HO WAH GENTING BERHAD HOLDS EQUITY IN AMERICAN E-MO BIOTECH HOLDING INC
KUALA LUMPUR, 11 MARCH 2021 – Ho Wah Genting Berhad (“HWGB” or the “Company”) (Bursa Stock Code: 9601) announced that its wholly-owned subsidiary, HWGB Biotech Sdn Bhd’s (“HWGB Biotech”) nominated corporation, HWG Capital Sdn Bhd (“HWG Capital”), has received 15% equity interest in E-MO Biotech Holding Inc., the holding company of E-MO Biology Inc. (“EBI”) instead of EBI. E-MO Biotech Holding Inc. holds 100% equity interest in EBI.
Chief Executive Officer of HWGB, Dato’ Aaron Lim said: “We are excited to have received the 15% equity interest of E-MO Biotech Holding Inc, as we believe this is beneficial for HWGB going forward and we will be able to share in EBI’s continued success being a shareholder. EBI is making great stride in their research and development for the COVID-19 vaccines, as it has already inked a series of agreement to conduct the clinical trials in accordance with the US Food and Drug Administration (“FDA”) rules and regulations. This development will further facilitate the progress of the Phase 4 clinical trial and hopefully the findings will expedite the rolling out of the COVID-19 vaccines”.
“Through this joint venture with EBI and E-MO Biotech Holding Inc., we believe that we are moving in the right direction towards EBI’s intention to list its shares on the NASDAQ Stock Market”.
Ho Wah Genting Berhad (“HWGB” or the “Company”) is principally engaged in Investment Holdings and the provision of Management Services to its subsidiaries. The Company had on 30 June 2020 diversified its existing businesses to include healthcare-related industry which mainly involved in Health Supplement, Biotechnology and Health Technology. In addition, the Company and its subsidiaries (“HWGB Group” or the “Group”) are also engaging in the businesses of Investment Holdings; Manufacturing of Wires and Cables and Moulded Power Supply cord sets and Cable Assemblies for electrical and electronic devices and equipment; Trading of Wires and Cables; and Travel Agent and Tour Related Services.