Revival of glove maker WRP Asia Pacific under way

Founder and managing partner of Thomas Philip, Mathew Thomas Philip said: “WRP Asia Pacific has promising business prospects and there are thousands of employees whose livelihood depends on the company."

KUALA LUMPUR: WRP Asia Pacific is expected to be given a new lease of life with TAEL Partners, a private equity fund, and the current board of directors (BoD) launch the rescue plan for the embattled glove maker.

Thomas Philip Advocates and Solicitors, the legal firm acting on behalf of the current BoD, had arranged for an emergency shareholders' injection by TAEL Partners, a private equity fund, of RM3.25mil.