Top Glove allocates RM150 mln for capex in 2015

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KUALA LUMPUR (Oct 2): Top Glove Corporation Bhd plans to set aside about RM150 million for capital expenditure in 2015, to be used mainly for a new factory and land acquisition to accommodate increased capacity.

"On top of that, we will also set aside some cash that serves the purpose of M&A (merger and acquisition),"  said Chairman Tan Sri Lim Wee Chai, without disclosing the amount.

Lim was speaking at a media briefing on the glove maker's performance for the fourth quarter of the financial year ended Aug 31, 2014.

More to follow ...