SYDNEY, AUSTRALIA: VIP Gloves Limited has entered into a Heads of Agreement with Julian Foo Kuan Lin, major shareholder of Ammorium Resources Sdn Bhd to acquire 100% equity interest in Ammorium. Ammorium, incorporated in Malaysia in 2015 holds a 10- year tax-exempt status and is fully licensed to commence glove manufacturing operations. The proposed acquisition…
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VIP Gloves constructing new production facility of 2.5 billion pieces of gloves per annum
SYDNEY: VIP Gloves Limited planned to construct a new production facility to increase its glove production operations. VIP Gloves plans to build up to ten double-former lines with annual production capacity of estimated 2.5 billion pieces of gloves per annum. The new facility will be built on land owned by the Company’s 100% subsidiary KLE…