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
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 5 Contagious diseases in Malaysia



Dengue has remained the most contagious disease in Malaysia since 2015.
Deputy Health Minister Datuk Seri Dr Hilmi Yahaya pointed out dengue consistently topped the five main diseases in the country for the past three years.
For 2015, the top five diseases were dengue (120,836 cases), tuberculosis (24,220 cases), Hand Foot and Mouth Disease HFMD (22,587 cases), food poisoning (14,433 cases) and leptospirosis (8,291 cases).
For 2016, dengue remained on top with 101,357 cases, followed by HFMD (47,008 cases), tuberculosis (25,739 cases), food poisoning (17,480 cases) and viral hepatitis (6,646 cases).
/theSTAR 28-11-2017

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Dental Bill 2017 tabled in Parliament



A new Bill to better regulate the dental profession and have strict penalties for fake dentists has been tabled.
The Dental Bill 2017 seeks to specify the duties and powers of the Malaysian Dental Council (MDC), including setting and approving qualifications, approving or rejecting registration, imposing fees and issuing certificates of practice.
It also seeks to set up the Malaysian Dental Therapist Board to register and issue certificates to dental and post-basic dental therapists, and regulate examinations for registration and standards of practice.
Presently, the Dental Act 1971 contains provisions for the MDC but once the new Bill is passed, the body will be dissolved to pave the way for one that follows the latest provisions.
Unregistered persons found to be practising dentistry or impersonating dental practitioners will, for each offence, face a maximum fine of RM300,000 or jail term of not more than six years, or both.
The same penalty will apply to anyone who falsifies certificates of registration and practice, makes a fraudulent application for a certificate, or displays certificates before their names are included in the Dental Register or Dental Therapists Register.
The heavy penalty will also be imposed on those who appoint or enable the appointment of unregistered persons to conduct dental services, or practise in the same premises as them.
For persons convicted of impersonating a dental practitioner, should they continue to commit the offence, a further maximum fine of RM1,000 will be imposed for each day the offence is committed after conviction.
Dentists who falsely describe their vocation or continue practice without a valid certificate will be liable to a fine of not more than RM50,000 or jail term of not more than one year, or both.
Any dentist who knowingly practises with a person who does not have a valid certificate will also be fined a maximum RM20,000 or be jailed not more than six months, or both.
The move follows the controversy over several bogus dentists caught offering dental and orthodontic services or operating illegal dental clinics.
 /29-11-2017

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Available Capacity in the GP clinics



The Malaysian Medical Association (MMA) has called on the Health Ministry to use the expertise of existing general practitioners (GPs) and infrastructure in the private practice, instead of building new clinics.
Its president Dr Ravindran R. Naidu made the call while lauding the ministry’s opening of a five-storey shoplot health clinic in Kota Damansara and the possibility of more such clinics in commercial buildings as a positive move for easy access to the public.
“There are more than 6,500 registered GP clinics which are well distributed nationwide and it will be prudent for the Government to utilise the existing infrastructure and the well-trained doctors.
“This will save the Government capital and operative expenditure,” he said.
He said such locations would provide easy assess to people seeking treatment, especially those living far from clinics.
In June, it was reported that as many as 500 clinics managed by GPs were said to have closed between 2014 and 2016 due to poor business and the MMA was worried that the situation might worsen.
Dr Ravindran said the ministry should optimise the use of the private GPs as more than 70% of these facilities were seeing fewer than 30 patients a day.
“The Government should engage the GPs to buy their services and work in partnership rather than compete with them,” he said.
An example of this partnership was between the Selangor government via Peduli Sihat and GPs in the state for those who fall under the bottom 40% (B40) income group, he said.
He said the proposal had been forwarded to the Health Ministry over the years.
Medical Practitioners Coalition Association of Malaysia deputy president Dr Raj Kumar Maharajah said he was surprised to hear about the possibility of the Government setting up more clinics as there had been talk that it might use the services of private GPs.
“The Government has been talking about public-private partnership but it seems they are competing with us,” he said.
He said GP consultations in Malaysia were affordable and the healthcare provided was according to the World Health Organisation standards.
“The Government and GPs could negotiate a price which is acceptable to both,” he said, adding that the poor would get continued healthcare from the same doctor which was not possible, due to the high turnover rate, in government-run clinics.
Patients would prefer a doctor to examine them while the 1Malaysia Clinics usually have a medical assistant and not a doctor. .
/theSTAR 16-11-2017

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Capping of Private Hospital bills?



The Malaysain Health Ministry wants to introduce a ceiling price system to protect private hospital patients from being saddled with high medical bills.

Its Minister Datuk Seri Dr S. Subramaniam said the Ministry was in discussions with private hospitals to find ways to widen the existing price control on professional fees to other treatment aspects.

For now, under the 13th schedule, the ministry has set a cap on professional fees as well as consultancy fees, including consultancy during intensive care treatment and for those done by private dental clinics.

However, the Ministry has no control over private hospitals’ charges for admissions, nursing care, lab tests, medicines and disposable equipment.

The Health Minister acknowledged that patients in private hospitals were sometimes unable to estimate costs because they often did not know how long they would need to be warded, and if they suddenly required intensive care, the costs would quickly rise.

One of the methods the Ministry is looking at to address this issue is called bundling, where if implemented, private hospitals will be paid a single payment for all services performed to treat a patient for one specific episode of care – such as a heart surgery.

If there is any extra treatment that involves more in costs, it is a risk the hospitals must take.

Some foreign hospitals have already introduced this system, and if the discussions between the Ministry and the private hospitals here are successful, control on medical costs in this sector that is currently only limited to professional and consultancy fees can be widened, he said.

/08-11-20-17theSTAR

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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