KUALA LUMPUR (Sept 27): Glove maker Rubberex Corp (M) Bhd’s shares will be traded under the new name of Hextar Healthcare Bhd from Thursday (Sept 29).

“The company’s stock code remains unchanged,” said Bursa Malaysia in a statement.

Rubberex had on Sept 14 received its shareholders’ nod for the group’s diversification into the healthcare business and change its name to Hextar Healthcare.

Shareholders also approved the group’s acquisition of test kits manufacturer Reszon Diagnostics International Sdn Bhd for RM180 million.

For the first half ended June 30, 2022 (1HFY22), Rubberex’s net profit dropped 96.95% to RM4.61 million, from RM151.23 million in the previous corresponding period, as revenue tumbled 71.87% to RM98.98 million from RM351.85 million, amid lower prices and low-capacity utilisation due to oversupply of nitrile disposable gloves in the market.

Rubberex shares finished 1.27% or half a sen higher at 40 sen on Tuesday (Sept 27), valuing the group at RM361.62 million. The counter, however, is down 21.67% year-to-date and lower by 35.48% over the past year.