Meanwhile, Malaysia-based Top Glove, the world’s largest glove manufacturer, saw its shares on the Singapore bourse plunge 12.8 per cent or S$1.16 to S$7.87 at around 10.34am.
The counter rapidly retreated 18.5 per cent or S$0.625 to S$2.745 by around 9.36am on Wednesday. It regained some ground to trade at S$2.99 as at the midday break, with 7.1 million shares traded. Revenue surged 80.9 per cent on the year to S$91 million from S$50.3 million, boosted by the higher volume and selling prices of gloves, UG Healthcare said in results released on Tuesday evening. The higher revenue came amid the exponential increase in demand for disposable healthcare and medical gloves worldwide due to the novel coronavirus outbreak, particularly in the April-June period.