Hot Stock Top Glove edges lower after JV to provide clinical and specialist medical services
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Hot Stock Top Glove edges lower after JV to provide clinical and specialist medical services
- Hot Stock
[size=28]Top Glove edges lower after JV to provide clinical and specialist medical services
By Surin Murugiah / theedgemarkets.com | March 23, 2016 : 9:39 AM MYTKUALA LUMPUR (March 23): Top Glove Corp Bhd shares edged lower this morning after the world's largest rubber glove maker said it was forming a joint venture (JV) with DHS Emergency Asia Sdn Bhd to provide clinical and specialist medical services in Malaysia.
At 9.19am, Top Glove dipped 0.4% or 2 sen to RM5.02 with 526,800 shares done.
In a bourse filing, Top Glove said its wholly-owned subsidiary Top Glove Sdn Bhd (TGSB) has entered into a JV agreement with DHS today, which will see the JV partners acquiring TG GD Medical Clinic Sdn Bhd as the JV company. The ultimate equity structure of the JV is 75% TGSB and 25% DHS.
Top Glove said Global Doctors Malaysia will grant the sole and exclusive transferable rights, licence and privilege to use the intellectual property and know-how developed by the hospital chain to TG GD for a fee that will be mutually agreed on by both TGSB and DHS.
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