Lim Tai Toon, lead independent director of Medtecs International Corporation, now holds a deemed stake of 20,000 shares in the company after his wife, Wong Lai Kwan, bought 10,000 shares at $1.35 each from the open market on Sept 3. This follows an earlier purchase by Wong on Aug 13 for 10,000 shares at $1.50 each.

Medtecs is one of the better performing stocks on the Singapore Exchange thus far this year. The company, which sells consumables such as personal protective equipment (PPE) used by the healthcare industry, is enjoying a surge in business as a direct result of the Covid-19 pandemic.

On Aug 11, Medtecs reported that for the first half ended June 30, revenue surged nearly fivefold to US$162.6 million ($222 million) from a year ago while earnings surged 100 times to US$38.9 million as it enjoyed not just higher sales but also higher margins and foreign exchange gains.

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