The Chinese herbs and medicine retailer and wholesaler is signing a five-year MoU today to help Majlis Amanah Rakyat promote products manufactured by bumiputra entrepreneurs locally and in China. It will also assist these entrepreneurs on business opportunities in China and identify suitable products from China to be imported and marketed in Malaysia. The company is stepping up efforts to penetrate the large Malay population, which accounts for about 60% of the national market. Besides the core Chinese medicine, the group has also diversified into other activities, such as healthcare products, watches and computers.
Its newly-formed 50:50 joint Canadian join venture company, Supermax Canada Inc, aims to capture 20% of the Canadian medical gloves market, worth about RM290mil a year, within the next three years. The latex glove manufacturer, the second largest in Malaysia and the sixth largest worldwide, exports to over 125 countries. Its sixth manufacturing plant, to be operational later this year, is expected to boost production capacity from 7.1 billion pieces to 8.1 billion. The company recently proposed a 1-for-4 bonus issue of up to 24.2 million shares of RM1 each and a private placement of up to 10% of the enlarged share capital.
The country's largest private healthcare provider is gearing up to tap the booming health tourism market. Its 13th hospital in Seremban is expected to be in operation by year end. It has been expanding and upgrading its existing hospitals for the past three years, and has earmarked some RM100mil to be invested for that purpose over the next two years. Its management had said future expansion in both domestic and overseas markets would be by way of hospital management contracts instead of ownership. It currently manages two hospitals in Indonesia and one in Kuching.
The consumer electrical and electronics appliance maker is increasing its investment in wholly-owned Khind-Mistral Industries Sdn Bhd, raising the unit’s paid-up capital to RM5mil from RM50,000 to be more reflective of the proposed new operations and assets to be employed in Khind-Mistral. Late last month, Khind said it would be acquiring 40% of PT Mistral, the distributor of Mistral brand in Indonesia, to strengthen Its presence among the large population base of the country. Khind exports its range of Khind and Mistral-branded electrical appliances to more than 50 countries.
The electrical product maker expects its new RM10mil assembly plant in Penang to begin operations next month. The new plant would have an annual production capacity of up to two million fans and 70,000 washing machines. Its existing plant would then focus on assembling small home appliances. The company last week announced plans for a two-for-one stock split and the establishment of a new employees’ share option scheme of up to 15% of its paid-up capital.
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