Wednesday, 10 Mar 2021 10:00 AM MYT
A worker collects rubber gloves at Top Glove’s factory in Klang, outside Kuala Lumpur, March 11, 2008. Reuters pic
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KUALA LUMPUR, March 10 ― Top Glove Corp Bhd said an independent consultant has found there is “no longer” any indication of systemic forced labour at the world s largest medical glove maker after it took steps to address US allegations of such practices.
The firm announced the findings yesterday as it posted a fourth consecutive quarter of record profit ― benefiting from soaring demand for its gloves during the Covid-19 pandemic ― and revealed it aimed to list shares in Hong Kong in May or June.
Tuesday, 09 Mar 2021 02:08 PM MYT
A worker at a production line in Top Glove factory in Shah Alam August 26, 2020. Reuters pic
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KUALA LUMPUR, March 9 Malaysia’s Top Glove Corp Bhd posted a record profit for the fourth consecutive quarter in the December-February period as continued demand for gloves globally boosted sales, the company said on Tuesday.
Net profit soared 2,380 per cent to RM2.87 billion in the second quarter of the financial year from RM115.7 million a year ago, it said.
The world’s largest medical gloves manufacturer also posted record revenue of RM5.37 billion in the second quarter, up 336 per cent from a year ago.
Wednesday, 13 Jan 2021 11:35 AM MYT
The investment bank said while it believes that glove makers’ fundamentals remain steady for the next few years, they offer limited upside at their current share prices. Reuters pic
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KUALA LUMPUR, Jan 13 AmInvestment Bank Bhd foresees the average selling prices (ASP) for rubber gloves to decline as there is no longer a rush for gloves compared to what happened at the beginning of the pandemic.
Nonetheless, it expects the ASP will stabilise at a higher level than the pre-pandemic level due to the broader usage of gloves. Moreover, capacity expansion from glove companies will be able to cope with the future demand.