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Luster down despite RM1b new contract

Luster down despite RM1b new contract
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Kuala Lumpur , United States , Glovmaster Sdn Bhd , Glovconcept Sdn Bhd , American Nitrile , Luster Industries Bhd , Bursa Malaysia , குவாலா லம்பூர் , ஒன்றுபட்டது மாநிலங்களில் , காந்தி தொழில்கள் ப்ட் ,

Luster inks glove line EPCC contract in US for at least US$2m per year


KUALA LUMPUR (April 12): Luster Industries Bhd said it has inked an agreement to provide engineering, procurement, construction and commissioning (EPCC) for 12 rubber glove production lines in the US.
The agreement was inked between American Nitrile LLC with Glovconcept Sdn Bhd, a 60%-owned unit of Glovmaster Sdn Bhd, which is in turn 56%-owned by Luster, the company said today.
Glovconcept will undertake the designing, building and delivery of a glove manufacturing factory on a turnkey basis, with glove output of not less than 38,000 units per line per hour, Luster said.
“The estimated cost to be borne by American Nitrile in building the glove production plant is around US$3.6 million or RM14.9 million per line,” it added. ....

Kuala Lumpur , United States , Grove City , Glovmaster Sdn Bhd , Glovconcept Sdn Bhd , Liang Wooi Gee , American Nitrile , Luster Industries Bhd , Liang Wooi , குவாலா லம்பூர் , ஒன்றுபட்டது மாநிலங்களில் , தோப்பு நகரம் , காந்தி தொழில்கள் ப்ட் ,

KLCI closes higher on gains in glove counters, better corporate earnings hopes


The benchmark index finished 0.11% or 1.81 points hgher at 1,602.40.
Areca Capital chief executive officer (CEO) Danny Wong said many investors are looking forward to a recovery in corporate earnings.
“There are expectations for the second quarter through the fourth quarter of the year that there will be a year-on-year (y-o-y) increase in earnings,” he said.
Glove stocks including Top Glove Corp Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd, Comfort Gloves Bhd and Kossan Rubber Industries Bhd were among the day s top gainers.
The day s top active stocks included LKL International Bhd, Luster Industries Bhd and AT Systematization Bhd.
Top losers included consumer and financial services stocks Nestle (Malaysia) Bhd and Fraser & Neave Holdings Bhd (F&N), as well as Hong Leong Financial Group Bhd (HLFG). ....

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