Malaysia’s top rubber gloves manufacturer, Top Glove, expects to remain on the top for the years to come as the company is backed up with more extensive production facilities and wide rubber plantation.
“We are currently at the top and control about 24% of the current global market share,” said Top Glove’s Managing Director Lee Kim Meow yesterday while also adding that the company is targeting to produce 50 billion rubber gloves per annum within the next three years.
The company has invested of RM3 billion to expand its production, research and development and activities over the next 15 years.
At present, Top Glove is building 40 new rubber glove factories in Malaysia alone. The company has now 24 factories across China and Thailand.
The company is aiming to increase its global market share by 5% through expanding productions and mergers and acquisitions.
Top Glove has bought PT Agro Pramata Sejahtera in Indonesia to ensure that the company will get at least 50% of the internal requirements in latex supply.
The company has also announced that its net profit increases 80% to RM 206.0 million, while its revenue grew 13% to RM 2.31 billion from RM 2.05 billion last year.
(RJA)