KUALA LUMPUR, June 8 — George Kent Bhd has received its shareholders’ green light to design and build a glove manufacturing plant in Lumut Port Industrial Park, Perak, for about RM624.1 million.
Shareholders also approved today the group’s proposed subscription of 40 per cent equity interest in Dynacare Sdn Bhd, a wholly-owned unit of Johan Holdings Bhd, for RM40 million, or RM1 per share. “The contract also marks our entry into the glove manufacturing facility construction space. Demand for such facilities remains strong,” he said, adding that the group’s investment into Dynacare would provide an important new stream of sustainable and recurring long-term income its shareholders.
It will also design, install, test and commission 42 double-former glove-dipping lines and all ancillary systems at the plant over 24 months.
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