top glove corporation bhd investor presentation

/36Bursa Malaysia : 7113 SGX : BVA Reuters : TPGC.KL Bloomberg : TOPG MK ADR United States : TGLVY

TOP GLOVE CORPORATION BHD

Investor Presentation13th September 2021

The World’s Largest Manufacturer of Nitrile Gloves, Natural Rubber Gloves and Surgical Gloves

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TOP GLOVE BUSINESS ETHICS CLAPS

Thumbs up, Ready, 1 2 3

Claps, 2x 3x 2x Initiated By: Tan Sri Dr. Lim Wee Chai @ 17/07/2017Revised By: Ng Kai Yee @ 21/09/2020Verified By: Melissa Cheoh @ 21/09/2020

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TOP GLOVE 5 HEALTHY WELLS CLAPS

Thumbs Up, Ready, 1 2 3

Claps, 2x 3x 2x

HEALTHY! HEALTHY! HEALTHY!

EAT WELL

WORK WELL

EXERCISE WELL

Initiated By: Tan Sri Dr Lim Wee Chai @ 18/05/2021 Prepared By: Andy Ting @ 18/05/2021Verified By: Melissa Cheoh @ 18/05/2021

CLEAN WELL

SLEEP WELL

TOP GLOVE

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100 billion gloves pa 48 factories

812 production lines(As at September 2021)

Over 1,600 customersacross 195 countries

Current market capitalisation(1) of

RM 26.26 bil,

USD 6.34 bil

The World largest manufacturer of

Nitrile, Natural Rubber and Surgical gloves

Over 22,000 employees

Source: Bloomberg

Note: (1) Market capitalisation as at 13 September 2021

9MFY2021

Revenue RM14.3bil, USD3.5bil

PAT RM7.4bil, USD1.8bil

The World’s Largest Manufacturer of Gloves

Top Glove Corporation Bhd. (“Top Glove”) at a glance

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1994 2002

2004 2011

2007 2013 2017

2016 20202001 2018

2019

From Humble Origins to Global Leader

2021

1991

▪ Started as a local business enterprise

▪ First overseas foray and established a marketing arm in the USA

▪ Commenced operations in Thailand

▪ Listed on the Second Board of Kuala Lumpur Stock Exchange (“KLSE”)

▪ Commenced operations in China

▪ Transferred to the Main Board of KLSE

▪ The World Largest Manufacturer of Natural Rubber Gloves

▪ Revenue over RM1 bil

▪ Acquisition of a majority stake in Medi-Flex

▪ Acquired a marketing arm inGermany to extend sales in Europe

Establishedfirst dedicated Group R&D Centre to drive innovation

▪ Secondary listing on Singapore Stock Exchange (“SGX”)

▪ Revenue over RM3 bil

▪ Commenced condom business in July 2018

▪ Revenue over RM4 bil▪ Implementation of

Artificial Intelligence (AI) Empowered Vision Inspection System

▪ Acquisition of Aspion, Eastern Press, Duramedical

▪ The World Largest Manufacturer of Surgical Gloves

▪ Launched BioGreenBiodegradable Gloves

▪ Implemented Manufacturing Execution System (MES) and Advanced Auto Packing Machine

▪ The World Largest Manufacturer of Nitrile Gloves

▪ Commenced operations in Vietnam

▪ 9MFY21 PAT of RM7.4 bilexceeded past 20 years PAT

▪ Highest dividend declared in 9MFY21 of RM4.8 bil

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Distribution Across 195 Countries: % of 9MFY21 Sales Volume by geographic

North America

Latin America

18%

9%

EasternEurope 18%

Japan 8%

WesternEurope 21%

Asiaex Japan 20%

Middle East

5%

Distribution

▪ 7 distribution hubs globally

▪ Over 1,600 customers

▪ An OEM manufacturer in every region

▪ Top 5 customers represent c.16% of total revenue

▪ No single customer contributes more than 5% of revenue

▪ Comprising distributors across 195 countries

▪ A geographically diverse customer base

Africa 1%

USA

Brazil

Germany

China

Vietnam

Thailand

Malaysia

Top Glove’s Distribution Hubs

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500

743

247

637

663

1,307

4,346

North America

Europe

Middle East

Latin America and the Caribbean

Southeast Asia

Africa

Asia and Pacific

Healthcare Spending Will Continue to Increase in Emerging Market

300

208180

133

9 7 6

UnitedStates

Germany UnitedKingdom

Japan China India Indonesia

[1]

Glove per Capita Consumption in 2020, Pieces

High glove usage indeveloped countries

Low glove usage indeveloping countries

Population by Region in 2020, ‘mil People

High Population in developing countries

Population in developed countries

Strong growth opportunity in developing countries on the back of large population but current low glove usage

Source: Frost and Sullivan, March 2021[1] Germany and United Kingdom refer to 2019 data Source: Frost and Sullivan, March 2021

[1]

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Natural rubber powder-free glove

55%

27%22%

22%

26%

19% 20%

23%

11%

43%47%

43%

7%9% 8%

10%

1% 2% 3%2%

0%

10%

20%

30%

40%

50%

60%

FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 9MFY21

Nitrile glove

Natural rubber powdered glove

Surgical glove

Vinyl/TPE/CPE

A Diverse Glove Range for Diverse Market Preferences

% of Product Mix By Volume from FY2011 to 9MFY21Global Market Position

Since 2018

Since 2004

Since 2020

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To commence production by

Calendar QuarterCountry Glove Type

Number of production linesCapacity,

pcs per annum1 Double Former (DF) Line

= 2 Equivalent Single Former (SF) LinesCurrent: 37 glove factories All 812 Equivalent Single Former Lines 100 bil

1Q CY2022 Jan22 to Mar22

Malaysia Nitrile / Latex 16 DF lines 4.8 bil

2Q CY2022 Apr22 to Jun22

MalaysiaNitrile 4 DF lines 1.2 bil

Surgical 2 DF lines 0.6 bilChina PVC 2 DF lines 0.6 bil

3Q CY2022 Jul22 to Sep22


4Q CY2022 Oct22 to Dec22

Malaysia Nitrile / Latex 24 DF lines 7.2 bilVietnam PVC 10 DF lines 2.6 bil

Additional new capacity in CY2022 62 DF lines 18 bil (+18%)Total capacity 31 December 2022 : 40 glove factories 936 Equivalent Single Former Lines 118 bil




MalaysiaNitrile / Latex

12 DF lines 3.7 bilThailand 14 DF lines 4.2 bil


Vietnam PVC 10 DF lines 2.6 bil



Additional new capacity in CY2023 103 DF lines 31 bil (+26%)Total capacity 31 December 2023 : 43 glove factories 1,142 Equivalent Single Former Lines 149 bil

Malaysia

▪ Headquarters▪ 32 Glove Factories▪ 3 Chemical Factories▪ 1 Glove Former▪ 2 Packaging Factories▪ 1 Dental Dam Factory▪ 1 Condom Factory▪ 1 Mask FactoryProducing:1) Latex & Nitrile Examination Gloves2) Surgical, Household, Cleanroom Gloves3) CPE/TPE Gloves4) Former & Chemical Manufacturing5) Dental Dam6) Condom7) Face MaskThailand

▪ 2 Latex Concentrate Plants▪ 3 Glove FactoriesProducing:1) Latex Examination Gloves2) Latex ConcentrateChina

▪ 1 Glove FactoryProducing:1) Vinyl GlovesVietnam

▪ 1 Glove FactoryProducing:1) Vinyl Gloves

Continuous Growth in Manufacturing Capabilities

Total: 48 Factories

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To commence production by Calendar Quarter

Country Glove TypeNumber of production lines

Capacity, pcs per annum

1 Double Former (DF) Line = 2 Equivalent Single Former (SF) Lines


MalaysiaNitrile / Latex 23 DF lines 6.8 bil

Surgical 4 DF lines 1.2 bil2Q CY2024

Apr24 to Jun24Malaysia Nitrile / Latex 36 DF lines 10.8 bil



4Q CY2024Oct24 to Dec24


Additional new capacity in CY2024 85 DF lines 25 bil (+17%)Total capacity 31 December 2024: 44 glove factories 1,312 Equivalent Single Former Lines 174 bil


MalaysiaNitrile / Latex

14 DF lines 4.4 bilThailand 30 DF lines 9.2 bil







Additional new capacity in CY2025 97 DF lines 30 bil (+17%)Total capacity 31 December 2025: 47 glove factories 1,506 Equivalent Single Former Lines 204 bil

Continuous Growth in Manufacturing Capabilities (Con’t)

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0.91

1.19

1.66

1.241.13

2.422.04

1.22

1.48

73.45

45.85

61.16

73.68

69.29

0

10

20

30

40

50

60

70

80

0.2

0.6

1.0

1.4

1.8

2.2

2.6

3.0

3.4

Sep-18 Sep-19 Sep-20 Sep-21

NR Latex & Nitrile & Butadiene Price

(USD/KG)Latex Nitrile Butadiene Crude Oil

Crude Oil Price (WTI)

(USD/bbl)

Raw Material

53%

Other Overhead

14%

Fuel10%

Labour9%

Chemical8%

Packaging6%

Cost

Breakdown

Key Highlights:

a) Expecting a lower nitrile latex price as Butadiene and Acrylonitrile forecasted to decline

b) Lower natural rubber latex concentrate price expected with wintering season ended in May 2021

c) Natural gas tariff increase by 12% for the period of 1 July 2021 to 30 September 2021

d) Electricity tariff reduced by 6% for the period of 1 January 2021 to 30 June 2021

Cost of Production and Raw Material Price Trend

9MFY21 Cost Breakdown Raw Material Price Trend

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28.3%70.5% 64.1%

Financial Highlights for 3QFY21 and 9MFY21

Revenue, RM’mil EBITDA, RM’mil & Margins % PAT, RM’mil & margin %

1,688

5,365 4,163

3QFY20 2QFY21 3QFY21

477

3,785 2,668


350

2,902 2,064


20.7%54.1% 49.6%YoY: +147%

QoQ: -22%

YoY: +459%

QoQ: -30%

YoY: +490%

QoQ: -29%

4,127

14,287

9MFY20 9MFY21

878

9,602

9MFY20 9MFY21

578

7,353

9MFY20 9MFY21

14.0%51.5%

Revenue, RM’mil EBITDA, RM’mil PAT, RM’mil & margin %

+246%

+994%+1,172%

21.3%67.2%


9MFY21 9MFY21 9MFY21

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Performance Highlights

1) Key Highlights for 3QFY21:

Weaker QoQ performance in 3QFY21 mainly due to:

a) lower sales quantity following a temporary halt in shipments to the U.S. from Malaysia, in

compliance with requirements of the U.S. Customs and Border Protection

b) decline in the average selling prices by 16% due to:

i. price adjustment in line with market pricing trend

ii. lower sales to the U.S. from Malaysia, as U.S. pricing is higher than non U.S. market

2) Key Highlights for 9MFY21:

Strong business performance in 9MFY21 mainly attributed to:

a) sales quantity increased by 12% on the back of the global COVID-19 pandemic and a higher

production utilisation

b) higher ASPs inline with strong market demand

c) improvement in operational efficiency from ongoing innovation

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Stellar 3QFY21 quarterly results for the period 1/3 to 31/5/21

3QFY21

1/3 to 31/5

2QFY21

1/12/20 to 28/2/21

Variance3QFY21 vs 2QFY21

3QFY20

1/3 to 31/5

Variance3QFY21 vs 3QFY20

Revenue, RM’mil 4,163 5,365(22%)

1,688147%

Revenue, USD’mil 1,010 1,326 390EBITDA, RM’mil 2,668 3,785

(30%)477

459%EBITDA, USD’mil 647 935 110

EBITDA margin 64% 71% 28%

PBT, RM’mil 2,604 3,725(30%)

422517%

PBT, USD’mil 632 920 98

PBT margin 63% 69% 25%

PAT, RM’mil 2,064 2,902(29%)

350490%

PAT, USD’mil 501 717 81

PAT margin 50% 54% 21%

EPS, sen 25.4 35.8 4.4

3QFY21 Highlights:1) Sales quantity softened by 4% QoQ. 2) Improvement in operational efficiency from ongoing innovation. 3) NR latex concentrate price up 8% QoQ and up 45% YoY.4) NBR latex price up by 0.4% QoQ and up 138% YoY.

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9MFY21 results for the period 1/9/20 to 31/5/21

9MFY21

1/9/20 to 31/5/21

9MFY20

1/9/19 to 31/5/20

Variance9MFY21 vs 9MFY20

Revenue, RM’mil 14,287 4,127246%

Revenue, USD’mil 3,482 980

EBITDA, RM’mil 9,602 878994%

EBITDA, USD’mil 2,341 208

EBITDA margin 67% 21%

PBT, RM’mil 9,413 6781,288%

PBT, USD’mil 2,294 161

PBT margin 66% 16%

PAT, RM’mil 7,353 5781,172%

PAT, USD’mil 1,792 137

PAT margin 51% 14%

EPS, sen 90.2 7.4

9MFY21 performance highlights:a) Strong growth in sales quantity of 12% vs 9MFY20.b) Attributed to ongoing enhancements across its operations, through digital transformation, continuous R&D and innovation, quality and

productivity initiatives and talent acquisition and development. Raw Material Price:a) NR latex concentrate price increased by 31% vs 9MFY20. b) NBR latex price increased by 104% vs 9MFY20.

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in RM’mil 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 9MFY21

Revenue 1,529.1 2,079.4 2,053.9 2,314.5 2,313.2 2,275.4 2,510.5 2,888.5 3,409.2 4,220.7 4,801.1 7,237.4 14,286.6

EBITDA 287.5 364.7 196.7 297.7 310.6 301.8 441.7 524.7 489.3 694.0 687.5 2,421.5 9,601.7

EBITDA margin 18.8% 17.5% 9.6% 12.9% 13.4% 13.3% 17.6% 18.2% 14.4% 16.4% 14.3% 33.5% 67.2%

PBT 222.0 305.0 145.5 240.7 242.2 216.3 363.5 442.2 393.4 522.8 423.6 2,165.6 9,413.2

PBT margin 14.5% 14.7% 7.1% 10.4% 10.5% 9.5% 14.5% 15.3% 11.5% 12.4% 8.8% 29.9% 65.9%

Taxation 53.9 54.6 30.3 33.4 39.4 32.7 82.3 79.8 54.5 89.6 56.1 376.7 2,059.8

PAT 168.1 250.4 115.1 207.3 202.8 183.6 281.2 362.4 338.9 433.2 367.5 1,788.8 7,353.4

PAT margin 11.0% 12.0% 5.6% 9.0% 8.8% 8.1% 11.2% 12.5% 9.9% 10.3% 7.7% 24.7% 51.5%

ROE, % 20.5% 22.4 % 10.0% 16.2% 14.9% 13.1% 17.4% 19.9% 16.3% 18.1% 14.4% 28.9% 103.9%

in RM’mil in RM’mil

High Growth Company Since Listing in 2001Double in Size Every 3 Years with Revenue CAGR of 28%

31 August Financial Year End

Over 20 Years Since Listing in 2001

Compound Annual Growth Rate, CAGRAverage PAT Margin

Revenue PAT

28% 38% 24%

Note: # Based on latest 12 months PAT

#

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in USD’mil 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 9MFY21

Revenue 362.4 492.8 486.8 548.5 548.2 539.2 595.0 684.5 807.9 1,000.3 1,137.8 1,715.2 3,482.4

EBITDA 68.1 86.4 46.6 70.6 73.6 71.5 104.7 124.3 116.0 164.5 162.9 573.9 2,340.5

EBITDA margin 18.8% 17.5% 9.6% 12.9% 13.4% 13.3% 17.6% 18.2% 14.4% 16.4% 14.3% 33.5% 67.2%

PBT 52.6 72.3 34.5 57.0 57.4 51.3 86.1 104.8 93.2 123.9 100.4 513.2 2,294.5

PBT margin 14.5% 14.7% 7.1% 10.4% 10.5% 9.5% 14.5% 15.3% 11.5% 12.4% 8.8% 29.9% 65.9%

Taxation 12.8 12.9 7.2 7.9 9.3 7.7 19.5 18.9 12.9 21.2 13.3 89.3 502.1

PAT 39.8 59.3 27.3 49.1 48.1 43.5 66.6 85.9 80.3 102.7 87.1 423.9 1,792.4

PAT margin 11.0% 12.0% 5.6% 9.0% 8.8% 8.1% 11.2% 12.5% 9.9% 10.3% 7.7% 24.7% 51.5%

ROE, % 20.5% 22.4 % 10.0% 16.2% 14.9% 13.1% 17.4% 19.9% 16.3% 18.1% 14.4% 28.9% 103.9%

in USD’mil

High Growth Company Since Listing in 2001Double in Size Every 3 Years with Revenue CAGR of 28%

31 August Financial Year End

Over 20 Years Since Listing in 2001

Compound Annual Growth Rate, CAGRAverage PAT Margin

Revenue PAT

28% 38% 24% in USD’mil

#

Note: # Based on latest 12 months PAT

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Strong Balance Sheet and High Cash Generation

Return on Equity, % Net Asset, RM’bil Net Asset Per Share Attributable to Owners , RM

Net Cash Flow from Operating Activities, RM’mil

Net Cash, RM’mil

28.9%

83.6%*103.9%

31/8/2020 28/2/2021 31/5/2021

6.2

8.2 8.2

31/8/2020 28/2/2021 31/5/2021

0.60

0.86 0.86

31/8/2020 28/2/2021 31/5/2021

3,456

5,776

8,316

31/8/2020 28/2/2021 31/5/2021

2,343

4,063 4,230

31/8/2020 28/2/2021 31/5/2021

Net cash will be used for:

▪ CAPEX of estimated RM2 bil per annum

▪ Dividend payout of approximately RM2 bilper quarter

*Based on latest

12 months PAT

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16.5 5.3

1Q21 2Q21 3Q21

7.2

25.2

18.0

18.0

12.7

1.0 1.4 0.9 1.4 1.4 1.41.9 2.4 2.4 2.8 2.5

11.8

20.0

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 9M21

+406%

12.5

59.7

47.2

Note: Dividend per share has been adjusted for the bonus issues

A High Dividend and High Growth Company

Reward Shareholders with High Dividend in an Exceptionally Good Year

▪ 50% dividend policy

▪ The Board is committed to a Special Dividend of 20% for 2QFY21 to 4QFY21

▪ Committed to 70% dividend payout ratio for 4QFY21

FY2021

Quarterly Dividend

Total Dividend* 66 99 68 99 99 99 143 182 182 217 192 962 4,782

Payout Ratio 39% 40% 60% 49% 51% 55% 51% 50% 54% 51% 53% 55% 66%

*RM mil

1,324 2,017 1,441

56% 70% 71%

Ordinary Dividend, sen

Special Dividend, sen

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U.S. Customs and Border Protection (CBP) Uplifted

Import Ban on Top Glove Effective 10 September 2021

Top Glove Malaysia Can Resume Export to USA Immediately from 10 September 2021

CBP Modified Finding

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Number of shares held(1) Market value

(as at 13 September 2021)

Accumulated

Dividends

Investment cost

(as at 27 March 2001)

Capital

appreciation(2)

Total shareholder

return

# RM RM RM RM %

122,304 401,157 113,268 2,700 511,725 18,953%

With initial investment of 1,000 shares made based on IPO price of RM2.70 on 27 March 2001, the return would be:

Bursa: Shareholder Value Track RecordsTotal Shareholders Return of 18,953% Over 20 Years Since Listing in Year 2001

As at 13/9/2021:

16th highest market capitalization in Bursa

19th highest market capitalization in SGX

Source: Registrar of Depository

Number of CDS and CDP

account

Number of account

as at

Total CDS Account, Bursa 127,042 (30 Aug 21)

Total CDP Account, SGX 9,267 (1 Sep 21)

Grand Total 136,309

Source: Reuters as at 13 September 2021

Notes: (1) 1,000 shares at IPO, adjusted for bonus issue and share split since IPO

(2) Calculated based on adding market value and accumulated dividends and subtracting the investmentcost

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SGX: Share price appreciation Total Shareholders Return of 402% over 5 years Since Listing in 28 Jun 2016

Source: Reuters as of 13 September 2021

Notes:

(1) adjusted for bonus issue and share split since IPO

As at 13/9/2021:

16th highest market capitalization in Bursa

19th highest market capitalization in SGX

Source: Registrar of Depository

Number of CDP account

as at 1 September 2021

9,267

90

140

190

240

290

340

390

440

490

Bo

nd

Pri

ce

Date

Top Glove Convertible Bond Price PerformanceIssued on 1st March 2019 and Fully Redeemed on 16th October 2020

Convertible Bond Price as at 16th Oct 2020:USD 452.12

Convertible Bond Price as at 1st March 2019:USD 100.00

Top Glove Convertible Bond price appreciated by 352.12% or 3.52 times

Prepared by: Khoo Bee HuiVerified by: Yap Rueh YinnDate: 10 March 2021Source: Thomson Reuters Eikon

Issuer: Top Glove Labuan LtdIsin: XS1941677764Issuance size: USD200 millionCoupon: 2% Issued Date: 1st March 2019Maturity Date: 1st March 2024 (5 years) Redemption Date: 16th Oct 2020

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Bursa Top 100 Market Capitalization Listed CompaniesData as of last trading day close price on 13/9/2021 based on Thomson Reuters

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Bursa Top 100 Market Capitalization Listed Companies (Con’t)Data as of last trading day close price on 13/9/2021 based on Thomson Reuters

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SGX Top 100 Market Capitalization Listed CompaniesData as of last trading day close price on 13/9/2021 based on Thomson Reuters

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SGX Top 100 Market Capitalization Listed Companies (Con’t)Data as of last trading day close price on 13/9/2021 based on Thomson Reuters

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Summary of Research Reports RatingTarget price (TP), Target PE and Projected Profit After Tax (PAT)

Summary of Research Reports Rating as at 13/9/2021

Num. Report Research New TP Prev TP Call Previous

Date House RM RM FY21F FY22F FY21F FY22F FY23F rating Call

1 10-Jun-21 DBS 7.25 7.25 7.6 18.6 9,299.0 3,772.0 3,272.0 Buy Buy

2 09-Jun-21 Citi 7.00 8.60 6.1 10.1 9,154.0 5,565.0 3,015.0 Buy Buy

3 02-Jul-21 HLIB 6.72 6.76 5.6 10.7 9,341.4 4,911.0 3,456.4 Buy Buy

4 09-Jun-21 Credit Suisse 6.20 6.40 5.5 10.9 9,231.0 4,673.6 3,120.0 Buy Buy

5 10-Jun-21 BIMB 6.10 7.40 5.6 14.5 8,801.3 3,370.3 1,457.1 Buy Buy

6 09-Jun-21 DZT 5.70 16.34 5.1 8.6 9,066.0 5,401.0 NA Buy Buy

7 01-Jul-21 Kenanga 5.60 5.60 5.0 11.2 9,238.0 4,066.0 NA Buy Buy

8 09-Jun-21 UBS 5.60 5.60 4.8 14.7 9,490.0 3,114.0 1,246.0 Hold Hold

9 10-Sep-21 Nomura 5.34 5.34 5.1 16.9 8,520.0 2,555.0 2,024.0 Hold Hold

10 09-Jun-21 HSBC 5.20 5.20 5.1 23.6 7,775.0 1,659.0 1,291.0 Hold Hold

11 10-Jun-21 JF Apex 5.20 5.80 4.6 11.9 9,265.3 3,585.8 NA Hold Hold

12 10-Mar-21 Affin Hwang 5.10 6.65 4.6 10.7 9,003.7 3,903.5 2,923.7 Hold Buy

13 09-Jun-21 Macquarie 4.80 4.90 4.0 18.5 9,537.0 2,323.0 1,230.0 Hold Hold

14 24-Jun-21 MIDF 4.55 5.73 4.1 18.9 8,962.9 1,950.1 1,623.7 Hold Buy

15 10-Jun-21 Public Investment 4.45 7.60 4.1 9.7 8,991.4 3,776.7 2,381.0 Hold Buy

16 15-Jul-21 UOB Kay Hian 4.10 4.10 4.1 8.8 8,162.0 3,760.0 1,612.0 Hold Hold

17 12-Jul-21 TA Securities 4.00 4.02 3.8 8.2 8,340.5 3,951.2 2,540.0 Hold Hold

18 07-Jul-21 MBB 3.98 3.98 3.2 6.0 10,152.0 5,888.0 2,193.0 Hold Hold

19 13-Sep-21 AmInvest 3.77 3.66 3.9 11.9 8,536.1 2,801.8 1,510.9 Hold Hold

20 13-Sep-21 CIMB 3.48 7.80 3.5 10.2 8,141.0 2,809.0 1,815.0 Hold Buy

21 13-Sep-21 RHB 3.30 4.38 3.3 11.0 8,077.0 2,373.0 1,364.0 Hold Hold

5.12 6.34 4.7 12.7 8,908.8 3,629.0 2,115.3

22 10-Sep-21 J.P. Morgan 2.80 2.80 2.5 13.3 8,922.0 1,686.0 1,226.0 Sell Sell

23 06-Sep-21 CLSA 2.70 3.70 2.6 15.9 8,253.0 1,329.0 1,226.0 Sell Sell

24 13-Sep-21 KAF 2.34 4.70 2.4 17.3 7,932.3 1,079.4 802.7 Sell Hold

4.80 6.01 4.4 13.0 8,841.3 3,346.0 1,968.1

* Average for TP above market price @ 13/9/2021 RM3.28

Target PE based Proj PAT, RM'mil

Average from rank 1 to 21*

Total Average from rank 1 to 24

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We Provide the Best Healthcare to Our Employees

Top Glove has 41 Wellness Team Members as at 31 July 2021

Fitness

Professionals3

Wellness

Professionals11

Medical

Professionals &

2 Ambulances

2710 Medical Doctors

1 Dentist

2 Mental Health Counselor

4 Medical Assistants

1 Assistant Pharmacist

3 Nurses

3 Clinic Admins

2 Paramedics

1 Radiographer

7 Nutritionists

1 Dietitian

1 Naturopathy Wellness Consultant

1 Food Service Executive

1 Health Admin Executive

1 xxx

1 Fitness Trainer

2 Fitness Assistants

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We aspire to be the Glove Manufacturer of Choice for customers which

driven by the integration of sustainability into every aspect of our business. Good business starts with strong ethics and the Group is linking Executive Compensation to ESG Metrics.

Commitment

2021 is Year of ESG for Top Glove:

Environmental, Social & Governance

Product Quality and Safety

Occupational Health & Safety

Talent RetentionHuman Rights and Labour Practices

Reduce Carbon Emission

40% of KPIs linked to ESG metrics in 5 focus areas

▪ Performance indicator: Customer complaints rate

▪ Performance indicator: Occupational accident rate

▪ Performance indicator: Top performing employee turnover

▪ Performance indicator: Social ethical audit scoring

▪ Performance indicator:Scope 1 & 2 emission intensity reduction

Good Business champions

Good Environmental Practices

Good Business is Supported by

Good People

Good Business Starts with

Strong Ethics

Link to Top Glove’s Sustainability page: https://www.topglove.com/sustainability/

https://www.topglove.com/sustainability/

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Must know, Must do, Must teach

Top Glove’s Business Direction, Ethics, Rules & Philosophies

To produce consistently high quality

gloves at efficient low cost.

1. Do not lose our shareholders’ money;

2. Do not lose our health;

3. Do not lose our temper;

4. Do not lose our customers.

1. We work for our customers;

2. We take care of the interest of our

shareholders;

3. We ensure that our employees continue

to contribute positively to the company

and we care for their well-being; and

4. We work closely with our bankers,

suppliers, business associates and

friends.

1. Honesty

2. Integrity

3. Transparency

Business rules

Business direction Business philosophies

Business ethics

Investment direction

Guiding principles for growth and success

To invest 1 efficient dollar and earn 2

healthy dollars.

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Top Glove’s Medium and Long Term Objectives

Healthy workforce living 5 Wells with quality and

safety mindset

Diversify to glove related and healthcare

businesses

Embrace Industry 4.0 digital eco-systems

using the power of data

Focus on Product Innovation, Operational Excellence to achieve

customer delight

Good and Prudent Financial Discipline

to achieve target financial ratios

Our Vision :

To be your world class partner in

gloves and healthcare products

Our Mission :

Ensuring safe human protection

globally supported by our values

OUR PEOPLE OUR PRODUCTS,

PROCESS & CUSTOMERSOUR FINANCIALS

Ensure the well being

of our employees, our

greatest assets

Continue to innovate and deliver world class products with

improved processes and ensure ultimate customers satisfaction

Deliver sustainable financial

goals and create value for

our investors and financial

partners

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www.topglove.com | [email protected] | +603 3362 3098

Thank you

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TOP GLOVE ESG CLAPS

Thumbs Up, Ready, 1 2 3

TOP GLOVE

Claps, 2x 3x 2x

IMPROVE! IMPROVE! IMPROVE!

Top Environment

Top Social

Top Governance

Initiated By: TG Year of ESG Committee @ 19/04/2021Verified By: Mr. Ng Yong Lin @ 18/05/2021Approved By: Tan Sri Dr Lim Wee Chai @ 18/05/2021

top glove corporation bhd investor presentation

Documents