Top Glove - Maybank Research 2023-06-07: Unlikely To Turn Profitable In The Near Term

Top Glove - Unlikely To Turn Profitable In The Near Term

Top Glove (SGX:BVA) | SGinvestors.ioTop Glove (SGX:BVA)
  • While Top Glove (SGX:BVA) has successfully raised its average selling price to ~US$21/k pcs, its upcoming 3QFY23 earnings are expected to remain in the red due to low plant utilisation of <40%.
  • Top Glove's effective capacity has decreased by 40% on decommissioning of two factories and placing another 16 plants on idle. Given the persistent oversupplied situation, losses may persist in the near term.
  • - Read this at -

Decommissioning and shutting down plants

  • Top Glove has, thus far, decommissioned two old factories with 5b pcs p.a. capacity, and temporarily shut down another 16 plants with 35b pcs p.a. This has led to a significant decrease in effective capacity, reducing it by 40% to 60b pcs, from 100b pcs.
  • - Read this at -
  • As for the 16 idle glove plants, operations can resume within 1-2 months once demand picks up.

Top Glove's plant utilisation rate remains low

  •

Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @

Wong Wei Sum CFA Maybank Research | 2023-06-07

Read also Maybank's most recent report:
2023-06-19 Top Glove - Narrowing Losses; Maintain SELL.

Price targets by other brokers at Top Glove Target Prices.

Listing of research reports at Top Glove Analyst Reports.

Relevant links:
Top Glove Share Price History,
Top Glove Announcements,
Top Glove Dividends & Corporate Actions,
Top Glove News Articles


You May Also Like

SGX Stock / REIT Search


Most Read

Trust Bank God Of Fortune Referral Code PGKPSWAE Trust Bank Referral Code 🎁