KUALA LUMPUR (Oct 7): Glove makers have paused on share buy-backs despite stock prices nearing their lowest in a year. As at the noon break on Thursday, Top Glove Corp Bhd's share price has fallen to RM2.75 from its 12-month peak of RM9.60 in October 2020, Hartalega Holdings Bhd's to RM5.96 from RM19.04, Supermax Corp Bhd's to RM2.29 from RM10.70 and Kossan Rubber Industries Bhd's to RM2.28 from RM8.13 in the same period.
MALAYSIA is currently a major producer of rubber gloves for the world, addressing 65% of global supply needs in 195 countries. This industry has been a significant contributor to the Malaysia’s GDP with export revenue projected to hit RM60 billion for 2021. The Malaysian rubber glove industry boomed globally back in the 1980s catalysed by the demand for rubber gloves during the HIV/AIDS epidemic. The significant use of disposable rubber gloves continued to rise in the wake of infectious disease outbreaks such as SARS, Ebola and others, and the increased care for hygiene.