At a time when global businesses are crashing down due to the corona, interestingly, some have entered the billionaire club. It is a few Malaysian entrepreneurs who reaped profit during these three months. Malaysia supplies 65% of the world’s rubber gloves. Four major rubber glove trading companies in Malaysia have generated more than $100 Cr during the corona period. Top Glove Corp., the world’s largest manufacturer of rubber gloves, Hartalega Holdings and Kossan Rubber Industries are witnessing unprecedented growth in sales and share value. Supermax, a glove maker, has seen a five-fold growth in this three-month period. Founded in 1987 by Thai Kim Sim, Supermax started off with the trading of latex gloves. In 1989, the company moved to glove manufacturing.
The first glove manufacturing unit in Malaysia, Supermax, which exports latex gloves to 160 countries today, controls 12% of the world’s market. Their products target mainly medical surgery needs. With the spread of the corona, gloves have become a necessity for ordinary people and health workers.
It is estimated that over 33,000 crore latex gloves will be needed worldwide in the next seven months. Malaysia that controls two-thirds of the world’s latex gloves is going to benefit from the situation. Moreover, thanks to the soaring prices of rubber. Local rubber growers are getting fair prices. Kerala that has rubber growers in plenty can emulate the success of Malaysia. Entrepreneurship is always an art of catching the right opportunity.
