KUALA LUMPUR, March 2 — The Malaysian Rubber Gloves Manufacturers Association (MARGMA) has clarified that the sum of RM3.6 billion said to be losses incurred by local glove manufacturers is an estimated loss in potential glove export revenue due to the Withhold Release Order (WRO) issue, and not an actual financial loss of any single company.
The association said this in response to recent news reports which stated that Top Glove Corp Bhd had incurred a loss of about RM3.6 billion during the period of the WRO imposed by the US Customs and Border Protection (CBP) agency.
In a statement today, MARGMA said the sum of the estimated loss in potential glove export revenue was a cumulative sum made on a few affected companies, and based on various assumptions.
“MARGMA wishes to stand corrected on the above information,” it added. — Bernama
