Group managing director Datuk Seri Stanley Thai Kim Sim said Malaysia is one of the countries benefiting from the trade tiff between the two economic giants.
Group managing director Datuk Seri Stanley Thai Kim Sim said this was because the US government had imposed a 10 per cent tariff on medical gloves made in China starting from September 1.“The US-China trade war has and will continue to disrupt the global supply chain, and this augurs well for the company,” he told a media briefing after announcing the company’s full year results here today.
He also said that Supermax’s industrial glove market — which currently accounts for about 10 per cent of its total exports — is set to grow as non-medical gloves made in China have also been slapped with a 25 per cent import duty by the US government back in May. On capacity, he said the company aims to increase its production to 27 billion tonnes by December 2020 from the current 21.75 billion tonnes, and plans to boost it to 44.1 billion tonnes by 2024. On its expansion plan, he said the company’s three new plants will be completed by the first quarter of 2020 , Q2 2021 and Q3 2022.
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