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Datuk Seri Stanley News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Once-unstoppable glove king loses billions after 89% stock crash

For a moment, Tan Sri Dr Lim Wee Chai’s ascent looked unstoppable. His Top Glove Corp Bhd grew bigger than Malaysia’s banks, telecommunications firms and even the state-owned electricity company during the Covid-19 pandemic. Its share price soared 450% through the first seven months of 2020, leaving high-flyers like Moderna Inc, Zoom Video Communications Inc, Peloton Interactive Inc and Carvana Co in the dust and making Lim a billionaire several times over.

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