KUALA LUMPUR: Top Glove Corporation Bhd will see a compressed profitability margin for this year due to oversupply and low average selling prices (ASP...
Top Glove Corporation Bhd will see a compressed profitability margin for this year due to oversupply and low average selling prices .
“While this oversupply situation persists, we have observed some improvements lately. This is mainly because some players have started to slow down or even close down operations due to sustained losses. As a result, both newer and smaller players, along with some existing ones, are now holding back on their capacity expansion,” he toldHe said there was a notable improvement last year showed compared to 2022.
“Additionally, Malaysia is currently facing a freeze on foreign workers, which is another challenge we need to navigate. In a research note, UOB Kay Hian said there might be increased trading sentiment in the local glove sector as demand for medical products may surge if the mpox escalates into a worrying outbreak. It added that glove stocks still have an upside, solely on fundamentals, even without taking mpox into account.
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