GEORGE TOWN, Sept 23 — Penang-based property development and real estate investment company, Aspen Group, has decided to increase the production capacity for Phase 1A of the glove manufacturing facility to 1.5 billion pieces of gloves per annum, up from the initially planned capacity of 1.1 billion pieces.
In a statement issued on Sept 22, it said the decision was made by the Aspen Glove Sdn Bhd (AGSB) board based on the initial sales enquiries and discussions with potential buyers globally.
AGSB is a joint venture company between Aspen Group Holdings Ltd’s wholly-owned subsidiary Aspen Vision All Sdn Bhd (AVA) and investment holding company CMY Capital Sdn Bhd (CMY), to diversify Aspen Group’s existing business.
“AGSB is currently negotiating with potential buyers to secure orders on a forward purchase basis and will make further announcements once a definitive sales agreement is entered into,” it said.
It also announced that the piling works and construction for the manufacturing facility at Kulim High-Tech Park have started.
AGSB anticipates to complete the said piling works by the end of October 2020 with the main building works for the facility targeted for completion by March 2021, it said.
Meanwhile, the statement also said that AGSB has officially appointed Calvin Ng as their chief operating officer.
It said that Ng, 48, has served in a number of senior leadership capacities over the past 20 years in the rubber glove manufacturing industry.
“Ng has previously served as the plant director of Mapa Gloves Sdn Bhd, a leading brand specialising in the development and manufacture of household and industrial gloves, where he was in charge of operations management,” it added. — Bernama