MYEG (0138): MY E.G.SERVICES BHD inks 3-year cooperation with Zhifei to obtain JAKIM certification and to distribute Covid vaccine
KUALA LUMPUR (Dec 7): MY E.G. Services Bhd (MYEG) announced today that it has entered into a cooperation with Anhui Zhifei Longcom Biopharmaceutical Co., Ltd. (Zhifei) to obtain Malaysian Halal certification for the Chinese biopharma company’s COVID-19 vaccine and to exclusively distribute the vaccine in Malaysia for a 3-year period.
In a statement today, MYEG said the two companies have signed a Memorandum of Understanding, agreeing to cooperate in conducting Phase 3 clinical trials of Zhifei’s vaccine in Malaysia and in achieving compliance to Halal status requirements to secure Halal certification from the Department of Islamic Development Malaysia (JAKIM).
MYEG said the commencement of Phase 3 trial will make Zhifei’s vaccine one of the first to undergo this final stage trial in Malaysia under the purview of the Ministry of Health.
Zhifei is a subsidiary of Chongqing Zhifei Biological Products Co., Ltd., which is listed on the Shenzhen Stock Exchange and has been engaged in the biological products industry since 2002, mainly the production of vaccines for human use. Zhifei is presently one of five Chinese companies conducting Phase 3 clinical trials of their COVID-19 vaccines in various parts of the world.
Upon successful completion of the Phase 3 trials, MYEG will be the sole distributor of the vaccine in Malaysia.
Since Nov 1, 2020, MYEG has been appointed by the Malaysian Ministry of Health to develop and operate the MySafeTravel digital health pass system to facilitate inbound travellers’ compliance to mandatory COVID-19 testing and quarantine requirements.
In addition, MYEG also operates a one-stop portal for the COVID-19 screening of workers in the country, which includes a data sharing collaboration with the Department of Labour of Peninsular Malaysia.
MYEG was last traded at RM1.81, valuing it at RM6.61 billion.