Bursa Malaysia (KLSE) Stock Investment Portal

KLANG (April 22): Mah Sing Group Bhd has completed the testing and commissioning of its two glove production lines in its first glove manufacturing factory. The manufacturing plant, located in Kapar, Klang, is expected to start production next month.

During the media visit to the plant, chief executive officer (CEO) Datuk Ho Hon Sang revealed that the indicative orders from more than 100 letters of intents received to date had well exceeded the group's capacity.

"On the whole, we expect the glove manufacturing business to generate more recurring and steady income for Mah Sing, complementing the same existing property and plastics businesses, and contributing positively to the group's financials going forward," he told the media.

The property developer anticipates the first shipment of gloves to be delivered in May and June.

Mah Sing expects an addition of four production lines to be operational in the second quarter this year (2Q21), followed by six more production lines in the 3Q21.

These 12 double former lines have a maximum annual capacity of up to 3.68 billion pieces of gloves.

"Being a new glove producer, we are not committed to any long-term contracts with lower pricing. As such, compared to existing players, we have more flexibility to lock in spot orders at higher spot prices," Ho said.

At 11am, Mah Sing's shares price was 1.5 sen or 1.69% higher at 90.5 sen, valuing it at RM2.2 billion.

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Stock: [SEDANIA]: SEDANIA INNOVATOR BERHAD

2021-04-21 13:52 | Report Abuse

SEDANIA Innovator Bhd will continue to be the leading provider for airtime sharing services in Malaysia, after it renewed its contract with all of its key telecommunication clients (telcos) in the country.

In a statement released yesterday, the homegrown technology company stated the contract renewal was completed by its subsidiary Sedania Technologies Sdn Bhd and is its 17th consecutive year as the provider for its proprietary platform.

Sedania group CEO Daniel Ruppert said the platform has been one of the most significant services offered by telcos and usage was accelerated even more after the pandemic hit last year.

The sharing platform connects with clients’ backends and enables prepaid and postpaid users to instantly share small amounts from RM1 up to RM25 as an alternative to regular top-ups which require cash.

“Over the last year since the outbreak of Covid-19, airtime sharing transactions increased on some days up to 20% and we have processed nearly 14 million peer-to-peer sharing transactions.

Over RM50 million worth of airtime and data credit was shared among users. We are proud to be a key value-added service provider in the domestic telecommunication industry,” he noted.

Since its first release in 2004, Sedania’s sharing platform evolved with over 20 software releases adding more processing power, smart features and new channels with its most recent one being a WhatsApp integration which enables users to share their credit via WhatsApp-based Chatbots.

He added that the company is currently in discussion to licence its technology to mobile operators in the Asian region.

Sedania’s share price closed 14 sen or 35% lower at 26 sen yesterday, after rallying to a high of 45.5 sen on Monday from 15.5 sen last Friday.

At close yesterday, Sedania’s market value amounted to RM90.7 million