Rubberex secures shareholders' approval to buy Reszon Diagnostics for RM180mil
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KUALA LUMPUR: Rubberex Corp (M) Bhd has obtained its shareholders' approval for the proposed acquisition of 100% equity interest in Reszon Diagnostics International Sdn Bhd for RM180mil.
Its shareholders also approved the proposed diversification into the healthcare business and proposed change of name to Hextar Healthcare Bhd.
Executive director Goh Hsu-Ming, in a filing with Bursa Malaysia, said the acquisition presented a good opportunity for the group to venture into the healthcare sector.,
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“By expanding our product offerings, we hope to raise our profile in the market,” he said.
Goh said while the healthcare business is complementary and synergistic to Rubberex’s core glove business, diversifying into healthcare was 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.
The inter-conditional proposals are expected to be completed within the year.