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KUALA LUMPUR: The surge in Top Glove’s American Depository Receipt (ADR), which trades on the Nasdaq Stock Exchange, is an “anomaly or outlier” which could boost investor sentiment towards the shares.
KUALA LUMPUR (Reuters) - Top Glove Corp Bhd , the subject of a US import ban over concerns about forced labour, is waiting for customs authorities there to verify remedial action it has taken on workers' recruitment fees, it said on Wednesday.
Top Glove Corporation Bhd’s net profit for the third quarter ended May 31 surged to RM2.03bil from a year ago but the quarter-on-quarter performance was softer as selling prices peaked in February.
HONG KONG: Top Glove Corp’s plan to list in Hong Kong and raise up to US$1bil (RM4.13bil) has been delayed as the world’s largest rubber glove maker seeks to resolve a US import ban on its products, sources with direct knowledge of the matter said.
Proper planning needed for impact to be minimal
Beijing on Monday called US allegations that a Chinese fishing company is involved in forced labour practices a "lie" and promised to defend the interests of Chinese companies.
US Customs and Border Protection on Friday imposed a new import ban on seafood from a Chinese fishing fleet that the agency says is using forced labour on its 32 vessels, including abuses against many Indonesian workers.
Sime Darby Plantation Bhd posted a strong set of financial results in the first quarter ended March 31,2021 due to favourable crude palm oil (CPO) prices increased production and improved downstream performance.