ArrowArtboardCreated with Sketch.Title ChevronCrossEye IconIcon FacebookIcon LinkedinShapeCreated with Sketch.Icon Mail ContactPath LayerIcon MailMenu BurgerIcon Opinion QuotePositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Health Technology

Top Glove Corp. Bhd.

  • 5.70 MYR
  • -0.14
  • -2.40%
  • Malaysia
    Nov 16, 2018
  • Ticker
    KLS(7113)
  • Prev. close
    5.84
  • Market cap (MYR)
    14,953.36M
  • Market cap (USD)
    3,567.12M
  • Shares
    2,560.50M

Company Background

Top Glove is the world's largest natural rubber glove maker, exporting to over 195 countries. The Malaysia-based company produces latex and nitrile gloves for health care providers and manufacturers, as well as households.

Chairman Lim Wee Chai, who had been a salesman, and his wife founded the company in 1991, when rubber prices were low and the glove industry was booming. In the mid-1990s, rubber prices rose and the industry went through consolidation; a number of rivals were squeezed out of business.

Top Glove, which started out with three production lines, now has about 500. The company turns out 48 billion gloves a year, accounting for about a quarter of the global market. The group rings up more than half of its sales in Europe and North America, but Top Glove believes demand for gloves in other regions, especially Asia, will continue to increase as populations grow.

Lim is considered a hands-on manager and adheres to a philosophy of efficiently investing $1 for every $2 earned. To save on energy costs, he keeps the air conditioning in his office set at a relatively toasty 25 C.

Business Summary

Top Glove Corp. Bhd. is an investment holding company, which engages in the provision of management services, and manufacture and trade of rubber gloves. Its products include latex, nitrile, vinyl, surgical, household, cleanroom, cast polyethylene, industrial high risk, and thermoplastic elastomer gloves. The company was founded by Wee Chai Lim in 1991 and is headquartered in Shah Alam, Malaysia.

Financial Highlights

Aug 2018 MYRUSD
Revenue4,214.48M1,043.53M
Gross Profit846.87M209.69M
Operating income541.75M134.14M
Income before tax528.59M130.88M
Net income434.21M107.51M
EBITDA682.85M169.07M
Diluted EPS0.160.04
Dividends Per Share0.080.02
Total Assets5,270.56M1,282.53M
Total liabilities2,876.79M700.03M
Total equity2,378.48M578.77M
Operating cash flow354.21M87.70M
Currency in MYRCurrency in USD

Historical Data

 Aug 2014Aug 2015Aug 2016Aug 2017Aug 2018
Revenue 2,275.36M 2,510.51M 2,888.51M 3,409.17M 4,214.48M
Gross Profit 383.45M 554.90M 595.54M 605.31M 846.87M
Operating income 174.49M 350.59M 386.70M 351.99M 541.75M
Income before tax 216.31M 363.53M 442.20M 385.04M 528.59M
Net income 180.52M 279.78M 360.72M 330.66M 434.21M
EBITDA 266.07M 448.67M 492.48M 458.03M 682.85M
Diluted EPS 0.07 0.11 0.14 0.13 0.16
Dividends Per Share 0.04 0.05 0.07 0.07 0.08
Total Assets 1,933.16M 2,687.93M 2,649.14M 2,990.17M 5,270.56M
Total liabilities 535.61M 1,073.53M 823.30M 925.74M 2,876.79M
Total equity 1,393.38M 1,607.96M 1,818.01M 2,055.23M 2,378.48M
Operating cash flow 318.82M 364.09M 466.98M 399.10M 354.21M
 Aug 2014Aug 2015Aug 2016Aug 2017Aug 2018
Revenue 703.22M 700.51M 695.95M 787.27M 1,043.53M
Gross Profit 118.50M 154.83M 143.49M 139.78M 209.69M
Operating income 53.93M 97.82M 93.17M 81.28M 134.14M
Income before tax 66.85M 101.43M 106.54M 88.91M 130.88M
Net income 55.79M 78.06M 86.91M 76.35M 107.51M
EBITDA 82.23M 125.19M 118.65M 105.77M 169.07M
Diluted EPS 0.02 0.03 0.03 0.03 0.04
Dividends Per Share 0.01 0.01 0.01 0.01 0.02
Total Assets 613.31M 639.98M 653.22M 700.19M 1,282.53M
Total liabilities 169.92M 255.60M 203.00M 216.77M 700.03M
Total equity 442.06M 382.84M 448.28M 481.26M 578.77M
Operating cash flow 98.53M 101.59M 112.51M 92.16M 87.70M

Valuation Measures

Aug 2018
PER32.84
ROA10.51%
ROE19.58%
Operating margin12.85%
Profit margin10.30%

Key executives

  • Managing Director & Director: Kim Meow Lee
  • Executive Director & Investor Relations Contact: Cheong Guan Lim
  • Co-Secretary: Keat See Lim
  • Co-Secretary: Mun Yee Chin
  • Co-Secretary: Siew Chuan Chua

Shareholders

  • LIM WEE CHAI (28.8%)
  • Employees Provident Fund (5.7%)
  • Kumpulan Wang Persaraan (5.7%)
  • Firstway United Corp. (5.0%)
  • Norges Bank Investment Management (3.9%)
  • Public Mutual Bhd. (2.6%)
  • The Vanguard Group, Inc. (2.3%)
  • Bumiputra Investment Foundation (1.8%)
  • MFP Capital Corp. (1.7%)
  • LIM HOOI SIN (1.5%)

Contact Details

  • Website:http://www.topglove.com.my
  • Address: Level 21, Top Glove Tower, 16, Persiaran Setia Dagang, Setia Alam, Shah Alam, 40170, Malaysia
  • Phone: +60.3.3362.3098

Related Companies

  • Suizze Health Ltd.
  • Top Feel Sdn. Bhd.
  • Eastern Press Sdn. Bhd.
  • Great Glove (Thailand) Co. Ltd.
  • Medi Flex Pte Ltd.
  • Top Glove Chemicals Sdn. Bhd.
  • Great Glove (Xing Hua) Co. Ltd.
  • GMP Medicare Sdn. Bhd.
  • Aspion Sdn. Bhd.
  • Top Care Sdn. Bhd.
  • TG Medical USA, Inc.
  • Top Glove Engineering Sdn. Bhd.
  • Great Gloves Sdn. Bhd.
  • TG Medical Sdn. Bhd.
  • Top Glove Sdn. Bhd.

Competitors

  • Hartalega Holdings Bhd.
  • Sri Trang Agro-Industry Public Co. Ltd.
Last Updated on 16 Nov, 2018

You have {{numberReadArticles}} FREE ARTICLE{{numberReadArticles-plural}} left this month

Subscribe to get unlimited access to all articles.

Get unlimited access
NAR site on phone, device, tablet

{{sentenceStarter}} {{numberReadArticles}} free article{{numberReadArticles-plural}} this month

Stay ahead with our exclusives on Asia; the most dynamic market in the world.

Benefit from in-depth journalism from trusted experts within Asia itself.

Try 3 months for $9

Offer ends September 30th

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media