Top Glove inks MOU to buy Eastern Press for RM47.25m
Its net profit for fourth quarter up 51% to RM98.6 million on higher sales across all regions
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Singapore
MALAYSIA-BASED glove-maker Top Glove Corporation Bhd has entered into a memorandum of understanding on Friday to acquire Eastern Press Sdn Bhd for RM47.25 million (S$15.1 million) in cash, the same day that it announced a 51 per cent rise in net profit to RM98.6 million for the fourth quarter ended Aug 31.
A term sheet was inked between Top Glove and YS Hoong Sdn Bhd, which is the current owner of Eastern Press, a printer and supplier of packaging material.
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