US not to import goods made by Top Glove Corp of Malaysia
KUALA LUMPUR (MALAYSIA) – In a bid to prevent the import of goods made by firms accused of using forced labour, the US Customs and Border Protection (CBP) has clamped down on subsidiaries of Top Glove Corp Bhd, which is the world’s largest medical glove manufacturer.
This step comes at a time when demand for gloves and protective gear has spiked given the spurt in the number of coronavirus cases across the US.
The firm’s website revealed that Top Glove Sdn Bhd and TG Medical Sdn Bhd were on the US list on Wednesday.
Top Glove has factories in China and Thailand.
The firm’s share price went down by 2.57% on Thursday afternoon. But it climbed over 350% this year.
In 2019, CBP took punitive measures against Malaysian glove maker WRP Asia Pacific Sdn Bhd. The detention was lifted in March.
The demand for protective gloves is expected to spike by 11% to 330 billion pieces this year. Malaysia is slated to supply two-thirds of the product, said the rubber glove manufacturers association in the country.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field