USP Group completes production trial run of new hand sanitiser, to be given to needy
SII Scientific, a subsidiary of watch-listed USP Group, has concluded a successful production trial of its new hand sanitiser.
USP said in a bourse filing on Tuesday that the hand sanitiser contains 70 per cent ethanol.
In light of the current Covid-19 spread, the company will distribute the product to the needy and to old folks' homes in Singapore as part of its corporate social responsibility initiative.
USP said that production of the hand sanitiser, coupled with sales of its IQAir purifier, will help it better penetrate the healthcare sector in the region. The group is the sole distributor for the IQAir purifier in Singapore and Indonesia.
Commercial production of the hand sanitiser, branded as "Impact", is projected to start by the second quarter of 2021.
The launch of the hand sanitiser is not expected to have any material impact on USP's net tangible assets and earnings per share for the financial year ending March 31, 2021.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
The counter last traded on March 17 at 7.8 Singapore cents.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
K-Pop agency Hybe’s internal strife wipes out 1.2 trillion won
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
Hong Kong bourse regains favour on hopes of a market revival
Chinese sellers go to TikTok school to reach buyers abroad
Gold prices set for weekly decline ahead of US inflation data