Supermax clinches NHS licence to supply gloves to UK hospitals

by **Cals** Thu 12 Nov 2015, 23:32

Supermax clinches NHS licence to supply gloves to UK hospitals

By Sangeetha Amarthalingam / theedgemarkets.com | November 12, 2015 : 9:16 PM MYT

KUALA LUMPUR (Nov 12): [size=16]Supermax Corp Bhd ([You must be registered and logged in to see this image.] Valuation: 1.40, Fundamental: 1.00)'s receipt of a licence to supply medical gloves to the National Health Service (NHS) in the United Kingdom (UK) is expected to contribute positively to its earnings and net assets for four years from the financial year ending June 30, 2017.

In a filing with Bursa Malaysia today, Supermax said its UK-based wholly-owned Supermax Healthcare Ltd was awarded the licence by NHS, which covers every UK hospital.

Through the award, Supermax would be able to benefit from the business that sees an annual medical glove consumption worth about £50 million (RM332 million).

"With this licence, Supermax will be in a position to capture a share of the lucrative NHS business. There will be no immediate significant financial impact in the coming quarters from the award.

"Going forward, it is expected to contribute positively towards the earnings and net assets of Supermax group for the financial years ending June 30, 2017, 2018, 2019 and 2020," it said.

The group said the award will not have any effect on the share capital and substantial shareholders' shareholding of the company.

Supermax shares rose 13 sen or 5.6% to close at RM2.45 for a market capitalisation of RM1.55 billion.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

[/size]