Mscm Holdings Invests Rm59 Mln For New Venture In Glove Business

PETALING JAYA, Aug 25 (Bernama) -- MSCM Holdings Bhd has allocated RM59 million in capital expenditure to kickstart its new business venture in glove making and appointed Honeywellcare Industries Sdn Bhd as its turnkey project partner. The company is currently involved in investment holdings, search and advertising, information technology, supply chain management, and money lending businesses. Executive chairman Teoh Hai Hin said the company aims to transform MSCM into a formidable listed company by expanding into various new pillars of business, namely hire purchase and leasing of trucks and machinery, manufacturing of gloves, and healthcare. “We have identified that this new venture will not only contribute positively to our earnings, but also complement our existing core segments extremely well,” he said in his speech before witnessing the signing ceremony between its wholly-owned subsidiary, Hong Seng Glove Sdn Bhd and Howellcare here Tuesday. -- BERNAMA