KUALA LUMPUR (April 13): Luster Industries Bhd’s share price edged down on Bursa Malaysia this morning despite the manufacturer’s announcement that it had bagged a RM1 billion contract to build glove production lines in the US.
At 9.50am, Luster had lost 2.5 sen to 22 sen, with 117.33 million shares changing hands. It was the most actively traded stock at the time of writing.
The company has inked an agreement to provide engineering, procurement, construction and commissioning for 12 rubber glove production lines in the US.
The agreement was inked between American Nitrile LLC with Glovconcept Sdn Bhd, a 60%-owned unit of Glovmaster Sdn Bhd, which in turn is 56%-owned by Luster.
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