1. What are some notable developments that Top Glove’s shareholders can look forward to?
As the world’s largest manufacturer of gloves, Top Glove has a world market share of 26%. Besides Malaysia, its manufacturing operations are done out of Thailand, China and Vietnam as well. It has a comprehensive product range, which now includes a non-glove segment comprising condoms, face masks, dental dams and exercise bands.
We believe that global demand for gloves will continue to be robust, growing by c.25% in 2021, especially given the current pandemic. Average Selling Prices (ASP) have also been increasing monthly, along with higher raw material and operating costs. We have since allocated 30% of our total capacity for spot orders and are fully sold for the next three months.