Top Glove Corporation Berhad is the world’s largest manufacturer of gloves. It exports gloves to 195 countries and takes up 26% of the global glove market share. Its product portfolio consists of nitrile, natural rubber, and vinyl gloves. The rubber glove industry has experienced tremendous growth throughout the years. If one had invested in Top Glove since they were first listed in 2001 till the 2020 AGM, their total returns including dividends would have been 7,823%!

However, the past two years have been a bit bumpy for the entire rubber glove industry and Top Glove has not been spared from the oversupply issues in the industry which have reduced the average selling price of rubber gloves.

This industry-wide trouble was apparent in the kind of breakfast provided to shareholders before the AGM. In the previous year, Starbucks coffee was served; but this year, coffee from their canteen was served.