Top Glove shares tumble as worker shelters are under strict lockdown Malaysia



[ad_1]

The two-week containment measures affect more than 13,000 workers west of Kuala Lumpur.

The share price of Top Glove, the world’s largest producer of medical gloves, plunged on Tuesday after the Malaysian government imposed a strict lockdown on thousands of workers living in company-run dormitories west of Kuala Lumpur. .

Authorities imposed the two-week lockdown after 215 cases of coronavirus emerged in one of Meru’s shelters, about 40 km west of the capital and near Top Glove factories.

The restrictions, during which the Health Ministry will carry out screening tests, took effect on Tuesday and also involve nearly 1,200 people living nearby. The company said in a statement Tuesday that 5,700 workers, about a fifth of its workforce, were affected. The company’s shares fell nearly 10 percent in early trading on the Kuala Lumpur Stock Exchange.

“[The lockdown] It will allow the Health Ministry to continue with specific assessments of workers and residents of the area, ”Chief Security Minister Ismail Sabri Yaakob said at a press conference on Monday.

He also urged the company to examine all workers in the factory and its other dormitories.

Staff temperatures are monitored upon arrival at a Top Glove worker shelter [Ahmad Yusni/EPA]

Top Glove, which has around 21,000 employees and operates 41 factories in Malaysia, said it had cooperated closely with the district health office and local police during a visit on Sunday and that “most of the affected workers are asymptomatic and not they have symptoms such as fever or some illness ”.

He said he was seeking clarification on the implementation of the restrictions and would continue to observe the procedures in place to prevent the spread of the virus.

“Disinfection exercises in our facilities and accommodation are also carried out regularly, with all necessary precautionary measures strictly in place,” the statement said.

Last week, Top Glove introduced more rigorous disease prevention and control measures to slow the spread of COVID-19 and said it was restricting its employees to the most essential movements. It has also set up “isolation houses” for those in quarantine, he said.

Meru’s factories remain in operation with “reduced capacity” and workers who are not under the lockdown remain on the job according to Health Ministry guidelines, he said.

Top Glove first confirmed that 17 employees tested positive for the virus nearly two weeks ago. Malaysia has been battling a resurgence of coronavirus cases that began in September in the Borneo state of Sabah. Much of the country is now in a state of partial lockdown.



[ad_2]