Aspen sets up new unit for glove R&D

ASPEN Glove, a unit of mainboard-listed Aspen (Group) Holdings, has incorporated a new subsidiary for the research and development (R&D) of medical engineering technology and supply-chain management.

Called AG Medical Tech, the subsidiary will be primarily involved in R&D efforts for the manufacturing and distribution of medical-grade latex and nitrile gloves. The unit will also own, register and manage the related intellectual property rights.

Meanwhile, Aspen Glove will develop a blockchain-based supply-chain management to ensure better traceability. Aspen is also in talks with key partners and exploring collaborations wit universities and research institutes both overseas and at home.

Shares of Aspen closed flat at S$0.22 on Thursday.