Top Glove Corporation Bhd

(Company No. 199801018294 [474423-X])

Top Glove Media Contact:

Michelle Voon
[email protected]
+603-3362 3098 Ext 2228
+6016 668 8336

Investor Contact:

Qiuvy Chong
[email protected]
+603-3362 3098 Ext 2234
+6012 265 8973

PRESS RELEASE

For Immediate Release

TOP GLOVE RESPONDS TO REUTERS REPORT TITLED ‘MALAYSIA ENFORCES REQUIREMENT FOR IMPROVED WORKER LODGING TO REIN IN COVID-19’ BY THE STRAITS TIMES ON 18 FEBRUARY 2021

 

Dear Editor,

Shah Alam, Saturday, 20 February 2021 We refer to a reporting by Reuters titled, ‘Malaysia enforces requirement for improved worker lodging to rein in Covid-19’ which was published by The Straits Times (https://www.straitstimes.com/asia/se-asia/malaysia-enforces-requirementfor-improved-worker-accommodation-to-rein-in-covid-19) on 18 February 2021 (Thursday).

Top Glove wishes to clarify we have swiftly and effectively implemented several remedial actions to ensure the safety and well-being of our workforce. Ensuring that our workers can live in a decent standard of accommodation is a high priority for Top Glove. The Company has resolved the issue of overcrowding of its workers’ lodgings.

To ensure Top Glove is a beacon of best practices in our field, we have appointed Impactt, an independent and highly respected ethical trade consultancy, to assess our progress and offer guidance to us in this particularly important area.

 

Our remedial plans are:

1.      Current

i.      We had previously invested RM70 million (approximately SGD23 million) in more than 100 double-storey houses and hostels with full facilities.

ii.   Recently, we also made an investment of RM20 million (SGD6.6 million) in purchasing 101 units of apartments for our employees and renting additional houses and apartments.

iii.   By end December 2020, we successfully relocated 2,000 of our employees to WestlitePKNS accommodations in Kelana Jaya, the closest facility that suits our needs at this time. At the Westlite-PKNS accommodation, we provide a host of facilities to our workers, including a canteen with three different caterers, spacious and airy recreational areas, a minimart, self-service laundry, game room, and prayer room.

2.      Midterm

i.    In the midterm, we are investing approximately RM195 million (approximately SGD64 million) for more facilities and accommodation.

ii.    This investment includes building mega hostels in Klang and Banting in Selangor, with a combined capacity of 7,300 pax, and combined CAPEX of RM70 million (approximately SGD23 million). These hostels will be fully equipped with a suite of amenities and facilities.

iii. The Company has also purchased a Kenangan Meru apartment block in Klang, Selangor with a capacity to house 2,700 workers. The apartment block, which is expected to be completed by March 2022, has a CAPEX of around RM95 million (SGD31.2 million).

iv.  The Group is also building and acquiring additional houses, apartments, and hostels in other states, amounting to approximately RM30 million (SGD9.8million).

 

Top Glove continues to strive to be the best company that we can become, ensuring high quality welfare, health, working conditions, and living accommodation for our workforce.

We humbly request for The Straits Times to publish our response, to give your readers and all interested stakeholders a balanced view of this issue highlighted in the reporting. 

For more information, visit www.topglove.com.my

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About Top Glove Corporation Bhd

 

Top Glove Corporation Bhd is listed on the Bursa Malaysia Stock Exchange Main Board and Singapore Exchange Mainboard. It is also one of the component stocks of the MSCI Global Standard Index, FTSE Bursa Malaysia KLCI Index, FBM Top 100 Index, FBM Emas Index, FBM Hijrah Syariah Index, FBM Emas Syariah Index, FTSE4Good Bursa Malaysia Index and the Dow Jones Sustainability Indices (DJSI) for Emerging Markets. Top Glove is currently the world’s largest manufacturer of gloves with an established corporate culture and good business direction of producing consistently high quality, cost efficient gloves. Top Glove has over 2,000 customers worldwide and exports to more than 195 countries.