Tiong Nam shares get a lift from Covid-19 vaccine news

JOHOR Baru-based Tiong Nam Logistics Holdings Bhd, whose shares have been trending downwards over the last three years, saw a sudden surge in interest last week on news that Covid-19 vaccines could be available soon.

Logistics players like Tiong Nam that operate cold-chain facilities are perceived as beneficiaries from the handling, storage and distribution of the vaccines.

According to news reports, distribution of the coronavirus vaccine developed by Pfizer and BioNTech is complicated by the need to store it at ultra-cold temperatures of minus 70°C. The Moderna vaccine, meanwhile, can be kept for up to six months at -20°C, although it is expected to be stable for 30 days at normal refrigerator temperatures of between 2°C and 8°C.

Tiong Nam group founder and managing director Ong Yoong Nyock concedes that it stands a good chance of becoming one of the logistics providers for the Covid-19 vaccine. However, he is quick to play down the hype surrounding the group.