TOP Glove Corp Bhd’s shares fell 55 sen or 7.48% to RM6.80 today, on news of the temporary closure of its factories in Klang following the spike in Covid-19 infections among its workers.

At 10.51am, the stock recouped some loses to trade at RM6.87, with 43.91 million shares changing hands.

The counter also came in third among the top losers on Bursa Malaysia at early trade, before being overtaken by Carlsberg Brewery Malaysia Bhd.

The world’s largest glovemaker said in a bourse filing yesterday that it had stopped production in 16 facilities in Meru, Klang, since November 18.

The remaining 12 facilities, also in Meru, are operating at a lower capacity.

“With reference to the announcement by the senior minister, Top Glove will work closely and cooperate fully with the relevant authorities to implement the temporary stoppage by stages of our manufacturing facilities in Meru, Klang,” it told the stock exchange.

Senior minister Ismail Sabri Yaakob said yesterday that 28 of Top Glove’s factories in the Kapar industrial zone in Klang will be closed in stages after recording high numbers of Covid-19 infections. Particularly affected are the workers’ hostels, which have been placed under enhanced movement-control orders (EMCO).

Top Glove said it had screened about 5,700 workers at its hostels to date.

“We are committed to proceed with the Health Ministry’s recommended Covid-19 screening test on the remaining workers and staff of our factories in Meru, Klang,” it added.

The company said disinfection exercises are being conducted at its premises and dorms and all precautionary measures are strictly in place.

The glovemaker’s facilities are linked to the Teratai cluster, which accounts for 1,067 out of the country’s total of 1,884 infections yesterday.

Director-general of health Dr Noor Hisham said the factory closures will enable the authorities to screen the company’s entire workforce of 13,000 spread across the 28 premises.

He said a total of 2,524 cases have been detected out of the 5,767 people screened so far, the majority involving foreign workers. – November 24, 2020.