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2023-09-19 22:32 | Report Abuse
T6 turnaround plan
In addition to the above, management has also devised a six-point turnaround plan known as “T6”.
The first step is to boost the sales volumes of specialised and surgical gloves as the field is less competitive such that Top Glove will enjoy an edge.
The second point is to enhance product quality to make its gloves a top choice for customers.
The third will be to increase production efficiency by maximising the utilisation rate and tapping into its biomass capabilities.
The fourth point is to streamline its workforce to improve productivity while ensuring foreign workers are efficiently utilised.
Top Glove also plans to strengthen its balance sheet by selling any excess land bank, hoping to raise around RM 300 million.
Finally, the group plans to streamline processes and re-negotiate its procurement contracts.
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2023-09-19 22:32 | Report Abuse
Measures to further cut costs
Meanwhile, Top Glove has undertaken further measures to reduce its cost base.
It has decommissioned several production lines, thereby reducing its glove production capacity from 100 million pieces to 95 million.
The group also temporarily stopped production at 17 of its 49 factories to ease the oversupply situation.
Elsewhere, Top Glove also conducted a “workforce rationalisation” exercise in which it laid off 600 of its workers, reducing its manpower from 12,600 to 12,000.
These measures should alleviate cost pressures in the interim while the group adjusts production to cater to the new normal.
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2023-09-19 14:41 | Report Abuse
Dont have then have to wait again lah. Haoyoh. Correct?
Yu_and_Mee
QR today? usually announced during lunch hour
6 minutes ago
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Stock: [TOPGLOV]: TOP GLOVE CORPORATION BHD
2023-09-20 08:20 |
Post removed.Why?