Bursa Malaysia (KLSE) Stock Investment Portal

Top gloves are listed in Hong Kong
Chinapress Thu, Sep 17, 2020 07:40 pm-58 minutes ago

(Kuala Lumpur, 17th) The founder and executive chairman of TOPGLOV (TOPGLOV, 7113, the main board of healthcare) Tan Sri Lim Weicai pointed out that it will be listed in Hong Kong in the next 6 to 9 months to expand the scope of investors. Diversified investment groups.

He said: “Hong Kong’s financial market is larger, and listing in the country means expanding into a larger market so that the company can be eye-catching in the world. We hope it can be reached in 2021, and we are currently discussing the appropriateness with the bank. (To enter the Hong Kong market) way."

On the other hand, the average selling price of nitrile gloves and rubber gloves is increasing month by month, and it is expected to increase by 15% and 5% respectively in November, and then it depends on market conditions. However, Li Jinmou pointed out that it is estimated to increase by 10%. .

Top Gloves emphasized that strong demand and an increase in the average selling price of gloves will help the company deliver better performance in the future.

News about the imminent release of vaccines has been heard frequently recently, and new players have also been pouring into the glove field. However, Top Glove believes that global glove demand will continue to grow strongly in the next two years, and new players will not be able to put into production until two years later, so they are confident that the company will Not affected.

Top Gloves Managing Director Datuk Li Jinmou pointed out that in 2020, 2021 and 2022 the demand for gloves will grow by 20%, 25% and 15% respectively, totaling about 200 billion pieces, exceeding the supply in my country, Thailand and China.

At the same time, it may take several years for vaccines to be available globally. Coupled with increased hygiene awareness in the medical and non-medical fields, Li Jinmou believes that even in the later stages of the epidemic, the demand for gloves will continue to grow substantially.

"In addition, the new glove industry will not be able to officially put into production until 2 years later, and their scale is smaller, and now glove raw materials are more difficult to obtain, so they are not very competitive."

The current order value of top gloves is 85 billion ringgit; the demand for gloves in the Asian market in the last quarter has grown particularly strong, as high as 110%; followed by Western Europe (up 73%) and Eastern Europe (up 64%).