ABBA: The winner takes it all...

US bought all of the world's supply of covid19 drug Remdesivir.

Will US also buy up the World's no1 TOP GLOVE manufacturer?

RTO in the offering?

Cheh. This losing money company. Is it worth fighting for? ? Lol..

Or are they diversifying into the Digital/ e commerce sector? Fibernisation project?

Eden big enuf to buy Latexx and join the Glove booming industry. Not the kacang putih MQTECH, ...

Hope new Petronas boss will look into the O& G consolidation of OSVs. The ICON will be biggest beneficiary sine its the largest OSV in the country!!

If oil is US 190, then icon will be rm 1!!

Maybe EDEN can go into glove business? Latexx and WRP Asia takeovr targets.

Ting ting ting....the fight begins tomorrow... Lol

Are they too talking to S5 for RTO like ConnectCounty??
Buzzword now is S5. Everybody wants to get involved.

Dont be fooled. These companies use unlisted glove Companies names to push the stocks. Beware. Bursa last week already give warning.

Bursa & sc is watching.. Read the edge and starbiz today..

2 court hearings. One on 9 July and another on 16 August. Just like world cup final, only one side will win...which side are you supporting? Before court hearing, better fight in the open market first...lol

45% of shareholders fighting with one 30% shareholder. It will go on forever....

I must admit Metronic cash pile is RM 56.48M, higher than its market cap of RM 49.83.as revealed by EDge Weekly today. Very impressive and based on its low share price, it makes a delicious target of takeover. But wait.. Its warrant price is only 1s with a low conversion price of 8s. Outstanding warrants is only 410M so if any hostile party were to take over this company, the WARRANTS is the target.

MR Chang Lih Kang, MP for Tanjung Malim (PKR) & Mr Su Keong Siong, MP for Kampar (DAP). Both in the Board of directors. ( Annual Report 2019 ). Dato Dr Mah Hang Soon is the First Deputy Minister of Education (PN) and deputy President of MCA.

Fight lar... Fight until lembu come come...by that time klse already 2000 points, metronic still 2s. LOL

Will YTL get back the online education soon? The 1 bestari project was cancelled by the PH govt in 2019

Ya. Forgot....Metronic is involved in.....Boardroom fighting..!! LOL

Lucky.....5G award cancelled. Last chance to tender!!!

5G already awarded............Metronic get nothing...LOL....duck egg

Maybe they get ECRL package also like Gadang

Page 16

Yes. May 25 to 31 issue.

Will the real CAPTAIN, please stand up?? LOL...

High speed means high speed. Otherwise it defeat the purpose. Tun plan is outdated.

Edge say no more PDP (Project Delivery Partner) to save cost. Maybe YTL pau everything from KL to Singapore? If so, then RM 4.00 should be the target.

Old Story 1 year ago. ..as you know nothing happened. This ship have so many captains. No direction.

A ship can only have ONE captain. Who is Metronic REAL boss? Is it LKY, Pang or Sanichi? LOL...

YTL will be the preferred vendor. DAP & PKR reps not welcomed.

This co cannot move right, left, up or down. Stuck in the twilight zone...LOL

This co has no direction or leadership. Directors fighting. Stay away. Lol

Lol...doesn’t matter it has 60 m or 100m. Who controls this co? sanichi, pang or lky? A co with no direction is useless..LOL. Better stay away.

Buy and keep in muzuem? Lol

Pay 26m. Cannot have board seat and control of company. For fun...LOL

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.

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