Stay updated with breaking news from Supermax Corp. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
KUALA LUMPUR, Oct 21 (Bernama) -- Supermax Corporation Bhd’s representatives in the United States are currently in touch in the US Customs and Border Protection (CBP) to obtain more clarity and information on the Withhold Release Order (WRO) issued and the required measures going forward.
Supermax Corp Bhd’s share-trade volume spiked to its highest in over five months at 78.34 million on Thursday (Oct 21) from 11.17 million a day earlier while the rubber glove manufacturer’s stock price plunged more than 11% after the US Customs and Border Protection (CBP) issued a withhold release order (WRO) on gloves produced by Supermax Corp’s wholly-owned subsidiaries Maxter Glove Manufacturing Sdn Bhd, Maxwell Glove Manufacturing Bhd and Supermax Glove Manufacturing due to forced labour allegations.
MORNING BRIEF | Key news you should know about.
Industrial Gloves Market Projected to Reach $14.8 Billion by 2027 | In-Depth Analysis with Top Key Players
declined by 1.56% to 3.27%. Rakuten Trade Sdn Bhd head of equity sales Vincent Lau said investors are taking the view that global glove production capacities ramping up, including in China, would mean supply would be greater than the increase in demand in the coming years. “Glove ASPs are trending lower. With Covid-19 vaccinations ramping up and some countries saying they will learn to live with the virus, the super profits of glove makers are seen as unlikely to continue,” Lau told StarBiz. Rakuten Trade Sdn Bhd head of equity sales Vincent Lau said investors are taking the view that gl...