Buy 26mil to get headache. Lol

For fun .lol

Close to 95% of Rubberex’s products are exported to over 100 countries, with its main markets being Europe, North America and Asia.

PETALING JAYA: Rubberex Corp (M) Bhd, a small-cap glove maker, attracted interest following a change in shareholding, which saw the entry of Datuk Ong Choo Meng as the single largest shareholder with a 31.33% stake.

For those not in the know, the 41-year businessman is currently the executive director at Hextar Global Bhd – a Main Main-listed company involved in the manufacturing and distribution of agrochemicals.

The company also manufactures and distributes healthcare disposable products such as wet wipes, cotton-based items, sanitary towels and tissue products.

This follows the exit of Med-Bumikar Mara Sdn Bhd (MBM) as Rubberex’s major shareholder, a development that piqued curiosity because it comes at a time the Covid-19 outbreak is driving up demand of glove products.

Rubberex manufactures household and industrial gloves, plus nitrile disposable gloves that are used by practitioners in the medical field.

Med-Bumikar is the private vehicle that counts government agency Majlis Amanah Rakyat (Mara) and several seasoned businessmen as shareholders including Rubberex chairman Datuk Abdul Rahim Abdul Halim.

A filing with Bursa Malaysia on Monday showed that the private company had ceased to be a shareholder of Rubberex after it sold all of its 67.3 million shares or 26.69% interest in the company.

The sale was done in one transaction to Choo Meng, believed to be at a price of 83.5 sen a share in a deal value at about RM56mil.

Stock exchange filings showed that Choo Meng bought Med-Bumikar’s block of shares on Feb 28 and thereafter raised his interest to 31.33% following more acquisitions of the company’s shares in early March.

The stake, which is marginally below the 33% threshold to trigger a mandatory general offer, would give Choo Meng considerable sway over the company’s decision-making.

What is Choo Meng’s plan for the company remains to be seen for now.

Notably, Rubberex is now on a better financial footing after selling its loss-making China manufacturing operations in late 2018. Since then, the Ipoh-based company has been focusing on its local operations and directed its resources into the “correct” segment, namely in the making of nitrile disposable gloves.

Rubberex managing director Khoo Chin Leng, when contacted, declined to comment on the changes at the shareholder level.

Operationally, he said the company is seeing demand exceeding supply by manifold since the outbreak of Covid-19.

“We are running at full capacity, as per Miti’s (Industrial Trade and Industry Ministry) compliance. Our orders run up until the end of the year and we have received many queries from Europe, plus from other parts of the world, ” he told StarBiz.

At present, the company’s plant is able to churn out about one billion pieces of nitrile disposable gloves per year. The company hopes to increase capacity by another 1.5 billion pieces a year when its factory expansion comes on stream by the middle of the year. If business is good, it is looking to expand further in 2021.

Close to 95% of Rubberex’s products are exported to over 100 countries, with its main markets being Europe, North America and Asia.

It has a unit in Spain to service its biggest customers there plus to facilitate the distribution of its gloves around Europe, which contributes a big chunk to total revenue.

Considering that Hextar’s presence is mostly local, excess to a wider market beyond the country is something that could be leveraged on, an analyst said.

As for Med-Bumikar, it appears to be an opportunity to monetise some assets it has been owning for a long time.

“Med-Bumikar has been a promoter of Rubberex since the late 1980s. Some of their shareholders are old timers in the corporate world and may be wanting to monetise their investments, ” said the analyst.

Besides Mara, six families own the remaining shares in Med-Bumikar. The private vehicle also owns a 49.5% stake in MBM RESOURCES BHD, which in turn has interest in second national carmaker Perusahaan Otomobil Kedua Sdn Bhd.

Rubberex shares closed unchanged at 82.5 sen, after hitting an intra-day high of 84.5 sen. A total of 3.56 million shares were transacted. At this level, the stock’s market cap stood at RM208mil.

Through Waras Dinamik Sdn Bhd, Choo Meng together with vice-chairman Datuk Ong Soon Ho, is a substantial holder of Hextar. Waras Dinamik owns an indirect 52.057% interest in Hextar, which has a market cap of RM414mil based on yesterday’s closing price of 50.5 sen.

Soon Ho and Choo Meng were once major shareholders of Denko Industrial CorpBhd but divested the 18.53% stake they collectively held about three years ago.

Currently, Choo Meng is also a non-independent and non-executive director at ACE Market-listed SCH Group Bhd.

The most laggard stock in bursa. Lol

SCH director buys Rubberex shares. Now owns 31%. Will SCH diversify to glove products?

Nexgram only act as middlemen. How much money is tgere to make??

Wrong time to invest in theme park. Theme parks are losing money sep in this pandemic. As for online education, I will put my money in YTL.

100% AGREE! Calvintaneng

Harapan ? No more. harapan changed to PN. Mtronic can also change to PN..

New gomen, new players. Forget edu.

Potential fibernisation candidate

Rm30 million can takeover mid sized mask company and expand business.

Forget about smart city. Metronic should invest in glove or face mask business. Cash cow business in this Global pandemic. Many face mask company are not listed. Just take over them.

Malaysia,s 3rd national car prototype ready... Any takers?

If they can close the deal with Huawei cloud, better still

If the govt bring back GST at 4%. And abolish the silly SST of 6% , the rakyat will feel the immediate impact to their cost of living. More will support this govt. less burden to rakyat and govt will be able to increase their revenue slightly. That is the correct way to go.

New education minister sounds like reasonable guy. Why dont edu approach him and sell the idea of "school from home".? Using the Google platform. Now everyone practises work from home. Its a fantastic opportunity for edu to to this now with the virus getting pandemic.

What about towkay LKL? In this new govt so much to look forward to...5G, smart car, etc. BOD fighting is not good for anyone.

With the virus, schools need not shut. Log in to smart learning from home. This is the way smart education need to be emphasised.

Smart city?. Smart car?

Edu must do presentation to new Education minister. Then invite him for opening ceremony next week

If PM is also Education minister , will EDu limit up? It will be good as he has lot of experience before during BN days.

Mtronic to do flying car??

Faizal. What does all these mean?

Ya. Boss takde lagi, undur la

Thlim... Yes . Hostile takeover is possible. Buy out all the warrants and take out mother at 2s. AOF now only control 500m shares assume not sold in market.

All political appointees should resign from the BOD for the sake of the company.

PH crony co Opcom will be definitely out. Metronic stands a good chance to tender..

All previous PH projects willbe relooked again...fibernisation project . New companies will be given a chance.

Another 2.4 billion shares to go..

EDU need strong theme park partner to survive. Looking at STEM center at Starling, poor thing. Maybe LEOLAND shd be thie partner. Then BOOM!

STEM outlet opened in Starling last month. Very quiet. No kids ..

Diam2 settlement.?

Monday 3Feb case hearing.

Last QR rm15m before tax. So vs IHH, it may be small but 15s is too cheap. Lots of upside

PETALING JAYA: Former poultry producer, Sinmah Capital Bhd (SMCap), has earmarked RM100 million to build a hospital in Nilai as it makes its maiden venture into the healthcare sector.

The company, via 70%-owned unit Sinmah Amegajaya Healthcare Sdn Bhd (SAH), inked a deal to acquire a piece of property in Nilai for RM27 million, and plans to redevelop it into Malaysia’s first full-service ‘Integrated Public-Private University Hospital’ (IPPUH).

Speaking to reporters after the signing ceremony, SMCap's managing director, Datuk Fong Kok Yong, said construction would be completed in 28 months from March, and that the money would be raised via internally-generated funds and bank borrowings.

The company is also looking at a sukuk issuance of a couple of tranches to raise RM500 million to fund the development of a number of hospitals, Fong said, with the first tranche of RM200 million to be issued this year.

Even so, raising such amounts could prove daunting for SMCap, formerly known as Farm’s Best Bhd, given its soft financial and share price performances.

The loss-making company closed one sen, or 7.14%, lower to 13 sen yesterday, valuing it at RM7.94 million. Over the past year, the counter has lost a massive 66.1% of its worth.

SMCap divested its poultry business in 2017, after which it teamed up with Amegajaya Medical Planning Group (AMP) to set up SAH, the developer of the 200-bed IPPUH in Nilai.

“The Nilai hospital will chart many firsts including offering multi-tier services that meet the needs of different market segments and the setting up of the country’s first integrated Centre of Excellence for Autism & Geriatric Care.

“Our first IPPUH will provide a blueprint for SMCap’s future investments in the healthcare sector,” Fong said.

Universiti Teknologi MARA would be the clinical partner in operating the Nilai IPPUH.

The IPPUH will provide a platform for the government to introduce healthcare insurance which is crucial for the Bottom 40 group, he said, adding that the company is also collaborating with some local insurance companies to help shape efficient healthcare economics.

He expects the hospital to break even in four to five years after it is operational, but said it would also depend on public acceptance.

He also said the company aims to build a minimum of 20 to 25 IPPUHs over the next decade in a number of states including Negeri Sembilan, Malacca, Selangor, Perak and Kedah.

Fong said SMCap is looking to develop a hospital in Cheng, Malacca within the next few months, and establish a nursing school next to the hospital. It has allocated RM200 million in capital expenditure for this development. Although some of the funds would be internally generated, it would also leverage bank borrowings and islamic debt papers.

PETALING JAYA: Former poultry producer, Sinmah Capital Bhd (SMCap), has earmarked RM100 million to build a hospital in Nilai as it makes its maiden venture into the healthcare sector.

The company, via 70%-owned unit Sinmah Amegajaya Healthcare Sdn Bhd (SAH), inked a deal to acquire a piece of property in Nilai for RM27 million, and plans to redevelop it into Malaysia’s first full-service ‘Integrated Public-Private University Hospital’ (IPPUH).

Speaking to reporters after the signing ceremony, SMCap's managing director, Datuk Fong Kok Yong, said construction would be completed in 28 months from March, and that the money would be raised via internally-generated funds and bank borrowings.

Sinmah cap biz is similar to LKL health business. Nobody notice it and the giant will awaken anytime.

China to order hospital beds from Malaysia?

Masks out of stock and that is only domestic. The world needs more gloves. Glove makers big or small will be in demand

This year no jam on PLUS highways, thanks to WCE. Toll may be coming..

The next PLUS. Khazanah and EPF could be eyeing a stake.

Buy only glove companies, healthcare sectors only...everything else sell

Hidden gem...provides healthcare services and hospital beds. Tomorrow everyone will be chasing!!

Dataprep will get 5G fibernization project soon??

Tan Sri LKY is a businessman with proven track record. He will take Medtronic to greater heights. It will not be 4.5sen anymore..

Towkay kasi new year present to Medtronic. Feb 3 high court case. Jangan main2 with towkay.

Total RCPS conversion is 3 BILLION shares. Now only beginning... Convert sampai mati...

SELL!! RUNNN!! Bad QR coming??

The whole world uses STEM . What’s the big deal?