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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EPF records RM19.29b in gross investment income for Q1 | Malay MailKUALA LUMPUR, June 8 ― The Employees Provident Fund (EPF) recorded a gross investment income of RM19.29 billion for the first quarter (Q1) ended March 31, 2021, despite uncertainties from Covid-19. The retirement fund said equities registered RM14.28 billion in income during the quarter,...
Source: malaymail - 🏆 1. / 86 Read more »
Strong earnings pull British shares higher; Aviva climbs | Malay MailLONDON, June 8 — British shares inched higher today, helped by positive earnings updates from companies including Intermediate Capital Group and British American Tobacco, while Aviva gained after an activist investor built up a stake. The blue-chip FTSE 100 index rose 0.2 per cent. Intermediate...
Source: malaymail - 🏆 1. / 86 Read more »
Hibiscus Petroleum shares higher on acquisition on Repsol assets | Malay MailKUALA LUMPUR, June 8 ― Hibiscus Petroleum Bhd was one of the top active counters, bagging 5.5 sen to 71 sen, with 108.82 million shares changing hands at 9.55am, following the details provided by the company on its recent acquisition of Repsol Exploración, SA (Repsol) assets to boost earnings....
Source: malaymail - 🏆 1. / 86 Read more »