Malaysia’s Top Glove says US allows it to resume sales

Malaysia’s Top Glove Corp said on Friday it has been allowed to resume sales to the United States, after customs authorities lifted a year-long ban imposed for alleged forced labour found at the world’s largest medical glove maker.

The U.S. Customs and Border Protection (CBP) had banned gloves made by Top Glove in July 2020, saying it had found abuses of migrant workers, including debt bondage, in the production process.

Top Glove said in a statement its disposable gloves would be admissible at all U.S. ports of entry as of Sept. 10.

Its shares jumped 10% in early trade on Friday.

The company cited a CBP notice filed to the U.S. Federal Register, saying the customs agency had determined upon additional information that Top Glove‘s products were no longer being produced by forced labour.

The notice is available on the Federal Register website. The CBP was not immediately available for comment outside U.S. business hours.

Top Glove said in April it had resolved all eleven indicators of forced labour as determined by the International Labour Organisation, citing a report by independent consultant Impactt Limited.

Top Glove has taken a hit to reputation and business from the U.S. shipping ban. Its glove production in Malaysia has dropped, and a plan to list its shares in Hong Kong delayed.

Reuters reported in June that Top Glove‘s plans to raise up to $1 billion in the Hong Kong offering was delayed because of the ban. Top Glove said last month it planned to renew a lapsed application to list in Hong Kong.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.