Arah Tenang to explore Middle East market
KUALA LUMPUR: Arah Tenang Sdn Bhd (ATSB), a medical device distribution company, is planning to explore the Middle East market and to diversify its business by venturing into manufacturing healthcare products.
Chief executive officer Noorirwandy Abdul Karim said the company is allocating more than RM1 million up to 2021 to invest in strengthening the company’s position in the healthcare market.
In a statement yesterday, he said ATSB, which specialises in orthopaedics implant products, plans to collaborate with manufacturers in the Middle East and Asia to supply up-to-date, innovative and competitive products.
ATSB is a locally authorised representative and distributor for medical device manufacturers from the United States, United Kingdom, France and Europe. The company has also partnered with other manufacturers in Singapore, Indonesia, Brunei,
Japan, Qatar and China.
“We plan to work with government agencies and local retailers and we expect to execute our plan (to explore the Middle East market) by the second quarter of 2020,” he added.
Noorirwandy was recently crowned as one of the 40 winners of ‘Malaysia Top Achievers 2019 for the company’s successful and outstanding performance in the orthopaedics industry. — Bernama
THE Malaysian rubber market ended mixed yesterday amid weaker regional rubber futures markets and declining oil prices, said a dealer.
“The market took cues from the increase in Malaysia’s natural rubber production in November 2019 as reported by the Department of Statistics,” he said.
Malaysia’s natural rubber production increased by 1.6 per cent in November 2019 to 53,019 tonnes, compared to the same month in the previous year, while exports of local natural rubber decreased by 6.2 per cent to 47,888 tonnes against 50,600 tonnes in October 2019.
At 12 pm, the Malaysian Rubber Board’s (MRB) reference physical price for tyre-grade SMR 20 lost 1.5 sen to 606 sen per kg and latex-in-bulk slipped half-asen to 467.5 sen per kg.
At 5 pm, the MRB’s reference physical price for SMR 20 added 3.5 sen to 612 sen per kg and latex-in-bulk rose 2.5 sen to 471 sen per kg.
SHORT-TERM interbank rates ended stable Wednesday on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.
The surplus in the conventional system declined slightly to RM24.60 billion from RM24.69 billion yesterday morning, while in the Islamic system, it fell to RM10.80 billion from RM16.25 billion.
Earlier yesterday, the central bank conducted two money market tenders and an Islamic range maturity auction Qard tender.
BNM has also revised the conventional overnight tender from RM22.70 billion to RM24.10 billion.
At 4 pm, BNM conducted a RM24.10 billion conventional money market tender and a RM10.80 billion Murabahah money market tender, both for one- day money.
THE Kuala Lumpur Tin Market (KLTM) ended US$70 higher at US$17,350 per tonne yesterday on strong demand for the commodity amid optimism among traders.
A dealer said the increase in tin price was also in line with the London Metal Exchange (LME), which closed US$35 higher at US$17,435 per tonne.
“Traders were rampant on buys, as it is also being fueled by LME, a benchmark for tin,” he told Bernama yesterday.
“On the local front, bids stood at 20 tonnes and offers at 20 tonnes, while total turnover was marginally lower at 20 tonnes from 24 tonnes on Tuesday,” he added.