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Top Glove to Buy Land For Rubber Plantations to Meet Latex Needs

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Oct. 11 (Bloomberg) -- Top Glove Corp. plans to buy land in Cambodia, Malaysia and Indonesia to develop rubber plantations to meet its own latex needs, it said in a statement today.

The company also expects demand for gloves to remain “robust” in the longer term, it said. Its profit drop in the fiscal fourth quarter was due to the higher latex cost and the weaker dollar against the ringgit, it said.

Link to Statement:{NSN LSVX7K3TT9TS <GO>}

Link to Company News:{TOPG MK <Equity> CN <GO>}

To contact the editor responsible for this story: Chan Tien Hin at thchan@bloomberg.net

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