KUALA LUMPUR (Feb 6): Careplus Group Bhd's share price fell as much as 5.71% in morning trades today after the rubber glove manufacturer said yesterday it is selling a 50% stake in its wholly-owned subsidiary Careplus (M) Sdn Bhd (Careplus Malaysia) to Ansell Services (Asia) Sdn Bhd for about RM26.81 million.

At 10:10am today, Careplus Group was down two sen at 33 sen with some 23 million shares transacted. The counter was among Bursa Malaysia's most-active stocks.

"Upon completion of the proposed disposal and in accordance to the terms of the shareholders' agreement, Careplus Malaysia would cease to be a wholly-owned subsidiary of Careplus Group and become a 50% joint venture company of Careplus Group.

"The proposed joint venture will serve as an avenue for Careplus Group to grow Careplus Malaysia's business, leveraging on the knowledge and cooperation of Ansell, one of the global players for glove manufacturing in the market," Careplus Group said.