World’s largest medical glove maker becomes the epicenter of Malaysia’s Covid resurgence

SINGAPORE — Top Glove, the world’s largest medical glove maker, has shut 20 manufacturing websites in Malaysia after 1000’s of employees examined constructive for Covid-19.

A complete of 2,684 Top Glove staff — most of them overseas employees — have examined constructive as of Wednesday, native media reported, citing Malaysia’s Senior Minister for Security and Minister of Defence Ismail Sabri Yaakob.

That’s by far the largest cluster of new infections in the Southeast Asian nation, the place a resurgence in circumstances compelled the authorities to reimpose a contemporary spherical of partial lockdown measures, in accordance with knowledge by Malaysia’s well being ministry.

Authorities in the nation are testing all Top Glove employees in the affected factories and dormitories for the coronavirus. Minister of International Trade and Industry Mohamed Azmin Ali informed CNBC on Thursday that the authorities hopes to “mitigate this problem within next two weeks.”  

“It is very unfortunate that recently, there (were) some issues in terms of the positive cases recorded at the factories,” he informed CNBC’s “Street Signs Asia.”

Azmin identified that Top Glove was one of firms allowed to proceed with full operations all through Malaysia’s lockdown, given its significance to each the native and world markets.

The firm has seen a rise in demand for its merchandise because of this of the pandemic. That contributed to a surge in the value of its shares.

Shares of Top Glove listed in Malaysia and Singapore dipped following bulletins of its manufacturing facility closures, however they’re nonetheless up by greater than 300% thus far this yr in each markets, knowledge by Refinitiv confirmed.

Top Glove stated in a Wednesday assertion that some 5,700 of its employees have been examined for the virus, and screening of the remaining staff could also be accomplished by finish of this week.  

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