1) Fintec has 13.8% stake in AT Systemization in April 2020

2) Fintec Global will also be laying groundwork for glove manufacturing (3.3b pieces of gloves) for themselves.

3) Fintec stablish a strategic partnership with AT, the synergies provided from the combined manufacturing plant will enable Fintec Glove to unlock shareholder value through the following channels:

i. expedited construction process

ii. shortening Fintec’s production lead time and cost savings of RM10 million over eight years due to Fintec Glove’s close proximity to AT Systemization’s manufacturing site that will enable both parties to share resources and improve efficiencies

4) Fintec Glove expects to recuperate its capital cost within three years, assuming the average selling price of each piece of glove remains above 20 sen.

5) Fintec Glove is seeing strong interest from multiple parties to signed long term contracts committing to the future delivery of medical gloves.

6) Fintec Global 2Q net profit swells to RM720.5 million. Fintec announced that the gloves business is anticipated to contribute 25%  net profits of the group in the future.

03/12/2020
FINTEC = 0.10
AT = 0.185


Reference:

https://www.theedgemarkets.com/article/fintec-global-2q-net-profit-swells-rm7205-million-how-did-it-make-it

https://www.thesundaily.my/business/fintec-global-laying-groundwork-for-glove-manufacturing-BF5430829