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Health Technology

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 2020 MYRUSD
Revenue7,237.42M1,715.07M
Gross Profit2,850.41M675.47M
Operating income2,247.58M532.61M
Income before tax2,166.97M513.51M
Net income1,752.58M415.31M
EBITDA2,492.98M590.77M
Diluted EPS0.220.05
Dividends Per Share0.110.02
Total Assets8,705.96M2,090.01M
Total liabilities3,810.34M914.73M
Total equity4,870.75M1,169.30M
Operating cash flow3,453.86M818.47M
Currency in MYRCurrency in USD

Historical Data

 Aug 2016Aug 2017Aug 2018Aug 2019Aug 2020
Revenue 2,888.51M 3,409.17M 4,220.74M 4,801.13M 7,237.42M
Gross Profit 595.54M 605.31M 842.36M 883.99M 2,850.41M
Operating income 386.70M 351.99M 534.67M 481.80M 2,247.58M
Income before tax 442.20M 385.04M 522.80M 423.58M 2,166.97M
Net income 360.72M 330.66M 428.83M 364.67M 1,752.58M
EBITDA 492.48M 458.03M 679.81M 674.30M 2,492.98M
Diluted EPS 0.04 0.04 0.05 0.04 0.22
Dividends Per Share 0.02 0.02 0.02 0.02 0.11
Total Assets 2,649.14M 2,990.17M 5,297.35M 5,688.20M 8,705.96M
Total liabilities 823.30M 925.74M 2,898.95M 3,134.06M 3,810.34M
Total equity 1,818.01M 2,055.23M 2,383.04M 2,536.95M 4,870.75M
Operating cash flow 466.98M 399.10M 353.45M 536.80M 3,453.86M
 Aug 2016Aug 2017Aug 2018Aug 2019Aug 2020
Revenue 695.95M 787.27M 1,045.08M 1,159.40M 1,715.07M
Gross Profit 143.49M 139.78M 208.57M 213.47M 675.47M
Operating income 93.17M 81.28M 132.38M 116.34M 532.61M
Income before tax 106.54M 88.91M 129.44M 102.28M 513.51M
Net income 86.91M 76.35M 106.18M 88.06M 415.31M
EBITDA 118.65M 105.77M 168.32M 162.83M 590.77M
Diluted EPS 0.01 0.01 0.01 0.01 0.05
Dividends Per Share 0.00 0.00 0.00 0.00 0.02
Total Assets 653.22M 700.19M 1,289.04M 1,352.56M 2,090.01M
Total liabilities 203.00M 216.77M 705.42M 745.22M 914.73M
Total equity 448.28M 481.26M 579.88M 603.24M 1,169.30M
Operating cash flow 112.51M 92.16M 87.51M 129.62M 818.47M

Valuation Measures

Aug 2020
PER38.88
ROA24.35%
ROE47.31%
Operating margin31.05%
Profit margin24.21%

Key executives

  • Managing Director & Director: Kim Meow Lee
  • Chief Operating Officer: Chong Ban Wong
  • Senior General Manager-Finance: Say Keong Liew
  • General Manager-Information Technology: Kian Guan Tan
  • Executive Director: Cheong Guan Lim

Shareholders

  • LIM WEE CHAI (25.6%)
  • Firstway United Corp. (6.7%)
  • Employees Provident Fund (4.7%)
  • Bank of Singapore Ltd. (3.6%)
  • Kumpulan Wang Persaraan (2.2%)
  • Top Glove Corp. Bhd. (2.1%)
  • 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

Related Companies

  • A1 Glove Sdn. Bhd.
  • Top Glove Labuan Ltd.
  • Top Glove Properties Sdn. Bhd.
  • 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

  • Sri Trang Agro-Industry Public Co. Ltd.
Last Updated on 15 Jan, 2021

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