Top Glove Corp. Bhd.

In the news

Tencent and China tech prove resilience amid regional stock shock Apr 1, 2020
World's largest glove-maker Top Glove expects 40% profit surge Mar 26, 2020
Top Glove upbeat on prospects as virus outbreak lifts demand Mar 19, 2020
Malaysia's Top Glove sees orders from China double on coronavirus Jan 31, 2020
Asian equities slide more as China virus infections, death toll rise Jan 28, 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. The company 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, 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 2019	MYR	USD
Revenue	4,801.13M	1,159.40M
Gross Profit	883.99M	213.47M
Operating income	481.80M	116.34M
Income before tax	423.58M	102.28M
Net income	364.67M	88.06M
EBITDA	674.30M	162.83M
Diluted EPS	0.14	0.03
Dividends Per Share	0.07	0.01
Total Assets	5,688.20M	1,352.56M
Total liabilities	3,134.06M	745.22M
Total equity	2,536.95M	603.24M
Operating cash flow	536.80M	129.62M
	Currency in MYR	Currency in USD

Historical Data

MYR | USD

	Aug 2015	Aug 2016	Aug 2017	Aug 2018	Aug 2019
Revenue	2,510.51M	2,888.51M	3,409.17M	4,220.74M	4,801.13M
Gross Profit	554.90M	595.54M	605.31M	842.36M	883.99M
Operating income	350.59M	386.70M	351.99M	534.67M	481.80M
Income before tax	363.53M	442.20M	385.04M	522.80M	423.58M
Net income	279.78M	360.72M	330.66M	428.83M	364.67M
EBITDA	448.67M	492.48M	458.03M	679.81M	674.30M
Diluted EPS	0.11	0.14	0.13	0.16	0.14
Dividends Per Share	0.05	0.07	0.07	0.08	0.07
Total Assets	2,687.93M	2,649.14M	2,990.17M	5,297.35M	5,688.20M
Total liabilities	1,073.53M	823.30M	925.74M	2,898.95M	3,134.06M
Total equity	1,607.96M	1,818.01M	2,055.23M	2,383.04M	2,536.95M
Operating cash flow	364.09M	466.98M	399.10M	353.45M	536.80M

	Aug 2015	Aug 2016	Aug 2017	Aug 2018	Aug 2019
Revenue	700.51M	695.95M	787.27M	1,045.08M	1,159.40M
Gross Profit	154.83M	143.49M	139.78M	208.57M	213.47M
Operating income	97.82M	93.17M	81.28M	132.38M	116.34M
Income before tax	101.43M	106.54M	88.91M	129.44M	102.28M
Net income	78.06M	86.91M	76.35M	106.18M	88.06M
EBITDA	125.19M	118.65M	105.77M	168.32M	162.83M
Diluted EPS	0.03	0.03	0.03	0.04	0.03
Dividends Per Share	0.01	0.01	0.01	0.02	0.01
Total Assets	639.98M	653.22M	700.19M	1,289.04M	1,352.56M
Total liabilities	255.60M	203.00M	216.77M	705.42M	745.22M
Total equity	382.84M	448.28M	481.26M	579.88M	603.24M
Operating cash flow	101.59M	112.51M	92.16M	87.51M	129.62M

Valuation Measures

Aug 2019
PER	33.28
ROA	6.63%
ROE	14.82%
Operating margin	10.03%
Profit margin	7.59%

Key executives

Managing Director & Director: Kim Meow Lee
Senior General Manager-Finance: Say Keong Liew
Chief Operating Officer: Chong Ban Wong
Executive Director: Cheong Guan Lim
Senior General Manager-Marketing: Noraziah Mahmud

Shareholders

LIM WEE CHAI (26.9%)
Firstway United Corp. (7.1%)
Employees Provident Fund (5.2%)
Kumpulan Wang Persaraan (3.7%)
Public Mutual Bhd. (2.7%)
The Vanguard Group, Inc. (2.3%)
MFP Capital Corp. (1.7%)
Retail Employees Superannuation Trust (1.5%)
LIM HOOI SIN (1.5%)
Bank of Singapore Ltd. (1.3%)

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

Sri Trang Agro-Industry Public Co. Ltd.

Last Updated on 3 Apr, 2020