Analysts said Top Glove, along with the other rubber glove makers, has to face several headwinds at the moment.will likely post third-quarter financial numbers that show the performance of glove companies to be fully normalised to pre-pandemic levels as Covid-19 abates worldwide.
In its report in April, TA Research said most glove manufacturer’s foreign worker monthly take-home pay was estimated at around RM1,500 to RM2,000, inclusive of overtime earnings. Lau also noted that some of the newcomers that had entered the glove business during the pandemic were rumoured to be looking to sell out their stakes in the industry.
Other cost pressures would also come from higher utilities, natural gas and raw material costs, it said.
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