According to the VIZIONE’s Managing Director Datuk Ng Aun Hooi, VIZONE has intention to venture into glove making industry as they do not foresee any oversupply situation for the next two years.
The company need time to build their lines in this new venture. The difference is VIZIONE is acquiring an existing and operating glove factory in a time where the demand will stay high for the next two years. VIZIONE wants to catch this wave while it lasts as it wouldn’t be the same by 2024 or 2025.
The wholly-owned subsidiary of VIZIONE known as VIP Index Sdn Bhd has inked a head of agreement to purchase a 51% stake in SSN Medical Products Sdn Bhd for RM5 million of cash. SSN will manufacture for both latex and nitrile medical gloves, latex condoms as well as specialty gloves such as elbow length medical gloves. There is about 80% of its products are exported to China, United States and Europe.
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