Mah Sing Healthcare Sdn Bhd (Mah Sing Healthcare) has received its business license along with other relevant permits to commence its glove manufacturing factory operation in Kapar, Klang.
The first shipment of gloves is expected to be delivered in between May and June 2021.
The Group has secured sufficient raw materials to meet orders and interests from its buyers and distributors, which are mainly serving markets such as the United States, Canada, Middle East, Europe, United Kingdom, Japan, China, Korea, Singapore, Russia and Latin America.
In addition, Mah Sing Healthcare has also received the export license from the Malaysian Rubber Board, which would facilitate the export business for the Group’s glove manufacturing operation.
Mah Sing Healthcare has obtained 2 FDA Establishment Licenses for Polymer Nitrile Patient Examination Glove and Latex Patient Examination Glove from the US Food & Drug Administration (FDA), which all glove manufacturers are required to register in order to sell gloves in the US.
The company is also optimistic is in its process of obtaining FDA 510(k) Premarket Notification and the Conformitè Europëenne (CE) Marking for export to the US and European markets respectively.
Execution of the glove venture is on schedule as there will be six production lines on track to be operational in 2Q2021, followed by another six production lines in 3Q2021. The maximum production capacity of 12 lines is up to 3.68 billion pieces of gloves per annum.
These 12 units of new, high speed glove dipping machines – producing at a speed of 38,000 pieces of gloves per production line per hour are under Phase 1 of Mah Sing’s glove manufacturing business.
If demand continues to outstrip supply, Mah Sing would expand Phase 2 – which consists of another 12 glove production lines. Phase 2 will increase the capacity up to another 3.68 billion pieces of gloves per annum, doubling the initial production capacity.
The Group has set a higher sales target of RM1.6 billion for the entire 2021, with 91 percent of products priced below RM700,000, and 51 percent below RM500,000.
It recorded RM250 million new property sales for January and February 2021, and bookings momentum since March 2021 has also picked up substantially.
Mah Sing has been actively scouting for good land, with 2 new acquisitions in 2021 so far. On 4 May 2021, it announced the acquisition of approximately 5-acre prime land in Setapak to be developed into M Astra, which has an estimated gross development value (GDV) of approximately RM618million.
