AT Systematization Bhd (ATS) has denied the formation of a tripartite partnership to make medical gloves for exports.
This comes as a response to an Aug 4 article in New Straits Times which claimed that ATS is one of two confirmed companies in a larger group, with the other being Green Ocean Corp Bhd. The article also claimed that Kossan Rubber Industries Bhd is believed to be the third party.
The article also pointed at ATS CEO Mak Siew Wei emerging as a new major shareholder in Green Ocean recently.
ATS is an integrated designer and manufacturer of industrial automation systems and precision engineering solutions. Its core business activities are in three segments – fabrication and automation; renewable energy and property; and provision of management services.
“Referring to the article published by the New Straits Times on Tuesday, Aug 4 2020, on a tripartite agreement between ATS and two other companies, the board of ATS wishes to clarify no such agreement exists,” said ATS in a Bursa filing.
The board of ATS also has no comment on the market speculation concerning this issue and has promised to immediately disclose any material information regarding the company’s activities as it becomes available, as per listing requirements.
At 2.05pm, ATS’ shares were at a static 10.5 sen, with 145.3 million shares traded. – Aug 5, 2020
