Supermax will incur additional labour cost at an average of RM1mil per month due to the minimum wage policy, or RM13mil per annum (9% of its 2013 net profit), according to Kenanga
KUALA LUMPUR: US-based fund FMR LLC has ceased to be a substantial shareholder of glove maker Supermax Corporation Bhd
after a series of disposals in January.
Filings with Bursa Malaysia on Friday showed FMR’s stake had fallen below the 5% level or 33.119 million shares after the sale of 500,000 shares on Jan 21.
It had on Jan 20 disposed of 582,300 shares and reduced the shareholding then to 5.00% or 33.619 million shares.
FMR had on Jan 11 sold 211,000 shares.
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