KUALA LUMPUR – Widad Group Bhd is collaborating with Rinani Dynamic Sdn Bhd in the distribution, marketing and selling of the Covid-19 vaccine known as Vxa-Cov2-1 and other products develop by US-based Vaxart Inc in Malaysia.
In a filing with Bursa Malaysia, Widad said it has entered into a memorandum of collaboration (MoC) with Rinani, which is involved in investment advisory services and other management consultancy activities.
Widad said Rinani had, on November 29, been appointed by Hong Kong-based Majoritas Global Limited as its exclusive partner in Malaysia to present, discuss and negotiate with the relevant authorities and parties relating to terms and conditions for testing, evaluating, placing on the market, contracting, financing and purchasing of the vaccine, and other products in Malaysia.
“Even though Widad may not have the prior experience to undertake the distribution of the vaccine, Widad will hire additional experienced key personnel to mitigate the risks in due course,” it said.
Widad said the MoC is effective for a period of one year upon the execution by both parties hereto and may be mutually extended by both parties. – Bernama, December 15, 2020
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