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Medical Devices Corporation Sdn. Bhd. is an expert manufacturer of flexible medical solution bags for the pharmaceutical and veterinary industries. Medical bags produced by the company include the Continuous Ambulatory Peritoneal Dialysis Bag, the Continuous Cycler Peritoneal Dialysis Bag as well as Veterinary solution bags. The company’s biggest success occurred when the International Society For Peritoneal Dialysis, identified the Peritoneal bags by Medical Devices, as primary solutions for kidney treatments, replacing the traditional hemodialysis method. Medical Devices is fast becoming the number one manufacturer of Peritoneal Dialysis bags in Asia and aims to cross the US$1 million mark in operating profits in the near future.

Industry : Healthcare

Our Core Product(s) / Solution

Our company is a pioneer manufacturer of flexible medical solution bags for the pharmaceutical and veterinary industries in Malaysia and ASEAN countries. Our life-saving products include Continuous Ambulatory and Cycler Peritoneal Dialysis Bags, which have been indentified as effective replacements for hemodialysis kidney treatments.						

STORIES

Making It Happen

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Successful entrepreneurs aren’t born, they’re made and Khing Hong Loke, founder of Medical Devices, is living proof. As a chartered accountant, he worked with multi-national corporations and public-listed companies for 12 years. Some of his ex-bosses are leaders in their industries and during his time working with them, Khing learnt how these leaders became the powerhouse entrepreneurs that they are. This greatly helped Khing speed through the journey to becoming a successful entrepreneur himself.

 

Back in 2006, Khing was carrying out an in-depth study on the best way to invest his money. After two years of research, he decided to start his own business. Khing became an importing agent using his personal savings. Eventually, he ventured into setting up a manufacturing facility for medical devices. The following year, he obtained a Pioneer Status from the Malaysian Investment Development Authority (MIDA). In June 2010, Khing obtained a commercialisation grant of RM500,000 from the government-funded CRADLE investment programme — an achievement, which he believes is nothing short of miraculous since his was one out of only 5 companies that was successful. A total of 50 companies applied for the grant!

 

Khing hopes to make the product developed by his company — the Continuous Ambulatory Peritoneal Dialysis (CAPD) double bag system —  as affordable as possible for kidney patients. As more and more patients opt for CAPD, Khing hopes they will be able to enjoy a better quality of life. This is one of the key reasons his big dream is to make Medical Devices the leading CAPD manufacturer and provider in Malaysia and ASEAN. In 3 years time, he hopes his company will qualify for application to be listed in the Malaysian stock exchange. Beyond the five-year mark, he sees his company transforming into a full-spectrum pharmaceutical company, which offers CAPD solutions to ASEAN and beyond.

 

Medical Devices’ biggest challenge at the moment is to raise funds to support much-needed expansion. Unfortunately, many financial institutions fail to accurately evaluate the potential of this form of business and since the industry is subjected to a 24-month customer validation period, it is also a challenge for Small and Medium Enterprises to invest on full infrastructure and manufacturing facilities.

 

However these drawbacks haven’t slowed Khing down. The quick-thinking entrepreneur has proven that adversity is the mother of creation by coming up with innovative ways to overcome these challenges. For instance, he is currently applying a scale up approach, which means he has invested in a basic facility that allows him to commercialise on manual operation and obtain customer validation. He has also developed a secondary source of income by manufacturing intravenous solution bags and veterinary bags, with the same RF technology, as a means to support the CAPD project.   

 

When asked what his motto in life is, Khing’s answer is simple: “Make it happen.” He explains that, in life, we explore many opportunities and it is our responsibility to decide where our achievements should be. Thus, we should be proactive in grabbing opportunities to build future achievements. His advice to new entrepreneurs is to have a sound business plan and vision, develop strategies, implement each one effectively and mostly importantly, believe in what you are doing.

 

When he started this business venture, Khing only had a few key employees. They had to overcome many challenges, beginning with the application of various licenses, dealing with construction of manufacturing facilities, commissioning necessary machinery, handling quality control and developing new markets. Now, Khing feels very thankful to his team members for the commitment they’ve shown in making Medical Devices a success. He hopes all his employees will stay with him to witness the ongoing success of this business venture and he has already made plans to reward their loyalty.

 

Khing says Steve Jobs, the founder of Apple Inc., is his business idol. This is because Jobs built a successful corporation and invented lots of high-tech products, which introduced positive, lasting changes to the world. Also, Khing admires the fact that unlike many other entrepreneurs, Steve Jobs designed Apple Inc so it can continue to be a leading corporation even when he is no longer at the helm — something that Khing hopes to achieve one day.

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