KUALA LUMPUR (Dec 21): Mah Sing Group Bhd’s shareholders have given the property developer the greenlight to diversify into rubber glove manufacturing through its subsidiary Mah Sing Healthcare Sdn Bhd.
In a virtual extraordinary general meeting (EGM) today, Mah Sing obtained 99.9962% of votes for the diversification plan to mitigate cyclical earnings from its property development division.
Mah Sing said in the statement the first six production lines of the glove manufacturing factory in Kapar, Klang are on track to be operational as planned in the second quarter of 2021 (2Q21), followed by another six lines, expected to be ready in 3Q21. The company expects a total annual capacity of up to 3.68 billion pieces.
KUALA LUMPUR (Dec 21): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Dec 22) may include: Mah Sing Group Bhd, Panasonic Manufacturing Malaysia Bhd, Bintai Kinden Corp Bhd, Kejuruteraan Asastera Bhd, Puncak Niaga Holdings Bhd, Greatech Technology Bhd, RHB Bank Bhd, Yi-Lai Bhd, Supermax Corp Bhd, Karex Bhd, ATA IMS Bhd, Fintec Global Bhd, Aeon Credit Service (M) Bhd, Gamuda Bhd, Versatile Creative Bhd and Deleum Bhd.
Mah Sing Group Bhd’s shareholders have given the property developer the greenlight to diversify into rubber glove manufacturing through its subsidiary Mah Sing Healthcare Sdn Bhd. In a virtual extraordinary general meeting today, Mah Sing obtained 99.9962% of votes for the diversification plan to mitigate cyclical earnings from its property development division.
“As you know, [our manufacturing business comprises] the existing plastics and gloves, [which] we are also exporting, so this is quite a global market, so we are exploring listing in Hong Kong.” Mah Sing executive director Datuk Steven Ng.
KUALA LUMPUR (Dec 16): Mah Sing Group Bhd is considering listing its manufacturing division which includes its new rubber glove business in Hong Kong.
At a briefing today, Mah Sing executive director Datuk Steven Ng said the group is exploring the listing of its manufacturing division within the next five years.
“As you know, [our manufacturing business comprises] the existing plastics and gloves, [which] we are also exporting, so this is quite a global market, so we are exploring listing in Hong Kong,” Ng said.
Mah Sing diversification into glove manufacturing on track For representational purposes only. – AFPPIX
PETALING JAYA: Mah Sing Group Bhd’s diversification into glove manufacturing remains on track as it has made progress on physical works for its manufacturing facility and regulatory approvals for the venture.
The group reiterated that the targeted April 2021 production date is on schedule, as the installation of glove dipping lines framework and structure is under way.
It anticipates six production lines to be completed in second-quarter 2021 (Q2’21) with an additional six production lines to be completed in Q3’21, translating to a maximum capacity of up to 3.68 billion pieces of gloves per annum.