KUALA LUMPUR, Sept 14 — Rubberex Corp (M) Bhd has secured a greenlight from its shareholders to acquire 100 per cent equity interest in Reszon Diagnostics International Sdn Bhd for RM180 million, its subsequent proposed diversification into the healthcare business, and proposed change of name to Hextar Healthcare Bhd.
Executive director Goh Hsu-Ming said the acquisition presents an opportunity for the group to venture into the healthcare sector, seeing that the pandemic has raised overall health and safety awareness and created a high demand for healthcare-related products and services in the market.
“By expanding our product offerings, we hope to raise our profile in the market. While the healthcare business is complementary and synergistic to Rubberex’s core glove business, diversifying into healthcare is in line with the group’s overall growth strategy of venturing into other income-generating businesses that are profitable and sustainable for the long-term,” he said in a statement shared with Bursa Malaysia today.
Goh noted that as a testament to Rubberex’s commitment to the healthcare sector, the company proposed and obtained approval from shareholders for a name change to Hextar Healthcare Bhd.
Rubberex owner and sole largest shareholder Datuk Eddie Ong Choo Meng said the name change would better reflect the group’s core business and future undertakings into the broader healthcare sector moving forward.
“We believe that Rubberex’s new identity, under the larger Hextar family, will pave the way for new growth trajectories in terms of markets, networks and distribution channels, both here in Malaysia and globally,” he said.
The inter-conditional proposals are expected to be completed within the year.
At close, shares of Rubberex rose 2.38 per cent to 0.43 sen with 1.53 million shares transacted. — Bernama
