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Health Technology

Top Glove Corp. Bhd.

  • 10.46 MYR
  • -0.04
  • -0.38%
  • Malaysia
    Sep 14, 2018
  • Ticker
    KLS(7113)
  • Prev. close
    10.50
  • Market cap (MYR)
    13,442.40M
  • Market cap (USD)
    3,248.13M
  • Shares
    1,280.22M

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 provision of management services, and manufacture and trade of rubber gloves. Its products include latex, nitrile, vinyl, surgical, household, cleanroom, cast polyethylene, industrial high risk, and thermoplastic elastomer gloves. The company was founded by Wee Chai Lim in 1991 and is headquartered in Shah Alam, Malaysia.

Financial Highlights

Aug 2017 MYRUSD
Revenue3,409.17M787.27M
Gross Profit605.31M139.78M
Operating income326.89M75.48M
Income before tax383.10M88.46M
Net income328.57M75.87M
EBITDA436.54M100.80M
Diluted EPS0.260.06
Dividends Per Share0.140.03
Total Assets2,936.25M687.56M
Total liabilities923.77M216.31M
Total equity2,003.28M469.09M
Operating cash flow399.10M92.16M
Currency in MYRCurrency in USD

Historical Data

 Aug 2013Aug 2014Aug 2015Aug 2016Aug 2017
Revenue 2,313.23M 2,275.36M 2,510.51M 2,888.51M 3,409.17M
Gross Profit 363.21M 383.45M 554.90M 595.54M 605.31M
Operating income 196.49M 174.49M 350.59M 386.70M 326.89M
Income before tax 242.20M 216.31M 363.53M 442.20M 383.10M
Net income 196.50M 180.52M 279.78M 360.72M 328.57M
EBITDA 276.83M 266.07M 448.67M 492.48M 436.54M
Diluted EPS 0.15 0.14 0.22 0.28 0.26
Dividends Per Share 0.08 0.08 0.10 0.14 0.14
Total Assets 1,771.42M 1,933.16M 2,687.93M 2,649.14M 2,936.25M
Total liabilities 413.58M 535.61M 1,073.53M 823.30M 923.77M
Total equity 1,331.85M 1,393.38M 1,607.96M 1,818.01M 2,003.28M
Operating cash flow 256.88M 318.82M 364.09M 466.98M 399.10M
 Aug 2013Aug 2014Aug 2015Aug 2016Aug 2017
Revenue 746.63M 703.22M 700.51M 695.95M 787.27M
Gross Profit 117.23M 118.50M 154.83M 143.49M 139.78M
Operating income 63.42M 53.93M 97.82M 93.17M 75.48M
Income before tax 78.17M 66.85M 101.43M 106.54M 88.46M
Net income 63.42M 55.79M 78.06M 86.91M 75.87M
EBITDA 89.35M 82.23M 125.19M 118.65M 100.80M
Diluted EPS 0.05 0.04 0.06 0.06 0.06
Dividends Per Share 0.02 0.02 0.02 0.03 0.03
Total Assets 539.28M 613.31M 639.98M 653.22M 687.56M
Total liabilities 125.90M 169.92M 255.60M 203.00M 216.31M
Total equity 405.46M 442.06M 382.84M 448.28M 469.09M
Operating cash flow 82.91M 98.53M 101.59M 112.51M 92.16M

Valuation Measures

Aug 2017
PER21.39
ROA11.76%
ROE17.19%
Operating margin9.58%
Profit margin9.63%

Key executives

  • Managing Director & Director: Kim Meow Lee
  • Executive Director & Investor Relations Contact: Cheong Guan Lim
  • Co-Secretary: Keat See Lim
  • Co-Secretary: Mun Yee Chin
  • Co-Secretary: Siew Chuan Chua

Shareholders

  • LIM WEE CHAI (28.8%)
  • Employees Provident Fund (7.0%)
  • Kumpulan Wang Persaraan (5.3%)
  • Firstway United Corp. (5.0%)
  • Norges Bank Investment Management (3.9%)
  • Public Mutual Bhd. (2.6%)
  • The Vanguard Group, Inc. (2.2%)
  • Bumiputra Investment Foundation (1.8%)
  • MFP Capital Corp. (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

  • 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 Sep, 2018

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