Top Glove sues Adventa Capital, two directors of recent buy for up to RM715m
The rubber glove manufacturer alleges 'fraudulent misrepresentations' by the directors
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Singapore
MALAYSIA'S Top Glove Corporation on Friday said it has sued Adventa Capital and two directors of a recently-acquired firm - Low Chin Guan and Wong Chin Toh - for up to RM715 million (S$240 million) over an alleged "conspiracy" to defraud Top Glove and its unit over the acquisition of Aspion earlier this year.
Top Glove, the world's largest manufacturer of rubber gloves, in January said it would acquire Aspion for RM1.37 billion from Adventa Capital. It said then the acquisition would turn it into the world's largest maker of surgical gloves as well.
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