KUALA LUMPUR: Shares in Mah Sing Group Bhd jumped over 10% on news that its glove operations will commence next month.
The developer, one of the top gainers on Bursa Malaysia, rose 10.64%, or 10 sen to RM1.04. It is the second most actively traded counter with over 122 million shares done.
Mah Sing-C32 surged 55.56%, or 2.5 sen to seven sen with 46 million shares traded.
Mah Sing has completed the testing and commissioning of its first two glove production lines in its first glove factory in Kapar, Klang, and is expected to start operation in May 2021.
The group anticipates the first shipment of gloves to be delivered in May and June.
The glove manufacturing venture will complement its existing property division as the property market is cyclical and it focuses more on the domestic market, it said.
The company said it is on track to see another four production lines to be operational in 2Q2021 and followed by another six production lines in the third quarter.