Indonesian latex venture

Indonesian latex venture

KUALA LUMPUR (Reuter): Malaysian glove maker Latexx Partners
Bhd said yesterday it has ventured into the production of rubber
gloves in Indonesia through its 99 percent-owned subsidiary, PT
Latexx Technologies.

Following the venture, Latexx is proposing a one-for-two
rights issue of 10 million shares at 3.60 ringgit per share and a
one-for-one bonus issue of 20 million shares, the company said in
a statement.

It also plans an employees' share option scheme of five
million shares and to double the company's authorized share
capital to 100 million ringgit.

PT Latexx would be principally engaged in the manufacture of
rubber latex gloves for medical purposes, high technology
manufacturing and food-based industries upon commencement of its
operations in early 1998, Latexx said.