KUALA LUMPUR, 28th OCTOBER 2020 – AT Systematization Berhad (“ATS” or “Group”) has decided to abort its proposed acquisition of Pearl Glove (Malaysia) Sdn Bhd (PGSB), in order to focus and expedite the setup of its glove manufacturing plant in Perak and aimed to deliver its first batch of medical-grade nitrile gloves by the end of this year.
During the course of due diligence, it was revealed that certain matters discovered were not in line with the representation made by the Vendors of PGSB. As these are not in line with the Group’s expectation, it was decided to terminate the proposed acquisition and move forward to focus on its own gloves production.
Instead of adopting multiple growth strategies such as the proposed acquisition of PGSB, ATS would be laser-focus on completing its glove manufacturing factory. The focus is expected to enable its glove plants to be setup in just five months as compared to the average of one-year taken for glove manufacturing facility to be completed via proposed acquisition of PGSB.

NOTHiNG TO WORRY AS ALREADY FACTORED in!!!!!!

News from 28th October ! Main reasons are to focus on their own glove production ! AFFIN HWANG please rear

How does a company like this get to stage IV?

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