Brief: Aspen (Group) Holdings Says Intends To Diversify Existing Scope Of Core Business

Aspen (Group) Holdings

12/08/2020 15:37

Aug 12 (Reuters) - Aspen (Group) Holdings Ltd  ASPE.SI :
    * INTENDS TO DIVERSIFY EXISTING SCOPE OF CORE BUSINESS
    * PROPOSED DIVERSIFICATION TO INCLUDE MANUFACTURING AND
DISTRIBUTION OF RUBBER GLOVES & OTHER RELATED ACTIVITIES
    * UNDER PHASE 1(A), TARGETS TO BRING TO MARKET 1.1 BILLION
PIECES
OF GLOVES PER ANNUM
    * EXPECTS TO INVEST ABOUT 105 MILLION RGT TO COMPLETE PHASE
1(A)
    * BELIEVES DEMAND FOR GLOVES LIKELY TO REMAIN FIRM TILL END
2021
    * FOR UNDERTAKING PROPOSED NEW BUSINESS, AVA, CMY CAPITAL
AND
INDIVIDUAL HAVE AGREED TO PARTICIPATE IN A JV ARRANGEMENT
    * FOR PHASE 1(B), INTENDS TO RAMP-UP CAPACITY TO 3.5 BILLION
PIECES OF GLOVES PA BY Q2 2022 & SEES INVESTMENT OF 40 MILLION
RGT

Source text for Eikon:  urn:newsml:reuters.com:*:nSNZ3mlHLg
Further company coverage:  ASPE.SI 

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