now investors are more cautious, they want to see the factory, FDA approval, order... don't think will limit up soon. maybe after confirm private placement will up a bit. need to secure oversea order and glove machine commissioning to limit up.
Iconic already has a good expertise to diversified into glove production. Experience working at Hartalega and Ansell.
Below form circular to shareholder of Iconic:-
Further, the Group has appointed Ashok Kumar in September 2020 as the Plant Manager for the PPE Business. He will also be responsible for the operations of the upcoming 12 double former gloves dipping lines. The brief profiles of Ashok Kumar as follows:
(i) Ashok Kumar
Ashok Kumar, a Malaysian aged 58, is mainly responsible for the setting-up and overall management of the New Facility as well as operations of the upcoming 12 double former gloves dipping lines. He will also be leading the team in day-to-day operations of the PPE Business with his extensive 32 years of experience in the glove manufacturing industry.
Ashok Kumar graduated in 1986 from University Sains Malaysia with a Bachelor Degree in Polymer Science and Technology. Subsequently, he obtained his Masters in Business Administration from University of Portsmouth, United Kingdom in 2003. In 1988, he started his career in Safeskin Corporation Sdn Bhd, a US-based company involved in the manufacturing of exam gloves as a Production Supervisor, where he successfully set up the operations of 4 dipping lines of the plant within the targeted quality and output requirement. In 1991 to 1994, he moved to Toray Plastic Malaysia Sdn Bhd a company principally involved in manufacturing of acrylonitrile butadiene styrene (ABS) resin as a process engineer and was subsequently promoted as Shift Manager. He was mainly responsible for managing the start-up operation of the plant and subsequently in charge of shift operation of the polymerization, rubber plant and packaging to meet the production output and quality.In 1994, he joined MAPA Malaysia Sdn Bhd, a company involved in the manufacturing of industrial gloves as a Process Manager. He was mainly responsible for providing technical support for the operations of the plant and was involved in development of new product transfer and in charge of test laboratory for category III waste water plant management.
In 2005, he moved to Thailand and joined WA Rubbermate Thailand, a company involved in manufacturing of gloves as the Plant Manager. He was mainly responsible for the overall management of the plant which included QA/QC, packing, store, maintenance and technical departments. In 2007, he left to join Hartalega Malaysia Sdn Bhd, a company principally involved in manufacturing of nitrile examination gloves as the Production Manager where he was mainly responsible for the management of plant consisting of 8 double former dipping lines to produce and pack nitrile examination gloves. In 2010, he joined Medisafe Technologies Medan in Indonesia a company involved in manufacturing of gloves as a Senior Production Manager. He was mainly responsible for the overall management of the plant operations and all related departments.
In 2011, he joined Multisafe Sdn Bhd a company involved in manufacturing of rubber gloves as Plant Manager where he was principally involved in the overall operations and manufacturing of cleanroom and industrial gloves. In 2018, he joined Nitritex Ansell Sdn Bhd a company involved in manufacturing of rubber gloves as the Engineering Manager, where he was responsible for the operation of batch dipping line and maintenance of clean room and utilities.
The company's management will be on Savwee Investment's FB Page through FB Live on 12 Nov, Thursday, 8.30pm. If you'd like to ask questions about the company's growth and investment potential, you can get the reminder to join the Live broadcast here: https://www.facebook.com/savwee.my/posts/2982571088640583 . There will be Q&A session as well.
On behalf of the Board, M&A Securities wishes to announce that the Company has fixed the issue price for the Placement Shares at RM0.45 each.
The aforementioned issue price of RM0.45 per Placement Share represents a discount of approximately RM0.0405 or 8.26% from the five day volume weighted average market price of Iconic from 2 November 2020 to 6 November 2020 of approximately RM0.4905 per Share.
This announcement is dated 9 November 2020.
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Posted by weirdone > 2020-09-30 15:16 | Report Abuse
everywhere looks awful...