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*Important* Read this and think wisely.
Any affects on AT from termination of SSA for acquisition of Pearl Gloves Sdn Bhd?
There will both good and bad affects on AT.
Let’s start with good one.
1. AT already execute 680,000,000 private placement and raised almost RM80,000,000 to acquire Pearl Gloves Sdn Bhd.
2. What does that mean? AT will have a lot of cash on hand which is AT’s asset (NTA). Thus, AT can fully focus on its own gloves productions instead of spending millions on Pearl Gloves.
3. With the extra money saved from the acquisition, AT is expected to increase it owns production lines.
So, what is the bad affect?
1. Nothing bad will affects AT, but we will expect more haters come in to shout and call sell and they take the chance to collect.
Must understand why we buy AT! We buy AT not because of Pearl Gloves, but it’s own gloves productions which will start to run by next month! That’s why today AT very confident to issue Option under SIS at RM0.24.
AT already set up it’s own gloves factory in Chemor and the completion is almost 90%. They are expecting to kick off 1st production line by December 2020 which is next month and will run additional 2 production lines subsequently every month until June 2021 with a total of 13 production lines.
That’s why, AT needs 6months to build the lines, if AT includes Pearl gloves, why they need 6 months, they can straight announce next month 4 lines (1+3 from pearl gloves)
