KUALA LUMPUR (Sept 22): Sedania Innovator Bhd has marked its foray into the Middle East market, starting with Bahrain.
In a statement today, the ACE Market-listed Sedania said its 51% -owned health tech subsidiary Offspring Inc Sdn Bhd is expanding into the Middle East.
Offspring focuses on early childcare solutions, among which offer products such as baby diapers, wet wipes, skincare and home care products that are made of naturally derived, organic, sustainable and biodegradable materials.
Sedania said the Middle East market with countries such as Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE) have an annual birth rate of more than one million newborns with high purchasing power.
It said following the success of opening markets in 17 countries, Offspring marked another milestone with its first venture into the Gulf region.
It added that with this new market, Offspring is now in five regions, including Asia, America, Europe, Africa and the Middle East.
Sedania founder and managing director Datuk Azrin Mohd Noor said the firm is working closely with its counterparts in Bahrain and the strategic plan will be focusing on strengthening brand presence while fulfilling high demand from the new market.
“We received a substantial order from Bahrain the minute our partnership agreement was finalised,” he said.
Azrin added that the Middle East market has huge potential with extensive taste for high-quality products.
“We believe Offspring’s range of products will be well placed here."
He said that Offspring is planning to expand into neighbouring countries such as Kuwait, Oman, Qatar, Saudi Arabia and the UAE with a projection of market share worth RM35 million per month.
“Bahrain is a strategic location to start scaling our presence and capitalise on growth opportunities around the Gulf. Offspring is in an excellent position as we enter an exciting new stage of growth,” he said.
As at 10.20am today, Sedania had risen 5.47% or 3.5 sen to 67.5 sen, valuing it at RM234.35 million.