Coronavirus infects more than 1K workers at world’s top surgical glove maker

Andrew Cummings
November 25, 2020

Despite Tuesday's slump, its shares have surged over four fold this year.

This year, the company recorded a record turnover, a outcome of the skyrocketing worldwide demand for personal protective equipment (PPE), such as gloves and masks, with the spread of the Covid-19 pandemic.

However, the world's biggest rubber glove manufacturer, in a reply to Bursa Malaysia, said it does not anticipate a penalty from the delay in delivery.

"Based on advice from the ministry of health, it was agreed at a special meeting today to shut down 28 Top Glove stages to allow the workers to undergo tests and quarantine", said Defence Minister Ismail Sabri Yaakob.

Hartalega Holdings Bhd and Supermax Corp Bhd are the other two top glovemakers in the country.

The firm has about 16,000 factory employees and runs 47 factories in Malaysia, Thailand, China and Vietnam, with 36 producing gloves.

But there has been a cluster of virus outbreaks among Top Glove employees - many of whom are low-paid migrant workers - at factories in an industrial area near the capital, Kuala Lumpur. Its main markets are Europe and North America.

Its remaining 12 factories in the area remained operating at reduced capacities.

"To minimise the impact on our customers, we are allocating sales orders to unaffected factories and rescheduling deliveries where possible", Top Glove Corp of Malaysia said in a statement, according to The Hill.

The company did not immediately respond to an email from Reuters seeking details, including the impact on production. But she said tight supply could push prices up.

"The development of the temporary closure of its facilities in stages is still fluid".

The closures have not yet affected the company's orders, Ng said, adding that she is maintaining her earnings estimates for fiscal year 2021.

Two other analysts predicted a 2 per cent hit to annual profit. Keep comments relevant to the article. Final decision will be at the discretion of the Taipei Times.

Other reports by iNewsToday