3 September 2025, Johannesburg, South Africa
An agreement of working relationship has been entered between Malaysia Star Medik Group, a diversified medical device manufacturer, distributor and exporter with South African ICRD Group Holdings (PTY) Ltd, with key objective to promote cooperation in the field of medical device manufacturing in South Africa. Star Medik Group was represented by its Group Executive Chairman Datuk Hj Tajuddin Abdul Latif and Group Managing Director Johari Abu Kasim and ICRD by Group Mr. Lucky Litelu, the Founder and Executive Chairman.
Both parties agreed to collaborate in the formulation of establishing a satellite manufacturing site producing medical disposable in South Africa with technology and technical know-how from Star Medik and financial investment from ICRD GROUP Holding (PTY)Ltd. The estimated value of the project initiation including factory site development, equipment and machineries and accessories is in the circa USD5.0Million. The facility is expected to generate commercialization opportunities in the field of medical device manufacturing in South Africa and neighboring countries, with an estimated market value of approximately USD20 million in 5 years upon completion. ICRD and Star Medik will continue the collaboration and emulate the same Satellite Factory platform to penetrate into other neighboring countries in African Continent. The signing of full agreement is expected to be done in Kuala Lumpur in October 2025. Today’s signing ceremony took place at Sandton Sun & Towers South Africa with the support of @MATRADE, @SME BANK and the local regulatory compliance partner Regulatory for Africa (RFA) AFRICA (Pty) Ltd.
