Hartalega's plant closure a negative sign for gloves

KUALA LUMPUR: The shuttering of Hartalega Holdings Bhd's Bestari Jaya plant could be a sign of deteriorating prospects in the local glove sector.

Hartalega announced in a statement yesterday that the decommissioning exercise will lead to an impairment loss of RM347mil in FY23 and further provision for retrenchment costs and expenses of RM70mil in FY24.