29cts wil b dirt cheap

Buy n keep dont sell ...after RTO Announcement ..
stil hv a few weeks run up to NIIS announcement...A few weeks of up trend for Connect ROCKET

In current mkt which glove co up for sale other than semperit?

Yes mayb

KUALA LUMPUR: Anzo Holdings Bhd is believed to have signed a sales and purchase agreement to buy over a local glove manufacturer for about RM50 million to RM60 million.


The company is expected to make an announcement on the deal soon.

Last week, Anzo told Bursa Malaysia that it had secured a RM1.3 billion contract to supply millberry/candy copper scrap over 40 months indirectly to a steelmaker in South Korea effective from July 1.

People with knowledge on the matter said the glovemaker had been looking to cash out after being in business for over 15 years and aproached Anzo to buy it over.

The glovemaker, which has the licence to export medical gloves, produces more than one billion pieces of nitrile gloves per annum, worth about RM400 million.

It is expected that Anzo would start exporting nitrile gloves from next month to countries such as Canada and the United Kingdom.

"The return on investment for Anzo should be six to 12 months. Anzo may sell the gloves at the current market price of US$70 to US$75 per box of 1,000 pieces. The net profit for Anzo is expected to be in the region of RM150 million or more," said a person close to the glove-making company.

According to him, the factory has nine production lines that can churn up to 100 million pieces of gloves a month.

Anzo can increase the production lines to 12 or 15 should demand exceed supply, he said.

"The World Health Organisation has warned of a chronic global shortage of personal protective equipment including N95 masks and gloves brought about by the unprecedented Covid-19 pandemic.

"Further, Anzo has been seeking to diversify to mitigate loss of earnings from its current business of property development. The glove business is a lucrative business and it is expected that it will continue to prosper even post-Covid-10," he said.

The stock opened one sen higher at 17.5 sen today, giving it a market capitalisation of RM147 million.

Closed 29cts...wont think wil come bk down to 20 or 22cts...well supported at 27-28cts...today closing hopefully can break 30cts
03/07/2020 12:41 PM

Afternoon might fly as not many ppl knew of this latest news

The company is expected to make an announcement on the deal soon...
This news wil push up the price further

Yes buy more ...

Austrian owned co ka at Kamunting up for sale?

KUALA LUMPUR: Anzo Holdings Bhd is believed to have signed a sales and purchase agreement to buy over a local glove manufacturer for about RM50 million to RM60 million.


The company is expected to make an announcement on the deal soon.

Last week, Anzo told Bursa Malaysia that it had secured a RM1.3 billion contract to supply millberry/candy copper scrap over 40 months indirectly to a steelmaker in South Korea effective from July 1.

People with knowledge on the matter said the glovemaker had been looking to cash out after being in business for over 15 years and aproached Anzo to buy it over.

The glovemaker, which has the licence to export medical gloves, produces more than one billion pieces of nitrile gloves per annum, worth about RM400 million.

It is expected that Anzo would start exporting nitrile gloves from next month to countries such as Canada and the United Kingdom.

"The return on investment for Anzo should be six to 12 months. Anzo may sell the gloves at the current market price of US$70 to US$75 per box of 1,000 pieces. The net profit for Anzo is expected to be in the region of RM150 million or more," said a person close to the glove-making company.

According to him, the factory has nine production lines that can churn up to 100 million pieces of gloves a month.

Anzo can increase the production lines to 12 or 15 should demand exceed supply, he said.

"The World Health Organisation has warned of a chronic global shortage of personal protective equipment including N95 masks and gloves brought about by the unprecedented Covid-19 pandemic.

"Further, Anzo has been seeking to diversify to mitigate loss of earnings from its current business of property development. The glove business is a lucrative business and it is expected that it will continue to prosper even post-Covid-10," he said.

The stock opened one sen higher at 17.5 sen today, giving it a market capitalisation of RM147 million.

Some 20 million shares exchanged hands.

KUALA LUMPUR: Anzo Holdings Bhd is believed to have signed a sales and purchase agreement to buy over a local glove manufacturer for about RM50 million to RM60 million.


The company is expected to make an announcement on the deal soon.

Last week, Anzo told Bursa Malaysia that it had secured a RM1.3 billion contract to supply millberry/candy copper scrap over 40 months indirectly to a steelmaker in South Korea effective from July 1.

People with knowledge on the matter said the glovemaker had been looking to cash out after being in business for over 15 years and aproached Anzo to buy it over.

The glovemaker, which has the licence to export medical gloves, produces more than one billion pieces of nitrile gloves per annum, worth about RM400 million.

It is expected that Anzo would start exporting nitrile gloves from next month to countries such as Canada and the United Kingdom.

"The return on investment for Anzo should be six to 12 months. Anzo may sell the gloves at the current market price of US$70 to US$75 per box of 1,000 pieces. The net profit for Anzo is expected to be in the region of RM150 million or more," said a person close to the glove-making company.

According to him, the factory has nine production lines that can churn up to 100 million pieces of gloves a month.

Anzo can increase the production lines to 12 or 15 should demand exceed supply, he said.

"The World Health Organisation has warned of a chronic global shortage of personal protective equipment including N95 masks and gloves brought about by the unprecedented Covid-19 pandemic.

"Further, Anzo has been seeking to diversify to mitigate loss of earnings from its current business of property development. The glove business is a lucrative business and it is expected that it will continue to prosper even post-Covid-10," he said.

The stock opened one sen higher at 17.5 sen today, giving it a market capitalisation of RM147 million.

Some 20 million shares exchanged hands.

GLOVE related share all fly

KUALA LUMPUR: Anzo Holdings Bhd is believed to have signed a sales and purchase agreement to buy over a local glove manufacturer for about RM50 million to RM60 million.


The company is expected to make an announcement on the deal soon.

Last week, Anzo told Bursa Malaysia that it had secured a RM1.3 billion contract to supply millberry/candy copper scrap over 40 months indirectly to a steelmaker in South Korea effective from July 1.

People with knowledge on the matter said the glovemaker had been looking to cash out after being in business for over 15 years and aproached Anzo to buy it over.

The glovemaker, which has the licence to export medical gloves, produces more than one billion pieces of nitrile gloves per annum, worth about RM400 million.

It is expected that Anzo would start exporting nitrile gloves from next month to countries such as Canada and the United Kingdom.

"The return on investment for Anzo should be six to 12 months. Anzo may sell the gloves at the current market price of US$70 to US$75 per box of 1,000 pieces. The net profit for Anzo is expected to be in the region of RM150 million or more," said a person close to the glove-making company.

According to him, the factory has nine production lines that can churn up to 100 million pieces of gloves a month.

Anzo can increase the production lines to 12 or 15 should demand exceed supply, he said.

"The World Health Organisation has warned of a chronic global shortage of personal protective equipment including N95 masks and gloves brought about by the unprecedented Covid-19 pandemic.

"Further, Anzo has been seeking to diversify to mitigate loss of earnings from its current business of property development. The glove business is a lucrative business and it is expected that it will continue to prosper even post-Covid-10," he said.

The stock opened one sen higher at 17.5 sen today, giving it a market capitalisation of RM147 million.

Some 20 million shares exchanged hands.

Buy now b4 it fly up

KUALA LUMPUR: Anzo Holdings Bhd is believed to have signed a sales and purchase agreement to buy over a local glove manufacturer for about RM50 million to RM60 million.


The company is expected to make an announcement on the deal soon.

Last week, Anzo told Bursa Malaysia that it had secured a RM1.3 billion contract to supply millberry/candy copper scrap over 40 months indirectly to a steelmaker in South Korea effective from July 1.

People with knowledge on the matter said the glovemaker had been looking to cash out after being in business for over 15 years and aproached Anzo to buy it over.

The glovemaker, which has the licence to export medical gloves, produces more than one billion pieces of nitrile gloves per annum, worth about RM400 million.

It is expected that Anzo would start exporting nitrile gloves from next month to countries such as Canada and the United Kingdom.

"The return on investment for Anzo should be six to 12 months. Anzo may sell the gloves at the current market price of US$70 to US$75 per box of 1,000 pieces. The net profit for Anzo is expected to be in the region of RM150 million or more," said a person close to the glove-making company.

According to him, the factory has nine production lines that can churn up to 100 million pieces of gloves a month.

Anzo can increase the production lines to 12 or 15 should demand exceed supply, he said.

"The World Health Organisation has warned of a chronic global shortage of personal protective equipment including N95 masks and gloves brought about by the unprecedented Covid-19 pandemic.

"Further, Anzo has been seeking to diversify to mitigate loss of earnings from its current business of property development. The glove business is a lucrative business and it is expected that it will continue to prosper even post-Covid-10," he said.

The stock opened one sen higher at 17.5 sen today, giving it a market capitalisation of RM147 million.

Some 20 million shares exchanged hands.

How to go up no interest at all ...

Such a low volumn...Unbelievable for a glove counter...

When TG N Supermaxx move up the whole mkt awaken

Here we going again...KLSE lucky to hv glove counters or else the whole mkt damn quiet...Glove counters wil provide excitement n comfort thru out pandemic 2020

Stable..
collecting b4 moving up another high

Going down ...buy now buy at low price...buy and keep

A stock wt RTO news at 29cts? Can u all believed it? U cant find this pc of news at any other stock forum. Icing on the cake...this stock after RTO wil b tendering for RM1.5B govnt contract...at 29cts a share ..Normally any counter wt news of RTO the share price fly sky high...Wt 2 mths run up to the annoucement there plenty of time for this share to move up north ward
02/07/2020 7:45 PM

Gap up not yet over...along the way to 29cts swallow big chunks at high price...we looking at 33cts or more at least...hopefully come true..

Any idea how to join JB private group?

Does that mean news wil be out vr soon?

30cts coming

Yes coming

Show aint over yet...high volumn accumulation...lets wait what happened b4 closing

lets wait n see can pass 27.5 cts

Gap Up high volumn

Pls add me too

Buy Now & Keep

This consortium is frontrunner for RM1.5 bil immigration system contract
By Xavier Kong | an hour ago | Mainstream

A consortium between MyEG Services Bhd, HeiTech Padu Bhd and S5 Systems Sdn Bhd is among the frontrunners for the National Integrated Immigration System (NIIS).

This is an RM1.5 bil project expected to be awarded during the third quarter of this year. The contract is for a total of 4.5 years including three years of development, six months of monitoring and a final year of maintenance.

After that, there is another maintenance contract which would be around 15%-20% of the value of the project.

Names have been bandied about. The usual suspects include listed companies Datasonic Group Bhd, Iris Corp Bhd and Scicom (MSC) Bhd. But it is the MyEG-HeiTech Padu-S5 Systems consortium that has been gaining some traction of late.

The most obvious link between the three companies is entrepreneur Wong Thean Soon, who owns MyEG which in turn plans to acquire a 10% stake in S5 Holdings Inc, the holding company of S5 Systems.

MyEG is expected to fork out RM90 mil, of which RM75 mil is in cold hard cash, while the remainder will be in MyEG shares.

Wong owns about 20% of MyEG directly and also through his vehicle, Asia Internet Holdings Sdn Bhd, which sits on a 37.6% stake.

But Wong also has a presence in HeiTech Padu through Asia Internet with a substantial 10.4% in HeiTech Padu, according to the latter’s 2019 annual report.

The other owner of Asia Internet is MyEG executive chairman Norraesah Mohamad. She was also an Umno supreme council member from 2000 to 2013.

And, HeiTech Padu has links to S5. One of its shareholders is AIX Shares Sdn Bhd which owns a meagre 0.79%, according to its annual report. AIX is wholly owned by offshore entity Merrington Assets Ltd.

Merrington owns a substantial stake in S5 Holdings and is the party that is being engaged by MyEG in the latter’s bid to acquire the 10% stake owned by Merrington in S5.

According to a Bursa filing dated June 30, the company Merrington had nominated is none other than AIX Shares.

Incorporated on July 5, 2019, AIX Shares has a sole director, Ng Hong Sing, who was among a string of individuals, together with Wong, involved in the alleged manipulation of MyEG shares between Jan 16, 2007, and April 24, 2007.

Wong entered into a settlement with the Securities Commission Malaysia in the sum of RM7 mil when he agreed without admission or denial of liability to settle the claim.

Other key shareholders of HeiTech Padu include Permodalan Nasional Bhd (PNB) which owns a 6.96% stake as well as Padujade Corp Sdn Bhd with a 24.85% stake.

Padujade has a string of shareholders including Perbadanan Usahawan Nasional Bhd (PUNB) with a 4.95% stake.

PNB and PUNB are wholly owned by Yayasan Pelaburan Bumiputra (YPB), whose chairman is Prime Minister Muhyiddin Yassin. Meanwhile, Tanjong Karang MP and Umno strongman Noh Omar is expected to helm PUNB.

Technically, the MyEG-HeiTech Padu-S5 Systems consortium presents itself as a strong front. MyEG itself received a three-year extension yesterday from the government to provide the online service for the foreign worker temporary employment pass which is worth an estimated RM208 mil.

But HeiTech Padu has a troubled past with its handling of the NIIS’ predecessor, the Malaysia Immigration System (MyIMMS).

HeiTech Padu was appointed by the Ministry of Finance, then headed by Najib Razak when he double hatted as prime minister, on Nov 1, 2010, through direct negotiation.

The Auditor General’s Reports 2015 and 2018 highlighted issues with the MyIMMS, including “losses in government revenue” in the latter report. The Malaysian Anti-Corruption Commission and the Home Ministry were looking into the issues.

But the flashpoint was in May 2016 when an insider syndicate in the Immigration Department was busted for sabotaging the MyIMMS after it successfully siphoned off RM1 bil.

Heitech Padu came out to defend itself that year after being criticised for putting out a shoddy product. The company denied that MyIMMS had been compromised but admitted that the system is susceptible to power outages and internet service disruptions.

But Heitech Padu also believed it was made the scapegoat for a structural problem much bigger than itself: poor overall system integration as many databases were developed and maintained by various vendors.

This led the Najib government to announce an overhaul of MyIMMS, hence the NIIS. Whether the NIIS can be successfully executed is another question that is worth raising given the many vested interests in the project.

Also, there is an element of mystery with S5, as its major shareholder NSA Technology is owned by an offshore or overseas entity NSA Technology (L) Inc.

But its sole director is Syed Mohammad Hafiz, who is from the Perlis royal family. His father, Syed Razlan Syed Putra Jamalullail, is the younger brother of Raja Perlis Tuanku Syed Sirajuddin Putra Jamalullail.

Buy & Keep

Buy Now

This consortium is frontrunner for RM1.5 bil immigration system contract
By Xavier Kong | an hour ago | Mainstream

A consortium between MyEG Services Bhd, HeiTech Padu Bhd and S5 Systems Sdn Bhd is among the frontrunners for the National Integrated Immigration System (NIIS).

This is an RM1.5 bil project expected to be awarded during the third quarter of this year. The contract is for a total of 4.5 years including three years of development, six months of monitoring and a final year of maintenance.

After that, there is another maintenance contract which would be around 15%-20% of the value of the project.

Names have been bandied about. The usual suspects include listed companies Datasonic Group Bhd, Iris Corp Bhd and Scicom (MSC) Bhd. But it is the MyEG-HeiTech Padu-S5 Systems consortium that has been gaining some traction of late.

The most obvious link between the three companies is entrepreneur Wong Thean Soon, who owns MyEG which in turn plans to acquire a 10% stake in S5 Holdings Inc, the holding company of S5 Systems.

MyEG is expected to fork out RM90 mil, of which RM75 mil is in cold hard cash, while the remainder will be in MyEG shares.

Wong owns about 20% of MyEG directly and also through his vehicle, Asia Internet Holdings Sdn Bhd, which sits on a 37.6% stake.

But Wong also has a presence in HeiTech Padu through Asia Internet with a substantial 10.4% in HeiTech Padu, according to the latter’s 2019 annual report.

The other owner of Asia Internet is MyEG executive chairman Norraesah Mohamad. She was also an Umno supreme council member from 2000 to 2013.

And, HeiTech Padu has links to S5. One of its shareholders is AIX Shares Sdn Bhd which owns a meagre 0.79%, according to its annual report. AIX is wholly owned by offshore entity Merrington Assets Ltd.

Merrington owns a substantial stake in S5 Holdings and is the party that is being engaged by MyEG in the latter’s bid to acquire the 10% stake owned by Merrington in S5.

According to a Bursa filing dated June 30, the company Merrington had nominated is none other than AIX Shares.

Incorporated on July 5, 2019, AIX Shares has a sole director, Ng Hong Sing, who was among a string of individuals, together with Wong, involved in the alleged manipulation of MyEG shares between Jan 16, 2007, and April 24, 2007.

Wong entered into a settlement with the Securities Commission Malaysia in the sum of RM7 mil when he agreed without admission or denial of liability to settle the claim.

Other key shareholders of HeiTech Padu include Permodalan Nasional Bhd (PNB) which owns a 6.96% stake as well as Padujade Corp Sdn Bhd with a 24.85% stake.

Padujade has a string of shareholders including Perbadanan Usahawan Nasional Bhd (PUNB) with a 4.95% stake.

PNB and PUNB are wholly owned by Yayasan Pelaburan Bumiputra (YPB), whose chairman is Prime Minister Muhyiddin Yassin. Meanwhile, Tanjong Karang MP and Umno strongman Noh Omar is expected to helm PUNB.

Technically, the MyEG-HeiTech Padu-S5 Systems consortium presents itself as a strong front. MyEG itself received a three-year extension yesterday from the government to provide the online service for the foreign worker temporary employment pass which is worth an estimated RM208 mil.

But HeiTech Padu has a troubled past with its handling of the NIIS’ predecessor, the Malaysia Immigration System (MyIMMS).

HeiTech Padu was appointed by the Ministry of Finance, then headed by Najib Razak when he double hatted as prime minister, on Nov 1, 2010, through direct negotiation.

The Auditor General’s Reports 2015 and 2018 highlighted issues with the MyIMMS, including “losses in government revenue” in the latter report. The Malaysian Anti-Corruption Commission and the Home Ministry were looking into the issues.

But the flashpoint was in May 2016 when an insider syndicate in the Immigration Department was busted for sabotaging the MyIMMS after it successfully siphoned off RM1 bil.

Heitech Padu came out to defend itself that year after being criticised for putting out a shoddy product. The company denied that MyIMMS had been compromised but admitted that the system is susceptible to power outages and internet service disruptions.

But Heitech Padu also believed it was made the scapegoat for a structural problem much bigger than itself: poor overall system integration as many databases were developed and maintained by various vendors.

This led the Najib government to announce an overhaul of MyIMMS, hence the NIIS. Whether the NIIS can be successfully executed is another question that is worth raising given the many vested interests in the project.

Also, there is an element of mystery with S5, as its major shareholder NSA Technology is owned by an offshore or overseas entity NSA Technology (L) Inc.

But its sole director is Syed Mohammad Hafiz, who is from the Perlis royal family. His father, Syed Razlan Syed Putra Jamalullail, is the younger brother of Raja Perlis Tuanku Syed Sirajuddin Putra Jamalullail.

Buy Buy Now

This consortium is frontrunner for RM1.5 bil immigration system contract
By Xavier Kong | an hour ago | Mainstream

A consortium between MyEG Services Bhd, HeiTech Padu Bhd and S5 Systems Sdn Bhd is among the frontrunners for the National Integrated Immigration System (NIIS).

This is an RM1.5 bil project expected to be awarded during the third quarter of this year. The contract is for a total of 4.5 years including three years of development, six months of monitoring and a final year of maintenance.

After that, there is another maintenance contract which would be around 15%-20% of the value of the project.

Names have been bandied about. The usual suspects include listed companies Datasonic Group Bhd, Iris Corp Bhd and Scicom (MSC) Bhd. But it is the MyEG-HeiTech Padu-S5 Systems consortium that has been gaining some traction of late.

The most obvious link between the three companies is entrepreneur Wong Thean Soon, who owns MyEG which in turn plans to acquire a 10% stake in S5 Holdings Inc, the holding company of S5 Systems.

MyEG is expected to fork out RM90 mil, of which RM75 mil is in cold hard cash, while the remainder will be in MyEG shares.

Wong owns about 20% of MyEG directly and also through his vehicle, Asia Internet Holdings Sdn Bhd, which sits on a 37.6% stake.

But Wong also has a presence in HeiTech Padu through Asia Internet with a substantial 10.4% in HeiTech Padu, according to the latter’s 2019 annual report.

The other owner of Asia Internet is MyEG executive chairman Norraesah Mohamad. She was also an Umno supreme council member from 2000 to 2013.

And, HeiTech Padu has links to S5. One of its shareholders is AIX Shares Sdn Bhd which owns a meagre 0.79%, according to its annual report. AIX is wholly owned by offshore entity Merrington Assets Ltd.

Merrington owns a substantial stake in S5 Holdings and is the party that is being engaged by MyEG in the latter’s bid to acquire the 10% stake owned by Merrington in S5.

According to a Bursa filing dated June 30, the company Merrington had nominated is none other than AIX Shares.

Incorporated on July 5, 2019, AIX Shares has a sole director, Ng Hong Sing, who was among a string of individuals, together with Wong, involved in the alleged manipulation of MyEG shares between Jan 16, 2007, and April 24, 2007.

Wong entered into a settlement with the Securities Commission Malaysia in the sum of RM7 mil when he agreed without admission or denial of liability to settle the claim.

Other key shareholders of HeiTech Padu include Permodalan Nasional Bhd (PNB) which owns a 6.96% stake as well as Padujade Corp Sdn Bhd with a 24.85% stake.

Padujade has a string of shareholders including Perbadanan Usahawan Nasional Bhd (PUNB) with a 4.95% stake.

PNB and PUNB are wholly owned by Yayasan Pelaburan Bumiputra (YPB), whose chairman is Prime Minister Muhyiddin Yassin. Meanwhile, Tanjong Karang MP and Umno strongman Noh Omar is expected to helm PUNB.

Technically, the MyEG-HeiTech Padu-S5 Systems consortium presents itself as a strong front. MyEG itself received a three-year extension yesterday from the government to provide the online service for the foreign worker temporary employment pass which is worth an estimated RM208 mil.

But HeiTech Padu has a troubled past with its handling of the NIIS’ predecessor, the Malaysia Immigration System (MyIMMS).

HeiTech Padu was appointed by the Ministry of Finance, then headed by Najib Razak when he double hatted as prime minister, on Nov 1, 2010, through direct negotiation.

The Auditor General’s Reports 2015 and 2018 highlighted issues with the MyIMMS, including “losses in government revenue” in the latter report. The Malaysian Anti-Corruption Commission and the Home Ministry were looking into the issues.

But the flashpoint was in May 2016 when an insider syndicate in the Immigration Department was busted for sabotaging the MyIMMS after it successfully siphoned off RM1 bil.

Heitech Padu came out to defend itself that year after being criticised for putting out a shoddy product. The company denied that MyIMMS had been compromised but admitted that the system is susceptible to power outages and internet service disruptions.

But Heitech Padu also believed it was made the scapegoat for a structural problem much bigger than itself: poor overall system integration as many databases were developed and maintained by various vendors.

This led the Najib government to announce an overhaul of MyIMMS, hence the NIIS. Whether the NIIS can be successfully executed is another question that is worth raising given the many vested interests in the project.

Also, there is an element of mystery with S5, as its major shareholder NSA Technology is owned by an offshore or overseas entity NSA Technology (L) Inc.

But its sole director is Syed Mohammad Hafiz, who is from the Perlis royal family. His father, Syed Razlan Syed Putra Jamalullail, is the younger brother of Raja Perlis Tuanku Syed Sirajuddin Putra Jamalullail.

Kossan no volumn ..going up bcos of good glove sentiment...look at kossan volumn vs supermaxx n tq

Race is onSupermaxx towards RM9
Kossan RM10
TG RM18

2molo comfort rubberex gap up

2nolo laggard Rubberex Comfort wil gap up...

2molo will fly higher dont sell yet...last minute push up to close abv rm1.50...resistance at RM1.50 but managed to push it up further ....Volumn increased alot...

Dont sell high volumn

Otw to Limit Up

LURE- tempt a person to do something or to go somewhere, especially by offering some form of reward.

30th mid year closing

Gap up

KUALA LUMPUR: A new shareholder has emerged in Anzo Holdings Bhd, less than a week after the company sealed a RM1.3 billion contract to supply millberry/candy copper scrap to a South Korean-based steel making group.

In a filing with Bursa Malaysia today, Anzo said CSTME Resources Sdn Bhd had been buying up shares in the company and was now a substantial shareholder with an 11.621 per cent stake.


Things could get more exciting for Anzo.

Rumours has it that a Chinese global fund had been buying up shares in Anzo and would likely end up as a majority shareholder in the timber and property development company.

It is understood that Anzo was expected to make an announcement on a new shareholder as early as this week.

Anzo fell three sen today to close at 14.5 sen, with some 216.4 million shares traded.

It was the third most active stock traded on Bursa Malaysia.

Last week Anzo, its subsidiaries and CSTME entered into an agreement to supply millberry/candy copper scrap to the South Korean group.

CSTME had agreed to purchase birch/cliff copper scrap or berry/candy copper scrap from Anzo.

CSTME is one of the major importers and exporters of non-ferrous materials in Malaysia, specialising mainly in copper products.

Anzo said it would supply up to 60,000 tonnes of copper scrap to CSTME at RM23,000 tonnes 40 months.

CSTME, which has an AP (approved permit) license, will buy the products from Anzo before exporting to the South Korean group from July 1.

The Korean group is buying the products indirectly from Anzo for remelting into copper plates and copper products for industrial and electrical construction purposes.

Anzo said the deal was expected to strengthen its trading business for sustainable earnings in a long period, as well as create business opportunities in the international export market.

Its managing director Datuk Eddie Chai Woon Chet told the New Straits Times last week that with the deal, Anzo was expected to turn around in the current year ending July 31, 2020.

Anzo has been actively seeking new businesses to diversify its income stream after posting losses for many quarters.