Covid-19 vaccination drive puts spoke in Top Glove’s wheel

Covid-19 vaccination drive puts spoke in Top Glove’s wheel

2021-09-20 09:24:00 AM

Covid-19 vaccination drive puts spoke in Top Glove’s wheel

MD expects more headwinds as demand is expected to normalise in the first or second quarter of next year

Yvonne Man and Ravil ShirodkarPicture: REUTERSTop Glove, the world’s largest rubber glove producer, said it expects the business environment to remain challenging over the next few quarters as demand for protective gear moderates amid a pick-up in Covid-19 vaccine rollouts globally.

Malema casts doubts on election outcome: ‘They will use load shedding to steal votes’ | Citypress OPINIONISTA: Grilled: Nando’s taking wings out of Gareth Cliff’s flame roast succumbs to the will of the mob and serves no one Oscar Mabuyane and Madikizela get interim relief | Citypress

“Last year was exceptional and we had a good run,” MD Lee Kim Meow said on Monday. “By the first or second quarter of next year, demand will normalise. More headwinds are likely to come our way.”The Malaysian company on Friday reported a 48% on-year decline in its fourth-quarter profit as the speedy rollout of Covid-19 vaccines globally slowed demand for its products and the import ban by the US reduced sales. Competition from players in China, Thailand and Vietnam added to the weakness in prices.

Lee said the company is well-placed to deal with the softening in prices, and the removal of the import ban earlier this month is expected to boost sales to the US, which accounts for 15% of the group sales. Shipments to the US were banned since July last year pending an inquiry into Top Glove’s labour practices.

“The US is a very important market for us. The import ban has been lifted and the CBP [US Customs and Border Protection] has tested, audited and verified that our operations are free of forced labour. So US consumers are very comfortable to buy from us again. They know that we have fixed the problems relating to migrant workers.” 

Exports to the US could begin as early as end-September, Lee said. Read more: Business Day »

Police minister travels to KZN Midlands in hopes to calm tensions ahead of local government elections

National Police Minister, Bheki Cele, is expected to visit the KwaZulu-Natal town of Plessislaer following the murder of a ward councillor candidate last week.

COVID-19 LIVE UPDATES | New Zealand sees small increase in daily Covid-19 cases over weekendCoronavirus live updates I'm happy to join those who are sharing the good news about lovely16350 . I'm not persuading anyone to trade with her but i advise every investor to make the right choice with lovely16350 i got my withdrawal safely without any interruption.

Cape candle firm boss in court for Covid-19 relief fund fraudThe Hawks have swooped on a Western Cape candle maker for alleged Covid-19 relief fund fraud.

'The Beast' Mtawarira urges schools to remain open during Covid-19 pandemicMtawarira said schools can stay open safely with the knowledge that children are less likely to fall ill with Covid-19 nor spread the disease.

Covid-19 doctors ready to take the plunge in snorkel masks when next wave hitsWhen the next Covid-19 wave crashes down on healthworkers, snorkelling equipment could save them. WTF!? Vaccines don’t work so dress like a clown? Another what.. we are done with covid waves How do you know?

Covid-19 update: SA records 3,286 new cases and 164 deathsThe current surge in Covid-19 infections seems to be showing signs of a sustained downward trend, the NICD said.

SA records 3,600 new Covid-19 cases, 173 deaths in 24 hoursFor the second straight day, none of SA's provinces recorded more than 1,000 new Covid-19 cases in 24 hours. Mrs lethica001 i really appreciate your all your efforts with the little startup of R4000 with all joy over me after withdrawing R17,850 you can check my media for testimony i told you i will recommend everyone in South Africa to trade with your team you're the best thank you