Hartalega to allocate RM630mil for capex over three years


  • Business
  • Thursday, 25 Jul 2019

Hartalega managing director Kuan Mun Leong continues to be optimistic about the rubber glove industry and he expects demand will soon recover and favour suppliers.

SEPANG: Hartalega Holdings Bhd will be pumping in more money to expand its glove making capacity and it will allocate RM630mil as capital expenditure in the next three years.

Managing director Kuan Mun Leong continues to be optimistic about the rubber glove industry and he expects demand will soon recover and favour suppliers.

“The RM630mil is for plant six NGC and also plant seven. Plant six’s first line will start operations in the first quarter of the year 2020. While Plant seven’s first line is targeted for the second half of 2020. 

"We plan to complete Plant seven by the financial year 2022,” Kuan said at a media tour of the company’s factory on Thursday.
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Hartalega, which produces some 34 billion pieces of gloves a year, will see its production rising to 42 billion pieces in the next three years under this expansion plan.

“We have a growth plan in place we have set aside RM630mil for plants six and seven NGC. Beyond this, we are also scouting for new land and we would like to focus our expansion in Malaysia. We will continue to grow,” he said.

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Kuan Mun Leong , Hartalega , gloves

   

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