On Aug 20, Medtecs International $ Medtecs Intl: 546 +0.91% Corporation deputy chairman, executive director and chief executive officer William Yang Weiyuan acquired 500,000 shares of the Catalist-listed company for a consideration of S$286,789 at an average price of 57.4 cents per share.

 

This took his deemed interest in the supplier and distributor of personal protective equipment (PPE) and provider of logistics services to healthcare institutions, from 0.46 per cent to 0.55 per cent.

 

Mr Yang' s preceding acquisitions included 500,000 shares at 84.1 cents per share on June 24 500,000 shares at 95.8 cents per share on May 12, and 500,000 shares at S$1.05 per share on Dec 22, 2020.

 

Mr Yang has been the general manager of wholly owned subsidiaries, Medtecs (Taiwan) Corporation since July 1, 2010 and Hangzhou Jincheng Medical Supplies and Manufacture since 2008.

 

On Aug 13, Medtecs reported that its H1FY21 (ended June 30) group revenue decreased by 47.5 per cent to US$85.3 million, from US$162.6 million in H1FY20.

 

This was due to reduced PPE demand in H1FY21 from customers that had already stocked up in FY20, resulting in more stable market prices and supply chains.

 

Mr Yang noted that the results came on the back of a record-breaking year in terms of revenue and profitability in FY20 and that the company will continue to work with partners which possess health-related expertise and supply chain resilience to expand its global sales channels and sourcing ability.

 

He added that the company would also push forward with its strategy to build awareness of its brand both online and offline, and seek stockpiling partnership opportunities in key regions around the world.