We hear Anzo is roping in Main-Market listed timber, construction and property group Permaju Industries Bhd to expedite the plan and meet its current orders worth US$200 million.
It has been said earlier that Anzo has secured an order each from the United States and Europe to supply over 2 billion pieces of medical gloves, worth an estimated US$200 million.
Anzo and Permaju will form a joint venture to work on the refurbishment and the expansion of the plant, situated on 8 acres, to produce over 3 billion pieces of medical gloves/nitrile gloves a year.
The total number of cases in the United States is 3.22 million and infections continue to inch up in the country. The United States also recorded a total death toll of 135,822.
Europe and India are also badly hit by the global pandemic and the situation currently is that there is a shortage of medical gloves worldwide.
We believe that Anzo’s order book will double up soon as nations around the world are desperately hunting for new glove suppliers. This makes Anzo’s entry into glove manufacturing timely.
Malaysia, which is the world’s biggest producer of medical gloves, is supplying almost 70 per cent of world demand.
The top glove makers in Malaysia are Top Glove, Supermax, Kossan and Hartalega Holdings and their stocks have risen significantly since the beginning of the outbreak of the Covid-19 disease, hitting a new high this week.
We are watching Anzo and Permaju very closely as we think the stocks will surge following this news on the expansion and the bigger orders coming in for Anzo, which has been circulating in the market this week.
Anzo has jumped from below 5 sen last month to touch 23 sen this week, while Permaju rose from 24.5 sen on Monday to hit 36 sen two days ago.
Their trading volume is high and building up since morning despite a slow market today.
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