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Rubber glove solutions provider Flexidynamic Holdings Bhd (KL:FLEXI) has proposed to expand its business in the industry by acquiring a manufacturer of glove formers.
In a bourse filing on Thursday, the group said it has entered into a memorandum of understanding (MOU) with HARPS Investment Asia Pte Ltd (HIA) for the acquisition of Formtech Engineering (M) Sdn Bhd.
For the latest development project, Magma Group expects a gross development value (GDV) of about RM439.83 million, with an estimated gross development cost (GDC) of RM249.79 million.
The project is expected to generate a gross profit of about RM110.26 million over a 42-month period.
The Malaysian furniture industry are continues thriving, with timber product exports rising 4.9 per cent, reaching RM22.9 billion in 2024, and wooden furniture exports valued at RM9.9 billion, growing 8.4 per cent from the previous year.
