Aspen shares had risen 21.7 per cent to close at 18.5 cents on Tuesday, before the Malaysian firm announced it appointed Calvin Ng as chief operating officer of its new glove unit. Mr Ng, 48, had served in senior leadership roles in the past two decades in the rubber-glove manufacturing industry.
The company on Tuesday also said it will increase its production capacity to 1.5 billion gloves per year for the first phase, up from the initially planned 1.1 billion. Aspen is negotiating with potential buyers to secure orders on a forward-purchase basis. It has started the piling works and construction for the manufacturing facility at Kulim High-Tech Park in Malaysia, and targets to complete the main building works by March 2021.Other glove stocks on the Singapore bourse had a more muted showing on Wednesday.
Top Glove, the world's largest glove manufacturer, lost 0.8 per cent or S$0.02 to trade at S$2.62 as at 1.46pm, after 3.7 million shares changed hands. Riverstone Holdings dropped S$0.09 or 2.6 per cent to S$3.37 on 1.5 million shares, while UG Healthcare was up 4.6 per cent or S$0.10 to S$2.27 with 1.1 million shares traded.For daily updates on weekdays and specially selected content for the weekend. Subscribe to
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