Vizione joins the ‘glove rush’ with RM30mil capital expenditure

Vizione's Ng Aun Hooi: The group expects to inject RM300mil in capex to triple SSN's production capacity.

Vizione Holdings Bhd has become the latest to join the rush onto the glovemaking bandwagon, after it recently announced a proposed deal to pay RM5mil cash for a 51% majority stake in glovemaker SSN Medical Products Sdn Bhd.

The proposed deal also took into account SSN’s RM6.8mil net liability and RM1.4mil net loss for the eight months ended Aug 31, as per the company’s draft management accounts.