KUALA LUMPUR: Shares in Fintec Global Bhd rose over 6% in early trade on Thursday following an agreement to supply gloves in Europe.
The counter added 6.67%, or 0.5 sen to eight sen. It is currently the second most active counter on Bursa Malaysia with 54.3 million shares traded. Fintec-WB rose 20%, or 0.5 sen to three sen.
Fintec’s unit, Fintec Glove Sdn Bhd, had reached an agreement with Robayu Corporation to ink a memorandum of agreement to supply medical grade gloves in Europe.
Robayu will act as the official agent and exclusive distributor of medical grade nitrile gloves in Poland and Eastern Europe.
Fintec said the agreement entailed the supply of 12 feet by 40 feet container loads of medical grade nitrile examination gloves per month from the third quarter of 2021.
"Two production lines will be secured for Robayu with an estimated 39.93 million gloves produced monthly, or 479.23 million of gloves production on an annual basis," it added.