Top Glove Corporation Bhd.: A Leading Rubber Glove Manufacturer
Added on 2021-06-02
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TOP GLOVE: 10 Questions & Answers
| Established in 1991 and headquartered in Malaysia, Top Glove Corporation Bhd is the world’s largest manufacturer of gloves capturing 26% of the world’s market share for rubber gloves. The company has manufacturing operations in Malaysia, Thailand, China and Vietnam. Top Glove offers a comprehensive product range, which now includes a non-glove segment comprising condoms, face masks, dental dams and exercise bands. Link to |
1. What are some notable developments that Top Glove’s shareholders can look forward to? • We believe that global demand for gloves will continue to be robust, growing by c.25% in 2021, especially given the current pandemic. Average Selling Prices (ASP) have also been increasing monthly, along with higher raw material and operating costs. We have since allocated 30% of our total capacity for spot orders and are fully sold for the next 3 months.
| • Post-pandemic, global demand for gloves is expected to grow at 15%, higher than pre-pandemic given the increased awareness and best practices adopted in medical and non-medical sectors. |
• Pre-pandemic, we had a lead time of around 30 to 40 days. Given the increased demand, our current lead time has extended to 620 days for nitrile gloves, 400 days for natural rubber gloves, 250 days for vinyl gloves and 110 days for surgical gloves.
• The lead time for natural rubber gloves has shortened since July 2020, following new natural rubber glove production lines coming onstream and the switching of some surgical glove production lines to produce natural rubber gloves. Lead times by product are depicted below:
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| • As a protective barrier for medical personnel in the healthcare sector
• Increasing hygiene standards and healthcare awareness for both medical and non-medicalsector
• Progressively stringent healthcare regulations
• Healthcare reforms in US and China, and regulations such as OSHA in US, EU-OSHA in Europe, SESI in Brazil
• Emergence of health threats such as COVID-19, H1N1, SARS, bird flu, Ebola, bio-terrorism |
6. What are Top Glove’s plans to increase its manufacturing production capacity and how much capital spending is budgeted over the next few years for the different phases of its capacity enhancements? • We will continue to expand our capacity to ensure that we are well-positioned to fulfil global glove demand, which is expected to grow from a pre-COVID-19 level of about 10% per annum, to about 15% per annum postCOVID-19, on the back of increased usage in both the medical and non-medicalsectors. • We have earmarked RM10 billion of capital expenditures over the next 5 years from FY2021 to 2025, to provide us with additional capacity of 100 billion pieces of gloves. Factory F41, which is the Group’s first factory in Vietnam, is expected to come onstream in October 2020, the initial production capacity for which is approximately 2.4 billion pieces of gloves from its 10 production lines. 7. What research & development (R&D) plans does Top Glove have to boost efficiency? • Top Glove continues to focus on R&D, invest in talent by recruiting researchers to develop more automation and artificial intelligence, and embark on industry 4.0 digitalisation. We now have 752 researchers and 6 R&D centres as at September 2020. We also employ 1,500 graduates and experienced talents annually to ensure a strong staff force. • Over the years, we have improved our productivity by 80%, reducing from 8.4 Workers Per Million (WPM) pieces of gloves to the current 1.8 WPM and expect this number to continue to decrease. We will continue to invest in R&D towards enhancing the Group’s productivity and efficiency – hence Top Quality, Top Efficiency. 8. What is the Group’s current dividend policy? Will the Group maintain or change this policy going forward? • Top Glove has a dividend payout policy of 50% of PAT after minority interests. For FY2020, we have a dividend payout ratio of 51%, with 8.5 sen final dividend to be paid on 3 November 2020. We have revised the dividend payments to be on a quarterly basis effective FY2021 in January, April, July and November, and we will review the policy going forward. 9. What is Top Glove’s value proposition to its shareholders and potential investors?
• Top Glove has delivered a shareholders’ return of 40,679% over the past 20 years since our IPO in 2001. In just 4 years of our listing on the SGX, we have generated total shareholders return of 987% since 2016.
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• We have seen steady growth since our listing in 2001, with Revenue CAGR grown 23.1%, PAT CAGR grown 28.6%, average PAT margin grown 12.2%. (Data for FY ending 31 Aug 2020) • We achieved stellar performance in FY2020, with strong growth in sales quantity of 17% and added additional 21 billion pieces of capacity with production utilization of above 95%. We also saw higher operational efficiency from ongoing upgrading and productivity enhancement, and higher ASPs in line with strong market demand. 10. What do you think investors may have overlooked about Top Glove’s business? • Top Glove is committed to delivering sustainable economic performance and generating attractive returns for our shareholders. We have taken steps to ensure that our internal supply chains are sustainable, by establishing our own plants and factories which include 2 latex concentrate plants, 3 chemical factories, a glove former factory and 2 packaging material factories. • In addition, we have a nitrile latex plant and a gamma sterilisation plant in our pipeline, as we work towards establishing a comprehensive in-house supply chain. This integrated supply chain will enable us to be more competitive in the industry. • As a healthcare products manufacturer, we believe that we are well able to increase our product range in terms of medical gloves, face masks and dental dams to cater to the very strong global demand for personal protective equipment and continue to expand our capabilities in producing healthcare related products.
Designed to be a short read, 10 in 10 provides insights into SGX-listed companies through a series of 10 Q&As with management. Through these Q&As, management will discuss current business objectives, key revenue drivers as well as the industry landscape. Expect to find wide-ranging topics that go beyond usual company financials. This report contains factual commentary from the company’s management and is based on publicly announced information from the company.
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Steven Kwan #38
2024 Regular Season
| AB | AVG | HR | RBI | SB | OPS |
| 432 | .301 | | 40 | 11 | .804 |
| AB | AVG | HR | RBI | SB | OPS |
| 432 | .301 | | 40 | 11 | .804 |
Career Regular Season
| AB | AVG | HR | RBI | SB | OPS |
| 1633 | .287 | 24 | 146 | 51 | .757 |
| AB | AVG | HR | RBI | SB | OPS |
| 1633 | .287 | 24 | 146 | 51 | .757 |
Steven Kwan Bio
- Fullname: Steven Robert Kwan
- Born: 9/05/1997 in Los Gatos, CA
- Draft: 2018, Cleveland Indians, Round: 5, Overall Pick: 163
- College: Oregon State
- Debut: 4/07/2022
Led the team in runs, games and doubles in his sophomore Big League season, becoming the first player to win SIS Fielding Bible Awards in each of their first two seasons...His combined bWAR of 9.1 is the second-highest mark in club history over a players first two years with Cleveland...Also made it two-for-two in Rawlings Gold Glove Awards, leading MLB LF (16) in Def. Runs Saved, giving him 37 for his two-year career (third-most in MLB since 2022)...Reached base safely in 128 of 154 starts, leading the league in singles (123)...T6th in AL with 20 INF hits...Reached base via hit/ walk in 18 straight games, April 19-May 9 (tied season-high by CLE batter)...Became the second player in club history to collect five RBI in single-game within first two team games on March 31 at Seattle (Larry Doby; 1953)...Hit .339 (43-for-127) vs AL West & .298 (65/218) with runners on...Was fourth in AL with 2843 pitches seen.
Led Major League left fielders in bWAR (5.5) and led all ML rookies in hits (168) and runs (89), compiling a historic rookie year on his way to a Rawlings Gold Glove award and third-place finish in the AL Rookie of the Year voting…Finished second among all Major League rookies with a 5.5 bWAR behind Seattle ROY Julio Rodríguez (6.2)...His 168 hits were the most by a Cleveland rookie batter since Hal Trosky (206) in 1934 and his .298 average was the highest by a qualified Cleveland rookie since Larry Doby in 1948...Overall was the eighth-highest single-season hit total by a rookie in club history (T-10th-highest run total)...43 multi-hit games were second in club history by a rookie (Kenny Lofton 48, 1992)...Kwan was the first qualified CLE rookie to finish with more walks than strikeouts since Kenny Lofton in 1992 (1.26 BB/SO) and the first in MLB since BOS's Dustin Pedroia in 2007 (1.12 BB/SO)...Made 110 starts in LF, six starts at DH and four starts in CF...Was a unanimous winner of an SIS Fielding Bible Award, leading all Major League left fielders in Defensive Runs Saved (21) and zone rating (.929) in addition to AL LF in total chances (233), compiling a .991 (233TC/9E/7 assists) fielding pct…Became just the sixth rookie to win a Rawlings Gold Glove since 1990 and just the second in Cleveland history, joining Sandy Alomar, Jr. in 1990 (last rookie was CWS CF Luis Robert in 2020)...Season got off to a torrid start, hitting .354 (17/48) in 15 April games (10RS, .959 OPS) on his way to AL Rookie of the Month honors…The eight hits through his first three career games (@KC, 4/7-10) were T-second-most ever (MLB 1901) after a five-hit game on April 10...second player since 1933 to record a five-hit game within first three career MLB games, joining CWS Yermín Mercedes(2021)...His .800 (8-for-10) avg was tied w/Mercedes for highest over a player's first three career games since at least 1901(min. 10 PA)…Reached 18 times, 4/7-12 (10-for-15, 7BB, HBP), most through a player's first five career games in MLB history (since 1900)...League adjusted in May (.173, 13/75) but he went on over .295 the remaining months, including .341 in June and .325 in September (21 runs, 28G) to take him Sept. AL Rookie of the Month honors (second in AL in H, T-fifth in Sept. RS)…53 times on base in Sept. were the most in calendar month by a Cleveland rookie since Max Alvis in June 1963 (55)...Second in MLB in 2nd half hits (91)...AL Second Half Leaders: Hits (second, 91), R (fourth, 50), AVG (sixth, .317), OBP (eighth, .384), SB (third, 14)...MLB Rookie Ranks: R (first, 89), AVG (first, .299), Hits (first, 168), BB (thirs, 62), on-base pct (first, .373)...Enjoyed a club season-high & career-high 18-game hit streak, 7/14-8/4 (longest by CLE rookie since 2010)...Didn’t post consecutive hitless games between 7/6 and 8/30, scored 22 runs in his last 24 games and over his last 17 games he hit .382 (29/76, 17R, 8XBH, 13RBI) to end the season…Walked 4x on Sept. 10 at MIN (club-high in ’22)...After taking over leadoff on June 21 he batted .311 (128- for-411) with 19 2B, 67 runs and a .379 OB% in 99 starts (club was 60-39(.606) in starts in 1-hole)…Led AL in July hits (38) as his 109 hits after June 30 were T-first in MLB with Freddie Freeman…First career grand slam & career-high 5RBI in division-clinching win at Texas on Sept. 25...After going hitless in two starts in the ALWC vs. TB, went on to hit .429 (9/21) in five ALDS games vs. the Yankees, bringing his postseason average to .300 (9/30) in seven games…Hit the first Postseason HR of his career in Game 1 of ALDS @ NYY (fourth rookie in franchise history to hit a HR in a postseason game)…His nine hits in ALDS most by a CLE rookie in a postseason series (prev: A Cabrera 2007 ALCS; L Doby 1948 WS in seven each) and most by an MLB rookie in an ALDS since HOU Yuri Gurriel in 2017 (nine; Ichiro’s 12 in 2001 is ALDS record).
Batted a combined .328 (97-for-296) for the year between Akron and Columbus (15 2B, 4 3B, 12 HR, 44 RBI)...Named an MILB.com Organizational All-Star...Fanned only 31 times in 341 plate appearances...His 65 runs scored were eighth-most in the Cleveland Minor League system despite missing seven weeks with a right hamstring strain (May 7-June 24)...Began the year in Akron, kicked it in gear on July 23, batting .377 (46-for-122) over his final 32 Double-A games (8 2B, 6 HR, 21 RBI, 30 runs, .458 OBP) before being promoted to AAA Columbus on August 30... Proceeded to bat .538 (14-for-26) over his first seven games with the Clippers (9 RS, 3 2B, 2 HR, 7 RBI)...Reached base safely in 20 straight games (8/14-9/7) and hit in 12 straight (8/25-9/7) between the two levels...Hit safely in 21 of 26 Triple-A games and reached base safely in 23 of those contests, good enough for a .398 on-base pct. and .903 OPS at AAA... Among AAA hitters from Sept. 1-on, he finished tied for third in runs (23), tied for fifth in hits (32) and tied for eighth in total bases (52)...Enters 2022 the best defensive OF (Baseball America)... On the year, he batted .337 (76-for-225) with 12 2B, 4 3B, 8 HR, 36 RBI and .295 (21- for-71) with 7 XBH...Batted .316 (36-for-114) with runners on and .373 (25-for-67) with RISP...On the year, he appeared in 45 games in CF, 15 games in LF and 11 games in RF.
| Year | AB | R | H | HR | RBI | SB | AVG | OBP | OPS |
| 2024 Regular Season | 432 | 75 | | | 40 | 11 | .301 | .364 | .804 |
| Career Regular Season | 1633 | 257 | 469 | 24 | 146 | 51 | .287 | .358 | .757 |
| Year | AB | R | H | HR | RBI | SB | AVG | OBP | OPS |
| 2024 Regular Season | 432 | 75 | | | 40 | 11 | .301 | .364 | .804 |
| Career Regular Season | 1633 | 257 | 469 | 24 | 146 | 51 | .287 | .358 | .757 |
- Status: Active
- Next CLE Game: 08-30 vs PIT
| Duration | AB | R | H | HR | RBI | BB | SO | SB | AVG | OBP | SLG |
| Last 7 Games | 29 | 4 | 5 | 0 | 4 | 4 | 3 | 0 | .172 | .273 | .207 |
| Last 15 Games | 61 | 6 | 9 | 0 | 4 | 7 | 6 | 2 | .148 | .235 | .164 |
| Last 30 Games | 117 | 18 | 23 | 3 | 11 | 15 | 11 | 5 | .197 | .288 | .299 |
| Duration | AB | R | H | HR | RBI | BB | SO | SB | AVG | OBP | SLG |
| Last 7 Games | 29 | 4 | 5 | 0 | 4 | 4 | 3 | 0 | .172 | .273 | .207 |
| Last 15 Games | 61 | 6 | 9 | 0 | 4 | 7 | 6 | 2 | .148 | .235 | .164 |
| Last 30 Games | 117 | 18 | 23 | 3 | 11 | 15 | 11 | 5 | .197 | .288 | .299 |
| Last 3 Games | AB | R | H | HR | RBI | BB | SO | SB |
| 8/28 vs KC | 4 | 1 | 2 | 0 | 1 | 1 | 0 | 0 |
| 8/27 vs KC | 4 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| 8/26 vs KC | 5 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
| Last 3 Games | AB | R | H | HR | RBI | BB | SO | SB |
| 8/28 vs KC | 4 | 1 | 2 | 0 | 1 | 1 | 0 | 0 |
| 8/27 vs KC | 4 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| 8/26 vs KC | 5 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
Steven Kwan's RBI single
Steven Kwan's RBI walk
Steven Kwan's nifty diving catch
Clutch 'pen, Kwan help Guardians take set between MLB's top teams
Zone charts, car player of the week.
| Week | Team | League |
| 08/11/2019 | Lynchburg Hillcats | CAR |
INT Player of the Week
| Week | Team | League |
| 09/05/2021 | Columbus Clippers | AAA E |
MiLB.com Organization All-Star
| Year | Team | League |
| 2021 | Cleveland Indians | AL |
AL Rookie of the Month
| Month | Team | League |
| 04/2022 | Cleveland Guardians | AL |
| 09/2022 | Cleveland Guardians | AL |
MLB Play of the Week
| Week | Team | League |
| 06/19/2022 | Cleveland Guardians | AL |
| 08/28/2022 | Cleveland Guardians | AL |
AL Player of the Week
| Week | Team | League |
| 09/25/2022 | Cleveland Guardians | AL |
Baseball America Major League All-Rookie Team
| Year | Team | League |
| 2022 | Cleveland Guardians | AL |
Rawlings AL Gold Glove
| Year | Team | League |
| 2022 | Cleveland Guardians | AL |
| 2023 | Cleveland Guardians | AL |
AL All-Star
| Year | Team | League |
| 2024 | Cleveland Guardians | AL |
League Rankings
| Year | R | Rank |
| 2024 | 75 | 15th in AL |
| 2023 | 93 | 12th in AL |
| 2022 | 89 | 11th in AL |
| Year | 3B | Rank |
| 2024 | 3 | 23rd in AL |
| 2023 | 7 | 4th in AL |
| 2022 | 7 | 2nd in AL |
| Year | H | Rank |
| 2024 | 130 | 17th in AL |
| 2023 | 171 | 7th in AL |
| 2022 | 168 | 9th in AL |
Batting Average
| Year | AVG | Rank |
| 2024 | .301 | 5th in AL |
| 2023 | .268 | 18th in AL |
| 2022 | .298 | 9th in AL |
| Year | AB | Rank |
| 2023 | 638 | 4th in AL |
| 2022 | 563 | 17th in AL |
On Base Percentage
| Year | OBP | Rank |
| 2024 | .364 | 8th in AL |
| 2023 | .340 | 18th in AL |
| 2022 | .373 | 10th in AL |
Caught Stealing
| Year | CS | Rank |
| 2024 | 4 | 25th in AL |
| 2022 | 5 | 17th in AL |
Stolen Bases
| Year | SB | Rank |
| 2023 | 21 | 19th in AL |
| 2022 | 19 | 14th in AL |
Plate Appearances
| Year | PA | Rank |
| 2023 | 718 | 4th in AL |
| 2022 | 638 | 17th in AL |
Games Played
| Year | BP | Rank |
| 2023 | 158 | 8th in AL |
| Year | 2B | Rank |
| 2023 | 36 | 9th in AL |
On Base Plus Slugging
| Year | OPS | Rank |
| 2024 | .804 | 16th in AL |
Latest Transactions
| Team | Date | Transaction |
| | July 3, 2024 | OF Steven Kwan assigned to American League All-Stars. |
| | May 31, 2024 | Cleveland Guardians activated OF Steven Kwan from the 10-day injured list. |
| | May 28, 2024 | Cleveland Guardians sent OF Steven Kwan on a rehab assignment to Columbus Clippers. |
| | May 28, 2024 | Cleveland Guardians sent OF Steven Kwan on a rehab assignment to Columbus Clippers. |
| | May 28, 2024 | Cleveland Guardians sent OF Steven Kwan on a rehab assignment to Columbus Clippers. |
| | May 25, 2024 | Cleveland Guardians sent OF Steven Kwan on a rehab assignment to Lake County Captains. |
| | May 6, 2024 | Cleveland Guardians placed OF Steven Kwan on the 10-day injured list retroactive to May 5, 2024. Left hamstring strain. |
| | April 4, 2022 | Cleveland Guardians activated OF Steven Kwan. |
| | April 4, 2022 | Cleveland Guardians activated OF Steven Kwan. |
| | April 4, 2022 | Cleveland Guardians activated OF Steven Kwan. |
| | November 19, 2021 | Cleveland Indians selected the contract of OF Steven Kwan from Columbus Clippers. |
| | August 31, 2021 | OF Steven Kwan assigned to Columbus Clippers from Akron RubberDucks. |
| | June 25, 2021 | Akron RubberDucks activated OF Steven Kwan from the 7-day injured list. |
| | May 8, 2021 | Akron RubberDucks placed OF Steven Kwan on the 10-day injured list. Right hamstring strain. |
| | April 29, 2021 | OF Steven Kwan assigned to Akron RubberDucks from Lake County Captains. |
| | February 13, 2021 | OF Steven Kwan assigned to Cleveland Indians. |
| | February 13, 2021 | OF Steven Kwan assigned to Cleveland Indians . |
| | February 13, 2021 | OF Steven Kwan assigned to Cleveland Indians. |
| | February 12, 2021 | CF Steven Kwan assigned to Lake County Captains. |
| | February 12, 2021 | CF Steven Kwan assigned to Lake County Captains. |
| | February 29, 2020 | CF Steven Kwan assigned to Cleveland Indians. |
| | March 29, 2019 | CF Steven Kwan assigned to Lynchburg Hillcats. |
| | March 29, 2019 | CF Steven Kwan assigned to Lynchburg Hillcats from Mahoning Valley Scrappers. |
| | March 20, 2019 | CF Steven Kwan assigned to Cleveland Indians. |
| | August 29, 2018 | CF Steven Kwan assigned to Mahoning Valley Scrappers from AZL Indians 1. |
| | August 10, 2018 | AZL Indians 1 activated CF Steven Kwan. |
| | July 4, 2018 | OF Steven Kwan assigned to AZL Indians 1. |
| | July 3, 2018 | Cleveland Indians signed OF Steven Kwan. |
IMAGES
COMMENTS
Top Glove is a one-stop-sourcing facility delivering high quality, reliable and affordable gloves consistently. Top Glove products are a vital component of healthcare, ensure the protection of humans and help save lives.
Top Glove continues to create high -quality and inexpensive gloves that effectively follow time -tested Business Directives with the help of its 22,000 employees. Top Glove has also set higher goals for itself, such as becoming a Fortune Global 500 company by 2030.
We choose Top Glove Corporation Berhad for our group because the top glove is one of the big firms in Malaysia, obviously, because of the pandemic, top glove as we know is the largest manufacturer that produces rubber latex goods for medical purposes in the world, the company itself hold almost 26% of production in the world.
Top glove Group Assignment - Free download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or view presentation slides online. Malaysia is the world's leading glove producer, supplying about 70% of global demand. During the Covid-19 pandemic, demand and new industry players in Malaysia sharply increased.
TOP_GLOVE_RISK_ASSIGNMENT.docx.docx - Free download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or read online for free. This document discusses Top Glove's risk management process. It outlines their objectives to identify and manage risks. Top Glove follows the COSO enterprise risk management framework. This includes identifying risks from internal and external events that ...
Top Glove management assignment - Free download as PDF File (.pdf), Text File (.txt) or read online for free. Principle of Management assognment
Assignment faculty of business and accountancy nov 2020 semester session strategic management (pms 3393) assignment company name group lecturer top glove
Discover Top Glove, the world's largest rubber glove manufacturer, its mission, leadership, and quality control for global human protection.
This is one of the important technology processes in manufacturing latex glove nowadays because most of the glove makers are producing the latex gloves with powder-free. Top Glove produces latex powder and powder-free gloves. Basically, the powder-free latex gloves are transformed from powdered gloves when the powder is removed.
Top Glove Financial Assignment - Free download as PDF File (.pdf), Text File (.txt) or read online for free. This document provides an overview of Top Glove Corporation Berhad, the world's largest manufacturer of rubber gloves.
Established in 1991 and headquartered in Malaysia, Top Glove Corporation Bhd is the world's largest manufacturer of gloves capturing 26% of the world's market share for rubber gloves. The company has manufacturing operations in Malaysia, Thailand, China and Vietnam. Top Glove offers a comprehensive product range, which now includes a non-glove segment comprising condoms, face masks, dental ...
Top Glove Financial Analysis (Ratio) bfm 5959 accounting and finance for international manager group assignment:top glove sdn bhd student id number ng shean min
Individual Assignment. Malaysia's Top Glove Corporation Berhad, the world's largest glove maker, expects a product shortage as demand from Europe and the United States spikes because of the widening Covid-19 coronavirus outbreak is exceeding its capacity. The company has extended shipping times to cope with the almost double demand surge ...
Top Glove, the world's largest manufacturer of natural rubber gloves, exports to over 195 countries. The Malaysian firm produces latex and nitrile manuals for health care professionals, distributors, and consumers. Top Glove is a one-stop-shop that constantly provides high-quality, dependable, and inexpensive gloves. Top Glove products are an important part of healthcare since they protect ...
ncy. Scope of Top Glove Customer Code of ConductThis Code of Conduct sets forth the behaviour expected by our customers and helps them establish good management practices, make et. ical decisions and identify potential misconducts. Top Glove expects its customers and other entities with which it conducts business ("Customers") to ensure and ...
STEVEN ROBERT KWAN...Played three seasons at Oregon State and was 2018 All-Pac-12 and Corvallis Regional All-Tourney First-Team selection during his junior year as the Beavers won their third College World Series title in Omaha...For the year, he batted .355 (91-for-256)...For his collegiate career, batted .328 (158/481) with 96 runs in 156 games...two-time Pac-12 All-Academic Honorable ...
For Top Glove, its vision is to be a world class glove manufacturer providing top products with excellent services through continuous improvement and innovation. They believe that Research and Development (R&D) is major key to mold their path and success. Correspondingly, their mission statement is to deliver excellent customer experience and convenience in the areas of customer's safety and ...