MALAYSIA: Supermax to continue expansion

Supermax Corp Bhd, one of the world’s top four rubber glove producers, will allocate more than RM2.4 billion on capital expenditure (capex) over the next 10 to 15 years to bolster its glove and contact lens manufacturing operations, according to group managing director Datuk Seri Stanley Thai.

“We will also drive human capital development through job creation for highly-skilled workforce, set up high-value medical device manufacturing and invest in automation and high-end technology manufacturing. These are part of our business expansion in Malaysia to drive Supermax into high-end technology manufacturing.

“For glove manufacturing, Supermax has a 10- to 15-year roadmap, which is to increase capacity to 45 billion pieces from 24 billion pieces, with a capex ranging from MYR 1 billion to MYR 1.2 billion,” he told local press reporters.

Thai said the government’s economic policies had made Malaysia among the world’s competitive players.

The government’s policies that encouraged local and foreign firms to expand their businesses, such as the Trans Pacific Partnership (TPP) pact, was commendable, he added.

Supermax will continue to look for market access and opportunities through the TPP pact.

“We gain competitive advantage over regional players such as China, Indonesia and Thailand. We enjoy preferred import duty and save on import costs for raw materials,” said Thai.

He said the opening up of new markets would spur the growth of products and services, reduce bureaucracy and provide transparency as well as enhance provision for import and export licensing procedures.

Thai said Supermax would keep its global manufacturing headquarters in Malaysia due to the government’s sound economic policies.

Source: Daily “The New Straits Times”, Kuala Lumpur; 21 July 2016

(Syed Rashid Ali, Karachi, Pakistan)