Home » Top Glove shares drop as employee hostels put below strict lockdown | Malaysia

Top Glove shares drop as employee hostels put below strict lockdown | Malaysia

by newsking24

Two week containment measures have an effect on greater than 13,000 employees to the west of Kuala Lumpur.

The share value of Top Glove, the world’s largest producer of medical gloves, slumped on Tuesday, after the Malaysian authorities imposed a strict lockdown on greater than 13,000 employees dwelling in company-run dormitories to the west of Kuala Lumpur.

The authorities imposed the two-week lockdown after 215 coronavirus instances emerged in one of many hostels in Meru, about 40km west of the capital and near Top Glove’s factories.

The curbs, throughout which the well being ministry will undertake focused screening, got here into impact on Tuesday and contain 13,190 employees, in addition to almost 1,200 folks dwelling close by. The firm’s inventory dropped almost 10 p.c in early buying and selling on the Kuala Lumpur Stock Exchange.

“[The lockdown] will allow the Health Ministry to continue targeted screenings on workers and residents in the area,” Senior Minister of Security Ismail Sabri Yaakob stated at a media briefing on Monday.

He additionally urged the corporate to display screen all its manufacturing facility employees and its different dormitories.

Staff temperatures are checked on their arrival at a Top Glove hostel for feminine employees [Ahmad Yusni/EPA]

Top Glove, which has about 21,000 workers and operates 41 factories in Malaysia, stated in an announcement that it had cooperated carefully with the district well being workplace and native police throughout a go to on Sunday.

It stated it was looking for clarification in regards to the implementation of the curbs and would proceed to look at procedures put in place to hinder the unfold of the virus.

“Disinfection exercises at our premises and accommodation are also conducted regularly, with all the necessary precautionary measures strictly in place,” the assertion stated.

Last week, Top Glove launched extra rigorous illness management and prevention measures to curb the unfold of COVID-19 and stated it was proscribing its staff to solely essentially the most important actions. It has additionally established “isolation houses” for these below quarantine, it stated.

Top Glove first confirmed 17 staff examined optimistic for the virus virtually two weeks in the past. Malaysia has been battling a resurgence of coronavirus instances that started in September within the Borneo state of Sabah. Much of the nation is now in a state of partial lockdown.

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