Asia300

Top Glove Corp. Bhd.

Malaysia

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Jul 27, 2017
Prev close: 5.76
Jul 27, 2017
Market cap:
Market cap(USD):
7,235.37M
1,691.49M
Shares: 1,256.14M

Currency in MYR

Company profile

Market(Ticker): KLS(7113)
Sector:
Industry:
Health Technology
Medical Specialties
Full time employees: 10,000

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 2016

  • Local currency
  • US Dollar
Revenue 2,888.51M
Gross profit 595.54M
Operating income 386.70M
Income before tax 442.20M
Net income 360.72M
EBITDA 492.48M
Diluted EPS 0.28
Dividends per share 0.14
Total assets 2,649.14M
Total liabilities 823.30M
Total equity 1,818.01M
Operating cash flow 466.98M

Currency in MYR

Revenue 695.95M
Gross profit 143.49M
Operating income 93.17M
Income before tax 106.54M
Net income 86.91M
EBITDA 118.65M
Diluted EPS 0.06
Dividends per share 0.03
Total assets 653.22M
Total liabilities 203.00M
Total equity 448.28M
Operating cash flow 112.51M

Currency in USD

Valuation measures

Aug 2016

PER 14.74
ROA 13.51%
ROE 21.05%
Operating margin 13.38%
Profit margin 12.48%

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(8.5%)
  • 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.(2.0%)
  • LIM HOOI SIN(1.6%)
  • CIMB-Principal Asset Management Bhd.(1.5%)
  • Kumpulan Wang Persaraan(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

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