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KUALA LUMPUR (Dec 17): Mah Sing Group Bhd rose as much as 4.84% or 4.5 sen to an intra-morning high of 97.5 sen in a quick trade today after it said it was considering the price of its manufacturing division, which contains its new glove business, in Hong Kong.
At 10.07 a. M., had cut some gains to trade at 94.5 sen, still 1.5 sen or 1.61% higher, valuing the group at RM2.26 billion. 77.06 million shares were traded at the counter, more than double its 200-day average trading volume of 33.64 million shares.
It was ranked fifth on the list of the most active stocks in Bursa Malaysia.
Yesterday, Mah Sing CEO Datuk Steven Ng said the group is exploring the listing of its manufacturing division over the next five years.
The division comprises its existing plastics and glove businesses, and will also start producing other medical devices in the future.
Meanwhile, he said his glove business is expected to contribute 25% of net profit for the financial year ending December 31, 2021 (FY21).
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