KUALA LUMPUR (March 19): As of March 2021, Top Glove Corp Bhd has an annual production capacity of 96 billion per annum from 47 factories and 784 production lines.

In an investor presentation yesterday, the rubber glove giant said that by year end, it plans to add 51 double former lines throughout the course of its operations, which in turn will add 15 billion pieces per annum in production capacity. As a result, Top Glove will have 111 billion pieces per annum in capacity at end-2021.

The rubber glove giant said that as it currently stands, it has 36 rubber glove factories and that it is targeting for 39 to be producing gloves by year end.

At present, the rubber glove giant has 47 factories in total. These factories include mask factories, concentrate plants, as well as a factory for condoms and a factory for dental dams. 

Top Glove stated that it plans to add 118 double former lines in 2022, resulting in an additional 35 billion pieces in production capacity. Following these new lines, the rubber glove giant will have a capacity of 146 billion pieces per annum.

Additionally, it plans to have 43 glove factories in 2022.

It is worth noting that these expansions are earmarked for its operations across Malaysia, Thailand, Vietnam and China. The expansions are for its nitrile/latex gloves, PVC gloves and surgical gloves. 

By 2024, the rubber glove maker hopes to have 47 glove factories with a capacity of 205 billion pieces per annum.

Top Glove noted that for the first half ended Feb 28, 2021 (1HFY21), 60% of its revenue came from nitrile gloves, followed by latex powder-free (20%) and latex powdered (13%).

Its 1HFY21 net profit, meanwhile, surged 22 times to RM5.23 billion from RM227.11 million a year ago, while cumulative revenue jumped three times to RM10.12 billion from RM2.44 billion.

Shares in Top Glove were 0.76% or four sen higher at RM5.30, valuing it at RM43.48 billion at 10.36am today. It had seen 3.89 million shares done.