Hartalega Holdings Bhd is optimistic that the US will remain its biggest export market despite ongoing trade tensions. — AFP pic
Hartalega managing director Kuan Mun Leong said that currently the US contributes 54 per cent of its total sales as of end of financial year 2019 ended March 31. “We expect it to remain strong in the coming years, even though the trade spat is going on,” he said at the company’s annual general meeting here today.“We are also looking into other new markets to strengthen our businesses,” he said.
“The US market had shifted to Malaysia even before the trade spat started. The Chinese, on the other hand, are now moving to Europe, for example. On this matter, we can only analyse the full impact of the trade war in the next six months,” he said. On its expansion plans, Kuan said its next-generation integrated glove manufacturing complex would be completed and fully operational by 2021, which would increase the company’s production capabilities from 34 billion pieces to 44 billion pieces per annum.