World’s Top Glove Maker Eyes Thai Expansion on Malaysia Risk
- Shares drop 30% this year as foreign-exchange gains ease
- Company to double production capacity at Thai factory
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Malaysia’s Top Glove Corp. is focusing on Thailand to boost its production capacity as shortages of workers and water at home disrupts its expansion spree.
The company, which doubled its factory capacity in Thailand’s Phuket this month, will increase its output size by 100 percent at another plant in Songkhla that borders Malaysia, Chairman Lim Wee Chai said in an interview Thursday. Favorable tax breaks in Thailand and the ease of hiring workers prompted the company’s decision, he said. The stock gained 0.4 percent at the Friday close in Kuala Lumpur, the highest level in three months.