Investors with healthcare industry backgrounds are putting up money through a share placement to support the growth of the new healthcare and e-commerce business of Metal Component Engineering (MCE).
They include Dr Lim Cheok Peng, the well-regarded former CEO of Parkway Holdings and former Managing Director of IHH Healthcare Berhad.
His investment vehicle, Kessler Investment Holding, is subscribing for 8,200,000 shares for $405,9000, or 4.95 cents a share.
Catalist-listed Metal Component Engineering, long a metal stamping business, started diversifying into healthcare this year. (See: Will this company get new lease of life? In healthcare/e-pharmacy venture?)
• Recently, MCE (through its wholly-owned subsidiary, 5Digital Pte Ltd) entered into a conditional sale and purchase agreement relating to an investment in PT Gaido Digital Medika on 14 October 2021, to create specific opportunities in the West Java region where its JV partner, the Gaido group is well entrenched.
This will accelerate the Company's smart hospital and ePharmacy initiatives into the Indonesian healthcare market.
• On 29 October 2021, the Company (through 5Digital Pte Ltd) also entered into a share subscription agreement relating to an investment in MedTel Healthcare Private Limited to provide a valued addition to MCE’s healthcare plans.
For more info, see company announcement here.