WORK WELL BY BECOMING YOUR OWN REFEREE
I have been a golfer for many years. Over time, I have come to realise that the basic rules of the sport is very applicable for character development. The rules of the sport are pre agreed and the sides need to self referee themselves.
Any golfer will tell you that this sport forces us to self referee and self regulate our behaviour. We don’t necessarily need a third party to check on us. We know when the game starts, we know the handicaps, we know the next person’s turn and finally we know who is the winner and when the game is over.In short you are the player and the referee.
This rule is applicable and relevant in running of any organisation. Systems and processes, audit and compliance mechanisms are added oversights on human characters and behaviours. These checks and balances ensure we behave right. Countries and businesses invest a lot in them. People can cheat no matter how many layers of oversight we implement and institute.
This is why at Top Glove we emphasize the values of honesty, integrity and transparency every day and in every meeting. Why?
Our character defines how well we manage our public and personal relationships. In the final analysis, we are answerable to ourselves and our conscience for all our actions first and foremost, followed by the people who may be affected by our actions : our family, friends, colleagues, shareholders and stakeholders.
As we build Top Glove towards becoming a Forbes and Fortune Global 500 company i.e. Top Glove of the 21st Century, recruiting and nurturing employees with the highest integrity and ethics will be front and centre in our Environmental, Social, Governance (ESG) initiatives and commitments.
Further and in line with our commitment of doing well by doing good, I am pleased to share that we have delivered a strong performance for 3QFY2021. Top Glove’s Sales Revenue was RM4.16 billion, up 147% higher year on year, while Profit After Tax came in at RM2.06 billion, 490% higher than 3QFY2020.
On a 9 months basis, the Group’s performance was robust. Sales Revenue was RM14.29 billion, up 246% while Profit After Tax was RM7.35 billion, surging 11.7 times year on year. We declared a dividend for 3QFY2021 of 18 sen per share, comprising a special dividend payout of 21% plus 50% per the Company’s dividend policy.
Sales Revenue and Profit After Tax figures were softer quarter on quarter, on the back of adjustments to average selling prices (ASPs), in line with glove market pricing trends, as well as a temporary halt in shipments to the U.S. from Malaysia, in compliance with U.S. Customs and Border Protection (CBP) requirements. Nonetheless, global glove demand remains resilient as glove usage continues to rise, driven by the ongoing pandemic.
The task ahead is clear. We must move forward together and as a strong team in building a more resilient and stronger Top Glove every day.
Thank you.
Tan Sri Dr Lim Wee Chai
Executive Chairman
16 June 2021