- We are positive on Top Glove’s latest joint venture (JV) for high-density polyethylene (HDPE) gloves, which will strengthen its product offerings and market reach. The 60:20:20 JV will operate at an existing Top Glove factory and begin producing HDPE glove for a US customer starting in Dec 2024.
- - Read this at SGinvestors.io -
Establish a 60:20:20 JV to produce HDPE gloves
- Top Glove has entered into a 60:20:20 joint venture agreement with Tronex (Asia) Ltd and Polywel International Trade Company Ltd to produce and distribute HDPE gloves. The JV will establish a new entity, namely TG Meditech S/B. The total investment of MYR2.4m (Top Glove’s 60% stake: MYR1.4m) will be allocated for the purchase of new machines.
- - Read this at SGinvestors.io -
- Polywel manufactures and trades HDPE gloves and related products.
Backed by ready orders from USA
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Wong Wei Sum CFA Maybank Research | https://www.maybank.com/ 2024-11-24
Previous report by Maybank:
2024-07-29 Malaysia Gloves Sector - Intensifying Competition; Downgrade To Tactical Positive.
Price targets by other brokers at Top Glove Target Prices.
Listing of research reports at Top Glove Analyst Reports.
Relevant links:
Top Glove Share Price History,
Top Glove Announcements,
Top Glove Dividends & Corporate Actions,
Top Glove News Articles
