Dear Valued Stakeholders,
Welcome and thank you for visiting Top Glove’s website.
Our journey began in 1991 with only 1 factory, 1 glove production line and 100 employees. Today, we have transformed into an international business attaining 26% of the world market share for rubber gloves with production bases in Malaysia, China, Thailand and Vietnam and marketing offices in these countries as well as Germany, USA and Brazil. As the world’s largest manufacturer of gloves, we presently have 47 factories, 765 production lines and a production capacity of 93 billion pieces of gloves per annum.
Having been in business for 3 decades this 2020, we are a young and dynamic company. Our continued focus on innovation, digitalisation process improvements and service orientation continues to drive our performance upwards year after year.
Our prospects including the glove industry remain promising. Global demand for gloves is growing steadily at 10% to 12% per annum driven by strong market fundamentals.
We are guided by our core values which include promoting our Business Ethics of Honesty, Integrity and Transparency and bonded by our Corporate Values of Respect, Integrity, Value, Empowerment and Relationship, represented by the acronym R.I.V.E.R. Health is truly wealth as we practise Top Glove’s 5 Quality Wells: Clean Well, Eat Well, Work Well, Exercise Well and Sleep Well daily, so we remain fit and well-positioned to contribute positively and compete effectively.
Our journey towards excellence is quickly gaining momentum. We have set our sights even higher and aim to become a Fortune Global 500 company by 2030.
Top Glove Delivers Remarkable and Healthy Financial Performance in 2QFY2021
In the Second Quarter (from 1 December 2020 to 28 February 2021), Top Glove delivered another excellent quarter as global glove demand continued to soar. Our achieved milestones, at a glance:
Profit achieved for 1st half of FY2021 exceeds Group’s total profit for past 20 years.
2QFY2021:
- Highest ever quarterly Sales Revenue of RM5.37 billion, 336% surge from 2QFY2020 and 13% quarter on quarter
- Profit After Tax of close to RM2.9 billion, increase 24 fold from FY2020, and more than double quarter on quarter
Committed to creating value for its public shareholders, Top Glove will be commencing payment of Special Dividends in 2QFY21, totalling to a 70% dividend payout.
To cater to the global glove demand that is expected to increase post pandemic, Top Glove has earmarked RM10 billion for CAPEX over the next 5 years to increase its annual production capacity to over 200 billion pieces of gloves. The Group also launched a year long recruitment drive offering some 9,000 job opportunities with aims to bring its 1:4 staff to worker ratio to 1:1 by FY2025.
Top Glove continues to achieve new milestones as its corporate credit rating was upgraded by Malaysian Rating Corporation Berhad (MARC) from AA to AA+. This is the highest rating assigned to a Malaysian manufacturing company to date. We also ranked 2nd highest among Malaysian patent applicants for the year 2020 alongside several established universities, institutions and corporations, awarded by the Intellectual Property Corporation of Malaysia (MyIPO) under the Ministry of Domestic Trade and Consumer Affairs.
On the Environment, Social and Corporate Governance (ESG) front, Top Glove was recognized for its achievements in environmental stewardship, garnering an award for Notable Achievement in Environmental Performance at the prestigious Prime Minister’s Hibiscus Award in February 2021. Top Glove believes in doing well so we can continue to do good. Thus, we continue to dedicate resources to improving worker welfare and ensuring it is a beacon of best practices within the glove industry.
Our remarkable 2QF2021 performance is attributed to our committed Top Glove team whose hard work has enabled us to maneuver through the challenges and fulfil the growing demand from global customers. We will continue doing our best to facilitate the uninterrupted delivery of our life saving gloves to those in need.
Thank you
TOP GLOVE, TOP QUALITY, TOP EFFICIENCY, GOOD HEALTH, SAFETY FIRST & BE HONEST
Tan Sri Dr Lim Wee Chai
Executive Chairman
9th March 2021