The Board of Directors of Medtecs International Corporation Limited and together with its subsidiaries announced that the Company has on 7 December 2020 entered into a partnership and cooperation agreement with Mytrex Health Technologies, Inc. which is a supplier to the Group of melt-blown non-woven material used as a filter in face marks, for the purpose of exploring opportunities to co-locate production plants in Taiwan, the Philippines, the United States and other regions to facilitate vertical integration of Personal Protective Equipment production operations to ensure product quality and to minimise supply chain disruption. The Company and Mytrex plan to leverage each other's strengths and capabilities in the Personal Protective Equipment (PPE) supply chain to explore strategic partnerships to expand their presence in the international market. Pursuant to the terms of the Agreement, both parties will explore collaboration opportunities in Taiwan, the Philippines, the United States and other regions, which include co-locating their plants to facilitate vertical integration of PPE production operations to ensure product quality and to minimise supply chain disruption.

The Agreement is in line with various governments' policies of localising supply chains to facilitate the indigenous production of PPE to swiftly cater to demand in their respective markets. In furtherance of the Agreement, Mytrex will be co-locating its production lines in the Company's production facilities in the Philippines. Mytrex and the Company have also entered into a supply agreement for the supply of Mytrex's face mask filters to the Group for 12 months.