Monday, 21 Dec 2020 02:55 PM MYT
Mah Sing said the first six production lines at it’s first glove manufacturing factory in Kapar, Klang would be operational as planned in the second quarter of 2021. Picture via Facebook/Mah Sing Group
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KUALA LUMPUR, Dec 21 Mah Sing Group Bhd has received 99.996 per cent shareholders’ approval for its proposed diversification into glove manufacturing and trading, and related healthcare products via Mah Sing Healthcare Sdn Bhd.
It said the first six production lines at Mah Sing’s first glove manufacturing factory in Kapar, Klang would be operational as planned in the second quarter of 2021, followed by another six lines expected to be ready in the third quarter, with a total maximum capacity of up to 3.68 billion pieces of gloves per annum.
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.
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Mah Sing Group Bhd will diversify into glove production via Mah Sing Healthcare Sdn Bhd starting next year with its first production lines to be operational at its Klang factory in the second quarter. – EPA pic, December 21, 2020.
MAH Sing Group Bhd has received 99.996% shareholders’ approval for its proposed diversification into glove manufacturing and trading, and related healthcare products via Mah Sing Healthcare Sdn Bhd.
It said the first six production lines at Mah Sing’s inaugural glove manufacturing factory in Kapar, Klang would be operational as planned in the second quarter of 2021. This would followed by another six lines expected to be ready in the third quarter, with a maximum production capacity of up to 3.68 billion pieces of gloves per annum.
KUALA LUMPUR (Dec 17): Mah Sing Group Bhd rose by as much as 4.84% or 4.5 sen to an intra-morning high of 97.5 sen in brisk trade today after it said it was mulling the listing of its manufacturing division, containing its new glove business, in Hong Kong.
At 10.07am, it had pared some gains to trade at 94.5 sen, still 1.5 sen or 1.61% higher, valuing the group at RM2.26 billion. The counter saw 77.06 million shares traded, more than double its 200-day average trading volume of 33.64 million shares.
It was fifth on the list of Bursa Malaysia s most active stocks.
Yesterday, Mah Sing executive director Datuk Steven Ng said the group is exploring the listing of its manufacturing division within the next five years.