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THE HEALTH | JUNE , 2023
| Local News |
Signature Market delays listing plan
SIGNATURE Market , a Kuala Lumpur-based e-commerce platform , has postponed its plan to go public on Bursa Malaysia due to a decline in profitability , CEO and Co-Founder Edwin Wang confirmed to Tech in Asia .
Founded as Signature Snack in 2014 , the start-up wants to make healthier food products more accessible and affordable in Malaysia and the rest of Southeast Asia .
According to Companies Commission of Malaysia filings , Signature Market posted
Malaysian AIDS Council and DOC2US launch Virtual HIV Clinic a net profit of RM4.2 million ( US $ 929,000 ) in 2020 , and its after-tax profit for 2021 was RM10.4 million ( US $ 2.3 million ). The firm has yet to file its latest financials as its fiscal year ends on June 30 .
Wang said profit has dropped in the past two years due to consumers shifting back to offline shopping . As such , the start-up now focuses on growing its physical stores .
Recently , Signature Market opened its first mobile-enabled shop in IOI City Mall , a major shopping centre in Putrajaya , the country ’ s administrative and judicial capital . Customers can purchase snacks from the company ’ s online platform and collect them at the store .
Signature Market last raised US $ 1 million in a Series A round in 2019 from Axiata Digital Innovation Fund and RHL Ventures .
In 2021 , Wang had told The Edge that his company expected to list on Bursa Malaysia ’ s ACE Market the following year and would seek a transfer to the Main Market in 2023 .
IN conjunction with the International AIDS Memorial Day 2023 ( IAMD ), DOC2US , Malaysia ’ s leading digital health and e-prescriptions provider and the Malaysian AIDS Council ( MAC ), Malaysia ’ s leading non-profit umbrella organisation which supports and coordinates the efforts of nongovernmental organisations ( NGOs ) working on HIV and AIDS issues here , co-organised a commemoration event to officially launch DOC2US ’ Virtual HIV Clinic .
Responding to DOC2US ’ Virtual HIV Clinic initiative , MAC President Associate Professor Dr Raja Iskandar Shah Raja Azwa said : “ It is great to see a significant increase in telemedicine and virtual platforms available for medical consultations for persons with or at risk of HIV post-Covid-19 .
“ Working together with DOC2US and other private entities provides an additional option for access to care for people not currently engaged in care for various reasons to come forward , start treatment and be retained in care in a safe space without discrimination , thus preventing HIV-related complications .”
The Virtual HIV Clinic is the company ’ s effort dedicated to providing accessible , equitable and inclusive healthcare to People Living with HIV ( PLHIV ) and key populations through technology , in line with UN ’ s Sustainable Development Goal 3 ( SDG 3 ).
Leveraging on DOC2US ’ technology ,
the virtual clinic aims to be an avenue and alternative for PLHIV and key populations to seek free medical consultations on HIV or STD related matters through teleconsultations with DOC2US ’ licensed and board-approved doctors . The platform also allows PLHIV and key populations to obtain self-test kits , lab test referrals and e-prescriptions for medication .
Commenting on this , DOC2US CEO and Co-Founder Dr Raymond Choy stated : “ The digital space is a readily accessible and indiscriminate facility for everyone . Understanding the stigma , discrimination , or other challenges that PLHIV and key populations might face , we hope to provide a virtual outlet that enables people in need to seek treatment and care in confidence .”
IAMD 2023 is known to be one of the world ’ s oldest and largest grassroots mobilisation campaigns for HIV awareness . Under its global theme “ Spread Love and Solidarity to Build Stronger Communities ”, MAC and DOC2US aim to draw attention to the challenges individuals with HIV face due to ongoing discrimination , which can cause shame , self-doubt , and isolation .
Dr Choy also reiterated the company ’ s outlook to prioritise treatment for PLHIV in the country and encourage more fruitful public-private partnerships in the industry .
“ We want to enable equal access to healthcare and medication for everyone regardless of their background .
CRM inks strategic partnership to propel clinical research
CLINICAL Research Malaysia ( CRM ) renewed its partnership with IQVIA , a leading global provider of advanced analytics , technology solutions and clinical research services to the life sciences industry , at the CRM Trial Connect 2023 conference held at in Kuala Lumpur recently .
The renewal of its partnership with IQVIA on its Prime & Partner Site programme stems from the network ’ s success that was established since 2013 . The programme that saw the involvement of CRM and the Institute for Clinical Research ( ICR ), recorded a significant increase in IQVIA ’ s trial patient enrolment , reduction in contract timelines , high protocol compliance and greater performance at trial sites .
These achievements led to an increase in the number of clinical trials brought in by IQVIA , making them the country ’ s top contributing Contract Research
Organisation ( CRO ). The ICR-CRM-IQVIA network has grown to 18 Ministry of Health ( MoH ) study sites from just eight a decade ago . Key performances of these study sites are monitored and managed to ensure consistent and quality delivery of clinical trials . The network has led to many positive accomplishments and even received recognition by IQVIA early this year as a top-performing network .
The partnership renewal was witnessed by Health Minister Dr Zaliha Mustafa and Ben Laverty , Head of R & D Operations ( Southeast Asia , Australia and New Zealand ).
In parallel , CRM also formalised its partnership with Marken , a leader in end-to-end solution provider for clinical research . This strategic partnership is vital to Malaysia ’ s initiatives in expanding into decentralised clinical trials , especially on home health care services .
Ex-High Court judge appointed LKL chairman
DATUK Mohd Yazid Mustafa , a former High Court judge was appointed LKL International Bhd independent and non-executive chairman effective June 6 , 2023 .
The manufacturer of hospital beds
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stated in a stock exchange filing that Mohd Yazid , 66 , retired from the Judiciary at the end of December last year after more than 15 years of service as a High Court judge . He continues to serve as a Shariah Court of Appeal judge in Terengganu . Prior to becoming a judge , Mohd Yazid held several positions , including Sessions Court judge , magistrate , |
senior assistant registrar of the High Court , deputy public prosecutor , senior federal counsel , chairman of the cooperative tribunal , and registrar of the High Court . He also served in the Attorney General ’ s Chambers .
LKL is principally engaged in the provision of medical and healthcare beds , peripherals and accessories . The company ’ s manufacturing segment is involved in the manufacturing of medical and healthcare beds , medical
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peripherals and accessories while the trading segment is involved in trading of medical peripherals and accessories . The company serves its products to various end users such as hospitals and medical centres , as well as other healthcare-related facilities including clinics and specialist institutions . LKL operates its business in Malaysia , Africa , Asia , Europe and other regions but most of its revenue comes from Malaysia . – The Health |