KUALA LUMPUR (April 23): Mah Sing Group Bhd’s share price rose as much as 13 sen or 13.83% to RM1.07 in morning trade on Bursa Malaysia today after the property developer indicated yesterday its rubber glove factory in Klang is expected to start production in May 2021.
At 9.47am, the counter had pared some gains at RM1.04, still up 10 sen or 10.64%.
The counter, the second most actively traded stock so far today, had seen 153.04 million shares change hands.
It was reported yesterday that Mah Sing had completed the testing and commissioning of its two glove production lines in its first glove manufacturing factory, and the factory is expected to start production next month.
The property developer also anticipates the first shipment of gloves to be delivered in May and June.
Meanwhile, it expects an addition of four production lines to be operational in the second quarter of this year (2Q21), followed by six more production lines in 3Q21.
The group indicated that the 12 double former lines would have a maximum annual capacity of up to 3.68 billion pieces of gloves.