SCGM up 9.3% on PPE business foray

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KUALA LUMPUR (March 30): SCGM Bhd shares surged as much as 9.35% in morning trade today after the group announced plans to venture into making personal protective equipment (PPE), specifically protective face shields, in a bid to ride on the surge in demand for PPE products due to the Covid-19 outbreak.

At 10.30am, the thermoform food packaging manufacturer's share price was up 10 sen or 9.35% to RM1.17, with some 1.52 million shares changing hands.

The Edge Financial Daily reported that SCGM will focus on producing face shields with a quarter of its workforce involved in production at its newly-formed healthcare protection gear pipeline.

Its executive chairman Datuk Seri Lee Hock Seng said the company has ordered a machine to make face masks, and plans to move into mass production in mid-April. 

The company was also able to obtain non-woven fabric raw material.

Lee added the company had received massive orders from hospitals, both locally and in Singapore, and even a number of enquiries from other countries.

Read also: SCGM forays into making PPE