Top Glove Corp. Bhd.

In the news

US bars imports of Malaysia's Top Glove over alleged labor abuse Jul 16, 2020
Top Glove makes automation push amid pandemic labor shortage Jul 2, 2020
Glove makers and net stocks see COVID-19 boom in bear market Jul 1, 2020
China's CO2 rules, Luckin investors meet, Singapore campaigning begins Jun 28, 2020
Thai medical glove maker raises $482m in IPO to expand production Jun 25, 2020

See more articles on Top Glove Corp. Bhd.

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 manufacture and trading of rubber gloves. It offers latex, nitrile, vinyl, surgical, household, cleanroom, cast polyethylene, industrial high risk, and thermoplastic elastomer gloves. It operates through the following geographical segments: Malaysia, Thailand, The People's Republic of China, British Virgin Islands, and Others. The company was founded by Wee Chai Lim and Siew Bee Tong on July 9, 1991 and is headquartered in Shah Alam, Malaysia.

Financial Highlights

Aug 2021	MYR	USD
Revenue	16,361.44M	3,967.63M
Gross Profit	11,102.10M	2,692.25M
Operating income	9,948.63M	2,412.53M
Income before tax	10,031.16M	2,432.55M
Net income	7,710.32M	1,869.74M
EBITDA	10,257.30M	2,487.38M
Diluted EPS	0.95	0.23
Dividends Per Share	0.65	0.15
Total Assets	9,782.42M	2,353.24M
Total liabilities	3,857.52M	927.95M
Total equity	5,872.40M	1,412.65M
Operating cash flow	7,837.15M	1,900.50M
	Currency in MYR	Currency in USD

Historical Data

MYR | USD

	Aug 2017	Aug 2018	Aug 2019	Aug 2020	Aug 2021
Revenue	3,409.17M	4,220.74M	4,801.13M	7,237.42M	16,361.44M
Gross Profit	605.31M	842.36M	883.99M	2,850.41M	11,102.10M
Operating income	351.99M	534.67M	481.80M	2,247.58M	9,948.63M
Income before tax	385.04M	522.80M	423.58M	2,166.97M	10,031.16M
Net income	330.66M	428.83M	364.67M	1,752.58M	7,710.32M
EBITDA	458.03M	679.81M	674.30M	2,492.98M	10,257.30M
Diluted EPS	0.04	0.05	0.04	0.22	0.95
Dividends Per Share	0.02	0.02	0.02	0.11	0.65
Total Assets	2,990.17M	5,297.35M	5,688.20M	8,705.96M	9,782.42M
Total liabilities	925.74M	2,898.95M	3,134.06M	3,810.34M	3,857.52M
Total equity	2,055.23M	2,383.04M	2,536.95M	4,870.75M	5,872.40M
Operating cash flow	399.10M	353.45M	536.80M	3,453.86M	7,837.15M

	Aug 2017	Aug 2018	Aug 2019	Aug 2020	Aug 2021
Revenue	787.27M	1,045.08M	1,159.40M	1,715.07M	3,967.63M
Gross Profit	139.78M	208.57M	213.47M	675.47M	2,692.25M
Operating income	81.28M	132.38M	116.34M	532.61M	2,412.53M
Income before tax	88.91M	129.44M	102.28M	513.51M	2,432.55M
Net income	76.35M	106.18M	88.06M	415.31M	1,869.74M
EBITDA	105.77M	168.32M	162.83M	590.77M	2,487.38M
Diluted EPS	0.01	0.01	0.01	0.05	0.23
Dividends Per Share	0.00	0.00	0.00	0.02	0.15
Total Assets	700.19M	1,289.04M	1,352.56M	2,090.01M	2,353.24M
Total liabilities	216.77M	705.42M	745.22M	914.73M	927.95M
Total equity	481.26M	579.88M	603.24M	1,169.30M	1,412.65M
Operating cash flow	92.16M	87.51M	129.62M	818.47M	1,900.50M

Valuation Measures

Aug 2021
PER	4.17
ROA	83.40%
ROE	143.53%
Operating margin	60.80%
Profit margin	47.12%

Key executives

Chief Executive Officer, Executive Director & MD: Kim Meow Lee
Senior General Manager-Finance: Say Keong Liew
General Manager-Information Technology: Kian Guan Tan
Senior General Manager-Marketing: Noraziah Mahmud
COO-Joint Manufacturing Council: Chong Ban Wong

Shareholders

LIM WEE CHAI (26.8%)
Firstway United Corp. (6.7%)
Employees Provident Fund (4.7%)
Bank of Singapore Ltd. (3.5%)
Top Glove Corp. Bhd. (2.4%)
Kumpulan Wang Persaraan (2.2%)
The Vanguard Group, Inc. (2.0%)
UBS AG (Private Banking Singapore) (2.0%)
MFP Capital Corp. (1.6%)
AIA Bhd. (1.5%)

Contact Details

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

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Competitors

Mercator Medical SA
Sri Trang Gloves (Thailand) Public Co. Ltd.
Zhonghong Pulin Medical Products Co., Ltd. Class A
Sri Trang Agro-Industry Public Co. Ltd.

Last Updated on 1 Jul, 2022