PETALING JAYA: Notion Vtec Bhd’s wholly owned subsidiary Notion Venture Sdn Bhd has entered into a sales contract to supply disposable nitrile examination gloves to a European company which is a supplier of personal protection equipment (PPE) for a sum of US$82.2 million (RM337.8 million).
“This is a result of the PPE marketing team’s efforts following the company’s financial result announcement for the third quarter ended June 30, 2020 commentary that the group will be looking at trading and manufacturing opportunities in disposable nitrile gloves besides the face mask business,” Notion Vtec said in a stock exchange filing today.
The contract is for two tranches of gloves to be delivered ex-works Malaysia and exported to Europe for meeting the medical needs in Covid-19 affected areas. The deal is expected to have positive effect on the earnings per share and net assets per share of Notion Vtec for the first quarter ending Dec 31, 2020 until its expiry.
“The board of directors is of the opinion that the acceptance of the sales contract is in best interest of the company as it is in line with the company’s new diversification direction,“ Notion Vtec said.
