Wednesday , January 20 2021

Malaysia extends curbs on Top Glove dormitories

Bloomberg

Malaysia will extend its movement control order on Top Glove Corp’s worker dormitories in Klang by two weeks to December 14 because of rising coronavirus cases there, according to Defense Minister Ismail Sabri Yaakob at a media briefing.
The movement control at at the company’s dormitories started on November 17 and was supposed to end on Monday, but there are still many new positive cases via second screening, he said. The government has tested 5,805 workers and 3,406 are found positive for the virus, he added.
The government last week ordered Top Glove to close 28 of its factories in phases, after its facility in Klang, Selangor state recorded 1,067 Covid-19 cases, out of 1,884 new daily cases in Malaysia. The company has said it expects the outbreak at its
facilities to end in two-to-four weeks.
The curbs have pared the meteoric rise in the shares of the world’s biggest rubber-glove producer. The stock tumbled 17% this month, the steepest drop since January 2016.

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