Clarify your stand Top Glove! Are you an anti-minimum wage corporate?

DOES ANYONE REMEMBER THIS AND WHAT WAS THE OUTCOME?

Top Glove Accused Of Locking Up Its Employees Against Their Free Will

Published by Mei Mei Chu — 12 Mar 2014, 05:18 PM — Updated almost 4 years ago
Malaysia rubber glove manufacturer Top Glove faces labour abuse charges after an employee claims that he and others were forcibly detained in the manufacturing plant by Top Glove's auxiliary police … for more, go to http://says.com/my/news/top-glove-malaysia-accused-of-labour-abuse


Clarify your stand Top Glove! Are you an anti-minimum wage corporate?

Top Glove executive chairman Lim Wee Chai owes Malaysian workers an apology for citing minimum wage as a reason for a decline in his company’s profits last December, despite making RM73.32 million.

Read this for context: https://bukitlanjan.blogspot.my/2016/12/bukit-lanjan-top-glove-makes-rm7332.html (BUKIT LANJAN: Top Glove makes RM73.32 million in profits but still blames minimum wage for decline)

And at every corporate media announcement, Lim would be telling shareholders and the public how exceptionally well Top Glove is performing.

“Yes. We (Malaysians) have not forgotten what you said about minimum wage. Your silence on the issue is certainly not golden,” Gerakan Deputy Speaker Syed Abdul Razak Alsagoff said.

“Top Glove may be performing extremely well now. But its anti-minimum wage stance stinks of lack of corporate appreciation to the contributions of its workers for the company’s success.

“Unless I missed the news, Top Glove, particularly Lim, must be man enough to own up that they were wrong in demonising the minimum wage policy implemented by the federal government,” he added.


Proud to be an anti-minimum wage corporate?
Syed Razak, who is Gerakan’s nominee to contest N.37 Bukit Lanjan in the coming 14th General Election (GE14), said The Star Online’s report titled “Top Glove Q1 earnings surge on record quarterly revenue” may be glowing for the company but “it stinks, as far as Malaysian workers are concerned”.
“As long as Lim and Top Glove fails to apologise publicly to Malaysian workers for being anti-minimum wage, there’s no honour in its corporate profile,” he added.

This was what was posted by The Star Online:

"Top Glove Q1 earnings surge on record quarterly revenue

CORPORATE NEWS
Tuesday, 19 Dec 2017
1:47 PM MYT
by joseph chin



Top Glove executive chairman Tan Sri Dr Lim Wee Chai said: “We are pleased to have delivered a strong performance once again.

KUALA LUMPUR: Top Glove Corporation Bhd

image: https://cdn.thestar.com.my/Themes/img/chart.png posted a strong set of earnings in the first quarter ended Nov 30, 2017 (1QFY18), underpinned by a record revenue, riding on the strong nitrile glove sales.

The world's largest glove maker announced on Tuesday its earnings rose 43.8% to RM105.44mil from RM73.31mil from a year aog.

Its revenue increased 19.4% to a record RM938.11mil from RM785.58mil a year ago. Earnings per share rose to 8.41 sen from 5.85 sen.

Top Glove said the revenue was 4% higher than the Q4 FY17. Profit before tax increased by 35.9% to RM122mil from a year ago and 23.1% from Q4 FY17.

It said sales volume rose 17% on-year and 8% on-quarter. Nitrile glove sales volume grew the most, compared with a year ago and on-quarter.

“The excellent set of numbers followed strong demand growth stemming from developed and emerging markets, where glove demand is rapidly on the rise. 

“Further contributing to demand was the disruption in vinyl glove supply following China’s strict enforcement against polluting industries which benefited both natural rubber and nitrile glove sales,” it said.

Top Glove said internally, new capacity coming onstream, as well as continuous improvement initiatives in terms of automation, better production lines and cost-saving were also instrumental in contributing to the strong performance.

It said when compared with 4QFY17, the average natural rubber latex price eased 10% to RM5 a kg while the average nitrile latex price was US$1.01 a kg, up marginally by 3%. 

However, raw material prices were on the uptrend compared with 1QFY17, with average natural rubber latex and nitrile latex prices higher by 12.1% and 3% respectively. 

Top Glove executive chairman Tan Sri Dr Lim Wee Chai said: “We are pleased to have delivered a strong performance once again. 

“It is not easy to do well consistently amidst an increasingly challenging business environment and we credit our commendable results to our ongoing improvement initiatives in the manufacturing process”."


N.37 LET BUKIT LANJAN SOAR WITH SYED ABDUL RAZAK ALSAGOFF

Comments

Post a Comment

Popular posts from this blog

21st Century digital world’s growing number of ‘couch potatoes’ in Malaysia

Image
Definition of obesity Obesity means having too much body fat. It is different from being overweight, which means weighing too much. The weight may come from muscle, bone, fat, and/or body water. Both terms mean that a person's weight is greater than what's considered healthy for his or her height. How to know whether you are obese? Examination 1: Physical & weight If you've always been a normal weight without having to try too hard, you may consider yourself lucky. But the mirror and the scale only tell part of the story: You can look great in a bikini or have a body-mass index (BMI) in the normal range, but if you don't take care of yourself, you could be just as unhealthy as an obese person. This phenomenon sometimes is known as skinny-fat, or "normal-weight obesity". Despite weight alone can not certainly tell whether you are obese or not, it is the very first vivid sign of obesity symptoms … for more, go to  http://ladyshopnow.com/insight-on-obesity.
Read more

Malaysian children are going hungry? They are worse off than Ghanaians?

Image
File photo of a hungry child IS MALAYSIA WORSE OFF THAN GHANA? UNICEF; 25% of Ghanaian children go to bed hungry Posted By:  admin on: May 17, 2016In:  News The right to sufficient food is appreciated when every man, children and women inside our societies have approach to sufficient food and clean water. According to the reports, Ghana has an obvious respect of the right to sufficient food in its components, however, its carrying out is usually troubled by some challenges. According to  UNICEF  Ghana , in 2015 an expected one out of every 4 children in some areas of Ghana goes to bed hungry. The report mentioned that, there are over 5 million Ghanaians who can’t have enough money to purchase a plate of food in a day and over 30% of food goes waste sideways of food supply chains in the state …  http://www.ghanalive.tv/2016/05/17/unicef-25-of-ghanaian-children-go-to-bed-hungry/ Malaysian children are going hungry? They are worse off than Ghanaians? Hong Kong’s  South China Mornin
Read more

吴正飞御用大律师 – 另一个大马出生的成功故事 (QC Ng - another Malaysian-born success story to emulate)

Image
专业实习 吴正飞御用大律师（QC）在法律界 被称为“一个强大的律师”; “后起之秀”; “毫无疑问的小明星”和“等待中的御用大律师”以及“一流的宣传技巧”，他们“提出了非常聪明的要点”，和他的能力来“提出切实的法律解决方案”，不仅能赢得战斗，还能赢得一场战争。并且有能力“提供切实可行的法律解决方案，不仅能赢得战争，还能战胜战争“。2018年2月吴正飞受委为最年轻的御用大律师之一，专攻商业纠纷和仲裁案在不同的国家，尤其是伦敦，新加坡和香港。 被推荐排名英国法律500强（六个实习领域），英国钱伯斯（三个实习领域），法律500强亚太地区（三个领域），亚洲钱伯斯（三个领域的实习） ）和钱伯斯全球（三个实习领域）。其中八项建议是Band 1排名。被法律周刊命名为2012年度十大明星之一。请参阅 https://essexcourt.com/barrister/jern-fei-ng/ 吴正飞御用大律师 – 另一个大马出生的成功故事 ( QC Ng - another Malaysian-born success story to emulate) 一位在大马出生的38岁华裔，在执业15年后，受委英国女王御用大律师。  吴正飞在剑桥大学考获法律荣誉学位，他的中小学教育是以马来文为媒介语的学校度过的。 在17岁时才到英国一个说英语的环境开始了他的高等教育时是非常艰难的生活。  “他的努力和成功的决心成为了大马人的榜样，”民政党副议长赛阿都拉萨说。 他说：吴正飞又是另一位有才华的大马专业人士不是在国内获得专业卓越。 他说：联邦政府应该深入研究为何这么多“聪明”的大马专业人士是在海外成功的。 “另一位才华横溢的大马专业人士不是在国内取得专业卓越，这是一个巨大的损失，”他补充说。 双胞问题 - 由于国内经济衰退以及从英国到台湾的国家有更吸引力的工作机会，加剧了大马的人才流失。--- 2016年3月18日 即使是超级富豪也计划离开大马。一项研究显示，26％拥有3000万美元可投资资产的大马人计划在未来10年内迁移。这远高于该地区16％的平均水平。根据2016年财富报告，全球房地产咨询公司莱坊（Knight Frank）称，“超级富豪受到全球石油价格下跌和令吉贬值带来的严峻经济形势的困扰” 。。。。请参阅 https://www.aseantoday.com/201
Read more