KUALA LUMPUR/SINGAPORE (Feb 6): Lim Wee Chai heads the world’s biggest glove-maker, with 43 factories that can churn out 70.5 billion pieces every year. Top Glove, which Lim founded in 1991, now expects sales will climb 25% this year, up from an earlier forecast of 10% to 15%. Malaysian manufacturers supply more than 60% of the world’s gloves and have said they plan to donate 18 million pieces of medical gloves to Wuhan, the epicenter of the crisis where local hospitals are appealing for additional protective medical supplies including masks and suits. Top Glove alone has pledged to donate 3 million pieces, with 1.3 million already shipped,and Lim said he’s confident it can meet future demand. Heightened concerns over the virus have also boosted the shares of Malaysian competitors including Hartalega Holdings Bhd.

Source: The Edge Markets February 05, 2020 18:45 UTC