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Malaysia apos;s Top Glove Sees Supply Shortages Boosting Latex Glove Prices (view source)
Revision as of 12:32, 22 December 2020
, 12:32, 22 December 2020Created page with "<br>By Liz Lee<br> <br>KUALA LUMPUR, Nov 25 (Reuters) - Malaysia's Top Glove Corp , which has shut some factories after thousands of workers tested positive for COVID-19, said..."
<br>By Liz Lee<br> <br>KUALA LUMPUR, Nov 25 (Reuters) - Malaysia's Top Glove Corp , which has shut some factories after thousands of workers tested positive for COVID-19, said on Wednesday it expects some supply shortages that could push up prices of medical rubber gloves.<br> <br>The company, the world's largest latex glove maker, said in a media briefing that it had not yet seen any cancellation of orders, and that it [http://news.sky.com/search?term=expected expected] the virus outbreak among its workers to be contained within a month.<br> <br>"Even if (customers) cancel, it will be a small percentage," Executive Chairman Lim Wee Chai said, a day after the company predicted a delay in deliveries that would hurt sales in the fiscal year ending Aug 30.<br><br>2021.<br> <br>At the company's factories and dormitories in Klang, about 40 km (25 miles) west of Kuala Lumpur, Malaysia is battling its largest coronavirus cluster since the pandemic began.<br> <br>In response, authorities have erected barbed wire fences in front of the workers' hostels to screen and quarantine them, and said they will shut in phases some of Top Glove's factories.<br> <br>The affected factories represent about half of Top Glove's production capacity.<br> <br>Still, the Malaysian Rubber Glove Manufacturers Association (MARGMA) said on Wednesday it does not anticipate any disruption to supply.<br> <br>"Be assured that new capacity is available to make good the interim shortfall and that there is not going to be any aggravated disruption," MARGMA said.<br> <br>Malaysia manufactures just under two-thirds of the world's rubber gloves, [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour hồ ba bể] global demand for which has surged in the pandemic, helping Top Glove report record profits.<br> <br>Hartalega Holdings and Supermax Corp are Malaysia's other two large manufacturers of rubber gloves.<br> <br>The Security Ministry said on Wednesday that the factories have 11,215 employees, and that 2,684 have tested positive out of 5,795 screened.<br><br>It has asked for [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html kynghidongduong.vn] more than 2,200 workers outside the affected zone be screened as well.<br> <br>Senior minister Ismail Sabri Yaakob said that a task force has been created to coordinate the screening, quarantine and closure of the Top Glove factory.<br> <br>Top Glove said on Wednesday it was continuing to screen employees for COVID-19 and expects confirmed cases to fall going forward.<br><br>The majority of those tested were asymptomatic, it said.<br> <br>In response to a question from Reuters, Lim said there was no risk of the gloves it made getting contaminated, playing down concerns voiced by some analysts.<br> <br>Lim said that production was fully automated, and that all workers were given masks and protective gear when they were packing and had no direct contact with the products.<br> <br>Top Glove has about 16,000 factory employees and runs 47 plants in Malaysia, Thailand, China and Vietnam, with 36 of them producing gloves.<br> <br>Its stock fell 7.5% on Tuesday, and [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour thác bản giốc từ hà nội] another 3% on Wednesday.<br><br>It is still up four fold so far this year.<br> <br>(Reporting by Liz Lee and A. Ananthalakshmi; Writing by Sayantani Ghosh; Editing by Shri Navaratnam, Himani Sarkar and Louise Heavens)<br>
