Glove factory shutdown affects earnings, helps global competitors

Glove factory shutdown affects earnings, helps global competitors - Hello loyal readers FeedGoogle, In the article you are reading this time with the title Glove factory shutdown affects earnings, helps global competitors, We have prepared this article well for you to read and take information in it. hopefully the contents of the post Article Malaysians, what we write you can understand. Alright, happy reading.

The temporary shutdown of glove factories will not only affect company earnings but could also jeopardise their relationships with overseas buyers, especially when Malaysian glovemakers are facing escalating competition from China’s glovemakers.In a research note today, Maybank Investment Bank (Maybank IB) noted that Top Glove, Hartalega, and Kossan suspended the operations of their respective glove manufacturing facilities in Selangor on Tuesday due to the enforcement of the enhanced movement control order (MCO).The investment bank said it was taken aback by this and that gloves are an essential part of personal protective equipment (PPE). It added that the factories were allowed to operate during the first MCO.“Assuming a two-week suspension of glove factories in Selangor under the enhanced MCO, we expect our financial year 2021 (FY21) core net profit forecasts for Top Glove…