Aspion Top Glove Kelantan
Description Description Aspion is married with Top Glove family to build up a strong conglomerate to improve the glove manufacturing and supplying business. Top Glove to purchase Aspion.
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What started as only a local business enterprise with 1 factory and 1 glove.
Aspion top glove kelantan. Aspion Sdn Bhd one of the largest surgical glove producers globally. 199801018294 474423-X Top Glove Media Contact. The company was founded in 2012 and based in Kota Bharu Kelantan Malaysia.
Top Glove said its investigation found an overstatement of inventory plant and machinery in Aspions accounts that amounted to RM744 million while the acquisition price of Aspion was overstated by RM6405 million. The lawsuit is expected to take at least a year to resolve. KUALA LUMPUR Jan 12.
Top Glove Corp Bhd is set to become the worlds largest manufacturer of surgical gloves after its shareholders approved its purchase of Aspion Sdn Bhd for RM 137 bil in cash and shares. Currently it has three production facilities Kulim Kedah Kota Baru Kelantan and Kluang Johor with a capacity of five billion pieces per annum according to CIMB Research. Says the plan to buy surgical glove maker Aspion Sdn Bhd for at least RM13bil will boost the groups profits by a fifth in the financial year ending Aug 31 2018 FY18 and accelerate the groups expansion into the highly lucrative segment of the market.
Top Glove Corp Bhd today signed a conditional share purchase agreement with Adventa Capital Pte Ltd to acquire the entire equity interest in glove manufacturer Aspion Sdn Bhd for RM137 billion. Currently it has three production facilities Kulim Kedah Kota Baru Kelantan and Kluang Johor with a capacity of five billion pieces per annum according to CIMB Research. In a filing with Bursa Malaysia Top Glove said RM123 billion of the purchase consideration will be satisfied with cash funded entirely from a.
Aspion has provided a profit after tax guarantee of RM80mil for the year ending Oct 31 2018. Lim believes that Aspion will enable Top Glove to venture into the highly specialised surgical glove space and move up the value chain. Aspion is wholly owned by Adventa Capital Pte Ltd whose major.
Top Glove had earlier said it had entered into a term sheet with Adventa Capital Pte Ltd to buy Aspion in a deal worth between RM13bil and RM14bil. This led to its RM7149 million claim against the trio. Note that the profit guarantee clause is no longer valid given that Top Glove has now gained full control over.
Keeping in mind what the customers are desirous Aspion manufacturers the best gloves. Kota Bharu Kelantan Malaysia. Operates as an investment holding company with interest in producing automated peritoneal dialysis machines and surgical gloves.
Top Glove Corporation Bhd Company No. Production line has today captured 26 of the world market share for rubber gloves. Established in 1991 and headquartered in Malaysia Top Glove Corporation Bhd is the worlds largest.
1 Jalan 8 Pengkalan Chepa 2 Industrial Zone 16100 Kota Bharu Kelantan. Lim believes that Aspion will enable Top Glove to venture into the highly specialised surgical glove space and move up the value chain. Top Glove Corporation Bhd.
Top Glove had previously acquired Aspion for a purchase consideration of RM137bn. It is more durable resilient flexible and hands-specific. The deal comes with a profit guarantee of maximum RM100m should Aspions earnings fall short of RM809m and RM1083m for FY18 and FY19 respectively.
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