Supermax Corporation Berhad (“Supermax” or “the Company”), is pleased to announce that all the resolutions set out in the ‘Notice of Meeting’ dated 30 October 2019 were duly passed by its shareholders at its twenty-second Annual General Meeting (“AGM”) held today.
With the approvals from the shareholders, the Company will distribute a final dividend on the basis of one treasury share for every sixty-five Supermax shares held in respect of its financial year ended 30 June 2019. The Company estimated it will distribute up to 21 million shares. The entitlement date is 9 December 2019. The share dividend will be credited into the shareholders’ Central Depository Securities account on 8 January 2020.
The Company commented, “Supermax remained committed in growing its business and had allocated RM1.1 billion to increase the production capacity from the current 24 billion pieces per annum to 27.4 billion pieces by calendar year 2020 and to 44.1 billion pieces per annum by calendar year 2024. Our expansion plans and the rebuilding & replacement programme will also improve our production efficiency and EBITDA margin. In addition, all our new production lines are interchangeable, where we will be able to adjust the production quantity of our natural rubber gloves and nitrile gloves based on the market demand. The Company will continue to put its focus on improving revenue and earnings.”