KUALA LUMPUR (Jan 7): Circuit board maker PNE PCB Bhd is venturing into the rubber gloves manufacturing and distribution space.
PNE said its wholly-owned subsidiary, PNE Glove Sdn Bhd, plans to set up five glove production lines with each making approximately 300 million pieces per year.
“On an annual basis, it expects to contribute around 1.5 billion pieces of gloves to narrow global demand-supply gap,” PNE said in a statement today.
PNE Glove has also entered into a lease agreement with GP Autobat Sdn Bhd to lease certain industrial buildings located in Klang, Selangor to house its future glove production operations. The group’s decision to diversify its business into the production of gloves comes amidst the swell in demand as a consequence of the Covid-19 pandemic, it said.
RHB Investment Bank in a recent report said it expects the average selling price uptrend to sustain, due to the glove deficit of 7.4 billion pieces.
GLOVEMAKERS are set to continue recording stronger earnings in 2021, on the back of higher average selling prices, increase in production capacity and better economies of scale.
An analyst with a local bank-backed brokerage said demand for rubber gloves will continue to be strong next year, mainly due to the impact of the Covid-19 pandemic and distribution of the vaccine across the globe.
“The surge in infections across the globe has ramped up demand for rubber gloves.
Malaysian rubber gloves association warns against scams Meditech Gloves
Petaling Jaya, Malaysia – Global rubber gloves buyers have been warned against ‘scammers and conmen’ with claims of immediate deliveries or shipments of gloves.
With current order lead time of at least six to eight weeks, “any company that claims to have ready stock for new buyers is possibly a scammer,” said president of the Malaysian Rubber Glove Manufacturers Association (MARGMA) Dr Supramaniam Shanmugam in a 22 Dec statement.
According to Shanmugam, MARGMA has issued several warnings about scammers and con artists intermittently since June 2020 and has engage with relevant authorities to address the issue.
Safety First Healthcare CEO Shaun G Morgan Announces Malaysia/Indonesia and Vietnam Nitrile Glove Joint Venture albuquerqueexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albuquerqueexpress.com Daily Mail and Mail on Sunday newspapers.
ES Ceramics Technology Bhd, which makes ceramic moulds for the rubber glove industry, appears to be in unknown hands given the company’s opaque shareholding.
In early November, Datuk Kamal Y P Tan disposed of two blocks of shares in ES Ceramics. On Nov 4, he hived off 48.25 million shares, or 10.49% of the company, followed by another 47.18 million shares, or 10.25%, the next day.
A month before that, Tan held 105.26 million shares, or 23.39% of ES Ceramics, following a bonus issue of 236.56 million shares with free warrants on the basis of one bonus share and warrant for every existing share held.
Although a month has passed since he sold the two blocks of shares, there has been no indication as to who acquired them, or if the new shareholders elected to break up the block of 20-plus per cent into blocks smaller than 5% to avoid disclosure.