Asia300

Top Glove Corp. Bhd.

Malaysia

  • 1m
  • 3m
  • 6m
  • 1y
  • 2y
  • 5y
Nov 22, 2017
Prev close: 6.65
Nov 22, 2017
Market cap:
Market cap(USD):
8,356.64M
2,032.75M
Shares: 1,256.63M

Currency in MYR

Company profile

Market(Ticker): KLS(7113)
Sector:
Industry:
Health Technology
Medical Specialties
Full time employees: 12,000

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.

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.

In the news

Financial highlights

Aug 2017

  • Local currency
  • US Dollar
Revenue 3,409.17M
Gross profit 605.31M
Operating income 325.46M
Income before tax 383.10M
Net income 328.57M
EBITDA 435.11M
Diluted EPS 0.26
Dividends per share 0.14
Total assets 2,936.25M
Total liabilities 923.77M
Total equity 2,003.28M
Operating cash flow 399.10M

Currency in MYR

Revenue 787.27M
Gross profit 139.78M
Operating income 75.15M
Income before tax 88.46M
Net income 75.87M
EBITDA 100.48M
Diluted EPS 0.06
Dividends per share 0.03
Total assets 687.56M
Total liabilities 216.31M
Total equity 469.09M
Operating cash flow 92.16M

Currency in USD

Valuation measures

Aug 2017

PER 21.39
ROA 11.76%
ROE 17.19%
Operating margin 9.54%
Profit margin 9.63%

Key executive

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

Share holders

  • LIM WEE CHAI(29.3%)
  • Employees Provident Fund(5.2%)
  • Firstway United Corp.(5.1%)
  • Public Mutual Bhd.(4.5%)
  • Norges Bank Investment Management(3.9%)
  • MFP Capital Corp.(3.5%)
  • The Vanguard Group, Inc.(2.1%)
  • LIM HOOI SIN(1.6%)
  • Kumpulan Wang Persaraan(1.2%)
  • Dimensional Fund Advisors LP(1.2%)

Address

  • 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

Copyright © 2017 FactSet Research Systems Inc. All rights reserved.