KUALA LUMPUR: ACE market-listed INIX Technologies Holdings Bhd
(Inix) has acquired a 51% stake in L&S Gloves Sdn Bhd (L&S Gloves) with an investment of RM50mil.
Inix has inked a memorandum of agreement with L&S Gloves Sdn Bhd, which has two operational production lines in Beranang, Selangor.
Inix executive director Siva Kumar Kalugasalam said its foray into gloves will contribute between 40% and 50% of total group revenue.
“Once we have expanded all production lines, the rubber glove factor will the largest revenue contributor,” he told reporters after the MoA signing ceremony.
...
