Top Glove expects delay, 3% impact on projected annual sales

by NUR HANANI AZMAN / pic by TMR FILE PIX

TOP Glove Corp Bhd is expecting delays in some deliveries by about two to four weeks, as well as a longer lead time for orders following the closure of plants due to Covid-19 infections among its employees.

The glovemaker estimates a possible 3% impact on projected annual sales for the financial year 2021.

“We have temporarily stopped production in 16 of our facilities in Meru, Klang beginning November 17, with the balance of 12 facilities operating at much-reduced capacities.

“To minimise the impact on our customers, we are allocating sales orders to unaffected factories and rescheduling deliveries where possible,” it said in a statement.

Top Glove’s share price closed 55 sen or 7.48% lower at RM6.80, bringing the group a market capitalisation of RM55.73 billion.