Iconic Worldwide on path to be global gloves & face masks manufacturer

NST Mon, Jan 17, 2022 10:20am - 2 years View Original


BATU KAWAN: Iconic Worldwide Bhd is on the right track to become a major gloves and face masks producer in the world in five years, having locked in mass orders from the United States, Europe, Africa and Asia.

Iconic Worldwide on Saturday opened its RM200 million manufacturing facility in Batu Kawan, Penang, marking its diversification from tourism and property development to the "new norm" business of examination glove and medical face mask manufacturing.

The facility launch by Penang Chief Minister Chow Kon Yeow came less than a month after Iconic Worldwide secured a 510 (k) premarket notification approval from the US Food and Drug Administration to distribute its medical-grade gloves throughout the United States. 

Six double former glove dipping lines have started running at the factory, and by March this year, a total of 12 double former glove dipping lines and 20 medical face mask production lines will be installed and commissioned.

The factory, which is built on 2.2 hectares, can produce a minimum of 3.3 billion pieces of nitrile examination gloves and 220 million pieces of medical grade face masks per annum.

Iconic Worldwide executive director James Tan said it had already locked in mass orders predominantly from the United States, Europe, Africa and Asia.

In the third and fourth quarters of the current financial year, Iconic Worldwide will ship out about 500 million pieces of nitrile gloves to the United States, Europe, Africa, Middle East and Southeast Asia. 

The sales will be partially factored into the group's financial year 2022 accounts, and fully realised in the financial year 2023.

Tan said the company would continue to expand its capacity as it aimed to capture more market share from the global demand for personal protective equipment (PPE), targeting export markets such as the United States, Europe, Africa and Middle East. 

"Iconic Worldwide remains bullish on the outlook for the glove and face mask manufacturing industry. The demand will be sustainable post pandemic as worldwide markets and leaders around the world are aware of the importance of PPE to prevent another pandemic outbreak. 

"While Iconic Worldwide is relatively new in the PPE manufacturing market, our international recognition and the overwhelming enquiries from potential customers, makes us one of the leading beneficiaries of this continued demand for PPE," he added.

Iconic Worldwide managing director Datuk Tan Kean Tet said a report by Arizton Advisory and Intelligence had forecast that the medical glove market size might reach US$18.56 billion by 2026, up from US$9.58 billion in 2020. 

"The global medical face mask market, according to Arizton, is expected to reach US$5.73 billion. The world continues to see an increase in demand for medical-grade gloves and face masks due to higher hygiene requirements, and as a manufacturer we see a huge opportunity for us," Tan said.

He said as Iconic Worldwide entered a new era where technology was more readily available than ever before, it had the opportunity to design the factory into being Industrial 4.0 ready where 80 per cent of manufacturing processes were automated. 

He added that this was necessary for the sustainability of the business in the long term due to the shortage of foreign labour issue now. 

Chow, in congratulating Iconic Worlwide, said it was key for business players in Malaysia to future-proof themselves by embracing cutting-edge technology such as Artificial Intelligence, the Internet of Things and robotics, among others. 

"Penang Digital Transformation Masterplan 2021-2023, which covers the four pillars of the economy, infrastructure, governance and community, will be instrumental in spearheading our technological leap forward. These digitalisation initiatives are important for us to leverage technology in achieving my Penang2030 Vision and to capture the numerous opportunities arising from the Digital Economy.

"With 50 years of industrial experience, Penang has built a strong base in electrical and electronics manufacturing, which acts as a springboard for diversification into other industries. Penang is seeing a continuous inflow of investment from medical device companies, including players in disposable and electronics-based products. Penang has one of the highest concentrations of MedTech companies in Malaysia and Southeast Asia, with over 50 medical device companies in the state," he added.

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