Hartalega Holdings Bhd Chairman Kuam Kam Hon said that the United States (US) tariffs have supported Malaysian businesses and changed the structure of the glove market.
The lower tariff rate on Malaysian goods compared to higher duties on China has given local manufacturers a competitive advantage, especially in the glove industry.
Hartalega recorded a stronger performance for the financial year ended March 31, 2025 (FY25) with a net profit of RM74.5 million compared to RM12.5 million in the previous year.
The group also reported an increase in revenue to RM2.59 billion for FY25 compared to RM1.84 billion in FY24.
The nitrile glove manufacturer said its performance was affected by lower selling prices and lower sales volume, as US customers stockpiled inventory due to tariff uncertainty.
The group showed a positive recovery in global demand, with glove consumption in 2024 exceeding pre-restriction levels by more than 25%.
Hartalega aims to improve production efficiency, accelerate automation, optimize costs and sharpen sales strategies to support long-term growth.
