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
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
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
Related Companies
- Great Glove (Malaysia) Sdn. Bhd.
- TG Healthcare Sdn. Bhd.
- A1 Glove Sdn. Bhd.
- Top Glove Labuan Ltd.
- Top Glove Global Sdn. Bhd.
- Top Feel Sdn. Bhd.
- Eastern Press Sdn. Bhd.
- Medi Flex Pte Ltd.
- Top Glove Chemicals Sdn. Bhd.
- Great Glove (Xing Hua) Co. Ltd.
- GMP Medicare Sdn. Bhd.
- Top Care Sdn. Bhd.
- Top Quality Glove Sdn. Bhd.
- TG Medical (USA), Inc.
- Top Glove Engineering Sdn. Bhd.
- Great Gloves Sdn. Bhd.
- TG Medical Sdn. Bhd.
- Top Glove Sdn. Bhd.
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.
Copyright © 2022 FactSet Research Systems Inc. All rights reserved.
Last Updated on 1 Jul, 2022Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.