Whether war or no war, everyone need CONDOM.
When go to war, soldier need Condom for protection.
When no war. we need Condom for production. (grin)
Maybe I should buy some KAREX - evergreen industry compare to palm oil - cyclical industry.
KAREX IPO - RM 1.85
1st DAY IPO listing closing PRICE - RM 2.45
Current Price: RM 2.90
Avg Volume (4 weeks):692,911
4 Weeks Range:2.81 - 3.02
52 Weeks Range:2.30 - 4.48
Average Price Target:4.09
Price Target Upside/Downside:+1.19
CIMB research report: http://klse.i3investor.com/servlets/ptres/23703.jsp
Karex acquires condom and lubricant distributor in US and Canada for US$6.6 mil
Business & Markets 2014
Written by theedgemalaysia.com
Friday, 08 August 2014 22:51
KUALA LUMPUR (Aug 8)- Karex Bhd is acquiring 55% of US-based Global Protection Corp for US$6.6 million, the condom maker announced to Bursa Malaysia this evening.
The company will acquire the stake from Davin Wedel and has the option to acquire another 15% and 30% equity interest in 2017 and 2020, respectively, via call and put option agreement.
GP is a condom and lubricant distributor in markets such as US and Canada, and it owns the ONE® brand condom.
According to Karex, GP recorded gross revenue of US$10.8 million for the financial year ended December 2013.
Karex said the proposed acquisition is in line with its own brand manufacturing expansion plan and complements its existing OBM products, namely “Carex” and “INNO”.
“ONE® is an established brand since 2004 especially in US and Canada and the brand has been very well received by the younger generations today due to its unique products innovation and creative marketing techniques,” it added.
With the distribution agreement in place, Karex said it will be granted exclusive rights to become the sole distributor of ONE® brand condom as well as the other condom brands in Asian countries (including China), North Africa and certain countries in the Middle East.