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1 Top Glove's Net Profit up 51.4% in Q3 on Robust Demand New 22-06-2018 22-06-2018 Stronger demand helped drive earnings higher at rubber glove manufacturer Top Glove, it announced yesterday. Third-quarter net profit rose 51.4 per cent to RM117.6 million (S$40 million), while revenue rose 26.6 per cent to RM1.1 billion for the three months to May 31. This translated to earnings per share of 9.36 sen, from 6.20 sen a year earlier. Sales volume rose by a "record high" of 37 per cent from the third quarter last year. View
2 Game-Changing Glove has Built-in Infection Control New 22-06-2018 22-06-2018 Medical examination gloves have a whole new layer of infection control. A new type of glove has been developed with built-in antimicrobial technology that has been proven to prevent the spread of infection. University of Nottingham microbiologist Professor Emeritus Richard James has been working for several years on the project with medical glove maker Hartalega Malaysia and antimicrobial research and development company Chemical Intelligence UK. View
3 Malaysia: Rubber Glove Counters Rise on Weakening Ringgit Archieved 15-06-2018 18-06-2018 Export-oriented glove maker counters traded higher today as investors take a bet that the weakening ringgit against the greenback will boost their earnings. At 3.18pm, shares of Top Glove Corp Bhd rose 14 sen or 1.26% to RM11.28; Supermax Corp Bhd rose 24 sen or 6.68% to RM3.83; Kossan Rubber Industries Bhd gained nine sen or 1.12% at RM8.09; Hartalega Holdings Bhd rose one sen or 0.16% to RM6.21. View
4 Egypt's CAPA to Require Registration for All Medical Devices Archieved 15-06-2018 18-06-2018 Egyptian medical device market regulators will begin requiring registration for all medical devices prior to commercialization starting September 1, 2018. According to Emergo consultants in Cairo, the Egyptian Central Administration of Pharmaceutical Affairs (CAPA) has in essence nullified the agency's previous plan announced earlier in 2018 to expand regulatory oversight only to some non-sterile devices. View
5 Rubber Glove Sector Likely to See Slower Demand Archieved 08-06-2018 08-06-2018 There is not much excitement stemming from the rubber glove sector. Two of the three companies under our coverage - Top Glove Corp Bhd and Kossan Rubber Industries Bhd - posted results that were in line, while Hartalega Holdings Bhd missed expectations for the second straight quarter on the back of cost pressures. Sector core earnings contracted 4% quarter-on-quarter due to narrower margins. We note the street is still projecting earnings to rise 28% year-on-year in view of a strong demand for rubber gloves (mid- to high-teens growth versus 12-year average of mid- to high single-digit annually). View
6 Free Tax Period to Boost Auto Sector Archieved 08-06-2018 08-06-2018 The country's automotive sector is expected to perform better during the three months "free tax period'' from June to August, as the zero-rating of the Goods and Services Tax (GST) starting this month would stimulate sales. "We are looking forward to a better second half this year and hopefully, the consumer market will be more aggressive," New Hoong Fatt Holdings Bhd MD Chin Jit Sin (picture) said after the company's AGM in Kuala Lumpur last Friday. View
7 Full Enforcement of Malaysian Medical Device Regulations Set for July 1, 2018 Archieved 01-06-2018 31-05-2018 The Malaysian Medical Device Authority (MDA) has given official notice that registration requirements under the country's Medical Device Act 2012 will come fully into force on July 1, 2018. According to the MDA notice (link in Malaysian), all registration applications submitted to MDA on or before June 30, 2016 must be completed by June 30, 2018. View
8 Malaysia: The Good And Bad That Investors Should Know About Riverstone Holdings Limited's Latest Earnings Update Archieved 01-06-2018 31-05-2018 Riverstone Holdings Limited (SGX: AP4) is a Malaysia-based company that manufactures gloves that are used in the healthcare as well as cleanroom industries. In early May, the company announced its 2018 first quarter earnings update. There are both positive and negative takeaways that investors may want to learn about. But first, let's run through the company's numbers. View
9 Medical Device QMS Harmonization: US Considers Aligning to ISO 13485 Archieved 25-05-2018 25-05-2018 US medical device regulators' plan to replace components of FDA Quality System Regulations with ISO 13485 requirements will potentially result in making compliance more efficient for manufacturers commercializing in multiple markets. View
10 Malaysia: Kossan Targets Double-Digit Capacity Growth in Two Years Archieved 25-05-2018 25-05-2018 Kossan Rubber Industries Bhd is targeting a double-digit growth rate for its rubber glove production capacity in the next two years, with total capacity expected to hit 32.5 billion pieces by end-2019, from 25 billion at present. The group estimates that its annual production capacity will rise by 10% by year end on commencement of Plant 16, and by 16% by end-2019 as Plants 17, 18 and 19 kick off operations, according to Kossan managing director (MD) and chief executive officer Tan Sri Lim Kuang Sia. View
11 ANVISA Changing Brazilian Market Pathway for Low-risk Medical Devices Archieved 18-05-2018 18-05-2018 Brazilian medical device regulators have approved plans to amend registration requirements for low-risk devices to more closely align with International Medical Device Regulators Forum (IMDRF) recommendations. According to Emergo consultants in São Paulo, Brazil's medical device market regulator ANVISA will issue a 60-day consultation for a proposal to change the agency's cadastro registration pathway for Class I devices to a notification pathway, with implications for premarket review requirements for affected manufacturers. View
12 FDA Report Opposes Regulating Third-Party Servicers Archieved 18-05-2018 18-05-2018 FDA issued today its long-awaited report on "Quality, Safety and Effectiveness of Servicing of Medical Devices". The report, mandated by Congress last year, is 27 pages in length. Citing the long-term analysis of the FDA MAUDE database by ECRI Institute, the FDA noted that ECRI had concluded they do not believe that a safety problem exists with the servicing, maintenance, and repair of medical devices by either third-party organizations or OEMs. View
13 Saudi Regulators Extend Deadline for Low-Risk Medical Device Registrations Archieved 18-05-2018 18-05-2018 The Saudi Food and Drug Administration (SFDA) has pushed back compliance deadlines for a new registration pathway for low-risk medical devices. According to a notice published by the SFDA, enforcement deadlines for Class I non-sterile, non-measuring devices to register under the new Medical Device National Registry (MDNR) market authorization pathway have been moved from May to September 2018. View
14 Malaysia's Auto Industry to Become Smarter Sector Archieved 04-05-2018 04-05-2018 The automotive industry will become a smarter sector and be equipped with high-end technology in the future. Prime Minister Datuk Seri Mohd Najib Razak said the vision for the automotive sector will be supported by the ability to leverage and optimise the usage of big data, as well as the high-speed Internet available in the country. "It is the government's aspiration to see what we call as the 'connected mobility vision' materialise in the next decade,'' he said at the launching of the Malaysia Autoshow 2018 in Serdang yesterday. View
15 Supermax to Adopt Two-Pronged Method to Propel Growth Archieved 04-05-2018 04-05-2018 Supermax is currently upgrading, rebuilding and replacing its old production lines in two of its older plants located in Taiping and Sungai Buloh. Upon completion, the Block G plant located in Kamunting Raya, Taiping, will have six double former lines with an average capacity output of 1.35 billion pieces per annum. Meanwhile, its Sungai Buloh plant will have 10 double former lines with an average capacity output of 2.42 billion pieces per annum. View
16 FDA Releases Action Plan to Enhance Medical Device Safety Archieved 27-04-2018 27-04-2018 The agency's latest action plan outlines the approaches it will take to advance its programmes and processes to ensure medical devices are safe. Led by Dr Jeffrey Shuren, the FDA's Center for Devices and Radiological Health (CDRH), is working on new policies that utilise real world evidence and is establishing a framework for digital health devices. View
17 Malaysia Remains a Key Market for Mercedes-Benz Archieved 27-04-2018 27-04-2018 Malaysia remains a key market for Mercedes-Benz in Southeast Asia, with sales of a record 12,045 units last year, nearly twice as many as Singapore, the next best market. The number of units sold by Mercedes-Benz Malaysia Sdn Bhd (MBM) last year was a 2.3% increase over the previous year. Mercedes-Benz sold 6,227 vehicles in Singapore and 3,386 in Indonesia. View
18 China to Restructure its FDA Archieved 20-04-2018 19-04-2018 China is looking to restructure its Food and Drug Administration, according to a new report from the Regulatory Affairs Professionals Society. With the reorganization, the CFDA will cease being a standalone department and will become part of the country's National Market Supervision Association, according to the report. The CFDA group is slated to add an additional 100 new individuals focused on regulating devices, and will drop its oversight of food, according to the report. The CFDA will also pursue increased inspections of foreign entities and penalties for noncompliance. View
19 Top Glove Plans More Acquisitions to Strengthen Market Share Archieved 20-04-2018 19-04-2018 After acquiring Aspion Sdn Bhd, its largest buy to date, Top Glove Corp Bhd is positioning itself for more acquisitions. Without going into details, executive chairman Tan Sri Lim Wee Chai tells StarBizWeek that the acquisition of Aspion is the company's largest and is one of many more to come. He says growing inorganically via acquisitions will be the priority of Top Glove in its quest to be a global leader in glove manufacturing. View
20 Malaysia's Manufacturing Sales Grew 4.9 Percent to RM62.3 Billion in February Archieved 13-04-2018 13-04-2018 Malaysia's manufacturing sector saw its sales value grow 4.9 per cent to RM62.3 billion year-on-year in February, said the Department of Statistics today. This was due to the increase in electrical and electronic products (5.7 per cent), petroleum, chemical, rubber and plastic products (6.6 per cent) and non-metallic mineral products, basic metal and fabricated metal products (5.1 per cent). View
21 Rubber, Tyres and Conveyor Belts among Goods Affected by Further Tariff by the Trump Administration Archieved 13-04-2018 13-04-2018 The Trump administration recently released a list of about 1,300 goods from China which they might impose a further 25% import duty on. The goods include tyres, conveyor belts and some types of rubber. These tariffs are part of the U.S. response to a Section 301 investigation which concluded that China is coercing U.S. companies into transferring their technology and intellectual property to Chinese enterprises. View
22 Top Glove Completes Acquisition of Aspion Archieved 06-04-2018 06-04-2018 Top Glove Corp Bhd has completed the acquisition of Aspion Sdn Bhd, an exercise which will see the company emerge as the world's largest surgical glove manufacturer, as well as solidifying its leadership position as the world's largest manufacturer of gloves. In a statement here today, Top Glove said, the share purchase agreement (SPA) had been completed, with the payment of the cash portion of the purchase consideration duly rendered and 20.51 million Top Glove consideration shares allotted to the vendor, Adventa Capital Pte Ltd. View
23 China FDA Reorganization: Impact for Medical Device Registrants Archieved 06-04-2018 06-04-2018 The Chinese government has reorganized its medical device and pharmaceutical regulatory oversight structures, but the effects of this restructuring for device registrants in China remain to be determined. By refining the CDA's focus to medical device and drug oversight, Chinese regulators should be able to utilize resources as well as address market registration reviews more effectively. By consolidating offices at the provincial level, CDA officials should also be able to apply policies more consistently. View
24 Malaysia: Malaysia's rubber glove exports to hit RM20b by 2020 Archieved 30-03-2018 30-03-2018 Malaysia's export of rubber gloves is expected to hit RM20 billion in value by 2020 given the growth recorded annually, said Datuk Seri Mah Siew Keong. "We are confident the export value will continue to rise based on a survey (by the Malaysian Rubber Board)," he told reporters. View
25 Malaysia: Malaysia’s rubber export to China rose 80 percent in 2017 Archieved 30-03-2018 30-03-2018 Malaysia’s rubber export to China rose 80 percent to RM6.6 billion or 875,000 tonnes last year. Plantation Industries and Commodites Minister Datuk Mah Siew Keong said the share percentage of rubber exports to China also increased to 73 percent last year, compared to 66 percent in 2016. View
26 Top Glove to Launch Own Condom Brand by Year-End Archieved 23-03-2018 22-03-2018 The world's largest glove manufacturer Top Glove Corp Bhd plans to launch its own condom brand Top Feel by year-end and will emulate its glove business model for its condom business, where 80% will be catered for original equipment manufacturers. Chairman Tan Sri Dr Lim Wee Chai said the group intends to start condom production by June or July this year and is also looking to acquire condom and glove factories now. View
27 Hartalega to Increase Annual Glove Output to 32 Billion Pieces Archieved 23-03-2018 22-03-2018 Nitrile glove manufacturer Hartalega Holdings Bhd aims to increase annual production to about 32 billion pieces by March 2019 from some 27 billion pieces now, as the company focuses on organic growth via capacity expansion. Hartalega executive chairman Kuan Kam Hon said the group will stay focused on organic growth in the absence of merger and acquisition (M&A) targets. View
28 Tempered Growth Expectations for Medical Device Markets in 2018 Archieved 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
29 Kossan Rubber to Buy Land in Perak for Manufacturing Expansion Archieved 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
30 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
31 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
32 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
33 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
34 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
35 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
36 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
37 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
38 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
39 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
40 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
41 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
42 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
43 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
44 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
45 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
46 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
47 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
48 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
49 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