KUALA LUMPUR (Dec 15): 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 developed by US-based Vaxart Inc in Malaysia.
In a filing with Bursa Malaysia, Widad said it had entered into a memorandum of collaboration (MoC) with Rinani, which is involved in the business of investment advisory services and other management consultancy activities.
Widad said Rinani on Nov 29 was appointed by Hong Kong-based Majoritas Global Ltd 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 experience key personnel to mitigate the risks in due course,” it said.
Widad said the MoC shall be effective for a period of one year upon the execution by both parties hereto and may be mutually extended by both parties.