KUALA LUMPUR, July 13 — Top Glove Corporation Bhd has emerged as the third biggest company on Bursa Malaysia, overtaking Tenaga Nasional Bhd (TNB), as the glove maker’s market capitalisation increased to RM64.73 billion as of the close of trading today. As at 5pm, Top Glove ended 9.5 per cent...
Top Glove Corporation Bhd has emerged as the third biggest company on Bursa Malaysia as the glove maker’s market capitalisation increased to RM64.73 billion as of the close of trading today. — Picture courtesy of Top Glove Corporation
He said the company currently has 45 factories, of which 34 are glove factories with 700 production lines that have the capacity to make a total of 78.7 billion pieces of gloves per annum. In a note today, Kenanga Research said it has raised Top Glove’s target price to RM32, taking into account the management’s guide that August gloves average selling price is set to be 30 per cent higher month-on-month instead of earlier guidance of +10 per cent.
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