Not all gloom and doom for Top Glove

Legal action: Top Glove is now taking legal action against the vendors of Aspion and has claimed a sum of no less than RM714.86mil in overstatement of assets and valuations.

On July 5, the share price of the world’s largest glove manufacturer, Top Glove Corp Bhd, hit a record high and its market capitalisation rose to RM15.72bil.

Barely four days later, the stock tumbled 30% and hit limit-down, erasing nearly RM3.8bil off its market value in a single day.