Hong Seng Consolidated Berhad

What Hong Seng Consolidated Berhad does

Hong Seng Consolidated Berhad, now operating as AIMAX Berhad, is a Malaysian public-listed company (Bursa Malaysia stock code 0041) incorporated in 2001 and headquartered in Petaling Jaya, Selangor. The company operates three business pillars: gloves manufacturing, healthcare supply chain services, and financial services (moneylending). Its core manufacturing subsidiary, AIMAX Healthcare Sdn Bhd, produces 100% synthetic nitrile latex examination gloves via eight double-former glove dipping lines at a plant in Sungai Petani, Kedah, with phased expansion toward what the company describes as Malaysia's first fully integrated glove manufacturing facility. The gloves are sold in bulk packaging across sizes XS to XL and weights 3.0G to 4.5G.

The healthcare pillar provides end-to-end supply chain services, including Covid-19 PCR test kit and antibody testing kit distribution. Notable commercial wins include a RM112.32 million contract to supply PCR test kits to the Ministry of Health Malaysia (announced 2021-07-22) and partnerships with RISB and ATSB for antibody testing through the Neogenix Lab subsidiary. The group also acquired a 51% stake in RZAC (2021-07-24) for antibody testing distribution and formed a JV with LiGNO (2021-07-08) to develop innovative medicinal products.

The financial services pillar offers flexible business financing and moneylending facilities to investment holding companies, SMEs, and start-up enterprises. The company has committed RM1.5 billion (announced 2021-06-26) to build an integrated nitrile butadiene latex plant, signaling a strategic pivot toward vertical integration. The current revenue model is multi-stream: hardware sales (gloves), recurring subscription-like revenue (moneylending facilities), and professional services (healthcare supply chain). Customer concentration skews toward Malaysian government and government-affiliated healthcare institutions, with direct B2B enterprise sales as the primary go-to-market motion and domestic Malaysia as the sole served geography disclosed.

Name

Hong Seng Consolidated Berhad

Legal name

AIMAX Berhad (200101001581 (537337-M))

Website

https://hongseng.com.my

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

251–500 employees

Short description

Hong Seng Consolidated Berhad (trading as AIMAX Berhad) is a Malaysian public-listed company operating three pillars: nitrile glove manufacturing via AIMAX Healthcare, end-to-end healthcare supply chain services, and moneylending facilities for SMEs and investment holding companies, primarily serving Malaysian government healthcare institutions and domestic enterprise customers.

Ownership category

akta.pro rank

Product category

Medical Gloves Manufacturing

NAICS

Surgical Appliance and Supplies Manufacturing (339113), Surgical and Medical Instrument Manufacturing (339112)

SIC

Surgical & Medical Instruments & Apparatus (3841), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)

akta.pro primary industry

Gloves & Mittens Manufacturing (IMAOAFAB)

Keywords

• Nitrile glove manufacturing
• Medical examination gloves
• Healthcare supply chain
• Moneylending services
• Business financing

Headquarters

HQ city

Petaling Jaya

HQ country

Malaysia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Gloves Manufacturing & Sales: Manufacturing and sale of nitrile examination gloves through AIMAX Healthcare Sdn Bhd subsidiary. Products sold in bulk packaging (100 or 200 pcs per box, 10 boxes per carton) in sizes XS to XL.
2. Moneylending / Business Financing: Providing flexible financing schemes and business loans to investment holding companies, SMEs, start-up enterprises, and other customers through moneylending operations.
3. Healthcare Supply Chain Services: End-to-end integrated healthcare supply chain specialist providing medical and healthcare related supply chain management services including distribution of Covid-19 PCR test kits and antibody testing kits.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

AIMAX Berhad (formerly Hong Seng Consolidated Berhad) manufactures and sells nitrile examination gloves through its AIMAX Healthcare Sdn Bhd subsidiary at a plant in Sungai Petani, Kedah. It also operates an end-to-end integrated healthcare supply chain service, including distribution of Covid-19 PCR and antibody test kits, and provides business financing and moneylending facilities to investment holding companies, SMEs, and start-up enterprises through its Financial Services pillar.

Product overview

AIMAX Berhad operates three distinct business pillars: (1) Gloves Manufacturing — produces nitrile examination gloves through subsidiary AIMAX Healthcare Sdn Bhd at a plant in Sungai Petani, Kedah; (2) Healthcare — provides end-to-end integrated healthcare supply chain services including distribution of COVID-19 testing kits and digital healthcare ecosystem development; and (3) Financial Services — offers moneylending facilities for investment holding companies, SMEs, and start-up enterprises. The company is building Malaysia's first fully integrated glove manufacturing facility with a sustainable end-to-end production supply chain.

Differentiator

Problem solved

Functional benefit

Brands

• AIMAX Healthcare: Nitrile glove brand producing synthetic nitrile latex examination gloves for healthcare and industrial use.
• HS Bio
• Neogenix Lab

Products and services

• Nitrile Examination Gloves (AIMAX Healthcare)
• Healthcare Supply Chain Services
• Moneylending / Business Financing

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• RZACcoreStrategic or Co-development Partner · 24 July 2021Hong Seng acquired 51% stake in RZAC to expand its business portfolio and capabilities. This strategic investment was part of Hong Seng's diversification strategy into new healthcare-related business segments.
• LiGNOcoreStrategic or Co-development Partner · 8 July 2021Hong Seng formed a joint venture with LiGNO for developing and commercializing innovative medicinal products. The partnership aimed to develop healthcare products and leverage LiGNO's technology and expertise in the medicinal products sector.
• RISB (Rezeki Insan Samudera Berhad)coreStrategic or Co-development Partner · 5 July 2021Hong Seng's Neogenix Lab signed an agreement with RISB to provide Covid-19 antibody testing services, expanding healthcare testing capabilities through strategic partnerships.
• ATSB (Agensi Subsidi Bersatu)coreStrategic or Co-development Partner · 5 July 2021Hong Seng's Neogenix Lab partnered with ATSB to provide Covid-19 antibody testing services, enabling wider distribution of testing capabilities through government-affiliated organizations.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Kossan Rubber Industries Berhad: Malaysian integrated glove manufacturer producing nitrile and latex gloves. Comparable in product category and Malaysian manufacturing footprint, with established global footprint.
• Hartalega Holdings Berhad: Leading Malaysian nitrile glove manufacturer with proprietary Next Generation technology. Direct competitor in the same nitrile glove category, with significantly larger capacity and stronger customer relationships.
• Top Glove Corporation Berhad: World's largest rubber glove manufacturer, listed on Bursa Malaysia. Directly comparable in nitrile glove manufacturing, with vastly greater scale and global distribution — the dominant peer against which AIMAX's glove ambitions are benchmarked.
• Supermax Corporation Berhad: Integrated Malaysian glove manufacturer with own brand distribution. Similar business model combining manufacturing with distribution, though at much larger scale.

Direct peers

• Careplus Group Berhad: Malaysian glove manufacturer with own-brand strategy. Comparable in combining manufacturing with downstream healthcare distribution, similar multi-pillar orientation.
• Comfort Gloves Berhad: Malaysian nitrile glove manufacturer of similar mid-tier scale. Comparable in product focus, manufacturing footprint, and target customer segments.
• Rubberex Corporation (M) Berhad: Malaysian-based mid-tier nitrile glove manufacturer. Most directly comparable in scale and product positioning to AIMAX's glove manufacturing segment.
• Brightway Holdings Berhad: Malaysian nitrile glove manufacturer of comparable size. Direct competitor in the same product category with overlapping customer base in healthcare and industrial segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/hong-seng-consolidated-berhad

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hong Seng Consolidated Berhad