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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 2019 MYRUSD
Revenue4,801.75M1,159.55M
Gross Profit475.35M114.79M
Operating income523.52M126.42M
Income before tax430.74M104.01M
Net income370.56M89.48M
EBITDA718.56M173.52M
Diluted EPS0.140.03
Dividends Per Share0.070.01
Total Assets5,648.74M1,343.18M
Total liabilities3,205.51M762.22M
Total equity2,426.15M576.90M
Operating cash flow519.12M125.36M
Currency in MYRCurrency in USD

Historical Data

 Aug 2015Aug 2016Aug 2017Aug 2018Aug 2019
Revenue 2,510.51M 2,888.51M 3,409.17M 4,214.48M 4,801.75M
Gross Profit 554.90M 595.54M 605.31M 846.87M 475.35M
Operating income 350.59M 386.70M 351.99M 541.75M 523.52M
Income before tax 363.53M 442.20M 385.04M 528.59M 430.74M
Net income 279.78M 360.72M 330.66M 434.21M 370.56M
EBITDA 448.67M 492.48M 458.03M 682.85M 718.56M
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 5,270.56M 5,648.74M
Total liabilities 1,073.53M 823.30M 925.74M 2,876.79M 3,205.51M
Total equity 1,607.96M 1,818.01M 2,055.23M 2,378.48M 2,426.15M
Operating cash flow 364.09M 466.98M 399.10M 354.21M 519.12M
 Aug 2015Aug 2016Aug 2017Aug 2018Aug 2019
Revenue 700.51M 695.95M 787.27M 1,043.53M 1,159.55M
Gross Profit 154.83M 143.49M 139.78M 209.69M 114.79M
Operating income 97.82M 93.17M 81.28M 134.14M 126.42M
Income before tax 101.43M 106.54M 88.91M 130.88M 104.01M
Net income 78.06M 86.91M 76.35M 107.51M 89.48M
EBITDA 125.19M 118.65M 105.77M 169.07M 173.52M
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 1,282.53M 1,343.18M
Total liabilities 255.60M 203.00M 216.77M 700.03M 762.22M
Total equity 382.84M 448.28M 481.26M 578.77M 576.90M
Operating cash flow 101.59M 112.51M 92.16M 87.70M 125.36M

Valuation Measures

Aug 2019
PER32.82
ROA6.78%
ROE15.42%
Operating margin10.90%
Profit margin7.71%

Key executives

  • Managing Director & Director: Kim Meow Lee
  • Senior General Manager-Finance: Say Keong Liew
  • Executive Director: Cheong Guan Lim
  • Senior General Manager-Marketing: Noraziah Mahmud
  • Senior General Manager-Marketing: Yat Hing Lam

Shareholders

  • LIM WEE CHAI (26.7%)
  • Firstway United Corp. (7.1%)
  • Employees Provident Fund (7.1%)
  • Kumpulan Wang Persaraan (4.9%)
  • Public Mutual Bhd. (3.2%)
  • The Vanguard Group, Inc. (2.3%)
  • MFP Capital Corp. (1.7%)
  • Bank of Singapore Ltd. (1.7%)
  • Norges Bank Investment Management (1.7%)
  • LIM HOOI SIN (1.5%)

Contact Details

  • Website:http://www.topglove.com.my
  • 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

  • Hartalega Holdings Bhd.
  • Sri Trang Agro-Industry Public Co. Ltd.
Last Updated on 14 Oct, 2019

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