VIP Gloves Limited announced that the Company has entered into a Heads of Agreement ("HOA") with Julian Foo Kuan Lin, major shareholder of Ammorium Resources Sdn Bhd ("Ammorium") to acquire 100% equity interest in Ammorium. The proposed acquisition of Ammorium, which is subject to due diligence, will allow VIP to oversee the construction of the 60-lines double-former medical examination glove integrated facility on 53 acres of land in Tronoh, Perak, Malaysia. Each line is expected to have a capacity of 15 million pieces of gloves per month or a total of 900 million pieces per month and an annual production of over 10.8 billion gloves.