Koon Yew Yin 10 Nov 2020
On 29 June the company said in a filing with Bursa Malaysia that it was acquiring glove maker Pearl Glove Sdn Bhd (PGSB) for RM22 million cash.
It said the vendors were Hai Hong Capital Sdn Bhd, P’ng Sim Guan, P’ng Lai Heng, Hai Hong Holdings Sdn Bhd and Aaron Khoo Teng Soon.
The group noted that the immediate outlook for PGSB’s existing business as a trusted and tested OEM/ODM manufacturer of safety gloves is extremely positive as the demand for industrial safety gloves increases proportionally with improving workplace and safety practices globally.
On 6 November AT Systematization signed an agreement with LKL International to sell and distribute natural rubber latex and nitrile gloves. It will start production of medical gloves in December.
The gloves would be mainly distributed to hospitals and healthcare providers, with a targeted volume of up to 2.6 billion pieces per year.
LKL managing director Lim Kon Lian said AT Systematization would be able to tap into the former’s extensive distribution network within the healthcare industry, both in Malaysia and internationally.
Comparison
AT Systematization’s total issued shares is 3180 million shares X 19 sen = Rm 605 million market capitalization. It produces 2.6 billion gloves annually. Rm 605 divided by 2.6 billion = 23 sen per glove
Comfort Glove’s total issued shares is 583 million shares X Rm 4.22 = Rm 2.460 billion market capitalization. It produces 5.4 billion gloves annually. Rm 2.46 billion divided by 5.4 billion = 46 sen per glove.
Supermax’s total issued shares is 2.721 billion shares X Rm 8.90 = Rm 24.217 billion market capitalization. It produces 26.6 billion gloves annually. Rm 24.217 billion divided by 26.6 billion = 91 sen per glove.
More medical gloves are required when vaccine is approved by FDA. Medical staff have to wear gloves to inject vaccine as shown in photo below. The world is celebrating Pfizer’s overnight announcement of a viable Covid-19 vaccine.
More medical gloves are required when vaccine is approved by FDA. Medical staff have to wear gloves to inject vaccine as shown in photo below. The world is celebrating Pfizer’s overnight announcement of a viable Covid-19 vaccine.
http://koonyewyin.com/2020/11/10/at-systematization-is-the-most-underrated-unknown-glove-maker/
