Strategic Divestment of Formtech – Strengthening Our Core Business

Dear valued customer,

We wish to inform you that HARPS Global has entered into a Memorandum of Understanding (MoU) with Flexidynamic Holdings Bhd for the proposed sale of our subsidiary, Formtech Engineering (M) Sdn Bhd (“Formtech”).   Formtech is a manufacturer of ceramic hand formers used in the production of gloves and is based in Nilai, Malaysia. Both parties anticipate finalizing the transaction in 2025.

This decision marks a strategic move as HARPS Global sharpens its focus on its core business – manufacturing, delivering, and marketing high-quality gloves. This also allows HARPS Global to focus on bringing new protective products to market in the future. The divestment of Formtech aligns with the long-term vision to consolidate resources, streamline operations, and strengthen capabilities in areas where HARPS can create the greatest value for its customers and stakeholders.  HARPS Global is confident that under Flexidynamic Holdings Bhd, Formtech will continue to thrive and serve the glove manufacturing industry with excellence.

HARPS Global is committed to keeping you informed throughout this process. Should you have any immediate questions or require further clarity, please reach out to your dedicated sales representative.

Thank you for your continued dedication and support as HARPS advances toward a stronger, more focused future.

Best regards,

Haziq Zairel Oh
Chief Executive Officer
HARPS Global