Mah Sing is top active counter; rises 12pc in early trade

Mah Sing Group Bhd was the most actively traded counter in the local bourse this morning. — Bernama pic

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KUALA LUMPUR, April 23 — Mah Sing Group Bhd was the most actively traded counter in the local bourse this morning following its listing news. 

At 9.30am, the stock jumped 12 per cent or 11 sen to RM1.05 with more than 92 million units changing hands.

Yesterday, founder and group managing director Tan Sri Leong Hoy Kum said the company aims to list its glove manufacturing and trading arm, Mah Sing Healthcare Sdn Bhd, on the Hong Kong Stock Exchange within five years. 

“We are committed to being a long-term player and delivering greater value to our shareholders, as well as striving to be one of the prominent glove manufacturers in the industry.

“We are also exploring the possibility of listing our manufacturing division separately from the group to further unlock its value,” he said.

Mah Sing is eyeing the Hong Kong market because the capitalisation of companies there is almost 15 times more than that of Bursa Malaysia.

“In terms of trading volume, it is almost 20 times more and it is also easier to have business contacts and do more mergers and acquisitions since it is an international market,” said executive director Datuk Steven Ng Poh Seng.

Mah Sing had also announced the conclusion of the testing and commissioning of its first two glove production lines at its first glove manufacturing factory in Klang.

Operations are expected to start next month, and the company expects its first shipment of gloves to be delivered in the next two months. — Bernama