Top Glove now eyes condoms for exports, capex RM30m


SHAH ALAM: The world's top glove maker, Top Glove Corp Bhd is planning to manufacture condoms for the export market with an initial investment of RM30mil.

Executive chairman Tan Sri Lim Wee Chai said this was part of Top Glove's diversification to expand its business.

"It's a good business to go in as in terms of price-earnings valuations it's very high," Lim said on the sidelines of the company's third quarter results briefing for the financial year 2017 on Tuesday.

Lim said Top Glove intends to build the factory on a five acre site in Klang. 

The RM30mil investment will be for building the plant and machinery. It will kick off production with 20 lines first.

The company is targeting  to set up the plant a year from now.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Radium’s net profit up to RM4.8mil in 3Q
7-Eleven’s quarterly revenue climbs
SimeProp seeks quality assets for recurring income
Lower interest costs buoy TSH nine-month showing
Zetrix a profit driver for MyEG Services
NFO segment to sustain Sports Toto’s earnings
Thong Guan spreading its wings to Europe, America
Hap Seng bottom line in four-fold rise
Mixed views on PetChem on higher interest expense
No new impetus seen for JETP under Trump

Others Also Read