Top Glove clarifies headcount affected by EMCO

Top Glove Corp Bhd has clarified that the 14-day enhanced movement control order (EMCO) which comes into effect from today (Nov 17) till Nov 30 will affect about 5,700 of its workforce in Meru, Klang and not 13,190 workers as reported.

“This represents about 27% of our total employees of 21,000,” the world’s biggest world manufacturer pointed out in a media statement.

“Our factories in Meru, Klang continue to operate with reduced capacity and workers not under EMCO are working under strict SOPs in alignment with guidelines from the Ministry of Health.”

Top Glove added the majority of the affected workers are asymptomatic and do not have symptoms like fever or any sickness.

All-in-all, Top Glove has 47 production plants (41 in Malaysia, four in Thailand, one in China and one in Vietnam) comprising 36 glove factories, latex concentrate plants (two), chemical factories (three), former glove factory (one), packaging material factories (two), dental dam factory (one), condom factory (one) and face mask factory (one).

At 12.30pm, Top Glove was down 55 sen or 7.64% at RM6.65 with 95.33 million shares traded, thus giving the company a market capitalisation of RM54.5 bil.

Click here for our earlier story on Top Glove (with opinions expressed by market analysts).

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