Malaysian nitrile glove-marker Hartalega Holdings Bhd plans to up annual production of its gloves from the current 27 billion pieces to 32 billion pieces by March 2019.
Hartalega executive chairman Kuan Kam Hon said the group will stay focused on organic growth in the absence of merger and acquisition (M&A) targets.
“No M&A and no targets have been identified at this moment. We are purely on organic growth,” Kuan said.
“Currently, this year FY18 (ending March 31), we have about 27 billion pieces. In FY19, we are targeting to produce 32 billion pieces,” he said.
At the EGM recently, Hartalega secured shareholders’ approval for its proposed one-for-one bonus share issue, involving up to 1.71 billion new shares.