KUALA LUMPUR (Feb 17): Rubber glove manufacturer HLT Global Bhd said today its securities trade has been suspended since 11:45am in conjunction with the signing of a high density triple former holder technology patent licence agreement involving HLT Global, AF Solution Sdn Bhd and Saravana Kumar Narayana.

"Trading in the securities will resume with effect from 2:30pm, Monday, Feb 17, 2020. Your attention is drawn to the company's announcement dated Feb 17 2020," HLT Global said in statements to Bursa Malaysia today.

Prior to the suspension, HLT Global shares were last traded 1.5 sen or 5.56% higher at 28.5 sen, which values the company at RM145.91 million.

HLT Global, which is principally involved in the design, installation, testing and commissioning of glove-dipping lines, said it has teamed up with AF Solution and Saravana, who is the inventor of the high density triple former holder assembly technology.

"To formalise the collaboration, HLT Global’s wholly-owned subsidiary HL Advance Technologies (M) Sdn Bhd has today signed a patent licence agreement with AF Solution and the inventor. The patent licence agreement grants exclusive rights to HL Advance Technologies to market and use the triple former holder technology," HLT Global said.

At a press conference after the signing ceremony in Petaling Jaya, Selangor, today, HLT Global executive director/chief executive officer Chan Yoke Chun said HLT Global foresees rising demand for rubber gloves, particularly from China due to the Covid-19 outbreak.

The company is negotiating with clients on new enquiries regarding HLT Global's products, said Chan, adding that, however, priority will be given to existing clients.

"We have various new enquiries, especially from China," she said.