Published: Thursday July 19, 2012 MYT 3:34:00 PM
Top Glove to invest RM3b over 15 yrs to expand
KUALA LUMPUR: Top Glove Corp Bhd plans to invest RM3bil over the next 15 years in a move to boost its production capacity and expand into upstream and downstream.
The world's largest glove maker said on Thursday it expected the RM3bil would be used to invest in hi-tech production facilities as well as invest in R&D, upstream and downstream activities.
Top Glove said this significant investment was recognised as an Entry Point Project by Performance Management and Delivery Unit (Pemandu) under the Economic Transformation Programme (ETP).
The statement was released at the ground breaking ceremony for corporate office building in Setia City, Shah Alam.
The 23-floor Grade A and Green Building Index certified building would be built on a two-acre site. It is near its 16 plants in Meru, Klang and port facilities.
Top Glove chairman Tan Sri Lim Wee Chai said Top Glove Tower would be a world class corporate office building providing Grade A and Green Index Building certified corporate office space in Setia City.
"Upon completion, we aim to centralise most of our management personnel in Top Glove Tower to improve communication and operational efficiency," he said.
The building would comprise of 14 floors of offices, two floors of retail and seven floors of car park spaces and it is expected to be completed by December 2014.