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Top Gloves will be the epicenter of Malaysia’s Covid resurrection

Singapore — Top Glove, the world’s largest manufacturer of medical gloves, has closed 20 manufacturing sites in Malaysia after thousands of workers tested positive for Covid-19.

Citing Malaysia’s Minister of Security and Defense Minister Ismail Sabri Yaakob, local media reported that as of Wednesday, a total of 2,684 Top Glove employees (mostly foreign workers) were positive.

It’s by far the largest cluster New outbreaks in Southeast Asian countries have forced the government to impose a new round of partial blockades due to the resurgence of the incident, according to data from the Ministry of Health of Malaysia.

National authorities are testing all top glove workers in affected factories and dormitories for coronavirus. Trade and Industry Minister Mohammed Azmin Ali told CNBC Thursday that the government hopes to “alleviate the problem within the next two weeks.”

“It’s a shame that we’ve had some problems with the positive cases recorded at the factory lately,” he told CNBC’s “Street Signs Asia.”

Azmin pointed out that Top Globe is one of the companies allowed to continue full operation during the Malaysian blockade because it is important for both the local and global markets.

The company has seen an increase in demand for its products as a result of a pandemic. It contributed to the soaring price of the stock.

Top Globe shares listed in Malaysia and Singapore According to Refinitiv data, it was depressed after the announcement of the factory closure, but it is still up more than 300% in both markets this year.

Topgrove said in a statement Wednesday that about 5,700 of its workers had been tested for the virus. Screening for the remaining employees may be completed by the end of this week.

Top Gloves will be the epicenter of Malaysia’s Covid resurrection

Source link Top Gloves will be the epicenter of Malaysia’s Covid resurrection

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