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KUALA LUMPUR: Integrated construction engineering company Vizione Holdings Bhd aims to push glove-making arm SSN Medical Products Sdn Bhd’s pre-tax profit (PBT) to up to RM35 million in 2021 and RM100 million in 2022.
Visione has acquired a 51% stake in SSN Medical Products via its wholly owned subsidiary, VIP Index Sdn Bhd, for RM5 million.
Managing director Datuk Ng Aun Hooi said acquisition will provide a guaranteed PBT of RM15 million in the financial year ending Dec 31, 2021.
“With SSN Medical Products on board, Vizione is now equipped with a new growth engine that will elevate us to the next great height,” he said in a briefing today.
He said SSN Medical Products has been operating since 1997, and has a stable global client base and solid supply chain network.
Ng said the acquisition is a value-added move for the group, adding that Vizione has allocated RM30 million in capital expenditure for SSN Medical Products to expand its capabilities.
“The demand for gloves has continued to be very strong due to the Covid-19 pandemic. Our goal is to triple glove production volume from the current 500 million pieces per annum to 1.6 billion pieces within the next 18 months,” he said.
Ng noted that glove demand will still be robust and elevated due to widespread health awareness globally even after a Covid-19 vaccine has entered the market, as well as the increased use of gloves in the medical field.
SSN Medical Products’ gloves have obtained certifications to be exported, including to Europe, the United States, China and South Africa. – Bernama
