KUALA LUMPUR (Feb 2): Bintai Kinden Corp Bhd has signed an agreement to supply its cold chain boxes for the storage and distribution of Covid-19 vaccines.

In a bourse filing, the group said its 50.05%-owned subsidiary Bintai Healthcare Sdn Bhd (BHSB) had signed a memorandum of understanding (MoU) with SRT-EON Security Services Sdn Bhd for the latter to procure the Greenie Cold Chain Box from BHSB for the distribution of Covid-19 vaccines.

BHSB is the exclusive distributor in Malaysia, Saudi Arabia and the Philippines for the cold chain box and the non-exclusive distributor for other Southeast Asia countries. The move is part of SRT-EON’s expansion in the distribution of secured vaccines.

The MoU is expected to contribute positively towards the future earnings of Bintai Kinden should a more concrete agreement come from it.

“Having considered all the relevant aspects including the rationale and effects of the MoU, the board of directors of BKCB (Bintai Kinden) is of the opinion that the MoU is in the best interests of BKCB Group,” it said.

In a separate statement, Bintai Kinden managing director Ong Choon Lui said the Greenie Cold Chain Box will be supplied to SRT-EON in the distribution and delivery of vaccines to ensure the vaccines are secure and protected during distribution.

He said the medical freezer box will enable the temperature in the box to be kept at optimal level required to ensure safe delivery of vaccines.

“The Greenie Cold Chain Box is to be used in logistics of medical goods. The product is designed for the exclusive use in transporting and storing medical products at very low temperatures. It keeps the inbox temperature at negative 70 degrees Celsius for up to 120 hours,” he said.

Shares in Bintai Kinden were 5.13% or three sen higher at 61.5 sen at noon market break, giving it a market value of RM234.86 million. It saw 26.88 million shares done.