26/09/2012

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MALAYSIA: Top Glove to invest RM3b over 15 yrs

Its chairman Tan Sri Lim Wee Chai said the company, which has a landbank of over 80 hectares (200 acres) in Meru, Kapar, Banting and Ipoh, intends to invest in building between two to three factories a year to cater to customer demand.

"Apart from building the factories, the RM3 billion will also be used for investing in new machinery, technology as well as research and development, to reduce the dependency on foreign workers gradually.

"We are also going to invest RM40 million in automation for automatic stripping and packing gloves production lines," he told a press conference at Top Glove Corporation Bhd in Klang on 25 Sept. 2012.

Also present was Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed.

Lim said the RM3 bilionl investment will generate an estimated export sales revenue of RM75 billion for Malaysia.

Mustapa who paid an official visit to Top Glove Corporation said the company is expected to face challenges in respect of the national minimum wage policy, but is confident of maintaining its
position as the world's largest rubber gloves manufacturer.

He said he was told by the company that it will employ more graduates and researchers for greater operational efficiency.

Source: Daily "The Star", Kuala Lumpur, through Bernama (Malaysian National News Agency); 15 Sept 2012

(Syed Rashid Ali, Karachi, Pakistan)

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