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THE HEALTH | SEPTEMBER , 2023
| Local News |
Careplus diversifies into EV business
LOSS-MAKING glovemaker Careplus Group Berhad announced it is diversifying into the electric vehicle ( EV ) business amidst challenges in the glove industry . This follows the Group ’ s June announcement that it is exploring the business of EV selling and manufacturing with its joint venture ( JV ) partner GoAuto Group Sdn Bhd .
In its latest announcement , Careplus said that in light of difficulties facing major glove players in the market , it has been actively looking for opportunities to diversify into other viable industries .
“ In line with this strategy , the group has identified the EV business as a new and sustainable income source , which
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is expected to mitigate the group ’ s reliance on the glove business ,” it said in a Bursa Malaysia filing .
Careplus said , the diversification is anticipated to be good for the Company as it uses GoAuto ’ s and the Neta brand EV ’ s technical know-how and experience . It will also make the most of its 74 acres of land in Chembong , Negeri Sembilan to develop an EV manufacturing and assembly hub and
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a dealership and distribution facility using its Careplus Mall .
“ Barring any unforeseen circumstances , the board believes the proposed diversification will contribute to the Group ’ s future earnings . Notwithstanding the proposed diversification , the Group is committed to continue improving the operational efficiencies and profitability of its gloves business ,”
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it added .
Meanwhile , the Group has proposed offering financial support to Intro Synergy Sdn Bhd and Nexv Manufacturing Sdn Bhd for their respective EV distributorship and manufacturing hub projects .
The financial support comes in the form of a further loan for Nexv of up to RM10 million . Careplus will provide Intro Synergy with a corporate guarantee of up to RM25 million and a loan of up to RM10 million . Approximately RM47 million will be given in total by Careplus to Nexv as financial assistance .
Careplus ’ s balance sheet as of June 30 , 2023 showed total borrowings of RM44.6 million and a cash balance of RM37.27 million .
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MHTC selects Mayo Clinic to provide strategic counsel
THE MALAYSIA Healthcare Travel Council ( MHTC ), an agency established under the purview of Ministry of Health Malaysia , has established a Memorandum of Understanding ( MoU ) with US-based Mayo Clinic , the world ’ s largest integrated , not-for-profit medical group practice .
Under the MoU , MHTC recommends that its member hospitals engage Mayo Clinic Global Consulting to provide strategic advice to advance medical excellence .
The signing ceremony of the MoU was presided over by MHTC Acting Chief Executive Officer Farizal B . Jaafar , and Mayo Clinic Executive Medical Director of the Asia-Pacific region Dr Stacey Rizza . The event was also witnessed by Minister of Health Dr Zaliha Mustafa .
By utilising Mayo Clinic ’ s advice on clinical insights , data utilisation , policy refinement , regulatory alignment , investment strategies , infrastructure development , and service augmentation , the MoU seeks to improve further the quality and accessibility of Malaysia ’ s healthcare offerings .
Under the agreement , MHTC member hospitals may collaborate and seek strategic advice from Mayo Clinic Global Consulting on : 1 . Clinical service offerings , best practices , and medical educational assistance
between MHTC ’ s member hospitals delivered by Mayo Clinic .
2 . Coordinated masterclass sessions on policies and guidelines in medical facilities .
3 . Mayo Clinic mentoring to assist with the development of Centres of Excellence for oncology and cardiology through MHTC ’ s Flagship Medical Tourism Hospital Programme with four shortlisted finalists , namely the National Heart Institute ( IJN ), Kuala Lumpur ; Island Hospital , Penang ; Mahkota Medical Centre , Melaka , and Subang Jaya Medical Centre , Selangor ; and
4 . Continuing medical education , professional and educational consulting services with MHTC ’ s member hospitals , as well as various health talks and seminars . “ Mayo Clinic has built an enviable reputation and best medical practices .
With this memorandum of understanding , MHTC hopes to facilitate discussions between our member hospitals , for clinical and educational assistance to improve and enhance specific gaps and clinical areas identified ,” said Farizal .
Dr Stacey Rizza commented : “ It is a privilege to collaborate with the Malaysia Healthcare Travel Council . Mayo Clinic has a long-standing tradition of sharing medical knowledge and expertise beyond its walls . It offers global healthcare solutions to provide safer , better , and more efficient patient care . “ We look forward to working closely with the Ministry of Health and MHTC ’ s member hospitals in Malaysia to help advance medical excellence and innovation .”
Over the past decade , Malaysia has welcomed over 10 million healthcare tourists from Australia , Bangladesh , China , Hong Kong , India , Indonesia , Japan , Philippines , Singapore , USA and United Kingdom .
HOMESOY donates to Cancer Research Malaysia
HOMESOY recently presented a cheque of RM50,000 to Cancer Research Malaysia ( CRMY ) to support their progress in breast cancer research .
The donation is a part of HOMESOY ’ s ongoing campaigns to increase breast cancer awareness . Research on breast cancer will receive 10 sen for every pack of HOMESOY 3.0 soy milk sold .
Ace Canning Soya Nutrition Unit Head Soo Sek Yow said : “ At Ace Canning Soya Nutrition Unit , we recognise the need to raise public awareness about breast cancer and underscore the critical importance of prevention and early detection . We are dedicated to supporting initiatives that lead to breast cancer awareness .
“ Through our collaboration with CRMY , we also aim to support breast cancer prevention research to establish a link between soya consumption and reduced breast cancer risk in Malaysia .”
For Malaysian women , breast cancer remains the primary cause of cancer death . According to the Malaysian Study on Cancer Survival ( MySCan ) in 2018 , 3,500 deaths from breast cancer are estimated to occur annually .
Soo said : “ Scientific studies suggest an association between soya consumption and a reduced risk of breast cancer . Research has revealed that this association may be attributed to the presence of natural compounds in soya beans , specifically
HOMESOY cheque presentation ceremony in support of cancer research in Malaysia
isoflavones , which belong to a group of phytonutrients .
“ Isoflavones are structurally different and significantly weaker than human oestrogen , but they compete with natural oestrogen , thus limiting oestrogen activity in our body and may help to reduce the risk of breast cancer .”
CRMY Chief Executive Officer Andy Khoo said : “ With the continuous advancement of medical research , survival from cancer has doubled in the last 50 years . Today , at least one in two cancer patients will be cured of the disease .
“ This contribution by HOMESOY can add value to and provide strong support for publicising the significance of and realise impactful outcomes from cancer research . Together , we hope to make a lasting impact in the fight against cancer and save more lives from cancer .”
CRMY Chief Scientific Officer Professor Datin Paduka Dr Teo Soo-Hwang emphasised : “ Breast cancer incidence in Asia is increasing mainly due to changes in reproductive and lifestyle factors . Today , more Asians die of breast cancer than the rest of the world .
“ To date , breast cancer prevention has been difficult because the majority of research is done in Europeans , and little is known about breast cancer prevention in Asians , where the dietary and lifestyle factors are different .”