Analyst Research Report Snapshot


Company Update – Hartalega (ADD, maintain) - Embark to the next phase of expansion plans




Affin Hwang Investment Bank Bhd


12 Jun 2013





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Harta finally sealed the land deal with a price tag of RM96.9m Hartalega (Harta) announced that its wholly-owned subsidiary Hartalega NGC, which is involve in the Next Generation Integrated Glove Manufacturing (NGC) project, has entered into a sale and purchase agreement with Kumpulan Tanjung Balai Sdn Bhd for the acquisition of a piece of land located in Sepang, Negeri Sembilan. The purchase price for the piece of land, measuring 120 hectares is RM96.9m. The purpose of the land is for Harta to expand its capacity, producing examination and speciality gloves. The purchase will be funded by both internal generated funds and bank borrowings of RM100m.

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