Top Glove Corporation Bhd
Top Glove Corporation Bhd (Shah Alam, Selangor, Malaysia; KLSE: TOPGLOV; SGX: BVA; ~RM5B revenue post-pandemic normalization, peaked >RM16B in FY2021) is the world's largest glove manufacturer by volume — approximately 26% global disposable glove market share and ~80 billion gloves per year pre-pandemic. Operates 47 factories across Malaysia (primary), Thailand, and Vietnam producing nitrile, latex, surgical, and vinyl gloves. Revenue surged from RM3.5B (FY2019) to RM16.4B (FY2021) during COVID-19 pandemic demand shock; collapsed to RM5B range by FY2023 as COVID demand normalized and new capacity came online globally. In July 2020 the US Customs and Border Protection (CBP) issued a Withhold Release Order (WRO) against Top Glove citing forced labor indicators in migrant worker dormitories — including debt bondage, excessive work hours, and substandard housing. Top Glove shipments were detained at US ports of entry. Top Glove paid approximately $30M+ in back wages to migrant workers; CBP lifted the WRO in September 2021 after remediation. The WRO and remediation cost contributed to Top Glove's governance reforms and dormitory upgrades for its ~100,000 migrant worker workforce.