General
World’s top latex glove maker Top Glove closes factories in Malaysia due to coronavirus outbreak
The world’s largest rubber glove maker has temporarily halted production at more than half of its factories while it screened and quarantined its workforce after more than 2,000 employees tested positive for COVID-19.
Key points:
- Top Glove has temporarily stopped production at 16 of its 28 facilities
- Of 5,767 workers screened for coronavirus, 2,453 have tested positive
- The company has been accused of labour abuses in recent years
Top Glove’s shares were down as much as 7.5 per cent by late Tuesday morning after the Malaysian Government said 28 factory buildings would be shut in phases.
The company, which commands a quarter of the global latex glove market, has racked up record profits this year on skyrocketing demand for its products and…
-
Business18 hours agoBroker names 2 small cap ASX shares to buy for big returns
-
Noosa News24 hours agoQueenslanders not out of the woods as more storms, heatwave conditions to continue after horror three days
-
Noosa News17 hours agoMin Woo Lee, Adam Scott and Cameron Smith in the mix after Australian PGA opening round in Brisbane
-
Business17 hours agoThese top ASX 200 stocks could rise 25% to 60%