Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Commodities  >  London Caoutch.       

LONDON CAOUTCH.

SummaryChartsNews 
SummaryMost relevantAll NewsMarketScreener Strategies

COVID outbreak hits top rubber glove maker

11/24/2020 | 09:28am EST

A COVID-19 outbreak has hit Malaysia's Top Glove, the world's biggest rubber glove maker.

After nearly two and a half thousand workers tested positive, hostels on the outskirts of Kuala Lumpur went into lockdown.

With police and the army keeping watch.

The firm said some deliveries could be delayed by four weeks, and new orders could take longer to process.

Top Glove's shares slumped by 7.5% on Tuesday (November 24), after the government said 28 factory buildings would be temporarily shut in phases.

The company has about 16,000 employees and runs 47 factories across Malaysia, Thailand, China and Vietnam.

It commands a quarter of the global latex glove market, and has racked up record profits as demand has sky-rocketed due to the pandemic.

Its shares have surged more than four-fold this year, even after Tuesday's fall.

Malaysia makes just under two thirds of the world's rubber gloves -- with Hartalega Holdings and Supermax the other two top manufacturers there.

The coronavirus cluster around the Meru factory and dormitory area is the country's largest active one, and its second largest since the pandemic started.


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
HARTALEGA HOLDINGS -0.81% 12.2 End-of-day quote.0.49%
SUPERMAX CORPORATION 0.90% 6.7 End-of-day quote.11.48%
All news about LONDON CAOUTCH.
01/15China Shanghai Rubber Futures Closing Prices, Volume
DJ
01/13China Shanghai Rubber Futures Closing Prices, Volume
DJ
01/11China Shanghai Rubber Futures Closing Prices, Volume
DJ
01/08GOODYEAR TIRE & RUBBER : Upgraded by KeyBanc With Gains Seen From Antidumping Du..
MT
01/08COOPER TIRE & RUBBER : KeyBanc Adjusts Price Target on Cooper Tire & Rubber to $..
MT
01/08GOODYEAR TIRE & RUBBER : KeyBanc Upgrades Goodyear Tire & Rubber to Overweight F..
MT
01/08China Shanghai Rubber Futures Closing Prices, Volume
DJ
01/06China Shanghai Rubber Futures Closing Prices, Volume
DJ
01/05Nomura Downgrades Goodyear Tire & Rubber to Reduce From Neutral, Adjusts Pric..
MT
01/04China Shanghai Rubber Futures Closing Prices, Volume
DJ
More news
Chart LONDON CAOUTCH.
Duration : Period :
London Caoutch. Technical Analysis Chart | MarketScreener