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The glovemaker said on Thursday it is amongst 18 companies worldwide, and one out of two companies in Malaysia to be added into the MSCI Global Standard Indexes under MSCI Malaysia Index.

KUALA LUMPUR: Supermax Corporation Bhd, whose share price had surged multi-fold due to the demand for gloves during the Covid-19 pandemic, will be added into the MSCI Global Standard Indexes as of close of Aug 31.

The glovemaker said on Thursday it is amongst 18 companies worldwide, and one out of two companies in Malaysia to be added into the MSCI Global Standard Indexes under MSCI Malaysia Index.

Three largest additions to the MSCI Global Standard Indexes under MSCI World Index include P G & E Corp (USA), Peloton Interactive A (USA) and Zscaler (USA).

The three largest additions to the MSCI Emerging Markets Index will be Postal Savings A (Hk-C) (China), Beijing Shanghai A (HkC) (China) and Yandex A (Russia).

Supermax said it adopts the own brand manufacturing (OBM) model whereby it manufactures the products, package and market under its in-house brands.

It exports 55% of production under itsown brands via our its distribution centres and 40% through independent distributors. The remaining 5% is for OEM production.

“Our products are sold to over 165 countries, the largest contributor being the Americas region which contributed 51% of revenue in FYE2020, ” it said. Asia/Oceania and Europe each contributed 23% to FYE2020 revenue.

“In terms of capacity expansion, we have put in place expansion plans of building total of five glove manufacturing plants between now and until year 2022 with additional production capacity of 22.25 billion making total of 48.42 billion gloves by end of year 2022.

“The Supermax Group would invest total capital expenditure of RM1.3bil for the new plants, ” it said.

Supermax's share price closed 60 sen higher at RM19.48.


https://www.thestar.com.my/business/business-news/2020/08/13/supermax-to-be-included-in-msci-global-indexes-on-aug-31
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