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Kossan Declares 11 Sen Dividend as Fy20 Profit Hits Rm1.09b

16
Feb 2021

Kossan Rubber Industries Bhd reported today a net profit of RM542.49 million for the fourth quarter ended Dec 31, 2020 (4QFY20), almost nine times the RM61 million it recorded in the corresponding quarter a year ago, thanks to higher volume of gloves sold and better average selling prices.The 4QFY20 net profit is up 56% from the RM348.74 million that Kossan made in 3QFY20, as revenue grew 27% from RM1.03 billion.

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Norwegian Language Requirement Will Apply Following MDR Implementation

14
Feb 2021

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The Norwegian Medicines Agency (NoMA) has added language (link in Norwegian) on its website regarding the requirement that medical device labeling and instructions for use (IFU) be printed in the Norwegian language in order to be legally marketed in in the country. The expanded notice confirms that the language requirement will still apply following the implementation of the EU Medical Devices Regulation (MDR) on May 26, 2021.

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Kossan's Gloves Orders Fully Taken Up Until End-2021

17
Jan 2021

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Kossan Rubber Industries Bhd continues to witness strong global glove demand owing to Covid-19 as the company's capacity has been fully taken up until end of 2021, said CSG-CIMB. Its analyst Walter AW said Kossan had also been receiving orders for the first quarter (Q1) of 2022 and fully filled up its allocation for spot orders, utilising up to 20 per cent of its total capacity, till end of 1Q of this year.

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Riverstone Acquires More Land to Ramp Up Production for Cleanroom Gloves

19
Jan 2021

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A wholly-owned subsidiary of Riverstone Holdings has acquired a piece of industrial land in Malaysia for a total consideration of RM5 million (S$1.6 million) in a bid to expand the group's production capacity for cleanroom gloves and other operations. The land acquired by the subsidiary, Riverstone Resources, spans about 6,741 square metres, and is in the Bukit Beruntung industrial area in Selangor, Malaysia.

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Aspen Secures US$100m Glove Sales Contract

13
Jan 2021

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Aspen (Group) Holdings Ltd, which is diversifying from property into glove making, has secured a glove sales and distribution contract worth US$100 million. In a statement today, Aspen said its subsidiary Aspen Glove Sdn Bhd (AGSB) had entered into a sales and distribution agreement with a distributor for the offtake of its entire 2021 production.

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INIX-L&S Gloves to Double Production Capacity

11
Jan 2021

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ACE Market-listed INIX Technologies Holdings Bhd and L&S Gloves Sdn Bhd will start commissioning an additional two latex glove production lines by February to complement the existing two lines which are in production.INIX executive director Siva Kumar Kalugasalam said the company’s wholly owned subsidiary, INIX Glove Manufacturing Sdn Bhd (iNix Glove), has signed a 10-year lease agreement (renewable for another 10 years) for a 0.91ha glove factory site in Beranang, Selangor.

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Glove makers in for a good run this year

02
Jan 2021

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Glove makers are set to continue recording stronger earnings in 2021, on the back of higher average selling prices, increase in production capacity and better economies of scale. An analyst with a local bank-backed brokerage said demand for rubber gloves will continue to be strong next year, mainly due to the impact of the Covid-19 pandemic and distribution of the vaccine across the globe.

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Tapping demand for medical devices

02
Jan 2021

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The growing global medical-grade silicone rubber market is providing fresh opportunities for rubber medical component manufacturers to expand. Silcotech Industry Sdn Bhd, a rubber component producer based in Sungai Petani, Kedah, is one of the companies looking to leverage this surge in demand. “Three years ago, we ventured into the production of rubber medical parts, a diversification from our core business which was supplying silicone components to the consumer electronics industry.

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