SHAH ALAM: Top Glove Corp Bhd has described the US ban on the import of rubber gloves from one Malaysian company over forced labour allegations as a wake up call for local businesses.
While acknowledging that the ban would tarnish the good image of Malaysian glove makers, Top Glove chairman Tan Sri Dr Lim Wee Chai said the US had sent the right signal to global businesses.
"This is a signal to all factories or businesses. If we want to do business with other countries like the US or (in) Europe, we have to comply with the international rules and improve ourselves.
"And it is a good direction and a wake up call for Malaysian factories or companies, ” he told reporters on the sidelines of the company’s FY19 and Q4 2019 results briefing here, today.
The US recently blocked the import of disposable rubber gloves from a Malaysian company, WRP Asia Pacific Sdn Bhd, suspected to have been manufactured using forced labour.
Asked if the ban would affect Top Glove’s sales to the US, Lim quipped: "So far so good. Of course, from time to time we might face some problems, but they (the US) have sent the right direction and we will move towards it.”
Top Glove’s sales to North America surged 20.3 per cent year-on-year (y-o-y) in the financial year ended Aug 31,2019 (FY19), while that of Western Europe rose 12.7 per cent y-o-y and Japan increased 24.0 per cent y-o-y.
On the 2020 Budget wishlist, Lim expressed hope that the government could provide more reinvestment allowance for factories to grow further.
He also hoped that the government would spend more money on research and development, automation, and industrialisation to enable manufacturers to embrace the Industrial Revolution 4.0.
"We need a smart government to come out with a smart budget, ” he added.
The 2020 Budget will be tabled in Parliament on Oct 11,2019. - Bernama
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