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LKL gets second contract to supply nitrile gloves (Indirect benefit to AT & FINTEC?)

Medical equipment provider LKL International Bhd has bagged a contract worth US$40 million (RM163 million) to supply nitrile examination gloves to Shang Hong International (Hong Kong) Ltd.

The contract is set to complete by December 2021, the group said in a statement today.

LKL said this is its second glove contract win following an earlier US$19 million sales contract secured from China-based Weihai Textile Group Import and Export Co Ltd in September.

The group said it has since made its first glove shipment of nitrile medical gloves to Weihai, with the balance glove shipments to be supplied progressively in due course.

"We have established a strong track record and network which enable us to meet the increasing demands due to the Covid-19 pandemic.

"We are also able to swiftly broaden our product portfolio to cater to present market requirements, with the new contract from Shang Hong and maiden delivery of nitrile medical gloves to Weihai a testament to our capabilities.

"Furthermore, we are also assisting export markets with their medical requirements, as seen in our increasing sales of medical beds to other countries," said LKL managing director Lim Kon Lian.

Meanwhile, in the domestic market, the group supplied medical beds and peripherals to government healthcare providers in Sabah from October to November, worth more than RM150,000.

From my understanding:
LKL managed to secure 2 contracts to supply nitrile examination gloves. In other word, this contract will indirectly be very beneficial to AT systematization berhad soon after they start producing gloves later on. In the case that AT systemization berhad is not able to cope up with the order, there is a good chance that AT will subcon it to FINTEC.

3rd December 2020
AT (0072): 0.185
LKL (0182): 0.96
Fintec (0150): 0.105

Reference:
https://www.theedgemarkets.com/article/lkl-gets-us40m-contract-supply-nitrile-gloves-hong-kongbased-com

https://klse.i3investor.com/blogs/rubberglove_y2023/2020-12-04-story-h1537414397-LKL_gets_second_contract_to_supply_nitrile_gloves_Indirect_benefit_to_A.jsp


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