Aspen Holdings Ltd has obtained approval for a manufacturing licence from Malaysia’s Ministry of International Trade and Industry for the production of nitrile medical grade examination gloves and natural rubber medical grade examination gloves, the company said in a statement today.
Its wholly owned subsidiary, Aspen Vision All Sdn Bhd, has agreed to participate in a joint venture arrangement with CMY Capital Sdn Bhd in which Aspen Glove Sdn Bhd will act as the special purpose vehicle for the operation of the proposed new business. For Phase 1B, AGSB intends to ramp up the capacity to 3.5 billion pieces of gloves a year by Q2’22. AGSB anticipates a further investment of RM40 million to complete Phase 1B.
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