Malaysia's Top Glove shares tumble after govt says factories to be shut

Malaysian Armed Forces personnel install barbed wire fencing at Top Glove’s male and female staff dormitories in Klang in November 16, 2020. — Picture by Hari Anggara

KUALA LUMPUR, Nov 24 — Shares in Malaysia's Top Glove fell as much as 7.5 per cent in early trade today, after the government said some of its factories would be closed in stages for Covid-19 screening and quarantine after more than 2,000 of its workers tested positive.

The Health Ministry reported a sharp rise in cases in the area where Top Glove factories and dormitories are located, with 2,453 workers testing positive for the virus, out of 5,767 screened.

The government said 28 factory buildings will be shut in phases but did not specify when the shutdowns would begin. — Reuters

Source: Malay Mail