24 MAY, KAPAR – Mah Sing Healthcare Sdn Bhd (Mah Sing Healthcare) has received its business license and other relevant licenses/permits, and operation has commenced at its glove manufacturing factory in Kapar, Klang. The first shipment of gloves is expected to be delivered in May/June 2021.
The Group has secured sufficient raw materials to meet orders and interests from its buyers and distributors, which are mainly serving markets such as the United States, Canada, Middle East, Europe, United Kingdom, Japan, China, Korea, Singapore, Russia and Latin America.
In addition, Mah Sing Healthcare has also received the export license from the Malaysian Rubber Board, which would facilitate the export business for the Group’s glove manufacturing operation. Mah Sing Healthcare has obtained 2 FDA Establishment Licenses for Polymer Nitrile Patient Examination Glove and Latex Patient Examination Glove from the US Food & Drug Administration (FDA), which all glove manufacturers are required to register in order to sell gloves in the US. It is also progressing well in obtaining FDA 510(k) Premarket Notification and the Conformitè Europëenne (CE) Marking for export to the US and European markets respectively.
This new milestone places Mah Sing amongst the first few new glove entrants in Malaysia to commence glove production to meet immediate market demand. The rapid progress of Mah Sing’s glove venture is typical of the property developer, which is known for its quick turnaround business model.
Structural increase in glove usage because of new norms, fears of re-infection, higher health awareness, as well as hygiene compliance requirements for healthcare and non-healthcare sectors will continue to support strong demand for the gloves post-pandemic.
Execution of the glove venture is on schedule as there will be six production lines on track to be operational in 2Q2021, followed by another six production lines in 3Q2021. The maximum production capacity of 12 lines is up to 3.68 billion pieces of gloves per annum. These 12 units of new, high speed glove dipping machines – producing at a speed of 38,000 pieces of gloves per production line per hour are under Phase 1 of Mah Sing’s glove manufacturing business.
Mah Sing is appreciative of the Selangor State Government and relevant government agencies for their support, which has allowed the Group to set up its operation in Selangor to meet the acute demand for gloves. If demand continues to outstrip supply, Mah Sing would expand Phase 2 – which consists of another 12 glove production lines. Phase 2 will increase the capacity up to another 3.68 billion pieces of gloves per annum, doubling the initial production capacity. In addition, the Group looks forward to creating more job opportunities for the local operators and supporting the local value chain. Moving forward, Mah Sing aims to be one of the top 5 glove producers in Malaysia in the future.
The glove manufacturing venture is part of Mah Sing’s plan to strengthen and expand its manufacturing division by venturing into the export-oriented, resilient healthcare sector. This will complement the Group’s existing property division as the property market is cyclical and focus more on the domestic market.
Mah Sing A Hive Of Activity, Property Segment Upswing
Mah Sing is seeing improvement in sentiments towards the property market, which can be observed through the positive responses from its recent launches. The Group has set a higher sales target of RM1.6billion for the entire 2021, with 91% of products priced below RM700,000, and 51% below RM500,000. It recorded RM250million new property sales for January and February 2021, and bookings momentum since March 2021 has also picked up substantially.
Mah Sing has been actively scouting for good land, with 2 new acquisitions in 2021 so far. On 4 May 2021, it announced the acquisition of approximately 5-acre prime land in Setapak to be developed into M Astra, which has an estimated gross development value (GDV) of approximately RM618million. Registration of interest is expected to commence in 3Q2021 for M Astra. The mixed development is planned to have 3-bedroom and 4-bedroom units, with indicative built-up ranging from 850sq ft to 1,030sq ft, and will be affordably priced with indicative starting price from RM399,000.
On 18 March 2021, Mah Sing completed the acquisition of the 100 acres of M Senyum new land in Bandar Baru Salak Tinggi, Sepang, which has an estimated GDV of approximately RM656million. Registration of interest and launching are expected to commence in 4Q2021, and based on preliminary plans, it will be a landed residential project comprising mainly double story terrace houses with indicative land size of 20’x60’, 20’X65’ and 20’X70’, with indicative starting price from RM440,000.
Mah Sing also completed the topping up ceremonies of 2 projects in 2021, namely Tower A of M Vertica Kuala Lumpur in January and M Centura in Sentul in May 2021. The topping up ceremonies symbolise the completion of the structure for the developments.