6/28/2016
Seacera acquires 51% Proligen stake to enter medical industry | The Malaysian Reserve
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Home » Seacera acquires 51% Proligen stake to enter medical industry
Seacera Acquires 51% Proligen Stake To
Enter Medical Industry
Market Data
Jeremy Tan
Wednesday, January 13, 2016
Foreign Exchange
(From left) Zulkarnin, Health Ministry representative Imran Idris, Sjoekoer and Proligen chairman Zakaria Abdul Rashid at the
signing ceremony in Kuala Lumpur yesterday. (Pic by Ismail Che Rus/TMR)
Seacera Group Bhd’s agreement for a 51% stake with Proligen Sdn Bhd would allow the firm to leverage on
Proligen’s exclusive rights from Frenchbased Suisse Med Technologies SA to produce and market its
products in the Asean region.
The agreement, which entails a subscription of 520,000 ordinary shares of RM1 each for RM2.96 million,
marks the tiles manufacturing, property and construction player’s maiden entry into the medical products
http://themalaysianreserve.com/new/story/seacera­acquires­51­proligen­stake­enter­medical­industry
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6/28/2016
Seacera acquires 51% Proligen stake to enter medical industry | The Malaysian Reserve
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Following the acquisition, which the group stated will be financed via internally sourced funds, Proligen will
be a 51%­owned arm of Seacera. Seacera group MD Zulkarnin Ariffin said the two parties are also setting
up a polysulfone dialyser manufacturing plant in Malacca which could produce two million pieces of dialyser
annually.
When completed, the plant cost ing US$51 million (RM224.4 million) will be the first of its kind in Malaysia,
Zulkarnin said.
“The signing today enables the group to embark on its inorganic growth strategy by capitalising on
Proligen’s expertise and venture into the medical device industry,” he told reporters after the signing
ceremony in Kuala Lumpur yesterday.
He said the dialyser facility project is expected to generate a cumulative profit of at least RM75 million within
three years of its production commencement.
“The manufacturing plant in Malacca is expected to be operational in 2017. We anticipate an annual
turnover of RM120 million upon the plant reaching full capacity by the end of 2018,” he said.
Seacera intends to provide international grade filters at affordable prices for patients in the country as well
as develop itself into a leader in the renal medical industry in Malaysia, Zulkarnin said.
“Additionally, Proligen currently has off­take inquiries in excess of 3.8 million pieces for overseas markets.
They intend to market its finished products to China, Indonesia, and the Middle East,” he said.
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Meanwhile, Proligen MD Andrew Suriady Sjoekoer said the company will continue to focus on the
development of products and production technologies for haemodialysis therapy.
“The market of dialysers is growing in Malaysia as the number of haemodialysis patients increases and
facilities for haemodialysis therapy becomes increasingly available,” he said.
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