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LKL, AT Systematization, Boustead, Techfast, Top Glove, Hartalega, Supermax and Kossan

KUALA LUMPUR (Nov 6): Based on corporate announcements and news flow today, companies in focus next week may include: LKL International Bhd, AT Systematization Bhd, Boustead Holdings Bhd, Techfast Holdings Bhd, Top Glove Corp Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd and Kossan Rubber Industries Bhd.

Medical and healthcare equipment provider LKL International Bhd has inked an agreement with AT Systematization Bhd to market, sell and distribute natural rubber latex gloves and nitrile gloves. In a joint statement today, the firms said the agreement is for an initial period of one year from the agreement date and renewable thereafter, in line with the expected commencement of AT subsidiary’s glove manufacturing in early December 2020.

Boustead Holdings Bhd said today that its managing director (MD) Datuk Seri Amrin Awaluddin will step down from his post on Nov 15 but gave no reason for his departure. In a statement, the diversified conglomerate said the board of directors has commenced the formal process of identifying a candidate for the position. In the interim, Boustead's management team will be managing the day-to-day operations of the group.

Techfast Holdings Bhd announced today that it has signed a letter of intent (LOI) to supply up to 6.45 million barrels of diesel gas oil worth an estimated RM1.14 billion. The company told the bourse that its subsidiary Fast Energy Sdn Bhd (FESB) signed the LOI with Zillion Oil Timor LDA, under which FESB will supply up to 6,436,800 barrels of diesel gas oil. The LOI is for three years, starting Jan 1, 2021 until Dec 31, 2023. The estimated contract value of RM1.14 billion is based on the present oil price.

The big four rubber glove makers Top Glove Corp Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd and Kossan Rubber Industries Bhd will be contributing RM400 million towards the fight against Covid-19, according to Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz.

During the tabling of Budget 2021, the minister said this donation will be used to partially cover the cost of Covid-19 vaccine, as well as expenses for health equipment.

Top Glove has confirmed it will be donating RM185 million to the fund, while Supermax will be chipping in RM75 million. Kossan and Hartalega will be contributing RM50 million and RM90 million respectively to the fund.

https://www.theedgemarkets.com/article/lkl-systematization-boustead-techfast-top-glove-hartalega-supermax-and-kossan

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