Hartalega posts net profit of RM27.7mil in 2Q

KUALA LUMPUR: The oversupply in the glove market has been alleviated to a certain degree amid capacity rationalisation across key domestic manufacturers and the exit of some smaller players, said Hartalega Holdings Bhd CEO Kuan Mun Leong.

Nevertheless, Kuan expects headwinds in the glove sector to persist in the second half of the financial year as the industry remains impacted by the ongoing global oversupply and intense competition, which has put downward pressure on average selling prices (ASP).