George Kent (Malaysia) Berhad announced that it has received its shareholders' approval to design and build a glove manufacturing plant in Lumut Port Industrial Park, Perak, for a contract sum of approximately MYR 624.1 million plus or minus 10% (excluding sales and service tax). The proposed venture was one of three proposals tabled and approved at the virtual extraordinary general meeting held this afternoon. The proposals were as follows: Proposed diversification of the existing business activities of George Kent and its subsidiaries to include the manufacture, sale and distribution of gloves; Proposed subscription of a 40% equity interest in Dynacare Sdn Bhd, a wholly owned subsidiary of Johan Holdings Berhad, at an issue price of MYR 1.00 per ordinary share in Dynacare; and Proposed right to execute the works from Dynacare for the construction of a manufacturing plant for the Glove Business, including infrastructure, equipment, machinery and ancillary systems for a contract sum of approximately MYR 624.1 million plus or minus 10% (excluding sales and service tax). George Kent will undertake the Works including civil and structural building works, mechanical and electrical works, and the construction of utility connections such as electricity, gas and water supply, as well as wastewater treatment and water recycling facilities. The Group will also design, install, test and commission 42 double-former glove-dipping lines and all ancillary systems at the Plant over 24 months. The Plant will have a production capacity of approximately 12 billion pieces of examination and surgical gloves per annum. Commercial production of the first production line is expected to commence in August 2021 with a total of 6 production lines to be fully operational by December 2021. The remaining 36 production lines will be commissioned and operationalised in stages in 2022 and 2023. The Design and Build Contract will bolster George Kent's construction order book at a time when construction contracts are scarce. The contract is timely and will immediately contribute to the Group's bottom line over the next two years. The Group's expertise, experience and track record of delivering construction projects on time and within budget offer the assurance that the Plant will be completed according to plan.