HEALTHCARE | Staff Reporter, Singapore

A 5,000% surge makes Medtecs the top stock in Singapore

The firm is also amongst the best in the global health-care supply sector for 2020.

Shares of Medtecs International Corp., a maker of medical apparel, traded for just a few Singapore cents at the start of the year before the pandemic roiled financial markets. Now they’re up almost 5,000%.

Supernormal demand for essential reusable hospital garb, disposable personal protective equipment and workwear helped the Taipei-headquartered company’s net income grow about 100 times in the six months ended June 30 from the previous year. The stock is the top performer for Singapore and amongst the best in the global health-care supply sector for 2020.

“Profit for the second half will be better than the first half with current orders in hand,” Medtecs Chief Executive Officer William Yang said, adding that his firm is helping the Philippines build protective equipment inventory and is in talks to also supply institutional agencies in the US and Europe.

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