Recently, as the clustered epidemic in the Top Glove factory of the world's largest rubber glove manufacturer gradually subsided in November, the Malaysian government has agreed to restart some of the closed factories, but the company still has a bunch of problems waiting to be resolved.
On December 14th, Malaysian Defense Minister Ismail Sabri Yaakob issued a statement stating that among the 28 Top Glove factories that were ordered to be shut down by the government after the outbreak in November, 14 factories where all employees completed testing and facilities disinfected were allowed to restart. The remaining factories will be opened in batches. However, for Top Glove, various problems revealed after the outbreak, including inadequate epidemic prevention and control measures, poor staff accommodation and production environments, will have a continuous negative impact on the company.
According to media reports, Top Glove fired a Nepalese employee in September this year because he took two photos of employees waiting for the night shift busily waiting for temperature measurement, showing that the factory did not comply with the epidemic prevention requirements to maintain social distance. Worse still is the staff dormitory. Earlier this month, the Malaysian Ministry of Labor stated that it would sue the company for "extremely crowded and poorly ventilated".
The Ministry of Health of Malaysia previously stated that more than 5,000 workers living in Top Glove’s factories and dormitories in Klang City were diagnosed with the infection, 94% of whom were foreigners. On Monday, the company confirmed that a 29-year-old Nepalese worker died of Covid-19 last weekend.
According to current statistics, Top Glove operates a total of 47 factories, 41 of which are in Malaysia, employing a total of 16,000 workers, half of which are in Klang, and most of them are foreign workers from Nepal and Bangladesh. In the financial report released last week, the company stated that in the past two months, it had spent a total of US$5 million on buying or leasing housing for employees, and set aside US$25 million for workers’ facilities and accommodation investment.
According to the company's annual report as of August this year, a total of US$470 million in profit was made in the previous fiscal year, more than five times the same period last year. Even more amazing is that the net profit during the reporting period from September to November this year reached a record 2.38 billion ringgit (approximately US$585 million), an increase of approximately 2030% from the 111 million ringgit in the same period last year.
But as of today, Top Glove, the world's largest rubber glove manufacturer, has fallen 8.70% as of Monday's close due to the impact of vaccine news.