Challenging times ahead for Careplus

PETALING JAYA: Careplus Group Bhd anticipates a challenging outlook for its glove business as it navigates through the low average selling prices, stiff competition and low utilisation rate.

It, however, remains optimistic about the longer-term prospects for the glove sector and new ventures including the electric vehicle and energy sectors.

In a filing with Bursa Malaysia, Careplus said it posted revenue of RM12.2mil and net loss of RM82.7mil, for the quarter ended June 30, 2023 due to a one-off impairment loss of RM78.7mil.