M&A the next step in Top Glove's list of ambitions, says chairman

SINGAPORE (Oct 17): Top Glove Corporation is seeking to engage in merger and acquisition (M&A) opportunities within the next few months, said the company’s executive chairman Lim Wee Chai to analysts and reporters at a briefing held today.  

According to a Dow Jones report, Lim says the Malaysian rubber glove maker is seeking to target 10% growth in terms of both sales and profit – and that the company expects to seal at least one M&A deal in a month’s time.

This comes after Top Glove last Friday announced earnings of RM98.6 million ($31.7 million) for 4Q17, up 50.8% from its RM65.5 million in earnings for the same period a year ago on higher sales volumes, mainly attributable to expanded capacity, higher average selling prices (ASPs) and lower tax rates.

---

Related Stories

• Sats proposes to acquire general cargo handling operations at Amsterdam airport
• Will glovemakers enjoy a Mpox-induced demand spike?
• CLOs have too much money and are running out of things to buy

---