KUALA LUMPUR: HLT Global Bhd has has proposed to acquire the remaining 45% stake in glove making unit HL Rubber Industries Sdn Bhd (HLRI) for RM90mil. The company told Bursa Malaysia today that it will issue 90 million new shares at RM1 each to pay for the acquisition. For the 10-month ended Oct 31, 2020, HLRI recorded an unaudited profit after tax of RM32.58mil the back of a revenue of RM125.32mil. "The Group is expected to benefit from the Proposed Acquisition in the future from both financial and operational perspectives," it said. As it is, HLRI is a 55% subsidiary of HLT Global.