KUALA LUMPUR (Sept 14): LKL International Bhd has finally revealed the identity of the Chinese company that granted it the RM78.5 million nitrile glove supply contract.
“Further to the company's announcements made on Sept 2 and Sept 7, 2020 in relation to the sales contract awarded to LKLAM (LKL Advance Metaltech Sdn Bhd) for the supply of nitrile gloves, the board of directors of LKL International wishes to announce that the name of the customer is Weihai Textile Group Import and Export Co, Ltd,” said LKL in a bourse filing.
The announcement came after the company was queried by Bursa Malaysia for more details of the RM78.5 million nitrile glove supply contract.
Last Monday, the hospital furniture manufacturer said it could not reveal the name of the Chinese firm to which it is supplying nitrile gloves as the latter denied the request to identify it.
On Sept 2, 2020, LKL had announced that its wholly-owned subsidiary LKLAM had been awarded an US$18.96 million or RM78.49 million sales contract to supply nitrile gloves.
LKL’s share price shot up in tandem with the rebound on glove makers. The stock soared nearly 26% or 26 sen to close at RM1.27 today, valuing it at some RM544.48 million. It saw 124.68 million shares traded.