Top Glove shares slip further on news of possible charges

A health worker in protective suit is pictured outside Top Glove’s female staff dormitory in Klang November 18, 2020. — Picture by Yusof Mat Isa
A health worker in protective suit is pictured outside Top Glove’s female staff dormitory in Klang November 18, 2020. — Picture by Yusof Mat Isa

KUALA LUMPUR, Dec 1 — Top Glove Corporation Bhd’s shares slipped more than five per cent or 38 sen to RM6.74 at 4pm today, reducing its market capitalisation to RM55.33 billion.

About 55.5 million shares changed hands.

Earlier today, it was reported that Top Glove was among the companies facing charges for violating the Workers’ Minimum Standards of Housing and Amenities Act 1990 (Act 466).

Sixty-three charges involving several companies and employers, including the glove maker, have been referred to the deputy public prosecutor’s office for further action.

These companies are expected to face charges under Act 446.

In addition, the enhanced movement control order at Top Glove’s workers’ hostel in Klang, which was scheduled to have ended yesterday, has been extended to December 14. — Bernama

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