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1 Tempered Growth Expectations for Medical Device Markets in 2018 New 16-03-2018 16-03-2018 Medical device manufacturers' growth expectations for markets worldwide have decreased for 2018 compared to previous years due to various regulatory and economic factors, a recent survey shows. Emergo's Global Medical Device Industry Outlook for 2018 included responses from nearly 4,000 participants on which markets they expect to yield the most growth this coming year. View
2 Kossan Rubber to Buy Land in Perak for Manufacturing Expansion New 16-03-2018 16-03-2018 Kossan Rubber Industries Bhd is buying two pieces of land in Bidor, Perak from Perbadanan Kemajuan Negeri Perak (PKNP) for RM82.42 million cash. The group said it plans to use the land for its integrated glove manufacturing expansion. In a filing with Bursa Malaysia today, Kossan said its subsidiary Premium Medical Products Sdn Bhd has entered into a sale and purchase agreement (SPA) with PKNP for the land measuring 824.11 acres. View
3 Malaysia's Rubber Products Export Reached RM21.7 billion in 2017 Archieved 09-03-2018 09-03-2018 Malaysia's exports of rubber products reached RM21.7 billion in 2017, compared to RM18.2 billion in 2016. This is an increase of 19.2 %. The Malaysian Rubber Export Promotion Council (MREPC) said the stellar growth was despite the strengthening ringgit against the US dollar, which translated into lower revenue in ringgit terms. View
4 Greater Automation for Top Glove Archieved 09-03-2018 09-03-2018 Digital adoption is set to take centre stage in Top Glove Corp Bhd's operations as the glove maker plans to reduce manual labour, driven by greater automation and digitalisation of its production lines. The world's largest glove manufacturer projects significant production cost savings moving forward, given its plan to cut its total number of foreign workers to about 50% of its total workforce in the medium term. Currently, foreign workers comprise about 75% of Top Glove's workforce of 14,000 employees. View
5 New Factory will Support Company's Growth - Kossan Rubber Industries Berhad Archieved 02-03-2018 02-03-2018 Glovemaker Kossan Rubber Industries Bhd said that its new factory - known as Plant 16 - will underpin the company's growth this year. The factory in Jalan Meru will add three billion pieces of gloves a year to its production, boosting the group's capacity to 25 billion pieces a year. View
6 Indian Regulators Issue FAQ on Medical Device Rules Archieved 02-03-2018 02-03-2018 The Central Drugs Standard Control Organization (CDSCO), India's medical device market regulator, has published a new Frequently Asked Questions (FAQ) document to clarify industry questions regarding the country's new medical device oversight system. The CDSCO FAQ addresses compliance with Indian Medical Device Rules 2017, which went into effect in January 2018: since implementation of the new regulations, Indian medical device registrants have raised various questions and concerns regarding issues such as registration renewals, marketing applications currently under review, and changes to the CDSCO list of notified medical devices. View
7 Malaysia to Continue Domination of World Rubber Gloves Market Archieved 23-02-2018 23-02-2018 Given the strong export performance in 2017, Malaysia is expected to continue dominating the world market for rubber gloves, especially medical gloves, for use in the healthcare sector. Minister of Plantation Industries and Commodities, Datuk Seri Mah Siew Keong said the industry is confident of achieving the target of securing at least 65 per cent of global exports of rubber gloves in 2020. “In 2017, global exports of rubber gloves were estimated at 228 billion pieces and is projected to reach 287 billion by 2020,” he said in a statement today. View
8 Malaysia Auto Industry Aims To Create Over 29,000 New Jobs Archieved 23-02-2018 23-02-2018 The Malaysian automotive industry will introduce an additional 29,641 new jobs in 2018, according to the Ministry of International Trade and Industry (MITI). MITI has explained that the industry has seen considerable growth over the last couple of years, with 27,125 new jobs created in December last year. The organisation also noted that figures signify a heightened perception that the automotive sector is a progressive career of choice for graduates. View
9 Supermax 2Q Earnings Jump 59% on Stronger Revenue, Improved Capacity Archieved 19-02-2018 19-02-2018 Supermax Corp Bhd's net profit jumped 59% to RM35.9 million in the second quarter ended Dec 31, 2017 (2QFY18) from RM22.57 million a year ago, driven by stronger revenue, higher production capacity and improved operational efficiency. Quarterly revenue grew 42% year-on-year to RM335.91 million from RM236.74 million, as it enjoyed stronger demand for gloves and achieved higher output. The glove maker declared a single-tier interim dividend of 3 sen per share in respect of FY18, to be paid on March 28. For the first six months of FY18 (1HFY18), the group's net profit grew 52% y-o-y to RM63.8 million from RM42.11 million, as revenue rose 28% to RM647.94 million from RM505.74 million. View
10 Exports of Natural Rubber, Rubber-Based Products Jumps 30% Archieved 19-02-2018 19-02-2018 The natural rubber and rubber-based products were the 'stars' in 2017, with export up 30.2% to RM32.3bil, said Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong. He said the other commodities, such as palm oil, also performed reasonable well, increasing by 14.6 % to RM77.8 bil. View
11 Malaysia: Higher Sales, Forex Gains boost Hartalega Profits Archieved 09-02-2018 09-02-2018 Hartalega Holdings Bhd posted a net profit of RM113 million for the final three months (4Q) of 2017, almost double than the RM66.2 million recorded for the same period a year ago, boosted by higher sales, lower operating costs and foreign-exchange (forex) gains. The glove maker's revenue for the October-December 2017 period rose to RM603 million from RM456 million in 2016. View
12 Malaysia Exports at RM935.4 Billion, Strongest Since 2005 Archieved 09-02-2018 09-02-2018 Malaysia's total exports rose almost 19% to RM935.4bil in 2017 "the strongest growth since 2005 and a record high" underpinned by exports of electrical and electronics (E&E) and also major commodities. The Ministry of International Trade and Industry (MITI) said on Wednesday imports grew about 20% to RM838.14bil, driven by higher imports of intermediate and capital goods. View
13 Malaysia: Top Glove Sees Tech and Teamwork as Key to Growth Archieved 02-02-2018 02-02-2018 Top Glove aims to become a Fortune 500 company by 2040 with an even bigger share of the international glove market, says founder and Executive Chairman Lim Wee Chai. As part of its merger and acquisition plans, the world's largest rubber glove maker by capacity recently acquired Malaysian surgical glove maker Aspion for 1.37 billion ringgit ($353 million) in cash and shares. Top Glove's plans to enter the Vietnamese market are expected to be finalized this year. View
14 Malaysia: Rising Ringgit Drives up Auto Stocks Archieved 02-02-2018 02-02-2018 Automotive stocks could get a continued upward bump if the ringgit's recovery against the US dollar is sustained. These stocks could add on to gains if consumers feel better about the economy and in turn ramp up spending on big-ticket items. It was recently reported in Grant Thornton's quarterly business survey that business leaders in Malaysia saw their optimism rising by 6% in the fourth quarter of 2017, a sharp rebound from a negative 36% a year ago. View
15 Malaysia: Rubber Glove Makers Expected to Add 18.75 Billion Pieces in 2018 Archieved 26-01-2018 26-01-2018 After a lackluster performance in 2016 with an average return of -21%, rubber product companies outperformed the FBM KLCI in 2017 with an average return of 29% (47.5% ex-Karex Bhd) versus FBM KLCI at 9%. As exports account for more than 90% of revenues which are denominated in US dollars while a substantial portion of the cost base denominated in ringgit, a stronger ringgit will affect revenue upon translation into the home currency. View
16 Malaysia: Hartalega to Launch Anti-Microbial Gloves in Europe by H2 2018 Archieved 26-01-2018 26-01-2018 Hartalega Holdings aims to launch its anti-microbial gloves in Europe by the second half of 2018 and it is working on securing Federal Drug Administration (FDA) approval to enter the US market. CIMB Equities Research said on Wednesday that to encourage better take-up for this product and as a marketing strategy, the group aims to price this product more competitively with any premium in its selling price just adequate to cover the additional manufacturing costs. View
17 Top Glove Inks RM1.37 Billion Deal to Acquire Aspion Archieved 19-01-2018 19-01-2018 Rubber glove manufacturer, Top Glove Corporation Bhd, has signed a deal to acquire Aspion Sdn Bhd, the surgical glove producing unit of Singapore's Adventa Capital Pte Ltd, for RM1.37 billion. On Nov 24, 2017, the world's largest manufacturer of gloves entered into a term sheet to negotiate definitive agreements for the proposed acquisition of Aspion Sdn Bhd. Upon completion of the proposed acquisition of Aspion, Top Glove will emerge the global leader in surgical glove manufacturing, further solidifying its status as the world's largest manufacturer of gloves. View
18 HLT Global to Diversify into Rubber Gloves Manufacturing Business Archieved 19-01-2018 19-01-2018 Glove-dipping line manufacturer HLT Global Bhd has proposed to acquire HL Rubber Industries Sdn Bhd (HLRI) for RM33 million, in a move which will see it diversify into the rubber gloves manufacturing business. HLRI is primarily engaged in the manufacturing and trading of rubber gloves, including both natural and synthetic rubber gloves for customers in the medical, food and beverage as well as consumer industries amongst others. View
19 Malaysia: Top Glove to Raise Selling Price of Products in February Archieved 12-01-2018 12-01-2018 Malaysia's Top Glove will raise the selling price of its products by two percentage points in February, repeating this month's move as the world's largest rubber glove producer by capacity seeks to offset higher costs, its chairman said Tuesday. "Top Glove has adjusted the price until February but if the ringgit continues to climb against U.S. dollar, then we can increase by another 2% in the following months," Lim Wee Chai told Nikkei Markets on the side lines of the company's shareholders' meeting. View
20 Monsoon Season Aid to Benefit Small Farmers and Rubber Tappers Archieved 12-01-2018 12-01-2018 The Government's Monsoon Season Aid (BMT) of RM200 per month in November 2017 to January 2018 has benefitted 440,000 small farmers and rubber tappers, according to Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong. In a statement, Mah said the objective of the BMT was to ensure that the welfare of small farmers and rubber tappers are protected during the monsoon season. The Government has allocated RM261mil for this purpose. View
21 2018 is an Exciting Year for Malaysia's Car Industry Archieved 05-01-2018 05-01-2018 The year 2018 is shaping up to be an exciting one for the car industry as global manufacturers rev up their operations in Malaysia to capture bigger slices of a growing market. Towards this end, automotive industry executives are expecting further consolidation in the industry. “There will be more corporate exercises to consolidate the assembly segment of the automotive industry. This is to bring down the cost further,” said an executive. View
22 Malaysia, Thailand and Indonesia withholding Exports of 350,000 Tonnes of Natural Rubber Archieved 05-01-2018 05-01-2018 Malaysia, Thailand and Indonesia have committed to withhold exports of 350,000 tonnes of natural rubber (NR) under the implementation of the Agreed Export Tonnage Scheme (AETS) with immediate effect until March 31, 2018. The International Rubber Consortium Ltd (IRCo), in a statement today, said this would be implemented through their respective domestic regulators, including addressing business commitments under existing forward contracts. View