MSCM ventures into glove making, vaccine distribution

TheStar Sat, Sep 19, 2020 08:10am - 3 years View Original


In a filing with Bursa Malaysia this week, MSCM proposed a plan to raise cash of around RM123mil via a private placement of its shares for this purpose. The venture into the supply of vaccines and test-kits will be undertaken by its 51%-owned subsidiary HS Bio Supplies Sdn Bhd, the filing revealed. The remaining 49% stake in HS Bio is owned by MMAG Holdin

WHILE investors are still grappling whether to continue riding the glove mania or move on to potential coronavirus (Covid-19) vaccine plays, one company namely MSCM Holdings Bhd is venturing into both.

Fresh from announcing its venture into nitrile glove manufacturing, MSCM has crafted a plan to get involved in distributing vaccines and test kits related to Covid-19.

In a filing with Bursa Malaysia this week, MSCM proposed a plan to raise cash of around RM123mil via a private placement of its shares for this purpose. The venture into the supply of vaccines and test-kits will be undertaken by its 51%-owned subsidiary HS Bio Supplies Sdn Bhd, the filing revealed.

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