CDW HOLDING ANNOUNCES DIVERSIFICATION EFFORTS, SUSTAINABILITY DIRECTION UPDATES

KUALA LUMPUR, May 24 (Bernama) -- CDW Holding Limited (CDW, the Company, or collectively with its subsidiaries, the Group) shared an update on its diversification efforts and announced a new strategic direction for the Group, centred around the United Nations’ Sustainable Development Goals (UN SDGs).

According to a statement, the Group is a leading manufacturer of LCD Backlight Units for applications in various industries such as computer, automotive, and gaming and has recently also built up a promising OEM business in producing electronic payments systems and digital content editing devices.

As the Group operates in a challenging industry with intense price competition and shortening product life cycles, it embarked on a diversification strategy in 2016 to identify other potential areas of growth and made its foray into Bio & life sciences and other businesses.

Among others, the Group holds a patent for a synthetic antibody library through its subsidiary GSP Enterprise Inc (GSP), which was established by the late Honorary Professor Shimizu Nobuyoshi of Keio University and acquired by the Company in 2018.

The Group had previously announced key milestones in the development of novel antibody drugs aimed at treating various cancers. The most promising candidate thus far, the anti-Cripto-1 antibody, was patented in September 2020 and has been shown to be effective at inhibiting the self-proliferation of cancer stem cells.

Apart from aiming to treat serious illnesses through fundamental research, the Group has also made strides in addressing the growing consumer demand for beauty and wellness.

In September 2021, the Group announced the launch of its own skincare brand YOSHIMI JAPAN following five years of research and development into the anti-aging pterostilbene glycoside compound, which was shown to have greater efficacy at addressing the anti-wrinkle segment of topical beauty products.

In July 2021, the Group secured the rights to distribute CUBOX portable lithium-ion battery packs for use in industrial, household and medical settings in Japan.

The Group has also obtained the global distributorship rights to Japanese alkaline water generator brand, Nihon Trim Co Ltd (TRIM). The deal will allow the Group to capture new opportunities as the demand for alkaline water generators grows worldwide.

CDW has also secured the exclusive rights to market in Japan and distribute electric boat propulsion systems that are developed by Electrine of Korea (formerly known as LGM Co Limited, with which the Company has a 2.3 per cent stake), a leading Korean electric boat building company, with currently discussions for the rights to Hong Kong and Singapore ongoing.

In order to focus its diversification efforts, the Group has decided to adopt a strategic framework that is centred around the UN SDGs, which consists of 17 goals and 169 targets. Adopted at the UN Summit in September 2015, the goals were set by 193 UN member countries to be achieved in 15 years from 2016 to 2030.

With investments in ESG trending, and CDW believes that its new strategic direction is the right step forward to meet that growing demand from institutional investors.

More details at www.cdw-holding.com.hk.

-- BERNAMA