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 2022 | MYR | USD |
Revenue | 5,572.34M | 1,304.23M |
Gross Profit | 953.37M | 223.14M |
Operating income | 341.39M | 79.90M |
Income before tax | 362.13M | 84.75M |
Net income | 225.56M | 52.79M |
EBITDA | 689.55M | 161.39M |
Diluted EPS | 0.02 | 0.00 |
Dividends Per Share | 0.01 | 0.00 |
Total Assets | 8,116.71M | 1,813.58M |
Total liabilities | 2,499.16M | 558.41M |
Total equity | 5,579.22M | 1,246.61M |
Operating cash flow | 152.95M | 35.80M |
Currency in MYR | Currency in USD |
Historical Data
Aug 2018 | Aug 2019 | Aug 2020 | Aug 2021 | Aug 2022 | |
Revenue | 4,220.74M | 4,801.13M | 7,237.42M | 16,361.44M | 5,572.34M |
Gross Profit | 842.36M | 883.99M | 2,850.41M | 11,102.10M | 953.37M |
Operating income | 534.67M | 481.80M | 2,247.58M | 9,948.63M | 341.39M |
Income before tax | 522.80M | 423.58M | 2,166.97M | 10,031.16M | 362.13M |
Net income | 428.83M | 364.67M | 1,752.58M | 7,710.32M | 225.56M |
EBITDA | 679.81M | 674.30M | 2,492.98M | 10,257.30M | 689.55M |
Diluted EPS | 0.05 | 0.04 | 0.22 | 0.95 | 0.02 |
Dividends Per Share | 0.02 | 0.02 | 0.11 | 0.65 | 0.01 |
Total Assets | 5,297.35M | 5,688.20M | 8,705.96M | 9,782.42M | 8,116.71M |
Total liabilities | 2,898.95M | 3,134.06M | 3,810.34M | 3,857.52M | 2,499.16M |
Total equity | 2,383.04M | 2,536.95M | 4,870.75M | 5,872.40M | 5,579.22M |
Operating cash flow | 353.45M | 536.80M | 3,453.86M | 7,837.15M | 152.95M |
Aug 2018 | Aug 2019 | Aug 2020 | Aug 2021 | Aug 2022 | |
Revenue | 1,045.08M | 1,159.40M | 1,715.07M | 3,967.63M | 1,304.23M |
Gross Profit | 208.57M | 213.47M | 675.47M | 2,692.25M | 223.14M |
Operating income | 132.38M | 116.34M | 532.61M | 2,412.53M | 79.90M |
Income before tax | 129.44M | 102.28M | 513.51M | 2,432.55M | 84.75M |
Net income | 106.18M | 88.06M | 415.31M | 1,869.74M | 52.79M |
EBITDA | 168.32M | 162.83M | 590.77M | 2,487.38M | 161.39M |
Diluted EPS | 0.01 | 0.01 | 0.05 | 0.23 | 0.00 |
Dividends Per Share | 0.00 | 0.00 | 0.02 | 0.15 | 0.00 |
Total Assets | 1,289.04M | 1,352.56M | 2,090.01M | 2,353.24M | 1,813.58M |
Total liabilities | 705.42M | 745.22M | 914.73M | 927.95M | 558.41M |
Total equity | 579.88M | 603.24M | 1,169.30M | 1,412.65M | 1,246.61M |
Operating cash flow | 87.51M | 129.62M | 818.47M | 1,900.50M | 35.80M |
Valuation Measures
Aug 2022 | |
PER | 28.54 |
ROA | 2.52% |
ROE | 3.93% |
Operating margin | 6.12% |
Profit margin | 4.04% |
Key executives
- Managing Director & Executive Director: Cheong Guan Lim
- Senior General Manager-Finance: Say Keong Liew
- General Manager-Information Technology: Kian Guan Tan
- General Manager-Research & Development: Keuw Wei Lim
- Senior General Manager-Compliance: Guan Heng Ong
Shareholders
- LIM WEE CHAI (27.1%)
- Firstway United Corp. (6.7%)
- Bank of Singapore Ltd. (2.7%)
- Top Glove Corp. Bhd. (2.4%)
- The Vanguard Group, Inc. (2.0%)
- Kumpulan Wang Persaraan (1.2%)
- LIM HOOI SIN (1.2%)
- BlackRock Fund Advisors (1.1%)
- Dimensional Fund Advisors LP (0.8%)
- Employees Provident Fund (0.4%)
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 Agro-Industry Public Co. Ltd.
- Sri Trang Gloves (Thailand) Public Co. Ltd.
- Zhonghong Pulin Medical Products Co., Ltd. Class A
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