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Supermax Corp's unit to acquire land for RM73.48m

22nd September, 2020

KUALA LUMPUR: Supermax Corp Bhd’s unit, Maxter Glove Manufacturing Sdn Bhd has proposed the acquisition of two hectares of freehold land from Bandar Setia Alam Sdn Bhd for RM73.48 million.

The proposed acquisition of the two pieces of land is to build an operational headquarters for Maxter Glove Manufacturing, the rubber glove maker said in a filing to Bursa Malaysia on Monday.

It added that the construction would complement the group’s future operational needs.

The proposed acquisition does not have any effect on the share capital and substantial shareholders’ shareholdings of the company.

It is also not expected to have any material effect on the earnings per share, net assets per share and gearing of the company for the financial year ending June 30, 2021.

At lunch break, shares of Supermax declined 14 sen, or 1.84 per cent, to RM7.46 with 10.85 million shares transacted. –Bernama

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