MALAYSIA-based Rubberex Corporation has recently cancelled a proposed corporate exercise involving the purchase of glove business for RM113mil from Alliance Rubber Products Sdn Bhd.
Rubberex announced that the deal involving the acquisition of the glove business and all the production facilities including plant, machinery and building, was put off on mutual consent with Alliance, adding that the earnest deposit of RM100,000 has been refunded by the latter.