Top Glove
Top Glove Corporation Berhad (MYX: 7113) is a rubber glove manufacturer. The company owns and operates 40 manufacturing facilities in Malaysia, Thailand, China and marketing offices in Malaysia, United States and Germany.[1]
| Publicly traded company | |
| Traded as | MYX: 7113 |
| ISIN | MYL7113OO003 |
| Industry | Rubber |
| Founded | 1991 |
| Founder | Tan Sri Dr Lim Wee Chai |
| Headquarters | Setia Alam, Malaysia |
Number of locations | 40 (as at October 2018) |
Key people |
Tan Sri Dr Lim Wee Chai, Executive Chairman Dato Lee Kim Meow, Managing Director Mr Lim Cheong Guan, Executive Director |
| Products | Rubber gloves |
Production output | 60.5 billion pieces (as at October 2018) |
Number of employees | 17,000 |
| Website |
www |
The company was founded in Malaysia in 1991 by Tan Sri Dr Lim Wee Chai, as a modest business venture of 1 factory, 1 glove production line and 100 staff. Top Glove has since emerged as the world's largest manufacturer of gloves, commanding 25% of the world market share. With its eye on the next level of success, Top Glove now aspires to increase its global market share to 30% by 2020. It is also aggressively expanding its business scope and on the lookout for M&A opportunities in similar and related industries.[2]
- Number of production lines: 648 lines as at October 2018
- Countries of export: 195 countries
- Number of customers: 2,000
Top Glove was listed on the Bursa Saham Kuala Lumpur in 2001, and within a span of slightly more than a year, Top Glove Corporation Berhad's listing was promoted from the Second Board to the Main Board of the Kuala Lumpur Stock Exchange on May 16, 2002. On 28 June 2016, Top Glove was also listed on the Mainboard of the Singapore Exchange. As at 31 August 2018, Top Glove had a shareholder fund of RM2.4 billion and an annual turnover of about RM4.2 billion.
Top Glove’s paid up capital stood at RM787.7 million as of October 2018 while its market capitalisation was RM13.4 billion as at 10 October 2018.
Top Glove is also one of the component stocks of the MSCI Global Standard Index, FTSE Bursa Malaysia Mid 70 Index, FBM 100 Index, FBM Emas Index, FBM Emas Syariah Index, FTSE Bursa Malaysia Hijrah Shariah Index and FTSE4Good Bursa Malaysia Index, and Singapore Exchange.
The company collaborates closely with Government agencies and Ministries to keep itself abreast of the latest developments in rubber research technology.
Keeping the future in view, Top Glove targets to capture 30% of the world market by 2020 and aspires to become a Bursa Top 20 Company by 2020 as well as a Fortune Global 500 Company by 2040. To support its ambitious growth agenda, Top Glove is constantly on the lookout for M&A opportunities and joint ventures, both in the glove business and other synergistic businesses. On April 4, 2018, Top Glove concluded its acquisition of leading surgical glovemaker, Aspion Sdn Bhd, its biggest M&A to date, which will see Top Glove emerging the world’s largest surgical glove manufacturer further solidifying its leadership position as the world’s largest manufacturer of gloves.
