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2020-08-11 21:50 | Report Abuse
FutureGains have you read reply query to Bursa? They mention are preparing necessary applications and liaising with the following local
authorities to obtain the relevant regulatory approvals for the Gloves Business:-
(i) Department of Environment
(ii) Fire and Rescue Department Malaysia
(iii) Local district council
(iv) Department of Occupational Safety and Health
(v) Malaysia Investment Development Authority
(vi) Malaysian Rubber Board
(vii) Medical Device Authority
(viii) Ministry of International Trade and Industry of Malaysia
The Group intends to obtain the approvals from the above authorities / regulatory bodies by
November 2020.
2020-08-11 19:33 | Report Abuse
(For consistency purposes, the abbreviations and definitions used throughout this announcement shall
have the same meanings as those previously defined in the Company’s announcements dated 10
August 2020 in relation to the Proposals.)
We refer to the Company’s earlier announcement in relation to the Proposals dated 10 August 2020
(“Announcement”).
In relation to the Announcement, on behalf of the Company, Mercury Securities wishes to announce
the following additional information:-
1. The expected commencement date of production of the first glove-dipping line.
The first glove-dipping line is expected to be delivered, installed and commissioned in
November 2020. The production is expected to commence in November 2020.
2. The prospects of the Gloves Business.
Since the outbreak of the Coronavirus disease (“COVID-19”) pandemic, the demand for
personal protective equipment to curb the pandemic has boosted the demand for medical
gloves. According to the World Health Organisation ("WHO"), an estimated 76 million pieces of
examination gloves are required for the COVID-19 response each month. Hence, the need for
medical gloves as personal protective equipment during the COVID-19 pandemic will boost the
demand for rubber gloves, especially in countries that are severely affected.
In 2019, Malaysia is the world’s largest exporter of rubber gloves, where exports of
rubber gloves from Malaysia contributed to approximately two-thirds of the total global
demand for rubber gloves. The MARGMA expects exports of rubber gloves from
Malaysia to reach 220 billion pieces in 2020, an increase of 17.65% from 2019 to
support the surge in demand for medical gloves globally due to the on-going COVID-
19 pandemic. Based on latest available data, in May 2020, the top export countries of
rubber gloves from Malaysia in terms of tonnage is the United States of America (42%) followed
by Germany (10%).
If the COVID-19 infection rates globally remain high, the global demand for rubber gloves is
expected to continue rising in the near term. Additionally, moving forward, demand for rubber
gloves is also expected to be driven by growth in the global industrial production activities and
the healthcare services.
The diversification into the Gloves Business is aimed at providing an additional stream of
income to the Group while capitalising on the acute surge in global demand of gloves resulting
from the COVID- 19 pandemic. The Group is hopeful that the Proposed Diversification can help
to mitigate potential downside risk of the Group arising from the wide-ranging effects of the
COVID-19 pandemic to the local and global economy. Subject to the global demand of gloves,
the Group may from time to time assess the manufacturing capacity of its glove-dipping lines
and may expand the glove-dipping lines of up to 20 lines as and when required.
Following the Manufacture and Sale of Rubber Gloves, the Group will be able to acquire
experiences and technical know-how on the rubber gloves industry over time. Coupled with its
existing manufacturing experiences, the Group intends to venture into the Manufacture of
Machines for Glove Industry as part of the Proposed Diversification that was announced by the
Group on 10 August 2020. Looking into the long-term demand growth of rubber gloves, the
manufacturers of rubber gloves will need to acquire additional glove-dipping lines and other
related facilities to fulfil demand.
2020-08-11 09:21 | Report Abuse
those who sell now would regret soon hahaha
2020-08-11 08:53 | Report Abuse
If using Mplus, just see T0 price to know what open price. For know, AT will be open at 0.145
2020-08-10 23:01 | Report Abuse
Buy 0.09, hold till price around hlt (rm2). Dont TP early. We all know how glove market can go
2020-08-08 00:05 | Report Abuse
Beware. Panic selling will be started
2020-08-04 10:49 | Report Abuse
sell volume much higher than buy volume
2020-08-04 09:42 | Report Abuse
so many people take CL today. so price can't go up fast
2020-08-03 16:31 | Report Abuse
will at fly like mqtech today?
Stock: [MINHO]: MINHO (M) BHD
2020-08-20 13:59 | Report Abuse
Last 2 weeks when lumber make all time high, all wood counter goes up. That is because gold suddenly drop also healthcare counter drop. Last week also lumber goes up but all lumber counter stay down because gold & nasdaq up & all focus on these counter also healthcare counter. Now gold go down again & lumber are reaching 800, maybe this is wood time again