Invest malaysia, do you notice whatever happen.to Topglove , it will affect other glove companies as well ? Why ? It is because Topglove is glove tai kor in Malaysia. All glove companies are in the same boat . If you bash up topglove , you are indirectly beating the others. When the bad news from CBP on topglove was out last week , all glove.counters suffered . If you have harta , then dont talk bad on topglove .

US and Western medias are powerful tools for their own interests despite their obvious hypocrisy and double standards. Nike and H&M were accused of child labour and extremely low wages of 15 cts per hour wages but US and Europe never ban their products. Imagine what is US 15 cts per hr which is about rm 150 per month assuming 8 hrs per day and 30.days per.month working time. This is only one tenth of what our foreign workers will get in Malaysian.glove companies.

Invest malaysia , btw I also has Harta ya.

Imvest malaysia , there are 3 reasons why topglove margins beat harta in.the last one year. First, the the increase in demand came mainly from nitrile gloves which has higher margin .Topglove converted many latexx glove production.lines into nitrile . Second , topglove allocated 20 to 30 percent into spot sales which has more than double ASP than normal sales. Third , Topglove being world number one is price leader that lead in higher ASP than Harta which only started to catch up in last 2 qtrs.

Invest malaysia, it is incorrect that harta magin is better in.the last one year during pandemic . Harta margin for last 4 qtrs were 15 %, 24.%, 40% and 47% . Topglove margins were 21%, 41%, 50% and 53 % . In fact topglove can still have better margins than.harta in last.2 qtrs despite the ban on topglove shipment from.malaysian factories.

I just watched Hishamuddin speech in China. He said to China we.are one family in.Mandarin 我们都是一家人。To my surprise ,Hishamuddin also said China is always our big brother . We will see how US respond . I hope Malaysia to stay neutral . If there is a fight between the two giants in.SCS , stay out and just watch. China will meet Indonesia and.Philipines today and tomorrow. Malaysia need to take care of its own interests by staying neutral. We are just a small pelandok .
Otherwise , apabila gajah sama gajah berjuang, pelandok will mati di tengah.

It is interesting to see how these 2 big countries US and China are wooing Malaysia. Our.Hishamudin was in China upon its invitation. Wang Yi told Hishamuddin that China Malaysia friendship and partnership has been a thousand years. Both countries cooperated in.many areas including the recent containment of covud pandemmic. While.Hishamuddin was in.China, Blinken called Hishamuddin yesterday and woo him.with similar talks. It is like 2 men going after a woman.promise with sweeties. I hope the CBP. recent statement on topglove has nothing to do with politics.

newbie1111, dont be naive. What is the significance whether sinovac.or pfizer vaccine came to Malaysia first. If you order.pfizer and approve it first and.do not order sinovac and approve it, off course pfizer.vaccine will.come first. Sinovac vaccine went to indonesia earlier than malaysia because they had their trial there first and then approve it first. They bought them earlier than.malaysia. It is that simple. China told UN.and the whole world its vaccines.are.for all.mankind whereas US said it is for their.allies first .China has announced last week that its vaccines will be manufactured in UAE which will supply.to middle east countries.

pBlue , agreed with you. US government and companies value money more than human lives. Wonder why Singapore and.Israel got few millions respectively of Pfizer vaccines so fast than the EU S. They bid with the highest price. The third world countries can only dream of getting Pfizer vaccines next year or after next . Today China is supplying vaccines to about 100 third world countries despite US badmouthing . To US , money matters more than lives. Their 560k deaths speak louder than their rhetorics that they do not care for human rights and forced labour. Has anyone in.US been.held accountable.for such high.percentage of deaths ? Hypocrisy of the highest level.

invest malaysia and treasurehunt , I.am glad both of you agreed with me that US is practising double standards. Then.you should not assume that US.is.a saint who will be fair to everyone. US. lies ,hypocrisy and double standards are well known . I do not think.the working conditions.and wages in India , Bangladesh and myammar.are.better than workers in.Topglove especially.Topglove had taken corrective.actions to improve the situation. Hence pls std up for Topglove.as.this is a Malaysian company which provide huge taxes and jobs to our government . At this juncture, I prefer to see patroitism and solidarity like how the Chinese stand up against US double standards and hypocrisy than being traitors to our country .

H&M had been.accused of child labour in.myamar and bangladesh but US never ban H&M priducts into US.

Nike has factories in India , Bangladesh , Vietnam ,.Indonesia etc . Nike.has been.accused of child labour , extremely low wages and poor working conditions but US has never ban its products into US. What a double standards .

In.business, especially when you have grown.so big to be world number one supplying 25 % of world requirements, it is naive to ignore the political aspect of business. I tried not to link the coincidence of such shocking new 3 days ago with the announcement of China invitations of 4 top ministets from Malaysia, Indonesia, Singapore and Philipines .These 4 are key.members of RCEP and has great influnce in SCS and Straits Of Malacca. Immediately after the heated meeting in.Alaska both Blinken and Wang Yi went on immediately to pull friends from each.side respectively. Blinken went to EU countries to pull them to their side while Wang Yi pulled Russia.and visited 6 middle east countries. The latest move by China of these 4 countries can also be considered another move by China to pull.ASEAN as its friends. We have to be aware how the fight between the two biggest economies may affect our country . It is better not to take side in the current.explosive situation.

For political reasons, Topglove.should build one factory in US and one in France or Germany with one to 2 billion production each per year. This is to show " GOODWILL " to the Taikos for the five eyes countries and EU.

The cost of employing foreign workers is not cheap anymore. On the average it is at least rm 800 to 1000 per month paying for their permit fees, insurance., accomodation ,agent fees etc. This is on top of the monthly basic salary which is more than 1200 easily. With overtime, they can get easily 2000 plus pm. Besides automation which will.greatly reduce labour, topglove should.seriously considet paying rm 1800 basic salary to attract locals to work as production.operators . With EPF.Socso, plus insurance and other benefits, the fully loaded cost could be around rm 2300 per operator. With overtime , the operator.may get around 2500 pm. I think many jobless degree holders will.join topglove. Topglove can get.rid.of the hassle of looking for accomodation for the migrant workers,paying for their agent and permit fees etc.The total cost could be slightly higher than migrant workers but worth it. It benefits malaysians as a whole. If still.cannot get enough workers, topglove shoukd consider moving more and more operations outside malaysia like Thailand, Indonesia, China or Vietnam leaving a few factory behind in malaysia for sales.and marketing, R&D plus 10 to 20 % production.

Topglove hired a consultant who.is familiar with US forced labour requirements. After more than 6 months of working together , both consultant and an independent auditor cleared Topglove of Forced any wrong doings after the corrective actions . Topglove counsel.in.US.is.trying to get mote information from.CBP. on what went wrong doings so that further.actions can be taken. It is not end of the world 。 As long as it is not political, problems can.be solved . In.any audit, there are bound to have NCR. Once an.NCR is closed with corrective.action , problem.should be considered solved. I am more afraid if it is political like what happen to Huawei.
.

Topglove should learn from TSMC.and Supermx to set up a plant in.US. Better still.set up the plant in Joe Biden hometown. US wants to be better prepared for future pandemics.

Topglove should appeal. Tiktok and Xiaomi suffered bannings too but they managed to get them lifted after appeals.

We must learn the lessons from how.Toshiba, Alstom , Huawei were crippled by US . There is a saying today Alstom tomorrow Huawei . Topglove being world number 1 attract.attention. It is not as.simple as.""Forced labour ""issue. It is good to be aware of what happened in history and the fate of other world number 1 companies.

Based on Ben Tan's article , the seizure is on the batch of shipment held by CBP on 15th July 2020. Due to the ban from that date onwards, there was no shipment to US from Malatsian topglove factories。In fact ，the last 2 qtrs financial results had zero shipments from.Malaysian.topglove factories to US . The question now is why US still ban future shipments which should be built with no "FORCED LABOUR" after Topglove had taken several corrective actions like paying off the debts owed by the workers to their agents , no witholding of passparts plus others. This.surprised action by CBP has implications for other glove manufactureres .It looks like our government is looking into the issues .

Ben Tan, thanks for your good article.I agreed with your analysis.
Since the ban imposed by CBP,there was no shipments from Malaysian plants and the last two qtr results were without the Malaysian shipments. This ban on future shipments has a lot of implications since Topglove has stated that corrective actions had been taken.

newbei1111, It is you who said that it is based on routine enforcement by customs .... pls check your comment at 6.13 pm today.
The statement from. US CBP.clearly stated that it is based on months long investigation . Such month long investigations is NOT a routine enforcement . What triggered such investigations ? Since.August 2020, Topglove had issued several press statements that it had hired a consultant , took corrective actions and the plants has just been audited . The management had also stated several times that they were confident that this "fotced labour" issue will be resolved soon. It came as a shock to many topglove investors when. this news of forced labour violation again .
Again, I want to state.that this latest CBP statement does not come from ROUTINE ENFORCEMENT BY CUSTOM as claimed by you in your comment today at 6.13 pm.
We shall see.the response.from.TOPGLOVE management.

Hahaha, routine custom check on the products and documents can know whether the products made by " convicts" or." forced " labour meh. Wow, the US customs officers must have bionic eyes or bionic noses that they can smell that these batch of products must have been.made by "convicts " or forced labours"". Common.sense will tell you that it is not a routine.checks.lah.

newbie1111, it is no joke. Normally, When US accussed a certain company or country of "" Forced Labour"" , the government will only ban or stop shipments of products but this time US customs are.confiscating.and seizing shipments which is unprecedented. It reminded me how US intercepted shipments of PPE meant for Germany and Canada and snatched them to US when there was an acute.shortage. Something funny is happening which even Topglove management is not able to respond. When something irrational happened, we need unconventional diplomatic efforts to resolve .Topglove management had spent more than 100 millions on thus issue since last August but the result turned out to be surprising and disappointing.

Topglove need to work with one of the Democrats Rep in US as this issue is political . There are thousands of companies employing foreigners working in constructions , plantations and factories. If these foreigners are considered forced labours, then thousands of companies are using "forced labours" . US big brother words are final no matter how you try to explain. In 2003, when US said IRAQ had WMD, it mean IRAQ had even the then UN inspector.Hans Blix said his team couldnt find any after months of combing Iraq key areas. Finally , Collin Powell showed the "evidence" with a bag.of detergent as " proof" . IRAQ was finished with hundreds of thousands of bombs killing hundred of thousands of innocence. Topglove cannot use the rational methods to convince US CBP anymore. It must use political approach together with our government.

If USA wants to pick on you, they can find ways to pick on you. Child labour, forced labour, poor living conditions , low wages etc. If they have only one standard, India and Bangladesh has much worst conditions .Their intents are not that they care for the workers but to destroy the livelihoods of the workers so that it benefit them. The Xinjiang cotton industry is a good example. Xinjiang produce the highest grade cotton.in the world and account for 20 % of world cotton production . USA accused Xinjiang of using forced labour and ask the BCI members to boycott its cotton. The cotton pickers can make RMB 5000 a month picking.cotton. This is a lucrative income in.Xinjiang. By bycotting xinjiang cotton, the workers will lose their jobs and livelihood. The Chinese government.stand firmly defending the workers and its cotton industry.

Loss Aversion, yes . the west has been.bashing palm oil for a few decades because it pose a threat to soya bean oils. As for glove , I suspect the agenda is different .US may want to take control of gloves supply as one of its long term.strategic initiatives. Today, US is using Pfizer vaccines as one of the tools for diplomacy. Gloves can also be used as a political tool for future pandemics.

The US actions sound political. Topglove.management must quickly give.a press statement on what transpired between the US CBP , its consultant and topglove. If.it is political situation like Xinjiang cotton industry was blamed with using forced labour , it has a bigger implication .

Do you know child labour is a violation of human rights ? As long as you are under 18 and still schooling, you are considered child labour even if are helping your parents in their own shops , farms or businesses. Can you.estimate how many children or teenagers of such age
working in.hawker centres , restauranta , shops or factories in Malaysia? Dont be surprised one day our palm oil is boycotted due to child labour. What about India, Bangladesh, India and Indonesia? I belive they have more child labour than Malaysia.

I believe every countries has human right issues . The problem with US and its allies are the holier than thou attitudes or the pot is calling the kettle black or as in Malay proverb " Kokok berderai derai tapi ekor bergelumbang tahi" meaning The Corkeral try to show off its beautiful feathers but do not realise its tail is full of shits. While the Uighurs minority population has doubled in last 40 years, the Red Indians populations has almost extinct from 30 millions when.Christopher Columbus founded America. You can hardly find any aborigines in Australia today . Where are they ? They had been Exterminated by the bandits from Britain . It is outrageous for them to point their dirty fingers on others not to mention how the blacks and asians are being treated at theur own countries.

Many countries in Europe are socialist or a hybrid of both socialist and capitalist . They have very good social welfare systems which take care of the old , unemployed and the disadvantaged. Singapore is also a good example of a hybrid of socialist and capitalist system. The two good examples of socialist Singapore are the non profit HDB and NTUC fair price . Lee KY knew pretty well the basic needs of humans are Food, Shelter and Clothing. The HDB takes care of the housing needs while the NTUC Fair price takes care of the food for the vast majority of Singaporeans. Malaysia also practise some socialist system like Felda scheme, Low cost and affordable cost housing . China basically copy Singapore System and called it Socialism with Chinese Character . Its poverty eradication program is a true reflection of socialism while maintaining a capitalist system on the private sectors. Today, China has more billionaires and millionaires than US while taking care of the hardcote poors so that they wont end up like the US homeless who depends on government handouts for survival. I have an Indian friend who migrated from India to Singapore and told me that LKY was a true socialist unlike Nehru who just advocated socialism without doing much to the Indian poors.

The "Forced Labour " issues were now found to be a lie fabricated by Western countries and media. BCI Shanghai and Skechers have made statements that they found no "Forced Labour" in Xinjiang cotton industry.BCI headquarter had better explain why they decided to make a decision to boycott Xinjiang cotton last year .

I have been watching Taiwan social medias where they invite University professors, EX.diplomat like 赖岳謙，郭正亮，介大使，唐湘龙，凤馨 etc . These are well educated and well informed academicians. Their conclusions on the Alleged Genocide and Forced Labour in Xinjiang are lies fabricated by the West to contain , suppress and demonise China. First there is no evidence . Second, China had denied with factual data and third China invited the world bodies like UN and others to go to Xinjiang and see for themselves but none are willing to go but prefer to use non verified news to blame China.There is another youtuber by the name of 柳杰克who use live chats with participants from all over the world. Ironically, those Uighurs and Kazakhs who called in denied the allegations of genocide , organ selling and forced labours whereas the Taiwanese who called in tend to believe . 柳 is a good facilitator.

China started " One Belt One Road " with a clear vision and objectives. Joe Biden main objective of another "OBOR" is just to counter China One Belt One Road. His objective is evil and with very negative objective .Biden had better call it One Bomb One Road .

I like the Confucious values of 己所勿欲 勿施於人 meaning " Do not do unto others what you do not wish others do unto you " . I also like Confucious other values like 礼 義 廉 恥 仁 孝 meaning Mutual Respect , Justice , Integrity , Shame , Benovelent and Filial Piety. The late Singpaore prime minister Lee Kuan Yew was a believer of Confucian Values .

Someone in the forum presumed that China also practise ketuanan for the Han majority against the other 55 minorities. Contrary to what he thought, China has affirmative.actions for the minorities like lower entry marks to enter universities and exclusion on one child policy. The 55 minorities enjoy these special priviledges although in the Constitution , all ethnic groups are to be treated equally.

The topic of this forum is about Sanctions between US and EU versus China on issues concerning Xinjiang. Participants have their rights and freedom to side either China or US/EUs . Treasurehunt deviate from the topic and try to make it into Malaysia vs China issue and later become.Chinese and Malay issue. He is unhappy some of the partipants support China rather than US/ EU . Treasure hunt should give his reasonings why he support US/EU rather than criticising those who support China . This topic has nothing yo do with Malaysia vs China.

It is too naive and myopic to view the control of SCS as a fight between China and SEA countries. The RCEP is proposed and headed by SEA countries. A few months ago China was invited to join RCEP, If there is a fight between China and Philipines, Vietnam, Nalaysia, Indonesia, Brunei etc and China over SCS , why should the pioneer SEA countries of RCEP invite China to join ? There isnt any big quarrels on SCS in.any such meeting .On the Xinjiang genocide claimed by the west, China is opened to visits to Xinjiang in which thousands Mslaysians had visited in the last 30 years. The question of taking sides should not arise. After all , China had never restrict anyone from passing through SCS.

Why China wants to revive the old silk road and add new ones and call it one belt one road ? When Obama proposed TPPT which intentionally exclude China and supported Japan nationalization of Daoyu island although this island is 4 times further to Japan than China, Xi knew USA and its allies wanted to contain and suppress China rise through control of SCS. Today 90 % of trade go through SCS. The formation of QUAD further confirm US ,Japan , Australia and Indian interests to contain China through the seas. The revival and expansion of the old silk road from Xian through Xinjiang and central asia plus the Pakistan China economic corridor was to reduce the dependence of SCS . Besides the cooperation between.Myammar and China is also to reduce the dependence on SCS such that import and export can also goes through these 3 other alternatives. Now , you can see why.US and the west." care " so much about Xinjiang Uyghurs minority.They just wants to destabilise Xinjiang such that China rise will be suppressed.

Do you notice none of the muslim countries condemn China on the alleged genocide or forced labour issues in Xinjang but rather it is the Christian western countries who are more concerned on Xinjiang muslims. Ironically , the western countries did not sanction myammar over the factual genocides pepetrated by myammar army when millions of Rohinyas ran away from Rakine myammar and became refugees in South East Asia. When Donald Trump decided to stop Americans from buying cotton from Xinjiang, their intention was clear that is to cause hardship to the muslims in Xinjiang and with the intent to destabilize China. Dont fall into US trap and believe they care for the muslims in xinjiang. They have a bigger agenda.

Haha, I used to buy sketches shoes but my dogs destroyed them within two months. I decided to buy rm 99 power brand from BATA. Equally good.

some interesting quotes from China retaliation on H & M.

First H & M stand for Huang Miao meaning absurd in chinese
Second Dont eat our rice and then smash our rice bowl.
Third We dont buy your crappy excuse

Based on statistics , 800 thousands were killed in the middle East wars and 3.78 millions lost their homes and became refugees in the last 20 years when US and its allies bombed Afghanistan, IRAQ, Syria and Libya in the name of liberations. To the 800 thousnds dead, what human rights they can enjoy when.they are dead . To the 3.78 millions who lost their homes and become refugees in other countries, what human rights do they have? To me , these are real genocides pepetrated by the US and its allies . These muslim countries are just too weak to speak up and defend for themselves.

The lies on genocide in Xinjiang is just too obvious. Any genocide will be accompanied by huge influx of refugees who run for their lives to neighbouring countries. Did we see hundreds of thousands of Uyghurs refugees ruuning to pakistan,kazaskhtan or Bangladesh to seek protections from their muslim brothers ? On the contrary, the genocides on muslim Rohinyas were real and factual. For the past decade, millions of refugees ran for their lives to Thailand, Malaysia, Indonesia and Bangladesh. Did the US and Canada sanction Myammar on such blatant and obvious genocide? The west just cant see the big elephant in the room but can see the needle in the ocean. The hypocrisy and double standards are damn obvious.

MFCB announced dividend Ex date on 7th April and payment date on 19th April.

In history , all genocides will be followed by hundreds of thousands of refugees who feared for their lives. The most recent genocides was the Rohinyas. Every years , there were thousands of Rohinya refugees leaving Rakine seeking protections from all neighbouring countries. Did you see any Qighurs refugees in Pakistan borders in the last 5 years ?? If there are genocide, do you think the pakistan muslim brothers will keep quiet when their muslim brothers are massacred? The lies by US on Xinjiang is just too obvious.It will be very difficult for China to cooperate with US when the US is bent on demonise China through whatever means even to the extent of standing so low by fabricating lies..

Every year , there are.tens of thousands people die of FLU in Flu Epidemcis despite Flu vaccines are available decades ago. The Flu vaccine effectiveness can last for one year only. Flu viruses are mutating every now and then . The vaccines has to keep improving or upgrading to deal with the new variants. The covid viruses are behaving the same way as.flu virus. They will keep mutating. Vaccines have to keep improving too to deal with new covid 19 variants. We cant deoend on.vaccinations alone to reduce the infections. Preventive measures like wearing masjs.and gloves are still.important.to prevent infections.

blackleopard , agreed . A good example of fake news fabricated by US was the possession of WMD by.IRAQ in 2003 .They used such fake news to invade iraq and killed hundred of thousands and created millions of refugees. Now they tried to create another fake news on.genocide in.Xinjiang.

MM78 , Public Invest estimated 73 s eps.for 2021 and dividend yield of 2.4 %.

Oh, the border facility is so cramped . It is so unhumanitarian . This facility is.much much worst than the earlier topglove workers quarters which US and our local NGO s complained . Where is their human rights ? No proper toilets and sewerage systems. The local US government should take responsibility for the influx of these migrants.