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TPP targetted to be signed in March 2018



Malaysia has welcomed a breakthrough among trade negotiators of the remaining 11 countries of the Trans-Pacific Partnership in Tokyo, clearing the way for a revised agreement to be signed in early March 2018
International Trade and Industry Minister Datuk Seri Mustapa Moha­med said the free trade agreement, now known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), is a high-quality agreement with a combined GDP worth US$11 trillion (RM42.9 trillion), covering a 476 million population and a 15% share of global trade volume.
“The signing of this agreement will be a significant boost to global trade and open doors for Malay­sian companies to expand their presence in the overseas market."
“We expect additional jobs to be created as a result of further investments that will come due to the improved trading and investing environment under the CPTPP. We are satisfied with the outcome of this meeting and our negotiators have once again successfully defended Malaysia’s interests,” Mus­­­ta­pa said in a statement.
The signing of the deal will be done without the United States, which has abandoned it under President Donald Trump.
The CPTPP involves Australia, Bru­­nei, Canada, Chile, Japan, Malay­sia, Mexico, New Zealand, Peru, Singapore and Vietnam.
The agreement will incorporate all commitments from the original TPP, except for a limited number of provisions suspended temporarily and some remaining issues to be finalised.
Mustapa listed four issues, including Malaysia’s request for additional flexibility for the oil and gas sector under state-owned enterprises chapter, which were resolved.
“Malaysia’s request for additional flexibility to conduct preferential purchases for the upstream oil and gas sector will now commence on the date of entry instead of the date of signing."
“The other issues (involving other countries) are market access for the coal industry, trade sanctions related to dispute settlement and exception to cultural industries."
“Before the Tokyo meeting, there were 20 provisions that will be suspended under the CPTPP."
“The suspension would mean that these provisions will not be implemented until all CPTPP mem­ber countries agree to lift this suspension.
“The Tokyo meeting has agreed to add two more suspensions into the list – making it a total of 22 suspensions. One of them was on the additional flexibility for Malaysia in the oil and gas sector, after the relentless pursuit and consistent fight put forth by our negotiating team on this matter. The other one was on market access for Brunei’s coal industry,” the statement added.
According to Japanese media reports, nearly two-dozen stipulations sought by the US in the original TPP deal were shelved after Washington withdrew.

Some members sought easier terms on labour rights and state-owned companies, but it’s unclear how far the changes will go in watering down what was proclaimed by the Obama administration to be a “gold standard” for 21st century trade rules.
Japan’s top trade negotiator, Toshimitsu Motegi, said he hoped to expand the membership of the TPP and encourage a US return to the pact.
/theSTAR 25-01-2018
 
Disclaimer: Views or opinions expressed are solely those of the Author and should be used with discretion. The Author shall not be held liable for any acts or omissions arising from the use of the information. The user will be personally liable for any damages or other liability arising hereof.


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Compulsory Licensing: Hepatitis C



The international community acknowledged Malaysia for being the first nation to invoke compulsory licensing allowing hepatitis C patients to gain access to affordable medicine.
The country was awarded the Leadership Award in Intellectual Property and Access to Medicines.
The Government received the award at the Global Summit of Intellectual Property and Access to Medicines in Morocco on Monday, said Health Director General Datuk Dr Noor Hisham Abdullah.
“A pride to the nation. Malaysia is a trailblazer when it comes to access to medicine for hepatitis C. Congra­tulations to Dr Salmah Bahri and team,” he said.
The summit was organised by the International Treatment Prepared­ness Coalition (ITPC).
It brings together community representatives, governments, civil society, academics, experts and international agencies to look at the impact of international trade rules on public health.
It also highlighted the role of NGOs and patients in the implementation flexibilities of Trade-Related Aspects of Intellectual Property (TRIPS).
In July, The Star carried a front page story highlighting the plight of about 400,000 Malaysians who suffered from hepatitis C, with only a fraction of whom can afford the medication that can cost up to RM300,000 for the full course of treatment.
Malaysia is not given special prices for the newer drugs by pharmaceutical companies because it is considered a middle-income country.
The Health Ministry has teamed up with the Drugs for Neglected Diseases Institute to come up with an affordable cure.
In the meantime, patients have to fork out huge sums for medication, try to get into clinical trials for other potential cures or seek treatment in other countries.
Subsequently, the Cabinet gave approval to issue a government-use licence to enable the import of generic versions of the hepatitis C drug Sofosbuvir.
Even if medicine is patented for 20 years, the Government has the right to issue compulsory licensing under the rights, flexibilities and safeguards vested to World Trade Organisation members by the agreement on TRIPS.
Governments can issue a compulsory licence to authorise a local import company to bring in the generic drug or to manufacture it itself by a local generic company.
The government-use licence is only applied for drugs to be used in government health facilities.
The Patents Act comes under the purview of the Intellectual Property Corporation of Malaysia (known as MyIPO) of the Domestic Trade, Cooperatives and Consumerism Ministry.

 /theSTAR 18-01-2018


Disclaimer: Views or opinions expressed are solely those of the Author and should be used with discretion. The Author shall not be held liable for any acts or omissions arising from the use of the information. The user will be personally liable for any damages or other liability arising hereof.


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Caring Pharmacy - Foreign interest?



Bhd, the local pharmaceutical retail chain with 110 outlets in the country, is said to have attracted the interest of a South Korean foreign equity firm.
Sources said the private equity firm that has interest primarily in companies with a specialised retail chain was keen on taking up a substantial block of shares in Caring Phamarcy.
“What Caring Pharmacy offers is its 110 outlets, growing presence in the most populated areas in Peninsular Malaysia and principal rights to distribute some pharmaceutical and personalised healthcare products,” said a source.
Caring Pharmacy recorded a profit after tax of RM17.79mil on the back of turnover of RM460mil for the financial year ended May 31, 2017. The profit was an improvement of 50% compared to the RM8.55mil recorded in the corresponding period last year.
In the first quarter this year, Caring Pharmacy recorded a profit after tax of RM4.33 mil, which is a vast improvement compared to the RM1.1 mil recorded last year.
The company attributed the growth in its bottom line to the increase in same-store sales from its existing chain of outlets.
Caring Pharmacy is a retail chain established in 1994 by five pharmacists from Universiti Sains Malaysia. It is the fastest-growing pharmaceutical retail chain and expected to open between 10 and 12 stores in 2018.
It is not known if the South Korean private equity arm is looking at buying new equity or taking up some existing shares.
The entry of a private equity fund into Caring Pharmacy should strengthen its existing portfolio of shareholders.
The major shareholder of Caring Pharmacy is Motivasi Optima Sdn Bhd that owns 50.35% equity interest in the pharmacy chain. The shareholders of Motivasi Optima are Chan Yew Siang, Soo Chan Chiew, Tan Lee Boon and Ang Khoon Lim.
The second largest shareholder is Permodalan Nasional Bhd with 12.76% stake.
Berjaya Group’s Tan Sri Vincent Tan used to be a substantial shareholder through Jitumaju Sdn Bhd. However, Jitumaju ceased to be a substantial shareholder in February this year.
“If the South Korean firm takes up a substantial stake in Caring Pharmarcy, it will lend credence to its ability to attract shareholders with a medium to long-term approach to the company,” said an industry source.
On the local scene, Caring Pharmacy is fast catching up to its peers by adopting an active approach in maximising the locations of its stores compared to its competitors that have a larger chain of stores.
For instance, in the financial year ended May 2017, it closed eight underperforming outlets and opened a similar number in other locations. It also relocated one of its stores.

Read more at https://www.thestar.com.my/business/business-news/2018/01/02/caring-pharmacy-draws-interest/#xcCOJzPVhwi72ScJ.99
Bhd, the local pharmaceutical retail chain with 110 outlets in the country, is said to have attracted the interest of a South Korean foreign equity firm.
Sources said the private equity firm that has interest primarily in companies with a specialised retail chain was keen on taking up a substantial block of shares in Caring Phamarcy.
“What Caring Pharmacy offers is its 110 outlets, growing presence in the most populated areas in Peninsular Malaysia and principal rights to distribute some pharmaceutical and personalised healthcare products,” said a source.
Caring Pharmacy recorded a profit after tax of RM17.79mil on the back of turnover of RM460mil for the financial year ended May 31, 2017. The profit was an improvement of 50% compared to the RM8.55mil recorded in the corresponding period last year.
In the first quarter this year, Caring Pharmacy recorded a profit after tax of RM4.33 mil, which is a vast improvement compared to the RM1.1 mil recorded last year.
The company attributed the growth in its bottom line to the increase in same-store sales from its existing chain of outlets.
Caring Pharmacy is a retail chain established in 1994 by five pharmacists from Universiti Sains Malaysia. It is the fastest-growing pharmaceutical retail chain and expected to open between 10 and 12 stores in 2018.
It is not known if the South Korean private equity arm is looking at buying new equity or taking up some existing shares.
The entry of a private equity fund into Caring Pharmacy should strengthen its existing portfolio of shareholders.
The major shareholder of Caring Pharmacy is Motivasi Optima Sdn Bhd that owns 50.35% equity interest in the pharmacy chain. The shareholders of Motivasi Optima are Chan Yew Siang, Soo Chan Chiew, Tan Lee Boon and Ang Khoon Lim.
The second largest shareholder is Permodalan Nasional Bhd with 12.76% stake.
Berjaya Group’s Tan Sri Vincent Tan used to be a substantial shareholder through Jitumaju Sdn Bhd. However, Jitumaju ceased to be a substantial shareholder in February this year.
“If the South Korean firm takes up a substantial stake in Caring Pharmarcy, it will lend credence to its ability to attract shareholders with a medium to long-term approach to the company,” said an industry source.
On the local scene, Caring Pharmacy is fast catching up to its peers by adopting an active approach in maximising the locations of its stores compared to its competitors that have a larger chain of stores.
For instance, in the financial year ended May 2017, it closed eight underperforming outlets and opened a similar number in other locations. It also relocated one of its stores.

Read more at https://www.thestar.com.my/business/business-news/2018/01/02/caring-pharmacy-draws-interest/#xcCOJzPVhwi72ScJ.99
Caring Pharmacy Group Bhd, the local pharmaceutical retail chain with 110 outlets in Malaysia, had attracted the attention of a South Korean foreign equity firm with interest in specialised retail chain.

“What Caring Pharmacy offers is its 110 outlets, growing presence in the most populated areas in Peninsular Malaysia and principal rights to distribute some pharmaceutical and personalised healthcare products,” said a source.


Caring Pharmacy recorded a profit after tax of RM 17.79 mil on a turnover of RM 460 mil for the financial year ended May 31, 2017. The profit was an improvement of 50% compared to the RM 8.55 mil recorded in the corresponding period last year.

In the first quarter this year, Caring Pharmacy recorded a profit after tax of RM 4.33 mil, which is a vast improvement compared to the RM 1.1 mil recorded last year.

The company attributed the growth in its bottom line to the increase in same-store sales from its existing chain of outlets.

Caring Pharmacy is a retail chain established in 1994 by five pharmacists from Universiti Sains Malaysia. It is the fastest-growing pharmaceutical retail chain and expected to open between 10 and 12 stores in 2018.

It is not known if the South Korean private equity arm is looking at buying new equity or taking up some existing shares.

The entry of a private equity fund into Caring Pharmacy should strengthen its existing portfolio of shareholders.

The major shareholder of Caring Pharmacy is Motivasi Optima Sdn Bhd that owns 50.35% equity interest in the pharmacy chain. The shareholders of Motivasi Optima are Chan Yew Siang, Soo Chan Chiew, Tan Lee Boon and Ang Khoon Lim.

The second largest shareholder is Permodalan Nasional Bhd with 12.76% stake.

Berjaya Group’s Tan Sri Vincent Tan used to be a substantial shareholder through Jitumaju Sdn Bhd. However, Jitumaju ceased to be a substantial shareholder in February, 2017

“If the South Korean firm takes up a substantial stake in Caring Pharmarcy, it will lend credence to its ability to attract shareholders with a medium to long-term approach to the company,” said an industry source.

On the local scene, Caring Pharmacy is fast catching up to its peers by adopting an active approach in maximising the locations of its stores compared to its competitors that have a larger chain of stores.
For instance, in the financial year ended May 2017, it closed eight under performing outlets and opened a similar number in other locations. It also relocated one of its stores.

/theSTAR 02-01-2018
Bhd, the local pharmaceutical retail chain with 110 outlets in the country, is said to have attracted the interest of a South Korean foreign equity firm.
Sources said the private equity firm that has interest primarily in companies with a specialised retail chain was keen on taking up a substantial block of shares in Caring Phamarcy.
“What Caring Pharmacy offers is its 110 outlets, growing presence in the most populated areas in Peninsular Malaysia and principal rights to distribute some pharmaceutical and personalised healthcare products,” said a source.
Caring Pharmacy recorded a profit after tax of RM17.79mil on the back of turnover of RM460mil for the financial year ended May 31, 2017. The profit was an improvement of 50% compared to the RM8.55mil recorded in the corresponding period last year.
In the first quarter this year, Caring Pharmacy recorded a profit after tax of RM4.33 mil, which is a vast improvement compared to the RM1.1 mil recorded last year.
The company attributed the growth in its bottom line to the increase in same-store sales from its existing chain of outlets.
Caring Pharmacy is a retail chain established in 1994 by five pharmacists from Universiti Sains Malaysia. It is the fastest-growing pharmaceutical retail chain and expected to open between 10 and 12 stores in 2018.
It is not known if the South Korean private equity arm is looking at buying new equity or taking up some existing shares.
The entry of a private equity fund into Caring Pharmacy should strengthen its existing portfolio of shareholders.
The major shareholder of Caring Pharmacy is Motivasi Optima Sdn Bhd that owns 50.35% equity interest in the pharmacy chain. The shareholders of Motivasi Optima are Chan Yew Siang, Soo Chan Chiew, Tan Lee Boon and Ang Khoon Lim.
The second largest shareholder is Permodalan Nasional Bhd with 12.76% stake.
Berjaya Group’s Tan Sri Vincent Tan used to be a substantial shareholder through Jitumaju Sdn Bhd. However, Jitumaju ceased to be a substantial shareholder in February this year.
“If the South Korean firm takes up a substantial stake in Caring Pharmarcy, it will lend credence to its ability to attract shareholders with a medium to long-term approach to the company,” said an industry source.
On the local scene, Caring Pharmacy is fast catching up to its peers by adopting an active approach in maximising the locations of its stores compared to its competitors that have a larger chain of stores.
For instance, in the financial year ended May 2017, it closed eight underperforming outlets and opened a similar number in other locations. It also relocated one of its stores.

Read more at https://www.thestar.com.my/business/business-news/2018/01/02/caring-pharmacy-draws-interest/#dcPr8CMfLlVhqe05.99
Bhd, the local pharmaceutical retail chain with 110 outlets in the country, is said to have attracted the interest of a South Korean foreign equity firm.
Sources said the private equity firm that has interest primarily in companies with a specialised retail chain was keen on taking up a substantial block of shares in Caring Phamarcy.
“What Caring Pharmacy offers is its 110 outlets, growing presence in the most populated areas in Peninsular Malaysia and principal rights to distribute some pharmaceutical and personalised healthcare products,” said a source.
Caring Pharmacy recorded a profit after tax of RM17.79mil on the back of turnover of RM460mil for the financial year ended May 31, 2017. The profit was an improvement of 50% compared to the RM8.55mil recorded in the corresponding period last year.
In the first quarter this year, Caring Pharmacy recorded a profit after tax of RM4.33 mil, which is a vast improvement compared to the RM1.1 mil recorded last year.
The company attributed the growth in its bottom line to the increase in same-store sales from its existing chain of outlets.
Caring Pharmacy is a retail chain established in 1994 by five pharmacists from Universiti Sains Malaysia. It is the fastest-growing pharmaceutical retail chain and expected to open between 10 and 12 stores in 2018.
It is not known if the South Korean private equity arm is looking at buying new equity or taking up some existing shares.
The entry of a private equity fund into Caring Pharmacy should strengthen its existing portfolio of shareholders.
The major shareholder of Caring Pharmacy is Motivasi Optima Sdn Bhd that owns 50.35% equity interest in the pharmacy chain. The shareholders of Motivasi Optima are Chan Yew Siang, Soo Chan Chiew, Tan Lee Boon and Ang Khoon Lim.
The second largest shareholder is Permodalan Nasional Bhd with 12.76% stake.
Berjaya Group’s Tan Sri Vincent Tan used to be a substantial shareholder through Jitumaju Sdn Bhd. However, Jitumaju ceased to be a substantial shareholder in February this year.
“If the South Korean firm takes up a substantial stake in Caring Pharmarcy, it will lend credence to its ability to attract shareholders with a medium to long-term approach to the company,” said an industry source.
On the local scene, Caring Pharmacy is fast catching up to its peers by adopting an active approach in maximising the locations of its stores compared to its competitors that have a larger chain of stores.
For instance, in the financial year ended May 2017, it closed eight underperforming outlets and opened a similar number in other locations. It also relocated one of its stores.

Read more at https://www.thestar.com.my/business/business-news/2018/01/02/caring-pharmacy-draws-interest/#dcPr8CMfLlVhqe05.99

Disclaimer: Views or opinions expressed are solely those of the Author and should be used with discretion. The Author shall not be held liable for any acts or omissions arising from the use of the information. The user will be personally liable for any damages or other liability arising hereof.


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Philippines: Probe into Sanofi dengue vaccine



The Philippines ordered a probe on Monday into the immunisation of more than 730,000 children with a vaccine for dengue that has been suspended following an announcement by French drug company Sanofi that it could worsen the disease in some cases.

A non-governmental organisation in the Philippines said it had received information that three children who were vaccinated with Dengvaxia in April 2016 had died, but Sanofi said no deaths had been reported as a result of the programme. "As far as we know, as far as we are made aware, there are no reported deaths that are related to dengue vaccination," Ruby Dizon, medical director at Sanofi Pasteur Philippines, told a news conference in Manila.

Last week, the Philippines' Department of Health halted the use of Dengvaxia after Sanofi said it must be strictly limited due to evidence it can worsen the disease in people not previously exposed to the infection.

In a statement issued in the Philippines, Sanofi explained the "new findings" but said the long-term safety evaluation of the vaccines showed significantly fewer hospitalisations due to dengue in vaccinated people over 9 years old compared with those who had not been vaccinated.

Nearly 734,000 children aged 9 and over in the Philippines have received one dose of the vaccine as part of a programme that cost 3.5 billion pesos ($69.54 million).

The Department of Justice on Monday ordered the National Bureau of Investigation (NBI) to look into "the alleged danger to public health ... and if evidence so warrants, to file appropriate charges thereon." There was no indication that Philippines health officials knew of any risks when they administered the vaccination.

However, the World Health Organization said in a July 2016 paper that "vaccination may be ineffective or may theoretically even increase the future risk of hospitalised or severe dengue illness in those who are seronegative at the time of first vaccination regardless of age."

Singapore's Health Sciences Authority said last week that it flagged risks when the vaccine was approved there in October 2016, and was working with Sanofi to strengthen risk warnings on the drug's packaging.

According to Sanofi in Manila, 19 licences were granted for Dengvaxia, and it was launched in 11 countries, only two of which – the Philippines and Brazil – had public programmes to administer the vaccine.

Dengue is a mosquito-borne tropical disease. Although it is not as serious as malaria, it is spreading rapidly in many parts of the world, killing about 20,000 people a year and infecting hundreds of millions.

While Sanofi's Dengvaxia is the first-ever approved vaccine for dengue, scientists already recognised it was not perfect and did not protect equally against the four different types of the virus in clinical tests.

A new analysis from six years of clinical data showed that Dengvaxia vaccine provides persistent protective benefit against dengue fever in those who had prior infection. But for those not previously infected by the virus, more cases of severe disease could occur in the long term following vaccination upon a subsequent dengue infection.

/theSTAR 04-12-2017

 Disclaimer: Views or opinions expressed are solely those of the Author and should be used with discretion. The Author shall not be held liable for any acts or omissions arising from the use of the information. The user will be personally liable for any damages or other liability arising hereof.


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Malaysia: Latest on Dengvaxia



The world’s first dengue vaccine Dengvaxia may have negative long-term effects on those who have never had a prior dengue infection, says Health Ministry Director General Datuk Dr Noor Hisham Abdullah.

He said a six-year clinical study found that although the vaccine was effective for those with a prior dengue infection, it was not so for those who had never been infected.

Dr Noor Hisham stressed that the Drug Control Authority is careful in the approval process of any pharmaceutical product registration.

“The Dengvaxia vaccine is not yet sold or used at any health facilities in Malaysia, be it in the public sector or in the private sector,” he said in a statement yesterday. “The product has also not been included as part of the Health Ministry’s National Immunisation Programme (NIP).”

His statement came in response to the suspension of Dengvaxia by the Philippines, which has vaccinated more than 700,000 children with Dengvaxia since 2016.

The Philippines is among the countries, including Mexico, El Salvador, Brazil, Singapore and Costa Rica, where Dengvaxia has been approved for marketing.

On Wednesday, French manufacturer Sanofi Pasteur disclosed that those who had never been infected with dengue could develop a more severe case if given the vaccine and had a subsequent infection.

Dr Noor Hisham said the Drug Control Authority has only approved a conditional registration in November last year for a two-year clinical study on the efficacy and safety of the drug.

“It is vital that the vaccines and medicines that Malaysians use are safe, effective and of good quality,” said Dr Noor Hisham, adding that no individuals have tried using Dengvaxia in Malaysia so far.

He also urged the public to check if a pharmaceutical product is registered by checking its hologram seal and that it is labelled with a legitimate product registration number.

The registration status of the pharmaceutical product could be checked on http://npra.moh.gov.my.

Sanofi Pasteur global medical head Dr Su-Peing Ng said they are working with health authorities to ensure that prescribers, vaccinators and patients are “fully informed of the new findings”.

“Sanofi will propose that national regulatory agencies update the prescribing information, known as the label in many countries, requesting that healthcare professionals assess the likelihood of prior dengue infection in an individual before vaccinating,” the statement read.
 
/theSTAR 03-12-2107

Disclaimer: Views or opinions expressed are solely those of the Author and should be used with discretion. The Author shall not be held liable for any acts or omissions arising from the use of the information. The user will be personally liable for any damages or other liability arising hereof.


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Top Glove to purchase Aspion



 says the plan to buy surgical glove maker Aspion Sdn Bhd for at least RM1.3bil will boost the group’s profits by a fifth in the financial year ending Aug 31, 2018 (FY18) and accelerate the group’s expansion into the highly lucrative segment of the market.
As it is, Aspion commands a healthy 30% gross profit margin on its business, while Top Glove’s own smaller surgical glove unit generates about 20% gross profit from sales.
“We expect to sign the sale and purchase agreement next month and the completion of the acquisition is targeted for February 2018,” Top Glove’s founder and executive chairman Tan Sri Lim Wee Chai said.
“Aspion is expected to contribute around 20% of profits and revenue to Top Glove,” he told StarBiz yesterday.
Top Glove has a 12% global market share in this segment, producing 665 million pieces a year. The surgical glove segment, prior to the acquisition, contributed about 5% of Top Glove’s revenue.
“The acquisition will make Top Glove the largest exporter of surgical gloves in Malaysia, with a production capacity of 1.8 billion pieces in FY18 and become the world’s largest surgical glove manufacturer,” Lim said.
Top Glove made a net profit of RM332mil for FY17 ended Aug 31, the company said last month.
The market is projecting the company to make around RM400mil in FY18, based on consensus estimates after the deal was announced last Friday.
Top Glove had earlier said it had entered into a term sheet with Adventa
 Capital Pte Ltd to buy Aspion in a deal worth between RM1.3bil and RM1.4bil.
Aspion has provided a profit after tax guarantee of RM80mil for the year ending Oct 31, 2018.
Aspion is wholly owned by Adventa Capital Pte Ltd, whose major shareholders are Low Chin Guan and Singapore-based private equity fund Southern Capital Group Pte Ltd.
“Low, the major shareholder of Aspion, will continue to manage Aspion’s surgical glove business segment and we intend to offer him a key position in the group,” said Lim.
Aspion’s Kulim plant houses the company’s most recent technology and research and development centre. It also has manufacturing facilities in Kluang, Johor and Kota Bahru, Kelantan, catering mainly for examination gloves.
Aspion owns cutting-edge technology, namely, its Finessis surgical glove which is known to be the only technology capable of reducing the number of viruses (such as HIV) transferred in cases of percutaneous injury.
The news of the proposed acquisition of Aspion is not surprising, as the market has been anticipating it since Lim mentioned a month ago that the company would be announcing a major acquisition that could possibly cost more than RM1bil.
And he has made it clear that Top Glove has been on the lookout for mergers and acquisitions (M&As) for the last several years.
“We have been exploring non-listed glove players for a long time as part of our M&A expansion plans.
“However, some (companies) are not ready to do it.
“As for Aspion, most of our discussions were arrived at two months ago and it is a profitable company with presence in western Europe, the United States and Japan,” Lim noted, adding that this complemented Top Glove’s business, as it was present mostly in the emerging markets.
Top Glove shares closed up 10 sen or 1.48% to RM6.85 yesterday, with 5.91 million shares being traded. At this price, the company is worth RM8.6bil.

Read more at https://www.thestar.com.my/business/business-news/2017/11/28/aspion-profit-boost-for-top-glove/#UoJJiCzqj9vyCUZD.99
 says the plan to buy surgical glove maker Aspion Sdn Bhd for at least RM1.3bil will boost the group’s profits by a fifth in the financial year ending Aug 31, 2018 (FY18) and accelerate the group’s expansion into the highly lucrative segment of the market.
As it is, Aspion commands a healthy 30% gross profit margin on its business, while Top Glove’s own smaller surgical glove unit generates about 20% gross profit from sales.
“We expect to sign the sale and purchase agreement next month and the completion of the acquisition is targeted for February 2018,” Top Glove’s founder and executive chairman Tan Sri Lim Wee Chai said.
“Aspion is expected to contribute around 20% of profits and revenue to Top Glove,” he told StarBiz yesterday.
Top Glove has a 12% global market share in this segment, producing 665 million pieces a year. The surgical glove segment, prior to the acquisition, contributed about 5% of Top Glove’s revenue.
“The acquisition will make Top Glove the largest exporter of surgical gloves in Malaysia, with a production capacity of 1.8 billion pieces in FY18 and become the world’s largest surgical glove manufacturer,” Lim said.
Top Glove made a net profit of RM332mil for FY17 ended Aug 31, the company said last month.
The market is projecting the company to make around RM400mil in FY18, based on consensus estimates after the deal was announced last Friday.
Top Glove had earlier said it had entered into a term sheet with Adventa
 Capital Pte Ltd to buy Aspion in a deal worth between RM1.3bil and RM1.4bil.
Aspion has provided a profit after tax guarantee of RM80mil for the year ending Oct 31, 2018.
Aspion is wholly owned by Adventa Capital Pte Ltd, whose major shareholders are Low Chin Guan and Singapore-based private equity fund Southern Capital Group Pte Ltd.
“Low, the major shareholder of Aspion, will continue to manage Aspion’s surgical glove business segment and we intend to offer him a key position in the group,” said Lim.
Aspion’s Kulim plant houses the company’s most recent technology and research and development centre. It also has manufacturing facilities in Kluang, Johor and Kota Bahru, Kelantan, catering mainly for examination gloves.
Aspion owns cutting-edge technology, namely, its Finessis surgical glove which is known to be the only technology capable of reducing the number of viruses (such as HIV) transferred in cases of percutaneous injury.
The news of the proposed acquisition of Aspion is not surprising, as the market has been anticipating it since Lim mentioned a month ago that the company would be announcing a major acquisition that could possibly cost more than RM1bil.
And he has made it clear that Top Glove has been on the lookout for mergers and acquisitions (M&As) for the last several years.
“We have been exploring non-listed glove players for a long time as part of our M&A expansion plans.
“However, some (companies) are not ready to do it.
“As for Aspion, most of our discussions were arrived at two months ago and it is a profitable company with presence in western Europe, the United States and Japan,” Lim noted, adding that this complemented Top Glove’s business, as it was present mostly in the emerging markets.
Top Glove shares closed up 10 sen or 1.48% to RM6.85 yesterday, with 5.91 million shares being traded. At this price, the company is worth RM8.6bil.

Read more at https://www.thestar.com.my/business/business-news/2017/11/28/aspion-profit-boost-for-top-glove/#UoJJiCzqj9vyCUZD.99
Top Glove Corp Bhd. says the plan to buy surgical glove maker Aspion Sdn Bhd for at least RM1.3bil will boost the group’s profits by a fifth in the financial year ending Aug 31, 2018 (FY18) and accelerate the group’s expansion into the highly lucrative segment of the market.

As it is, Aspion commands a healthy 30% gross profit margin on its business, while Top Glove’s own smaller surgical glove unit generates about 20% gross profit from sales.
“We expect to sign the sale and purchase agreement next month and the completion of the acquisition is targeted for February 2018,” Top Glove’s founder and executive chairman Tan Sri Lim Wee Chai said.
“Aspion is expected to contribute around 20% of profits and revenue to Top Glove,” he told StarBiz yesterday. 
Top Glove has a 12% global market share in this segment, producing 665 million pieces a year. The surgical glove segment, prior to the acquisition, contributed about 5% of Top Glove’s revenue.
“The acquisition will make Top Glove the largest exporter of surgical gloves in Malaysia, with a production capacity of 1.8 billion pieces in FY18 and become the world’s largest surgical glove manufacturer,” Lim said.
Top Glove made a net profit of RM332mil for FY17 ended Aug 31, the company said last month.
The market is projecting the company to make around RM400mil in FY18, based on consensus estimates after the deal was announced last Friday.
Top Glove had earlier said it had entered into a term sheet with Adventa Capital Pte Ltd to buy Aspion in a deal worth between RM1.3bil and RM1.4bil.

Aspion has provided a profit after tax guarantee of RM80mil for the year ending Oct 31, 2018.
Aspion is wholly owned by Adventa Capital Pte Ltd, whose major shareholders are Low Chin Guan and Singapore-based private equity fund Southern Capital Group Pte Ltd.
“Low, the major shareholder of Aspion, will continue to manage Aspion’s surgical glove business segment and we intend to offer him a key position in the group,” said Lim.
Aspion’s Kulim plant houses the company’s most recent technology and research and development centre. It also has manufacturing facilities in Kluang, Johor and Kota Bahru, Kelantan, catering mainly for examination gloves.
Aspion owns cutting-edge technology, namely, its Finessis surgical glove which is known to be the only technology capable of reducing the number of viruses (such as HIV) transferred in cases of percutaneous injury. 
“As for Aspion, most of our discussions were arrived at two months ago and it is a profitable company with presence in western Europe, the United States and Japan,” Lim noted, adding that this complemented Top Glove’s business, as it was present mostly in the emerging markets.
 /theSTAR 29-11-2017
 says the plan to buy surgical glove maker Aspion Sdn Bhd for at least RM1.3bil will boost the group’s profits by a fifth in the financial year ending Aug 31, 2018 (FY18) and accelerate the group’s expansion into the highly lucrative segment of the market.
As it is, Aspion commands a healthy 30% gross profit margin on its business, while Top Glove’s own smaller surgical glove unit generates about 20% gross profit from sales.
“We expect to sign the sale and purchase agreement next month and the completion of the acquisition is targeted for February 2018,” Top Glove’s founder and executive chairman Tan Sri Lim Wee Chai said.
“Aspion is expected to contribute around 20% of profits and revenue to Top Glove,” he told StarBiz yesterday.
Top Glove has a 12% global market share in this segment, producing 665 million pieces a year. The surgical glove segment, prior to the acquisition, contributed about 5% of Top Glove’s revenue.
“The acquisition will make Top Glove the largest exporter of surgical gloves in Malaysia, with a production capacity of 1.8 billion pieces in FY18 and become the world’s largest surgical glove manufacturer,” Lim said.
Top Glove made a net profit of RM332mil for FY17 ended Aug 31, the company said last month.
The market is projecting the company to make around RM400mil in FY18, based on consensus estimates after the deal was announced last Friday.
Top Glove had earlier said it had entered into a term sheet with Adventa
 Capital Pte Ltd to buy Aspion in a deal worth between RM1.3bil and RM1.4bil.
Aspion has provided a profit after tax guarantee of RM80mil for the year ending Oct 31, 2018.
Aspion is wholly owned by Adventa Capital Pte Ltd, whose major shareholders are Low Chin Guan and Singapore-based private equity fund Southern Capital Group Pte Ltd.
“Low, the major shareholder of Aspion, will continue to manage Aspion’s surgical glove business segment and we intend to offer him a key position in the group,” said Lim.
Aspion’s Kulim plant houses the company’s most recent technology and research and development centre. It also has manufacturing facilities in Kluang, Johor and Kota Bahru, Kelantan, catering mainly for examination gloves.
Aspion owns cutting-edge technology, namely, its Finessis surgical glove which is known to be the only technology capable of reducing the number of viruses (such as HIV) transferred in cases of percutaneous injury.
The news of the proposed acquisition of Aspion is not surprising, as the market has been anticipating it since Lim mentioned a month ago that the company would be announcing a major acquisition that could possibly cost more than RM1bil.
And he has made it clear that Top Glove has been on the lookout for mergers and acquisitions (M&As) for the last several years.
“We have been exploring non-listed glove players for a long time as part of our M&A expansion plans.
“However, some (companies) are not ready to do it.
“As for Aspion, most of our discussions were arrived at two months ago and it is a profitable company with presence in western Europe, the United States and Japan,” Lim noted, adding that this complemented Top Glove’s business, as it was present mostly in the emerging markets.
Top Glove shares closed up 10 sen or 1.48% to RM6.85 yesterday, with 5.91 million shares being traded. At this price, the company is worth RM8.6bil.

Read more at https://www.thestar.com.my/business/business-news/2017/11/28/aspion-profit-boost-for-top-glove/#UoJJiCzqj9vyCUZD.99

 says the plan to buy surgical glove maker Aspion Sdn Bhd for at least RM1.3bil will boost the group’s profits by a fifth in the financial year ending Aug 31, 2018 (FY18) and accelerate the group’s expansion into the highly lucrative segment of the market.
As it is, Aspion commands a healthy 30% gross profit margin on its business, while Top Glove’s own smaller surgical glove unit generates about 20% gross profit from sales.
“We expect to sign the sale and purchase agreement next month and the completion of the acquisition is targeted for February 2018,” Top Glove’s founder and executive chairman Tan Sri Lim Wee Chai said.
“Aspion is expected to contribute around 20% of profits and revenue to Top Glove,” he told StarBiz yesterday.
Top Glove has a 12% global market share in this segment, producing 665 million pieces a year. The surgical glove segment, prior to the acquisition, contributed about 5% of Top Glove’s revenue.
“The acquisition will make Top Glove the largest exporter of surgical gloves in Malaysia, with a production capacity of 1.8 billion pieces in FY18 and become the world’s largest surgical glove manufacturer,” Lim said.
Top Glove made a net profit of RM332mil for FY17 ended Aug 31, the company said last month.
The market is projecting the company to make around RM400mil in FY18, based on consensus estimates after the deal was announced last Friday.
Top Glove had earlier said it had entered into a term sheet with Adventa
 Capital Pte Ltd to buy Aspion in a deal worth between RM1.3bil and RM1.4bil.
Aspion has provided a profit after tax guarantee of RM80mil for the year ending Oct 31, 2018.
Aspion is wholly owned by Adventa Capital Pte Ltd, whose major shareholders are Low Chin Guan and Singapore-based private equity fund Southern Capital Group Pte Ltd.
“Low, the major shareholder of Aspion, will continue to manage Aspion’s surgical glove business segment and we intend to offer him a key position in the group,” said Lim.
Aspion’s Kulim plant houses the company’s most recent technology and research and development centre. It also has manufacturing facilities in Kluang, Johor and Kota Bahru, Kelantan, catering mainly for examination gloves.
Aspion owns cutting-edge technology, namely, its Finessis surgical glove which is known to be the only technology capable of reducing the number of viruses (such as HIV) transferred in cases of percutaneous injury.
The news of the proposed acquisition of Aspion is not surprising, as the market has been anticipating it since Lim mentioned a month ago that the company would be announcing a major acquisition that could possibly cost more than RM1bil.
And he has made it clear that Top Glove has been on the lookout for mergers and acquisitions (M&As) for the last several years.
“We have been exploring non-listed glove players for a long time as part of our M&A expansion plans.
“However, some (companies) are not ready to do it.
“As for Aspion, most of our discussions were arrived at two months ago and it is a profitable company with presence in western Europe, the United States and Japan,” Lim noted, adding that this complemented Top Glove’s business, as it was present mostly in the emerging markets.
Top Glove shares closed up 10 sen or 1.48% to RM6.85 yesterday, with 5.91 million shares being traded. At this price, the company is worth RM8.6bil.

Read more at https://www.thestar.com.my/business/business-news/2017/11/28/aspion-profit-boost-for-top-glove/#UoJJiCzqj9vyCUZD.99

 says the plan to buy surgical glove maker Aspion Sdn Bhd for at least RM1.3bil will boost the group’s profits by a fifth in the financial year ending Aug 31, 2018 (FY18) and accelerate the group’s expansion into the highly lucrative segment of the market.
As it is, Aspion commands a healthy 30% gross profit margin on its business, while Top Glove’s own smaller surgical glove unit generates about 20% gross profit from sales.
“We expect to sign the sale and purchase agreement next month and the completion of the acquisition is targeted for February 2018,” Top Glove’s founder and executive chairman Tan Sri Lim Wee Chai said.
“Aspion is expected to contribute around 20% of profits and revenue to Top Glove,” he told StarBiz yesterday.
Top Glove has a 12% global market share in this segment, producing 665 million pieces a year. The surgical glove segment, prior to the acquisition, contributed about 5% of Top Glove’s revenue.
“The acquisition will make Top Glove the largest exporter of surgical gloves in Malaysia, with a production capacity of 1.8 billion pieces in FY18 and become the world’s largest surgical glove manufacturer,” Lim said.
Top Glove made a net profit of RM332mil for FY17 ended Aug 31, the company said last month.
The market is projecting the company to make around RM400mil in FY18, based on consensus estimates after the deal was announced last Friday.
Top Glove had earlier said it had entered into a term sheet with Adventa
 Capital Pte Ltd to buy Aspion in a deal worth between RM1.3bil and RM1.4bil.
Aspion has provided a profit after tax guarantee of RM80mil for the year ending Oct 31, 2018.
Aspion is wholly owned by Adventa Capital Pte Ltd, whose major shareholders are Low Chin Guan and Singapore-based private equity fund Southern Capital Group Pte Ltd.
“Low, the major shareholder of Aspion, will continue to manage Aspion’s surgical glove business segment and we intend to offer him a key position in the group,” said Lim.
Aspion’s Kulim plant houses the company’s most recent technology and research and development centre. It also has manufacturing facilities in Kluang, Johor and Kota Bahru, Kelantan, catering mainly for examination gloves.
Aspion owns cutting-edge technology, namely, its Finessis surgical glove which is known to be the only technology capable of reducing the number of viruses (such as HIV) transferred in cases of percutaneous injury.
The news of the proposed acquisition of Aspion is not surprising, as the market has been anticipating it since Lim mentioned a month ago that the company would be announcing a major acquisition that could possibly cost more than RM1bil.
And he has made it clear that Top Glove has been on the lookout for mergers and acquisitions (M&As) for the last several years.
“We have been exploring non-listed glove players for a long time as part of our M&A expansion plans.
“However, some (companies) are not ready to do it.
“As for Aspion, most of our discussions were arrived at two months ago and it is a profitable company with presence in western Europe, the United States and Japan,” Lim noted, adding that this complemented Top Glove’s business, as it was present mostly in the emerging markets.
Top Glove shares closed up 10 sen or 1.48% to RM6.85 yesterday, with 5.91 million shares being traded. At this price, the company is worth RM8.6bil.

Read more at https://www.thestar.com.my/business/business-news/2017/11/28/aspion-profit-boost-for-top-glove/#UoJJiCzqj9vyCUZD.99
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