA for another company to be the registered holder for the Sinopharm Covid-19 vaccines. Kanger also said its MoU with the Sabah State government for the purpose of procuring and importing the Sinopharm vaccines into Sabah whereby Kanger would be appointed as the sole and exclusive distributor of the Sinopharm vaccines in the State has also been terminated. On Tuesday (May 17), Kanger announced that it had terminated a collaboration agreement with Sinopharm Group Hunan Changde Medical Co Ltd.Kanger shares closed down 0.5 sen or 8.33% at 55 sen on Wednesday, bringing it a market capitalisation of RM30.66 million.

Source: The Edge Markets May 19, 2022 02:36 UTC