Iconic Worldwide inks MoU with HK’s Limmas Corp

TheStar Fri, Apr 09, 2021 08:35am - 1 month ago


Iconic Worldwide managing director Datuk Tan Kean Tet

KUALA LUMPUR: Iconic Worldwide Bhd's unit Iconic Medicare Sdn Bhd has inked a memorandum of understanding (MoU) with Limmas Corp Ltd for the sale and purchase of powder-free nitrile examination gloves.

In a statement, Iconic said Limmas intends to purchase 100 million pieces of the product in various available sizes each month for a period of 12 months and may order it from time to time.

It said a formal agreement would be entered into within three months from the date of the MoU or at any date to be mutually agreed by both parties.

Limmas is involved in international trading of medical products and personal protective equipment (PPE), while the principal activities of Iconic Medicare is that of a manufacturer, distributor and dealer of PPE products and related appliances.

Iconic managing director Datuk Tan Kean Tet said that the rationale of Iconic Medicare entering into the MoU is to enable the company to take leverage on the future demand pattern of the customer for its products and provide a strong indication on the future output requirements of the products.

“The MoU will also provide valuable data for the manufacturing and financial planning processes. This will also enable Iconic Group to offer new business opportunities that will expand its revenue base and enhance shareholders’ value, as well as reduce the reliance on existing business segments,” he said.

Tan said the new orders when combined with the existing orders in hand, all 12 production lines which have a capacity to produce 3.5 billion gloves per annum have been fully taken up.

“We are currently looking for more land to further expand our production capacity,” he added.






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