What Is The Fate Of Top Glove Stocks Like This?

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 Top Glove Corp Bhd confirmed that it will carry out the temporary closure of 28 factories in Klang, Selangor following the increase in Covid-19 infection cases among its employees. For everyone's knowledge, Top Glove, the largest glove manufacturer in the world, has 41 factories in Malaysia.


Referring to the announcement by the senior minister today, Top Glove will provide full cooperation with the authorities to implement the temporary closure of some of their manufacturing facilities in Meru, Klang.


It is common knowledge that Senior Minister (Security) Datuk Seri Ismail Sabri Yaakob has announced that a total of 28 Top Glove factories in Klang will stop operating in stages to allow factory workers to undergo mandatory inspections and quarantine in an effort to shape the spread of the virus among their workers.



Based on data released by the Ministry of Health (MOH), the Lotus group associated with Top Glove employees reported a total of 1,067 new cases of Covid-19 infection today.


To date, there are 2,524 positive cases (43.8%) reported related to the Lotus group, out of a total of 5,767 individuals who have been examined. Meanwhile, a total of 1,330 individuals were confirmed negative, while another 1,913 are still awaiting results.


In addition, the number of recent active cases in the cluster, involving patients at high risk of transmission and should be hospitalized and quarantined has reached a total of 2,359 cases of infection.


In this regard, Top Glove has temporarily stopped production at 16 facilities in Meru since November 18. Meanwhile, 12 other facilities have been operating with much lower capacity. In addition, they will continue the Covid-19 screening test recommended by the MOH against their factory workers and staff in Meru, Klang. This is because the safety and well-being of workers and the local community is their priority to curb and level the Covid-19 curve.