Top Glove was responding to enquries on how much savings Top Glove will derive from the deferment of its planned glove output capacity expansion and how the company will use the money which was originally set aside for glove output capacity expansion. Top Glove however did not specify how much savings it will derive from the deferment of its planned glove output capacity expansion. According to Top Glove's output capacity expansion chart in its corporate presentation, the manufacturer's annual glove output capacity stood at 90 billion pieces in December 2020 before growing to 100 billion pieces in December 2021. The figure is expected to be maintained at 100 billion pieces by end 2022, according to Top Glove, which had earlier planned to expand its annual glove output capacity to 156 billion pieces by December 2025. Looking ahead, Top Glove's proposed glove output capacity expansion is unlikely to materialise based on current forecasts as the manufacturer aligns its capacity expansion with global glove demand and supply at a time when Covid-19 concerns have eased due to vaccination progress.
Source: The Edge Markets June 23, 2022 13:14 UTC