The Board of Directors of Top Glove wishes to confirm that the U.S. Customs and Border Protection (“CBP”) has placed a detention order on disposable gloves manufactured by two of the Company’s subsidiaries, namely Top Glove Sdn Bhd and TG Medical Sdn Bhd on 15 July 2020.



We are reaching out to the CBP through our office in U.S., customers and consultants, to understand the issue better and work towards a speedy resolution of the matter, within an estimated 2 weeks.

KUALA LUMPUR (Reuters) - The U.S. Customs and Border Protection (CBP) has enforced a detention order on subsidiaries of the world's largest medical glove maker Top Glove Corp Bhd, an action intended to halt importation of goods from companies suspected of using forced labour......

KUALA LUMPUR (Reuters) - The U.S. Customs and Border Protection (CBP) has enforced a detention order on subsidiaries of the world's largest medical glove maker Top Glove Corp Bhd, an action intended to halt importation of goods from companies suspected of using forced labour......

https://finance.yahoo.com/news/u-customs-places-detention-order-045308389.html

U.S. Customs issues detention order on imports of goods made by Malaysia's Top Glove

U.S. Customs issues detention order on imports of goods made by Malaysia's Top Glove

https://finance.yahoo.com/news/u-customs-places-detention-order-045308389.html

bought myeg at 1.48

sold back all supermax at 15.90

bought back supermax at 15.30-15.40

sold back supermax at 15.70-15.80

Pandemic covid 19 : glove demand increasing

Vaccination on global population will last for prolong period due to individual need of multiple dose on multiple time interval to sustain antibody level in body: continue glove demand increasing

Glove stock affected by news from Moderna covid vaccines phase 1 trial result. The trial result only recruit 45 participant. Moderna will start next trial phase 3 on 30,000 participant for 3 month from July to Oct.

The trial will evaluate efficacy and safety of vaccines on protection against covid virus on multiple dose and interval time. The trial result will release after completion end of year.

The timeframe from development have shorten from 6 year to current 6 month, As the vaccine is mostly funded by fed government and agency, it will need to widely administer to almost entire population at least in US and European. The billion of people need protection not only 1 dose, but on multiple dose of vaccine to sustain antibody level for prolong time. The demand of glove will continually on high as wide administer vaccine on multiple dose will keep glove on long lasting demand.

Many glove maker already foresight such increasing sustainable demand in future, thus, speedy up capacity expansion for long term plan.

Upcoming news to be release soon:

1. Q result EPS > 30sen
2. share dividend 20 for 1 from 5% treasury stock
3. bonus share

bought back all supermax at RM 15

cut jaks at 87.5-88sen

swap all capital to jaks, add all at 94.5-96sen

sold back supermax at 10.00

bought back supermax at 9.92-9.93

sold back all supermax at 9.72-9.73

Topglove to hit record high....... high on higher pattern, broken double top formation limit, uptrend continue

Supermax hit record high....... high on higher pattern, broken double top formation limit, uptrend continue

bought back all supermax at 9.25

sold back all supermax at 9.09

bought back supermax at 8.95-8.97

sold back at 78.5sen

sold all LC titan at 2.07-2.08

Jaks on track to recover back to above RM 1.00. Today rebounding is strong with big volume support as Q result uncertainty have over. Time to move on with major catalyst power plant to commence operation trial run these month.

The coal have arrive, trial operation is these month. Gov and power operator now is in full scale and on expedite manner to catch up time. Gov will expedite the power plant to ready commecial operation to meet power shortage

These month, july, Unit 1 to commence operation trial, synchronize to power grid. Once, trial operation is completed, next month Aug will start commercial operation.

Global Economic on recovery path, demand for petrochemical product increasing, profit margin improving

add more at 92sen

bought D&O at 76-76.5sen

bought jaks at 90.5-91sen

bought LC at 1.88

sold back all supermax at 8.75-8.76

bought back supermax at 8.42

sold back all supermax at 8.39

bought back all supermax at 8.27-8.28

sold back all at 8.36

bought back again at 8.21

sold back all at 8.19

bought back all supermax at 8.10-8.12

sold back bursa at 7.37-7.40

sold back cypark at 99.5-1.00

sold back fp group at 79sen

High profit margin mitigate lower revenue due to MCO. Growth factor are, completion Solar energy will increase triple capacity from 47MW to 200 MW + commission of maiden 25MW WTE + upcoming another new 100MW just sign PPA with TNB.

Decided not to buyback at last due to worsening technical chart trend and pending announcement on vaccine by Trump.

All glove maker seem response very negatively on trump “I think we’re coming up with some great answers,” Trump said in reference to Covid-19 vaccines and treatments on Wednesday afternoon. “I think you’re going to have a big surprise, a beautiful surprise sooner than anybody would think.”

buy cypark at 98.5sen

buy FP at 76.5sen

buy bursa at 7.28