Top Glove Ar 2021

INTEGRATED
ANNUAL
REPORT
2021
Incorporated in Malaysia [Registration No.: 199801018294 (474423-X)] FINANCIAL YEAR ENDED
Registered in Hong Kong [Registration No.: F28982] 31 AUGUST 2021
A Public Company Listed on the Main Market of Bursa Malaysia and Main Board of Singapore Exchange
CONTRIBUTING TO A MORE
Sustainable WORLD
SCAN FOR TG SCAN FOR TG

INTEGRATED ANNUAL CORPORATE
REPORT 2021 VIDEO
2021 KEY HIGHLIGHTS
6-YEAR FINANCIAL REVIEW
The Group registered Compounded Annual Growth Rates (CAGR) for revenue and profit after tax of revenue: 26.9% SHAREHOLDER MIX (MALAYSIA VS. FOREIGN) MARKET CAPITALISATION (RM BILLION)
and PAT 36.3% respectively, since listing in 2001. AS AT 31 AUGUST 2021 (AS AT LAST TRADING DAY OF FINANCIAL YEAR END)
Group 2021 2020 2019 2018** 2017** 2016** 0.18%

(RM’000) (RM’000) (RM’000) (RM’000) (RM’000) (RM’000) 2016 5.3
Turnover 16,361,443 7,237,427 4,801,139 4,220,742 3,409,176 2,888,515 2017 7.1

34.07%
Earnings Before Interest, Taxes, Depreciation & Malaysian Institution 50.69% 2018 14.3
Amortisation (EBITDA) 10,285,089 2,421,457 687,493 694,002 489,255 524,682
Profit Before Taxation 10,033,813 2,165,551 423,588 522,800 393,402 442,202 Malaysia Retail 2019 12.1
Taxation 2,209,821 376,721 56,042 89,594 54,514 79,763 Foreign Institution 15.06% 2020 71.2
Profit After Tax 7,823,992 1,788,830 367,546 433,206 338,888 362,439
Foreign Retail 2021 32.0
Profit Attributable to Owners of the Parent 7,710,327 1,752,584 364,678 428,830 339,023 360,729
Net Cash/(Borrowings) 1,743,037 2,342,651 (2,250,848) (1,960,042) (54,869) 81,015
Total Equity/Net Assets 7,220,160 6,190,883 2,554,141 2,398,396 2,072,791 1,875,697
Return on Equity (%) 131.3 36.0 14.4 18.0 16.4 19.3
Net Assets Per Share (sen)*# 73.3 60.0 33.0 31.1 27.4 24.9
TOTAL EQUITY TOTAL NUMBER OF SHAREHOLDERS
Basic Earnings Per Share (sen)*# 95.9 21.9 4.8 5.6 4.5 4.8 (RM BILLION) AS AT 31 AUGUST 2021 CDS CDP
Net Dividend (sen)* 65.1 11.8 2.5 2.8 2.4 2.4
Number of Shares in Issue (’000)*# 8,006,950 8,124,491 7,679,441 7,668,950 7,524,806 7,515,885 2016 1.9 2016 18,736 Total number of shareholders
Share Price (RM)*^ 4.00 8.76 1.58 1.86 0.94 0.71 2017 2.1 2017 13,329 (based on CDS & CDP accounts)
Market Capitalisation#^ 32,027,801 71,170,541 12,133,517 14,264,247 7,073,318 5,336,278 as at 27 October 2021: 139,375
2018 2.4 2018 15,260
* The comparative net assets per share, basic earnings per share, net dividend, number of shares in issue and share price have been restated to reflect
the effect of bonus issue on the basis of two new ordinary shares for every one existing ordinary share which was completed on 7 September 2020. 2019 2.6 2019 28,523
# Based on Company’s issued and paid up share capital, excluding treasury shares. 2020 6.2
^ As at the last trading day of the financial year. 2020 60,104
** Figures have been restated. 2021 7.2
2021 136,309
REVENUE EBITDA PROFIT BEFORE TAX PROFIT AFTER TAX

(RM Billion) (RM Billion) (RM Billion) (RM Billion)
16.36
10.29
OUR Share Price Volume Traded

2.89
3.41
4.22
4.80
7.24
0.52
0.49
0.69
0.69
2.42
0.44
0.39
0.52
0.42
2.17
10.0
0.36
0.34
0.43
0.37
1.79
7.82
(RM) (Million Shares)
SHARE 12.00 2,000
PRICE 10.00
1,800
MOVEMENT 1,600
1,400
8.00
1,200
6.00 1,000
800
4.00 600
2.00 400
200
0 0
2016
2017
2018
2019
2020
2021
2016
2017
2018
2019
2020
2021
2016
2017
2018
2019
2020
2021
2016
2017
2018
2019
2020
2021
Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug
2020 2020 2020 2020 2021 2021 2021 2021 2021 2021 2021 2021
Highest Share Price (RM) 9.30 9.56 8.54 7.08 7.00 6.95 5.43 5.96 5.61 5.10 4.20 3.98
EARNINGS PER SHARE NET CASH FLOWS TOTAL ASSETS CAPITAL EXPENDITURE Lowest Share Price (RM) 6.01 8.06 6.05 5.90 5.14 5.04 4.37 4.44 4.93 4.15 3.62 3.65
(sen) GENERATED FROM (RM Billion) (RM Billion) Total Volume Traded (Million) 1,866 929 1,318 946 1,414 665 836 700 310 455 510 230
OPERATIONS (RM Billion)
21.9
95.9
0.43
0.38
0.34
0.53
3.46
7.83
2.70
3.00
5.30
5.69
8.71
9.78
0.23
0.48
0.46
0.62
0.82
1.36
4.8
4.5
5.6
4.8
DIVIDEND PAYOUT 65.1

14.1
DIVIDEND POLICY: 50% of Profit After Tax and Minority Interest +452%
For FY2021, the Company declared additional Special Dividend of 20% for 2QFY21, 3QFY21 and 4QFY21. 51.0
Special Dividend (sen) 11.8

2.4 2.4 2.8 2.5
Ordinary Dividend (sen)
2016 2017 2018 2019 2020 2021
Total Dividend (RM million) 181.6 181.9 217.3 192.0 961.7 5,214.2
2016
2017
2018
2019
2020
2021
2016
2017
2018
2019
2020
2021
2016
2017
2018
2019
2020
2021
2016
2017
2018
2019
2020
2021
Payout Ratio (%) 50 54 51 53 55 68
TOTAL DIVIDEND PAYMENT OF RM7.75 BILLION SINCE LISTING IN YEAR 2001

Investor Relations Contact Note: The dividends have been restated to reflect the effect of bonus issue.
All investors are welcome to contact the Investor Relations (IR) team directly at invest@topglove.com.my or visit the
Investor Relations section on our website at https://www.topglove.com
1
ABOUT THIS REPORT CONTENTS
Statement of the Board of Directors of Top Glove HOW IT ALL FITS TOGETHER FORWARD-LOOKING
Corporation Bhd 1 2021 Key Highlights
STATEMENTS Section 4 HOW WE CREATE VALUE
2 About This Report
We measure our performance by evaluating how we create 3 Contents
The Board acknowledges its responsibility to ensure the 76 The Market and Trends that Shape Us
value for our key stakeholders, taking into account our This Report contains forward-
integrity of the Integrated Annual Report. In the Board’s 78 Our Value Creation Model
progress against our strategy, and by regularly measuring looking statements concerning
opinion, the Report addresses all material issues and 80 Our Business Strategies
matters and fairly presents the Group’s performance of
returns on invested capital. We understand the risks we take our financial condition, results of 2021 is 82 Managing Our Risks and Opportunities
and manage these to minimise their impact on our business operations and businesses. These the Year of
the financial year. 86 Future Outlook
and results. We pursue growth by building an organisation forward-looking statements are
Environmental,
that empowers people and enriches communities. subject to a number of risks and
We Are Top Glove uncertainties, many of which are
Social and Section 5 CREATING SUSTAINABLE
We are a global leader in healthcare manufacturing, SCOPE AND BOUNDARY OF REPORTING beyond our control and all of
Governance VALUE
committed to our role in enhancing our Environmental,
which are based on our current (“Year of
Social and Governance areas of performance. 88 Continuing to Do Well by Doing Good:
Financial and non-financial reporting beliefs and expectations about ESG”) for Our Meaningful ESG Journey
For more information, please refer to page 4
This Report constitutes the Integrated Annual Report as future events. Forward-looking TOP GLOVE. 95 Environmental: Transitioning Into
defined in terms of Malaysian law and extends beyond statements are typically A Net Zero Carbon Business
financial reporting. It reflects on non-financial performance, identified by the use of forward- 108 Social: A People Centric Corporate
Message from Our Leaders
The world is our market; we export to more than 195
opportunities, risks and outcomes attributable to or looking terminology such as Citizen
countries worldwide and enhance the lives of billions associated with key stakeholders who have a significant “believes”, “expects”, “may”, 134 Governance: Strengthening
of consumers. influence on our ability to create value. Our reporting “will”, “could”, “should”, “intends”, Section 1 WE ARE TOP GLOVE
Good Corporate Governance and
coverage is based on group-level disclosure unless “estimates”, “plans”, “assumes” Responsible Business Culture
stated otherwise. There is no significant change to our or “anticipates”, or the negative 4 Our Business Overview
structure, ownership and supply chain during the reporting thereof, or other variations thereon 5 Our Export Markets
6 Our Guiding Principles Section 6 STRENGTH OF OUR
How We Create Value year. Group reporting standards are continually being or comparable terminology, or
7 Our Global Offices GOVERNANCE PRACTICES
We think global yet with a strong support of our local developed to make disclosure meaningful and measurable by discussions of strategy that
teams. We rigorously manage our assets and capital for stakeholders. involve risks and uncertainties. 8 Corporate Structure 140 Corporate Governance Overview
allocation for growth. We understand the importance These forward-looking statements 10 International Quality Awards Statement
of making a positive impact on society and delivering and Certifications
MATERIALITY AND MATERIAL MATTERS and other statements contained 172 Statement on Risk Management and
performance and value for all our stakeholders.
in this Integrated Annual Report 12 Our Corporate Directory Internal Control
For more information, please refer to page 76 We apply the principle of materiality in assessing what regarding matters that are not 14 Corporate Information
information to include in our Integrated Annual Report. This historical facts involve predictions. Section 7 OUR PERFORMANCE
Report focuses particularly on those issues, opportunities
Creating Sustainable Value Section 2 OUR PILLARS
We focus our efforts where we can make the greatest
and challenges that impact materially on the Group as well No assurance can be given 176 Directors’ Responsibility Statement
OF TRUST
impact and continuously we are working on refining as on its ability to be a sustainable business that delivers that such future results will be 177 Directors’ Report
and evolving our sustainability strategy. value to key stakeholders, including our shareholders. achieved. Actual events or results 15 Board of Directors 185 Statement by Directors
may differ materially as a result of 28 An Empowered Board 185 Statutory Declaration
THE LEGISLATION AND FRAMEWORKS THAT INFORM risks and uncertainties facing us 29 Executive Committee 186 Independent Auditors’ Report
OUR REPORTING and our subsidiaries. Such risks 30 Senior Management Team 190 Statements of Profit or Loss
Strength of Our Governance and uncertainties could cause 191 Statements of Comprehensive Income
We understand the risks we take and try to manage This Integrated Annual Report was prepared against local actual results to vary materially 192 Statement of Financial Position
these to minimise their impact on our businesses. Our and global standards, including: from the future results indicated, Section 3 MESSAGE FROM 195 Statements of Changes in Equity
strong governance is integral to the way we think and expressed or implied in such OUR LEADERS 198 Statements of Cash Flows
make decisions.
• Framework of the International Integrated Reporting forward-looking statements. 202 Notes to the Financial Statements
32 In Conversation with the
For more information, please refer to page 140 Council (IIRC), Sustainability Accounting Standards
Executive Chairman
Board (SASB): this principles-based approach promotes The forward-looking statements Section 8
Tan Sri Dr Lim Wee Chai OTHER INFORMATION
the concept of the six capitals, which considers material contained in the Integrated Annual
Reporting (English, BM & Mandarin)
inputs and resources required to create and sustain Report speak only as of the date 291 List of Properties
In line with best practice for Integrated Reporting, we 48 Letter to Stakeholders and
report on the six (6) capitals that together provide a
value in the long term. of the Report. We are not under 308 Analysis of Shareholdings
Management Discussion
true picture of value across the Group. This way of • We support the United Nations’ Sustainable any obligation to (and expressly 311 Notice of 23rd AGM
& Analysis (English, BM &
telling a comprehensive, connected story fits well with Development Goals (SDGs) and, like many other disclaim any such obligation to) 317 Administrative Details for 23rd AGM
Mandarin)
our holistic view of value and our focus on creating businesses, we have identified which of those goals our revise or update any forward- 323 Proxy Form
sustainable value for long-term good. business aligns with. We discuss this alignment and our looking statements to reflect 325 GRI Content Index
For more information, please refer to page 78 activities in support of the SDGs in this Report. events or circumstances after the 331 Independent External Assurance
• Malaysian Companies Act 2016 date of the Report or to reflect Statement
• Malaysian Code on Corporate Governance the occurrence of unanticipated 335 Corporate Song
Approved by the Board and acknowledged on • The non-financial sections of this Integrated Annual Report events. We cannot give any
behalf of the Board by: are in accordance with the GRI Standards: Core Option. assurance that forward-looking
• FTSE4Good Bursa Malaysia Index statements will prove correct Navigating through the Integrated Annual Report 2021
TAN SRI DR DATO’ • Bursa Malaysia Sustainability Reporting Guidelines 2nd and investors are cautioned not
LIM WEE CHAI LEE KIM MEOW Informs where to find more information online.
Executive Chairman Managing Director Edition to place undue reliance on any
• Bursa Malaysia Corporate Governance Guide 3rd Edition forward-looking statements. Informs which related pages to refer for more information.
• Dow Jones Sustainability Index (DJSI)
• MSCI Global Standard Index
2 3
WE ARE TOP GLOVE
OUR BUSINESS OVERVIEW OUR EXPORT MARKETS
THE WORLD’S LARGEST THE WORLD IS OUR MARKET

EXPORTS TO 195 COUNTRIES WORLDWIDE
MANUFACTURER OF GLOVES
NORTH AMERICA EUROPE
100. Republic of the Congo 153. Jordan
1. Canada 48. Albania 101. Djibouti 154. Kazakhstan
Established in 1991 and headquartered in Malaysia, Top Glove 2. USA 49. Andorra 102. Egypt 155. Kuwait
50. Austria 103. Equatorial Guinea 156. Kyrgyzstan
Corporation Bhd is the world’s largest manufacturer of gloves. Top Glove was established in 1991 with 51. Belgium 104. Ethiopia 157. Laos
1 factory and 1 glove production line. 105. Eritrea 158. Macau
What started as only a local business enterprise with 1 factory LATIN AMERICA 52. Bosnia Herzegovina
53. Bulgaria 106. Gabon 159. Malaysia
and 1 glove production line, has today captured 26% of the world 54. Croatia 107. Gambia 160. Maldives
3. Anguilla 108. Ghana 161. Mongolia
55. Czech Republic
market share for rubber gloves. This 2021, Top Glove celebrates 4. Antigua and Barbuda
56. Denmark 109. Guinea 162. Nepal
5. Argentina 110. Guinea-Bissau 163. Oman
its 30th anniversary, marking 3 decades of resounding success 6. Aruba
57. Estonia
111. Kenya 164. Pakistan
58. Finland
7. Bahamas
in the business. The Company has manufacturing operations in 8. Barbados
59. France 112. Lesotho 165. Palestine
60. Germany 113. Liberia 166. Philippines
Malaysia, Thailand, Vietnam and China. It also has marketing 9. Belize
61. Greece 114. Madagascar 167. Qatar
10. Bolivia 115. Malawi 168. Saudi Arabia
offices in these countries as well as USA, Germany and Brazil 11. Brazil
62. Hungary
116. Mali 169. Singapore
63. Iceland
12. British Virgin Islands
and exports to about 2,000 customers in 195 countries worldwide. Top Glove’s listing on the Kuala Lumpur Stock
13. Cayman Islands
64. Ireland 117. Mauritania 170. South Korea
Exchange (now Bursa Malaysia) in 2001. 65. Italy 118. Mauritius 171. Sri Lanka
14. Chile 119. Morocco 172. Taiwan
66. Kosovo
Listed on the Malaysian Bourse (2001) In line with its commitment to 15. Colombia 120. Mozambique 173. Tajikistan
67. Latvia
16. Costa Rica 121. Namibia 174. Thailand
and Mainboard of the Singapore sustainability, Top Glove will continue to 68. Liechtenstein
17. Dominica 122. Niger 175. Turkey
Exchange (2016), Top Glove has level up its practices in the Environmental, 69. Lithuania
18. Dominican Republic 123. Nigeria 176. Turkmenistan
70. Luxembourg
demonstrated steady growth with a Social and Governance (ESG) space 19. Ecuador 124. Rwanda 177. United Arab Emirates
71. Macedonia, FYR
compound annual growth rate (CAGR) particularly in terms of labour practices. 20. El Salvador 125. Sao Tome and Principe 178. Uzbekistan
72. Malta
21. Grenada 126. Senegal 179. Vietnam
of 27% for revenue and 36% for profit 73. Moldova
22. Guadeloupe 127. Seychelles
74. Monaco
after tax over the past 20 years. It is also The Company’s outstanding achievements 23. Guatemala 128. Sierra Leone
75. Montenegro
a component stock of the MSCI Global and global recognition are credited largely 24. Guyana 129. South Africa
76. Netherlands OCEANIA
25. Haiti 130. Swaziland
Standard Index, FTSE Bursa Malaysia to its founder Tan Sri Dr Lim Wee Chai, the Top Glove’s secondary listing on the Main 77. Norway
Board of Singapore Exchange (SGX) in 2016. 26. Honduras 131. Tanzania
KLCI Index, FBM Top 100 Index, FBM visionary and driving force, who within a 78. Poland
27. Jamaica 132. Togo 180. American Samoa
79. Portugal
Emas Index, FBM Hijrah Syariah Index, short span of time, has built the company 28. Martinique 133. Tunisia 181. Australia
80. Romania
29. Mexico 134. Uganda 182. Fiji
FBM Emas Syariah Index and the Dow into a resounding global success. 81. Russia
30. Montserrat 135. Zambia 183. Guam
Jones Sustainability Index (DJSI) for 82. San Marino
31. Netherlands Antilles 184. Kiribati
83. Serbia
Emerging Markets. In the year 2021, Top With the help of its 22,000 employees, Top 32. Nicaragua 185. Marshall Islands
84. Slovakia
Glove was also included in the Forbes Glove continues to produce high quality 33. Panama 186. Micronesia
85. Slovenia ASIA
34. Paraguay 187. Nauru
Global 2000 and is the only Malaysian gloves at an efficient low cost in line with 86. Spain
35. Peru 188. New Caledonia
87. Sweden 136. Afghanistan
glove company on the prestigious list. its time-tested Business Direction. Not 36. Puerto Rico 189. New Zealand
88. Switzerland 137. Armenia
content to rest on its laurels, Top Glove 37. Saint Barthelemy 190. Palau
89. United Kingdom 138. Azerbaijan
38. Saint Kitts and Nevis 191. Papua New Guinea
Top Glove offers a comprehensive has set its sights on higher aspirations Top Glove became the world’s largest
39. Saint Lucia 139. Bahrain 192. Samoa
manufacturer of nitrile gloves in FY2020,
product range, which now includes which include becoming a Forbes and 40. Saint Martin 140. Bangladesh 193. Solomon Islands
in addition to already being the world’s
a non-glove segment comprising Fortune Global 500 Company by 2030. largest manufacturer of natural rubber 41. Saint Vincent and AFRICA 141. Bhutan 194. Tonga
gloves and surgical gloves. Grenadines 142. Brunei 195. Vanuatu
condoms, face masks, dental dams, Accordingly, it continues to expand its 90. Algeria 143. Cambodia
42. Suriname
exercise bands and household products, business scope and to be on the lookout 43. Trinidad & Tobago 91. Angola 144. China
fulfilling demand in both the healthcare for M&A opportunities in similar and 44. Turks And Caicos 92. Benin 145. Cyprus
45. U.S. Virgin Islands 93. Botswana 146. East Timor
and non-healthcare segment. related industries.
46. Uruguay 94. Burkina Faso 147. Georgia
47. Venezuela 95. Burundi 148. Hong Kong
96. Cameroon 149. India
The details of our stakeholder engagement, including stakeholder groups, the reason we
engage, top 5 material matters concerned, engagement approaches, responses to concerns
97. Cape Verde 150. Indonesia
and value created can be found on page 166 under the Corporate Governance Overview 98. Chad 151. Israel
Statement in this Integrated Annual Report. 99. Comoros 152. Japan
For detailed reporting of our annual ESG issues management and initiative progress in FY2021,
please refer to the Creating Sustainable Value section in this Report from page 88 to 139. Top Glove diversified into personal care
production in 2021.
4 TOP G L O V E C O R P ORAT ION BHD I N TEG RAT E D A NNUA L RE P O RT 2 0 2 1 5

WE ARE TOP GLOVE
OUR GUIDING PRINCIPLES OUR GLOBAL OFFICES
BUSINESS DIRECTION
To Produce Consistently High Quality Gloves At Efficient Low Cost
BUSINESS PHILOSOPHIES QUALITY POLICY
1 We work for our customers 1 Quality and productivity are our business
2 We take care of the interest of our 2 Continuous improvement and innovation

shareholders are our duties
3 We ensure that our employees continue 3 Towards zero defects is our target
to contribute positively to the company
and we take good care of the well-being 4 Compliance with customers’ and
of our employees regulatory requirements is our
responsibility
4 We work closely with our bankers,
suppliers, business associates,
government authorities and friends TAN SRI DR LIM WEE CHAI
Executive Chairman
BUSINESS RULES Top Glove Corporation Bhd
1 Do not lose our shareholders’ money

CORPORATE VALUES [R.I.V.E.R.]
USA GERMANY VIETNAM CHINA
2 Do not lose our health
1 Respect
3 Do not lose our temper
2 Integrity
4 Do not lose our customers
3 Value
4 Empowerment
5 Relationship 5 HEALTHY WELLS

INDONESIA
1 Clean Well
BUSINESS ETHICS 2 Eat Well
1 Honesty 3 Work Well
2 Integrity 4 Exercise Well
3 Transparency 5 Sleep Well
BRAZIL THAILAND MALAYSIA SINGAPORE

WE ARE TOP GLOVE
CORPORATE STRUCTURE CORPORATE STRUCTURE
TOP GLOVE SDN BHD

100%
(Malaysia) FLEXITECH SDN BHD TOP GLOVE EUROPE GMBH
100%
(Malaysia)
97.5% (Germany)
EASTERN PRESS SDN BHD TG EXCELLENCE BERHAD GREAT GLOVE (XINGHUA) CO LTD TG MEDICAL (PUTIAN) CO LTD
100% 100% 100% (China) 100%
(Malaysia) (Malaysia) (China)
TG FMT SDN BHD TG MEDICAL SUZHOU CO LTD TG MEDICAL (XINGHUA) CO LTD
70% 100% (China) 100%
TG HEALTHCARE SDN BHD (Malaysia) (China)
100%
(Malaysia)
TG PORCELAIN SDN BHD BESTSTAR ENTERPRISE LTD
100% 100% (BVI)
(Malaysia)
TG MEDICAL (U.S.A.), INC TGGD MEDICAL CLINIC SDN BHD
100% 75% B TECH INDUSTRY CO LTD
(USA) (Malaysia) 100% (Thailand)
TOP ACADEMY SDN BHD
100% GREAT GLOVE (THAILAND) CO LTD
TG WORLDWIDE SDN BHD (Malaysia) 74%
100% (Thailand)
(Malaysia)
TOP GLOVE CHEMICALS SDN BHD
100% TOP GLOVE TECHNOLOGY (THAILAND) CO LTD
(Malaysia) 100% (Thailand)
TOP GLOVE ENGINEERING SDN BHD TOP GLOVE INTERNATIONAL SDN BHD
100% 100%
(Malaysia) (Malaysia) TOP QUALITY GLOVES (THAILAND) CO LTD
100% (Thailand)
TOP GLOVE PROPERTIES SDN BHD
TOP GLOVE GLOBAL SDN BHD 100%
TOP GLOVE 100% (Malaysia) TOP GLOVE VIETNAM COMPANY LIMITED
(Malaysia) 100% (Vietnam)
CORPORATION BHD VALUE ADD SDN BHD
(Malaysia & 27%
(Malaysia) HEALTHY HOSTEL SDN BHD
100% (Malaysia) Aerial view of
Hong Kong) TOP GLOVE LABUAN LTD
100% MEDI-FLEX PTE LTD Factory 38 in
(Labuan) 100% Kulim, Kedah.
(Singapore)
(Listed on the Main
TOP QUALITY GLOVE SDN BHD 61.54% ADVENTA HEALTH SDN BHD
Market of Bursa 100% TOP GLOVE MEDICAL (THAILAND) CO LTD 100% (Malaysia)
(Malaysia)
Malaysia & Main (Thailand)
Board of Singapore 38.46% CYTOTEC (M) SDN BHD
100%
TOP GLOVE FOUNDATION* (Malaysia)
Exchange)
(Malaysia) TOP HEALTHY FITNESS SDN BHD SENTIENX SDN BHD
100% 100% (Malaysia)
(Malaysia)
TOP SYNTHETIC RUBBER SDN BHD TERANG NUSA SDN BHD
TG MEDICAL SDN BHD 100% 100% (Malaysia)
100% (Malaysia)
(Malaysia)
TG RAYTECH SDN BHD ULMA INTERNATIONAL GMBH
98.93%
(Malaysia) 100% (Germany)
GMP MEDICARE SDN BHD TG ECOMMERCE SDN BHD
100% 100% TERANG NUSA (MALAYSIA)
(Malaysia) (Malaysia)
100% SDN BHD
GREAT GLOVE (MALAYSIA) SDN BHD (Malaysia)
TG MEDITECH SDN BHD
100% (Malaysia) 100%
(Malaysia) 2%
Aerial view of
TOP FEEL SDN BHD DURAMEDICAL SDN BHD PURNABINA SDN BHD Factory 9 and
100% (Malaysia) 85% 95.2% (Malaysia) its surrounding
(Malaysia) factories in
Meru, Klang.
ASPION SDN BHD SUIZZE HEALTH LTD
100% 100% 99.9% KEVENOLL DO BRASIL
(Malaysia) (Hong Kong)
0.1% (Brazil)
BEST ADVANCE RESOURCES LIMITED
100% 99.9%
TOP CARE SDN BHD (Labuan)
100% PT. AGRO PRATAMA PT. TOP GREEN
(Malaysia) PT. TOPGLOVE INDONESIA
GREEN RESOURCES LIMITED (Indonesia)
95% SEJAHTERA 60% FORESTRY
100% 0.1% (Indonesia) (Indonesia)
Notes: (Labuan)
1. Top Glove has in total 62 companies within the Group. TG EFFICIENT SDN BHD
100%
2. * Top Glove Foundation is a member of Top Glove Group. (Malaysia)

WE ARE TOP GLOVE
INTERNATIONAL QUALITY AWARDS AND CERTIFICATIONS INTERNATIONAL QUALITY AWARDS AND CERTIFICATIONS
NEW LEVELS OF EXCELLENCE

We are honoured to be conferred notable awards, certifications and recognitions
both at the industry and international level. These accolades motivate us to set our
bar higher to perform better and strive for greater efficiencies.
2021
2018
The Edge Billion Ringgit Club Awards 2018 Asean Business Awards 2018 Winner Priority
(Healthcare Sector) Integrated Sector (Rubber-based)
• Highest Return on Equity over 3 years ASEA N- BAC by ASEAN Business Advisory Council
Winner: Best Performing Stock, MSWG: Top 100 HRD Awards Asia 2021 Winner: Best Employee Experience • Highest Growth in Profit After Tax over 3 years
Fastest Growing Company, Best Companies For CG • Winner: Best Leadership Employer Brand Awards 2021 Malaysia • Highest Returns to Shareholders over 3 years Winner: Manufacturing
in Sector and Overall Winner Disclosure 2020 Development Programme Graduates’ Choice Bronze: Best Employer by The Edge (Chemicals & Heavy Industries)
Category: Healthcare Services by Minority • Excellence Award: Best Awards 2021 Branding by Malaysia’s 100 Leading Graduate Employers 2018,
and Pharmaceutical sector Shareholders Watch Learning & Development Category: by Human Resources 2nd Asean Corporate Governance Award 2018 GTI Media
by The Edge Billion Dollar Club Group (MSWG) Programme Manufacturing Online (Category: Top 50 ASEAN PLCs)
2021 by Key Media by Talentbank by MSWG Nanyang Superb Brand Award 2018
(Category: Glove Innovation)
International Iconic Brand 2018 by Nanyang Siang Pau
by The BrandLaureate
2020 2019 MSWG - Asean Corporate Governance Award 2017
Best Companies to Work For in Asia 2018 (Categories: Merit Award for Most Improved
Best Companies To Work For In Asia 2020 8 by HR Asia Corporate Governance Disclosure & Industry
by HR Asia The BrandLaureate Iconic Brands of the Excellence for Manufacturing)
Decade Award 2019 Most Innovative Award 2018 by MSWG
Prime Minister’s Hibiscus Award 2019/2020 Category: Manufacturing-Gloves Export Excellence Award 2018
Notable Achievement in Environmental Performance by The BrandLaureate by Malaysian Rubber Export Promotion Council (MREPC)
by Prime Minister’s Hibiscus Awards
Highly Commended: Healthiest Workplace
HR Excellence Awards 2020 Malaysia by AIA Vitality 2019
• Gold Award: Excellence in Leadership
Development Category The Star Export Excellence Awards 2019
• Silver Award: Excellence in Talent Management
Category
Silver Award: Other Industries Category
by The Star Media Group, Malaysia 2012 TO 2017 1991 TO 2011
• Silver Award: Most People-Focused CEO
Category Winner: Five Petal BEIM Gold Ethics Award 2019
• Bronze Award: Excellence in Corporate by Business Ethics Institute of Malaysia (BEIM)
Wellness Category
by Human Resources Online Winner: Manufacturing (Chemical & Heavy
Industries Most Popular Graduate Recruiter 2019)
The Edge Billion Ringgit Club 2020 by Malaysia’s 100 Leading Graduate Employers 2019,
Highest Returns to Shareholders Over Three GTI Media
(3) Years Award (Category: The Super Big Cap
Companies more than RM40bn) Best Companies To Work For In Asia 2019
by The Edge Malaysia by HR Asia
The Edge Billion Dollar Club 2020 Human Resources Excellence Awards 2019
Highest Returns to Shareholders Over Three (3) Excellence in Talent Management (Bronze)
Years Award (Category: Healthcare Services & by Human Resources Online
Pharmaceutical sector)
by The Edge Singapore
Graduates’ Choice Award 2019
Category: Manufacturing
Winner: International Innovation Awards 2020 by Talentbank
Top Eco Rubber, Top Grip Thermoplastic Elastomer
(TPE) Glove, Finessis (Category: Product)
by The International Innovation Awards® (IIA) MSWG - Asean Corporate Governance Award 2018
Industry Excellence Award (Healthcare)
by MSWG
Winner: CSR-Department of Industrial
Works (DIW) Awards 2020
by CSR DIW Award CSR Malaysia Awards 2019
CSR Malaysia Company of the Year 2019
(Category: Manufacturing of Gloves)
Winner: National Energy Awards 2020 (NEA) by CSR Malaysia
Category 1: Energy Efficiency;
Energy Management (Large Industry)
by National Energy Awards The 100 Most Influential Young Entrepreneurs 2019
(Category: Lifetime Achievement Award)
Accolades, Recognitions & Certifications
by Entrepreneur Insight
MSWG-Asean Corporate Governance Award 2019
• Industry Excellence Award (Healthcare) The only Malaysian company being included in the Forest Stewardship Council (FSC) Chain of
• ASEAN Asset Class The Golden Brick Award 2019 Dow Jones Sustainability Index (DJSI) Emerging Custody certification for our latex concentrate
by MSWG (Category: Lifetime Achievement)
by the Hokkien Association of Malaysia Markets in 2020 Factory 16L and Factory 17L in Thailand
Asia Recruitment Awards 2020

Category: Best Use of Recruitment Technology National Cooperative Education Inclusion in the Morgan Stanley Capital
Tools (Silver) Awards 2019 (Thailand) International (MSCI) Global Standard Index
by Human Resources Online

WE ARE TOP GLOVE
OUR CORPORATE DIRECTORY OUR CORPORATE DIRECTORY
MALAYSIA OFFICES AND FACTORIES
SELANGOR FACTORY 19 FACTORY 31 KELANTAN KEDAH

Lot 4987, Jalan Bunga Raya, Batu 6, Lot 6472, Lorong Sungai Puloh/KU06,
FACTORY 2 Off Jalan Meru, 41050 Klang, Kawasan Perindustrian Sungai Puloh, FACTORY 36 FACTORY 38
Lot 4968, Jalan Teratai, Batu 6, Selangor D.E., Malaysia. 42100 Klang, Selangor D.E., Malaysia. 2, Jalan 8, Pengkalan Chepa 2 Lot 7, Jalan Hi-Tech 12,
Off Jalan Meru, 41050 Klang, Tel : +603 3392 5900 Tel : +603 7890 3331 Industrial Zone, 16100 Kota Bharu, Zon Industri Fasa 3,
Selangor D.E., Malaysia. Fax : +603 3392 5910 Kelantan D.N., Malaysia. 09090 Kulim Hi-Tech Park,
Tel : +603 3392 1992/1905 FACTORY 32 Tel : +609 774 7171 Kedah D.A., Malaysia.
FACTORY 19BF Lot 4981 & 4982, Jalan Dahlia, Fax : +609 774 7757 Tel : +603 7890 3338
FACTORY 3 Lot 4987, Jalan Bunga Raya, Batu 6, Kawasan Perindustrian Meru Timur,
Lot 5091, Jalan Teratai, Batu 5, Off Jalan Meru, 41050 Klang, 41050 Klang, Selangor D.E., Malaysia.
Off Jalan Meru, 41050 Klang, Selangor D.E., Malaysia. Tel : +603 7890 3332
CORPORATE OFFICE, SETIA ALAM Tel : +603 3392 1992 Fax : +603 3392 1291/8410 JOHOR
Selangor D.E., Malaysia.
Address : Level 21, Top Glove Tower, Tel : +603 3392 7880/7350
16, Persiaran Setia Dagang, Fax : +603 3392 9160 FACTORY 20 & 20BC FACTORY 34PM FACTORY 37AB FACTORY 37CD
Lot 4988, Jalan Bunga Raya, Batu 6, Lot 5, Jalan Paku 16/6, No. 2 & 6, Jalan Mahsuri 1, No. 7, Jalan Mahsuri 1,
Setia Alam, Seksyen U13,
FACTORY 4 Off Jalan Meru, 41050 Klang, 40000 Shah Alam, Selangor D.E., Malaysia. Kawasan Perindustrian Kluang 1, Kawasan Perindustrian Kluang 1,
40170 Shah Alam, Selangor D.E., Malaysia. Tel : +603 5519 1576 86000 Kluang, Johor D.T., Malaysia. 86000 Kluang, Johor D.T., Malaysia.
Lot 5987, Jalan Teratai, Batu 5,
Selangor D.E., Malaysia. Tel : +603 3392 5900/+603 7890 3322 Fax : +603 5510 0072 Tel : +607 787 9731 Tel : +607 787 9815/+603 3362 3098
Off Jalan Meru, 41050 Klang,
Tel : +603 3362 3098 Selangor D.E., Malaysia. Fax : +607 787 9733 Fax : +607 787 9736
Fax : +603 3362 3860 Tel : +603 3392 8588/8996 FACTORY 21 & 21RBD FACTORY 35A, 35CD & 35FM
Email : sales@topglove.com.my Fax : +603 3392 6788 Lot 4989, Jalan Dahlia/KU8, Kawasan Lot 5090, Jalan Teratai, Batu 5,
Perindustrian Meru Timur, 41050 Klang, Off Jalan Meru, 41050 Klang,
invest@topglove.com.my Selangor D.E., Malaysia. Selangor D.E., Malaysia.
FACTORY 10 INTERNATIONAL OFFICES AND FACTORIES
tgfoundation@topglove.com.my Tel : +603 3392 1899/5399 Tel : +603 3392 7880/7350
Lot 4970, Jalan Teratai, Batu 6,
Website : https://www.topglove.com Off Jalan Meru, 41050 Klang, +603 7890 3321
FACTORY 39/Duramedical THAILAND CHINA
Tel : +603 3392 9288/9942/3320 FACTORY 22 Lot 4962, Jalan Teratai,
Fax : +603 3392 8984 Lot 4990, Jalan Bunga Raya, Batu 6, Batu 6, Off Jalan Meru, FACTORY 6
41050 Klang, Selangor D.E., Malaysia. FACTORY 15
Off Jalan Meru, 41050 Klang, 180/3, Moo 7, Srisoontorn Road,
Tel : +603 7890 3339 No. 4 Shazhuang Road,
FACTORY 11 Selangor D.E., Malaysia. Tambon Srisoontorn, Amphur Economic Development District,
Lot 4967, Jalan Teratai, Batu 6, Tel : +603 7890 3322 Thalang, Phuket 83110, Thailand. Xinghua City,
Off Jalan Meru, 41050 Klang, Fax : +603 3392 1186 FACTORY 40 Tel : +66 76 620 190 225700 Jiang Su Province,
Selangor D.E., Malaysia. Lot 67330, Lorong Bougainvillae/KU8, Fax : +66 76 620 196 P. R. China.
Tel : +603 3392 1899/5399 FACTORY 24 Kawasan Perindustrian Meru Timur,
Tel : +86 523 8326 8976
Lot 4986, Jalan Dahlia/KU8, 41050 Klang, Selangor D.E., Malaysia. FACTORY 7 & 8A Fax : +86 523 8326 8676
FACTORY 12 Kawasan Perindustrian Meru Timur, Tel : +603 7890 3340 188, 189, 190 Moo 5, Karnchanawanich
Lot 4960, Jalan Teratai, Batu 6, 41050 Klang, Selangor D.E., Road, Tambol Samnakkham,
Off Jalan Meru, 41050 Klang, Malaysia. Amphur Sadao, Songkhla 90320
Tel : +603 3392 6010/0975 PERAK VIETNAM
Selangor D.E., Malaysia. Thailand.
Tel : +603 3392 3375 Fax : +603 3392 0289 Tel : +66 74 410 000
Fax : +603 3392 5200 FACTORY 5 & 5B Fax : +66 74 410 007/008 FACTORY 41
FACTORY 25 Lot 18, 27, 38 & 57, Medan Tasek, Land Lot A_8B_CN,
FACTORY 13 PT 64593, Jalan Dahlia/KU8, Kawasan Perindustrian Tasek, FACTORY 16L Bau Bang Industrial Park,
Lot 4947, Jalan Teratai, Batu 6, Kawasan Perindustrian Meru Timur, 31400 Ipoh, Perak D.R., Malaysia. 188, Moo 5, Tambol Pangla, Lai Uyen Town, Bau Bang District,
Off Jalan Meru, 41050 Klang, 41050 Klang, Selangor D.E., Malaysia. Tel : +605 546 6360/+605 547 9271 Amphur Sadao, Binh Duong Province, Viet Nam.
Selangor D.E., Malaysia. Tel : +603 3392 6341/6317 Fax : +605 547 8975 Songkhla 90170 Thailand. Tel : +84 274 380 3725/3744
Tel : +603 3393 1288 Fax : +603 3392 6348 Tel : +66 74 410 888
Fax : +603 3393 1993 FACTORY 5C Fax : +66 74 410 886
FACTORY 25ACB Lot 7, Medan Tasek,
Lot 5144, Jalan Dahlia KU8, USA
FACTORY 13P Kawasan Perindustrian Tasek, FACTORY 17L
FACTORY OFFICE, KLANG Lot 4946, Jalan Teratai, Batu 6, Kawasan Perindustrian Meru, 31400 Ipoh, Perak D.R., Malaysia. 268, Moo 5, Tambol Kampangphet,
Mukim Kapar, 41050 Klang, Tel : +605 546 6360/+605 547 9271 U.S.A. MARKETING OFFICE
(FACTORY 9) Off Jalan Meru, 41050 Klang, Amphur Rattaphum,
Selangor D.E., Malaysia. Fax : +605 547 8975 TG Medical (U.S.A.) Inc.,
Selangor D.E., Malaysia. Songkhla 90180 Thailand.
Address : Lot 4969, Jalan Teratai, 155, North Aspan Avenue,
Tel : +603 3885 3141 Tel : +66 74 302 888
Batu 6, Off Jalan Meru, FACTORY 26 FACTORY 23 Azusa CA 91702 U.S.A.
Fax : +603 3392 0122 Fax : +66 74 302 889/302 890
Lot 4961, Jalan Teratai, Batu 6, Lot 12, Medan Tasek, Tel : +1 626 969 8808
41050 Klang, Fax : +1 626 969 7823
FACTORY 14 Off Jalan Meru, 41050 Klang, Kawasan Perindustrian Tasek,
Selangor D.E., Malaysia. Email : topglove@topgloveusa.com
Lot 5104, Jalan Teratai, Batu 5, Selangor D.E., Malaysia. 31400 Ipoh, Perak D.R., Malaysia.
Tel : +603 3392 1992/1905 Tel : +603 3392 3375 Tel : +605 545 5032 GERMANY
Off Jalan Meru, 41050 Klang,
Fax : +603 3392 9848 Fax : +603 3392 5200 Fax : +605 547 8975
Tel : +603 3392 3626 GERMANY SALES OFFICE 1 BRAZIL
FACTORY 29 Top Glove Europe GmbH,
Lot 4985, Jalan Dahlia/KU8, NEGERI SEMBILAN Bliersheimer Str. 80 A,
FACTORY 18B & 18G BRAZIL MARKETING OFFICE
Lot 124 & 126, Jalan Lapan, Kawasan Perindustrian Meru Timur, 47229 Duisburg, Germany.
41050 Klang, Selangor D.E., Malaysia. FACTORY 27 Tel : +49 (0) 2065 76421 0 Kevenoll do Brasil Produtos
Kompleks Perabot Olak Lempit, Médicos Hospitalares Ltda,
13 KM, Jalan Banting Dengkil, Tel : +603 3392 6010 Lot 2431 Mukim Port Dickson, Fax : +49 (0) 2065 76421 19
Sendayan, 71100 Siliau, Email : info@topglove.de Rodovia Antônio Heil,
42700 Banting, 1001 – KM01,
Selangor D.E., Malaysia. FACTORY 30 Negeri Sembilan D.K., Malaysia.
Lot 4983 & 4984, Jalan Dahlia, Tel : +603 7890 3327 GERMANY SALES OFFICE 2 Sala 203 - Itaipava,
Tel : +603 3149 1998 Itajaí, Santa Catarina,
Fax : +603 3149 3008 Kawasan Perindustrian Meru Timur, Fax : +606 651 6896 Ulma International GmbH
41050 Klang, Selangor D.E., Malaysia. Pfaffenweg 35, 89231 Neu-Ulm, Germany. 88316-001 Brazil.
Tel : +603 7890 3330 FACTORY 33 Tel : +49 731 926043 15 Tel : +55 (47) 3390 8800/3349 6168
Fax : +603 3392 5066 Lot 3726, Kawasan Perindustrian Nilai, Fax : +49 731 926043 10 Email : kevenoll@kevenoll.com.br
Mukim Setul Daerah Seremban, Email : ulma@ulma.de
71800 Nilai, Negeri Sembilan D.K., Malaysia.
Tel : +603 7890 3333

OURARE
WE PILLARS
TOP GLOVE
OF TRUST OUR PILLARS OF TRUST
CORPORATE INFORMATION BOARD OF DIRECTORS
REGISTERED & CORPORATE STOCK EXCHANGE LISTING AUDITORS

OFFICE OUR VISION OUR MISSION
Main Market of Bursa Malaysia Ernst & Young PLT
To be your world class partner in Ensuring safe human
Level 21, Top Glove Tower Securities Berhad 202006000003 gloves and healthcare products protection globally
16, Persiaran Setia Dagang Stock Code : 7113 (LLP0022760-LCA) & AF 0039
Setia Alam, Seksyen U13 Stock Name : TOPGLOV Chartered Accountants
40170 Shah Alam Listing Date : 27 March 2001 Level 23A, Menara Milenium 1 2 3 4
Selangor D.E., Malaysia Jalan Damanlela
Tel. : +603 3362 3098 Main Board of Singapore Exchange Pusat Bandar Damansara
Fax : +603 3362 3860 Securities Trading Limited 50490 Kuala Lumpur, Malaysia
Email : (i) sales@topglove.com.my Stock Code : BVA
(ii) invest@topglove.com.my Stock Name : Top Glove
(iii) tg@whistleblower.com.my Listing Date : 28 June 2016
(iv) media@topglove.com.my PRINCIPAL BANKERS
Website : https://www.topglove.com ADR Programme
1. BNP Paribas Malaysia Berhad
(Depository Receipt Programme) USA
2. CIMB Bank Berhad 5 6
ADR Symbol : TGLVY
3. Citibank Berhad
SENIOR INDEPENDENT 4. Deutsche Bank (Malaysia)
NON-EXECUTIVE DIRECTOR Berhad
REGISTRAR IN MALAYSIA 5. Hong Leong Bank Berhad
Dato’ Lim Han Boon 6. Industrial and Commercial Bank
Tel : +603 3362 3098 of China (Malaysia) Berhad
Securities Services (Holdings) Sdn Bhd
Email : hblim@topglove.com.my 7. Malayan Banking Berhad
Level 7, Menara Milenium
Jalan Damanlela 8. Mizuho Bank (Malaysia) Berhad
Pusat Bandar Damansara 9. MUFG Bank (Malaysia) Berhad
10. OCBC Bank (Malaysia) Berhad 7 8
CHARTERED SECRETARIES Damansara Heights
50490 Kuala Lumpur, Malaysia 11. Public Bank Berhad
Tel. : +603 2084 9000 12. Siam Commercial Bank
Chua Siew Chuan
Fax : +603 2094 9940 Public Company Limited
SSM PC No.: 201908002648
+603 2095 0292 13. Standard Chartered Bank
MAICSA No.: 0777689
Email : info@sshsb.com.my Malaysia Berhad
14. Sumitomo Mitsui Banking
Chin Mun Yee
Corporation Malaysia Berhad
SSM PC No.: 201908002785
15. United Overseas Bank
MAICSA No.: 7019243
SHARE TRANSFER AGENT (Malaysia) Berhad
IN SINGAPORE 16. Mizuho Bank Ltd. Ho Chi Minh 9 10 11 12
Lim Keat See
City Branch
SSM PC No.: 201908001159 Boardroom Corporate & Advisory
MAICSA No.: 7020290 Services Pte. Ltd.
Tel. : +603 3362 3098 50 Raffles Place
Email : kslim@topglove.com.my #32-01 Singapore Land Tower
Singapore 048623
Tel. : +65 6536 5355
Fax : +65 6438 8710
Email : SRS.TeamC@boardroomlimited.com
1 Tan Sri Dr Lim Wee Chai 5 Lim Hooi Sin 9 Sharmila Sekarajasekaran
2 Dato’ Lee Kim Meow 6 Lim Cheong Guan 10 Datuk Dr. Norma Mansor
3 Dato’ Lim Han Boon 7 Puan Sri Tong Siew Bee 11 Azrina Arshad
4 Tan Sri Rainer Althoff 8 Datuk Noripah Kamso 12 Lim Andy

OUR PILLARS OF TRUST
BOARD OF DIRECTORS BOARD OF DIRECTORS
TAN SRI DR LIM WEE CHAI DATO’ LEE KIM MEOW

EXECUTIVE CHAIRMAN MANAGING DIRECTOR
Nationality Malaysian Nationality Malaysian
Age/Gender 63/Male Age/Gender 62/Male
Date of 4 September 2000 Date of

15 October 2003
Appointment (Founder) Appointment
Length of Service 21 years Date of Re-designation

7 April 2009
(as at 12 November 2021) 2 months as Managing Director
Date of Last Length of Service

8 January 2020 18 years
Re-election (as at 12 November 2021)
Date of Last
8 January 2019
Re-election
Board Committee(s) Present Appointment(s): Board Committee(s) Present Appointment(s):

(as at 12 November 2021): • President Emeritus since 2019 and Council Member of the Federation of (as at 12 November 2021): • Trustee of MARGMA Foundation since 2015
Malaysian Manufacturers since 2010
ESOSC ESGPC Nil • Chairman of the Asean Rubber Glove Manufacturers Association (ARGMA)
• Honorary President of the Associated Chinese Chambers of Commerce and
Industry of Malaysia (ACCCIM) since 2017 since 2013
Qualifications: Qualifications:
• Bachelor of Science Degree in Physics • Life Honorary Advisor of the Federation of Chinese Associations Malaysia since • Council Member of the Klang Chinese Chamber of Commerce & Industry
with Honours from University of Malaya, 2011 • Bachelor of Law Degree from (KCCCI) since 2018
Malaysia, 1982 • Chairman in 2019 and Non-Independent Non-Executive Director of Tropicana University of London, United
• Master of Business Administration from Corporation Berhad since 2017
Sul Ross State University, Texas, United Kingdom, 1991 Past Appointment(s) and Working Experience:
• Life Honorary President of the Federation of Hokkien Associations of Malaysia
States of America, 1985 since 2017 • Bachelor of Commerce Degree Prior to joining Top Glove in 1997, Dato’ Lee has more than fifteen (15)
• Doctor of Philosophy in Management from
University of Selangor, Malaysia, 2015 • Honorary President of the Kuala Lumpur and Selangor Chinese Chamber of from University of New South years of experience in the financial services, trading and manufacturing
• Honorary Doctorate in Business Commerce and Industry (KLSCCCI) since 2017 Wales, Australia majoring in business having worked in established financial institutions and with a well-
Administration from Oklahoma City • Honorary President of the Malaysia-China Chamber of Commerce since 2012 Accounting, Finance and Systems,
University, United States of America, 2016 • Honorary President of the Lim Association of Malaysia since 2018 known conglomerate with diversified interest in the ASEAN region.
• Honorary Doctorate in Entrepreneurship • Honorary Fellow of Institut Fizik Malaysia (IFM) since 2019 1983
from Management & Science University, • Tzu Chi Foundation Commissioner and Volunteer since 2017 In the past twenty-one (21) years, Dato’ Lee has been actively contributing
Malaysia, 2018 • Director of Kuen Cheng High School since 2008
• Honorary Doctor of Philosophy (PhD) Present Directorship(s): to the development of the rubber glove industry in Malaysia as well as the
Degree in Business Management from • Listed entity: ASEAN region. He has served for seventeen (17) years as a Board Member
University of Cyberjaya, Malaysia, 2020 Past Appointment(s) and Working Experience:
Tan Sri Dr Lim has been actively involved in many associations and organisations in Nil of the Malaysian Rubber Export Promotion Council (MREPC) from 2002 to
• Honorary Professor from University of
Cyberjaya, Malaysia, 2020 Malaysia. He was the Director and Board Member of the Employees Provident Fund from • Other public company: 2016 and from 2018 to 2021. He was a Board Member of the Malaysian
2015 to 2020. He was also the President of the Federation of Malaysian Manufacturers • Trustee of Top Glove Foundation Rubber Board (MRB) and the Tun Abdul Razak Research Centre (TARRC)
Present Directorship(s): (FMM) in 2016/17. He served as a Director and Board Member of University of Malaya
• Listed entity: • Trustee of Malaysian Rubber Council from 2010 to 2011 as well as a Past President of the Malaysian Rubber
from 2015 to 2018, Council Member of the East Asia Business Council (EABC) from
Tropicana Corporation Berhad Glove Manufacturers Association (MARGMA) from 2009 to 2011. He was
• Other public company: 2011 to 2015, and Director of the Association of Malaysian Medical Industries (AMMI).
Trustee of Top Glove Foundation In addition, he was a Board Member of the Malaysian Rubber Board from 1998 to also the Chairman of the Organising Committee of the International Rubber
1999 and also the President of the Malaysian Rubber Glove Manufacturers Association Glove Conference and Exhibition (IRGCE) in 2014 and 2016.
Note: He is a healthy vegetarian. (MARGMA) from 1997 to 1999. Prior to that, he served as Vice-President, Honorary
Secretary and Treasurer of MARGMA for seven (7) years.
Meeting Attendance in FY2021: Meeting Attendance in FY2021:
Family Relationship with any Director(s) and/or Substantial Shareholder(s) of
BOD the Company: BOD BRC
10/10 Spouse of Puan Sri Tong Siew Bee and brother of Mr. Lim Hooi Sin, both of whom 10/10 2/3
are Directors and indirect Substantial Shareholders of the Company. He is also the
father of Mr. Lim Jin Feng.
Board Committee Key: Board Committee Chairman BAC Board Audit Committee BSC Board Sustainability Committee ESOSC Employees’ Share Option Scheme Committee
Board Committee Member BRC Board Risk Committee BNRC Board Nomination and Remuneration Committee ESGPC Employees’ Share Grant Plan Committee

DATO’ LIM HAN BOON TAN SRI RAINER ALTHOFF

SENIOR INDEPENDENT INDEPENDENT NON-EXECUTIVE
NON-EXECUTIVE DIRECTOR DIRECTOR
(Malaysia Permanent Resident)
Nationality Malaysian
Nationality German
Age/Gender 64/Male
Age/Gender 75/Male
Date of
21 February 2011
Appointment
Date of
14 March 2013
Date of Re-designation Appointment
8 January
as Senior Independent
2019 Length of Service 8 years
Non-Executive Director
(as at 12 November 2021) 7 months
Length of Service 10 years
(as at 12 November 2021) 8 months Date of Last
6 January 2021
Re-election
Date of Last
6 January 2021
Re-election

(as at 12 November 2021): • Independent Non-Executive Director of LBS Bina Group Berhad since (as at 12 November 2021): • Member of PBEC, Pacific Basin Economic Council since 2019
August 2020 • Executive Council Member, The Economic Club of Kuala Lumpur since 2018
BAC BRC BNRC BRC • Chief Executive Officer of ALC International Sdn. Bhd., Kuala Lumpur since 2009
• Founder/Director of Envo BPO Services Sdn. Bhd.
• Member of Rotary Club Kuala Lumpur DiRaja since 2001
ESOSC ESGPC • Advisor to Outsourcing Malaysia, a Chapter of PIKOM, the National ICT Qualifications:
Association, Malaysia • Master’s Degree (Diploma) Past Appointment(s) and Working Experience:
• Board Member of Kuen Cheng High School, Kuala Lumpur in Electronics and Electrical Tan Sri Rainer has more than fifty (50) years of experience in the fields of
Qualifications:
Engineering from Bergische electrical engineering and electronics with additional knowledge in IT projects,
• Master of Business Administration
Past Appointment(s) and Working Experience: mobile internet, factory automation, sustainability, digitization and digitalisation.
Degree from the University of South University of Wuppertal,
Dato’ Lim started his career in the Chartered Accounting firm of Binder He was the President and Chief Executive Officer of Siemens Malaysia Sdn.
Australia, Australia since 2000 Germany, 1968 Bhd., Petaling Jaya for more than eleven (11) years until 2009 and also the
• Fellow of the Association of Hamlyn (now known as BDO). Subsequently, Dato’ Lim spent more than • MBA General Management from spokesperson (Board Member) of Siemens AG for all Siemens operations and
Chartered Certified Accountants, twenty (20) years in the transportation and maritime logistics industry Duke University, United States of its affiliated companies in Malaysia.
United Kingdom since 1989 having worked for Kontena Nasional Berhad, Northport (Malaysia) Berhad, America, 2000
• Chartered Accountant of the NCB Holdings Berhad as well as Kannaltec Berhad. He was the Non-Executive Chairman of Total Sports Asia Sdn. Bhd. from
Malaysian Institute of Accountants 2019 to 2020 and the (Non-Administrative) Honorary Chairman of the Brand
Present Directorship(s):
since 2001 He is also no stranger in the global business services and outsourcing Laureate World Foundation, Petaling Jaya from 2016 to 2020. He was also an
• Member of the Chartered • Listed entity:
industry having spent more than fifteen (15) years in this line, being the Independent Director of Proton Holdings Berhad, Subang Jaya from 2009 to
Management Institute, United Nil 2014, a Member of Board of Directors Group Lotus PLC from 2010 to 2011,
founder and Chairman of Envo BPO Services Sdn. Bhd. • Other public company:
Kingdom since 2006 the Chairman of Nokia Solutions and Networks Sdn. Bhd., Kuala Lumpur and
• Attended the Harvard Business Nil Chairman of Coriant Malaysia Sdn. Bhd., Kuala Lumpur.
School Alumni Club of Malaysia
Senior Management Development He was the Chairman of the Supervisory Board of Lauda Interactive AG,
Program in 2002 Darmstadt/ Germany from 2016 to 2019 and Senior Advisor for Digitalization
to T-Systems Malaysia Sdn. Bhd., Cyberjaya. He served as a Trustee of the
Present Directorship(s): Jeffrey Cheah Foundation for nine (9) years until 2019 and the Executive
• Listed entity: Chairman of RaceRoom Entertainment Sdn. Bhd for four (4) years.
LBS Bina Group Berhad
• Other public company: Tan Sri Rainer received the Honorable Cross of Merits from the President of
Germany in 2003.
Nil

BOD BAC BRC BNRC BSC BOD BRC
10/10 9/9 8/8 5/5 1/1 10/10 8/8

LIM HOOI SIN LIM CHEONG GUAN

EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR
Age/Gender 59/Male Age/Gender 56/Male
Date of Date of
4 September 2000 31 August 2006
Appointment Appointment
Length of Service 21 years Length of Service 15 years

(as at 12 November 2021) 2 months (as at 12 November 2021) 2 months
Date of Last Date of Last

8 January 2019 8 January 2020
Re-election Re-election

(as at 12 November 2021): Nil (as at 12 November 2021): • Head of the Sustainability Steering Group since 2019
Nil • Chairman of the Risk Management Committee since 2014
ESOSC ESGPC
Past Appointment(s) and Working Experience: • Advisor to the Administrative Committee of Top Glove Foundation since
Qualifications: Mr. Lim Hooi Sin spent fourteen (14) years of his career with MetLife 2008
Qualifications:
• Charter Financial Consultant Financial Services, one of the largest insurance and financial services • Member of Malaysian Institute of
Diploma from American College, companies in the USA. Prior to this appointment, he was a Management Past Appointment(s) and Working Experience:
Certified Public Accountants since
Pennsylvania, United States of Trainee, Associate Branch Manager, Regional Marketing Specialist, Agency Mr. Lim Cheong Guan began his career as a Graduate Audit Trainee with
1994
America, 1995 Director and a Director of Asian Markets. His experiences include product Price Waterhouse (now known as PricewaterhouseCoopers) in April 1990 and
• Member of Malaysian Institute of
• Master’s Degree in Business development, marketing, recruiting, training and supervision of a large subsequently held various key positions in a number of public listed companies
Accountants since 1993
Administration (Specialised in highly productive sales force. He was previously a Director of AAAA (Arizona in Malaysia whose business activities spanned over manufacturing, plantation,
• Bachelor’s Degree in Accounting,
Applied Statistics) from Arizona Asian American Association). trading and property development.
University of Malaya, Malaysia, 1990
State University, United States of
America, 1986 He has more than twenty (20) years of experience in the USA glove market, He was the Assistant Group Accountant of Timbermaster Industries Berhad
Present Directorship(s):
• Bachelor of Science Degree having been the founder of TG Medical (U.S.A.), Inc. (a wholly-owned (now known as Leweko Resources Berhad) from May 1996 to June 1999
• Listed entity:
in Management Science from subsidiary of the Company) in 1994 and served as its Executive Vice Nil and the Financial Controller of Tanah Emas Corporation Berhad (now known
Oklahoma State University, United President from 2001 to 2005 and President since 2005. He is also the • Other public company: as Golden Land Berhad) from June 1999 to July 2004.
States of America, 1985 Administrator (President) of Kevenoll Do Brasil (a wholly-owned subsidiary Nil
of the Company since 2019) and sits on the Board of several private limited
Present Directorship(s): companies.
• Listed entity:
Nil Family Relationship with any Director(s) and/or Substantial
• Other public company: Shareholder(s) of the Company:
Nil
Brother of Tan Sri Dr Lim Wee Chai and brother-in-law of Puan Sri Tong
Siew Bee, both of whom are Directors and Substantial Shareholders of the
Company.

BOD BOD BRC
10/10 10/10 3/3

PUAN SRI TONG SIEW BEE DATUK NORIPAH KAMSO

NON-INDEPENDENT INDEPENDENT NON-EXECUTIVE
NON-EXECUTIVE DIRECTOR DIRECTOR
Age/Gender 63/Female Age/Gender 64/Female
Date of 4 September 2000 Date of

18 March 2015
Appointment (Co-Founder) Appointment



(as at 12 November 2021): • Deputy Chief Executive Officer of Tzu Chi Foundation Malaysia (as at 12 November 2021): • International Advisory Board of Islamic Finance News (IFN)
• Corporate Advisor of Pantas Software Sdn Bhd
BSC BRC BAC BSC
Past Appointment(s) and Working Experience:
Puan Sri Tong has more than ten (10) years of experience working in the ESOSC ESGPC Past Appointment(s) and Working Experience:
Qualifications: Datuk Noripah began her career with Urban Development Authority (UDA) in
• Master of Business Administration banking industry in the information technology field.
1980. In 1983, she joined Bank of Commerce (M) Berhad (CIMB Group) and
from Sul Ross State University, Qualifications: held various key positions in the CIMB Group until 2014 where her last position
Texas, United States of America, She was the System and Methods Officer and Analyst Programmer of • Master of Business Administration was as Advisor to CIMB Group Islamic Banking Division. She was formerly an
1985 United Overseas Bank Berhad from 1990 to 1995 and joined Utama Bank from Marshall University, Adjunct Professor to School of Economics, Finance and Banking, UUM and
• Bachelor of Science Degree with Berhad from 1995 to 1998 in the retail banking system. Huntington, West Virginia, United the Board of Trustees of the International Council of Islamic Finance Educators
Honours in Computer Science from States of America, 1981 (ICIFE).
University of Science, Malaysia, Family Relationship with any Director(s) and/or Substantial • Bachelor of Science Degree from
Shareholder(s) of the Company: Northern Illinois University, Dekalb, She was the Chief Executive Officer of CIMB Futures Sdn. Bhd. from 1996
1983
Illinois, United States of America, to 2012, the Chief Executive Officer of CIMB Principal Asset Management
Spouse of Tan Sri Dr Lim Wee Chai and sister-in-law of Mr. Lim Hooi Sin, Berhad from 2005 to 2013. She was the founding Chief Executive Officer of
Present Directorship(s): 1980
both of whom are Directors and Substantial Shareholders of the Company. CIMB Principal Islamic Asset Management Sdn. Bhd. from 2008 to 2012 where
• Listed entity: • Diploma in Business Studies,
She is also the mother of Mr. Lim Jin Feng. she successfully established a global platform for the firm to extend its reach
Nil Institute Technology MARA, to UK, Europe, GCC, Asia, USA and Australia. Datuk Noripah was a former
• Other public company: Malaysia, 1978 Advisor of CIMB Islamic from 2013 to 2014.
Trustee of Yayasan Pendidikan
Tzu Chi Malaysia Present Directorship(s): Datuk Noripah was also the Past President of the Malaysian Futures Brokers
• Listed entity: Association (MFBA). She was formerly a Global Practitioner in Residence in
Nil Principal Financial Group Centre for Global Citizenship, USA in 2015. In the
• Other public company: academic year 2016/2017, she was a Fellow in Islamic Finance in Oxford
Swift Haulage Berhad Center for Islamic Studies (OCIS), an independent centre of the University of
Oxford, United Kingdom and was an Adjunct Professor for Faculty of Business
Management, UiTM. She was the Chairman of Bank Kerjasama Rakyat
Malaysia (being one of the Top 10 largest Islamic Banks in the world) and the
Chairman of Yayasan Bank Rakyat from 2018 to 2020.

BOD BSC BOD BRC BAC BSC BNRC
10/10 4/5 10/10 8/8 7/9 5/5 1/1

SHARMILA SEKARAJASEKARAN DATUK DR. NORMA MANSOR

INDEPENDENT NON-EXECUTIVE INDEPENDENT NON-EXECUTIVE
DIRECTOR DIRECTOR
Age/Gender 52/Female Age/Gender 64/Female
Date of Date of
18 March 2015 12 May 2017



(as at 12 November 2021): • Consultant in the Legal, Operations and Industry Development Departments (as at 12 November 2021): • Director of Yayasan MEA
of the RIM Group. • President of Malaysian Economic Association
BSC BAC BNRC BNRC BRC ESOSC
• Partner of Jerald Gomez & Associates since 2011, areas of practice are • Director of Social Wellbeing Research Centre of University of Malaya
ESOSC ESGPC Intellectual Property, Banking Litigation, Corporate Advisory, Estate Claims ESGPC
and Family Law matters. Past Appointment(s) and Working Experience:
Qualifications: Qualifications: Datuk Norma was a professor at the Faculty of Economics and
• Barrister-At-Law, Middle Temple, Past Appointment(s) and Working Experience: • Doctor of Philosophy (PhD) from Administration of University of Malaya from 2000 to 2017. She held the
United Kingdom since 1996 Ms. Sharmila began her career as a legal assistant in 1998 with Messrs. University of Liverpool, 1985 position as the Executive Director of International Institute of Public Policy
• Advocate & Solicitor, High Court of Chooi & Co., and joined Messrs. Tay & Partners as a Senior Legal Assistant • Master of Public Administration and Management from 2001 to 2004 and was subsequently appointed as
Malaya, Malaysia since 1998 in the Intellectual Property Department in 2004. (MPA) from University of Liverpool, Dean of the Faculty of Economics and Administration from 2004 to 2009.
• B.A. Law & Economics (Honours), 1981
Keele University, United Kingdom, She joined the RIM Group in 2005 and held various positions in the RIM • Bachelor of Economics (Honours) Her past appointment includes the Ragnar Nurkse Visiting Professor of the
1993 Group. Degree from University of Malaya, School of Innovation and Governance at Talinn University of Technology in
• Adjucator, Asian International 1980 Estonia in 2014. She was also seconded to the Prime Minister’s Department
Arbitration Centre (Malaysia) as Secretary to the National Economic Advisory Council (NEAC) from 2009
(formerly Kuala Lumpur Regional Present Directorship(s): to 2011.
Centre for Arbitration) • Listed entity:
Nil
Present Directorship(s): • Other public company:
• Listed entity: Nil
Kumpulan Perangsang Selangor
Berhad
• Other public company:
Nil

BOD BSC BAC BNRC BOD BNRC BRC
10/10 5/5 9/9 5/5 10/10 5/5 8/8

AZRINA ARSHAD LIM ANDY

INDEPENDENT NON-EXECUTIVE INDEPENDENT NON-EXECUTIVE
DIRECTOR DIRECTOR
Nationality Malaysian Nationality Singaporean
Age/Gender 52/Female Age/Gender 64/Male
Date of Date of
Length of Service 2 years Length of Service 1 year



(as at 12 November 2021): • Project Director of Zalaraz Sdn. Bhd. (as at 12 November 2021): • Honorary Consul General to the Republic of Lithuania in Singapore.
• Director and Partner of I-Partnership (M) Sdn. Bhd. (formerly known as Nil • Founder and Chairman of private equity firm Tembusu Partners Pte. Ltd.
BAC BSC BNRC
Woods Bagot (M) Sdn. Bhd.) since 1997 • Chairman of Viking Offshore & Marine Ltd., a public listed company in
Qualifications: • Freelance Project Architect & Project Manager of FOCUS Architects and Qualifications: Singapore.
• Post Graduate Diploma in Urban Planners Sdn. Bhd. • Master’s Degree in Business • Executive Director of Associated Leisure International Pte. Ltd., a family
Architecture (LAM, PAM, RIBA Administration, University of holding company.
Part II), Oxford Brookes University, Past Appointment(s) and Working Experience: California at Los Angeles, 1989 • Chairman of MoneyWorld group of companies, a leading foreign
United Kingdom, 1992 Puan Azrina started her career in 1993 as an Assistant Architect in • Bachelor’s Degree in Engineering, exchange player with offices in China, Hong Kong and Singapore.
• Diploma in Architecture (LAM, Arca-3 Arkitek Sdn. Bhd., Kuala Lumpur and thereafter worked in various University of Cambridge, United
PAM, RIBA Part I), Universiti Institut capacities in several architectural firms such as FOCUS Architects and Kingdom (First Class Honours), Past Appointment(s) and Working Experience:
Teknologi MARA, Malaysia, 1990 Urban Planners Sdn. Bhd. in Selangor. She was also a part-time lecturer in 1979 Mr. Lim Andy’s past board appointments include President of the Enterprise
Universiti Technology Malaysia (UTM) in year 1994. 50 Association, Board of Trustee of Honour (Singapore) Limited, Chairman
Present Directorship(s): Present Directorship(s): of Alpha Singapore and Council Member of the National Council Against
• Listed entity: Puan Azrina was appointed as a Non-Independent and Non-Executive • Listed entity: Drug Abuse (NCADA). He was a member of the Board of Trustees of the
Nil Director of Sanichi Technology Berhad from January 2010 to August 2011. Nil Home Affairs Uniformed Services (HUS) INVEST Fund till 30 June 2021.
• Other public company: She was the Founder and Director of the Teapot Café Sdn. Bhd. from 1996 • Other public company:
Trustee of Yayasan Arshad Ayub to 2012 and the Teapot Deli since 11 February 2016. She has given talks Nil
organised by the American Hardwood Export Council in Guangzhou and
Chengdu in 2005.
Meeting Attendance in FY2021:

BOD
10/10
Note:
Meeting Attendance in FY2021:
Save as disclosed, all other Directors have no family relationship with any Director(s) and/or Substantial Shareholder(s)
BOD BAC BSC BNRC of the Company, have no conflict of interest with the Company, have not been convicted of any offence within the past
10/10 9/9 5/5 4/4 5 years other than traffic offences, if any, and have no public sanction or penalty imposed by the relevant regulatory
bodies during the financial year.

AN EMPOWERED BOARD EXECUTIVE COMMITTEE
The Executive Committee is headed by the Executive Chairman, Tan Sri Dr Lim Wee Chai and consist of the following
LENGTH OF TENURE The current composition of Board Members comprised key senior management:
(AS AT 12 NOVEMBER 2021) appropriate mix of Skills and Experience as follows:
Board
6 6 Current Board Skillset Average
Rating
Group Chief Executive Officer /

1. Managing Director
75%
2. Corporate governance, risk management

and internal controls
Up to 9 years More than 9 years
73%
3. Accounting and financial reporting

NATIONALITY 70%
4. Other corporate experience

10
70%
Standing Melissa Cheoh Hooi Gaik, Wong Chong Ban, Lim Cheong Guan, Lim Hooi Sin, Ng Yong Lin,
5. Sustainability (From Left to Right): Lew Sin Chiang, Hue Kon Fah, Aaron Lam Yat Hing
67%
Seated (From Left to Right): Tan Sri Dr Lim Wee Chai, Dato’ Lee Kim Meow
2 6. Human capital or talent management
67% Please refer to pages 16, 17, 20 and 21 of this Integrated Annual Report for the profiles of Tan Sri Dr Lim Wee Chai, Dato' Lee Kim Meow, Lim Hooi Sin and Lim Cheong Guan.
7. International or regional business experience

MELISSA CHEOH HOOI GAIK WONG CHONG BAN NG YONG LIN
Malaysian Foreigner 67% Director, Financial Controller Chief Operating Officer, Chief Operating Officer,
Joint Manufacturing Council Joint Manufacturing Council
8. Operations and Quality Management
Nationality: Age/ Gender: Nationality: Age/ Gender: Nationality: Age/ Gender:
65% Malaysian 36/ Male
COMPOSITION Malaysian 48/ Female Malaysian 49/ Male
9. Industry experience Qualification(s): Qualification(s): Qualification(s):
MBA (London), International Business Bachelor of Science, Chemistry Bachelor of Engineering, Computer Aided
7 62% Design/ Manufacturing
Experience: Experience:
4 10. Information technology or digital strategy More than 25 years of experience in the More than 20 years of experience in the Experience:
banking and finance industry glove manufacturing industry More than 10 years of experience in the
62% glove manufacturing industry
1 11. Legal and regulatory
Date of Appointment: Date of Appointment:
Date of Appointment:
15 May 2019 9 March 1998 1 June 2009
60%
12. Public sector or governmental body experience LEW SIN CHIANG HUE KON FAH AARON LAM YAT HING
Senior General Manager, Executive Director (Subsidiary), Senior General Manager, Marketing
ED NINED INED 60% Joint Manufacturing Council Joint Manufacturing Council
Nationality: Age/ Gender: Nationality: Age/ Gender: Nationality: Age/ Gender:

Malaysian 48/ Male Malaysian 64/ Male Malaysian 55/ Male
Qualification(s): Qualification(s): Qualification(s):
GENDER ETHNICITY AGE Bachelor of Science, Industrial Chemistry BA (Honours) Economics, MMIM, DPRIM Diploma in Material Engineering
Female Male Chinese Indian 50 to 59 70 & above Experience: Experience: Experience:
More than 20 years of experience in the More than 38 years of experience in the More than 20 years of experience in the
Malay Others 60 to 69 glove manufacturing industry manufacturing field marketing field
Date of Appointment: Date of Appointment: Date of Appointment:
1 1 16 March 1998
1 Note:
3 Mr. Lew is the brother-in-law of both Tan Sri
5 4 Dr Lim Wee Chai and Puan Sri Tong Siew Bee.
7 1. any directorship in public companies and 4. any conviction for offences (other
7 listed issuers; than traffic offences) within the
7 Notes: 2. any family relationship with any directors past five (5) years; and
Save as disclosed in the profile of and/or major shareholders of the 5. any public sanction or penalty
Board of Directors and above, none Company; imposed by the relevant regulatory
of the key senior management has: 3. any conflict of interest with the Company; bodies during the financial year.

SENIOR MANAGEMENT TEAM SENIOR MANAGEMENT TEAM
Hue Kon Fah Ng Yong Lin Melissa Cheoh Hooi Gaik Wong Chong Ban Noraziah Mahmud Jeremy Liew Say Keong Lew Sin Chiang John Wu Kin Yeap
Executive Director (Subsidiary), Chief Operating Officer, Director, Financial Controller Chief Operating Officer, Senior General Manager, Senior General Manager, Senior General Manager, Senior General Manager,
Joint Manufacturing Council Joint Manufacturing Council Joint Manufacturing Council Marketing Finance Joint Manufacturing Council Manufacturing
Aaron Lam Yat Hing Chookiad Usaha Michelle Ang Peck Kean Leong Chew Mun Ken Soo Lim Hwa Chuan Johnny Loy Joo Ling Matthew Ong Guan Heng
Senior General Manager, Senior General Manager, General Manager, Senior General Manager, Senior General Manager Senior General Manager, Senior General Manager, Senior General Manager,
Marketing Manufacturing Sourcing & Procurement Marketing cum Assistant to Chairman Joint Manufacturing Council Marketing Compliance
Tan Kian Guan Lee Shin Hwai Apple Lau Wan Peng Ong Ah Chye Loo Sun Nooi Ravi A/L Supramaniam Tan Chee Hoong Puon Tuck Seng
General Manager, General Manager, General Manager, General Manager, General Manager, General Manager, General Manager, General Manager,
Information Technology Manufacturing Marketing Manufacturing Group Quality Assurance Manufacturing Manufacturing Operation Audit
Dorothy Ressel Noor Akilah Saidin Jack Lim Lung Fui Loke Kean Mun Stephanie Thong Pei Ling Dr. Kiwi Lim Keuw Wei Chang Chee Keong Chong Fei Meng
V.P. Global Marketing & Sales, General Manager, General Manager, General Manager, General Manager, General Manager, General Manager, General Manager,
Member of the Management Board Regulatory Affairs System & Internal Audit Group Human Resources Property & Leasing Research & Development Tax Marketing
Conformance and Corporate Integrity
Ng Seow Wei Wilawan Sakulsongboonsiri Yorck von Kries Kelvin Lee Kok Seng Kassy Lim Keat See Florence Teng Gaik Kim Phattaraporn Fueangthong
Deputy General Manager, Deputy General Manager, Chen Chew Lan General Manager, General Manager, Deputy General Manager, General Manager, Deputy General Manager,
Manufacturing Finance General Manager, Marketing Manufacturing Corporate Services Logistics & PM Purchasing Finance
Finance
Lim Jin Feng Tan Lee Sem Aileen Choh Ai Ying Michelle Voon Wei-Ann Siah Ming Lei Thomas Buri Chia Hock Yi Mansor Bin Daud
Deputy General Manager, Deputy General Manager, Vice President, Deputy General Manager, Senior Manager, National Sales Manager Deputy General Manager, Deputy General Manager,
Marketing Marketing Marketing Corporate Communications Marketing Engineering Engineering

MESSAGE FROM OUR LEADERS
IN CONVERSATION WITH THE EXECUTIVE CHAIRMAN IN CONVERSATION WITH THE EXECUTIVE CHAIRMAN
TAN SRI DR LIM WEE CHAI
The financial year 2021 has been a rewarding and also challenging time for Top
Q1 FY2021 was a landmark year with unsurpassed financial results and Top Glove has expressed
Glove, the world’s largest manufacturer of gloves. Its Founder and Executive
the desire to share its success with stakeholders. How was this achieved?
Chairman, Tan Sri Dr Lim Wee Chai is no stranger to both the peaks and valleys of
doing business, and more importantly, has an admirable track record of successfully
Our commitment to create value for all our
steering his company through the most difficult periods to emerge stronger. As
stakeholders is something we will not waver
the company marks its 30 th anniversary this 2021, Tan Sri shares his thoughts on on, in good and trying times. In a year as
the financial year that was, as well as his outlook for a post pandemic, post WRO extraordinary as FY2021, we are very pleased
to have been in a position to contribute
era, answering some of the most pressing questions of the day with his signature positively and more generously in different
frankness, honesty and transparency. ways to our many stakeholders.
Towards rewarding our public shareholders

and investors, we were delighted to increase
the frequency of our dividend payments from
a semi annual basis to a quarterly basis, in
addition to which we also declared a special
dividend of 20% over and above the normal
dividend paid out, which is 50% in line with our
Dividend Policy. The total dividend for FY2021
amounted to approximately RM5.2 billion or
65.1 sen per share.
In challenging times as these, we were

privileged to contribute RM2.2 billion in
corporate income tax. This is our contribution
towards nation building and promoting
sustainable economic growth. We were also
able to extend our support to communities in
need, contributing RM191 million in FY2021.
Amongst the causes we had the honour of
supporting were the Malaysia COVID fund
launched by the Government of Malaysia and
a community food aid initiative called Lend A
Hand (LAH). In addition, we donated gloves, In addition, we also invested in strengthening our Environmental,
face masks, hand sanitisers and oxygen Social and Governance (ESG) initiatives while creating reserves
concentrator devices in Malaysia and abroad. to insulate our business and ensure we remain sustainable and
well positioned to continue contributing positively.
Our ongoing expansion plans also enabled
us to continue providing gainful employment,
thus narrowing the country’s unemployment
gap as a result of the pandemic. In FY2021, The total dividend for
we recruited 9,720 new hires, close to 3,000 of
whom were Malaysian Technical and Vocational
FY2021 amounted to
Education and Training (TVET) graduates and approximately RM5.2 billion
skilled workers as we further automate and
digitalise our operations. or 65.1 sen per share.

TAN SRI DR LIM WEE CHAI TAN SRI DR LIM WEE CHAI
Q2 With the softening of glove demand and ASPs (average selling prices), what are Top Glove’s Q4 On 10th September 2021, the Withhold Release Order (WRO)/Finding imposed by the U.S. Customs
plans to mitigate the effects and how do you view industry prospects going forward? and Border Protection (CBP) on disposable gloves made by Top Glove’s facilities in Malaysia was
lifted/modified after 14 months. How does it feel? How has the experience impacted Top Glove and
what changes have been put in place since? What are your immediate priorities going forward?
We have gone through several cycles comprising was already growing steadily pre pandemic at a rate of 10%
both good and challenging times, since we started per annum and is likely to stabilise at a higher level even
the business 30 years ago. We are heartened that after the pandemic recedes owing to elevated awareness We are very pleased that our concerted efforts to improve However, our journey is far from over. The immediate
while good times do not last, neither do tough times. and hygiene levels. have resulted in the Modification of the Finding and look task ahead is to recover lost ground as a result of the
Moreover, our strong foundation which has been forward to resuming delivery of our gloves to the U.S., inability to export to the USA. We will need to gain back
built over the last 3 decades, will enable us to take Naturally, factors such as demand and selling prices are especially to medical frontliners and first responders, customers and market share, and rebuild trust with our
on challenges and overcome them one by one. external factors beyond our control. We cannot and do not towards protecting their health and safety during these stakeholders which we are working hard towards.
depend on these to perform well. In order to perform well extraordinary times.
With technological advances and the speed at which sustainably and offer value add to our stakeholders, we
We will continue to pursue our dual primary listing on the
information travels now, business cycles change very focus on internal factors which are within our control such
Our journey over the past 14 months has been a deeply Hong Kong Stock Exchange (HKEX). The resubmission of
quickly, with each business cycle lasting for 1 to 3 years as quality and efficiency. Most importantly, I believe our
meaningful one from which we have emerged a better our A1 application was made on 28 October 2021 and we
only. The challenge and opportunity for businesses now foundation must be strong and built on our “3 Healths”:
is to be adaptable to the rapidly changing environment. Mental Health, Physical Health and Financial Health. and stronger Top Glove. It has been challenging at look forward to updating you on our progress in due course.
When these factors are in place, we are well positioned to times, but we view the experience positively and as an Longer term, sustainability will continue to rank high on our
The softening demand and ASPs was not unexpected weather tough times and outlast any challenge. opportunity to strengthen our ongoing ESG initiatives. business agenda and we will keep improving our efforts
and we had prepared for it by creating reserves during Following this, we are pleased that in January 2021, our in this very significant area to make our ESG practices,
the period of strong growth. Of course, we continue to operations were verified by an independent third party especially our labour practices even more robust.
monitor the changing landscape and will respond and Mental Health international U.K. consultant to be free of systemic
align our strategy and production accordingly. That
being said, demand for gloves as an essential item in 3 Physical Health
forced labour. In April 2021, Top Glove had completed
remediation payments of some RM150 million to over
In January 2021 our operations
the healthcare sector is driven by strong market needs Healths 13,000 migrant workers who had paid recruitment fees were verified by an independent
and this continues to grow steadily, albeit not as rapidly
as during the height of the pandemic. Glove demand
Financial Health and related costs to recruitment agents. Top Glove also third party international
made substantial investments to improve employee
accommodations and implemented an independently
U.K. consultant to be free of
managed employee grievance helpline. systemic forced labour.
Q3 Are you concerned about the intensifying competition both on the Malaysian and international fronts?
All businesses face competition, especially international In any case, Top Glove has several advantages which Top Glove’s share price has seen a sharp and rapid decline from its peak of close to RM9.50 per
business. We are a global public listed company and cannot gives us an edge over our competitors in the long term. Q5
share just a year ago. What are your comments on this development to your shareholders?
expect to be free of competition. The strength of our business We offer a highly diversified glove range comprising
locally and globally vis a vis competition that arises will be nitrile, natural rubber, vinyl and surgical gloves, and are
key to attracting investment and investors. Notwithstanding, also geographically diverse in terms of our customer
We are deeply committed to creating sustainable value
we are of course mindful that the glove business has been a and manufacturing base. Our production capacity of
for our shareholders. This is why we always encourage
very attractive industry to be in, particularly during a pandemic 100 billion gloves per annum, the largest amongst
our investors to take a long term view to investing in
when there is a surge in glove usage. In such an environment, all glove manufacturers globally, also positions us to
we expect competition to intensify and new players to emerge. accommodate large orders from distributors. Most Top Glove and not to focus on share price as the sole
significantly, we have a team of talented people, which indicator. While the future is unpredictable, we believe
We welcome healthy competition as it makes us and includes a strong R&D team and customer centric our past performance is a helpful indicator of the
the industry more efficient, edging out weaker practices Marketing personnel. resilience of our company. For the past 20 years since
and enhancing both performance and players. This also our listing on Bursa Malaysia, we have successfully
presents M&A opportunities for us. Competition is an external factor which is not within our delivered a CAGR (Compound Annual Growth Rate) of
control. However, we continue to plan and strategise 27% for Revenue and 36% for Profit, reflective of the
However, global glove demand is expanding and still internally, so we are able to withstand headwinds when glove industry’s strong fundamentals and solid long
growing yearly even in a post pandemic era from they come. I believe that with our Business Direction term potential. We also have a good track record of
heightened health and hygiene awareness. Following this, of producing high quality gloves at an efficient low
delivering total shareholders return of approximately
we believe that the increase in demand will be sufficient to cost and focus on staying healthy, we will successfully
22,200%, over the last 20 years since our listing as at
absorb the surplus in supply. Any oversupply and pricing mitigate and navigate any period of oversupply, just as
31 August 2021.
pressure would be temporary. we have done before.

Q7 Your Board has come under heavy criticism by some investors, with a few institutional investors
voting against the reelection of six independent directors at Top Glove’s AGM in January 2021.
What has changed since then in terms of Board oversight and involvement?
I am proud of our Board. This Our IDs’ hands on involvement is exemplary, going above and beyond
has been a challenging time for governance requirements, including providing guidance on various important
them and they have continued to matters such as the CBP WRO/Finding before it was lifted/modified,
discharge their duties responsibly, management of COVID cases, compliance with Akta 446 (Malaysia’s local
performing with grace under fire. workers accommodation regulations), instituting a more structured Share
Buyback Scheme, as well as visits to our onsite vaccination centre and
The Board including our employee hostels where they engaged directly with our factory employees.
Independent Directors (IDs), Moreover, they have been instrumental in setting the vision and strategic
Top Glove has invested in solar power projects towards reducing carbon emissions meets regularly to discuss the direction of Top Glove for the years ahead through scenario and crisis
company’s key issues, and analysis and planning. In addition, our IDs frequently participated in
has been particularly active in engagements with external bodies, such as the Human Rights Commission
Q6 You have declared 2021 The Year of ESG (Environmental, Social & Governance) for Top Glove. engaging with management and of Malaysia (SUHAKAM) and various climate change subject matter experts
Shouldn’t every year be The Year of ESG especially for a large company like Top Glove? What employees on issues relating to to discuss net zero target setting.
is so different about this year? risk management, audit, ESG as
well as human resources. Since
It is true that every year and every day must be an ESG our business. More significantly, from financial year 2021 March 2021, our IDs have also
year or day. Top Glove has a theme for each year which onwards, 40% of Group KPIs are linked to ESG metrics held quarterly engagements with
is selected based on a particular area of importance for the Top 5 key focus areas, which include Product worker representatives to better
which we want to focus on. However, this does not Quality and Safety, Occupational Health and Safety, understand issues faced and
mean we will not be focusing on ESG after 2021 is Talent Retention, Human Rights and Labour Practices to provide support and counsel
over. In fact, we have declared 2021 The Year of ESG, and Carbon Emission Reduction. for concerns raised. They have
marking the start of greater efforts to come, with the also taken an active role in
commitment that henceforth ESG considerations will ensuring facilities provided for our
be central to our business. employees comply with all market
Carbon Product
jurisdiction requirements, including
Emission Quality and
aligning our business principles to
Reduction Safety
the Business and Human Rights
agenda.
TOP
Environmental Social Governance
5
Top Glove’s Directors visited the workers’ hostel in Banting
As an international company, sustainability has always KEY FOCUS

Human
been at the heart of our business and investing our
Rights and
AREAS Occupational The Board including our Independent Directors (IDs),
resources towards safeguarding the environment,
advancing ethical business, building communities and
Labour
Health and
Safety
meets regularly to discuss the company’s key issues,
impacting lives positively has been our priority, year
Practices
and has been particularly active in engaging with
after year. Reflecting the growing prominence of ESG Talent
Retention
management and employees on issues relating to risk
globally, we declared 2021 to be Top Glove’s Year of
ESG to create stronger awareness internally at all levels,
management, audit, ESG as well as human resources.
enabling a sharper company wide focus on this very
important area. We know there is always more we can do and will
keep improving our ESG practices so that we continue
Profit should not come at the expense of people or planet to deliver excellence not just as a business but as a
and we are ensuring our systems and processes enable corporate citizen, in line with our commitment to doing Footnotes:
sustainability to be well integrated into every aspect of well by doing good, beyond The Year of ESG. Read more about our commitment to ESG in the section titled Creating Sustainable Value on page 88.

PERBUALAN BERSAMA PENGERUSI EKSEKUTIF PERBUALAN BERSAMA PENGERUSI EKSEKUTIF

Tahun kewangan 2021 merupakan masa yang bermanfaat dan mencabar bagi
Q1 TK2021 adalah tahun luar biasa dengan keputusan kewangan yang tidak dijangka dan Top
Top Glove, pengeluar sarung tangan terbesar di dunia. Pengasas dan Pengerusi
Glove telah menyatakan hasrat untuk berkongsi kejayaannya dengan pihak berkepentingan.
Eksekutif, Tan Sri Dr Lim Wee Chai tidak asing lagi dengan puncak dan lembah Bagaimanakah ini tercapai?
perniagaan, dan yang lebih penting, mempunyai rekod prestasi yang mengagumkan
kerana berjaya membawa syarikatnya melalui tempoh yang paling sukar untuk
muncul lebih kuat lagi. Seketika syarikat menandakan ulang tahun ke-30 pada tahun
2021 ini, Tan Sri mengkongsikan pendapatnya mengenai tahun kewangan yang lalu
dan juga prospek pasca pandemik, pasca era WRO, dan menjawab beberapa soalan
penting dengan kejujuran dan ketelusan.
Sumbangan tanaman untuk menghijaukan persekitaran Tapak Semaian Majlis Perbandaran Klang
Komitmen kami untuk menciptakan nilai bagi semua Hand (LAH). Selain itu, kami menyumbangkan sarung
pihak berkepentingan adalah sesuatu yang kami tidak tangan, pelitup muka, cecair pembasmi kuman dan alat
akan abaikan, pada masa yang senang ataupun susah. penularan oksigen di Malaysia dan luar negara.
Bagi tahun yang luar biasa seperti TK2021, kami amat
berbesar hati untuk berada dalam kedudukan untuk Pelan pengembangan syarikat yang berterusan
menyumbang secara positif dan lebih murah hati kepada juga membolehkan kami menyediakan peluang
pelbagai pihak berkepentingan kami. pekerjaan secara berterusan, lalu mengurangkan
jurang pengangguran negara akibat pandemik ini.
Sebagai penghargaan kepada para pemegang Pada TK2021, kami mengambil 9,720 pekerja baru,
saham dan pelabur awam kami, kami gembira untuk hampir 3,000 daripadanya adalah graduan Pendidikan
meningkatkan kekerapan pembayaran dividen daripada dan Latihan Teknikal dan Vokasional Malaysia (TVET)
setengah tahunan kepada suku tahunan, di samping dan pekerja mahir sambil mengautomasikan dan
mengisytiharkan dividen khas sebanyak 20% sebagai mendigitalkan operasi kami.
tambahan kepada dividen biasa, iaitu 50% sejajar
dengan dasar dividen kami. Jumlah dividen bagi TK2021 Malah, kami juga melabur dalam mengukuhkan inisiatif
berjumlah sekitar RM5.2 bilion atau 65.1 sen sesaham. Alam Sekitar, Sosial & Tadbir Urus (ESG) kami lalu
menciptakan simpanan untuk melindungi perniagaan
Dalam masa yang mencabar seperti ini, kami juga dan memastikan kami kekal mampan dan berada dalam
berbesar hati untuk menyumbang RM2.2 bilion cukai kedudukan yang baik untuk terus menyumbang secara
pendapatan korporat. Ini adalah sumbangan kami positif.
terhadap pembangunan negara dan mendorong
pertumbuhan ekonomi yang mampan. Kami juga
dapat menghulurkan sokongan kepada komuniti Jumlah dividen bagi
yang berkeperluan, menyumbang RM191 juta pada
TK2021. Diantara program yang kami berasa terhormat
TK2021 berjumlah
untuk menyokong adalah Tabung COVID Malaysia
yang dilancarkan oleh Kerajaan Malaysia dan inisiatif
sekitar RM5.2 bilion
bantuan makanan masyarakat yang dipanggil Lend A atau 65.1 sen sesaham.


Q2 Dengan penurunan permintaan sarung tangan dan harga jualan purata, apakah rancangan Top Glove Q4 Pada 10 September 2021, Withhold Release Order (WRO)/Finding yang dikenakan oleh the U.S.
untuk mengurangkan kesannya dan bagaimanakah Tan Sri melihat prospek industri pada masa hadapan? Customs and Border Protection (CBP) ke atas sarung tangan pakai buang yang dihasilkan oleh
kemudahan Top Glove di Malaysia telah ditarik balik/diubahsuai selepas 14 bulan. Bagaimana
Kami telah melalui beberapa kitaran yang terdiri daripada berkembang dengan mantap, walaupun tidak sekuat semasa rasanya? Bagaimanakah pengalaman itu memberi kesan kepada Top Glove dan apakah
masa yang baik dan mencabar, sejak permulaan perniagaan kemuncak pandemik. Permintaan sarung tangan telah perubahan yang telah berlaku sejak itu? Apakah keutamaan segera Tan Sri pada masa hadapan?
30 tahun yang lalu. Kami berbesar hati bahawa walaupun meningkat secara berterusan pra pandemik pada kadar 10%
masa yang baik tidak bertahan lama, begitu juga dengan setahun dan berkemungkinan stabil pada tahap yang lebih
masa yang sukar. Selain itu, asas kukuh kami yang telah tinggi walaupun selepas pandemik berakhir disebabkan oleh
Kami sangat gembira kerana usaha kami untuk bertambah Namun, perjalanan kami masih belum selesai. Tugas
dibina sejak 3 dekad yang lalu, akan membolehkan kami tahap kesedaran dan kebersihan yang tinggi.
baik telah menghasilkan Modification ke atas Finding dan segera di depan kami adalah memulihkan perniagaan
menghadapi cabaran dan mengatasinya satu persatu.
Sememangnya, faktor-faktor seperti permintaan dan harga kami dapat meneruskan semula penghantaran sarung yang hilang akibat ketidakmampuan untuk mengeksport
Dengan kemajuan teknologi dan kelajuan maklumat jualan adalah di luar kawalan kami. Kami tidak boleh bergantung tangan ke Amerika Syarikat, terutama bagi pertugas ke Amerika Syarikat. Kami perlu berusaha keras untuk
disampaikan sekarang, kitaran perniagaan berubah kepada faktor luaran bagi meyampaikan prestasi yang baik. perubatan barisan hadapan dan responden pertama bagi mendapatkan kembali pelanggan serta bahagian pasaran
dengan cepat, dengan setiap kitaran perniagaan Untuk mencapai prestasi yang baik secara mampan dan melindungi kesihatan dan keselamatan mereka dalam dan membina semula kepercayaan dengan pihak
selalunya berlangsung selama 1 hingga 3 tahun sahaja. menawarkan nilai tambahan kepada pihak berkepentingan, masa yang luar biasa ini. berkepentingan kami yang sedang kami berusaha keras.
Cabaran dan peluang untuk perniagaan sekarang kami memberi tumpuan kepada faktor-faktor dalaman yang
adalah untuk menyesuaikan diri dengan persekitaran boleh dikawal seperti kualiti dan kecekapan. Yang paling Perjalanan kami selama 14 bulan yang lepas, sangat Kami akan terus meneruskan penyenaraian utama kami
yang berubah dengan cepat. penting, saya percaya bahawa asas kami mesti kuat dan dibina bermakna di mana kami telah muncul sebagai syarikat di Bursa Saham Hong Kong (HKEX). Penyerahan semula
atas “3 Kesihatan” kami: Kesihatan Mental, Kesihatan Fizikal yang lebih baik dan lebih kukuh. Walaupun tempoh itu pemohonan A1 kami telah dibuat pada 28 Oktober 2021
Penurunan dalam permintaan serta harga jualan purata dan Kesihatan Kewangan. Apabila mempunyai 3 Kesihatan sering mencabar, tetapi kami memandang pengalaman ini dan kami berharap dapat mengemas kini perkembangan
(ASP) sarung tangan adalah perkara yang telah kami tersebut, kami akan berada dalam kedudukan yang baik untuk secara positif dan sebagai peluang untuk mengukuhkan kami pada waktu yang terdekat. Dalam jangka panjang,
bersedia menghadapi setelah menciptakan simpanan menghadapi masa yang sukar dan mengatasi segala cabaran. inisiatif ESG yang berterusan. Berikutan ini, kami gembira kelestarian akan terus berada di kedudukan tertinggi
semasa tempoh pertumbuhan yang kukuh. Sudah bahawa pada Januari 2021, operasi kami telah disahkan dalam agenda perniagaan kami dan kami akan
tentu, kami terus memantau perubahan landskap dan Kesihatan Mental oleh perunding antarabangsa U.K. pihak ketiga bahawa terus meningkatkan usaha kami dalam amalan ESG,
akan bertindak balas bagi menyelaraskan strategi
dan pengeluaran kami dengan sewajarnya. Walau
bagaimanapun, kami yakin permintaan terhadap sarung 3 Kesihatan Fizikal
bebas daripada buruh paksa sistemik. Pada April 2021,
Top Glove telah menyelesaikan pembayaran pemulihan
kira-kira RM150 juta kepada lebih 13,000 pekerja asing
terutamanya amalan buruh dengan lebih mantap.
Pada Januari 2021, operasi kami

tangan sebagai barangan keperluan dalam sektor Kesihatan
yang telah membayar yuran pengambilan pekerja dan kos
penjagaan kesihatan akan terus berkembang dengan Kesihatan Kewangan
berkaitan kepada ejen pengambilan pekerja. Top Glove
telah disahkan oleh perunding
mantap, didorong oleh permintaan pasaran yang terus
juga membuat pelaburan besar untuk meningkatkan antarabangsa U.K. pihak ketiga
penginapan kakitangan dan melaksanakan talian bantuan bahawa bebas daripada buruh
Adakah anda prihatin tentang persaingan yang semakin meningkat di Malaysia dan peringkat kakitangan yang diuruskan secara bebas. paksa sistemik.
Q3 antarabangsa?
Semua perniagaan menghadapi persaingan, terutamanya bekalan. Sebarangan tekanan harga dan lebihan bekalan, ia
perniagaan antarabangsa. Kami adalah sebuah hanya buat sementara sahaja. Q5 Harga saham Top Glove telah menyaksikan penurunan mendadak dan pesat dari puncak hampir
syarikat senaraian awam global dan tidak mungkin
RM9.50 sesaham setahun yang lalu. Apakah komen Tan Sri mengenai perkembangan ini bagi
bebas daripada persaingan. Kekuatan perniagaan Walau apapun, Top Glove mempunyai beberapa kelebihan
kami di peringkat tempatan dan global adalah faktor yang memberi kami kemanfaatan berbanding pesaing kami pemegang saham Tan Sri?
pembezaan utama berbandingkan persaingan yang dalam jangka masa panjang. Kami menawar rangkaian sarung
timbul, dan merupakan kunci untuk menarik pelaburan tangan dipelbagaikan yang terdiri daripada sarung tangan
dan pelabur. Walau bagaimanapun, kami sedar bahawa nitril, getah asli, vinyl dan sarung tangan pembedahan, serta Kami amat komited untuk menciptakan nilai yang mampan
perniagaan sarung tangan adalah industry yang menarik, dipelbagaikan dari segi asas pelanggan dan pembuatan kami. untuk para pemegang saham kami. Inilah sebabnya kami
terutamanya semasa pandemik apabila terdapat lonjakan Kapasiti pengeluaran kami sebanyak 100 bilion helai sarung sentiasa menggalakkan pelabur kami untuk mengambil
dalam penggunaan sarung tangan. Dalam persekitaran tangan setahun yang merupakan terbesar di kalangan semua pandangan jangka panjang melabur dalam Top Glove
sedemikian, kami menjangkakan persaingan akan pengeluar sarung tangan di seluruh dunia, juga membolehkan dan tidak memberi tumpuan kepada harga saham
meningkat serta pemain-pemain baru muncul. kami menampung pesanan besar dari pengedar. Yang paling sebagai penunjuk tunggal. Walaupun masa depan tidak
penting, kami mempunyai pasukan yang berbakat, termasuk dapat diramalkan, kami percaya prestasi masa lalu kami
Kami mengalu-alukan persaingan yang sihat kerana ia pasukan penyelidikan dan pembangunan (R&D) dan kakitangan adalah petunjuk ketahanan syarikat kami. Selama 20
membuatkan syarikat kami serta industri lebih cekap, pemasaran pelanggan yang kuat. tahun sejak penyenaraian kami di Bursa Malaysia, kami
mengetepikan amalan yang lemah dan meningkatkan telah berjaya menyampaikan CAGR (Kadar Pertumbuhan
prestasi serta pemain. Ini juga menawarkan peluang Persaingan adalah faktor luaran yang bukan dalam kawalan Kompaun Tahunan) sebanyak 27% untuk Pendapatan
penggabungan dan pemerolehan (M&A) bagi kami. kami. Walau bagaimanapun, kami terus merancang dan Jualan dan 36% untuk Keuntungan, yang mencerminkan
menyusun strategi secara dalaman, supaya kami dapat asas-asas kukuh dan potensi baik industri sarung
Walau bagaimanapun, permintaan sarung tangan menahan apabila menghadapi pencabaran. Saya percaya tangan. Kami juga mempunyai rekod prestasi yang
global akan meningkat setiap tahun, walaupun dalam dengan Arah Perniagaan kami untuk menghasilkan sarung baik dalam memberikan jumlah pulangan pemegang
era pasca pandemik berikutan kesedaran kesihatan tangan berkualiti tinggi pada kos rendah yang cekap dan fokus saham sebanyak kira-kira 22,200% seperti pada
dan tahap kebersihan yang semakin meningkat. untuk kekal sihat, kami yakin akan berjaya mengurangkan
31 Ogos 2021, dalam tempoh 20 tahun yang lalu sejak
Dalam persekitaran sedemikian, kami percaya bahawa kesan dan menavigasi bekalan berlebihan pada mana-mana
penyenaraian kami.
peningkatan permintaan akan mengimbangkan lebihan tempoh, seperti yang pernah kami lakukan sebelum ini.


Q7 Lembaga Pengarah Top Glove telah dikritik sesetengah pelabur, dengan beberapa pelabur institusi
mengundi menentang pemilihan semula enam pengarah bebas di Mesyuarat Tahunan Am (AGM) Top
Glove pada Januari 2021. Apa yang telah berubah sejak itu dari segi pengawasan dan penglibatan
Lembaga Pengarah?
Sumbangan PPE dan peralatan perubatan kepada Hospital Tengku Ampuan Rahimah Klang (HTAR)
Tan Sri telah mengisytiharkan Tahun 2021 Tahun ESG (Alam Sekitar, Sosial & Tadbir Urus) untuk Top
Q6 Glove. Bukankah sepatutnya setiap tahun menjadi Tahun ESG terutamanya bagi sebuah syarikat
besar seperti Top Glove? Apakah yang berbeza tentang tahun ini?
Memang benar bahawa setiap tahun dan setiap hari kami membolehkan kemampanan disepadukan dengan
mestilah menjadi tahun atau hari ESG. Top Glove baik ke dalam setiap aspek perniagaan kami. Dengan
mempunyai tema untuk setiap tahun yang dipilih ketaranya, dari tahun kewangan 2021 dan seterusnya,
berdasarkan bidang yang penting yang kami ingin 40% KPI (Petunjuk Prestasi Utama) Kumpulan dikaitkan
fokuskan. Walau bagaimanapun, ini tidak bermakna dengan metrik ESG dalam 5 bidang tumpuan iaitu Kualiti
kami tidak akan memberi tumpuan kepada ESG selepas dan Keselamatan Produk, Kesihatan dan Keselamatan Majlis Anugerah Biasiswa telah diadakan di Kolej Universiti Tunku Abdul Rahman untuk menganugerahkan pelajar-pelajar
tajaan Top Glove
2021 berakhir. Malah, kami telah mengisytiharkan 2021 Pekerjaan, Pengekalan Bakat, Hak Asasi Manusia dan
Tahun ESG, menandakan permulaan usaha yang lebih Amalan Buruh, dan Pengurangan Pelepasan Karbon.
besar yang akan datang, ini dengan komitmen bahawa Saya berbangga dengan Lembaga Pengarah kami. Ini Penglibatan ID kami adalah teladan baik, melangkaui
pertimbangan ESG akan menjadi kepentingan utama adalah masa yang mencabar bagi mereka dan mereka telah keperluan tadbir urus, termasuk memberikan panduan
bagi perniagaan kami. Pengurangan Kualiti dan terus melaksanakan tugas dengan penuh tanggungjawab, mengenai pelbagai perkara penting seperti CBP WRO/
Pelepasan Keselamatan melakukan dengan penuh rahmat di bawah tekanan. Finding sebelum ia ditarik balik/diubahsuai, pengurusan
kes COVID, pematuhan Akta 446 (Peraturan penginapan
Karbon Produk
Lembaga Pengarah termasuk Pengarah Bebas (ID) kami pekerja tempatan Malaysia), mewujudkan Skim Beli
bermesyuarat secara kerap untuk membincangkan isu-isu Balik Saham (Share Buyback) yang lebih tersusun,
Alam Sekitar Sosial Tadbir Urus

5
BIDANG
utama syarikat, dan secara aktif melibatkan diri dengan
pihak pengurusan dan kakitangan terutama mengenai
perkara-perkara berkaitan dengan pengurusan risiko,
serta melawat ke tapak pusat vaksinasi dan asrama
kakitangan kami di mana mereka berdialog secara
langsung dengan pekerja kilang kami. Selain itu, mereka
Hak Asasi audit, ESG serta sumber manusia. Sejak Mac 2021, ID kami memainkan peranan penting dalam menetapkan visi dan
Sebagai syarikat antarabangsa, kelestarian merupakan TUMPUAN Kesihatan dan
nadi perniagaan kami dan melaburkan sumber daya Manusia juga telah mengadakan penglibatan suku tahunan dengan hala tuju strategik Top Glove untuk tahun akan datang
Keselamatan
kami untuk melindungi alam sekitar, memajukan dan Amalan wakil pekerja untuk lebih memahami isu-isu yang dihadapi melalui analisis and perancangan senario dan krisis.
Pekerjaan
perniagaan yang beretika, membangunkan komuniti Buruh dan memberi sokongan dan nasihat untuk perkara yang Di samping itu, ID kami sering mengambil bahagian
dan memberi kesan positif kepada kehidupan menjadi Pengekalan dikemukakan. Mereka juga telah mengambil peranan aktif dalam pertemuan dengan badan-badan luar, seperti
keutamaan kami, tahun demi tahun. Mencerminkan dalam memastikan kemudahan yang disediakan untuk Suruhanjaya Hak Asasi Manusia Malaysia (SUHAKAM)
Bakat
keunggulan ESG yang semakin meningkat di peringkat kakitangan kami mematuhi semua keperluan bidang kuasa dan pelbagai pakar bidang perubahan iklim untuk
global, kami mengisytiharkan tahun 2021 sebagai pasaran termasuk menyelaraskan prinsip perniagaan kami membincangkan penetapan sasaran sifar bersih.
Tahun ESG Top Glove, demi mewujudkan kesedaran Kami mengetahui bahawa adanya lebih banyak perkara kepada agenda Perniagaan dan Hak Asasi Manusia.
dalaman yang lebih kuat dalam kalangan kakitangan di yang dapat kami lakukan dan akan terus meningkatkan
semua peringkat, yang membolehkan fokus lebih tajam amalan ESG kami agar dapat menyampaikan
di seluruh syarikat terhadap perkara penting ini. kecemerlangan secara berterusan, bukan hanya sebagai
perniagaan tetapi sebagai warga korporat, sejajar Nota:
Keuntungan tidak semestinya memudaratkan manusia dengan komitmen kami untuk terus menampil yang Baca lebih lanjut tentang komitmen kami terhadap ESG dalam bahagian yang bertajuk Creating Sustainable
ataupun planet, dan kami memastikan sistem dan proses terbaik dengan berbuat baik, malah di luar Tahun ESG. Value pada muka surat 88.

与执行主席对话与执行主席对话
丹斯里林伟才博士
丹斯里林伟才博士
对于全球最大手套制造商顶级手套而言，2021财务年乃集团收获颇丰却
2021财务年乃极具里程碑含义的一年，取得随着手套需求量和平均销售价的缓和，顶级
充满挑战的一年。其创办人兼执行主席，丹斯里林伟才博士对于运营环 Q1 空前财务业绩，顶级手套表示其与权益持有 Q2 手套计划将如何减轻其影响，而您对领域前
人共享其成果的意愿。这将如何实践？景有何看法？
境的高低起伏并不感陌生，更为重要的是，丹斯里林伟才在过往曾有过
令人钦佩的记录，成功带领集团度过多个艰难时期并使其变得更强大。我们致力于为所有权益持有人创造价值，无论顺集团自30年前创业以来，我们经历了无数个包含
境或逆境，都将不为动摇。于此特出的2021财务顺境及逆境的时期。纵然顺境时期普遍短暂，我
集团于2021年欢庆其成立30周年之际，丹斯里林伟才分享了本身对此财年里，我们很高兴得以通过不同方式为众多权益们深感欣慰逆境时期亦有到达尽头之时。此外，
务年的看法，包括对于疫情及解除美国暂扣令后的展望。他以一贯坦持有人做出更积极及丰厚的贡献。集团于过去3个年代所建立的强稳基础，已备集
团于迎接种种挑战并逐一克服。
率、诚实及透明化的作风答复于当今最火热的问题。为奖励其忠实股东及投资者们，集团很高兴将股
息支付频率从半年制改为季度制，此外，除了集随着科技先进化及如今信息传播速度之快，运营
团股息政策原有的50%，亦发布了20%的特别股周期瞬息万变，每周期仅持续一至三年。目前，
息。2021财务年总股息约为马币52亿或每股65.1 行业所面临的挑战及机遇乃适应迅速变化的商业
仙。环境。
身处充满挑战的时期，我们有幸贡献了马币22亿缓和的手套需求量和平均销售价乃意料中之事，
的所得税。此举象征着集团对于国家建设及促集团已为此做足充分准备，通过盈利强劲时建立
进永续经济增长的贡献。此外，于2021财务年，储备。当然，集团持续关注于多变的市场形势，
集团亦贡献了马币1.91亿，向需要帮助的社区提并以应对性的策略及生产做出回应及调整。手套
供支援。其中，集团有幸为由马来西亚政府发需求量增长虽不如疫情高峰时期来得迅速，但手
起的马来西亚新冠病毒基金会及名为 ‘ 伸出援手套作为医疗保健领域不可或缺的物品之一，其需
Lend A Hand (LAH) ’ 的社区食品援助计划献出一求量仍受到强劲市场需求的推动而持续稳步增
份绵力。另外，集团亦捐赠了手套、口罩、消毒长。手套需求量于疫情爆发前已以每年10%的幅
洗手液及制氧机于国内及国外。度稳步增长，而在疫情后期，健康意识和卫生水
平的进一步提升致使需求量或稳定于比疫情前要
集团不间断的扩展计划也使我们能够持续提供有高的水平。
酬就业机会，进而缩小国内因疫情所致的失业现
象。于2021财务年，集团招聘了9,720名新员工，理所当然，需求量及销售价等因素皆属于我们所
基于集团正迈向自动化及数码化的营运方式，其无法掌控的外部因素。我们并不会依赖于此些因
中将近3,000名为大马公民技术职业教育与培训素来维持优良表现。为了永续性地取得卓越表现
（TVET）毕业生及技术人员。并为集团利益相关者提升价值，我们将专注力转
向控制范围内的内部因素，如质量及效率。甚为
此外，集团亦投入资金于强化环境、社会及治理重要的是，我们坚信集团必须拥有牢固的基础及
（ESG）方面的举措，同时备足设施以确保集团具备 “ 三大健康 ”，即：心理健康、身体健康及
业务的永续性，并保持自身永续发展及做足持续财务健康。当此些因素都到位时，集团即有能力
贡献的准备。完善地度过艰难时期并经起任何挑战。
心理健康
2021财务年总股息
约为马币52亿或
3大健康身体健康
财务健康
每股65.1仙。

与执行主席对话与执行主席对话
丹斯里林伟才博士丹斯里林伟才博士
Q3 对于来自本地及国外加剧的竞争，您是否有所忧虑？ Q6 顶级手套宣布2021年为ESG（环境、社会及治理）之年。对于顶级手套这样的大企业而言，难道不该是每
年皆为 ESG之年吗？今年有何如此不同之处？
所有行业都存在竞争力，尤其于国际行业。身为一无论如何，顶级手套具备多项优势，而从长远看
家国际上市公司，不能指望零竞争的存在。相对于来，这使集团在竞争方面更胜一筹。集团提供高度
确实，每一年每一日都该被视为ESG之年／日。每一让永续发展元素完善地被融入于业务的各个方面。甚
所面临的竞争，集团于本地及全球强劲的业务将是多样化的手套系列，如丁腈、天然橡胶、乙烯基和
年，顶级手套都将设立一个主题，根据集团想要特定为显著的是，自2021财务年起，集团员工40%的关键
吸引更多投资者的关键。尽管如此，我们时刻警惕手术手套；于地理方面，集团亦拥有多样化的客户
手套行业极具吸引力，尤为疫情期间手套使用量的群和制造基础。集团1,000亿只的手套年产量，乃全关注的重要领域。然而，这并不意味着集团将于2021 绩效指标相连于ESG指标的首5个关键重点领域，包
激增。处于这样的一个环境，我们预计行业间竞争球所有手套制造商中最为庞大，亦使我们有足够的年到达尾声时，停止对于ESG领域的关注。实际上，括：产品质量和安全、职业健康和安危、人才保留、
的加剧及新生产商的崛起。能力应对来自分销商的大量订单。最为显著的是，当我们宣布2021年为ESG之年的当儿，这标志着集团人权和劳工实践以及碳减排。
我们拥有一支由优秀人才组成的队伍，其中包括强承诺从今往后将ESG考量因素纳入集团业务的核心，
集团无任欢迎良性竞争，因其将提升集团以及此领大的研发团队及以客户为中心的营销人员。并且付出更大的努力。
域的效率，通过淘汰较弱的实践同时加强绩效及同碳减排产品质量和安全
领域玩家。此外，这亦为集团提供并购机会。竞争乃我们无法掌控的外部因素。然而，集团不曾
停止于内部进行规划及制定策略，以便有足够的能
5
然而，基于健康及卫生意识的增强，全球手套需求量正力抵抗逆境的到来。我们深信只要秉着以高效率低
在不断扩展且仍在逐年增长，甚至于疫情爆发后期。为成本的方式生产高质量手套，并保持健康的业务方个关键
此，我们相信这将足以抵消供应过剩的问题。任何供过针，集团将如往常一样顺利地缓解并应对任何供过环境社会治理人权重点领域职业健康
于求和定价压力的现象将会是暂时性的。于求的时期。和劳工实践和安危
身为一家国际企业，永续发展一直是我们业务的核
心，我们年复一年地将资源投入并专注于保护环境、
推广道德商业、建立社区和给予生活正面的影响。纵人才保留
观ESG于全球日益显著的地位，我们宣布2021年为顶
Q4 于2021年9月10日，美国海关及边境保护局（CBP）对顶级手套在马来西亚工厂生产的一次性手套施加的级手套ESG之年，以于内部各个阶层建立更强大的意
暂扣令／调查于14个月后被解除／修改。您对此有何感想？这次经历对顶级手套带来了怎样的影响以及识，使全公司更广泛地关注于这一项重要的领域。我们深知集团所能做的远比想象中更多，并不断改进
自此之后实施了哪些改变措施？对于未来，哪方面将会是您的首要任务？我们的ESG实践。这将促使集团于非ESG之年，亦能
集团深知为了取得盈利的同时，人类或地球不该被视本着 “ 为善者，诸事顺 ” 的信念，提供一个企业公民
我们很高兴集团齐心协力的付出促成了CBP修改对金。此外，顶级手套亦投入大量资金于改善员工住为牺牲的代价，我们努力确保集团系统及流程得以该有的卓越表现。
于顶级手套的调查结果，并期待恢复将手套出口至宿，及开通一条由独立机构管理的劳工求助热线。
美国，特别于医疗前线人员和急救人员，以便在此
非常时期确保他们的健康及安全。然而，集团的征途远未结束。当务之急乃收复因无发
向美国出口手套所造成的损失。我们务必献出万分努 Q7 集团董事会受到投资者们的严厉谴责，数家机构投资者于2021年1月的顶级手套年度股东大会上对六名独
过去14个月的经历对集团而言意义深重，我们从中获力于赢回客户和市场份额，以及权益持有人的信任。立董事的连任投以反对票。自那时起，对于董事会的监督及参与度有了哪些转变？
益良多，并成为了更佳及更强大的顶级手套。无可
否认，当下着实极具挑战性，但我们积极正面并将我们将持续进行双边主要上市于香港交易所我本身为集团董事会深感自豪。这对于他们而言乃是一个充满挑战的时段，而他们于批判声下仍体面地履
此次经历视为巩固集团现有ESG举措的良机。随着此（HKEX）。于2021年10月28日，集团向其交易所行各自的职责。
次经历，我们确幸集团的运营于2021年1月获得了独重新提交上市申请，并期待在适当的时机向大众更
立第三方国际英国顾问的验证，证实集团并无系统新我们的进展。长远来看，永续发展将在我们的商包括独立董事在内的董事会，不时定期展开会议以商讨集团关键问题，并积极与管理层及员工密切接触，
性强迫劳动的元素。于2021年4月，针对超过13,000名业议程中占据重要的位置，而我们将不断在这重要以探讨风险管理、审计、ESG以及人力资源的相关问题。自2021年3月，集团独立董事每3个月将与劳工代表
先前已向招聘代理支付招聘费用及相关费用的外籍的领域加强努力，使集团ESG举措更为稳健，尤其会面，以便更深入了解所面临的问题及给予支持和建议。此外，董事会积极确保提供于员工的设施符合所
劳工，顶级手套已完成了逾马币1.5亿的招聘费补偿于劳工实践方面。
有市场管辖范围的需求，包括保证其业务原则遵守商业和人权议程。
集团独立董事于业务的参与亦堪称典范，超越了管治的需求，包括就各种重要事项提供指导，如：暂扣
令／调查被解除／修改前、新冠病毒案例的管理、遵守446法令（马来西亚当地劳工住宿条规）、制定更
Q5 顶级手套股价从一年前将近每股马币9.50的巅峰值急剧下滑。对于股东们，您对此现象有何评论？结构化的股票回购计划，以及参观我们的疫苗接种中心及员工宿舍，当下亦与工厂员工有直接的沟通。此
外，他们亦通过情景和危机分析及规划来制定顶级手套于未来数年内的愿景和战略方向。不仅如此，集团
独立董事经常参与外部机构的会面，例如：马来西亚人权委员会（SUHAKAM）及诸位气候变化学科专家，
我们致力于为股东创造永续价值。这亦是为何我们总是鼓励大众投资者们以长远的角度来看待对顶级手套以商讨净零目标的设定。
的投资，而非将股价视为唯一的指标。虽然未来难以预测，但我们坚信集团过去的表现可以作为集团极具
韧性一面的验证指标。自20年前集团上市于大马交易所，我们成功取得了27%收入及36%盈利的复合年增长
率，突显了手套领域强大的基础及稳固的长远潜能。此外，集团亦拥有良好的业绩记录，自过去20年上市
以来，截至2021年8月31日，总股东回报率约为22,200%。脚注：
欲详细了解集团对于ESG领域的承诺，请参阅第88页的 Creating Sustainable Value 章节。

LETTER TO STAKEHOLDERS AND LETTER TO STAKEHOLDERS AND

MANAGEMENT DISCUSSION & ANALYSIS
MANAGEMENT DISCUSSION & ANALYSIS
Unsurpassed value creation & sharing our
successes with stakeholders in FY2021
CREATING VALUE,
9,720 jobs created
SHARING SUCCESS
IN A LANDMARK All-time high Sales Revenue of 126%
YEAR RM16.36 billion from FY2020
GOOD HEALTH AND GOOD DAY Exceptional Net Profit of 337%

FELLOW STAKEHOLDERS.
RM7.82 billion from FY2020
In a year like no other, we

Unprecedented
have been reminded that 452%
total dividend payout of
health is the one wealth
RM5.21 billion from FY2020
that truly matters. As the
pandemic raged on, Top
Glove intensified efforts
RM2.2 billion in income tax towards
nation building and economic growth
to produce more quality
gloves to meet the urgent
need for Personal Protective
RM220 million to construct
employee accommodation
Equipment (PPE), as
healthcare personnel bravely
took up their positions on Management Discussion and Analysis RM191 million donated
for community pandemic relief
the frontlines of the global For financial year 2021 (FY2021), Top Glove’s Sales Revenue amounted to RM16.36
war against COVID. billion, soaring 126% from FY2020. Profit After Tax (PAT) also grew to RM7.82
billion, a 337% jump compared with the previous financial year. Meanwhile, the RM44 million invested in
Group’s net cash position as at 31 August 2021 stood at a healthy RM1.74 billion. ESG related initiatives
Amidst the global crisis, we also
The Group’s FY2021 performance is summarised in the following charts.
contended with challenges of our own.
These included the imposition of a halt
PERFORMANCE MILESTONES FOR FINANCIAL YEAR 2021
on glove exports from our Malaysian
operations to the U.S. by the U.S.
Customs and Border Protection (CBP),
Revenue, RM’mil EBITDA, RM’mil & Margin% PAT, RM’mil & Margin% Net Cash/(Borrowings), Earnings Per Share, Sen Dividend Per Share, Sen
while our people were also affected by RM’mil
the virus; events from which we learnt 63% 48% 2,343
16,361 33% 25%
many valuable lessons as we worked 1,743
95.9 65.1
to successfully resolve them. +126%
10,285
In all this, delivering both long term +338% +452%

+325%
value and growth for our multiple 7,237 7,824
+337%
stakeholders, while protecting lives 31/8/2020 31/8/2021
remained our priority and driving 2,421 21.9 11.8
ambition in FY2021, as Top Glove 1,789
overcame the obstacles to mark

another milestone year and our 30th 31/8/2019
FY2020 FY2021 FY2020 FY2021 FY2020 FY2021 FY2020 FY2021 FY2020 FY2021
(2,251)
anniversary.


MANAGEMENT DISCUSSION & ANALYSIS MANAGEMENT DISCUSSION & ANALYSIS
The Group’s commendable yearly financial performance was attributed to robust glove demand coupled with strong average
selling prices (ASPs) which rose some 138% in line with market pricing trends, driven by the ongoing pandemic. % OF PRODUCT MIX BY VOLUME FROM FY2011 to FY2021
Sales Volume remained consistent against FY2020, on the back of intermittent disruptions in glove production arising from
60%
an Enhanced Movement Control Order (EMCO) on our hostels in November 2020; COVID cases in some factories; a state
wide EMCO in Selangor in July 2021 during which the glove industry was not allowed to operate for 10 days; as well as
Movement Control Order (MCO) related lockdowns throughout the financial year during which affected facilities had to
operate at reduced capacity. The reduced output also adversely impacted utilisation, driving costs upward. 55%
47%
50%
In addition, we experienced a temporary stoppage of sales from our Malaysian operations to the U.S. from April 2021 to
43%
August 2021, following the imposition of a Finding by the U.S. CBP, which has since been lifted effective 10 September 2021.
Meanwhile, raw material prices increased in 1HFY2021 following supply shortages due to increased demand from the glove 40%
42%
industry. Our larger profit base in FY2021 also resulted in the application of a higher effective tax rate.
FY2021 SALES VOLUME (QUANTITY) COMPARISON BY REGION

30% 27%
26% 24%
22%
North America Western Europe Eastern Europe Asia ex Japan 19%
15 %
20 %
18 %
22 % 20% 23%
20%
11%
9%
9% 8%
10% 7%
2% 3% 2%
1%
Western Europe 0%
North America Japan
FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
Eastern Europe
Asia ex
Japan Natural rubber Natural rubber
Nitrile gloves Vinyl/TPE/CPE Surgical gloves
powder free gloves powdered gloves
Middle East
Global
Africa Market since 2020 since 2004 since 2018
Position
Latin America Over the course of FY2021, we noted a gradual shift in demand from nitrile gloves to natural rubber gloves, following the
rise in COVID cases in emerging markets where natural rubber gloves are preferred, owing to slower vaccine rollout in these
countries.
Nonetheless, our comprehensive product mix coupled with the ability to switch strategically from the production of nitrile
gloves to natural rubber gloves, rendered us well positioned to accommodate shifts in preference and cater to the needs of
different markets, thereby mitigating business risk.
Latin America Africa Middle East Japan
10 2 6 7
Having successfully turned Aspion’s operations around, we continued to reap the fruits of our acquisition, as the additional
% % % % capacity enabled us to meet the urgent glove demand and contributed positively to the bottom line.


Beyond Financials: In Pursuit of a Sustainable Future Corporate Developments
Top Glove powered through an intensely challenging environment, staying on course to execute and deliver on its growth
agenda.
Continuous Capacity Expansion In Line with Global Demand
Doing our part to ensure uninterrupted glove supply during a crucial time, the Group continued to embark on steady
capacity expansion in FY2021. While glove demand started to normalise towards the latter part of the financial year
following rapid vaccine rollout on a global scale, growth is still expected to stabilise at elevated levels after the pandemic
recedes, compared with a pre pandemic growth of 10% per annum.
Accordingly, investment plans are underway for future growth. Top Glove will continue to embark on organic capacity
expansion, adjusting where necessary in alignment with the global glove demand and supply situation, constructing new
and technologically advanced factories featuring more automation and computerisation, while upgrading existing facilities
as well. By 31 December 2025, Top Glove is projected to have a total of 59 factories comprising 46 glove factories and 13
other factories, 1,486 glove production lines and a glove production capacity of 201 billion gloves per annum.
The Group’s organic expansion plans for 2021 to 2025 are detailed below:
Total Capacity, bil pcs

+24%
+39 201
+18%
+23% +25
+11% +26
+11
Top Glove’s Fully Virtual 22nd Annual General Meeting held on 6 January 2021 100
90
Equally as important as the financial results delivered is how they have been achieved. As an industry leader, we are
wholly committed to fulfilling our responsibility as a global corporate citizen and continue to step up our efforts across the
Environmental, Social and Governance (ESG) pillars of sustainability, mindful that we can and should always strive to do
better.
Towards a deeper integration of ESG into the business and marking the start of greater efforts to come, we declared FY2021 2020 2021 2022 2023 2024 2025 2025
as The Year of ESG for Top Glove, which has seen the establishing of ambitious mid term targets to be attained by FY2025. Dec Sept Dec
Concurrently, the Group is exploring science based target setting with an external consultant, towards crystallising a net
zero carbon emissions roadmap.
Meanwhile, the Group committed to invest RM600 million for the establishment of an NBR (nitrile butadiene rubber) Latex
As the employer of choice to a workforce of 22,000, we are committed to be the best company that we can become, for our Processing Plant in Banting, Selangor to better ensure a consistent supply and quality of NBR latex, and to mitigate
people. This includes having in place a Zero Cost Recruitment Policy, comfortable accommodation and grievance channels the impact of price fluctuations. The construction of the plant will be carried out in 4 phases, with Phase 1 expected to
for our foreign workers, as well as robust health, safety and security initiatives. In January 2021, our operations were also commence operations by 3QCY2022 with a capacity of 50,000 tonnes and completion by 4QCY2024 with a total capacity
verified by an independent third party international U.K. consultant as being free of all 11 International Labour Organization of 200,000 tonnes.
(ILO) systemic forced labour indicators.
In progress is also a Gamma Sterilisation Plant in Klang, Selangor, aimed at reducing concentration risk and expediting
Read more about the Group’s efforts and commitment to charting a sustainable growth strategy during Top Glove’s Year of the sterilisation process of surgical gloves, towards shortening the time to market. Phase 1 of the plant is targeted to
ESG and beyond, on page 88. be operational by 1QCY2022 while the final Phase 3 is targeted for completion by 3QCY2023. The facility which has an
estimated CAPEX of RM65 million will be able to provide sterilisation for 1 billion pieces of surgical gloves per annum.


Future Proofing Our Business Through R&D and Advanced Technology Record High Dividends in an Exceptionally Good Year
R&D and technology continue to be key drivers of and packing systems. With our facilities powered by In keeping with our firm commitment
improvement and innovation at Top Glove and we will sophisticated, state of the art packing machines and to reward and share our success
continue to build our capabilities in these crucial areas. autonomous vehicles, our operators also enjoy healthier with our approximately 136,000
work environments while ensuring our customers receive loyal shareholders, we declared a
As at 1st November 2021, our R&D Division had a total consistently high quality gloves made under optimally total annual dividend amounting
staff strength of 1,375 researchers, deployed across our hygienic conditions. to an unprecedented 65.1 sen per
R&D Centres as well as factory departments. The total share or RM5.21 billion, which
intellectual pool of researchers within the Group comprises We are also investing in Manufacturing Operations represents a 452% increase from
39 PhD holders, 137 Master’s Degree holders, 1,158 Management Systems to tie together every stage of our the full year dividend for FY2020
Bachelor’s Degree holders and 41 with other qualifications, operations: planning, production, inspections, inventories, of 11.8 sen per share. We are also
enabling us to carry out multidisciplinary researches for the and logistics, eventually achieving full integration with pleased to have instituted quarterly
future sustainability of the business. our ERP systems. Culminating in a “Supply Chain Control dividend payments for FY2021.
Tower”, this enterprise wide integration will give our teams
At present, Top Glove has established 10 R&D Centres, greater insight into our processes powered by AI systems
7 based in Malaysia, 2 in Thailand and 1 in China, each to identify and overcome production bottlenecks. Participants strike a pose at Top
Glove’s Annual Leadership Summit
specialising in a different area of research, enabling the 2021, which was themed “ESG:
Group to adapt to rapidly shifting trends in the global All these and more will be incorporated into not just our Change Today for a Sustainable
market. Further to that, 2 more R&D Centres are in the existing plants, but will also be natively embedded into our Tomorrow”
pipeline, 1 of which will be solely focusing on IR 4.0 and new Top Glove Innovation Campus (TGIC) as our state of the
manufacturing, equipped with the latest technology and art hub for manufacturing and R&D. Featuring best in class
automation. glove manufacturing technologies, TGIC will be our next
Our COVID Response: Putting Health & Safety First
great milestone in glove manufacturing, in demonstration
Over the years, our strong focus on R&D has resulted in of our commitment towards continuous improvement and Even as we intensified glove production, we were As a preventive measure in addition to adhering to
advancements and breakthroughs which have seen the the delivery of consistently high quality gloves at efficient cognisant of the need to ensure we did so safely, with SOPs, the Company has invested approximately
establishing of advanced production lines, Robotic Glove low cost. Phase 1 of TGIC is expected to commence a sharpened focus on the well being of our employees RM7 million to date in COVID testing for its employees.
Handling systems and Integrated Operations Management operations by 3QCY2022, while completion is targeted by and the communities we serve. To this end, COVID
systems, AI vision cameras and robotic arms, which will 2QCY2025 with a capacity of 20 billion gloves per annum. preventive measures were in place since the onset Towards reducing unnecessary commuting and
enable us to remain competitive in the long run. of the pandemic, and continued to be adapted and exposure, the Company provides subsidised
In tandem, Top Glove is committed to keeping our impact enhanced in step with the rapidly evolving situation. healthy vegetarian meals, which are delivered daily
The comprehensive range of home, personal and oral care on the environment low, and putting in place systems to These included strict enforcement of COVID standard to employees’ factories/offices, for which we have
products which includes hand sanitisers, anti bacterial govern and maintain the harmony between our operations operating procedures (SOPs), as well as social distancing invested RM7.2 million in FY2021. Under this scheme,
in our factories and employee accommodation, while workers need only pay RM1 for a healthy vegetarian
handwash, dishwashing liquid and floor cleaning detergents and the environment. Towards keeping our operations
regular spot checks were also carried out to ensure meal. Meanwhile, cashless payment at our canteens as
produced by Top Glove Healthcare Centre (TGHC), emerged sustainable, we have an array of projects underway for
continued compliance with Malaysian Government well as for catering has been implemented. Embracing
as important products during the pandemic, complementing monitoring and managing energy, gas, and water resources,
regulations to the highest standards. Training was also the new normal, Top Glove implemented a Work From
our core glove business. TGHC, which was established by as well as ongoing investments into solar, advanced rolled out towards creating awareness and reinforcing Home (WFH) Policy during the pandemic, leveraging
the R&D team, is an ISO certified company certified with Industrial Effluent Treatment System (IETS), and material the need to adhere to preventive measures and SOPs. technology to swiftly activate online meetings, training
ISO 9001:2015 (QMS) and ISO 22716:2007 (cGMP) and recycling processes. and virtual inspections as needed, enabling business
is approved by the National Pharmaceutical Regulatory Following a temporary stoppage at our factories in to operate as usual in an unusual environment. The
Agency (NPRA). All TGHC products are formulated with a We also continue to expand our cloud manufacturing Meru from 17 November 2020 to 14 December 2020, majority of meetings and trainings continue to be
priority on natural ingredients, minimal chemical content infrastructure and building up our “Grand Data Terminal” the affected facilities underwent a rigorous sanitisation conducted virtually even as the workforce returns to
and are cruelty free. by utilising technologies of IIoT, WIFI6 and Edge computing process and reopened with reinforced health and the office.
to connect thousands of data points to the network. safety measures.
From a technological perspective, our factories continue Harnessing our analysts and digital talents, we channel The TG Workers’ Learning App (TGWLA) was also
Top Glove on 19 July 2021, commenced its participation developed in house, allowing our workers to perform
to advance towards higher mechanisation. Building upon all this data into dashboards and analytical reports that
in Program Imunisasi Industri COVID Kerjasama Awam mobile based learning. In addition, facial recognition in
our automated recipe preparation, line control systems and present an augmented view of our factories in near real
Swasta (PIKAS), a partnership between the public and place of finger scanning for access to our premises has
AI visual inspection systems, we continue to work towards time. And as a bonus, by digitalising these reports, we cut
private sector aimed at accelerating the immunisation been rolled out to minimise physical contact for high
realising our vision of “contactless” intelligent production down on our paper usage as well, in line with our direction of its employees. To date, 99% of employees in touch surfaces.
of going paperless. Malaysia have been fully vaccinated while 98.8%
Groupwide have received both doses.


Awards and Accolades Modification of the Finding by the U.S. CBP Outlook & Prospects company remains fit and well positioned to celebrate
many more anniversaries to come.
Top Glove is also honoured to have garnered several Following the Modification of the Finding by the U.S. CBP, Top Looking ahead, we are confident that demand for gloves
awards at the prestigious The Edge Singapore Glove’s Malaysian operations have been allowed to resume will continue on its steady uptrend, increasing between Heartfelt Appreciation
Billion Dollar Club 2021 (BDC). Under the Healthcare exporting and selling gloves to U.S. effective 10 September 2021, 10% to 15% per annum, driven by elevated levels of
Services & Pharmaceutical sector, it won 3 awards indicating the Group has addressed all indicators of forced labour awareness and hygiene standards both in the medical Tough times lay bare what individuals and businesses
namely Best Performing Stock, Fastest Growing identified at its Malaysian facilities. This positive development is and non medical sector. Demand growth will also be are made of. In the most trying of times, we learnt with
Company and Best in Sector and to top it all, was expected to boost sales from Top Glove’s Malaysia operations to supported by the emergence of new virus strains, even the greatest pride the full measure of our resilience as
also named Overall Winner for 2021 amongst 90 U.S., which accounts for 15% of the Group’s FY2021 total sales. as the pandemic transitions to an endemic and the a company to rise up in the face of adversity and forge
other companies in the BDC this year. world starts to “live with COVID”. Moreover, with the ahead strongly.
Our journey to modification has been deeply meaningful and humbling, resumption of sales to the U.S. which is a key market for
Further solidifying its position as an employer of and one from which we have emerged a better, stronger Top Glove Top Glove, we are optimistic of an improvement in Sales On this note, we wish to express our heartfelt thanks to the
choice, the company was recognised at the HR today. We are particularly pleased at having completed remediation Volume over the quarters ahead. Board for their wise counsel and hands on involvement,
Asia Awards Best Companies to Work for in payments of over RM150 million to over 13,000 eligible migrant workers which have been particularly valuable in navigating the
Asia, for the 5th consecutive year in March 2021. In who had paid recruitment fees and related costs to recruitment agents, This is not to say there will not be challenges. Headwinds rough waters and helping steer the company safely to
June 2021, Top Glove also garnered multiple wins made substantial improvements to employee accommodation and are expected in the form of easing ASPs on an industry shore.
at the Human Resources Excellence Awards implemented an independently managed worker helpline amongst wide basis, while customers adopt a wait and see
2020, in the areas of HR Excellence in Leadership other initiatives. This is just the beginning for us and we are inspired to approach in anticipation of normalising ASPs and defer To our employees, our Top Glovers, you have met the
Development (Gold), HR Excellence in Talent continue to be the best company we can be, as we ensure the health, restocking activity. Competition from manufacturers, challenges of these unprecedented times with unparalleled
Management (Silver), Most People Focused CEO safety and wellbeing of our people is always taken care of. particularly those from out of the country, is also commitment. Our deepest gratitude for bringing a
(Silver) and HR Excellence in Corporate Wellness increasingly rife. can do attitude to your hard work and dedication, that
(Bronze). In addition, Top Glove was named Winner has enabled our company to weather another challenging
at the Best Employer Brand Graduates’ Choice While the business environment is expected to be year and emerge stronger. We were even more heartened
Awards 2021 in the Manufacturing category and To view the statement issued by the U.S. CBP on this matter, difficult, we are well prepared. The strong cash flow to witness your selflessness, as you came out in droves
kindly scan the QR code or visit this link: https://public-
won a Bronze at the Employee Experience Awards inspection.federalregister.gov/2021-19535.pdf reserves which we have built over the course of FY2021 during the pandemic, to deliver food and necessities on
2021 (Malaysia) for Best Employer Branding. will enable us to fund continuous expansion and also a daily basis to our colleagues affected by the EMCO.
seize opportunities for accretive M&As when they Bravo, you have truly done us proud.
arise. In tandem, we will also continue to invest in R&D
and leverage advanced technology to reengineer our To our customers, suppliers, shareholders and other
processes towards a greater degree of product quality, stakeholders; thank you for your support, feedback and
efficiency and innovation. constructive critique, which both inspires and compels us
to do more and do better, bringing out the best in us.
Our strong FY2021 performance in the face of a tough
operating environment has also given us good reason We also take this opportunity to acknowledge and salute
to be optimistic about the future; not least because our frontliners and medical practitioners who continue to
we have seen the resilience of our people, which has carry out their jobs with bravery and at great sacrifice. You
powered our ability to adapt and thrive in the most trying are our nation’s heroes and it is a distinct honour to glove
circumstances. you and your fellow frontliners all over the world.
This is why we still dare to dream. Our ambitious plans

for the future remain intact and include becoming both
a Forbes and Fortune Global 500 company by the year TAN SRI DR LIM WEE CHAI
2030. We will also continue to pursue a dual primary listing Executive Chairman
on the Hong Kong Stock Exchange (HKEX) for which we Top Glove Corporation Bhd
resubmitted our A1 application on 28 October 2021. 2 November 2021
Our 30 th anniversary may have coincided with our most DATO’ LEE KIM MEOW
challenging year yet, but we move forward resolutely Managing Director
into the days ahead, with the fullest confidence that the Top Glove Corporation Bhd
unwavering support of our Top Glovers will ensure the 2 November 2021
Top Glove Foundation donated personal protective equipment comprising gloves, face masks and hand sanitisers produced by Top
Glove to Sungai Buloh Hospital on 14 June 2021, as part of a collaborative effort with the MRCA Council Members

PERUTUSAN KEPADA PIHAK BERKEPENTINGAN DAN PERUTUSAN KEPADA PIHAK BERKEPENTINGAN DAN
PERBINCANGAN & ANALISIS PIHAK PENGURUSAN
PERBINCANGAN & ANALISIS PIHAK PENGURUSAN
Penciptaan nilai yang tiada tandingan & perkongsian
kejayaan dengan pihak berkepentingan pada TK2021
MENCIPTA NILAI,
9,720
MENGKONGSI pekerjaan dicipta
KEJAYAAN DALAM Pendapatan Jualan berjumlah 126%

TAHUN LUAR BIASA RM16.36 bilion dari TK2020
Keuntungan Bersih
SALAM SIHAT DAN SEJAHTERA
PARA PIHAK BERKEPENTINGAN.
luar biasa berjumlah 337%
RM7.82 bilion dari TK2020
Dalam tahun yang tidak seperti

tahun yang lain, kami telah Jumlah pembayaran dividen
diingati bahawa kesihatan adalah luar biasa berjumlah 452%
nilai yang sangat penting. Ketika RM5.21 bilion dari TK2020
pandemik melanda, Top Glove

berusaha untuk meningkatkan RM2.2 bilion cukai pendapatan untuk
jumlah sarung tangan yang pembangunan negara dan pertumbuhan ekonomi
berkualiti untuk memenuhi
keperluan alat pelindung diri
(Personal Protective Equipment RM220 juta
untuk membina penginapan pekerja
atau PPE) yang terdesak, bagi
petugas kesihatan yang berada
di barisan hadapan untuk Perbincangan & Analisis Pihak Pengurusan RM191 juta
menentang COVID, dengan disumbangkan bagi bantuan pandemik untuk komuniti
keberanian. Bagi tahun kewangan 2021 (TK2021), Pendapatan Jualan Top Glove berjumlah
RM16.36 bilion, melonjak 126% daripada TK2020. Keuntungan Selepas Cukai
Semasa krisis global, kami juga (PAT) juga meningkat kepada RM7.82 bilion, peningkatan 337% berbanding RM44 juta dilaburkan dalam
menghadapi cabaran. Ini termasuk dengan tahun kewangan sebelumnya. Sementara itu, kedudukan tunai bersih inisiatif berkaitan ESG
pengenaan menghentikan eksport Kumpulan pada 31 Ogos 2021 berjumlah RM1.74 bilion. Prestasi TK2021
sarung tangan daripada operasi Kumpulan diringkaskan dalam carta berikut.
Malaysia ke Amerika Syarikat oleh
U.S. Customs and Border Protection PERINGKAT PRESTASI UNTUK TAHUN KEWANGAN 2021
(CBP), manakala kakitangan kami juga
terjejas oleh virus; peristiwa yang kami
Pendapatan, RM’ juta EBITDA, RM’ juta & Margin% Keuntungan Selepas Cukai Tunai Bersih/(Pinjaman), Pendapatan Sesaham, Sen Dividend Sesaham, Sen
menghadapi telah memberi banyak (PAT), RM’ juta & Margin% RM’ juta
pelajaran yang berharga ketika kami 63% 48% 2,343
berusaha untuk menyelesaikannya 16,361 33% 25%
1,743
dengan kejayaan. 95.9 65.1
+126%
10,285
Dalam semua ini, menyampaikan nilai
+338% +452%
dan pertumbuhan jangka panjang +325%
7,237 7,824
untuk pelbagai pihak berkepentingan +337%
kami, sambil melindungi nyawa tetap 31/8/2020 31/8/2021
menjadi keutamaan dan cita-cita kami 2,421 21.9 11.8
1,789
pada TK2021, sementara Top Glove
mengatasi halangan bagi menandakan
satu lagi tahun kejayaan dan ulang 31/8/2019
TK2020 TK2021 TK2020 TK2021 TK2020 TK2021 TK2020 TK2021 TK2020 TK2021
(2,251)
tahun ke-30 kami.
58 TOP G L O V E C O R P ORAT ION BHD I N TEG R AT E D A NNUA L RE P O RT 2 0 2 1 59

PERBINCANGAN & ANALISIS PIHAK PENGURUSAN PERBINCANGAN & ANALISIS PIHAK PENGURUSAN
Prestasi kewangan tahunan Kumpulan yang terpuji disebabkan oleh permintaan sarung tangan yang kukuh ditambah
dengan harga jualan purata (ASP) kuat yang meningkat kira-kira 138% sejajar dengan trend harga pasaran, didorong oleh
% CAMPURAN PRODUK MENGIKUT VOLUM DARI TK2011 HINGGA TK2021
pandemik yang berterusan.
Volum Jualan kekal konsisten berbanding TK2020, berikutan gangguan berselang dalam pengeluaran sarung tangan 60%
berikutan Perintah Kawalan Pergerakan Diperketatkan (PKPD) di asrama kami pada November 2020; Kes COVID di beberapa
kilang; PKPD di seluruh negeri Selangor pada Julai 2021 di mana industri sarung tangan tidak dibenarkan beroperasi selama
10 hari; serta lockdown berkaitan Perintah Kawalan Pergerakan (PKP) sepanjang tahun kewangan di mana kemudahan
yang terjejas terpaksa beroperasi pada kapasiti yang lebih rendah. Pengeluaran yang berkurang juga memberi kesan buruk 55%
47%
kepada penggunaan, mendorong kenaikan kos. 50%
Di samping itu, kami mengalami penghentian sementara penjualan dari operasi Malaysia kami ke Amerika Syarikat dari April 43%
2021 hingga Ogos 2021, berikutan pengenaan Finding oleh U.S. CBP, yang telah diubahsuai pada 10 September 2021.
Sementara itu, harga bahan mentah meningkat pada separuh masa pertama TK2021 berikutan kekurangan bekalan 40%
disebabkan peningkatan permintaan daripada industri sarung tangan. Asas keuntungan kami yang lebih besar pada TK2021 42%
juga menghasilkan penggunaan kadar cukai efektif yang lebih tinggi.
PERBANDINGAN VOLUM JUALAN (KUANTITI) TK2021 MENGIKUT RANTAU

30% 27%
26% 24%
22%
Amerika Utara Eropah Barat Eropah Timur Asia kecuali Jepun 19%
15 %
20 %
18 %
22 % 20% 23%
20%
11%
9%
9% 8%
10% 7%
2% 3% 2%
1%
Eropah Barat 0%
Amerika Utara Jepun
TK11 TK12 TK13 TK14 TK15 TK16 TK17 TK18 TK19 TK20 TK21
Eropah Timur
Asia Sarung Tangan
kecuali Sarung Sarung Tangan Sarung Tangan
tanpa serbuk Vinil/TPE/CPE
Jepun Tangan Nitril serbuk getah asli Pembedahan
Timur Tengah getah asli
Afrika Kedudukan
Pasaran Sejak 2020 Sejak 2004 Sejak 2018
Global
Amerika Latin
Sepanjang TK2021, kami mencatat peralihan permintaan secara bertahap daripada sarung tangan nitril kepada sarung
tangan getah asli, berikutan peningkatan kes COVID di pasaran baru muncul di mana sarung tangan getah asli diutamakan,
disebabkan oleh pelaksanaan vaksin yang lebih perlahan di negara-negara ini.
Walaupun demikian, campuran produk komprehensif kami ditambah dengan keupayaan untuk beralih secara strategik dari
pengeluaran sarung tangan nitril kepada sarung tangan getah asli, menjadikan kami berada dalam kedudukan yang baik
Amerika Latin Afrika Timur Tengah Jepun untuk menampung peralihan dalam keutamaan dan memenuhi keperluan pasaran yang berlainan, dengan itu mengurangkan
10% 2% 6% 7% risiko perniagaan.
Setelah berjaya mengubah operasi Aspion, kami terus menuai hasil pemerolehan kami, kerana kapasiti tambahan
membolehkan kami memenuhi permintaan sarung tangan segera dan menyumbang secara positif kepada keuntungan
bersih.

Lebih Dari Kewangan: Mengejar Masa Depan Yang Lestari Pembangunan Korporat
Top Glove telah melalui persekitaran yang sangat mencabar untuk melaksanakan dan menyampaikan agenda
pertumbuhannya.
Pengembangan Kapasiti Berterusan Sejajar Dengan Permintaan Global
Dalam melaksanakan peranan kami untuk memastikan bekalan sarung tangan yang tidak terganggu pada masa yang
penting, Kumpulan terus memulakan pengembangan kapasiti yang stabil pada TK2021. Walaupun permintaan sarung
tangan mula normal pada akhir tahun kewangan berikutan pelaksanaan vaksin yang pesat pada skala global, pertumbuhan
masih dijangka stabil pada paras yang tinggi selepas pandemik surut, berbanding dengan pertumbuhan sebelum pandemik
sebanyak 10% setahun.
Oleh itu, rancangan pelaburan sedang dijalankan untuk pertumbuhan masa depan. Top Glove akan terus memulakan
pengembangan kapasiti organik yang akan diselaraskan agar sejajar dengan permintaan sarung tangan global dan
situasi bekalan, membina kilang-kilang baharu dan berteknologi maju yang menampilkan lebih banyak automasi dan
pengkomputeran, sambil meningkatkan taraf kemudahan sedia ada juga. Menjelang 31 Disember 2025, Top Glove dijangka
mempunyai sejumlah 59 kilang yang terdiri daripada 46 kilang sarung tangan dan 13 kilang lain-lain, 1,486 barisan
pengeluaran sarung tangan dan kapasiti pengeluaran sarung tangan sebanyak 201 bilion sarung tangan setahun. Pelan
pengembangan organik Kumpulan bagi tahun 2021 hingga 2025 diperincikan di bawah:
Jumlah Kapasiti, bil sehelai

+24%
+39 201
+18%
+23% +25
Lawatan kunjungan hormat ke Top Glove oleh Kementerian Kesihatan pada 8 Januari 2021 +11% +26
(Kelima dari kiri ke kanan) Dato’ Dr. Chong Chee Kheong, Timbalan Ketua Pengarah Kesihatan (Kesihatan Awam), Dr. B. Venugopalan, +11
Timbalan Pengarah Negeri Selangor, Dr. Arinah Wan Deh Sze, Pakar Kesihatan Awam and Dr. Mas Norehan, Pegawai Khas 100
90
Sama pentingnya dengan keputusan kewangan yang disampaikan adalah bagaimana ia telah dicapai. Sebagai peneraju
industri, kami komited sepenuhnya untuk melaksanakan tanggungjawab kami sebagai warga korporat global dan terus
meningkatkan usaha kami merentasi tonggak Kelestarian Alam Sekitar, Sosial dan Tadbir Urus (ESG), dengan penuh
perhatian bahawa kami boleh dan harus sentiasa berusaha untuk melakukan yang lebih baik.
Ke arah integrasi ESG yang lebih mendalam ke dalam perniagaan dan menandakan permulaan usaha yang lebih besar
2020 2021 2022 2023 2024 2025 2025
yang akan datang, kami mengisytiharkan TK2021 sebagai Tahun ESG untuk Top Glove, yang telah menyaksikan penentuan
Dis Sept Dis
sasaran jangka pertengahan yang bercita-cita tinggi untuk dicapai pada TK2025. Pada masa yang sama, Kumpulan sedang
meneroka penetapan sasaran berasaskan sains dengan perunding luar, ke arah mewujudkan pelan hala tuju pelepasan
karbon sifar bersih. Sementara itu, Kumpulan berkomit untuk melaburkan sebanyak RM600 juta bagi penubuhan Loji Pemprosesan Lateks
NBR (getah nitrile butadiene) di Banting, Selangor untuk memastikan bekalan dan kualiti lateks NBR yang konsisten, dan
Sebagai majikan pilihan kepada tenaga kerja seramai 22,000 orang, kami komited untuk menjadi syarikat terbaik, untuk mengurangkan kesan turun naik harga. Pembinaan loji ini akan dijalankan dalam 4 fasa, dengan Fasa 1 dijangka akan
kakitangan kami. Ini termasuk mengadakan Polisi Pengambilan Kos Sifar, penginapan yang selesa dan saluran pengaduan memulakan operasi menjelang Suku Pertama Tahun Kalendar 2022 dengan kapasiti 50,000 tan dan siap menjelang Suku
untuk pekerja asing kami, serta inisiatif kesihatan dan keselamatan yang kuat. Pada Januari 2021, operasi kami juga Keempat Tahun Kalendar 2024 dengan jumlah kapasiti sebanyak 200,000 tan.
disahkan oleh perunding antarabangsa U.K. pihak ketiga bahawa Top Glove bebas daripada semua 11 petunjuk buruh
paksa sistematik Pertubuhan Buruh Antarabangsa (ILO). Sedang berlansung juga ialah Loji Sterilisasi Gamma di Klang, Selangor, yang bertujuan untuk mengurangkan risiko
kepekatan dan mempercepatkan proses pensterilan sarung tangan pembedahan, ke arah memendekkan waktu untuk
Baca lebih lanjut mengenai usaha dan komitmen Kumpulan untuk merangkakan strategi pertumbuhan yang mampan dipasarkan. Fasa 1 loji ini dijangka akan beroperasi pada tahun Suku Pertama Tahun Kalendar 2022 manakala Fasa 3
semasa Tahun ESG Top Glove dan seterusnya, pada halaman 88. dijangka siap menjelang Suku Ketiga Tahun Kalendar 2023. Kemudahan ini yang mempunyai anggaran CAPEX sebanyak
RM65 juta, akan dapat menyediakan pensterilan untuk 1 bilion keping sarung tangan pembedahan setahun.

Membina Perniagaan Yang Kalis Masa Depan Melalui Penyelidikan dan Pembangunan (R&D) dan Teknologi Maju Rekod Dividen Tinggi dalam Tahun yang Luar Biasa
Penyelidikan dan Pembangunan (R&D) dan teknologi terus dikuasakan oleh mesin pembungkusan canggih dan Selaras dengan komitmen teguh
mendorong penambahbaikan dan inovasi di Top Glove dan kenderaan autonomi, pengendali kami juga menikmati kami untuk memberi ganjaran dan
kami akan terus membina keupayaan kami dalam bidang- persekitaran kerja yang lebih sihat sambil memastikan berkongsi kejayaan dengan lebih
bidang penting ini. pelanggan kami menerima sarung tangan berkualiti tinggi kurang 136,000 pemegang saham
yang dibuat dalam keadaan kebersihan yang optimum. setia kami, kami mengisytiharkan
Pada 1 November 2021, Bahagian Penyelidikan dan jumlah dividen tahunan berjumlah
Pembangunan (R&D) kami mempunyai 1,375 penyelidik, Kami juga melabur dalam Sistem Pengurusan Operasi 65.1 sen sesaham atau RM5.21
yang ditempatkan di Pusat R&D dan jabatan kilang. Jumlah Perkilangan untuk menyatukan setiap peringkat operasi bilion, yang mewakili peningkatan
kumpulan intelektual penyelidik dalam Kumpulan terdiri kami: perancangan, pengeluaran, pemeriksaan, inventori, sebanyak 452% daripada dividen
daripada 39 pemegang PhD, 137 pemegang Ijazah Sarjana, dan logistik, akhirnya mencapai integrasi penuh dengan tahun penuh untuk TK2020
1,158 pemegang Ijazah Sarjana Muda dan 41 dengan sistem ERP kami. Memuncak dalam “Supply Chain Control sebanyak 11.8 sen sesaham. Kami
kelayakan lain, yang membolehkan kami menjalankan Tower”, integrasi di seluruh perusahaan ini akan memberi juga berbesar hati untuk membuat
penyelidikan multidisiplin untuk kelangsungan perniagaan pasukan kami pemahaman yang lebih mendalam mengenai pembayaran dividen suku tahunan
masa depan. proses yang dikuasakan oleh sistem AI untuk mengenalpasti bagi TK2021.
dan mengatasi masalah pengeluaran.
Pada masa ini, Top Glove telah menubuhkan 10 Pusat R&D,
7 yang berpusat di Malaysia, 2 di Thailand dan 1 di China, Semua ini dan banyak lagi akan dimasukkan ke dalam PIKAS: Top Glove mengatur program
masing-masing mengkhusus dalam bidang penyelidikan bukan sahaja kilang kami yang sedia ada, tetapi juga akan vaksin COVID di bawah Program
yang berbeza, membolehkan Kumpulan menyesuaikan diri dimasukkan ke dalam Kampus Inovasi Top Glove (TGIC) Imunisasi Industri COVID Kerjasama
Awam Swasta (PIKAS) pada 19 Julai
dengan trend yang cepat berubah dalam pasaran global. yang baru sebagai hab seni untuk pembuatan dan R&D.
2021 di Meru, Klang, Selangor.
Selanjutnya, 2 lagi Pusat R&D sedang dalam perancangan, Menampilkan yang terbaik dalam teknologi pembuatan
1 daripadanya akan memberi tumpuan sepenuhnya kepada sarung tangan, TGIC akan menjadi tonggak utama kami
IR 4.0 dan pembuatan, dilengkapi dengan teknologi dan yang seterusnya dalam pembuatan sarung tangan, sebagai
automasi terkini. tanda komitmen kami ke arah penambahbaikan berterusan
Tindak Balas COVID Kami: Mengutamakan Kesihatan & Keselamatan
dan penghantaran sarung tangan berkualiti tinggi secara
Selama bertahun-tahun tumpuan kami yang kuat terhadap konsisten pada kos rendah yang cekap. Fasa 1 TGIC
Walaupun kami mempertingkatkan usaha pengeluaran Sebagai langkah pencegahan selain daripada mengikut
R&D telah menghasilkan kemajuan dan penemuan yang dijangka memulakan operasi menjelang Suku Ketiga Tahun
sarung tangan, kami menyedari keperluan untuk SOP, Syarikat telah melabur kira-kira RM7 juta setakat ini,
telah menyaksikan penubuhan barisan pengeluaran Kalendar 2022, manakala siap disasarkan menjelang Suku memastikan kami melakukannya dengan selamat, dengan untuk ujian COVID pekerjanya.
canggih, sistem Pengandalian Sarung Tangan Robotik dan Kedua Tahun Kalendar 2025 dengan kapasiti 20 bilion tumpuan yang tajam terhadap kesejahteraan pekerja
sistem Pengurusan Operasi Bersepadu, kamera penglihatan sarung tangan setahun. dan komuniti yang kami berkhidmat. Untuk tujuan ini, Untuk mengurangkan perjalanan berulang alik dan
AI dan lengan robotik, yang akan membolehkan kita kekal langkah-langkah pencegahan COVID telah dilaksanakan pendedahan kepada risiko, Syarikat menyediakan
berdaya saing dalam jangka masa panjang. Sejajar dengan itu, Top Glove komited untuk memastikan sejak bermulanya pandemik, dan terus disesuaikan dan makanan vegetarian yang sihat bersubsidi, yang dihantar
kesan kami terhadap alam sekitar tetap rendah, dan dipertingkatkan mengikuti keadaan yang berkembang setiap hari ke kilang dan pejabat kakitangan, di mana
Pelbagai produk penjagaan rumah, peribadi dan mulut yang menerapkan sistem untuk mengatur dan mengekalkan pesat. Ini termasuk penguatkuasaan yang ketat terhadap kami telah melabur sebanyak RM7.2 juta pada TK2021.
komprehensif termasuk cecair pembasmi kuman, pencuci keharmonian antara operasi kami dan alam sekitar. Untuk prosedur operasi standard (SOP) COVID, serta penjarakan Di bawah skim ini, pekerja hanya perlu membayar RM1
tangan anti bakteria, cecair pencuci pinggan mangkuk dan memastikan operasi kami mampan, kami mempunyai sosial di kilang dan penginapan pekerja kami, manakala untuk makanan vegetarian yang sihat. Sementara itu,
pemeriksaan tempat kerja tetap juga dijalankan untuk pembayaran tanpa tunai di kantin kami dan juga untuk
pencuci lantai yang dihasilkan oleh Top Glove Healthcare pelbagai projek yang sedang dijalankan untuk memantau
memastikan pematuhan berterusan terhadap peraturan katering, telah dilaksanakan. Menerapkan normal baharu,
Centre (TGHC), muncul sebagai produk penting semasa dan menguruskan sumber tenaga, gas, dan air, serta
Kerajaan Malaysia kepada standard tertinggi. Latihan juga Top Glove melaksanakan Polisi Kerja Dari Rumah
pandemik, melengkapkan perniagaan sarung tangan pelaburan berterusan ke dalam proses solar, Industrial dilancarkan untuk memberi kesedaran dan menekankan (WFH) semasa pandemik, memanfaatkan teknologi
teras kami. TGHC, yang ditubuhkan oleh pasukan R&D, Effluent Treatment System (IETS) maju, dan proses bahan keperluan untuk mematuhi langkah pencegahan dan SOP. untuk mengaktifkan mesyuarat dalam talian dengan
merupakan syarikat yang disahkan ISO 9001:2015 (SPK) kitar semula. cepat, latihan dan pemeriksaan secara virtual mengikut
dan ISO 22716:2007 (cGMP), TGHC juga telah diluluskan Berikutan penghentian sementara kilang kami di Meru dari keperluan, membolehkan perniagaan beroperasi seperti
oleh Agensi Regulatori Farmasi Negara (NPRA). Semua Kami juga terus mengembangkan infrastruktur pembuatan 17 November 2020 hingga 14 Disember 2020, kemudahan biasa dalam persekitaran yang luar biasa. Kebanyakan
produk TGHC diformulasikan dengan keutamaan kepada awan kami dan membina “Grand Data Terminal” kami yang terjejas telah menjalani proses sanitasi yang ketat mesyuarat dan latihan terus dijalankan secara virtual
bahan-bahan semulajadi, kandungan kimia yang minimum dengan menggunakan teknologi pengkomputeran IIoT, dan dibuka semula dengan langkah-langkah kesihatan walaupun tenaga kerja kembali ke pejabat.
dan bebas kekejaman. WIFI6 dan Edge untuk menyambungkan ribuan titik data dan keselamatan yang diperkukuhkan.
ke rangkaian. Bagi memanfaatkan penganalisis dan bakat Aplikasi Pembelajaran Pekerja TG (TGWLA) juga
Pada 19 Julai 2021, Top Glove memulakan penyertaannya diciptakan secara dalaman, membolehkan pekerja
Dari perspektif teknologi, kilang kami terus maju ke arah digital kami, kami menyalurkan semua data ini ke dalam
dalam Program Imunisasi Industri COVID Kerjasama kami melakukan pembelajaran berasaskan mudah alih.
mekanisasi yang lebih tinggi. Berdasarkan persiapan papan pemuka dan laporan analisis yang menyajikan
Awam Swasta (PIKAS), perkongsian antara sektor awam Tambahan pula, pengecaman wajah bagi menggantikan
automatik, sistem kawalan talian dan sistem pemeriksaan pandangan tambahan kilang-kilang kami dalam masa dan swasta yang bertujuan untuk mempercepatkan pengimbasan jari untuk akses ke premis kami telah
visual AI, kami terus berusaha ke arah merealisasikan visi terdekat. Dan sebagai bonus, dengan mendigitalkan imunisasi pekerjanya. Sehingga kini, 99% pekerjanya dilancarkan bagi meminimumkan hubungan fizikal untuk
kami tentang system pengeluaran dan pembungkusan laporan ini, kami juga mengurangkan penggunaan kertas, di Malaysia telah divaksin sepenuhnya manakala bagi permukaan sentuhan tinggi.
pintu “tanpa sentuhan”. Dengan kemudahan kami yang sejajar dengan hala tuju kami tidak menggunakan kertas. Kumpulan, 98.8% telah divaksin sepenuhnya.

Anugerah Dan Penghargaan Modification Ke Atas Finding oleh U.S. CBP Pandangan & Prospek Penghargaan Yang Tulus
Top Glove juga berbesar hati kerana telah Berikutan Modification ke atas Finding oleh U.S. CBP, operasi Top Melihat ke hadapan, kami yakin bahawa permintaan Dalam masa yang paling mencabar, kami belajar dengan
memperoleh beberapa anugerah di The Edge Glove Malaysia telah dibenarkan untuk mengeksport dan menjual terhadap sarung tangan akan terus meningkat, meningkat penuh kebanggaan ukuran penuh ketahanan kami sebagai
Singapore Billion Dollar Club 2021 (BDC) yang sarung tangan ke Amerika Syarikat efektif pada 10 September antara 10% hingga 15% setahun, didorong oleh syarikat untuk bangkit dalam menghadapi kesukaran dan
berprestij. Di bawah sektor Perkhidmatan Kesihatan 2021, menunjukkan bahawa Kumpulan telah menangani semua peningkatan tahap kesedaran dan standard kebersihan terus maju dengan kuat.
& Farmaseutikal, ia memenangi 3 anugerah iaitu Best petunjuk pekerja paksa yang dikenalpasti di kemudahannya di yang tinggi dalam sektor perubatan dan bukan perubatan.
Performing Stock, Fastest Growing Company dan Malaysia. Perkembangan positif ini diharapkan dapat meningkatkan Pertumbuhan permintaan juga akan disokong oleh Kami ingin mengucapkan terima kasih yang tulus kepada
Best in Sector dan yang seterusnya, juga dinobatkan penjualan dari operasi Top Glove Malaysia ke Amerika Syarikat, yang kemunculan virus baharu, walaupun ketika pandemik Lembaga atas nasihat bijak mereka dan penglibatan
sebagai Pemenang Keseluruhan untuk tahun 2021 di menyumbang 15% daripada jumlah penjualan TK2021 Kumpulan. beralih kepada endemik dan dunia mulai “hidup dengan mereka, yang sangat berharga dalam menavigasi perairan
antara 90 syarikat lain di BDC tahun ini. COVID”. Selain itu, dengan penjualan semula ke Amerika yang kasar dan membantu mengarahkan syarikat dengan
Perjalanan kami ke pengubahsuaian sangat bermakna, di mana kami Syarikat yang merupakan pasaran utama untuk Top Glove, selamat ke darat.
Lebih mengukuhkan kedudukannya sebagai muncul sebagai Top Glove yang lebih baik dan kuat hari ini. Kami sangat kami optimistik terhadap peningkatan dalam Volum Jualan
majikan pilihan, syarikat ini telah diiktiraf di HR gembira kerana telah menyelesaikan pembayaran pemulihan lebih pada suku-suku akan datang. Kepada kakitangan kami, Top Glovers kami, anda telah
Asia Awards Best Companies to Work for in dari RM150 juta kepada lebih dari 13,000 pekerja migran yang telah menghadapi cabaran pada masa yang belum pernah terjadi
Asia, untuk tahun ke-5 berturut-turut pada bulan membayar yuran pengambilan dan kos yang berkaitan dengan ejen Ini tidak bermaksud tidak akan adanya cabaran. Kami sebelumnya dengan komitmen yang tiada tandingannya.
Mac 2021. Pada bulan Jun 2021, Top Glove juga perekrut, membuat penambahbaikan yang besar untuk penginapan menjangka bahawa ASP akan terus menyusut secara Ucapan terima kasih kami yang mendalam atas sikap
memperoleh banyak kemenangan di Human pekerja dan melaksanakan talian bantuan pekerja yang diuruskan industri, manakala pelanggan menggunakan sikap “tunggu rajin dan tekun atas kerja keras dan dedikasi anda, yang
Resources Excellence Awards 2020, dalam bidang secara bebas di antara inisiatif lain. Ini hanya permulaan untuk kami dan lihat” dengan jangkaan ASP mencapai tahap normal. telah membolehkan syarikat kami mengharungi tahun
HR Excellence in Leadership Development (Emas), dan kami berinspirasi untuk terus menjadi syarikat yang terbaik di mana Persaingan dari pengeluar, terutama dari luar negara juga yang mencabar dan muncul dengan lebih kuat. Anda telah
HR Excellence in Talent Management (Perak), Most kami dapat memastikan kesihatan, keselamatan dan kesejahteraan semakin rancak. membuat kami bangga. Kami lebih berbesar hati untuk
People Focused CEO (Perak) dan HR Excellence orang kami sentiasa dijaga. menyaksikan sikap tidak mementingkan diri sendiri, untuk
in Corporate Wellness (Gangsa). Top Glove juga Walaupun persekitaran perniagaan dijangka sukar, kami menghantar makanan dan keperluan setiap hari kepada
dinobatkan sebagai Pemenang di Best Employer bersedia dengan baik. Aliran tunai yang kuat yang telah rakan-rakan kami yang terjejas oleh PKPD. Syabas, anda
Brand Graduates’ Choice Awards 2021 dalam kami bina sepanjang TK2021 akan membolehkan kami telah benar-benar membuat kami bangga.
kategori Pengeluaran dan juga memenangi Gangsa Untuk lihat pernyataan yang dikeluarkan oleh U.S CBP mengenai
membiayai pengembangan berterusan dan juga merebut
perkara ini, sila imbas kod QR atau layari pautan ini; https://
di Employee Experience Awards 2021 (Malaysia) public-inspection.federalregister.gov/2021-19535.pdf peluang untuk penggabungan dan pemerolehan (M&As) Kepada pelanggan, pembekal, pemegang saham dan pihak
untuk Best Employer Branding. apabila timbul. Sejajar dengan itu, kami juga akan terus berkepentingan kami yang lain; terima kasih atas sokongan,
melabur dalam R&D dan memanfaatkan teknologi canggih maklum balas dan kritikan, yang memberi inspirasi dan
untuk menyusun semula proses kami ke arah kualiti produk, mendorong kami untuk melakukan lebih banyak perkara
kecekapan dan inovasi yang lebih tinggi. dan melakukan yang lebih baik, menghasilkan yang terbaik
dalam diri kami.
Prestasi TK2021 kami yang kuat dalam menghadapi
persekitaran operasi yang sukar juga memberi kami alasan Kami juga mengambil kesempatan ini untuk mengakui dan
yang baik untuk optimis tentang masa depan; kerana kami memberi tabik hormat kepada petugas barisan hadapan
telah melihat daya tahan kakitangan kami, yang telah dan pengamal perubatan kami yang terus menjalankan
mendorong kemampuan kami untuk menyesuaikan diri dan tugas mereka dengan penuh keberanian dan pengorbanan
berkembang maju dalam keadaan yang paling mencabar. yang besar. Anda adalah wira negara kami dan ia adalah
satu penghormatan yang berbeza untuk menyarung
Inilah sebabnya mengapa kami masih berani beroptimis. tangankan anda dan rakan-rakan petugas barisan hadapan
Rancangan bercita-cita tinggi kami untuk masa depan anda di seluruh dunia.
tetap kukuh termasuk untuk menjadi syarikat Forbes dan
Fortune Global 500, menjelang tahun 2030. Kami juga akan
terus mengejar penyenaraian utama berganda di Bursa
Saham Hong Kong (HKEX) dimana kami telah membuat TAN SRI DR LIM WEE CHAI
penyerahan semula pemohonan A1 pada 28 Oktober 2021. Pengerusi Eksekutif
Top Glove Corporation Bhd
Ulang tahun ke-30 kami mungkin bertepatan dengan tahun 2 November 2021
yang paling mencabar, tetapi kami terus maju ke hadapan,
dengan keyakinan sepenuhnya daripada sokongan yang DATO’ LEE KIM MEOW
berterusan dari Top Glovers kami akan memastikan syarikat Pengarah Urusan
kekal cergas dan berada dalam kedudukan yang baik untuk Top Glove Corporation Bhd
meraikan lebih banyak ulang tahun yang akan datang. 2 November 2021
Yayasan Top Glove menyumbangkan RM100,000 serta peralatan perlindungan diri yang terdiri daripada sarung tangan, pelitup muka dan
cecair pembasmi kuman yang dihasilkan oleh Top Glove kepada Ibu Pejabat Polis Daerah Shah Alam pada 15 Jun 2021
(Dari kanan) Cik Ng Mei Fong, Pengurus Kanan Yayasan Top Glove, Dato’ Abdul Rahim B. Abdullah, Penasihat Hal Ehwal Kerajaan dan Tuan
ACP Baharudin Bin Mat Taib, Ketua Polis Daerah Shah Alam, diiringi bersama pegawai-pegawainya

致权益持有人的信函及致权益持有人的信函及
管理层讨论与分析
管理层讨论与分析
集团于2021财务年取得无以伦比的价值增长
并与权益持有人共享佳绩
极具象征性的一
创造了9,720个工作岗位
工作岗位
年，创造价值，
共享佳绩历史新高的销售额
销售额相比FY2020
126%
马币163.6亿
诸位权益持有人，您好，非凡的净利润
净利润相比FY2020
祝您身体安康。马币78.2亿 337%
在这史无前例的一年史无前例的总股息支付
总股息支付相比FY2020
里，我们领略到了健马币52.1亿 452%

康乃真正重要的财
富。随着疫情的肆马币22亿的所得税
所得税贡献于国家建设
和经济增长
虐，顶级手套加强高
品质手套的生产量，马币2.2亿投入于兴建员工住宿
员工住宿
以满足医护人员在前
线为全球对抗新冠病管理层讨论与分析
马币1.91亿捐赠
捐赠于社区疫情救济
毒时，对个人防护用
于2021财务年，顶级手套销售额达至马币163.6亿，较2020财务年飙升
品（PPE）的迫切需 126%。净利润亦增长至马币78.2亿，相比上一财务年飞涨337%。与此同
时，截至2021年8月31日，集团净现金流处于健康水平，为马币17.4亿。马币4,400万投资于ESG相关举措
ESG相关举措
求。以下图表总结集团2021财务年的业绩表现。
全球陷入危机的当儿，集团自身亦 2021财务年业绩里程碑
面临挑战。其中包括美国海关及边
境保护局（CBP）暂停我们于马来
营业额，马币 ’ 百万营运盈利，马币 ’ 百万 & 赚利 % 净利润，马币 ’ 百万 & 赚利 % 净现金 / (借贷)，马币 ’ 百万每股收益，仙每股股息，仙
西亚出口至美国的手套业务，同时
集团员工亦受到病毒的影响；我们 33%
63%
25%
48% 2,343
16,361 1,743
从解决此些事件中获得了许多宝贵 65.1
95.9
的启发。 +126%
10,285
+338% +452%
在集团为诸位权益持有人提供长期 +325%
7,237 7,824
+337%
价值及增长的同时，集团致力以保 31/8/2020 31/8/2021
卫生命为2021财务年的首要任务及 2,421 21.9 11.8
1,789
宏伟壮志。顶级手套必将克服重重
障碍，并创下另一极具象征性的一 31/8/2019
FY2020 FY2021 FY2020 FY2021 FY2020 FY2021 FY2020 FY2021 FY2020 FY2021
年，于集团的30周年庆。 (2,251)

管理层讨论与分析管理层讨论与分析
集团优秀的年度财务业绩归功于高涨的手套需求量以及强劲的平均销售价。随着疫情持续的肆虐，配合市场定价趋
势，平均销售价上涨了约138%。 2011财务年至2021财务年产品组合销售数量百分比
相比2020财务年，销售量保持于同样水平，随着以下因素：2020年11月于集团宿舍实施的加强行管令（EMCO）导 60%
致手套生产间歇性中断；部分工厂出现的新冠病例；2021年7月于雪州落实的全州EMCO，在此期间手套领域10天
不被获准运营；以及整个财务年内与行动管制令（MCO）相关的封锁而导致此期间受影响设施必须降低其运营产
能。产量的减少亦对设施使用率带来不利影响，并推高生产成本。 55%
47%
50%
不仅如此，随着美国CBP对顶级手套颁布的调查结果，集团于2021年4月至2021年8月期间被迫暂停由马来西亚销售
43%
至美国的手套业务，该禁令已于2021年9月10日解除。
与此同时，基于手套需求量增加所导致的供应短缺，原材料价格于2021财务年首半年上涨。随着2021财务年丰厚的 40%
42%
利润，集团因此必须缴付更高的有效税率。
2021财务年各地区销售量（数量）比较
30% 27%
26% 24%
22%
北美洲西欧东欧亚洲（日本除外） 19%

20%
15 20 18 22
23%
% % % % 20%
11%
9%
9% 8%
10% 7%
2% 3% 2%
1%
西欧 0%
北美洲日本
FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
东欧
亚洲
（日本除外） PVC手套/TPE手套/
丁月青手套无粉天然乳胶手套有粉天然乳胶手套手术手套
中东 CPE手套
非洲
全球市场
自2020年自2004年自2018年
排名
拉丁美洲
于2021财务年期间，发展中国家疫苗推出速度缓慢，致使其国家新冠病毒案例的提升。基于天然乳胶手套为他们的
首选，集团意识到需求量逐渐从丁腈手套转至天然乳胶手套。
尽管如此，集团全面化的产品组合，加上战略性地转换生产线于丁腈手套及天然乳胶手套之间的能力，促使集团得
以更好地满足及迎合各个市场的需求，从而降低其业务风险。
拉丁美洲非洲中东日本
10% 2% 6% 7% 在顶级手套将稳利集团的营运成功扭转后，新增产能使集团得以满足手套紧迫的需求量并提供可观的净利润，让集
团持续品尝收购带来的成效。

不局限于财务表现：追求永续未来相应地，集团于未来增长议程中，投资计划陆续有来。顶级手套将持续其有机产能的扩展，根据全球手套供需情况
进行适当的调整，建立更多具备自动化及电脑化的先进工厂，同时为现有设施提供升级。截至2025年12月31日，顶
级手套预计将拥有59间工厂，其中包括46间手套工厂和13间非手套工厂，1,486条手套生产线及2,010亿只手套年产
量。
集团2021年至2025年的有机扩展计划详述如下：
总产能，亿只
+24%
+390 2,010
+18%
+23% +250
+11% +260
+110
1,000
900
2020 2021 2022 2023 2024 2025 2025

十二月九月十二月
于2021年4月17日，顶级手套与国立台湾大学马来西亚校友会合作意向书的签约仪式
集团财务业绩固然重要，但与其并列重要性乃实践此业绩的过程。作为领域的领军者，我们致力于履行身为全球企业于此同时，集团致力于投入马币6亿兴建位于雪州万津目前，顶级手套已成立10所研发中心，其中的7所位于马

公民的责任，并持续加强集团于永续发展支柱：环境、社会及治理（ESG）方面的努力，时刻谨记我们有能力并有义的一间丁腈乳胶（NBR）加工厂，以更好地确保丁腈乳来西亚，2所位于泰国及1所位于中国，每所研发中心分
务献出更佳的表现。胶的稳定供应及质量，并减少因原材料价格波动所带来别专注于不同领域的研究，使集团能够适应全球市场迅
的影响。该工厂的建立将分成四个阶段进行，第一阶段速变化的趋势。除此之外，另外2所研发中心正在筹备当
为将ESG元素更深入地融入于业务当中，并象征于此领域未来更大努力的开端，集团宣布2021财务年为顶级手套的预计将展开于2022年第三季度，产能为5万吨，而工厂中，其中1所将配备最新科技及自动化设施，并专注于工
ESG之年，并已制定了于2025财务年前，励志达到的中期目标。同时，本集团正着手与外部顾问探讨以科学为基础的将于2024年末季度竣工，总产能为20万吨。业4.0及生产。
目标设定，以便使净零碳排放的路线图更为明确。
集团正进行中的扩展亦包括位于雪州巴生的伽马消毒工多年以来，集团对研发的高度重视取得了进步及突破，
作为22,000名员工的首选雇主，我们致力于成为力所能及的最佳企业。这包括为集团外籍劳工制定零成本招聘政策、厂，旨在降低手术手套的集中性风险并加快消毒过程，其中包括：先进生产线的建设、机器人手套处理系统和
提供舒适住宿和设立申诉管道、以及完善的健康，安全和安保措施。于2021年1月，集团运营亦获得了独立第三方国以便缩短上市的时间。该工厂第一阶段目标于2022年首综合运营管理系统、人工智能视觉摄像头及机械臂，都
际英国顾问的验证，证明集团没有触发国际劳工组织（ILO）11项系统性强迫劳动指标的任何一项。季度投入运作，而最后的第三阶段预计将于2023年第三将使集团长期保持其竞争能力。
季度完成。该设施的资本支出估计为马币6,500万，每
欲知更多有关顶级手套于ESG之年及未来为永续增长策略所贡献的努力及承诺，请参阅第88页。年将能提供消毒于10亿只的手术手套。顶级手套医疗保健中心（TGHC）生产一系列综合
居家、个人及口腔护理产品，包括：消毒液、抗菌
企业发展通过研发及先进科技推动集团业务迈向未来洗手液、洗碗液及地板清洁剂，疫情肆虐期间突
显了此些产品的重要性，亦为集团核心手套业务
顶级手套于此充满挑战的环境中斗志昂扬，坚持履行及实践其增长议程。研发及科技依然是顶级手套改进和创新的关键驱动力，增添补助。TGHC，由研发团队创立，乃一所通过
我们将持续在这至关重要的领域提升自身的能力。 ISO 9001：2015 (QMS) 和 ISO 22716：2007 (cGMP) 认证
顺应全球手套需求量持续扩展产能的 ISO 合法企业，及获得国家药品管制局（NPRA）的
截至2021年11月1日，我们的研发部门总共有1,375名研究批准。所有 TGHC 产品配方均优先采用天然原料、最
2021财务年，集团为确保关键时期不间断的手套供应，正持续稳步扩大其产能。尽管手套需求量于财务年后期尾随人员，分布于研发中心内及工厂部门。集团内研究人员少量的化学成分且零伤害。
全球疫苗迅速推出后逐渐缓和下来，但预计其增长将于疫情消退后稳定于较高水平，相较疫情爆发前10%的年增长的智囊库包括：39名博士学位持有者、137名硕士学位持
率。有者、1,158名学士学位持有者及41名具有其他资格的人
员，促使集团得以为未来业务永续发展进行多学科研究。

从科技角度来看，集团工厂持续迈向机械化发展。为进一步巩固集团作为首选雇主的地位，顶级手套虽然运营环境预计将会非常艰难，但我们已做好充分的准

通过自动化配方的筹备、生产线管控系统及人工智我们的抗疫响应：于2021年3月连续五年蝉联 HR Asia 亚洲最佳企业雇备。集团于2021财务年期间建立的强大现金流储备将使我
能视觉检测系统，集团努力迈向 “ 零接触 ” 的智能生健康及安全为首要任务主的奖项。于2021年6月，顶级手套于 2020年人力们得以提供资金于持续扩展业务，并在适当的时候抓紧价
产及包装系统。凭着集团顶尖的设施，最为先进的资源卓越大奖中获颁多项殊荣，其中包括人力资源值并购的良机。与此同时，集团亦将继续投资于研发，并
包装机器和自动驾驶车辆，集团员工亦得以享受更集团于增强手套生产的同时，我们也意识到确保安全生卓越领导能力发展（金）、人力资源卓越人才管理利用先进科技来重新设计我们的生产流程，以迈向提高产
健康的工作环境，同时确保集团客户一贯地获得于产的必要性，并提高对集团员工及我们所服务社区福祉（银）、以人为本首席执行长（银）及人力资源卓品质量、效率及创新。
最佳卫生条件下生产的高品质手套。的关注。为此，自疫情爆发以来，集团已采取新冠病毒越企业健康（铜）。此外，顶级手套亦获颁 2021年
预防措施，并不断根据变化迅速的疫情来进行调整及加品牌毕业生首选奖项之制造领域类别的最佳雇主，面对严峻的运营环境，集团于2021财务年的卓越表现亦让
此外，集团亦投入资金于制造运营管理系统，以将强。其中包括：严格执行的新冠病毒标准作业程序，保同时于 2021年雇员体验奖项（马来西亚）中获得最我们有充分的理由对未来持乐观态度；尤其于此期间我们
每个运营阶段联系在一起，此些阶段乃：计划、生持社交距离于工厂和员工住宿，同时亦进行定期突击佳雇主品牌的铜奖。见证了集团员工的韧性，在集团最艰难的时期得以适应并
茁壮成长。
产、检验、库存及物流，目标将与集团ERP系统合检查于确保以最高标准遵守马来西亚政府制定的条规。
成为一。身处 “ 供应链管制塔 ” 的顶峰，此全企业化此外，为了提升意识并加强遵守预防措施和标准作业程美国CBP对调查结果的修改
这亦解释为何集团仍勇敢于追求梦想。我们对未来的雄心
的结合将使团队更深入了解由人工智能系统驱动的序，集团亦展开了一系列的培训。
壮志始终如一，包括于2030年前跻身福布斯和财富世界500
流程，以识别及克服生产瓶颈。随着美国CBP修改对于顶级手套的调查结果后，即
强之排行榜。我们亦将持续进行双边主要上市于香港交易所
于2020年11月17日至2020年12月14日，随着集团暂停位于 2021年9月10日起，顶级手套于马来西亚的营运已获
（HKEX），为此集团已于2021年10月28日重新提交上市申请。
此些举措将不仅实施于集团现有工厂，亦会被嵌巴生中路工厂的营运，我们对受影响设施进行严谨的消准恢复向美国出口以及销售手套，这亦象征着集团
入至新的顶级手套创新园区（TGIC)，乃集团目前毒过程，并通过加强健康及安全措施以获准重新开放。已成功解决所有于马来西亚设施的强迫劳动指标。集团成立30周年或恰逢我们迄今最具挑战性的一年，但我
最为先进的制造及研发中心。凭着顶级手套一流的此正面发展预计将推动顶级手套于马来西亚分部出们坚定地迈向未来的日子，亦满怀信心凭着顶级手套成员
手套制造科技，TGIC将成为集团于手套制造领域顶级手套于2021年7月19日参与一项公共与私人领域之口至美国的销售量，其市场平均占据集团2021财务年坚定不移的支持，将确保集团永保强健并准备好迎接未来
中下一个重要的里程碑，这亦展示我们对持续改进间合作的疫苗项目：公私合作工业免疫计划（PIKAS）总销售量的15%。更多的周年纪念日。
及秉持以高效率低成本提供一贯高品质手套的承，旨在加速员工的疫苗接种。迄今，马来西亚99%的员
诺。TGIC首阶段预计将于2022年第三季度开始运工已完成双剂疫苗接种，而全集团内完成第二剂疫苗接集团对调查结果修改前的经历感到极具意义及谦衷心感谢
营，竣工日则预计为2025年次季度，并提供200亿只种的员工达98.8%。逊，并令我们从中获益良多，成为了更佳及更强大
的手套年产量。的顶级手套。集团深感欣慰，针对超过13,000名先艰难时期终将道破个人及企业的能耐。当集团处于最艰难
除了遵守标准作业程序，作为该有的预防措施，集团迄前已向招聘代理支付招聘费用及相关费用的外籍劳的时期，我们充分见证了本身作为一家富有韧性的企业，
同时，顶级手套坚守其承诺于降低集团业务对环境今已投入大约马币700万资金为员工进行新冠病毒检测。工，完成了逾马币1.5亿的招聘费补偿金，此外亦投并为此深深感到自豪。这亦使集团能够从逆境中奋起并锐
带来的影响，并安装管理系统来维护集团运营与环入大量资金于改善员工住宿，及开通一条由独立机意进取，勇往直前。
境之间的和谐。为了确保集团运营的永续性，我们为了减少不必要的社区接触及曝光，集团在2021财务年构管理的劳工求助热线等措施。这仅象征着集团的
正在进行一系列用于监测和管理能源、天然气及水投资了马币720万，为员工提供津贴健康素食餐，每天一个开端，我们深受启发于持续成为最佳企业，并在此，我们想对董事会表示衷心的感谢，感恩他们睿智的高
源的项目，包括持续投资于太阳能、先进工业污水送至员工的工厂／办公室。根据此项计划，劳工只需支确保集团时刻专注于维护员工健康、安全及福祉。见及参与，有助于集团于惊涛骇浪中的安全航行及上岸。
处理系统（IETS）及原料回收过程。付马币1令吉即可享用健康的素食餐。同时，我们的食
堂和餐饮已实施无现金支付。为迎接新常态，顶级手套至我们的顶级手套成员们；您们给予无可替代的付出以
不仅如此，集团也通过工业物联网（IIoT）、WIFI6 于疫情期间实施了一项居家工作（WFH）政策，利用迎接这期间前所未有的挑战。我们衷心感谢您们抱持
和Edge计算技术将数千个数据点连接至网络，以继科技迅速启动线上会议、培训及线上工厂检查，使集团欲查看美国CBP针对此事件发布的声明，请 “ 势在必行 ” 的态度并辛勤工作及付出贡献，让集团得以度
扫描此二维码或浏览此链接：https://public-
续扩展我们的云端制造设施及构建我们的 “ 大数据终得以在特殊环境中如常运营。即使员工已重返办公室， inspection.federalregister.gov/2021-19535.pdf
过这一极具挑战性的一年，并茁壮成长。不仅如此，更让
端 ”。通过与集团分析员及数据人才的合作，我们将大部分会议及培训仍以线上方式进行。我们深感欣慰的是，集团见证了您们无私奉献的精神，于
此所有数据导入仪表板及分析报告，以近乎实时的疫情肆虐期间为受加强行管令影响的同伴们提供食物及必
方式呈现出顶级手套工厂增广性的视图。作为间接
展望与前景需品。真棒！您们乃集团的骄傲。
顶级手套劳工学习应用程序（TGWLA）由集团内部开
附属效益，这些报告的数据化亦减少集团的纸张使发，旨在让我们的劳工得以进行移动式培训。此外，
展望未来，我们坚信手套需求量于医疗及非医疗领致我们的客户、供应商、股东及其他权益持有人；感谢您
用量，配合集团无纸化的方针。在进出集团处所时，我们已推出面部识别系统来替代
域健康意识和卫生水平提升的推动下，将不断稳步们的支持、反馈及具建设性的批评，它们激励且推动我们
现有的手指扫描，以最大限度减少员工与高触碰率表
上升，每年增长10%至15%。即使此大流行病转变为做得更多，做得更好，并发挥我们最好的一面。
在丰盈的一年达至创记录的高股息面的接触。地方疾病及全球开始习惯 “ 与新冠病毒共存 ” ，新病
毒株的出现仍然将导致需求量的增长。此外，随着我们欲借此机会向我们的前线人员及医护人员致敬，他们
配合集团为奖励其大约136,000名大众股东及共享佳集团恢复将手套由马来西亚出口至美国（顶级手套持续勇敢并不惜付出巨大的牺牲以坚守职责。您们乃国家
绩的承诺，我们宣布年度总股息为空前的每股65.1 奖项和荣誉的主要市场），我们对未来几个季度销售量的改善的英雄，顶级手套为能向世界各地的前线人员提供手套而
仙或总值马币52.1亿，相比2020财务年每股11.8仙的保持乐观的态度。深感至高的荣誉。
全年股息增长了452%。我们亦感到高兴得以于2021 顶级手套亦于权威的《The Edge Singapore》2021年十亿新元
财务年实行季度制的股息支付。俱乐部中荣获多个奖项。于医疗保健服务及制药领域，集团集团深知挑战的潜在性。整个领域的平均销售价预
获颁最佳表现股票、最快增长企业及该领域中最佳企业3个奖计将处于放缓趋势，而客户亦采取观望的态度，于丹斯里林伟才博士拿督李金谋
项，其中最为显著的是，集团击败了其余90家企业，被评为预期中平均销售价将会正常化并推迟补货活动。至执行主席董事总经理
2021年的总赢家。于来自其他制造商的竞争，尤其于国外的制造商，顶级手套集团顶级手套集团
亦越发激烈。 2021年11月2日 2021年11月2日

HOW WE CREATE VALUE
THE MARKET AND TRENDS THAT SHAPE US THE MARKET AND TRENDS THAT SHAPE US
As a global player, our performance is affected by the various business dynamics, Ageing Population and Higher Life Expectancy
market sentiments and societal changes. We consistently monitor these changes
According to the United Nations, 9% of the global population are
to mitigate any new and existing risks and capture new opportunities to ensure over the age of 65 with the number expected to increase to 16%
by 2050 due to growing population in emerging countries. Life
business continuity. expectancy has also increased overall. The United Nations has
observed, between 1990 to 1995 and 2015 to 2020, the global life
Outbreak of Pandemics expectancy at birth has increased 12% and is expected to rise
in the next 50 years. As senior population are prone to different
(PPE) including disposable gloves. Besides diseases and require more medical checkups, the rising number
clinics and hospitals that have implemented of aged population has pushed the demand for healthcare
products and services, resulting in higher glove consumption.
heightened precautionary measures, countries
have also implemented stricter regulations to
control the pandemic and ensure production
Growing Economy and Hygiene Awareness
quality.
These factors have stimulated global glove In recent years, emerging countries’ economies have
demand to unprecedented heights. Average increased moderately on the back of positive global trade
selling prices (ASPs) have also seen a significant performance. According to the IMF, emerging markets and
increase due to constrained supply resulting from developing economies have seen an increase of aggregate
increasing order enquiries from governments GDP from USD29.5 trillion in 2015 to USD34.0 trillion in 2020,
globally. Glove demand is expected to stabilise translating to a CAGR of 2.9% from 2015 to 2020. Driven
post-pandemic although it will not return to by the growing economy, governments can devote more
pre-pandemic levels due to increased hygiene resources to the national health budget to improve domestic
As an inexpensive protective barrier for people, demand of gloves awareness and the uncertainty of the pandemic. health systems. The global health expenditure per capita
can be seen during health threats such as SARS, H1N1 and most Thus, governments will stock up on PPE in recorded an increase from USD999.0 in 2015 to approximately
recently, COVID. The increasing health and safety concerns preparation for future waves of COVID and the USD1,105.1 in 2020. Thus, given the current situation of
have led to a surging demand for personal protective equipment flu season. the global economic development, the overall demand and
penetration rate of gloves worldwide is expected to rise.
Wider Applications of Gloves Across Industries

Product Structure Transformation and Technology Upgrading
Natural rubber latex gloves, being more comfortable and

higher dexterity than nitrile latex gloves, have been the
mainstay for the medical and industrial sectors for some
years. However, concerns over latex allergies have motivated
glove manufacturers to improve the performance of their nitrile
latex gloves and nowadays, nitrile latex gloves are almost as
comfortable and permeable as natural rubber latex gloves.
In addition, nitrile latex gloves can be sterilised without any
effect on its physical characteristics. Thus, with its excellent
performance, many industries have opted for nitrile latex gloves.
With gloves being very versatile in nature, other industries, such as food and beverages, biotechnology etc., have adopted The ASP of nitrile latex gloves is higher than other major
gloves. The emerging 5G technology, AI and IoT, have driven the demand of gloves used in research and development, materials which made it difficult to penetrate the market of
industry and electronics. Governments globally also have mandated stricter occupational safety regulations, requiring developing areas. So, to make products more cost-effective,
corporations to provide safer work environments for its workers. glove manufacturers have invested heavily in automation
and digitalisation resulting in higher productivity and lower
To further improve workers’ safety, corporations have implemented the ISO45001 occupational health and safety overheads, improving companies’ competitiveness. ASPs
management systems to regulate and improve safety in the work environment. For the food and beverage industry, of gloves will gradually decrease in the future along with
developed countries have developed guidelines and recommendations for hygiene purposes by wearing gloves to prevent improved production efficiency and utilisation rate.
foodborne diseases. Hence, these factors would likely contribute to glove demand in the future.
Source: Frost & Sullivan Report

HOW WE CREATE VALUE
OUR VALUE CREATION MODEL OUR VALUE CREATION MODEL
Our model is built with sustainability and responsibility in mind. We leverage on the six capitals to drive our strategic intents, Government/
Affected E Employees C Customers G N Non-Government Organisations (NGOs)
which considers our material matters and competitive strengths, which in turn generate the output and the outcomes which Stakeholders
Regulators
Shareholders/
reflect the value created for our stakeholders. SI
Investors
S Suppliers LC Local Community
OUR CAPITALS AND SIGNIFICANCE OUR OUTCOMES FOR FY2021

Financial Capital Manufactured Capital Social and Relationship Capital Displaying Financial Strength and
E
Sharing Wealth
• Our strong generation ability allows us to effectively implement • Our high quality facilities and complex manufacturing expertise • We focus on developing quality relationships with our stakeholders and
and execute our strategies for the future. across the globe give us a broad revenue base to tap into. bolstering our corporate reputation while contributing back to the communities. • Net profit of RM7.82 billion SI
• Earnings per share of 95.9 sen
For more information, please refer to page 177 to 290 For more information, please refer to page 12 to 14, page 53 For more information, please refer to page 166 to 169 • Total dividend of RM5.21 billion
distributed to shareholders
Intellectual Capital Human Capital Natural Capital
• Our targeted products portfolio are backed by an empowered innovative • With strong focus on training and development, our highly • Our commitment towards environmental protection minimises our
mindset and trusted brand value to develop market-leading products. talented people is the driving force behind our continued success. environmental impact which ensures our compliance to regulations.
Developing Quality Products and
C
Providing Access Worldwide
For more information, please refer to page 54 For more information, please refer to page 108 to 133 For more information, please refer to page 95 to 107
• Capital expenditure of S
RM1.36 billion
• RM3.96 billion worth of property,
Material Matters Strategic Intents Competitive Strengths plant and equipment
OUR • Exports to 195 countries
VISION • 27 in-house brands
To be your world
class partner in To be the
gloves and ENVIRONMENT world’s 1. Well-positioned
Investing in Innovation
Improving efficiency undisputed global market E
healthcare
products
and investing in leading producer leader Latex • Investment of RM100.73 million
solutions that mitigate 1 into research and development C
of latex gloves 2. Comprehensive Gloves
negative impact • 151 patents applied
on the and high quality • 15 new products developed S
environment. product portfolio
To be the 3. Extensive sales
world’s leading network and
Developing, Engaging and
OUR SOCIAL nitrile glove diverse customer E
Leveraging on Our People
MISSION Investing in our manufacturer
base
Ensuring safe
employees’ social
4. Strategic
Surgical • Average training hours per
well-being to create 2 employee of 63.15 hours
human protection and foster a supportive manufacturing Solutions • Total training expenses of
globally and conducive working To be the fastest footprint with best- RM1.18 million
environment. growing surgical in-class support
solutions provider 5. Strong research OUR
and development OUTPUTS
GOVERNANCE capabilities and Giving Back To The Local
E
Pursuing the To materialise technical expertise Communities and The Nation
highest levels strategic 6. High corporate • Total volunteering hours of
acquisitions that G
of compliance 61,152 hours
to foster trust can contribute at
governance
3 Nitrile • RM191 million donated to COVID
least 20% additional standards LC
in our business
practices. revenue
Gloves relief efforts since COVID started
via Top Glove Foundation
• Total tax of RM2.2 billion N
contributed to the government
Business Activities
4 SI
Product Pipeline Development Capital Reinvestment
Healthcare Creating A Sustainable
Environment for All
Products • 1.66 GWh generated from solar
G
panels LC
Manufacturing and Supply Chain Operations Commercialisation • 1.43 million cubic meter of water
recycled and reused N

HOW WE CREATE VALUE
OUR BUSINESS STRATEGIES OUR BUSINESS STRATEGIES
To be the world’s number one gloves manufacturer, we recognise that sustainable and profitable growth requires solid,
MEASURES TO ACHIEVE OUR STRATEGIC INTENTS
responsible and dynamic strategies relevant to the stakeholders. Our focus areas, namely cost efficiency, customer service,
technological capabilities and strategic acquisitions, drive our strategic intents which aim to expand and cement our operations,
drive business competitiveness through time and create meaningful value for stakeholders. Supported by our underlying Value
Creation Model, we have established ourselves as a strong global market player in the glove manufacturing industry. 1. Intensify quality control checks by respective Quality
Assurance teams
STRATEGIC INTENTS 2. Continue upgrading the quality control digital
systems with the latest technology in manufacturing
Strategic Intent 1 : To be the world’s undisputed leading producer of latex gloves 3. Manage warehouses’ inventory levels to ensure
Affected Capitals: Progress Made in FY2021 Priorities in FY2022 optimisation of storage space and prevent any
Financial Group revenue surpassed Outgrow competition in backlog orders to customers
ve Increased spending on technology upgrades the RM16 billion mark with preferred growth market
Manufactured total production capacity Cost
ve System upgrades to production lines achieved 100 billion pieces Efficiency
Intellectual
ve 1. Improved quality and efficiency in production processes
2. Stronger brand reputation 1. Maintain base levels for inventory to meet the
Social & Relationship delivery and produce more once inventory falls
ve Stronger customer & stakeholder management
below predetermined standards
Strategic Intent 2 : To be the world’s leading nitrile glove manufacturer 2. Consistently engage with customers to understand
Affected Capitals: Progress Made in FY2021 Priorities in FY2022 their needs, market trends and suggestions
Expanded the nitrile glove Achieve nitrile glove
3. Develop a feedback system for customers to identify
Financial
ve Increased capital expenditures capacity with completed new operational excellence and overcome products’ and services’ shortcomings
Manufactured factories and refurbishment with consistent quality and Customer 4. Move towards digitalisation to minimise workload
ve Improved production efficiency of old factories efficient cost Service and human error in operational management
Intellectual
ve 1. New developments in R&D
2. Operational excellence in glove segment
ve
Human
Technology experts positions recruited and retained
Social & Relationship
OUR 1. Engage a reputable recruiting agency to facilitate the
FOCUS
ve Improved shareholders’ confidence search for Industry 4.0 experts
Strategic Intent 3 : To be the fastest growing surgical solutions provider 2. Hiring managers to attend Industry 4.0 training
workshops
AREAS
Affected Capitals: Progress Made in FY2021 Priorities in FY2022
3. Closely monitor the budget allocated for investment
Financial 1. Implemented cloud and 1. Build in-house
ve Increased capital spending in expanding production capacity dashboard system to sterilisation facilities in Industry 4.0 initiatives to prevent overspending
monitor manufacturing as a comprehensive 4. Monitor manufacturing performance as KPI to ensure
Manufactured
ve Greater production capacity of surgical gloves performance solution provider investment efficiency
2. Installed robotic 2. Expand surgical
Intellectual packaging system to glove capacity 5. Invest in cybersecurity training for IT employees
ve Digitalised systems to enhance productivity
reduce reliance on labour
Technological 6. Continuous education on IT security for all employees
Social & Relationship Capabilities
ve Stronger customer relations
Strategic Intent 4 : To materialise strategic acquisitions that can contribute at least 20% additional revenue
1. Recruit suitable and quality M&A talents
Affected Capitals: Progress Made in FY2021 Priorities in FY2022
2. Retain and continue to train the right talent
Financial Diversified business risk and Business diversification
ve Required capital for M&A and higher salaries for retainment generation of new sustainable with Environmental, Social and 3. Closely monitor M&A processes and integration
business revenue Governance considerations post-acquisition to ensure synergies are achieved
Financial
ve Diversified business risk and generation of new to create long-term value 4. Introduce long-term incentive plans with achievable
sustainable business revenue 1. Launched household for all of our stakeholders
goals to motivate the acquisitions team to actively
products
ve
Intellectual
Greater diversification of product offerings 2. Expanded into personal Strategic seek opportunities and achieve synergies while
care products which Acquisitions ensuring alignment of long-term objectives between
Human include hand sanitiser and
ve M&A talents recruited and retained employees and stakeholders to prevent short-
antibacterial hand wash
Social & Relationship termism
ve Improved confidence and security in stakeholders

HOW WE CREATE VALUE
MANAGING OUR RISKS AND OPPORTUNITIES MANAGING OUR RISKS AND OPPORTUNITIES
Our business is diverse and operating in a complex global network has its own risks on the Group’s business. Effectively
managing these risks is crucial to creating sustainable value and maintaining competitiveness. Thus, identifying, prioritising
and mitigating the risks effectively are central to the Group’s business operations and decision-making processes.
For financial year ended 31 August 2021, the following are significant risks to the Group:
BUSINESS RISK INFORMATION SYSTEM RISK
RISK CONTEXT RISK CONTEXT
Top Glove continues to pursue vertical and horizontal expansion by building more gloves factories as well as venturing With the Group’s initiatives towards automation and digitalisation, it increases the complexity on integrating
into non-glove sectors such as face masks and health care products. By extending businesses’ global footprint, it the production at factories with the information management system. The Group’s business may be vulnerable
will expose the Group to sovereign risk, compliance risk, political and economic uncertainties such as a change in to security breaches to key systems, assets and facilities resulting from cyber-attacks or sabotage. Potential
government, laws, regulations, and fiscal policies of the host countries. disruptions to operational systems or destruction of facilities from such security breaches can adversely affect the
Group’s reputation, business and financial results.
MITIGATION MEASURES OPPORTUNITIES RELATED MATERIAL MATTERS

1. Conducted due diligence and 1.
Acceleration of the Group’s 1. Product Quality and Safety
detailed analysis on prospect business growth from expansion 2. Customer Experience 1. Vigilance in identification and address Increase in efficiency from
1. 1. Customer Experience
countries or new investment of the Group’s domestic and 3. Ethics, Integrity and of any potential cyber threats technological use in automating 2. Ethics, Integrity and
projects before presented to the global footprint Governance 2. Upgrades and enhancements of production lines, reducing Governance
Executive Committee 2.
Diversification of related Group’s current security systems manual labour and improving
2. Assessment and deliberation by segments in core glove business product quality
the Board Risk Committee of to ensure value creation and our
new investment project risks competitiveness
3. Engagement of experienced and
capable external advisors in risk INFECTION AND PANDEMIC RISK
mitigation
RISK CONTEXT
The prolonged COVID exposure especially in Malaysia poses infection risks to the Group’s operation and business.
The risk of infection of COVID to the Group’s employees or contractors disrupt business operations.
OPERATION RISK
RISK CONTEXT MITIGATION MEASURES OPPORTUNITIES RELATED MATERIAL MATTERS
The Group’s exposure to operation risk arises primarily from the potential equipment breakdown, insufficient raw 1. Strict adherence to COVID Standard 1. Safeguards the continuity of its 1. Labour Management
materials, fire outbreak, electricity interruption, water shortage or gas curtailment which could cause unplanned Operating Procedures business operation producing Relations
downtime at the factory production lines. 2. Workplace rotation critical examination and 2. Infectious Diseases
3. Implementation of a Work-from- surgical gloves that provide
Home schedule for employees critical protection to the
4. Significant improvements in hostel healthcare industry globally
1. Maintaining sound risk 1. Scaling up of the Group’s core 1. Product Quality and Safety living conditions to minimise risk of
management policies operations 2. Occupational Health and COVID infection
2. A high standard and cost-efficient 2. Enhancement of operational Safety
preventive maintenance regime capabilities and efficiency 3. Supply Chain Management
3. Technical and operating efficiency provided by a stable and cost-
of its assets effective platform

HOW WE CREATE VALUE
MANAGING OUR RISKS AND OPPORTUNITIES MANAGING OUR RISKS AND OPPORTUNITIES
REGULATORY AND COMPLIANCE RISK ENVIRONMENTAL RISK
RISK CONTEXT RISK CONTEXT
The glove manufacturing sector is subjected to rules and regulations by various regulatory bodies. This includes There is increasing scrutiny on the Group’s environmental risks with regards to climate-related risk, water consumption,
the potential changes of legislation in Malaysia or other countries since the Group’s products are exported globally. energy usage, effluent and emission discharge and other environmental risks.
In addition, the Group also has operational presence in USA, Brazil, Germany, Thailand, China and Vietnam. Any
changes in the legislation and regulations in these countries could impact the Group’s financial and business MITIGATION MEASURES OPPORTUNITIES RELATED MATERIAL MATTERS
prospects. 1. Installation of solar panels to reduce 1.

Regular monitoring of 1. Environmental
carbon emission intensity changes in requirements to Compliance
2. Increase of water treatment plants capacity ensure adherence provides 2. Waste and Effluent
3. Continuous improvement and upgrading reasonable assurance that the
of IETS equipment to ensure effective Group operates in line with
1. Establishment of a dedicated 1. Adherence to local and 1. Ethics, Integrity and
treatment of effluent environmental requirements in
compliance function to ensure international laws provides Governance
4. Establishment of the Board Sustainability all operating countries
centralised compliance oversight assurance that the Group 2. Environmental
Committee in March 2019 as oversight for
2. Proactive advice on applicable laws operates in line with regulatory Compliance the Group’s sustainability efforts
and regulatory obligations given by the requirements in all countries 3. Labour Management
Group’s in-house Legal Department 2. Reputation protection from any Relations
and Regulatory Affairs Department adverse impact FINANCIAL RISK
3. In-depth regulatory review prior to
commitment to any new project RISK CONTEXT
As an export-oriented manufacturing entity, the Group’s financial performance is exposed to the risks of fluctuation
in foreign currency exchange rates and volatility in commodity prices, particularly the main raw materials in glove
manufacturing which are natural rubber latex and nitrile latex. Major movements in key foreign currency exchange
rates, such as the US Dollar, and the related commodity prices will create a short-term impact on the Group’s financial
HUMAN RESOURCES RISK
performance due to time lag effect of the cost pass-through mechanism.
RISK CONTEXT
Labour and human rights issues highlighted in the media reporting could expose the Group to human resources risk
1. Constant monitoring of risk factors to 1. Enable the Group to properly 1. Product Quality and
and reputational risk. The Group is committed in the welfare and wellbeing of its workers and is constantly upgrading achieve an effective and efficient cost manage its funds and Safety
its labour welfare practices and initiatives. pass-through mechanism maximise its market value while 2. Supply Chain
minimising the cost of capital Management
1. Implemented the Zero Cost 1.

Reinforces and reassures 1. Occupational Health and SUPPLY CHAIN RISK
Recruitment Policy and due diligence commitment to protect Safety
RISK CONTEXT
on recruitment agents to ensure no human rights and safeguard 2. Labour Management
recruitment fees are collected from employees’ well-being Relations The COVID pandemic is a global health threat that exposes the Group to risk of supply chain disruption arising from
workers 2.
Continuous adherence to 3. Human Rights global shipment congestion and global manufacturing and production crisis. Risk of receiving damaged goods and lack
2. No forced or excessive overtime the Human Rights & Ethical 4. Ethics, Integrity and of upstream material heightened due to the Group’s dependency on single source supplier and/or on other countries to
by workers as per regulatory Conduct, which stipulates fair Governance fulfilling some components of the raw materials which faced shortages from the local suppliers.
requirements and ethical labour practices in
3. Purchased and built new hostels with accordance to the Business
full facilities and amenities to provide Social Compliance Initiative 1. Active sourcing for alternative materials 1. Localisation of supply chains 1. Product Quality and
decent accommodation and facilities (BSCI) Code of Conduct which or suppliers to ensure smooth supply of to local and Asia vendors Safety
for workers is applicable to the Group’s materials and assembly well ahead of time indirectly stimulate domestic 2. Supply Chain
4. Conducted social compliance employees and supply chain 2. Pursued potential alternate sources of and Asia’s economic growth Management
audits to ensure labour compliance supply or substitution of materials
requirements 3. Ventured into upstream business units such
as chemical, formers, latex and packaging
to mitigate supply chain disruption

HOW WE CREATE VALUE
FUTURE OUTLOOK FUTURE OUTLOOK
WE ARE WELL POSITIONED TO CAPITALISE

Additional new capacity from established operations in Malaysia resuming sales to the U.S. which is a key market for
glove manufacturers in Malaysia and Top Glove, effective 10 September 2021, we are optimistic of an improvement
ON THE GROWTH MOMENTUM AND ADAPT TO

other countries, as well as new entrants in sales volume over the quarters ahead.
to the glove industry, which has increased
THE RAPIDLY CHANGING MARKET.

glove supply, has also resulted in pricing As a leader in the healthcare product manufacturing industry, we are mindful
pressure. The challenging situation was of our corporate responsibility and remain committed to enhancing our
also exacerbated by the wait and see performance in the area of ESG. Accordingly, sustainability has become a
approach adopted by customers in key pillars of the Group’s business strategy. The Group is working towards
anticipation of normalising ASPs and a medium term sustainability FY2025 targets and exploring science based
slow decline in raw materials prices, which target setting towards crystalising a net zero carbon emissions roadmap.
we will continue to work closely with our Deepening our commitment to ESG, 40% of our management incentives
suppliers to adjust correspondingly. are linked to ESG metrics, ensuring management accountability for the
achievement of the company’s sustainability targets.
Nonetheless, Top Glove remains upbeat
about industry prospects. The global
demand for gloves is expected to grow
at a rate of 10% to 15% per annum post
pandemic, compared with 8% to 10%
pre pandemic. As gloves are necessities
in the healthcare industry, the elevated
awareness around personal hygiene and
public health arising from the COVID
pandemic is expected to contribute
to the higher glove demand growth in
the medical and non medical sectors.
Developing countries also present the
greatest potential for growth in the longer
term, given the relatively low level of glove
usage. With our diverse range of products,
we are well positioned to capitalise on
the growth momentum and adapt to the
rapidly changing market. Moreover, the
strong cash flow reserves which we have Advanced Auto Stacking and Counting Machine
built will enable us to fund continuous
expansion and also seize opportunities
for accretive M&As when they arise. We
adopt a long term view in our capacity
expansion plans, and are committed to
Advanced Auto Packing System Line the careful and disciplined execution of
our growth strategies.
The strong demand for gloves commenced in early CY2020 largely
The Group is cognisant that competition
attributed to the COVID pandemic, which saw both demand and is an intrinsic part of business and will
continue to focus on product quality,
average selling prices (ASPs) for glove products peak in 1st quarter innovation, automation and cost efficiency
across all aspects of our operations.
of CY2021. However, following the successful rollout of vaccines in Having been in the glove business for
Europe and U.S., demand has started to soften since mid CY2021, 30 years with a proven track record, we
are confident of our ability to overcome
with ASPs expected to normalise by mid of CY2022. any challenges. Furthermore, with our First Stage Auto Packing Machine

CREATING SUSTAINABLE VALUE
CREATING SUSTAINABLE VALUE CREATING SUSTAINABLE VALUE

All content and data in this page has been verified & assured by external assessor, SIRIM QAS International Sdn Bhd
CONTINUING TO DO WELL BY DOING GOOD: SUSTAINABILITY STRATEGY
TO Ps OUR MEANINGFUL ESG JOURNEY

t All content and data in this Creating Sustainable Value section has been verified & assured by external assessor, SIRIM
i li Building A Legacy of World Class Sustainable Business
y
ab
in S us t a in QAS International Sdn Bhd Goal
with Long Term Positive Impacts
As an international company which has Thus, we have deepened the integration of sustainability
E S G
into every facet of managing our business, towards long
served the global market for 3 decades, we
term value creation in line with our corporate mission
have always remained cognisant of evolving of ensuring safe human protection globally. We have
operational standards and their implications declared 2021 as The Year of ESG (Environmental, Social
for the sustainability of our business. and Governance) for Top Glove. Led by the company’s ESG
Sustainability Steering Group, we are working hard to fix Commitments To tackle To be a people To adhere
Accordingly, multiple efforts have been made climate change centric corporate independent &
existing issues and mitigate potential risks by building
towards enhancing awareness amongst organisational capacity and operational controls across all
and restoring citizen highest standards
nature of corporate
our people of the need to be proactive in aspects of ESG, which will act as barriers to reoccurrence governance
responding promptly in step with these very of undesirable events.
important changes.
Nonetheless, we are under no illusion. We acknowledge
that there is always room for improvement in our practices, Promoting
particularly in terms of social compliance and have since Strengthening
inclusivity
Transitioning into Advocating Improving good corporate
made great strides to improve our performance in this very Strategic &
a net zero carbon responsible community governance
crucial area, with the continued well-being of our 22,000 Themes respecting
business value chain livelihood & responsible
human
strong workforce foremost on our mind. We are heartened business culture
rights
that our concentrated efforts in this area have resulted
in us being verified as free of all 11 International Labour
Organisation (ILO) indicators of forced labour in April 2021,
by an established third party auditor, Impactt Limited UK.
Key SDG
We are also pleased to have enhanced our stakeholder Alignment
engagement. In early 2021, we conducted a materiality
assessment having garnered the feedback of over 3,000
stakeholders whose valued inputs on key areas helped
inform the development of the Top Glove Sustainability
Strategy, which articulates clear medium term ESG targets Top Glove aspires to evolve into a truly sustainable business. We operate in accordance with the 10 principles of the United
for FY2025 and the resources needed to achieve them. Nations Global Compact (UNGC) and our material issues are aligned with United Nations Sustainable Development Goals
Please view Stakeholders Engagement and Materiality (SDGs). Both our business and the ESG initiatives we pursue are linked directly or indirectly to all 17 goals from which 8
Assessment details at page 166 and page 92 respectively. key goals relevant to our value chain and aligned with material issues, have been identified towards which we are able to
In the last financial year, Top Glove’s sustainability journey saw contribute at scale.
good progress, alongside humbling experiences. While we We continue to strengthen our capacities and build
delivered strong growth following the COVID pandemic, we momentum for the future, with a view to resolving issues Demonstrating our commitment to create long term positive values for stakeholders and the environment, in which we set
also noted that stakeholder expectations can change rapidly, of concern that may arise from time to time, and improve medium term targets to be achieved by FY2025 against base year FY2021. These targets are also aligned with our key focus
drastically and quite suddenly. Today, above and beyond growing on what we are doing well. SDGs as well as material issues identified during the materiality assessment conducted in early FY2021.
financial value, stakeholder concerns abound with regard
to ESG priorities which include environmental degradation We will continue to be at the forefront of our firm SDGs are well integrated into our daily business operations based on our business capability and global trends.
from high carbon activities as well as social wellbeing of ESG commitment, through improved and consistent
vulnerable groups. In light of this, we have reassessed our risk communications with all stakeholders, as we learn from
management and also have in place measures to make our both the best practices as well as the oversights of others. Alignment of our initiatives with SDGs:
corporate governance more robust particularly in these 2 areas, Ultimately, we are focused on growing the company
Click here or scan the QR code to view alignment of our initiatives with SDGs (under SDGs section)
even as we remain committed to maintaining the highest levels better, not just bigger, as we do our part to make the
of ethics in terms of our business operations. world a better place.


All content and data in this page has been verified & assured by external assessor, SIRIM QAS International Sdn Bhd All content and data in this page has been verified & assured by external assessor, SIRIM QAS International Sdn Bhd
CONTRIBUTING TO SUSTAINABLE Key FY2021 achievements & progress
DEVELOPMENT GOALS • Produced 100 billion pieces of

high quality gloves
• Supported 36 hospitals and medical
centers, including the Ministry of
Key FY2021 achievements & Health, nation of Nepal as well as 47
Key FY2021 achievements & progress NGOs/Welfare Homes/Educational
progress
Institutions since the advent of the
• 40% of KPI are linked to ESG metrics COVID pandemic. Support was
• Board evaluation conducted by • 11 undergraduate & extended in the form of monetary
independent external party postgraduate scholarships donations, food aid, personal
• Tenure of Independent Directors is limited offered with total amount protective equipment (PPE) and
to 9 years without any further extension over RM½ million medical equipment, with a total
• Established independent grievance Key FY2021 achievements • Total of 109 scholarships value of RM191 million
helplines managed by third party & progress offered as at FY2021, with • Invested RM220 million to build
consultant a total investment of RM3.4 accommodation for 13,000
• 49% of critical suppliers being • Short and medium term million employees
assessed based on ESG metrics carbon offset targets set • Donated 17 units of • Lost-Time Injury Frequency Rate
• As at FY2021, 11 factories certified with for water treatment plants, reconditioned and useable (LTIFR) improved from 1.1 per
Environmental Management System offices and warehouses laptops/ PCs to registered million hours worked in FY2020 to
ISO 14001 • Net zero carbon roadmap welfare homes, community 0.92 per million hours worked
• Zero number of corruption & bribery & target setting in progress centres, tuition centres for • 3 factories certified with
cases • Tree planting at plantation the poor to support online Occupational Health and Safety
• Conducted quarterly dialogue between land with 30,773 hectares learning under EduShare Management System Certification
independent directors and worker in Indonesia Programme with ISO 45001:2018 Standard
representatives as platform to raise • On-site COVID vaccination
workplace and accommodation concerns Medium term target for FY2025 programme for employees. As at
(against base year FY2021) 25 October 2021, 94% or 20,720
Medium term target for FY2025
Medium term target for FY2025 (against base year FY2021) of Top Glove Group employees
(against base year FY2021) • To reduce 25% of carbon are fully vaccinated
emission intensity • Complimentary professional
• To support 560 beneficiaries
• To achieve 100% active critical supplier • To achieve zero carbon counselling and mental health
for education pillars through
assessment on ESG metrics from emissions at water support for all employees
scholarship programme &
FY2023 onwards treatment plants by FY2022 • Invested RM7.2 million in
EduShare Programme
• 100% factories to be certified with as well as offices and providing healthy vegetarian
Environmental Management System warehouses by FY2025 meals for employees
Medium term target for FY2025

Key FY2021 achievements & progress
(against base year FY2021)
Key FY2021 achievements & progress
• 42% of board members are women
• Development of more environmental friendly gloves such as Forest Stewardship Certified (FSC) gloves • 31% of female workforce, with 52% • To reduce accident rate by 14%
• Nearly 2.1 million of formers reglazed and reused, resulting in savings of RM16.3 million in terms of costs for reglazing and of female in managerial positions • All factories to be certified with
conversion, as well as waste disposal management saving of RM50,786 Occupational Health and Safety
• Reclaimed nitrile rubber recycled & upcycled into 1.3 million pieces of rubber gaskets, 205,300 and 340 pieces of rubber sealants and Management System Certification
rubber floor mats respectively Medium term target for FY2025 with ISO 45001:2018 Standard by
• Approximately 1,000 of eco bricks made to build modular structure under Eco Brick Programme (against base year FY2021) FY2024
• To achieve 95% of contractors to
• To achieve 50% female composition pass safety evaluation with the
Medium term target for FY2025 (against base year FY2021) for managerial positions minimum scoring of 60 points
• To reduce 20% of scheduled waste from licensed landfill • To achieve 7,700 eco bricks to build modular structure
• To reduce 10% scheduled waste intensity under Eco Brick Programme
• To reduce 40% of virgin plastic stretch film • 100% recyclable or reusable packaging
• To achieve 100% traceability in natural rubber & packaging material
Key FY2021
achievements & progress
• 7 of the factories
Key FY2021 achievements & progress Medium term target for FY2025 have installed a solar
(against base year FY2021) power system with
• Verified by independent third party consultant • Provided 9,720 job opportunities capacity of 5.34 MWp
that the Company is free from all 11 International • Invested RM1.18 million in • To achieve “A+” rating from
Labour Organisation (ILO) forced labour employees training FY2024 for social compliance
indicators • Achieved 355,780 employee audits at all our factories Short term target for FY2022
• Achieved “B” rating for social compliance training hours • To reduce municipal water and FY2023
practices • Implemented additional paid maternity consumption intensity by 34%
• Enhancement of workplace policies such and paternity leave in excess of legal • To reduce electricity consumption • Additional solar power
as Prevention of Sexual Harassment Policy, minimum, family care leaves & flexible intensity by 26% implementation across 19
Prevention of Bullying Policy working arrangement for employees • To reduce natural gas factories in FY2022 and
• RM2.2 billion income tax towards the with young children and family consumption intensity by 25% FY2023 in Malaysia,
nation’s building and to promote sustainable members who required care attention • To create 30,000 job opportunities Thailand and Vietnam
economic growth


STAKEHOLDER ENGAGEMENT MATERIALITY ASSESSMENT 2021: A SHARPER FOCUS ON ESG MATERIALITY PROCESS:
Top 10 Material Issues
We value meaningful stakeholder engagement. In March 2021, Top Glove conducted 2nd formal and comprehensive ENVIRONMENTAL
The outcome of the engagement helps us to materiality assessment after FY2017 assessment, to identify key ESG
A Energy Consumption O
identify upcoming market trends, anticipate issues which drive our long term value creation and have a significant
challenges and align our sustainability strategy impact on the Company’s business performance. The assessment B Water Management
and business activities with broader interests of was led by the Sustainability Steering Group and undertaken by an
the economy, society and environment. independent third party to ensure objectivity and complete confidentiality. C Waste And Effluent
K
D Environmental Compliance
I
Through the materiality assessment exercise We reviewed industry and global trends as well as business factors
E Physical Impacts on Climate
carried out in March 2021, we identified a total that are expected to impact our business. These include mega trends
Change
of 8 stakeholder groups and prioritised them and global risks in the short, medium and long term. For this, we
based on influence, proximity and urgency. The reached out to more than 25,000 internal and external stakeholders H J
stakeholder groups are customers, employees, with an above average response rate. F
SOCIAL D
regulators, media, shareholders, suppliers,
Impact on Stakeholder
Q
investors, analysts and bankers as well as non- A holistic approach was adopted in conducting the assessment, Supply Chain Management N
F
governmental organisations (NGOs). towards ensuring that issues identified were material to the Company’s
G Local Communities C
performance, thereby enabling us to effectively prioritise and allocate
In our day to day business, we engage with resources to address the issues. H Customer Experience
stakeholders through various platforms,
I Labour Management Relations
responding to their stakeholders’ needs and
Detailed materiality process
expectations in order to create a balance between J Human Rights
B
business value and develop relationships of Click here or scan the QR code to view our detailed materiality K Occupational Health & Safety
trust. For details of our stakeholder engagement, process
please refer to page 166. L Diversity & Inclusion
E
M Security Management
M
01 Infectious Diseases
N
Product Quality & Safety G
O
Identification P Indirect Economic Impacts
L
of Material
Issues P A
GOVERNANCE
02 Ethics, Integrity & Governance
Q
Alignment Significance to Top Glove’s business
Approval
of Material
by the Board
Issues
of Directors ENVIRONMENTAL
07
No. Material issue Related UN SDGs Related GRI topic Page reference
1 Environmental 307: Environmental 96 to 97
MATERIALITY
Compliance* compliance
PROCESS
03 06 2 Waste and Effluent* 306: Waste 98 to 99
Validation by
Stakeholder
C-suites and
Identification &
key senior
Prioritisation 05
4 Water Management 303: Water and effluents 100 to 101
04 management 2018
306: Waste
3 Energy Consumption 302: Energy 102 to 103
Stakeholder Focus
Engagement Group
5 Physical Impacts 305: Emissions 104 to 107
on Climate Change


ENVIRONMENTAL: TRANSITIONING INTO A
NET ZERO CARBON BUSINESS
SOCIAL
No.
1
Material issue
Human Rights*
Related UN SDGs Related GRI topic
406: Non-discrimination
Page reference
109 to 116
FY2021 ENVIRONMENTAL HIGHLIGHTS
407: Freedom of
association and
collective bargaining
408: Child labour
409: Forced or compulsory Solar Power System
Carbon Emission Net zero carbon implementation at
7
labour
412: Human rights Reduction Performance roadmap & target factories with capacity of
assessment
2 Labour Management 402: Labour management Reported as part
as part of Group KPI setting in progress
5.34 MWp
Relations* relations of Human Rights
section (page 116)
3 Occupational 403: Occupational health & 117 to 121
Health & Safety* safety Short and medium term
zero carbon targets established
11 factories are certified
4 Infectious Diseases* 403: Occupational health & 121 to 122
with Environmental
safety 1 2 3
Management System
ISO 14001 as at FY2021
To achieve To achieve To reduce
5 Diversity & Inclusion 405: Diversity and equal 123 to 127
opportunity zero carbon zero carbon 25% of carbon
406: Non-discrimination emissions emissions emission
6 Product Quality & 416: Customer health & 128
at water
treatment
at office
premises &
intensity
by FY2025,
Approximately 98%
Safety* safety 2016 of packaging materials
417: Marketing & labeling plants by warehouses against base (in terms quantity) made of
7 Supply Chain 204: Procurement practices 129 to 130 FY2022 by FY2025 year FY2021 recycled or recyclable material
Management* 308: Supplier environmental
assessment
414: Supplier social
2.1 million
assessment
Approximately
8 Customer 102: Customer satisfaction 130 to 131
Nearly of formers Savings of
Experience* 1,000 reglazed and reused, results in cost savings of RM50,786
9 Security 410: Security practices 131

of eco bricks to build RM16.3 million for reglazing and on waste
disposal
modular structures under conversion as well as waste disposal management
Management
our Eco Brick Programme
10 Local Communities 413: Local communities 131 to 133 towards reducing plastic
waste
Reclaimed torn nitrile rubber gloves recycled and upcycled
11 Indirect Economic 203: Indirect economic 119 & 104 into 1.3 million pieces of rubber gaskets,
205,300 and 340 pieces of rubber
Impacts impacts Reported as part of
Promoting Wellness
(page 119) and
Managing Flood 48,261 sealants and rubber floor mats
Risk (page 104) trees planted at
plantation land in
GOVERNANCE
Indonesia to conserve 54.8 m³ in RM96,279
Revenue:
No. Material issue Related UN SDGs Related GRI topic Page reference the environment landfill related total cost
RM130,725
mitigation savings
1 Ethics, Integrity & 205: Anti-corruption 134 to 139
Governance*
* Top 10 material issues

ENVIRONMENTAL: ENVIRONMENTAL:
ENVIRONMENTAL COMPLIANCE ENVIRONMENTAL COMPLIANCE
Guided by the Environmental Policy and Environmental Management System ISO 14001, environmental best practices are
ENVIRONMENTAL COMPLIANCE
applied in the Group’s daily operations to ensure compliance and reduction of adverse environmental impacts.
Management approach: Guided by the Company’s Environmental Policy and In FY2021, we have received 2 cases of non-compliance with fines. We have taken immediate action to rectify the
Environmental Management System standard, we manage environmental compliance non-compliance and settled the penalty.
at Group level through board governance and compliance to best regulatory practices.
Environmental Policy
The calls for climate action continue to grow louder. At Top Glove, we endeavour to develop and implement sustainable
Click here or scan the QR code to view our Environmental Policy
environmental practices to effectively manage climate and environmental risks and leverage climate opportunities.
The Board Sustainability Committee (BSC) Chairman oversees climate and environmental issues and progress, and reports
to the Board. Together with the Sustainability Steering Group, BSC board members have engaged with consultants to
explore net zero carbon target setting.
Total of 11 factories certified with ISO 14001 as at FY2021
In addition, Top Glove’s commitment to addressing the climate emergency is amply demonstrated in its membership and
participation in the following:
Participation and commitment in climate related initiatives: To achieve To certify new factory
100% factories to be with ISO 14001 within
certified with ISO 14001 8 to 10 months from
A member of the Climate Governance Malaysia, the Malaysian chapter of the World by FY2025 commencement of operation date
Economic Forum (WEF) climate governance initiative, the second country chapter in the TARGETS
* A minimum period of 6 months factory
world to be launched and the first in Asia. operation is required for certification
A member of The Business Council for Sustainable Development (BCSD) Malaysia,

the local chapter of the World BCSD, which is a CEO-led organisation providing business
leadership for sustainable development. Our responsibility for environmental compliance is not only limited to our own operations but also extends to our
supply chain. Accordingly, environmental criteria has been a key criteria in supplier audit scope since 2020, which
includes Environmental Policy, product sustainability, waste management etc.
Disclosure of our climate change and water security impacts through CDP, a global non-
profit that runs the world’s leading environmental disclosure platform. Category Percentage & number of critical suppliers being assessed with environmental
criteria
A member of CEO Action Network (CAN), a closed-door peer-to-peer informal network of Critical suppliers 41%, 113 suppliers
CEOs of leading Malaysian businesses. CAN focuses on sustainability advocacy, capacity
building, action and performance, from the accelerating phenomenon of climate change and New critical suppliers 94%, 46 suppliers
the climate emergency, to increasing social injustices and failure of corporate governance. Lower percentage of suppliers assessment compared with previous financial year was due to Movement Control Order impacted
by COVID.
Committed to fully integrate the Task Force on Climate-related Financial Disclosure

(TCFD) framework in our risk management, climate and business strategy. No supplier was identified to have significant actual or potential negative
environmental impacts from audit process in the same reporting year.
Membership listing
Click here or scan the QR code to view our full membership listing (under membership section)

WASTE & EFFLUENT WASTE & EFFLUENT
Scheduled waste data:

WASTE & EFFLUENT
Financial Year FY2018 FY2019 FY2020 FY2021

Management approach: We do not subscribe to the attitude of
‘harm today’, ‘balm tomorrow’. While managing our waste and Scheduled waste generated (tonnes) 5,362.78 6,401.86 7,786.04 9,756.42
effluent in compliance with the regulatory laws and regulations
Scheduled waste intensity (kg/1,000 pcs gloves) N/A* N/A* N/A* 0.16
to ensure the discharge or waste does not harm the natural
ecosystem, we are also committed to reducing the generation of the waste through operational eco-efficiency. Total waste disposed through incineration (with or
without energy), landfilling, other disposal operations N/A* N/A* N/A* 3,252.96
(tonnes)
It is our responsibility to reduce or minimise the generation of waste at source, reuse and recycle waste whenever possible, Total scheduled waste reused/ recycled/ other
send waste for reuse and co-processing, render waste innocuous before disposal and only dispose waste at facilities N/A* N/A* N/A* 6,503.46
recovery process (tonnes)
approved by the Department of Environment (DOE).
* Data tracking commenced in FY2021
Scheduled waste generated by Top Glove is handled by a DOE licensed collector to be incinerated, sent to landfills or
recycled. We report and disclose our scheduled waste generation on the governmental portal and no waste has either
been imported or exported in FY2021. There were also no legal cases involving non-compliance of discharges in the same FY2021 scheduled waste data by type
reporting year.
Click here or scan the QR code to view FY2021 scheduled waste data by type (under Waste Management section)
Our strategies to manage scheduled waste:
1. Site audit on licensed scheduled waste collectors Effluent data:

We conduct an annual audit at the licensed collector’s site to ensure waste is handled in accordance with scheduled
waste regulations. The latest audit conducted on the largest contractor in terms of disposal volume was carried out
in April 2021. However, we were unable to perform audits at other collectors due to travel restrictions arising from the
COVID pandemic. Total Water Discharged (m3) 7,886,592 15,229,547 9,854,505 10,718,976
2. Research Discharge intensity (m3/1,000 pcs gloves) 0.202 0.342 0.159 0.176
We invest in in-house R&D (research & development) to render waste innocuous and other improvement projects.
3. Training & awareness Progress:

Employees attended competency training by an environmental institute acknowledged by DOE on proper waste FY2021’s effluent discharge intensity increased by 11% from previous year due to higher production line
management skills and knowledge. Awareness trainings are conducted by competent person to ensure proper speed.
scheduled waste management and prevent the occurrence of pollution.
Data disclosed in this section covers all gloves factories at Group level.
Before discharging our effluent, we conduct chemical, physical and biological treatment on the discharge, which meet
the Environmental Quality (Industrial Effluent) Regulations 2009, Standard B. For our Klang operations, the discharge is
Our targets: discharged to the drain which lows to Pintu Sungai Kapa Kecil.
Short term targets Medium term targets Solid waste data:
Scheduled To reduce scheduled waste intensity To reduce 10% scheduled waste intensity
waste intensity by 3% to 0.157 kg/1,000 pcs gloves by to 0.144 kg/1,000 pcs gloves by FY2025
FY2022 Total solid waste generated (tonnes) 17,023 16,719 22,509 26,381
Reduction of scheduled To divert 5% of scheduled waste from To reduce 20% of scheduled waste from Total solid waste reused/ recycled/ other
9,092 7,856 13,003 16,265
waste from licensed landfill licensed landfills by FY2022 licensed landfills by FY2025 recovery process (tonnes)
Total waste disposed through incineration

* Targets above are against base year FY2021
(with or without energy), landfilling, other disposal N/A* N/A* N/A* 10,116
operations (tonnes)

WATER MANAGEMENT WATER MANAGEMENT
In-house water recycling facilities:

WATER MANAGEMENT
Treated water from the industrial effluent treatment system is reused for housekeeping purposes.
Management approach: Access to fresh water is essential for human life
and wellbeing, and is recognised by the United Nations as a human right. We All the initiatives above have resulted total of 1,427,571 m3 water recycled and reused, equivalent to approximately
address water scarcity as a global concern and it requires definitive action. RM1.8 million savings.
We manage our water efficiency and mitigate water risks via several initiatives
under the water management plan, on top of data tracking and analysis.
Our targets:
Under our water management plan, we are committed to reduce dependency on municipal water supply, improve our water Short term target To reduce municipal water consumption intensity by 10% to 0.207m3/1,000 pcs gloves by FY2022
recycling and reuse system as well as monitor our water consumption, the key initiatives for which are as below. Data
disclosed in this section covers all glove factories at Group level. Medium term target To reduce municipal water consumption intensity by 34% to 0.151m3/1,000 pcs gloves by FY2025

Water Treatment Plant: Rainwater harvesting:
Water Consumption Intensity (m3/1,000 pcs gloves) 0.333 0.338 0.280 0.290
Water Consumption at Headquarter (m3) 37,389 38,929 35,436 34,913
Grand total of HQ corporate office users

(including tenants) 1,279 1,345 1,843 1,125
Water consumption intensity (m3/occupant) 29 29 19 31
Total water recycled and reused (m3) 2,514,063 4,851,912 2,431,382 1,427,565
Water Treatment Plants

(from 2 Water Treatment Plants) 510,735 1,044,525 1,129,229 891,616
IETS
Beneficiary factories Resulting in More than (from Industrial Effluent Treatment System) 2,003,328 3,807,387 1,302,153 535,949
increased from savings of 13.6% RM0.5 Source of Water Consumption (Total, m3) 18,453,741 22,142,768 18,456,616 18,182,568
15 factories to RM2.8 improvement in
million
efficiency 14,081,233
17 factories million monetary savings Municipal 12,042,759 12,792,175 12,498,389
Pond water 3,787,095 4,294,071 3,305,478 2,386,019
We treat river water into clean water, thereafter With the improved implementation of rainwater Rainwater 109,824 204,610 221,366 287,751.00
channeling it to factories for reuse in production. harvesting system in our factories, water sourced Recycled water 2,514,063 4,851,912 2,431,382 1,427,565
This does not only ensure continuous water supply from rain water harvesting has increased by 30%
for factories, but also serves as an effective system from FY2020’s 221,366 m3 to FY2021’s 287,751 m3.
for flood alleviation. Contribution from FY2021 has resulted saving of
RM575,717. Progress:
In FY2021, we have further invested RM13.8 million 1. In FY2021, water consumption intensity (m3/1,000 pcs gloves) increased 3.6% compared to FY2020
to improve the treatment capacity. With its maximal due to lower production output resulting from temporary stoppage by stages of our manufacturing
capacity of 530 m3/hour of clean water (for phase 2 facilities in Meru, Klang as per authority’s because of COVID pandemic.
of both plants), the number of factories benefitted 2. Corporate office’s water consumption intensity (m3/occupant) increased 63% compared with the
from this has been increased from 15 factories in previous financial year. It was due to much lower consumption intensity in FY2020 as impacted by
FY2020 to 17 factories in FY2021. COVID which led to working from home/ remote working practices.

ENERGY CONSUMPTION ENERGY CONSUMPTION
Solar power system investment:

ENERGY CONSUMPTION
Management approach: As one of the key resources used in our production, Our ongoing and completed
we aim to reduce the consumption of non-renewable energy, replacing it with Pilot project in FY2020
solar power
green/ renewable energy.
Pilot
projects • Factory 18 • Able to successfully
project in • Capacity of 1.14 MWp offset 874.44
FY2020 • Green energy utilised tonnes of CO2
for glove manufacturing: • RM479,000 worth
Responding to the call for more effective energy We continue to manage our energy consumption
1.26 GWh of electricity saved
management, we launched our Energy Policy and raised intensity via our electricity consumption and natural gas
the bar for ourselves by requiring ISO 50001:2018 Energy consumption, while investing in green energy via solar power FY2021
Management System (EnMS) compliance. Our aim is to implementation.
• 7 factories in Selangor • Able to successfully
have 25% of our factories certified with EnMS ISO 50001 FY2021 • Capacity of 5.34 MWp offset 1,058.98
by FY2022 and achieve 100% by FY2025. Data disclosed in this section covers all gloves factories at • Green energy utilised tonnes of CO2
Group level. for glove manufacturing: • RM597,768 worth of
We have communicated with our suppliers and vendors on 1.66 GWh electricity saved
our compliance with EnMS ISO 50001 and expect them ELECTRICITY
FY2022
to uphold our standards by furnishing us with Energy Star
electrical appliances. Production equipment/systems, Our targets: • Targeted implementation for 15 factories:
electric motors/pumps, compressors and suppliers related o 11 factories in Selangor, Malaysia
Short term To reduce electricity consumption o 1 factory in Kedah, Malaysia
to Significant Energy Utilities (SEU) will be assessed FY2022 o 3 factories in Thailand
based on their energy consumption. Energy performance target intensity by 11% to 6.178 kWh/1,000 pcs
(wherever applicable) will be included as an additional gloves by FY2022 FY2023
criterion for purchased items/vendor selection. Medium term To reduce electricity consumption FY2023 • Targeted implementation on 4 factories:
target intensity by 26% to 5.111 kWh/1,000 pcs o 3 factories in Selangor, Malaysia
In FY2021, we set medium term targets for FY2025 gloves by FY2025 o 1 factory in Vietnam
energy consumption intensity, with annual interim targets.
Electricity data: Solar power systems have also been NATURAL GAS:
implemented in our Thailand factories
(F16L & F17L). The following initiatives Our targets:
Financial Year FY2018 FY2019 FY2020 FY2021 have resulted an estimated 331,749 kWh
Short term To reduce natural gas consumption intensity by 13% to 0.2503
Electricity Consumption Intensity (kWh/1,000 pcs gloves) 6.64 7.09 6.83 6.94 energy saving and 77,344 kg CO2e per
target MMBTU/1,000 pcs gloves by FY2022
year.
Absolute electricity consumption (kWh) 332,170,929 381,972,387 421,965,246 448,586,057 Medium To reduce natural gas consumption intensity by 25% to 0.2157
1 Solar LED street lights term target MMBTU /1,000 pcs gloves by FY2025
a. Solar powered LED street lights
Progress: were installed at water ponds,
Electricity consumption intensity increased by 1.77% in FY2021 compared with FY2020 due to lower aeration ponds, hostel entrance etc. Natural gas data:
output arising from Movement Control Order due to COVID pandemic, whereby production lines were not
fully in operation. (Variance was calculated based on intensity value with 4 decimal points). 2 Solar pump Financial Year FY2018 FY2019 FY2020 FY2021
a. We replaced manual pump at Natural Gas Consumption
the sediment sump pit with Intensity (MMBTU/ 0.3129 0.3175 0.2944 0.2897
Energy efficiency initiatives: 1,000 pcs gloves)
an automatic solar pump and
1. Smart Energy Monitoring System (SEMS) to monitor energy usage and identify wastage With the implementation of SEMS automate control with the float Absolute natural gas
at the factories, real time data on energy consumption is monitored closely by engineers. Any abnormality in terms of energy switch. This project can help us consumption (MMBTU) 11,120,386 12,669,638 14,295,497 14,512,799
consumption can be identified and rectified in the shortest time. In addition, monthly report generated from SEMS allows the reduce in terms of energy and
engineers to understand the factories’ energy consumption trend, hence enabling to identify wastage in the factories. man hour and its relevant cost.
Progress:
1.62% reduction in natural gas consumption intensity in FY2021
2. Heat recovery system via combined heat and power plant (CHP) system and 3Rs water system.
3 Solar roof compared with FY2020. The decrease is due to more ongoing gas
3. Improvements in equipment efficiency: a. Installation of solar panels on saving projects implemented intensively, such as automated former
main office building. temperature control at the main oven and coagulant oven, as well as
a. We are in the process of converting biomass combustion facilities to natural gas, which in turn will generate lower
conversion of old burners to immersion burners with higher efficiency.
carbon emissions. b. Targeted to be completed by 2022
b. Replacement of low performance burners with advanced technology equipment. first quarter and second quarter
for F16L & F17L respectively. Saving of RM9.5 million in FY2021 following the reduction
4. Solar power system project. of natural gas consumption intensity

PHYSICAL IMPACTS ON CLIMATE CHANGE PHYSICAL IMPACTS ON CLIMATE CHANGE
Over the years, we are committed to reducing carbon emissions in our operations arising from material consumption, daily business
PHYSICAL IMPACTS ON CLIMATE CHANGE activities to waste management. We believe every single effort made contributes to fulfilling our responsibility for a greener earth.
Besides operational Scope 1, 2 & 3 management, we have also implemented the following strategies to reduce emissions.
Management approach: We are mindful of environmental and social
issues that may arise due to physical impacts of climate change.
Raw material consumption
Accordingly, we strictly manage our emissions in operations and are
prudent with material consumption.
Latex consumption (kg/1,000 pcs gloves) 6.34 6.53 6.66 6.48
Top Glove recognises that climate change poses risks Managing flood risk:
across our business and the environment. We have long Nitrile consumption (kg/1,000 pcs gloves) 8.20 8.13 7.62 6.65
since been an advocate of environmental stewardship to Flooding occasionally occurs in Meru, Klang where some
ensure our business operations and value chain generate of our factories are based, affecting both our business Packaging materials
minimal negative impacts to the environment while creating operations and the community. To mitigate its effects, Top
new climate opportunities. Glove has at the outset embarked on several initiatives to Ethical sourcing and responsible consumption is very important to us and we also engage with our supply chain to advocate
improve drainage and water flow system within the vicinity strongly for this. In demonstration of this, in FY2021, we allocated 45.8% and 6.2% of procurement order to Forest
To this end, we have identified climate related risks of our Klang factories and the nearby residential areas. Stewardship Council (FSC) or Supplier Ethical Data Exchange (Sedex) certified inner and carton suppliers respectively.
classified by the Task Forced for Climate-related Financial
Disclosure (TCFD). Climate-related risks, opportunities With approximately 98% of our packaging materials (in terms of quantity) made from recycled or recyclable materials, we
and impact to the Company’s businesses strategy and are actively exploring alternative packaging material for non-recyclable plastics, as well as producing or procuring refill
financial planning are articulated in the Managing Risk and Flood control & water flow initiatives packs for liquid detergent to reduce plastic consumption. In addition, we are exploring replacing petroleum based-ink for
Opportunities section on page 85. We have also disclosed Click here or scan the QR code to view our flood printing with eco-friendly or renewable resource ink such as soy ink.
our process in identifying and assessing climate risks as control & water flow initiatives (under Facilities
Investment & Improvement section)
well as how it is integrated into the overall risk management
Our sustainable packaging material targets
in the Enterprise Risk Management Framework.
Emissions data: FY2022

• In-house inner printing unit to be FSC certified
CO2-eq emission (metric ton) • 100% packaging materials (in terms of quantity) to be made from recycled materials
• To allocate 55% and 7.5% of procurement orders to FSC certified inner and carton suppliers respectively
FY2018 FY2019 FY2020 FY2021
• To procure plastic bottles made with 25% recycled plastics
Natural gas 586,669 676,291 758,519 770,049
Biomass 768,068 623,465 676,790 715,322
Scope 1
Coal 56,791 34,853 0 20,538 FY
2022 FY
FY2023
Total 1,411,528 1,334,610 1,435,309 1,505,909
2023 • In-house carton printing unit
Scope 2 Electricity 209,413 243,790 269,636 286,646
to be FSC & SEDEX certified
Scope 1 & 2 Total 1,620,941 1,578,400 1,704,945 1,792,556
Intensity (MT/1,000 pcs gloves)** 0.0328 0.0295 0.0276 0.0278
FY2024
Variance (over year) 0.19% (10.04%) (6.61%) 0.65% FY
• To replace 75% of our polybags with FY2025
2024 FY
Flight (air business travel) 156 253 175 0.21 biodegradable/ recycled plastics
• To reduce usage of 2025
Scope 3 Scheduled Waste* N/A N/A N/A (2,495) • To produce refill packs by 50% to
virgin plastic stretch
Total 156 253 175 (2,495) replace bottles
film by 40%
• To procure bottles made with 75%
Total (Scope 1, 2 & 3) 1,621,097 1,578,653 1,705,120 1,792,556
recycled plastic materials
* Data tracking commenced in FY2021. We plan to include more categories for Scope 3 in our future reporting. Scheduled waste data is tabulated
based on landfill, CO2 avoidance from reuse and recycling by licensed recycling center approved by Department of Environment (DOE) instead
of disposal in incineration plant. In Top Glove, most of the scheduled waste are recycled & reused through licensed contractors. In FY2021,
through recycling & reusing the scheduled waste, 2,495MT CO2-eq emissions avoidance was resulted by diverting the scheduled waste Product innovation
from the incineration process. Majority of our scheduled waste comprises of recyclable rubber content, in which it is processed and
made into rubber products, such as rubber mat or shoes. Currently, the emission from reuse & recycling process are excluded from the
overall emissions reported for Top Glove We continue to invest in research & development (R&D) towards producing more sustainable products. In FY2021, we
** Intensity is calculated based on Scope 1 and Scope 2 emissions extended our environmentally friendly product to include the following:
Emissions data disclosed covers all glove factories at Group level
Low Scope 3 emissions from flight was due to travel restrictions impacted by COVID
1. BioGreenTM Biodegradable TPE Top Grip Glove (an extension 3. Rubber sealants (produced through upcycling
from the existing biodegradable nitrile and CPE gloves, offering of reclaimed nitrile gloves)
Progress:
0.65% increase in carbon emission intensity in FY2021 compared with FY2020 due to lower production our customers a more comprehensive glove range) 4. Insulation mats (produced through upcycling of
output resulting from temporary stoppage by stages of our manufacturing facilities in Meru, Klang as per 2. BioGreenTM biodegradable nitrile gloves in darker colours. (an reclaimed nitrile gloves)
authority’s because of COVID pandemic. extension from the existing biodegradable gloves, with darker 5. Rubber Gasket (produced through upcycling of
coloured variants added in line with market demand) reclaimed nitrile gloves)

PHYSICAL IMPACTS ON CLIMATE CHANGE PHYSICAL IMPACTS ON CLIMATE CHANGE
Our existing portfolio of environmentally friendly product range, on top of our natural latex glove are: In tandem, we help support the local community by providing job opportunities, employing them to plant and maintain
trees within the plantation, details for which are below:
1. BioGreenTM Biodegradable Nitrile Powder Free Gloves 5. FSCTM Certified Latex Chlorinated Powder Free
2. BioGreenTM Biodegradable CPE Top Grip Gloves Gloves
3. Bioplant CPE Gloves 6. FSCTM Certified Inner Packaging Material No. Number of workers Nationality
4. FSCTM Certified Latex Powdered Gloves [Available for Latex and Nitrile Gloves]
1. 10 permanent workers • 7 Bangladeshis
Further, we have conducted life cycle assessment (LCA) for our BioGreen Biodegradable Nitrile glove and partial LCA for
TM • 3 Indonesians
Bioplant CPE Glove. Currently, we are looking into the following areas in terms of our glove research:
2. 30 workers (daily employment) • 15 Bangladeshis (with 5 female workers)
1. Developing accelerated glove biodegradation which is faster than the current biodegradation rate of BioGreen products • 15 Indonesians
2. Developing low carbon footprint glove products
3. Developing gloves which are able to biodegrade and provide nutrients to fertilise the soil.
In FY2021, we also supported the local community with an investment of RM18,260 in outreach programmes in Bangka
Belitung, with 20% of the investment spent to provide food aid to the local community during the COVID pandemic.
Reusing, recycling and upcycling Waste:
In FY2021, nearly 2.1 million formers have been Rubber reclaimed project
reglazed and reused
Eat Green: subsidised healthy vegetarian meals:
• All broken formers were reutilised for earth filling • Production of the following from torn nitrile gloves:
purposes related to Top Glove’s construction projects. a. 1,320,564 pcs of rubber gaskets As the Company is advocating healthy vegetarian diet for a healthier body and planet, complimentary and subsidised
Thus, broken formers are not disposed in landfills. b. 205,300 pcs of rubber sealants meals are provided to employees during Assemblies on Mondays and through the daily Subsidised Vegetarian Meal
• Savings on waste disposal: RM50,786 in FY2021 c. 340 pcs of rubber floor mats Programme respectively.
• Cost savings from former reglazing exercise: • Estimated landfill mitigation: 54.8 m³
RM16.3 million in FY2021 • Revenue: RM130,725 In FY2021, more than RM7.2 million was invested in both complimentary and subsidised vegetarian meals.
• Total cost savings: RM96,279
Other initiatives in reducing emissions
Eco Brick Programme:

Transportation:
In FY2021, Top Glove Foundation (TGF) launched the Eco Brick Programme to address plastic waste concerns and
reduce usage. Under the programme, employees are encouraged to make Eco Bricks, which are a plastic bottles
In September 2021, we have purchased 8 units of electric forklifts for centralized warehouse and target to shift the
packed tightly with plastic waste. These Eco Bricks will then be used to build modular structures such as outdoor
remaining 11 units by July 2022 through proper tuning of engine and usage of certified quality biofuel.
tables and chairs, benches, fencing and can even be used as tiles for walkways.
In addition, we are working to shift all registered warehouse lorries at factories to biodiesel, an environmentally friendly
resources. This will contribute to lower carbon emissions in our operations. Approximately 1,000
of Eco Bricks were made by
employees in FY2021
Tree Planting in Indonesia:

TGF targets to produce a
We are committed to conserve the environment 7,700

total of close to
through various approaches, and tree planting is one Eco Bricks by
of our initiatives. Top Glove owns a 30,773 hectare FY2025, with the aim
piece of land in Bangka Belitung, Indonesia which is of building the modular
currently used to plant Paulownia and Acacia trees structures for Top Glove and
for this purpose while also providing job opportunities
primary schools, as well as
to local communities.
for trading in at the local
council, the proceeds from
To facilitate this, started from 2019 to date we have
established a tissue culture lab in Bangka to cultivate which will be donated to
seedling and distributed to the site for planting. environmentalist causes.
Employees reduce single plastic waste by turning the plastic into Eco Bricks, which will
Paulownia trees planted in Culture lab to cultivate
Currently, there are 21,328 Paulownia trees and 26,933 then be used to build modular structures such as outdoor facilities.
Bangka Belitung, Indonesia seedling
Acacia trees in our plantation land.

SOCIAL: A PEOPLE CENTRIC CORPORATE CITIZEN SOCIAL:

All content and data in this page has been verified & assured by external assessor, SIRIM QAS International Sdn Bhd HUMAN RIGHTS & LABOUR MANAGEMENT RELATIONS
HUMAN RIGHTS & LABOUR MANAGEMENT RELATIONS
FY2021 SOCIAL HIGHLIGHTS Management approach: As a business with a large global footprint and
employees from diverse backgrounds including vulnerable groups such as our
foreign workers, we are committed to eradicating forced labour and creating
an inclusive and respectful ecosystem, where every employee’s fundamental
rights are respected, and is treated equally, leaving no one behind.
Investment of Contributed
RM220 RM2.2 We have in recent years been faced with allegations with regard to human rights. To address these concerns, we have since
million billion actively engaged with the relevant stakeholders, including authorities, experts and the workers to identify the areas for
to improve in income tax improvement to drive positive change, reaffirming our commitment to upholding human rights.
accommodation towards the nation’s
building and to
13,000
Our strong commitment to human rights is guided by the following international human rights instruments. We are also
for promote sustainable aligned with the implementation of UNGC, Universal Declaration of Human Rights (UDHR), the United Nations Guiding
Verified by independent
employees economic growth Principles on Business and Human Rights (UNGP) in our compliance with human rights principles. In addition, we assess
third party consultant that
and address our human rights risks and human rights impact assessment in accordance with ILO (International Labour
the Company is free of all Organisation), BSCI & SMETA guidelines/ best practices.
11 International OUR JOURNEY TO MODIFICATION OF THE WITHHOLD RELEASE
Strong representation of women in
Labour Organisation ORDER (WRO)/FINDING IMPOSED BY THE U.S. CUSTOMS AND BORDER
(ILO) forced labour indicators

our workforce: 42% at board level, Sedex Member Ethical
Trade Audit (SMETA)
PROTECTION (CBP)
52% at managerial level

10 Sept 2021 U.S. CBP modifies Finding
on Top Glove
Top Glove is a member of Sedex,
Donated RM191 million worth of financial aid, personal protective a membership organisation that
equipment and medical devices to support communities and front liners during the COVID provides one of the world’s leading
22 Apr 2021 Impactt issues “all Green” report
online platforms for companies
pandemic, including 12 million pieces of medical gloves to manage and improve working
which comfirms Top Glove has
resolved all 11 ILO indicators
conditions in global supply chains.
29 Mar 2021
9,720 job
Provided
Invested U.S. CBP announced WRO
classification to Finding
opportunities of which 85% are local

RM1.18 Amfori Business Social
Compliance Initiatives (BSCI)
million Code of Conducts
Impactt confirms no systemic forced
Jan 2021
in employee training labour at Top Glove. All forced labour
& achieved a total of
11 scholarships worth
indicators resolved
Awarded
a total of over RM½ million

355,780 As a member of amfori, Top Glove
training hours Top Glove engages Impactt, an
is in compliance with the Code Jul 2020
independent international ethical
of Conduct of BSCI, an industry-
trade consultant
driven movement that aims to
94% or 20,720 of our global workforce Helped more than
monitor and assess workplace
were fully vaccinated against COVID

1,000 needy families, schools standards across the global supply
15 Jul 2020
chain. U.S. CBP issues Withhold Release
and charity organisations Order, WRO to Top Glove
as at 25 October 2021

SOCIAL: SOCIAL:
HUMAN RIGHTS & LABOUR MANAGEMENT RELATIONS HUMAN RIGHTS & LABOUR MANAGEMENT RELATIONS
OUR POLICY ON HUMAN RIGHTS PRACTICES: UPHOLDING SOCIAL COMPLIANCE BEST PRACTICES:
2020
July The U.S. Customs and Border Protection (CBP) placed a detention order on disposable gloves Guided by the Group’s Human Rights & Ethical Conduct Top Glove views human rights concerns seriously and
manufactured by Top Glove Sdn. Bhd. and TG Medical Sdn. Bhd. on 15 July 2020. and various international human rights instruments, we has been taking aggressive steps to implement multiple
embrace the following to ensure the rights of our employees, initiatives towards improving social compliance practices
We engaged United Kingdom based independent international ethical trade consultant, Impactt Limited including migrant workers, are always respected and according to international best practices.
(Impactt) to conduct an assessment and verify our labour practices. fulfilled:
Our key initiatives in addressing social compliance:
2021
January Impactt confirmed that there is no systemic forced labour at Top Glove. All forced labour indicators resolved. Eliminating any form of child labour, modern
1
slavery, forced labour & bonded labour. We
March U.S. CBP announced classification of the WRO to Finding on 29 March 2021.
Human rights risk assessment/
have a strict policy not to recruit employees
due diligence & audits
below 18 years old and a verification
April Impactt issued “all Green” report which confirms Top Glove has resolved all 11 ILO Indicators on 22 April 2021.
mechanism in place to detect underage
o Conducted by independent
candidates.
Forced Labour Indicators Investigation CAP# CAP# Accomodation CAP# international ethical trade consultant
vs Impactt accessment completed verification verification Inspection verification
28/08/2020 October January March 2021 April 2021 Zero tolerance on discrimination, physical and
2
2020 2021
sexual violence.
Enhancement of policies & procedures
1. Abuse of vulnerability
2. Retention of identiy documents Prioritise workers’ health and safety by
3
3. Restriction of movement * * providing decent living conditions and a safe
Improvement of grievance & whistleblowing
4. Excessive overtime workplace.
channels
5. Abusive working and living conditions
6. Deception Respecting workers’ rights in relation to the
4
following:
7. Isolation Completed remediation payment to workers
8. Debt bondage
9. Withholding of wages
• Access to multi and independent-managed
grievance and whistleblowing channels
10. Physical and sexual violence ** Improvement in workers’ accommodation
• Full custody of identity documents
11. Intimidation
• Freedom of movement
o Investment of RM220 million to improve
A Green = All issues closed B Pale Yellow = Further progress made C Light Yellow = Significant progress made on issues • Freedom of association and rights to
accommodation which will benefit
Dark Yellow = Critical issues present Orange = Critical issues present, Red = Critical issues collective bargaining
D
but isolated/or in supply chain
E
but progress is being made
F
requiring immediate action 13,000 employees
• Fair working hours and rest days, and no
Note: The indicator of A to F is added in for easy refence excessive overtime
• Zero debt bondage
* It is important to note various mandatory government movement control orders (MCOs) are in place to prevent the spread of Engagement with workers through:
COVID, and thus - despite all prior issues being closed - restriction of movement remains factually present. • No withholding of wages
** ILO Forced Labour Guidence on Physical and Sexual Violence’ states...‘Forced labourers...may be subjected to actual physical or sexual o Monthly worker representatives and
violence...so as to have greater control over them.’ It is Impactt’s opinion that the instances of physical and sexual violence at TG do not result in
the company gaining ‘greated control over workers’, therefor these instances, although concerning, are not indicative of systemic forced labour. HR Department representatives
# CAP = Corrective Action Plan meeting
Source: Impactt Report, 22 April 2021, ILO Indicators in Top Glove direct operation
o Quarterly worker representatives and
Independent Consultant, Impactt Limited’s verification report Human Rights & Ethical Conduct Independent Directors meeting
Click here and scan the QR code to view our
Click here or scan the QR code to view the Independent Consultant, Impactt Limited’s verification report Human Rights & Ethical Conduct
Communicate with supply chain via town

hall sessions
September U.S. CBP modified the Finding on Top Glove on 10 September 2021
Official announcement by the U.S. CBP

Capacity building and awareness training
Click here or scan the QR code to view the official announcement by the U.S. CBP among our workforce

SOCIAL: SOCIAL:
HUMAN RIGHTS RISK ASSESSMENT/ DUE DILIGENCE & AUDITS

• 3 case receivers and 2 case masters are included in the system to uphold business ethics: honesty, integrity and
• In July 2020, the Group engaged independent international ethical trade consultant, Impactt Limited (Impactt) to conduct transparency and reduce the conflict of interest when conducting investigation/decision making.
the following on a quarterly basis: • The case receiver’s role is to receive and communicate with whistleblower via external provider while case
1. Assess the presence of forced labour by reference to the ILO’s 11 Forced Labour Indicators master to review the case and approve the investigation made by the committee.
2. Propose corrective action plans to improve the Group’s labour practices • All cases are treated with utmost confidentiality and only cases are investigated not the complainer.
3. Monitor the Group’s implementation of the corrective action plans • All whistleblowing cases are reported quarterly at the Board Audit Committee Meeting.
• Top Glove has resolved all 11 ILO indicators of forced labour as verified by Impactt • Total whistleblowing cases received in FY2021: 16 cases
• In addition to Impactt’s audit, the HR Department’s Social Compliance Team and customers initiate audits based
on international BSCI and SMETA standards Category Number of cases
• In FY2021, we achieved a “B” rating in social ethical audits conducted by external independent parties. We have Bribery / Corruption 0
set a target to achieve a “B+” rating in FY2022 and ultimately “A+” rating from FY2024
Fraud 1
Total number of announced audits 31 Total number of audits initiated and Grievances 6
5
Total number of semi-announced audits 1 paid by customers
Others (on policy & procedures) 9
Total number of audits initiated and
27
paid by Top Glove As at the reporting date, 15 cases have been closed, while investigations for the remaining 1 case are in progress.
Of the 15 closed cases, 1 case was an instance of attempted fraud by external party, which Top Glove was alerted of
through the whistleblowing channel.
ENHANCEMENT OF POLICIES & PROCEDURES
• We improve our policies to ensure the welfare and rights of our workers are safeguarded throughout the GRIEVANCE MECHANISM
recruitment process. These improvements include:
o Recruitment Agreement which is now guided by a robust Job Advertising Policy • We provide multiple grievance channels which allow our employees to raise grievance anonymously. Our recent
o Inclusion of basic salary information in the “Undertaking of Recruitment Terms”, which will be briefed and workers survey has reflected that workers are satisfied with the improved grievance mechanism.
acknowledged by all candidates prior to interview • Available grievance channels include:
o Increased the lead time for recruitment
o Revised payment terms to ensure agency has upfront payment for the processing of recruited candidates to 1. An independent grievance helpline managed by independent third party consultant, Impactt, which is
protect workers not being asked for any recruitment fee available in multiple workers’ native languages.
• We have also improved other relevant policies such as: o In FY2021, the Impactt Helpline received 1,336 calls in the following areas. As at the reporting date, 92%
o Social Media Policy List of policies of the cases have been resolved and closed, with the remaining 8% pending Impactt’s verification of
o Prevention of Sexual Harassment Policy Click here or scan the QR action taken by the Company.
code to view our list of policies
o Prevention of Bullying at Workplace Policy
o Grievance Procedure a Remediation payment d Workers stranded d e
Concluded. We have fully in their home country
remediated our foreign We are still waiting for c 1.5% 1.8%
WHISTLEBLOWING CHANNEL workers in April 2021. governmental approval to
bring workers back from 2.7% f
b Accommodation their home country. 1.6%
• Top Glove has established its Whistleblowing Policy & Procedures (WBPP) to address whistleblowing cases. For b
Concluded. We have
these, investigations are conducted by Whistleblowing Committee and all cases investigated are reported to Board improved our accommodation e Medical 1.4%
of Audit Committee (BAC). The identity of whistleblower is protected by external providers and the Whistleblowing and are in compliance We offered extensive
Committee only receives details of the complaint. The outcome of the investigation into the case is communicated with Employees’ Minimum healthcare and medical care
Standards of Housing, benefits to employees. This
via a channel provided by external provider which serves to alert the whistleblower on the results. Accommodations and has been shared to Impactt.
• Top Glove’s whistleblowing mechanism provides established channels through which our stakeholders may report Amenities Act 1990
or disclose genuine concerns about bribery & corruption, fraud, grievances, unethical behaviour, malpractices, (Act 446). f Others
We resolved and updated
illegal acts, policies & procedures malfunction or failure to comply with local & foreign bribery laws on the part
c Workers wanting to return Impactt on the status of each
of the company, of which they have become aware. All information provided by whistleblower will be taken to their home country case. Impactt closed cases
after verifying status from a
seriously and treated confidentially in accordance with the law under the Whistleblower Protection Act 2010. Ongoing. Due to limitation
• In the event of a suspected corruption or bribery activity, the Whistleblowing Committee chaired by Whistleblowing
of flights, we are arranging workers. Example of cases 91%
for workers to return to their in this category: facilities at
Committee Chairman / Managing Director will process the case, conduct investigations, take action and report home country based on the quarantine hotel, etc.
to the Board accordingly. Whistleblowing cases are investigated by Managing Director, Head of Internal Audit & priority level of workers.
Chairman Board of Audit Committee as case receivers.

SOCIAL: SOCIAL:
IMPROVEMENT OF WORKERS’ ACCOMMODATION

2. Workers’ representatives:
o Workers of all factories have the right to elect their representatives for each factory.
• We invested RM220 million to improve accommodation for 13,000 employees, which is expected to be ready in
o Every factory will have workers’ representatives from each nationality & gender, including Malaysian.
stages between end 2021 to end 2023.
o Workers’ representatives attend the following fixed engagement sessions for them to raise workplace
and accommodation concerns:
Estimated CAPEX, Target Capacity,
a. Monthly meeting with operations team and Safety & Health team from the HR Department.
Location RM’ mil pax Target Completion
b. Quarterly meeting with Independent Directors. The first quarterly meeting was held on 9 March
2021. A. Constructed by Top Glove Banting:
Lot 213 and Lot 214
1) Phase 1, Block 1 & 2 12 1,000 Early 2022
2) Phase 2, Block 3 & 4 12 1,000 End 2023
Aman Perdana, Klang: Lot 6495
3) Block 1 14 1,300 Mid 2022
4) Block 2 14 1,300 End 2023
Meru, Klang
5) Lot 5135, Block 1 & 2 27 2,200 Mid 2022
6) Lot 5117, Block 1 & 2 23 1,800 Mid 2022
7) Lot 5116, Block 3 & 4 23 1,800 End 2023
B. Purchased from developer
8) Kenangan Meru Apartment 95 2,600 Mid 2022
Grand Total 220 13,000
• Our accommodation is in compliance with the Act 446: Employees’ Minimum Standards of Housing, Accommodations
and Amenities Act 1990.
• We have submitted our application for Certification for Accommodation (CFA). Prior to issuance of the CFA, the
Department of Labour (DOL) conducted physical inspections and we were found to be in compliance with the
requirements of Act 446. As at 29 Oct 2021, 95% of our CFA applications have been approved and the remaining
24 applications are pending issuance by DOL upon conclusion of their inspections. Note: The issuance of CFAs was
affected by Movement Control Order arising from the COVID pandemic.
1 st engagement session between Independent Directors and workers’ representatives was held on 9 March 2021, • Various amenities such as a
during which topics discussed include accommodation, etc. laundromat, canteen, mini market and
recreational facilities available within the
3. TG Care Lines for workers to report harassment and bullying incidents accommodation to cater to our workers’
4. Centralised workers’ helpline daily needs.
5. Email
6. WhatsApp
7. Human Resources personnel Accommodation
improvement plan
and progress
COMPLETED REMEDIATION PAYMENT

Click here or scan the QR code to view
our accommodation improvement
plan and progress (under Improved
• Top Glove has fully remediated our workers. Accommodation section)
• A total of RM150 million remediation payment has been made.
• On top of the Zero Recruitment Cost Policy, we adopt open tender in selection of recruitment agents and
Our accommodation is in compliance
conduct due diligence on our recruitment agents. with the Act 446: Employees’ Minimum
Standards of Housing, Accommodations
and Amenities Act 1990

SOCIAL: SOCIAL:
HUMAN RIGHTS & LABOUR MANAGEMENT RELATIONS OCCUPATIONAL HEALTH & SAFETY
COMMUNICATING WITH SUPPLY CHAIN VIA ENGAGEMENT WITH WORKERS OCCUPATIONAL HEALTH & SAFETY
TOWN HALL SESSIONS
• Guided by the Group’s policy on Human Management approach: Investment in employees’ health and safety is the best
• We are committed to building a sustainable business Rights and Ethical Conduct, workers have the prevention towards any negative impacts such as risks on health & safety of
in our operations together with our business partners. right to freedom of association and collective our employees & low productivity. At Top Glove, we recognise our responsibility
• Our business partners affirm their commitment bargaining. in providing a safe and healthy workplace for our employees by enhancing the
towards sound and sustainable business practices • Our subsidiary, Eastern Press Sdn Bhd is safety process within our operations, providing necessary technical and educational support in occupational
by signing Top Glove’s Business Partners’ Code of covered by collective bargaining agreements, safety and health as well as enhancing our healthcare initiatives.
Conduct. with the notice period for consultation and
• We share our values particularly in the area of labour negotiation specified in collective agreements.
practices with suppliers via town hall sessions, • In operations where formal unions do not exist,
OCCUPATIONAL SAFETY: We conduct workplace safety & health risks assessment
followed by post-town hall audits to cultivate the all workers are covered under the Workers
through:
human rights awareness & best practices. Welfare Committee, for which workers in every
Guided by the Group’s Occupational Safety & Health
• On 30 September 2021, we invited our suppliers to factory have the right to elect their respective
participate in our inaugural Top Glove Sustainability worker representatives for each nationality (OSH) Policy, the Safety Department and Committee which a. Observation, interviews and implementation of Hazard
Webinar: Suppliers & Contractors with a view to and gender. Engagement details with worker consists of 1,099 members from management, staff and Identification, Risk Assessment and Risk Control
communicating Top Glove’s ESG practices and our representatives are articulated under the worker representatives, leads the safety management (HIRARC), the relevant trainings for which have been
expectations of our intermediaries. “Grievance Mechanism” section. initiatives and strategies of the Company. provided to employees. Through HIRARC, following
feedback from workers, an accident investigation will
Workers’ participation in the OSH management system be conducted with the Safety and Health Committee,
is equally important in the Company. At quarterly Safety process owner with the involvement of related staff and
ENHANCE HUMAN RIGHTS TRAINING AND AWARENESS
and Health Committee meetings, which provide a forum workers. For example, through HIRARC, we identified
• Towards making our engagement with workers more effective and instilling human rights awareness among our for discussion about OSH matters at workplace, there is working at height without proper railing or safety harness
workforce, our initiatives include: equal representation from worker representatives who have as one of the safety hazards and have taken corrective
a. Collaborated with International Organization for Migration (IOM) in and March 2021 to conduct a series of the right to raise any health and safety related matters for action to install proper railings at the platform.
workshops to combat forced labour. We trained about 100 targeted participants on International Recruitment discussion and resolution.
Integrity System (IRIS) & Corporate Responsibility in Eliminating Slavery and Trafficking (CREST) topics. The b. Implementation of monthly Corrective Action and
primary purpose of the collaboration is to promote stronger migrant employment and ethical recruitment As at September 2021, a total of 3 factories, namely factory Preventive Action (CAPA), through Safety and Health
practices in our operations and supply chain. IRIS helps identify ethical labour recruiters and align their F5, F9 and F23, or 6% of total factories were certified with Committee meeting with the participation of staff and
business practices to the IRIS standard, while CREST promotes the awareness of modern slavery and guides the Occupational Health & Safety Management System workers.
companies to eradicate it.
ISO 45001:2018. Considering the large number of factories
b. We had several in-house sessions on Ethical Labour Practices and Understanding the Social Compliance
we have, we aim to certify another 10 factories with ISO c. Implementation of unsafe condition and unsafe act
Audit facilitated by our internal experts, which have garnered close to 400 participants including our Head of
45001:2018 in FY2022, which brings the total certified (UA/UC) monitoring and reporting through TG
Departments and Human Resources Business Partners.
c. Conducting various town hall style meetings, workshops, and social dialogues sessions for workers. factories percentage to 28%. We target to certify 100% of GOODSAFE online reporting.
d. Making worker representation more effective and holding regular meetings with the management. our factories with ISO 45001:2018 in FY2025.
e. Organising joint training sessions with workers, supervisors and the management on prevention of workplace Top Glove Good Safe Programme:
bullying policy. We have key assessment monitoring systems in place for
f. Educating workers to raise the following: In September 2020, we launched Top Glove Good Safe
grievances on available grievance Programme to all Malaysia factories. The Good Safe
channels, especially the Programme is an analytic tool to predict focus area in
a.
a Chemical Health Risk Assessment (CHRA)
independent grievance helpline avoiding unwanted incident.
managed by Impactt. b. Noise Risk Assessment (NRA)
b
g. In FY2021, a total of 7,095 training Factory’s safety officers to have safety walkabout to identify
hours on human rights policies or c.
c Chemical Exposure Monitoring (CEM)
hazards through unsafe act & unsafe condition (UA & UC)
procedures concerning aspects
d. Audiometric, Local Exhaust Ventilation (LEV)
d based on BSCI standards, UA & UC to be tracked in the
of human rights that are relevant
system to ensure action being taken. Every “Good Safe”
to operations were conducted for e.
e Heat stress
215 staff. Number of training hours needs to be prioritized to close it eg. if high severity within
increased 761% from 824 hours in f.
f Medical surveillance 2 hours, or up to 5 days for moderate/low risk cases.
FY2020.
g. Indoor Air Quality
g We managed to achieved 90% of closure rate in FY2021,
h.
h Control of Industrial Major Accident Hazards (CIMAH) compared with 80% of target set. It is in the pipeline to
Assessment train non-safety officer committee to conduct the Good
Safe walkabout.

SOCIAL: SOCIAL:
OCCUPATIONAL HEALTH & SAFETY OCCUPATIONAL HEALTH & SAFETY
Safety training:
FY2021 accident rate: Our strategies towards achieving these targets include:
We continuously conduct training to improve and enhance employees’ safety awareness to prevent accidents and incidents.
3.24 per 1,000 workers
Trainings include Work Instruction (WI) covering safety precautions which are provided to workers. Other training scopes 1. Promoting the concept of Plan, Do, Check, Act (PDCA)
include HIRARC, PPE, chemical spillage, machinery handling, Emergency Response Team, working at height, etc. and continuous improvement on safety and health across
Short term target:
all levels in the organisation
To reduce accident rate by
Safety Committee & Officers Non-Safety Committee & Non-Safety
attended safety training (%) Officers attended safety training (%)
9.5% to 2.93 per 1,000 workers 2. Focusing on engineering control to reduce safety and
in FY2023 (against FY2021) health risks
21.3% 78.7%
Medium term target: 3. Strengthening the safety and health training program
To reduce accident rate by
4. Enhance Contractor Management System
14% to 2.77 per 1,000 workers
Safety data:
in FY2025 (against FY2021)
5. Continuous audits and inspections
In FY2021, we regret to report that there were 2 contractor fatality cases, in which the contractors fell from height while
carrying out their tasks due to insufficient Method of Statement by the contractors and lack of on-site supervision.
We also recorded 2 cases of contractor work-related injuries.
We are determined to continue our mitigation efforts to keep both our employees and contractors safe. We have taken PROMOTING WELLNESS:
immediate action to install more proper railings at the platforms and have also tightened our permit process for contractors.
All contractors without proper safety PPEs will not be allowed entry to Company premises. We also continuously emphasise Towards looking after the mental and physical health of our employees, Top Glove provides comprehensive healthcare
building organisational capacity and operational controls that will act as a barrier to accidents being escalated to life facilities and has multiple initiatives in place in the form of holistic wellness programmes. As at 17 September 2021,
changing or fatal outcomes. Top Glove also had a 46 strong team of wellness professionals dedicated for this purpose.
In the same reporting year, we also regrettably recorded 1 employee workplace fatality, where the victim was electrocuted
having come into contact with a broken lamp bulb. To safeguard against future reoccurrence, the following preventive
We Provide the Best Healthcare to Our Employees
actions have since been implemented:
Top Glove has 46 Wellness Team Members as at 17 September 2021
1. Light bulb relocated to a place with lower foot traffic
2. Changed to a safer type of bulb
3. Carried out periodical inspections on lighting system
4. Installed RCBO (Residual Current Breaker with Over Current) 32 Medical
Professionals 2 Ambulances
11 Wellness
Professionals 3 Fitness
Professionals
Employees safety data 10 Medical Doctors 4 Nurses 7 Nutritionists 1 Fitness

Financial Year FY2018 FY2019 FY2020 FY2021 Trainer
Employee fatalities rate (percentage) 0 0 0 0.01 1 Dentist 5 Clinic Admins 1 Dietitian
Number of employee fatality case 0 0 0 1
2 Fitness
2 Mental Health 4 Paramedics 1 Naturopathy Assistants
Percentage of employees covered for LTIFR (%) 100 100 100 100 Counselors Wellness
Lost-Time Injury Frequency Rate (LTIFR) 1 Radiographer Consultant
(number/ a million hours worked) 1.0 0.9 1.1 0.92 4 Medical
Number and rate of high consequence Number: 71 Assistants 1 Branding
N/A N/A N/A
work-related injuries (including fatalities) Rate: 3.24 Executive
1 Assistant
Pharmacist 1 Health Admin
Progress:
Executive
Improvement of LTIFR was due to effective implementation of the TG Good Safe Programme, inspection
on hazard spotting monitoring and frequent trainings. This has led to the reduction of cases by category
such as sharp object/ edge, chemical and falling.
The medical team is managed by Top Glove Global Doctors Medical and Dental Clinic (TGGD) in Meru, Klang as our
occupational health provider. TGGD attends to our Klang workforces’ health and safety needs, and also those of the
communities nearby.

SOCIAL: SOCIAL:
OCCUPATIONAL HEALTH & SAFETY 1. OCCUPATIONAL HEALTH & SAFETY
2. INFECTIOUS DISEASES
Our key initiatives in promoting good physical and mental health:
To support employees in achieving work life integration for maximal well-being, Top Glove has implemented a series of
Launching of Workers Health Protection Programme family friendly policies below in FY2021:
Zero Harm on Health talks (WHPP) which is fully subsidised by Top Glove
Mental Health for employees and entitles workers to complimentary blood
Progamme screening, vision and hearing assessment. Extended maternity leave up to 67 consecutive Working parents with child under the age of 12 and
days on full pay. This is in excess of the legally expectant mothers have the option to work from
Promoting 5 Healthy Wells: Subsidised healthy vegetarian meals delivered required minimum of 60 days. home for an aggregate of 30 days in a year or to
to employees’ factories/offices. In FY2021, change work shift schedule.
Clean Eat Work Exercise Sleep we invested RM7.2 million in supporting Mothers are given an option to have additional
Well Well Well Well Well
employees with 1.44 million healthy 23 consecutive days of work from home after Fully-paid family care leave to support our
vegetarian meals. This included 22,000 maternity leave, so that they can ease into work employees who care for immediate family members
packs of complimentary vegetarian meals for while still attending to their newborn. diagnosed with terminal illness, injuries, disabilities
Quarterly BMI (Body Mass Index) monitoring or in need of special medical attention.
Monday assembly and 1.42 million subsidised
meals to reduce the need to commute for Paternity leave is not stipulated in Employment Act
Weight Management Programme: “Mission Slim 1955. However, we have further extended fully-paid Flexible work arrangement in addition to family
food, thus minimise the exposure risks
Possible” & “Gain It Right” with nutritionist guidance paternity leave up to 3 days for all working fathers. care leave. Employees have an option to work
during the pandemic. Under the subsidised
for ideal weight management. from home for an aggregate of 10 days in a year
vegetarian meal programme, the Company
subsidises RM5 for each staff’s meal, After completing the paternity leave, depending on eligibility and specific needs.
Complimentary while workers need only pay RM1 for each staff have an option to have 14 consecutive
Complimentary
access to gymnasium subsidised meal. The Company has a total of days to work from home to facilitate bonding Upgrading of nursing rooms to support
counselling
facilities & sports 114 vegetarian employees. with their newborn. breastfeeding employees.
services
subsidy
In FY2021, we recorded an average of 2.18 days of sick leave per employee (man days lost 0.7%). Average hospitalisation
Parental leave data:
leave per employee during the same reporting year was recorded at 0.3 days with man days lost of 0.095%. Both sick leave
and hospitalisation leave were mainly COVID related, for which employees with symptoms underwent self-quarantine at
home or were admitted to hospital. Scope Gender FY2021 (number)
Total no. of employees who were entitled to parental leave Female 4,478
In an effort to raise mental health awareness in the corporate sector, promote mental wellness and break the stigma Male 5,698
about mental health in the workplace, Top Glove launched its inaugural Zero Harm on Mental Health programme on
Total no. of employees who took parental leave Female 195
10 October 2021, in conjunction with World Mental Health Day.
Male 165
Initiated by the TGGD Mental Health Clinical and Crisis Support Team, this programme, together with the existing Total no. of employees who returned to work in the reporting period Female 195
Zero Harm and Safety Health Emergency Preparedness Programme introduced in 2019, provides a comprehensive
after the end of parental leave
safety and wellness action plan for Top Glove employees. Male 165
Key highlights of the Zero Harm on Mental Health

programme: INFECTIOUS DISEASES
a. Educational posters and information cards in Management approach: Our response to the COVID pandemic underscores
seven (7) different languages in factories, offices our commitment towards being a people centric corporate citizen while
and hostels on how staff and workers can reach ensuring business sustainability. We prioritise the safety of our employees
out for help, as well as tips on how they can and stakeholders, whilst continuing to produce high quality medical gloves,
manage their mental wellbeing. This will also be adapting to the new norm in global business environment and supporting the community and front liners.
accessible via the Workers Learning App, which
all workers have access to.
b. Facilitates the prompt management of crisis and The COVID pandemic has led to the surge of demand of medical gloves globally. During the challenging period, we have
Top Glove Founder and Executive Chairman Tan Sri Dr Lim
employees’ mental health symptoms through
Wee Chai (right) receives a green ribbon pin badge from worked hard to produce high quality medical gloves to meet the needs of our customers. The 4 key ways in which we
crisis intervention and counselling, as well as Malaysian Mental Health Association President Professor have responded to ensure we protect our people, support the community and business partners while ensuring business
psychotherapy. Dato’ Dr Andrew Mohanraj (left), as a symbol of his support
sustainability are as articulated in the next page:
of promoting mental wellness

SOCIAL: SOCIAL:
INFECTIOUS DISEASES DIVERSITY & INCLUSION
a. Prioritising health and safety of our workforce c. Keeping our business partners connected DIVERSITY & INCLUSION
• Improvement of workers’ accommodation 1. We continuously reviewed our operational

i. Please refer to “Human Rights” section on page 115 for strategies to support our customers and Management approach: At Top Glove, we embrace diversity and inclusivity as we believe
further details. improve our production efficiency on an ongoing a diverse and respectful culture is the key to boosting staff morale, retaining talent and
• COVID vaccination for employees basis, towards maintaining a competitive edge. improving productivity. We are committed to providing equal opportunities in recruitment
i. In support of the Malaysian Government’s effort to 2. Leveraged Digital Enhancement Project to and career growth, and have zero tolerance for discrimination whether based on gender,
achieve a higher vaccination rate in Malaysia, Top track and analyse data more effectively. ethnicity, nationality, cultural background, marital status, disabilities, political inclination, union membership,
Glove has commenced its on-site COVID vaccination 3. We supported our vendors, ensuring their religion, sexual orientation or age.
programme under Program Imunisasi Industri COVID continuous operations and facilitated delivery
Kerjasama Awam Swasta (PIKAS) on 19 July 2021 in of goods to Top Glove with issuance of support
Meru, Klang, Selangor. As at 25 October 2021, 94%, or letters.
Our diverse global workforce (in number):
20,720 of our global workforce were fully vaccinated. 4. We continuously sourced and onboarded new
reputable vendors to sustain our business. Group Category FY2018 FY2019 FY2020 FY2021
5. We worked with a minimum of 3 vendors for
each item procured to ensure no shortage of Total no. of
17,226 17,539 20,835 22,741
employees
any material.
6. We supported our critical customers with Nationality Malaysia 3,600 4,380 7,590 10,176
sharing of shipment costs when shipment cost Thailand 924 953 409 1,333
surged during the pandemic.
7. We increased our communication with our China 351 256 290 234
suppliers via online platforms to better Vietnam 165 95 164 294
coordinate raw material deliveries.
Myanmar 445 472 1,218 827
d. Product and customer base diversification Indonesia 139 542 939 834
• COVID helplines to support employees on all COVID related Nepal 5,968 4,779 4,555 3,698
enquiry • We diversified our product range and penetrated
Bangladesh 5,095 5,677 5,447 5,171
• Frequent disinfection new markets by venturing into manufacturing
• Provision of essential PPEs including face masks and non-glove products such as facemasks, hand Others 539 385 223 174
sanitisers sanitizers, liquid hand wash, tourniquets and By Permanent 4,879 5,588 19,750 21,532
• Designated isolation hostels for workers in need of quarantine rubber reclaimed rubber products. employment
Contract 12,347 11,951 333 391
• Leveraging technology for safe communications • We embarked on e-Commerce platforms such type
• Risk assessment and tracking as TGeBuy, Shopee & Lazada to retain and Interns 548 1,029 752 818
• COVID helpline and careline attract customers during the pandemic. By category Lower management 13,813 13,340 15,441 15,915
• Healthy vegetarian meal subsidy and delivery to reduce the • We invested in enhancing the Customer Portal
need to commute for food features, enabling customers to self-serve in Junior management 1,289 1,497 2,047 2,617
• For more details of our COVID preventive measures, please terms of retrieving documents, checking order Middle management 1,671 2,190 2,775 3,523
visit to: status and accessing other relevant information.
Upper management 398 453 506 603
• To ensure uninterrupted supply, we established
our in-house supply such as concentrated latex Senior management 47 53 52 69
COVID Preventive Measures
and packaging material. Executive management 8 6 14 14
Click here or scan the QR code to view our
COVID preventive measures • With product hygiene as a top priority, we
By age group Below 30 10,410 10,523 13,559 14,812
invested in “contactless” automated packing
and handling systems to ensure that our gloves 30 - 50 6,399 6,665 6,888 7,525
b. Supporting humanitarian and emergency relief efforts transit from the production line into packaging Above 50 417 351 388 404
without human intervention, minimising the
By ethnicity Malay N/A 2,741 4,837 6,720
• Through our charity arm, Top Glove Foundation, we rolled out possibility of contamination. Adoption of
(Malaysia only)
and supported various community outreach programmes to automation has resulted in significantly lower Chinese N/A 958 1,569 1,765
support the community during this challenging time, such costs and has increased manufacturing Indian N/A 619 1,051 1,263
as Lend A Hand (LAH) Project, Blind Masseurs Project, Rise efficiency. Our productivity surged by 80%,
Against Hunger & Yayasan Food Bank Projects. Please refer with workers per million pieces of gloves Others N/A 56 120 428
to pages 131 to 132 in this report for more information. (WPM) dropping from 8.4 WPM to the current
• Donated RM191 million in financial aid, PPE and medical 1.8 WPM, reducing our dependency on manual Malaysia workforce (in number):
devices to support communities and front liners during labour. This assists us in overcoming the labour
the COVID pandemic, including the donation of 12 million shortage caused by restrictions on recruiting Category FY2018 FY2019 FY2020 FY2021
pieces of medical gloves. migrant workers as a result of international
Nationality Malaysian 3,592 4,378 7,589 10,161
• Food aid to local community in Bangka Belitung, Indonesia. border closures.
Non-Malaysian 11,575 12,472 11,459 10,183

SOCIAL: SOCIAL:
DIVERSITY & INCLUSION DIVERSITY & INCLUSION
Gender diversity: Prevention of Harassment & Bullying:
Financial Year FY2018 FY2019 FY2020 FY2021 In FY2021, a total of 34 harassment incidents were reported and resolved. Throughout the investigation process, we
Employee breakdown by gender (in numbers) ensured that the affected employee’s safety was well protected at all times, which included concealing their identity. As a
responsible employer, we continue to look for ways to go above and beyond in supporting the wellbeing of our employees.
Female 4,160 4,386 6,052 7,030
In line with our efforts, we have also proactively engaged with professional counselling service providers to assist our
Percentage 24% 25% 29% 31% employees during these difficult times. At the same time, stern disciplinary actions including dismissal, will be taken against
Male 13,066 13,153 14,783 15,711 the perpetrators if proven guilty upon investigation.
Percentage 76% 75% 71% 69%

The improved grievance mechanism in place has provided our employees a safe platform to raise grievances. Besides our
strategies in effectively enhancement of the grievance mechanism, preventing harassment also include:
Leadership positions (managers & above) held (in numbers)
1. Enhancement of our policies, which include:
Female 240 282 306 229
a. Prevention of Sexual Harassment Policy
Percentage 54% 55% 53% 52% b. Prevention of Bullying Policy
Male 207 230 266 212 c. Grievance Procedures
Percentage 46% 45% 47% 48%

2. Periodically reviewing our policies
Board of Directors’ gender diversity (in numbers) 3. Training and awareness among employees
Female 4 5 5 5
Recruitment:
Percentage 33% 42% 42% 42%
Male 8 7 7 7
Total new recruits (number) 5,342 4,570 6,264 9,720
Percentage 67% 58% 58% 58%
Breakdown by age group (percentage, %)
Below 30 77 78 87 88
Number of staff with Percentage of female employees in a 30 to 50 22 21 12 11

differing abilities recruited: 27 persons management position in the Marketing Department: 61% Above 50 1 1 1 1
Percentage of female employees in top management position (Executive management & senior management): 31% Breakdown by gender (percentage, %)
Female 16 33 40 38
Male 84 67 60 62
Basic salary ratio of men Our targets in demonstrating best gender diversity practices:
to women
o Short term: Breakdown by nationality (based in Malaysia, percentage, %)
Male employee ratio of
entry level wage
To achieve 44% female participation in managerial position in FY2022 Malaysian 23 44 81 85
to minimum wage: 1:1 o Medium term: Non-Malaysian 77 56 19 15
Female employee ratio of To achieve 50% female participation in managerial position in FY2025
entry level wage TVET Recruitment
to minimum wage: 1:1 Status as at FY2021:
TVET (Technical and Vocational Education and
52% female participation in managerial position Training) students recruited
N/A* N/A* 641 2,962**

** Increase in TVET intake was due to impact from COVID, which resulted in recruitment of more skilled workforce

SOCIAL: SOCIAL:
DIVERSITY & INCLUSION DIVERSITY & INCLUSION
Turnover: Employee training hours:
Staff Turnover Management category Training hours Training Details (per employee) Training hours
Financial Year FY2018 FY2019 FY2020 FY2021 Lower 34.94 Average training hours 63.15 hours
Turnover rate 17.73% 16.30% 18.60% 18.50% Junior 102,317.18 Average days of training 9.02 days
Manufacturing industry turnover rate 17.76% 16.68% 15.78% 15.5% Middle 209,942.05 Average training hours
(based on calendar year) (year 2017) (year 2018) (year 2019) (year 2020) 71.34 hours
Upper 39,985.35 (Female employee)
Senior 3,114.65 Average training hours
Breakdown by age group (percentage, %) 55.51 hours
Executive 389.87 (Male employee)
Below 30 79.71% 74.51% 78.80% 80.50%
30 to 50 17.42% 20.78% 17.70% 18.50%
Effectiveness of training (percentage of training Total voluntary hours clocked by employees
Above 50 2.86% 4.71% 3.40% 0.90%
has met its objective): 89.00% 61,152 hours
Breakdown by nationality (based in Malaysia, percentage, %)
Malaysian 97.14% 86.53% 89.78% 90.30%
Staff engagement survey:
Non-Malaysian 2.86% 13.47% 10.22% 9.70%
In FY2021, to further enhance workplace inclusivity and improve internal processes, the Company engaged an independent third
party consultant to conduct an anonymous employee engagement survey. Being the first year we worked with an external party
Worker Turnover for the exercise, we started with a representative sampling size of 4,000 respondents, covering all demographics of employees,
Financial Year FY2020 FY2021 across all levels, job grades, years of service, annual performance ratings and the like.
Turnover rate 21.37% 26.47%

The survey yielded a response rate of 79%. This was slightly lower than those of the previous financial years, as the questions
20.52% 24.36% and methodology used differed from those when the survey was done in house, towards garnering more targeted feedback.
Manufacturing industry turnover rate (based on calendar year)
(year 2019) (year 2020) Employee satisfaction scores (those within the Above Average Satisfaction category) decreased in comparison with preceding
years, against the backdrop of the pandemic, during which the company continued operating, having been classified as
Breakdown by age group (percentage, %) essential services. This resulted in the need for operations staff to be stationed on-site, rather than work from home, as the
Below 30 71.65% 77.13% Company endeavoured to fulfil the urgent global glove demand.
30 to 50 27.49% 22.30%
Based on the survey results which identified room for improvement in work environment, as well as rewards and recognition,
Above 50 0.86% 0.57% strategic intents were developed with a view to strengthening these key areas under the Human Resources pillar. These
included streamlining the pipeline for key and mission critical positions, creating impactful leadership programs, revamping
Breakdown by nationality (based in Malaysia, percentage, %) the Performance Management System and conducting a Job Analysis/Job Evaluation Exercise to develop a more robust
Malaysian 53.54% 70.01% Rewards Framework.
Non-Malaysian 46.46% 29.99%
Staff engagement survey results:
* Tracking of workers’ turnover rate commenced in FY2020 Financial Year FY2018 FY2019 FY2020 FY2021
Percentage of total employees covered 90% 90% 90% 79%
Talent development:
Survey results with Above Average Satisfaction 58.79% 70.83% 75.23% 49%
Upholding the principle of equal treatment and inclusivity, we believe every employee has the right to
access to trainings and well-being treatment. We take great pride in the professionalism and talent
exhibited by our people who consistently raise our brand name. Worker engagement survey:
We launched the Top Glove Workers’ Learning App (TGWLA) for our workers in Malaysia to enable our We also rolled out worker engagement survey in FY2021, the results of which showed an improvement compared with the
workers to perform mobile-based learning too. This mobile app caters a wide range of multilingual previous year. Generally, workers are satisfied with the hostel improvement initiatives and the training sessions provided
videos, articles and assessments to enhance and support learning ranging from technical, safety, soft Click here or scan the such as the Company’s Grievances Mechanism and Prevention of Sexual Harassment and Bullying. The Company is in
QR code to view our
skills and mental health topics. To enlist workers’ acceptance, over 100 familiarization sessions were talent development
progress to conduct a feasibility study on improving recreational facilities and recognition initiatives.
initiatives
conducted in their native languages spanning about a year.
Worker engagement survey results:
Categories of training: Financial Year FY2020 FY2021

Total training
investment in FY2021: Total of 355,780 70% technical and functional, Percentage of total employees covered 70% 85%
training hours achieved
RM1.18 million 30% soft skills
Survey results with Above Average Satisfaction 84% 88%

SOCIAL: SOCIAL:
PRODUCT QUALITY & SAFETY SUPPLY CHAIN MANAGEMENT
PRODUCT QUALITY & SAFETY SUPPLY CHAIN MANAGEMENT
Management approach: We are committed to manufacturing products which meet the Management approach: Implementing good ESG practices at our own operations is not
highest quality and safety standards. As a global healthcare product manufacturer who sufficient as the value chain poses significant impact for business sustainability. Guided by the
has customers in 195 countries, we adhere to a stringent quality assurance process, Top Glove Business Partners’ Code of Conduct, we share our ESG values with our business
ensuring we comply with each country’s requirements. partners, to ensure a sustainable business relationship and business operations in all the key
important areas, including human rights, environmental compliance and business ethics.
To improve our competitive edge, we strive to ensure continuous improvements, but also breakthroughs in processes and
technology to achieve quality excellence. Key strategies in improving our product quality & safety include the following: We are committed to ethical sourcing and responsible consumption, ensuring the products manufactured by us are truly
sustainable. Our strategy in ensuring sustainable supply chain management includes supplier audit in terms of ESG metrics
and traceability, such as Forest Stewardship Council (FSC) certification.
a. Investing in Research & Development (R&D), digitalisation and automation
a. Please refer to page 54 in “Letter to Stakeholders and Management Discussion & Analysis” section for details. In FY2021, we enhanced our existing supplier audit checklist to address ESG concerns in the supply chain. Our set target
in supplier assessment are as below:
b. Implementation of Quality Management System

a. As at FY2021, 100% of our glove factories are certified with Quality Management System (QMS). We target
FY2022 To conduct FY2023 To conduct supplier audits FY2025 To conduct
to certify 100% of our non-glove factories with QMS in FY2022.
supplier audits in terms of ESG metrics traceability
in terms of ESG on a total of 100% active audits on
metrics on a total critical suppliers & ensure 100% of our
c. Enhancing skills and knowledge of employees, for example: of 70% active 100% compliance for natural latex
a. Structured Packing Executive Enrichment & Development (S.P.E.E.D) Programme, a 4-month job specific critical suppliers new suppliers suppliers
development training programme for Packing Executives.
Forest Stewardship Council (FSC) certification:

d. Suppliers training on product quality
a. Product quality is a key agenda in our engagement session with suppliers the inaugural Top Glove Both our latex concentrate plants (Factory F16L and F17L) in Thailand are Forest Stewardship Council™, FSC certified;
Sustainability Webinar: Suppliers & Contractor for which was held on 30 September 2021. Factory 16L (SGSHK-COC-470093) was certified since June 2019 while Factory 17L (CU-COC-874579) was certified in
January 2021. Meanwhile, one of our glove factories located in Malaysia, Factory 13, also received its FSC™ certification
(CU-COC-877534) in March 2021.
e. Compliance with product labelling regulations

In FY2022, we aim to obtain certification for our packaging material factory, Factory F34PM and one additional glove
a. In FY2021, there were no incidents of non-compliance with regulations concerning product labelling or production factory.
marketing communications (including advertising and promotions) for our in house brands.
b. On 6 September 2021, we published the Top Glove Advertising and Product Representation Principles and Supply chain data:
trained the relevant personnel on the core advertising principles and unacceptable general claims.
c. 100% of our significant products are covered by and assessed for product labelling compliance. In FY2021,
Type of supplier Absolute number of suppliers Share of total procurement spent (%)
we have zero incidents of non-compliance with regulations concerning:
i. Product information and labelling Total tier 1 suppliers 4,005 100%
ii. Marketing communications, including advertising, promotions and sponsorship Critical tier 1 suppliers 327 65%
Financial Year FY2018 FY2019 FY2020 FY2021 Percentage of procurement budget spent on local Percentage of local suppliers by country:
suppliers by country:
Number of product recalls 0 0 0 0
Country Percentage (%)
Number of regulatory agencies inspection 0 0 0 0 Country Percentage (%)
Malaysia 75
Malaysia 49
Number of Form 483 Observations and FDA Thailand 17
Warning Letters received 0 0 0 0 Thailand 30
Vietnam 4
Vietnam 1
Other 4
Other 20

SOCIAL: SOCIAL:
1. SUPPLY CHAIN MANAGEMENT 1. SECURITY MANAGEMENT
2. CUSTOMER EXPERIENCE 2. LOCAL COMMUNITY
Supplier assessment: Customer satisfaction survey:
No. and percentage of critical suppliers assessed on ESG criteria Our customer satisfaction survey focuses on four key areas for customers: price competitiveness, product quality, delivery
159 critical suppliers, or 49%
(based on all critical suppliers) and services. From the survey results, we conducted an analysis to identify areas for improvement. In the first half of
No. of self-audits conducted 122 FY2021, we scored low in terms of price competitiveness and delivery. Due to the COVID pandemic which had resulted in
exceptionally high glove demand and long lead time, delivery of glove products had been affected and this has reflected
No. of site audits conducted 37
in the customer satisfaction survey results. Concerted efforts were made to address this issue, including organic factory
Percentage of new suppliers screened using environmental criteria 94%
expansion and increasing our capacity to better meet market demand.
Number of suppliers assessed for environmental & social impacts 159 suppliers
Supplier assessment has been affected by travel restrictions during the Movement Control Orders imposed by the government. Financial Year FY2018 FY2019 FY2020 FY2021
Customer satisfaction (%) 77 74 72 71
Supplier town hall
Percentage of total customers responded (%) 12 19 19 14
In FY2021, we held 4 supplier town halls covering 412 suppliers, focusing on social compliance practices. Suppliers who
attended included our packaging material suppliers, manpower agents, chemical suppliers, latex suppliers and canteen
operators.
SECURITY MANAGEMENT
Topics covered in the town hall are:
Management approach: The safety of our employees, premises including hostels and assets is
1. Employees’ Minimum Standards of Housing, 2. Top Glove’s Business Partner Code of Conduct very important to the Company. Top Glove is one of few Malaysian companies with its own pool of
Accommodations and Amenities Act 1990 (Act 446) 3. Occupational safety and health auxiliary police towards guarding the safety and security of our employees and premises.
On 30 September 2021, we invited our suppliers to participate the inaugural Top Glove Sustainability Webinar: Suppliers &
Contractor to communicate Top Glove’s ESG practices and our expectations on our intermediaries.
In FY2021, we increased our auxiliary police by 83% to 150 auxiliary police to safeguard Top Glove premises including Top
Glove Tower (our headquarters), hostels, Klang & Malaysia factories located outside Klang areas.
CUSTOMER EXPERIENCE
Leveraging on digitalisation, we improved our security mobile application ResQ which employees may use to report any
Management approach: We frequently engage with our customers to understand their needs, safety/security incidents, rolling out Version 2.0, which was improved to be more user friendly and efficient. During the same
identify our shortfalls and new win win business opportunities. We define good customer reporting year, we have also expanded the Security Operation Management System ISO 18788 certification scope to cover
satisfaction as not only entailing high quality and efficient low cost products, but also ethical factories located outside Klang areas.
business practices and robust protection of customers’ data.
LOCAL COMMUNITY
Ethical marketing practices:
Management approach: we are committed to creating
Top Glove further solidified our commitment to ethical zero tolerance on corruption and bribery, and sustainable positive and long term community impacts for a
business practices through the establishment of the Sales business practices, the Sales & Marketing Code of Conduct sustainable future, especially for the generations to
& Marketing Code of Conduct, which covers principles of ensures our employees always exhibit a level of ethical come. The Top Glove Foundation (TGF) is the Company’s
sales, marketing and advertising. behaviour that exceeds legal requirements. main charity arm for community support and outreach initiatives, which focuses on community development,
education support and environmental conservation.
Towards ensure our personnel deliver exceptional
customer service, a variety of E-learning modules, and
Sales & Marketing Code of Conduct
training programs are conducted continuously to all Sales • In FY2021, a total investment of RM702,252 has been made to support
Click here or scan the QR code to view our and Marketing employees to ensure the utmost compliance
Sales & Marketing Code of Conduct various causes initiated by TGF Community engagement
with the Sales & Marketing Code of Conduct, and to equip
• As of FY2021, a total of RM30.6 million in various contributions was made by initiatives
them with comprehensive product knowledge, and other
TGF
soft skills. Click here or scan the
Encompassing the aspects of sales, marketing and • Total volunteer hours contributed by employees in FY2021: 61,152 hours. Out QR code to view more
community engagement
promotional activities, ethical customer engagement, In the past 4 financial years, there were no legal actions or of these volunteer hours, 44,851 hours were related to supporting pandemic initiatives
safeguarding of information, providing accurate and fines related to anti-competitive behaviour and violations of related initiatives such as glove packing, PIKAS vaccination program and
balanced information about our products and services, anti-trust and monopoly legislation. delivery of PPE donations

SOCIAL: SOCIAL:
LOCAL COMMUNITY LOCAL COMMUNITY
COMMUNITY DEVELOPMENT: EDUCATION SUPPORT: ENVIRONMENTAL CONSERVATION:
We support the communities in need LEND A HAND (LAH) EDUSHARE PROGRAMME GROW GREEN PROJECT ECO BRICKS:
through various projects such as PROJECT 11 scholarships GIVE THE EARTH A BREAK
philanthropic giving, food aid and awarded with total
internship opportunities. In FY2021, value of more than To construct plastic bottle packed
we have reached out and helped more tightly with used plastic waste to
than 1,000 needy families, schools and RM½ million upcycle into modular structures
charity organisations. in FY2021 such as tables and chairs to drive
awareness in terms of reducing
and reusing plastic waste
BLIND MASSEURS PROJECT As at FY2021,
a total of
109 scholarships 330 employees involved
were offered,
with monetary Donated 17 units of reconditioned
volunteer hours
investment value of and usable laptops/PCs to 1,272 contributed
Food Bank (groceries and
RM3.4 million registered Welfare Homes,
To build an in-house nursery and
Community Centres and Tuition
facemasks) to 1,036 families ensure every workstation at Top
centres for the Poor
from B20/B40 households in Total number of Glove has a potted plant to create UDR (UPCYCLING,
communities surroundings of our internship placements: greener work environment DOWNCYCLING &
factories RECYCLING) PROJECT
2,107 SUPPORTING FACILITIES
UPGRADING FOR SCHOOLS
An initiative to support 110 blind
70 employees involved An initiative to manage Upcycling,
masseurs with weekly distribution 208 employees involved Contributed close to RM30,000 to Downcycling & Recycling (UDR) of
of food and basic essentials
the following beneficiary schools: factories’ scraps and general waste
for approximately 100 days at volunteer hours
volunteer hours
MEDICAL FACE MASK
176
Brickfields
881 DONATION TO SCHOOLS a. Tabung Pendidikan SMJK
contributed
contributed
Tsung Wah to Upgrade School 14 employees involved
93 employees involved Facilities such as Desks and

Chairs, Whiteboards, and PUBLIC GOTONG ROYONG volunteer hours
RISE AGAINST HUNGER Notice Board for School WITH THE LOCAL 28 contributed
volunteer hours COMMUNITIES
421 contributed
AND YAYASAN FOOD BANK
PROJECTS
Students
b. Persatuan Ibubapa dan Guru
SMK Convent Bukit Nanas to
purchase study tables SPORTS SUPPORT:
c. SJKC Tar Thong Penang
CSR PROGRAM WITH for New Building Fund and SUPPORTING OUR ATHLETES
SHEREEN KHOO maintenance fee for Montfort
Youth Centre
Assisted a senior citizen and a
single mother to two sons, both Donation of 92,000 pieces of
with Autism Spectrum Disorder medical face masks, valued
(ASD) to earn a living by selling at RM27,600 to 78 secondary
handicrafts to Top Glove staff schools around Malaysia for Gotong Royong activities carried
PINTAR Care Programme 2021 out by Top Glove staff together
with the local communities
42 employees involved Packing of hydrated dry ration to
serve communities in need
156 employees involved
volunteer hours
160 contributed 35 employees involved
volunteer hours
321 contributed
Top Glove supports our athletes
in golf, badminton and football
volunteer hours
225 contributed games

GOVERNANCE: STRENGTHENING GOOD CORPORATE GOVERNANCE:

ETHICS, INTEGRITY & GOVERNANCE
GOVERNANCE AND RESPONSIBLE BUSINESS CULTURE All content and data in this page has been verified & assured by external assessor, SIRIM QAS International Sdn Bhd
ACTIVE ENGAGEMENT BETWEEN BOARD COMMITTEES AND THE MANAGEMENT
FY2021 GOVERNANCE HIGHLIGHTS The Board is supported by 5 Board

Committees, namely the Board
Audit Committee (BAC), Board Risk
Committee (BRC), Board Nomination and
Remuneration Committee (BNRC), Board
Sustainability Committee (BSC) and
Adoption of Independent Directors’ Tenure Policy: Quarterly engagements between
Independent Directors Committee (IDC).
Limiting the tenure of Independent Directors independent directors and ESG issues are discussed at all these
to 9 years without any further extension worker representatives Board Committees, particularly the BSC
and BRC.
Board evaluation Diverse gender and skills across The Board Committees, including the
conducted by Board of Directors, with 40% of KPI linked Independent Directors (IDs) actively
engage with the management and
independent
external party 42% of female directors to ESG metrics employees on all ESG issues. Starting
March 2021, IDs have also held quarterly
engagements with worker representatives
to better understand issues faced
and provide support to address these
ETHICS, INTEGRITY & GOVERNANCE concerns raised which include grievance
mechanisms, COVID vaccination,
Management approach: Top Glove demonstrates the highest standards of corporate governance, a accommodation, awareness of workplace
cornerstone of utmost importance in building a foundation of credibility and integrity for our stakeholders. bullying and sexual harassment.
We strive to implement comprehensive risk management, demonstrate good boardroom practices and instil
In addition, our IDs’ hands on involvement Top Glove Independent Directors “zoomed in” on 29 July 2021, to Top Glove’s
a culture which promotes good ethics and conduct, as well as principles of anti-bribery and anti-corruption.
on-site vaccination programme, as part of their 3rd Engagement Session with
which goes beyond governance Workers
requirements includes the following areas:
CORPORATE GOVERNANCE
1 U.S. CBP related advice and updates

Top Glove is guided by robust corporate governance practices in all our formal decisions and policy making exercises.
A vigorous governance mechanism enable our Board of Directors to perform a pivotal role in sound strategic planning and Share Buy Back (SBB) meeting for
2
risk management towards enhancing the sustainability of the Groups’ business operations. a more structured SBB scheme
The details of our corporate governance practices may be found in the Corporate Governance Overview Statement from 3 COVID status and management
pages 140 to 171 in this Integrated Annual Report.
4 Worker accommodation
Our management incentives or remuneration pay are linked to ESG metrics, ensuring management accountability for the compliance with Act 446
achievement of the Company’s goals. In FY2021, the Group has set 40% of the FY2022 Key Performance Indicators (KPIs)
tied to social and environmental pillars, which are aligned with the Company’s material ESG matters. 5 Visiting hostels and engaging
directly with workers on-site
To reflect the Company’s commitment in transitioning into a net zero carbon business, the Group introduced carbon Virtual visit to on-site COVID
6
emission reduction as new KPI for FY2022. vaccination programme
40% of KPI linked to ESG metrics: 7 Engaging with external bodies

to address ESG concerns, such The Board of Directors and senior management of Top Glove had a dialogue
with the Human Rights Commission of Malaysia (SUHAKAM) to discuss how to
as Human Rights Commission of
level up the Company’s human rights practices to be on par with international
Malaysia (SUHAKAM) and various
1 Product Quality and Safety 3 Human Rights and Labour Practices 5 Talent Retention standards
Customer complaint rate Social ethical audit scoring Employee turnover rate climate change subject matter
experts to discuss net zero target
setting
2 Occupational Health & Safety 4 Reduce Carbon Emission
Occupational accident rate Scope 1 & 2 emissions intensity reduction

GOVERNANCE: GOVERNANCE:
ETHICS, INTEGRITY & GOVERNANCE ETHICS, INTEGRITY & GOVERNANCE
RISK MANAGEMENT Identified cyber security issues are assessed based on the methodology CORPORATE INTEGRITY
provided by the Risk Management team, and escalated for onward
Top Glove’s risk management system is action towards solving or improving these issues. Central Integrity Function is a group responding to ISO 37001:2016 Anti Bribery Management System (ABMS) requirement which
set up in accordance with ISO 31000:2018: consists of President of Top Glove Prevention and Anti-Corruption Committee (TGPAC) / Managing Director, Harmonized Integrated
Risk Management Guideline. The Top Glove Our progress in cyber security: Management Representative (HIMR), Anti-Bribery Management Representative (ABMR) and Corporate Integrity. The Group which
encompass of anti-corruption and anti-bribery practices are oversighted by Top Management and Board Audit Committee.
Enterprise Risk Management Framework
provides Top Glove with the capability
In FY2020, we extended and expanded the Anti Bribery Management System (ABMS) scope and implementation to all
to align risk management with corporate
Invested RM1.5 million in FY2021 to enhance our subsidiaries, following the ABMS ISO 37001:2016 certification at Factory 9 in Meru, the first manufacturing facility in
strategies, business directions & sustainability Malaysia to be certified with the ABMS. External and independent audits on the ISO 37001 ethical standards are performed
development. cyber security
annually to ensure validity and continued compliance.
Guided by the Company’s Enterprise Risk In FY2021, 100% of Top Glove Corporation Bhd, covering 28 departments located in Malaysia are assessed for risks related
Management Framework, which is reviewed 100% of our IT infrastructure and information security to corruption. Risk control, due diligence and anti-bribery & anti-corruption control (ABAC) are carried out on these 28
on frequent basis, we strive to maintain a departments to reduce, mitigate and prevent potential risks.
management system are certified with Information
sustainable balance between our risk appetite
and business potential to achieve competitive Security Management System ISO 27001:2013 We require our stakeholders to abide by and affirm their commitment to integrity towards sound and sustainable business
advantage. Please refer to the Statement of practices, in order to demonstrate the highest standards of corporate integrity.
Risk Management & Internal Control from
When making charitable donation or sponsorship, we ensure either 1 or more of the documents below are checked to
pages 172 to 175 in this Integrated Annual Testing on at least a yearly basis to ensure proper prevent the donation or sponsorship are used as a disguised form of bribery:
Report for more disclosure on our risk
incident response procedures are in place
management practices. 1. Registration under Ministry of Women, Family and Community Development (JKM)
2. Inland Revenue Board of Malaysia Section 44(6) Registration
Towards effectively providing insights into 3. Company Registration Form
plans and strategies for sustainable business Over the past 4 financial years, we achieved zero case in 4. Company Profile
growth, we have conducted 2 workshops the following areas: 5. Relevant previous supporting records by Top Glove
on Scenario Planning for the Board &
Management in FY2021. In the workshop, Our stakeholders are required to fulfil the following commitments. Anti-corruption is one of the audit criteria we cover on
scenarios were developed based on global supplier assessment.
trends, impacts to business were identified Information security
Information security
and strategies developed to ensure alignment breaches involving Stakeholders Anti-bribery & anti-corruption & ethics commitment
breaches or other
to impacts and trends. customers’ Employees, suppliers & business • To sign the Letter of Enforcement of Corporate Culture (LECC) on a half
cybersecurity
personally identifiable associates who have financial yearly basis
incidents
information dealings with Top Glove
CYBER SECURITY & DATA PRIVACY
Customers • To sign the Letter of Enforcement of Corporate Culture and Business
Due to the current trend towards digitalisation, Ethics on The Issue of Bribery and Corruption (LECCBC)
access to network, IT systems and data is Number of • To adhere to the Top Glove Customer Code of Conduct
important to maintain competitiveness. Lower complaints related All external parties • To sign the Letter of Enforcement of No Gifts Policy
than agreed upon system performance or to breaches of Employees • To sign the Employee Code of Conduct
customer privacy
service disruptions can result in higher costs Board of Directors • The Board of Directors has adopted the Directors’ Code of Conduct & Ethics
and loss of
and reputational risk for companies. of which the latest revision of the Conduct was made on 9 June 2021
customer data
Information security and cyber security Number of Malaysia staff who have received anti-corruption training in FY2021 (by job grade):
strategy is oversighted by the Board Risk Fines /penalties
Committee. Our Independent Director, Tan Sri paid in relation Management category Number of staff
Customers
Rainer Althoff, who is also a member of the to information
affected by Executive 6
security
Board Risk Committee has vast experience Company’s data
breaches or other Senior 14
in managing Information Technology (IT) breach
cybersecurity
projects, mobile internet, factory automation, Upper 152
incidents
sustainability and digitalisation.
Middle 693
Junior 356

GOVERNANCE: GOVERNANCE:
ETHICS, INTEGRITY & GOVERNANCE ETHICS, INTEGRITY & GOVERNANCE
Anti-corruption and anti-bribery data: WHISTLEBLOWING
Financial Year FY2018 FY2019 FY2020 FY2021 The Company’s whistleblowing procedures and system is oversighted by the Board Audit Committee.
No. of corruption and bribery cases 0 1 0 0 Guided by the Top Glove Whistleblowing Policy and Procedure, we have formal anonymous whistleblowing system with
Political contributions made 0 0 0 0 legal protection in place, in which our whistleblowing channels are managed by an external service provider who serves as
case receiver and available in different platforms (email, online whistleblowing form and mail box). For our whistleblowing
Facilitation payments made 0 0 0 0
data disclosure, please refer to Whistleblowing section in page 112 in this report.
Fines imposed in relation to corruption, bribery &
anti-competitive business practices 0 0 0 0
Whistleblowing Policy and Procedure Top Glove’s anti-corruption and

W.H.I.T.E INTEGRITY CULTURE anti-bribery commitment
Click here or scan the QR code to view Top Glove Click here or scan the QR code to view Top Glove’s
Whistleblowing Policy and Procedure anti-corruption and anti-bribery commitment
In FY2021, we continued our efforts to instill the W.H.I.T.E (5 Healthy Wells, Honesty, Integrity, Transparency and Educate)
Integrity Culture among our workforce and value chain, as part of our commitment to ensure compliance with the Corporate
Liability Provision S17A enforced on 1 June 2020. Our initiatives organised towards this include:
ETHICS & CONDUCTS
a. W.H.I.T.E Integrity Roadshow

a f.
f Integrity briefing slide Upon joining the Company, all employees are required to acknowledge the Employee Code of Conduct and adhere to the
do’s & don’ts in the Conduct.
b. W.H.I.T.E Integrity Day

b g. Training & awareness
g
10 cases of breaching against Code of Conduct were reported in FY2021. These involved cheating on attendance, overtime
claim, alteration of medical certification and abuse of power. These employees were required to explain their actions for the
c. Special training for BOD
c h. Town hall sessions with external stakeholders to
h Company’s further investigation. Appropriate disciplinary action was taken against the perpetrators if proven guilty.
the W.H.I.T.E Integrity Enhancement Program
To further instill the awareness, we have put more focus on training, such as release of 8 Podcasts, multiple times of test
d. Corruption Free Pledge/ Ikrar Bebas Rasuah (IBR)
d
on our corporate values, R.I.V.E.R. (Respect, Integrity, Value, Empowerment and Relationship) and held 15 sessions of
i.
i Wearing a white shirt on every first Wednesday
R.I.V.E.R. trainings.
of the month in support of the W.H.I.T.E Integrity
e. Integrity survey
e
culture
Respect Integrity Value Empowerment Relationship
We earn respect We do the We create We entrust our We foster
by treating right thing and add people with collaboration
everyone with every time. value every appropriate for mutual
respect. day. responsibility. good.
COMMITTED TO ACCELERATING FEEDBACK

SUSTAINABILITY IN OUR BUSINESS
Enquiries, suggestions and feedback on
We are mindful that a sustainable business is a our sustainability report or performance
strategic advantage and strive to improve our are always welcome at
business activities, influence our value chain sustainability@topglove.com.my
and foster relationships as well as collaborations
towards creating long term positive impacts
to our stakeholders and the environment. By Top Glove Sustainability Video
continuing to do well by doing good, we are able
Click here or scan the QR code to
to move the needle on shaping a better planet view Top Glove Sustainability Video
and a more sustainable society.
The Board of Directors and top management demonstrate support of the W.H.I.T.E Integrity Culture by wearing white shirt on every
first Wednesday of the month

STRENGTH OF OUR GOVERNANCE PRACTICES
CORPORATE GOVERNANCE OVERVIEW STATEMENT CORPORATE GOVERNANCE OVERVIEW STATEMENT
CREATING VALUE THROUGH

Significant Governance Achievements of the Company in FY2021:
SUSTAINABLE GOVERNANCE
1 Engaged an independent professional to conduct
Board Evaluation

7 Quarterly engagement between Independent
Directors and workers’ representatives focusing on
the welfare and well-being of workers
Adoption of Independent Directors’ Tenure Policy:
2
Limiting the tenure of Independent Directors to 9 More structured share buy back policy and procedure
The Board plays a vital role in ensuring the stability of 8
years without any further extension to govern the Company’s share buy back activities
This Statement makes
the business, particularly during times of uncertainty, reference to the three (3)
Revised Board policies in line with MCCG 2021 Higher dividend distribution in FY2021 : 20% special
by delivering effective leadership which supports the Broad Principles of the MCCG: 3
best practices
9
dividend in addition to its existing dividend policy of
creation and delivery of strong and sustainable financial a 50% dividend payout ratio, for 2nd Quarter to 4th
4 Linking of Executive Compensation to ESG Metrics Quarter of FY2021
and operational performance for the Group and long- PRINCIPLE A :
term value for our stakeholders. However, at Top Glove,
5
Appointment of Compliance Officer to strengthen the
10 Resolved all 11 International Labour Organization
Board Leadership Corporate Compliance groupwide (ILO) indicators of forced labour
we recognise that it is our people who are our greatest and Effectiveness
6 Increased frequency of meetings amongst Independent Developed Sustainability Roadmap and Strategies
asset; they are key to our continued success and to Directors to discuss among others strategic,
11
Framework
the delivery of our established, consistent, proven and governance and operational issues and active
engagement between Independent Directors and the Developed
12 Enterprise Risk Management
successful strategy. The resilience and commitment of Management Framework in accordance with ISO 31000:2018
our people and their unwavering dedication to keeping
PRINCIPLE B :
our operations running safely and to providing the SUMMARY OF CORPORATE GOVERNANCE PRACTICES
highest quality of service to our customers, despite the Effective Audit and For the financial year ended 31 August 2021 (“FY2021”), Top Glove Corporation Bhd (“Top Glove” or “the Company”) has applied
Risk Management all the Practices and adopted all the steps-up encapsulated in the MCCG. We will continue our efforts to further strengthen our
challenges faced this year are testament to the quality governance practices in ensuring its robustness to continuously safeguard the interests of our stakeholders while driving growth.
of our People.
The details of how the Company has applied, complied with and adopted the MCCG Principles and Practices are outlined in
The importance of good governance regulatory environment and changing our Corporate Governance Report 2021, which is available on our website at https://www.topglove.com/governance-manual/
is never greater than in times of expectations about the role of business
macroeconomic uncertainty. The in society. In particular, the Board seeks
PRINCIPLE C :
Group’s success depends on our to ensure that the Group’s culture is 1
WE ARE GUIDED BY THE FOLLOWING FRAMEWORKS
continual commitment to high aligned with its purpose and values and
Integrity in
corporate governance standards, that the Company has the necessary Malaysian Main Market Listing Corporate Governance
Corporate Reporting Companies Requirements of Bursa
Malaysian Code on
Guide (3rd Edition)
as well as a healthy and responsible financial and human resources to Corporate Governance
and Meaningful Act 2016 Malaysia Securities Berhad issued by Bursa
culture, both in the Boardroom and deliver its strategy successfully. (“MCCG”)
Relationship with (“CA 2016”) (“Bursa Securities Main LR”) Malaysia Berhad
across the Group. We do not view As a Board, we are committed to
Stakeholders
corporate governance as an exercise ensuring that the Company’s purpose,
in compliance but as an evolving and values and high standards are set 2 3
OUR GOVERNANCE PRACTICES EXCEED WE ARE COMPONENT STOCKS OF
core discipline which generates value from the level of chairman and all WHAT IS GENERALLY REQUIRED
for our stakeholders and underpins our Non-Executive Directors, with the
Informs where to find more FTSE Bursa
success. support of the Executive Directors Malaysia-ASEAN Corporate Governance
information online. MSCI Global Malaysia FBM Top
and the executive management team, Report 2020
Standard Index (“FBM”) 100 Index
In the current uncertain economic embedded throughout the Group. We KLCI Index
Scan the QR code for
environment, effective oversight are dedicated to leading by example more information about in the list of top 100
of strategy and risk is particularly to demonstrate Top Glove’s strong Rank
29
Our Corporate Governance
Policies and Disclosures companies for Corporate
important to promote the long-term
success of the Group. In performing
corporate values and culture which
promote the long term sustainable
NO. Governance Disclosure
2020
FBM EMAS
FBM EMAS
Shariah
FBM Hijrah
Shariah
Index
https://www.topglove.com/ Index Index
this role, the Board seeks to be success of the Company for the benefit governance-manual/
responsive to both the evolving of all of our stakeholders.

PRINCIPLE A: BOARD LEADERSHIP AND EFFECTIVENESS
OUR BALANCED AND EXPERIENCED BOARD DELIVERS AND DRIVES OUR STRATEGY CORPORATE GOVERNANCE FRAMEWORK
Board of Directors Board Committees

Stakeholders
Led by the Chairman, the Board takes Presently, the Board is supported by four (4) Board Committees with delegated
primary responsibility in defining the Group’s responsibilities to oversee the Group’s affairs and authorise to act on behalf of the
strategic direction, risk appetite and control Board in accordance with their respective Terms of Reference (“TOR”).
environment aiming to promote long term
Board of Directors Company Secretaries
value of the stakeholders. Each Board Committee will review, report and make recommendations to the Board
during the Board meeting on matters relevant to their roles and responsibilities.
Key responsibilities of the Board are as follows: The Chairman of the respective Board Committee will provide highlights to the
Board and the minutes of the respective Board Committees meeting will also be
tabled at the quarterly Board meetings so as to keep the Board abreast of the
1. Setting the Vision, Mission and Board
Strategic direction for the Company decision and deliberation made by each Board Committee. Board
Board Audit Board Risk Nomination and Independent
and monitor delivery of strategy by the Sustainability
Committee Committee Remuneration Directors
Executive Directors Similar to the Board, each Board Committee is supported by the Company Committee
(“BAC”) (“BRC”) Committee Committee
Secretary and has access to independent advice as required for the performance (“BSC”)
(“BNRC”)
2. Shaping the culture and values of the of its duties.
organisation in ensuring that the Company
adheres to high standard of ethics
EXCO Company Secretaries
3. Formalise governance model and
Internal Audit Risk Management Sustainability
ensure appropriate policies and Executive Committee (“EXCO”) Company Secretaries play an advisory
procedures are in place Department Committee Department
assists the Board Chairman in role to the Board and support the Board
ensuring that the Board’s decision, in ensuring that all governance matters
4. Maintain effective communication
strategies set, business plans, and Board procedures are followed and
with the Stakeholders
budgets, policies, procedures, that applicable laws and regulations are
5. Deliberated on formal schedule daily business and operational complied with.
of matters specifically reserved for issues approved by the Board are Executive
Board decision implemented and/or monitored The Board is regularly updated by the Chairman
efficiently and effectively by the Company Secretaries on changes in
Group’s Management. the relevant statutory and regulatory
The Board Charter duly adopted by the Board requirements, particularly in areas relating
clearly established the functions reserved for the The EXCO will review and to the duties and responsibilities and
Board and those delegated to Management. It is consider the transactions disclosure requirements of the Directors. Executive Committee Managing Director Executive Directors
a reference and induction literature in providing or activities put forth by the
the Board members and Management insight Management, and approve them The Company Secretaries also facilitate
into the functions of the Board. within its delegated authority the communication of key decisions
or recommend them to the and policies between the Board, Senior Management Team
The Board Charter is accessible through the
Company’s website: https://www.topglove. appropriate Board Committee Board Committees and the Group’s
com/governance-manual/ and/or the Board. Management.
ROLES
Senior Independent Non-

Executive Chairman (“EC”) Managing Director (“MD”) Executive Directors (“ED”) Independent Non-Executive Directors (“INED”) Non-Independent Non-Executive Director (“NINED”)
Executive Director (“SINED”)
The EC leads the The MD spearheads the The EDs are responsible for The SINED serves as The INEDs are to deliberate and discuss policies and strategies The NINED functions to provide in-depth knowledge and
Board and manage the business and day-to- the day-to-day operations of a designated contact formulated and proposed by Management with the view of insight from the Group’s perspective.
interface between the day management of the the Group whereby operational between Non-Executive long-term interests of all stakeholders. The INEDS provide
Board and Management. Group in accordance issues and problems are Directors and EC as independent and unbiased view, advice and judgement to The NINED is to ensure that the knowledge and insight
Responsible for the with the strategic plans discussed, major transactions well as shareholders. ensure a balanced and unbiased decision-making process to contributed will lead to a comprehensive, balanced and
orderly conduct and and within the budgets and matters relating to the Group safeguard the long-term interests of all stakeholders and the unbiased decision-making process that serves in the best
effective function of the approved by the Board. are reviewed and operational community. interests of the Group.
Board. strategies are formulated.

BOARD MEETINGS
Board’s Key Areas of Focus during FY2021:
The Board meets at least seven (7) times in each financial The dates of the meetings of the Board, Board Committees Advisors will attend the Board meetings
year to review the formal schedule of matters specifically and AGM for each financial year were fixed in advance for the upon invitation, as and when necessary. Strategy 1. Strategy brainstorming
reserved for its approval. Additional meetings may be whole year to ensure all Directors/Board Committees members’ 2. Strategic plans progress updates
convened as special Board meetings, as and when dates are booked and also to facilitate Management’s planning The Board has adopted a 75% Board 3. Annual budget setting and review
necessary. In the intervals between Board meetings, any for the whole financial year. The Board decisions made at the Meeting Attendance requirement, in 4. Business expansion plans and developments
matters requiring urgent Board’s decisions or approvals will Board meetings shall be by a majority vote as prescribed by line with good governance practices, 5. Business units strategic plan and projects progress updates
be sought via circular resolutions which are supported with the Constitution of the Company. having viewed that technology has
all the relevant information and explanations required for an 6. Revisit the Group’s Vision, Mission and Values
made it more convenient for meeting
informed decision to be made and the same applies to the In FY2021, the Board met ten (10) times. The Company participation. In FY2021, all the 7. SWOT analysis
Board Committees. Secretary is in attendance in every meeting while the Senior Directors complied with the 75% Board Financial 8. Quarterly, half-yearly and yearly financial performance reports
Management, Internal and External Auditors and the Corporate meeting attendance requirement. Performance 9. Share performances on Bursa Securities and Singapore Exchange
10. Capital structure review and balance sheet management
11. Dividend policy and proposal
DIRECTORS’ ATTENDANCE AT BOARD, BOARD COMMITTEES AND GENERAL MEETINGS HELD DURING FY2021
12. Share Buy Back strategy
Risk and 13. Audit Findings
Board General Board Committees
Internal
Meeting Meeting 14. Enterprise Risk Management Framework and report
Controls
Name of Directors Designation (“BOD”) (“GM”) BAC BRC BNRC BSC 15. Material risks and mitigation plans
16. Business Continuity Management Policy and Framework
1. Tan Sri Dr Lim Wee Chai EC 10/10 1/1 - - - -
17. Jurisdictional Regulatory Framework
2. Dato’ Lee Kim Meow MD 10/10 1/1 - 2/3 - - Corporate 18. Board and Board Committees size and composition
Governance
3. Dato’ Lim Han Boon SINED 10/10 1/1 9/9 8/8 5/5 1/1 19. Board appointment, renewal and re-election
and
Compliance 20. Board remuneration package
4. Tan Sri Rainer Althoff INED 10/10 1/1 - 8/8 - -
21. Board and Board Committees performance assessment
5. Lim Hooi Sin ED 10/10 1/1 - - - - 22. Corporate Governance review and updates
6. Lim Cheong Guan ED 10/10 1/1 - 3/3 - - 23. Reappointment of Auditors
24. Board Policies adoption and revision
7. Puan Sri Tong Siew Bee NINED 10/10 1/1 - - - 4/5
25. Board and Senior Management Team succession planning
8. Datuk Noripah Kamso INED 10/10 1/1 7/9 8/8 1/1 5/5
26. Group Organisation Chart
9. Sharmila Sekarajasekaran INED 10/10 1/1 9/9 - 5/5 5/5 27. Approval of Integrated Annual Report and Circular
28. Transfer pricing policy and procedure
10. Datuk Dr. Norma Mansor INED 10/10 1/1 - 8/8 5/5 -
29. Global regulatory compliance
11. Azrina Arshad INED 10/10 1/1 9/9 - 4/4 5/5
30. Employees satisfaction survey
12. Lim Andy INED 10/10 1/1 - - - - 31. Independent Director Tenure Policy
Total no. of Meetings: 10 1 9 8 5 5 32. Alignment of roles between INEDs and EDs
Sustainability 33. Sustainability Initiatives progress update
34. Labour practices and social compliance
FY2021 Board and Board Committees’ Meeting Calendar
35. Materiality Assessment for Sustainability
BAC BNRC BAC BNRC 36. Sustainability Roadmap and Strategies Framework
BOD BOD
BAC BNRC BOD GM BOD BOD
BOD BOD
37. Integration of Sustainability into Business Strategy
38. Remuneration payment linked to ESG metrics
BRC BSC BRC BRC BAC BOD BSC BRC BAC BRC BNRC BAC BSC BOD BSC BNRC BRC BSC BRC BOD BRC
Corporate 39. Proposed dual primary listing in the Stock Exchange of
Proposals Hong Kong Limited
Sept’20 Oct’20 Nov’20 Dec’20 Jan’21 Feb’21 Mar’21 Apr’21 May’21 Jun’21 Jul’21 Aug’21
40. Proposed new business ventures
Others 41. Withhold Release Order imposed by the U.S. Customs and
Total hours for Board and Board Committees’ Meetings FY2021 Border Protection
42. Talent Recruitment
BOD 20 hours 7 minutes BAC 13 hours 56 minutes BRC 19 hours 55 minutes BNRC 7 hours 22 minutes BSC 9 hours 39 minutes 43. Group’s compliance with COVID Movement Control/
Restriction Order.

BOARD STRATEGY AWAY DAY rotation in accordance with Article 94 of the Company’s
Constitution, has notified the Board that she does not wish BOARD GOVERNANCE: EMBEDDING SUSTAINABILITY INTO OUR DNA
The Board sets aside time each year outside the annual to seek for re-election as Director and shall retire as Director
Board calendar to hold a Strategy Day giving the Directors at the conclusion of the 23rd AGM. In recent years we have seen an
COVID Crisis
the opportunity, together with the senior management to increased focus from stakeholders
focus solely on strategic matters. On April 2021, the Board SUPPLY AND ACCESS TO INFORMATION and regulators on ESG and As news of the Company’s workers having tested positive for COVID emerged
held a session to set and monitor progress against the sustainability matters. At Top Glove, in November 2020, the Board requested for an emergency meeting to provide
Group’s strategy and to discuss the strategic challenges The Board and Board Committees receive pertinent sustainability is an important part strategic direction and guidance on managing the health and welfare of our migrant
and opportunities the Group faces in the future, in view of information from the Management on a timely basis to fulfil of our culture and the way we do workers. The Board supported the conduct and progress of the Company’s on
progressing on its journey towards becoming a sustainable their roles. Further, all the Board Committees and Executive business. Our sustainability strategy site vaccination programme, under Program Imunisasi Industri COVID Kerjasama
Fortune Global 500 Company by 2030. Action plans resulting Committee meeting minutes were tabled in Board meetings is aligned to the Company’s strategic Awam-Swata (PIKAS) that commenced on 19 July 2021 for its Meru Klang factories.
from the Strategy Day are implemented and reviewed by the for notations. framework and is fully supported by
EXCO every two months and presented to the Board on a the Board and the Group as a whole.
Through our sustainability strategy, we Engagement with the Work Force
quarterly basis. All Directors are provided with an agenda of the Board
meeting and Board papers which contain among others, aim to deliver long term sustainability We have an experienced, diverse and dedicated workforce which we recognise as a
INDEPENDENCE the Company’s financial performance, business outlook and for our stakeholders, while impacting key asset of our business. At Top Glove, we understand that the employee voice can
various Board Committees’ Reports respectively prior to the positively on society and protecting increase collective learning and that, when employees feel safe to voice concerns
The Board recognizes the significant contributions by the Board meeting. The Board papers are issued in advance the environment. The Board believes and contribute honestly to decision making processes, the natural diversity within
INEDs to the Company in bringing independent and objective and in a timely manner to facilitate informed decision- that a socially and environmentally the Group can be better leveraged, which optimises decision making.
judgment to the Board in decision making. making. The Managing Director and Executive Directors sustainable and responsible business
would lead the presentation of Board papers and provide and an inclusive and collaborative Throughout the year, we continued to invest time and resources in communicating
An annual assessment of independence is carried out by comprehensive explanations of strategy and business plans, culture are critical to creating value with our people and ensuring that the employee voice is heard by the Board.
the BNRC to reaffirm the independence of all INEDs based business performance, potential mergers and acquisitions and to making the Group more During the year, members of the Board visited the male and female hostels in
on the provisions of Bursa Securities Main LR, including a and other pertinent issues. commercially successful in the Meru, Klang and Banting as well as the new Westlite-PKNS hostel in Petaling Jaya
self-declaration of any involvement or relationship which long term, for the benefit of all our to personally assess their living conditions. In doing so, we are able to hear their
could interfere with an independent judgement and ability Any proposals and recommendations by Management stakeholders. Top Glove’s reputation views and gain valuable insights into the matters affecting our people the most.
to act in the best interests of the Company. An independent will be discussed at the EXCO level and then the EXCO’s for high standards of responsible
confirmation based on the independency assessment is also recommendation will be put forth to the relevant Board and sustainable business conduct Top Glove is a global business with operations in multiple locations and our employees
obtained before appointment of INED. Committees for deliberation and endorsement. Thereafter, is something that we are extremely fulfil a broad range of roles with many different perspectives. It is therefore essential
the Chairman of the respective Board Committees will brief proud of and we will continue to that our engagement methods suit the nature of our business and our workforce. We
During FY2021, the Board was satisfied that none of the the Board and seek an approval from the Board. All matters pursue our sustainability ambitions strongly believe that this holistic approach to engagement is the most effective method
INEDs had any relationship that could materially interfere raised, deliberations, decisions and conclusions including to ensure that this reputation is and allows the Board to understand, monitor and assess the culture of the business
with, or be perceived to materially interfere with their dissenting views made at the Board meetings with clear upheld. Further information about the and its alignment with the Company’s purpose, values and strategy. Further information
unfettered and independent judgement and ability to act in actions to be taken by responsible parties are recorded in Company’s approach to sustainability concerning how the Board monitors culture can be found in this report and details of the
the best interests of the Company. the minutes. can be found on pages 88 to 139 and actions taken in respect of workforce engagement can be found on pages 134 and 135.
154 to 155.
During the year under review, the Board has updated the Notices on the closed period for dealing in Top Glove’s
Independent Director Tenure Policy to limit the tenure of securities are served to Directors, key management personnel
its independent directors to nine (9) years without further and principal officers who are deemed to be privy to any BOARD APPOINTMENT AND SUCCESSION PLANNING
extension. In view thereof, our SINED, Dato’ Lim Han Boon, sensitive information for the applicable periods especially
who has served on the Board for more than nine (9) years and the regular annual scheduled Board meetings to approve The selection, nomination and appointment of suitable candidates to the Board follow a transparent process, through the BNRC.
obtained shareholders’ approval to be retained as an INED of the quarterly financial results. This is to comply with Bursa The BNRC is also responsible to review the existing composition of the Board, identifying the gaps and subsequently review and
the Company until the conclusion of the coming Twenty Third Securities Main LR and the Capital Markets and Services recommend to the Board a suitable candidate with the relevant skill sets, expertise and experience. Apart from its own networks in
Annual General Meeting (“23rd AGM”) to be held in January Act 2007 requirements where Directors, key management sourcing suitable candidates for the Board, the Board also takes into consideration the potential candidates from other independent
2022 had decided to retire during the 23rd AGM. personnel and principal officers of the Company and the sources. The Board had during its meeting held in September 2021 resolved not to consider any active politician to be on the Board.
Group are prohibited from dealing in securities based on
On the other hand, Tan Sri Rainer Althoff’s nine (9) years price sensitive information which have not been publicly In reviewing and recommending to the Board of any new Director appointment, the BNRC considers:
tenure with the Company will expire on 14 March 2022. For announced within 30 calendar days before the targeted date
good governance practice, Tan Sri Rainer has expressed his of announcement of the quarterly financial results up to the
intention to retire during the 23rd AGM despite him not yet date of announcement. 1 2 3 4
serve the Board for full nine (9) years term. Age, gender, ethnicity, required mix of skills Expected time Composition Independence,
The Directors are also notified of any corporate announcement and experience, knowledge, expertise, commitments if the requirements for the for the
To further strengthen the Board’s independence, Puan Sri released to Bursa Securities and the impending restrictions professionalism, integrity, capabilities and candidate has multiple Board and Board appointment
Tong Siew Bee, the NINED of the Company who has served on dealing with the securities of the Company prior to the such other factors which would contribute to board representations; Committees; and of an INED.
on the Board for more than 21 years and who retires by announcement. the Board’s collective skills;

Top Glove’s Boardroom appointment process is as follows: The Board’s Induction/ Orientation is a programme co-ordinated BOARD AND SENIOR MANAGEMENT REMUNERATION 1) Tan Sri Dr Lim Wee Chai (Chairman)
by the Company Secretary together with the Executive Director 2) Lim Cheong Guan
and head of business units with the objectives of providing newly The Remuneration Policy and Procedures for Directors 3) Lim Jin Feng
BNRC conducts annual assessment, appointed Directors the necessary information and overview to and Senior Management (“the Remuneration Policy”) was 4) Dato’ Lim Han Boon
1 reviews and identifies gaps/ vacancy
assist them in understanding the operations, corporate strategies, updated by the Board on September 2021 to reflect the 5) Datuk Noripah Kamso
BNRC develops profile and competency current issues and challenges, structure and the management of current component of the remuneration packages and 6) Datuk Dr. Norma Mansor
2 and searches for candidates the Company, as well as on-site briefings or site visits for better current structure of the Board and Senior Management. 7) Sharmila Sekarajasekaran
understanding of the operations aspect of the Company. During a Board meeting held in June 2021, the Board
BNRC identifies and shortlists the had deliberated on the Group’s remuneration pay link to During FY2021, the ESOS and ESGP Committees had
3 “Potential Candidates”
The Board through the BNRC has determined the training needs Environmental, Social and Governance metrics. The Board considered and approved the ESOS and ESGP allocation
of the Directors based on outcome derived from the annual Board decided that the performance evaluations of the Board and factors to the eligible employees of the Group.
BNRC conducts due diligence on the
4 “Potential Candidates” performance and effectiveness evaluation. The Company Secretary Senior Management include a review of their performance in
constantly sourced for suitable development programme for the addressing the company’s material sustainability risks and Whereas, the Non-Executive Directors are entitled to receive
5 BNRC interviews the shortlisted candidates respective Directors in accordance to the training need analysis. The opportunities. meeting allowances for the Board and Board Committees
Directors may raise any training needs with the Chairman who helps meetings they have attended but are not entitled to
BNRC nominates and makes to ensure that the training programme meets the needs of the Board, The Remuneration Policy comprised remuneration guiding participate in the ESOS and ESGP save for the NINED.
6 recommendation to the Board
Directors and the business. Directors may also request training on principles, remuneration framework, remuneration elements
specific issues with some attending external courses which are as well as remuneration policies and procedures. The The details of the Directors’ remuneration comprising remuneration
7 Board approves the appointment of Director received/ receivable from the Company and subsidiaries respectively
specific to their area of expertise, such as remuneration or audit. remuneration of Executive Chairman, Executives Directors in FY2021 can be found in our CG Report which can be accessed via
https://www.topglove.com/governance-manual/
and Key Senior Management is determined based on,
Ongoing training in both business-related and regulatory amongst others, their scope of duties, responsibilities, skills
The Board, with assistance from the BNRC, is responsible
matters is provided to the Board during the year. This helps to and experience, corporate and individual performances and ETHICS AND INTEGRITY
for succession planning for the Directors and Key Senior
ensure that the Board keeps up to date with evolving regulatory achievement of annual key performance indicators as well
Management (“Key Business Leaders”), guided by the
and legal matters. From time to time, meetings with specialists as prevailing market practice and economic situation. The The Board has adopted the Directors’ Code of Conduct
Succession Planning Policy adopted by the Board.
in the business are arranged for Directors who may wish to gain remuneration of the INEDs and NINED is determined based and Ethics for Directors to reflect the underlying values and
The succession planning is to ensure the stability and
a deeper insight into a particular topic. on experience and level of responsibilities undertaken, commitment to lay standards of trust, integrity, responsibility,
accountability of the Group by preparing for an eventual
extent of contributions, effort and time spent, number of excellence, commitment, dedication, diligence, ethics
permanent change in leadership, either planned or
Summary of Training attended by all Board members in FY2021 committees served as well as prevailing market practice and and professionalism contributing towards the social and
unplanned, so as to ensure continuous support in
economic situation. environmental growth of the surroundings in which Top
operation and service when the above Key Business
Number of Glove Group operates.
Leaders leave their positions. The Remuneration Policy is accessible through the Company’s
Training Categories Trainings Attended website: https://www.topglove.com/governance-manual/
The Succession Planning Policy is accessible through the Embracing ethical culture in an organisation is fundamental
Company’s website: https://www.topglove.com/governance- Corporate Governance 8
manual/ in preservation of the Company’s reputation and thereby
Financial and Capital Market 10 The Company rewards its employees and the Executive increases the confidence of stakeholders. The Company
Human Resource 3 Directors with options under the Employees’ Share Option has committed to uphold the practice of Integrity in the
DIRECTORS’ RE-ELECTION
Scheme (“ESOS”) and shares under the Employees’ Share organisation and has adequate policies and procedures in
IT 13
Grant Plan (“ESGP”). The Executive Directors are not entitled place driven by the Integrity Department.
The BNRC and Board ensured that the annual re-election
Leadership & Business Management 22 to receive meeting allowances for the Board and Board
of Directors was contingent on satisfactory evaluation of
Legal 2 Committees meetings they have attended. The details of the The Directors’ Code of Conduct and Ethics is available on the Company’s
Directors’ performance and contribution to the Board. website at https://www.topglove.com/governance-manual/
vesting of options under the ESOS and awards of shares
Risk Management 6
The details of the Directors standing for re-election and the under the ESGP are set out on page 181 of this Integrated
justification can be found on page 314 of the Notice of AGM. Sustainability 16 Annual Report under the Directors’ Report of the Audited BOARD EFFECTIVENESS EVALUATION
Total 80 Financial Statements for FY2021.
The Board recognised that a structured and regular
DIRECTORS’ PROFESSIONAL DEVELOPMENT
The ESOS and ESGP committees as below comprised evaluation of Board is an important pillar of good corporate
During FY2021, all the Board members attended various training
programmes; the list of training attended by each Director can be found majority INEDs continued to oversee the administration as governance. The evaluation of the Board members and
The Board has a training policy for Directors with the on page 13 to 17 of the Corporate Governance Report.
well as to ensure proper implementation of ESOS and ESGP the Board Committees are conducted on an annual basis.
aim to ensure all the Directors have access to learning,
The Training Policy for Directors is accessible through the Company’s according to the respective By-Laws: KPMG Management & Risk Consulting Sdn Bhd (“KPMG”)
development and training opportunities to better equip website: https://www.topglove.com/governance-manual/
has been appointed by the Company to facilitate the Board
themselves with the skills and knowledge required to
Effectiveness Evaluation (“BEE”) for FY2021.
fulfill their fiduciary duties and carry out their roles and
responsibilities.

BEE PROCESS ASSESSMENT CRITERIA Some of the key strengths as well as recommended areas for improvement LOOKING AHEAD
arising from the BEE for FY2021 are as follows:
The BEE for FY2021 was conducted The BEE assessment criteria covered the following key areas: Global market condition is expected to
through the deployment of KPMG Key strengths remain challenging in the coming year, we
Digital BEE tool and interview sessions will continue to enhance our sustainability
Scope of
to review the effectiveness of the Assessment Assessment Criteria Boardroom commitment and proactivity, diversity, financial stewardship practices, maintain robust governance
Board as a whole, the contribution of as well as efficacy of the BAC were highlighted as areas of strength.
Questionnaire assessment framework and embrace ethical corporate
each individual Director and peers, The results of the FY2021 BEE indicated that Top Glove’s Directors culture in sustaining our growth in the face
independence of the INEDs and Board 1. Board 1. Board Mix & Composition 3. Boardroom Activities demonstrated an active leadership style and displayed commendable
Committees’ performance. Performance 2. Quality of Information 4. Board Chairman’s of business uncertainty.
proactivity to learn, teach and share amongst each other. The Executive
Assessment and Decision-Making Role
Chairman is highly regarded for his hands-on approach and being highly
The BEE methodology conducted by Some of the priorities for FY2022 in
2. Board Skills 1. Envisaged Board Skills Matrix invested in the affairs of the Company. This is further buttressed with
KPMG in FY2021 are as follows: Matrix 2. Current Board Skills Matrix addition to its regular activities are as
the strong recognition of diversity at the Board level which has brought
about the sharing of varied views, experiences and cognitive variety follows:
3. Board Self 1. Contribution and Performance 3. Managing Director
Design and Peer 2. Calibre and Personality 4. Senior Independent during boardroom deliberations. In addition, the Board’s vigilance
Performance Director over the Company’s financial affairs was acclaimed given the strong
1. Understanding Top Glove and Assessment drive for efficiency and optimisation. The findings of the BEE results Oversee strategy
1
review relevant documents and also revealed that the BAC was perched as the joint best performing implementation in maximizing
4. Directors’ 1. Director’s Background 4. Tenure
long term value
governing policies Independency 2. Economic relationship 5. Qualitative committee and this should be considered against the backdrop that
2. Design customised Assessment 3. Family relationships assessment the BAC is reposed with the most wide-ranging responsibilities. It was
questionnaires and interview 5. Board 1. Composition and governance 3. Committees’ highlighted that the BAC is able to maintain a hawk-eye watch on its Continue to structure a
questions Committees 2. Meeting administration and oversight duties and core mandates including exercising oversight on internal controls and 2
high-performing Board by
Assessment conduct responsibilities upholding the sanctity of the external audit process. reviewing and improving
Board performance as well
Assess Additional assessment for Board Audit Committee: as strengthening Board
practices and processes in
1. Group Synergy and Reporting 3. Oversight on the Areas for improvement
1. Circulate questionnaires for Line Internal Audit meeting ongoing and emerging
Board, Board Committees and 2. Oversight of financial reporting Function challenges
Based on the premise of continuous improvement, certain markers for
Individual Directors’ assessment process, including internal 4. Oversight on the
controls and audit processes External Auditor
enhancement were noted. To clarify further, the co-creation process
2. Conduct one-to-one interviews in strategy between the Board and EXCO/Senior Management can Prioritise in integrating
with all Board members and Key One-to-one interviews session be reinforced. Communication between the Board and Management 3 Sustainability in the business
Senior Management can also be made more dynamic in relation to high-impact matters. In operations
With Board 1. Views on Chairman and the Board 4. Board dynamics
3. Consolidate and assess the addition, the outworking of the BNRC can be further strengthened with
members 2. Strategy and Risk Management and composition
responses from questionnaires and Group Governance 5. General, critical- regards to organisational development and training needs for Directors.
and insights gleaned from the 3. Boardroom administration and mission issues and As an added heft, the Board configuration can be buttressed with Enhance oversight function
4
interview sessions information flow news on the labour issue and
consideration on skill set such as digital, sustainability and industrial
monitor implementation by the
With Board 1. As Chairman of the Board 4. Board dynamics expertise. Boardroom administration and information flow can be
Chairman 2. Strategy and Risk Management and composition Management to be re-included
fortified through greater involvement of Board members in agenda
and Group Governance 5. General, critical- in FTSE4Good Bursa Malaysia
Recommend setting, enhanced coverage on Environmental, Social and Governance
3. Boardroom administration and mission issues (F4GBM) Index
and digital matters in Board papers, explicit connectivity between
information flow and news
1. Prepare final BEE report detailing proposals presented in Board papers and strategic plan as well as
qualitative and quantitative With Key Senior 1. Views on the Board 3. General questions, reinforced evaluation of the Company Secretary by the Board. Accelerating digital
analyses of assessment and Management 2. Boardroom administration and critical issues 5
transformation in promoting
information flow
improvement considerations operational resiliency
2. Prepare individual Directors’ The action plans arising from the findings above had been developed and
reports outlining the strength and tabled to the BNRC for recommendation and subsequently elevated to the
improvement considerations STRENGTHS IDENTIFIED AND IMPROVEMENT REQUIRED Enhance the human capital
Board for approval. The Company Secretary is accountable for following 6
3. Conduct a separate briefing management, being the key
through on the recommendations. driver of organisation’s long
session with the Board Chairman Based on the assessment in FY2021, the overall results were generally positive.
term value
and BNRC Chairman to deep Board is satisfied with the overall performance of individual Director, effectiveness
of the Board and Board Committees and independency of Independent Directors. The BEE Framework had also been revised in FY2021 to reflect the Board’s
dive into the findings and
identified action plans commitment to engage independent experts once every three years to
Addressing the changing
4. Present findings and The Board agreed that its composition is well structured and represented, with facilitate objective and candid board evaluations. 7
stakeholders’ expectations in
recommendation to the BNRC an appropriate mix of skills, expertise and experience, contributing to the overall navigating ongoing global crisis
and the Board effectiveness of the decision-making process for the Company and the Group. The revised BEE framework is available on the Company’s website at https://www.
topglove.com/governance-manual/

Key Areas of Focus during FY2021: Looking Ahead

BOARD NOMINATION AND REMUNERATION COMMITTEE REPORT
Board and 1. Reviewed the size and composition of the Board Some of the priorities for FY2022 in
The Board Nomination and Remuneration Committee (“BNRC”) of Top Glove is pleased to present the BNRC Report for Board 2. Reviewed the Board Committees’ composition addition to its regular activities are as
the FY2021. Committees’ 3. Reviewed and recommended the merging of Board follows:
composition Investment Committee and Board Risk Committee
Composition and 4. Reviewed the succession plan for the Board,
Succession
Board Committee, Managing Director and Senior Continue to reveal gaps in
Planning 1
The BNRC comprises four (4) members as follows, all of whom are Independent Non-Executive Directors: Independent Non-Executive Director Board composition and the
solutions to fill the gaps
Board 5. Reviewed the background, skills and experience
Date of Appointment Tenure on the BNRC Appointment/ of potential candidates to be appointed as the
Re- Independent Non-Executive Director of the Company Continue to develop
Members as BNRC Member as at 31 August 2021 2
Appointment 6. Evaluated the contribution of Directors seeking appropriate training solution
1. Datuk Dr. Norma Mansor (Chairman) 12 May 2017 4 Years 3 Months re-election and recommend to the Board on their for the Directors to ensure
suitability they have the competencies
2. Dato’ Lim Han Boon 21 February 2011 10 Years 6 Months 7. Reviewed the Directors’ service tenure in carry out their duties
8. Reviewed the appointment of senior management
3. Sharmila Sekarajasekaran 18 March 2015 6 Years 5 Months position and recommended the need of having
Formulate talent pool
several Senior Management position 3
of Director by building
4. Azrina Arshad 1 December 2020 8 Months a database of potential
Framework, 9. Reviewed and recommended the amendments
Policy & made in the manual, policies and terms of reference candidates collated from
Note : Datuk Noripah Kamso had stepped down as BNRC member effective 1 December 2020 subsequent to the Board Committees composition restructuring exercise. Guidelines adopted by the Board to be in line with both the Main various independent sources
Market Listing Requirements and Hong Kong listing
Meetings and Attendance requirements as well as the MCCG Review the compensation
4
10. Reviewed and recommended the amendments made package of Directors and
In FY2021, the BNRC had met five (5) times. The Company Secretary is in attendance in every meeting while the Executive in Independent Director Tenure Policy to limit the Senior Management align
Director, Senior Management and other Board members will attend the BNRC meetings upon invitation, as and when INEDs’ tenure to nine (9) years, in line with the step with prevalent market
necessary. up practice of MCCG practices to ensure that
it remains competitive to
Refer to page 144 and 145 for the attendance record of BNRC members. Board and 11. Reviewed fees and benefit payable to Directors,
attract and retain talent
Senior benchmarked with industry practice
Management 12. Reviewed remuneration package of Executive
Roles and Responsibilities Remuneration Directors, Non-Executive Directors, Key Senior Remain focus on succession
5
Management and related employees planning of the Directors and
BNRC were entrusted by the Board to assist in nomination for the Board and Board Committees as well as assessing their Key Senior Management
performance and remuneration package. Board 13. Reviewed the Board Effectiveness Evaluation
Effectiveness questionnaires
Evaluation 14. Reviewed outcome of the annual Board’s and 6 Monitor follow up actions
Key responsibilities of BNRC are as follows: subsequent to the BEE
Board Committees’ performance assessments,
independency of INEDs, contribution and findings
performance of each individual director
Nomination Remuneration
15. Reviewed Board skills matrix and level of
competency to meet the current and future needs of
1. Review Board and Board Committees’ composition 1. Formulate formal and transparent remuneration BNRC Effectiveness Review and
the organisation
and competencies process for Board and Key Senior Management Performance
2. Nominate candidates for Board and Board Committees 2. Periodic review on Board remuneration framework Others 16. Reviewed outcome of annual Employee’s Engagement
3. Assess the performance and effectiveness of the Board, to ensure that the remuneration structured to link and Job Satisfaction Survey During the year under review, the
Individual Board members and Board Committees rewards to corporate and individual performance 17. Reviewed the Group’s organisation chart Board assessed the performance of
4. Review Board and Senior Management Succession Plan 18. Deliberated on medical insurance coverage for the BNRC through the annual Board
5. Oversee Directors’ training and development Directors Effectiveness Evaluation. The Board is
needs and its effectiveness 19. Reviewed consultant service agreement prior to satisfied that the BNRC has effectively
engagement
discharged its functions, duties and
responsibilities in accordance with the
The TOR of the BNRC is available for reference on the Company’s website at https://www.topglove.com/governance-manual/ BNRC TOR.


The Board Sustainability CommitteeBOARD
(“BSC”)SUSTAINABILITY
of Top Glove is pleased to present
COMMITTEE the BSC Report for FY2021.
REPORT
The Board Sustainability Committee (“BSC”) of Top Glove is pleased to present the BSC Report for FY2021. Framework, 1. Reviewed adoption of BSC will continue its role in supporting the Board and
Policy & Sustainability Charter overseeing the development, implementation, measurement
The Board recognised the importance of adopting a sound business model which incorporating environmental, social and Guidelines 2. Reviewed and deliberated on and reporting of the Group’s ESG performance. In addition,
governance (“ESG”) considerations. BSC has been formed since March 2019 to provide advice and assistance to the Board Bursa Malaysia Sustainability BSC will strengthen its role and place a stronger emphasis
in integrating long term thinking into day-to-day business decisions and to steer ESG strategy into a competitive advantage Disclosure Review 2020 on overseeing the impact of the Group’s long-term strategy
for the business to create long term values to our stakeholders. The Board is committed to contribute the UN Sustainable on emerging sustainability issues. This will ultimately support
Sustainability 3. Discussed the long term and
Development Goals (UN SDGs) via implementation of ESG strategies and initiatives. the Group’s objective to operate on a sustainable basis for
Plan short term sustainability target
and sustainability goals covering the benefit of current and future generations.
Sustainability encompasses how Top Glove conducts its businesses, now and in the future, including the pursuit of
ESG pillars
ensuring employees’ workplace health and safety, respecting to human rights, a commitment to the community and social
4. Reviewed Sustainability Plan for Some of the priorities for FY2022 in addition to its regular
responsibility, minimising the Company’s impact on the environment, complying with highest standards of corporate FY2021 activities are as follows:
governance and maintaining Top Glove’s reputation as one of Malaysia’s leading companies. 5. Reviewed and developed ESG
roadmap and milestones
Composition & Structure 6. Reviewed the Year of ESG
initiatives & progress 1 Prioritisation in identified material matters
The governance of sustainability is integrated in our corporate governance structures throughout the Group, from board-
level committees to management-level group functions and business units. In supporting the BSC, the Sustainability Sustainability 7. Reviewed and deliberated on
Steering Group and the Social Sustainability Committee have the strategic and operational responsibility to assess and Oversight Materiality Assessment 2 Monitor ESG progress and strategies
manage sustainability issues. 8. Reviewed report from the
Sustainability Steering
Committee on the sustainability Monitor ESG compliance with international
The BSC comprises four (4) members as follows, all of whom are Non-Executive Directors: 3
initiatives undertaken by the best practices
Group covering ESG pillars
Date of Appointment Tenure on the BSC
Members as BSC Member as at 31 August 2021 Annual 9. Reviewed the Sustainability Proactive stakeholders engagement on
4
Reporting Statement for inclusion in the continuous basis to effectively manage material
1. Sharmila Sekarajasekaran (Chairman) 22 March 2019 2 Years 5 Months Integrated Annual Report sustainability matters
2. Puan Sri Tong Siew Bee 22 March 2019 2 Years 5 Months 10.
Reviewed ESG reporting
guide under Hong Kong listing
3. Datuk Noripah Kamso 22 March 2019 2 Years 5 Months requirement Enhance sustainability awareness to cover
5
4. Azrina Arshad 22 March 2019 2 Years 5 Months wider value chain
Others 11. Reviewed collaboration
opportunity with third party
Note : D
ato’ Lim Han Boon had stepped down as BSC member effective 1 December 2020 subsequent to the Board Committees composition restructuring exercise. in enhancing the Group’s Ongoing enhancement of sustainability
sustainability practices 6
reporting and to get third party verification /
Meetings and Attendance Roles and Responsibilities 12. Reviewed UN Sustainable
audit on ESG disclosure
Development Goals (UN SDG)
In FY2021, the BSC had met five BSC play a role as champions of sustainability within the Company in driving the mapping with the Company’s
(5) times. The Company Secretary Group’s sustainability strategy and initiatives and overseeing the implementation sustainability initiatives 7 Establish ESG related risk assessment
is in attendance in every meeting of the Sustainability Charter adopted by the Board, guided by the TOR of BSC. 13. Reviewed ESG gap analysis
while the Executive Director, between the Company’s
sustainability practices and Improvement in sustainability rating and
Senior Management, Manager of Key responsibilities of BSC are as follows: 8
international ESG best practices ranking
Sustainability Department and other
Board members will attend the BSC with the aim to improve the
Review periodic
meetings upon invitation, as and Review Review Company’s ESG ranking
reports from
when necessary. sustainability adoption, Monitor the 14. Reviewed the industrial rating
Sustainability
strategy, blueprint compliance and Sustainability of the Group’s sustainability BSC Effectiveness Review and Performance
Steering
and roadmaps effectiveness Key performance and discussed the
The minutes of each BSC meeting Group and
and oversee of all Performance areas for improvement
was duly noted by the Board via Sustainability During the year under review, the Board assessed the
implementation of sustainability- Indicators of 15. Deliberated on the ESG
distribution to each Board member Statement/ performance of the BSC through the annual Board
strategy plans by related policies/ the Group
Report before campaign to educate and
and the Chairman of the BSC the Management standards Effectiveness Evaluation. The Board is satisfied that the
publishing raise awareness amongst the
highlights on key issues discussed BSC has effectively discharged its functions, duties and
stakeholders
during the BSC meeting. responsibilities in accordance with the BSC TOR.
16. Reviewed the Group’s remuneration
The Sustainability Charter and TOR of the BSC is available for reference on the Company’s
Refer to page 144 and 145 for the website at https://www.topglove.com/governance-manual/
pay link to ESG metrics
attendance record of BSC members.

Roles and Responsibilities

INDEPENDENT DIRECTOR COMMITTEE REPORT
Key responsibilities of IDC are as follows:

The Independent Director Committee (“IDC”) of Top Glove is pleased to present the IDC Report for FY2021.
IDC was established to provide an avenue for all Independent Directors to have a session amongst themselves to deliberate
matters in relation to the Company’s business strategy and operations without the presence of Executive Directors with Assess the quality Deliberate on the Deliberate other issues that
Discharge their
the objective to enhance Shareholders’ value by providing independent view and recommendation to the Board and and timeliness effectiveness and may involve the Management
fiduciary duties
Management. of information efficiency of the or the Executive Directors
in protecting the
flow between the Company’s business and which is likely to have
interest of the
Composition Management and strategy and an impact on the reputation
minority shareholders
the Board operations of the Company
The IDC members comprises all the seven (7) Independent Non-Executive Directors of the Company as follows, led by the
Senior Independent Non-Executive Director:
Key Areas of Focus during FY2021:

Members Meeting attendance
The IDC had met periodically with/without the presence of Executive Directors and/or the Management during FY2021.
1. Dato’ Lim Han Boon (Chairman) 5/5 (100%) Concerns raised at the IDC meeting and recommendations of the IDC were put forth to the Board for deliberation and
endorsement.
2. Tan Sri Rainer Althoff 5/5 (100%)
In FY2021, IDC met five (5) times to deliberate among others, the following matters:
3. Datuk Noripah Kamso 5/5 (100%)
1 Sustainability roadmap including ESG compliance

4. Datuk Dr. Norma Mansor 5/5 (100%)
2 Digital transformation roadmap

5. Sharmila Sekarajasekaran 5/5 (100%)
3 Organisation strategic direction, roadmap and blueprint
6. Azrina Arshad 5/5 (100%)
4 Labour issues and social compliance
7. Lim Andy 5/5 (100%)

5 Whistleblower treatment
6 Share buy back strategies

Meetings and Attendance
7 Dividend policy
In FY2021, the IDC met five (5) times without the presence of Executive Directors and/or the Management except that when
Executive Directors and/or the Management’s presence is required to response to questions from the IDC. The Company
8 Shareholder activism and Board Governance
Secretary is in attendance in every IDC meeting.
9 Strategic/Crisis communication and management
Total hours for IDC meeting FY2021:

10 Proposed listing in the Hong Kong Stock Exchange
11 hours 4 minutes 11 Succession planning for Board and Key Management Personnel
In addition, the IDC actively engage with the Management on all sustainability matters, with special focus on social compliance,
covering amongst others, employees’ safety, grievance mechanism and compliance with labor/human rights. IDC visited the
workers hostels and initiate quarterly engagement sessions with the Company’s migrant workers with the presence of the
Management to ensure that proper actions were carried out by the Management to safeguard the wellbeing of the workers
particularly in curbing the COVID cases within the organisation.

PRINCIPLE B: EFFECTIVE AUDIT AND RISK MANAGEMENT The Board has not identified, nor been advised of, any failures or weaknesses which it has determined to be significant.
Therefore, a confirmation of necessary actions has not been considered appropriate.
BOARD AUDIT COMMITTEE REPORT
Key responsibilities of BAC are as follows:
The Board Audit Committee (“BAC”) of Top Glove is pleased to present the BAC Report for FY2021.
Effective oversight of the Financial Review the effectiveness Review the Corporate
Composition & Structure
Reporting process of the Group to of Internal and External Governance compliance and
ensure compliance with the applicable Audit Functions and Internal practices across the organisation
The BAC comprises four (4) members as follows, all of whom are Independent Non-Executive Directors, which is in line with financial reporting standard Control System to ensure its robustness
the Bursa Malaysia Securities Berhad (“Bursa Securities”) Main Market Listing Requirements (“Main LR”) and the Malaysian
Code on Corporate Governance:
The TOR of the BAC and Internal Audit Charter are available for reference on the Company’s website at https://www.topglove.com/governance-manual/
Date of Appointment Tenure on the BAC
Members as BAC Member as at 31 August 2021 Key Areas of Focus during FY2021:
1. Dato’ Lim Han Boon (Chairman) 21 February 2011 10 Years 6 Months
Financial 1. Reviewed all the four (4) Quarter’s Financial Statements and the annual Audited Financial
2. Datuk Noripah Kamso 18 March 2015 6 Years 5 Months
Reporting Statements of the Company and recommended the Financial Statements for the Board’s approval.
3. Sharmila Sekarajasekaran 15 October 2015 5 Years 10 Months Discussions focused particularly on any change in the accounting policies and its implementation;
significant and unusual events arising from the audit; the going concern assumption; compliance
4. Azrina Arshad 8 January 2019 2 Years 7 Months
with accounting standards and other legal requirements; significant matters highlighted in the
financial statements; and significant judgements made by Management.
Meetings and Attendance 2. Reported its findings on the financial and Management’s performance and other material
matters to the Board.
3. Deliberated the emerging financial reporting issues pursuant to the introduction of new
In FY2021, the BAC had met nine (9) times, two (2) of which were meetings with the External Auditors, without the Executive
accounting standards and additional statutory/regulatory disclosure requirements.
Directors’ and Management’s presence and one (1) of which was a meeting with the Head of Internal Audit, without the
Executive Directors’ and Management’s presence. Internal Audit 4. Reviewed the Internal Audit Plan proposed by the Head of Internal Audit to ensure the adequacy
of the scope, and that it has the necessary authority to carry out its works.
The Company Secretary is in attendance in every meeting while the Executive Director, Head of Internal Audit, Senior 5. Reviewed salient audit issues together with recommendations from the Internal Audit. BAC
Management, External Auditors and other Board members will attend the BAC meetings upon invitation, as and when considered the highlighted issues, taking into account Management’s responses, upon which
necessary. During FY2021, the BAC had constantly engaged with the External Auditors and the Head of Internal Audit to approved the internal auditors’ proposal for rectification and implementation of the agreed
keep abreast with the key audit issues and audit concerns affecting the Company. remedial actions for improvement.
6. Reviewed the adequacy and competency of the Internal Audit resources required to carry out
The minutes of each BAC meeting was duly noted by the Board via distribution to each Board member and the Chairman Internal Audit engagement works.
of the BAC highlights on key issues discussed during the BAC meeting. 7. Undertook the performance assessment of the Internal Audit Function, reviewed the
effectiveness of its audit processes and assessed the performance of the overall Internal Audit
Department (“IAD”).
Refer to pages 144 and 145 for the attendance record of BAC members.
8. Held separate meeting with the Head of Internal Audit to discuss the results of the assessment
and other areas of concern, without the presence of the Executive Directors and Management.
Roles and Responsibilities
External Audit 9. Discussed with the External Auditors, before the audit commences, the audit plan, nature and
BAC had been entrusted by the Board to execute its governance and oversight responsibilities in ensuring transparent scope of the audit, emphasised areas of audit and ensured co-ordination where more than one
financial reporting within the Group, guided by the BAC’s TOR. BAC are assisted by in-house Internal Audit Department in (1) audit firms are involved as well as the External Auditors’ evaluation of the system of internal
the effective discharge of their responsibilities in establishing cost-effective controls, adhering to the Internal Audit Charter controls and audit reports.
adopted by the BAC. 10. Discussed and deliberated the External Auditors’ reports and recommendations regarding
opportunities for improvement of the significant risk areas, internal controls and financial
BAC deliberates the Summary of Internal Audit Reports and the external auditors’ reports relating to financial, operational, matters areas based on observations made in the course of interim and final audits.
governance, risk management and control matters every quarter during BAC meeting. The status of preventive and 11. Held two (2) private meetings with the External Auditors without the presence of the Executive
Directors and Management to discuss the areas of audit concern.
corrective actions for issues discussed are updated to the BAC to ensure that the actions are being monitored.
12. Discussed the results of the annual assessment on the suitability and the independence of the
External Auditors pursuant to the Company’s External Auditors’ Assessment Policy.
The system of internal control therefore provides only reasonable, not absolute, assurance against material misstatement
13. Reviewed the performance of the External Auditors and recommended its re-appointment and
or loss. The system of internal control does, however, provide reasonable assurance that potential issues can be identified remuneration to the Board.
promptly and appropriate remedial action taken.

Professional Development programmes Looking Ahead

Related Party 14. Reviewed and recommended on a quarterly basis, the related party transactions presented by
Transactions Management to the Board for approval, to ensure that these transactions are undertaken in the During FY2021, all the BAC members have attended BAC will continue its role in supporting the Board in its governance
Company’s best interests and not detrimental to the minority shareholders’ interests and are various seminars, professional development and oversight responsibilities in ensuring the effectiveness of the
done under fair and reasonable grounds and normal commercial terms. programmes and conferences. The list of financial reporting, Internal and External Audit Function.
15. Monitored the thresholds of the related party transactions and recurrent related party programmes attended is disclosed in the Corporate
Governance Report on page 13 to 17 which is Some of the priorities for FY2022 in addition to its regular
transactions to ensure compliance with Bursa Securities Main LR.
available for reference on the Company’s website at activities are as follows:
https://www.topglove.com/governance-manual/
Annual 16. Reviewed the Integrated Annual Report, covering the Value Creation Report, BAC Report,
Reporting Statement on Risk Management and Internal Control and Corporate Governance Overview Internal Audit Function Strengthen BAC’s skills and knowledge to
1
Statement and Report to ensure adherence to legal and regulatory reporting requirements and effectively discharge their responsibility
appropriate resolution of all accounting matters requiring significant judgement, followed by The Internal Audit Department (“IAD”) comprises ten (10)
recommendation for the Board’s approval. members, led by Mr. Lim Lung Fui @ Jack, a member Enhance forecasting and disclosure on potential
2
of the Malaysian Institute of Accountants who has over COVID impacts to the organisation
twenty (20) years of experience in operational and financial
Others 17. Reviewed the Group’s cash flow budget. audit. IAD reports directly to the BAC and is guided by its
18. Reviewed Business Units Performance and capital expenditures. Monitor the compliance of Section 17A of Malaysian
Internal Audit Charter and Terms of Reference. 3
19. Reviewed the Share Buy Back policy and procedures and recommended for Board’s adoption. Anti-Corruption Commission Amendment Act
20. Verified the share buy-back activities of the Company. 2018 and Adequate Procedures implementation
The principal objective of the IAD is to undertake
21. Verified and ensure the allocation of Employees’ Share Option Scheme (“ESOS”) and Employees regular reviews of the systems of controls, procedures
Share Grant Plan (“ESGP”) complied with the criteria as stipulated in the By-Laws of ESOS and and operations so as to provide reasonable assurance Monitor the corporate governance compliance
4
ESGP of the Company respectively. that the internal control system is sound, adequate and and practices to align with MCCG 2021 and
satisfactory. The function of the IAD is to provide the policies and procedures adopted by the Board
22. Verified the share issuance arising from conversion of Convertible Bond.
23. Reviewed the Whistleblowing Policy and Procedures and cases of the Group. BAC with independent and objective reports on the
state of internal controls of the operating units within the Review adequacy and competencies of audit
24. Deliberated on Transfer Pricing policy and procedures. 5
Group and the extent of compliance by such units with resources coupled with deploying technology in
25. Reviewed and deliberated the corporate governance compliance of the Company and areas
the Group’s established policies and procedures and audit process in ensuring effectiveness of Internal
for improvement.
the regulatory requirements of the relevant authorities. Audit function
26. Reviewed Social Audit Compliance of the Group and the implementation of mitigation plans. The BAC reviews and approves the Internal Audit plan
27. Reviewed revision made to the BAC’s Terms of Reference, Related Party Transaction Policy, of the Group submitted by the Head of Internal Audit.
Donation policy and External Auditors Assessment Policy and recommended the revised Review initiatives by IT on cybersecurity and IT
6
system to strengthen control process
version for the Board’s approval. During FY2021, the areas audited included audits of the
28. Reviewed Securities Dealing Policy and Policy on Prevention of Insider Dealing and Market various departments covering factories and subsidiaries
Misconduct and recommended for Board’s adoption. within the Group. Summary of Internal Audit reports were Address short term and long term liquidity and
7
29. Reviewed Management updates on Withhold Release Order imposed by the U.S. Customs and issued to the BAC quarterly and tabled in the BAC meetings. funding risk
Border Protection. The reports were also issued to the respective operations
30. Reviewed proposal on proposed dual primary listing in the Stock Exchange of Hong Kong management, incorporating audit recommendations
Limited. and Management’s responses with regards to any audit
BAC Effectiveness Review and Performance
finding on the weaknesses in the systems and controls
31. Reviewed the guidelines on Conduct of Directors of Listed Corporations and its Subsidiaries
of the operations after completion of audit. The IAD
issued by Securities Commission Malaysia and its implication to the Group. The performance and effectiveness of the BAC is assessed
conducted a follow-up audit to ensure the agreed audit
32. Reviewed the updated Malaysian Code on Corporate Governance 2021 issued by Securities annually with the BAC assessing the Committee as a whole. The
recommendations were implemented appropriately.
Commission Malaysia and the gap analysis. BNRC will then review the evaluation results. During FY2021,
33. Reviewed the Group’s compliance with 11 International Labour Organization’s Forced Labour All members of the IAD continues to develop their the Board is satisfied that the BAC and its members have been
Indicators for Direct Operations. competencies through attending training programmes able to discharge their functions, duties and responsibilities in
34. Reviewed the Group’s compliance with ACT 446 of Employees’ Minimum Standards of conducted by professional certification body or from In accordance with the TOR of the BAC.
Housing, Accommodations and Amenities Act 1990. house, sharing of knowledge via transfer of learning (TOL)
programme to keep abreast with developments in the Besides, BAC also evaluated the effectiveness of Internal
profession, relevant industry and regulations to effectively Audit function and the External Auditors performance and their
perform their roles. Each of IAD members is required to
independence. Based on the assessment, the Board is satisfied
achieve at least 45 training hours during FY2021.
with the overall performance of the Internal Audit function and
External Auditors and their independence.
The total cost incurred for the in-house Internal Audit
Function for FY2021 was RM1,823,469 (FY2020:
RM1,325,794).

Key responsibilities of BRC are as follows:

BOARD RISK COMMITTEE REPORT
The Board Risk Committee (“BRC”) of Top Glove is pleased to present the BRC Report for the FY2021. Oversight the Review, monitor Review and
Risk assessment on
establishment and and assess the risk evaluate risk
major investment
As the global economy continues to change coupled with increasingly uncertain environment, the Board took cognisant implementation of portfolio and risk mitigation measures
or high impact
that it is important to adapt and evolve faster than ever to stay relevant and successful, particularly in risk management. The ERM framework and exposures for the undertaken by
business matters
ensure its robustness Group Management
Board delegated the risk oversight responsibility to the BRC. The Board through the BRC monitors and regularly reviews
the effectiveness of the Group’s risk management and internal control systems, including controls related to the material
financial, operational, reputational, cyber security, sustainability and regulatory compliance performance. The TOR of the BRC is available for reference on the Company’s website at https://www.topglove.com/governance-manual/

Composition & Structure
Framework, 1. Revisited the ERM Framework and BRC’s Terms BRC will continue its role in supporting the Board
The BRC comprises four (4) members as follows, all of whom are Independent Non-Executive Directors, which is in line with
Policy & of Reference to strengthen ERM processes in its risk oversight responsibilities in ensuring the
the Bursa Malaysia Securities Berhad (“Bursa Securities”) Main Market Listing Requirements (“Main LR”) and the Malaysian
Guidelines 2. Reviewed adoption of Business Continuity robustness of the ERM framework.
Code on Corporate Governance:
Management policy and framework to elevate
the Group’s resilience and governance level
Some of the priorities for FY2022 in addition to
Date of Appointment Tenure on the BRC 3. Reviewed adoption of Global Regulatory Risk
its regular activities are as follows:
Members as BRC Member as at 31 August 2021 framework
4. Reviewed adoption of Share Buy Back policy
1. Datuk Noripah Kamso (Chairman) 8 January 2019 2 Years 7 Months
and procedures from risk perspective
1 To conduct systematic periodic review
2. Dato’ Lim Han Boon 11 May 2013 8 Years 3 Months 5. Reviewed Bond Investment guideline
of the risk mapping of potential issues
3. Tan Sri Rainer Althoff 11 May 2013 8 Years 3 Months Risk 6. Ongoing Risk Matrix and Risk Register review
4. Datuk Dr. Norma Mansor 12 May 2017 4 Years 3 Months Monitoring to identify, evaluate, monitor, manage and 2 Integrate risk management into the day-
mitigate major risks to-day decision making process across all
7. Assessed emerging risk and mitigation plans business operations and business strategy
Note : D
ato’ Lee Kim Meow and Mr Lim Cheong Guan had stepped down as BRC member effective 1 December 2020 subsequent to the Board Committees
composition restructuring exercise. covering among others, the ESG risk and
reputational risk Linked risk management to performance
3
8. Assessed risks associated with the Group’s and reward through Key Performance
Meetings and Attendance An Enterprise Risk Management (“ERM”) Framework
overseas operations Indicator Index to reflect stronger
has been developed for all business processes by Risk compliance accountability for all staff
In FY2021, the BRC had met eight (8) times. The Company Management Department and approved by the BRC. The Appraise New 9. Risk assessment of new business ventures and
Secretary is in attendance in every meeting while the ERM Framework ensures that a structured risk management Business major projects undertaken
Instil risk awareness across the Group
Executive Director, Head of Internal Audit, Head of Risk process is adopted across the Group which incorporates Ventures & 10. Risk assessment on Proposed dual primary listing 4
through more education programmes
Management, Senior Management and other Board key process relating to the identification, assessment, Corporate in the Stock Exchange of Hong Kong Limited
such as technical risk assessment
members will attend the BRC meetings upon invitation, as mitigation, monitoring and reporting of the Group’s risks Proposal workshops to enhance the skills and
and when necessary. and controls. capabilities of the BRC members as well
Others 11. Recommended and deliberated on the
as the compliance talent pools
appointment of Chief Compliance Officer to take
The minutes of each BRC meeting was duly noted by the BRC is assisted by in-house Risk Management Department charge of global regulatory compliance for the
Board via distribution to each Board member and the and Risk Management Committee in the effective discharge seven jurisdictions where the Group operated 5 Formalise Risk Management Blueprint
Chairman of the BRC highlights on key issues discussed of their responsibilities in assessing risks, recommending to strengthen the Corporate Compliance
during the BRC meeting. measures to mitigate those risks and assuring proper programme groupwide Strengthen Business Continuity
6
control and governance process. 12. Recommended the establishment of Blockage Management
Refer to page 144 and 145 for the attendance record of BRC members. Management Taskforce as a long-term solution
to prevent and address the systemic risk
The Risk Management Department presents the Risk
13. Reviewed Management’s action plans in the BRC Effectiveness Review and Performance
Roles and Responsibilities Management Report to the BRC every quarter to provide an
upliftment of Withhold Release Order imposed
overview of the Group’s significant risks and action plans
by US Custom Border and Protection
During the financial year under review, the Board to mitigate the risks. The BRC provides its views which During the year under review, the Board assessed the
14. Reviewed Management’s action plans in
Investment Committee had been dissolved with effect from are then communicated to the respective risk owners. performance of the BRC through the annual Board
dealing with activists’ allegations
1 December 2020 and its function had been incorporated The significant risks are then escalated to the Board upon 15. Assessed the social audit compliance initiative Effectiveness Evaluation. During FY2021, the Board is
into the BRC. The Terms of Reference of BRC had been deliberation by BRC. undertaken by the Group in safeguard human satisfied that the BRC and its members have been able
amended to reflect the additional function. rights to discharge their functions, duties and responsibilities
in accordance with the TOR of the BRC.

PRINCIPLE C: INTEGRITY IN CORPORATE REPORTING AND MEANINGFUL RELATIONSHIP WITH Financial Calendar
STAKEHOLDERS
9 Dec 2020 9 Mar 2021 9 Jun 2021 17 Sep 2021 28 Oct 2021 12 Nov 2021
As a Group, we are more conscious than ever of the HAVING REGULAR AND TRANSPARENT
importance of stakeholder engagement and believe that COMMUNICATION WITH STAKEHOLDERS Unaudited Unaudited Unaudited Unaudited Issuance Issuance of
effective communication and proactive engagement consolidated consolidated consolidated consolidated of Audited Integrated
with stakeholders is paramount in establishing a mutual The Board is fully committed in maintaining a high standard results for the results for results for the results for the Financial Annual Report
understanding of both the Group’s and stakeholders’ in the dissemination of relevant and material information on first quarter the second third quarter fourth quarter Statements for 2021
ended 30 quarter and ended 31 May and financial the financial
objectives. We understand the value of long-term thinking the development of the Group to the stakeholders.
November half year 2021 year ended 31 year ended 31
and believe that effective stakeholder engagement is
2020 ended 28 August 2021 August 2021
critical to fostering mutually beneficial relationships and The Company has always been providing as much
February 2021
securing our long-term success. information on a voluntary basis in addition to complying
with Bursa Securities Main LR through media releases. The Note : All the Quarterly Results Briefing FY2021 were held virtually on the same date as the financial result release date.
While the majority of engagement with stakeholders is Board is mindful of the legal and regulations governing the
undertaken by our experienced and dedicated Management release of material and sensitive information so as not to Dividend Calendar
teams, the Board is kept continually apprised of stakeholder mislead shareholders. Therefore, information that is price-
matters. The directors are also ready whenever required sensitive or any undisclosed material information about
to engage directly with stakeholders, as demonstrated by the Group is not disclosed to any party until it is ready for 1st Interim 2nd Interim 3rd Interim Final
the directors’ participation in employee forums. The Board simultaneous distribution.
Single Tier First Interim Total Second Interim Total Third Interim Total Final Dividend of 5.4
receives regular updates from the Executive Directors
Dividend of 16.5 sen Dividend of 25.2 sen Dividend of 18 sen sen per share consists of:
and senior management on insights and feedback from The Board has formalised a Corporate Disclosure Policy
per share per share consists of: per share consists of: (i) Single Tier Final
stakeholders which allows the directors to understand and to ensure that communications to the public regarding
(i) Single Tier Second (i) Single Tier Third Interim Dividend of 3.8 sen
consider the perspectives of key stakeholders in decision the Group are timely, factual, accurate and complete. The
Interim Dividend of Dividend of 12.7 sen per share; and
making. It also allows the Board to oversee and monitor said Policy outlines the central principles and practices in
18.0 sen per share; and per share; and (ii) Special Dividend of
effectively the work being done within the stakeholder communicating with the investors, shareholders, medias
(ii) Special Dividend of (ii) Special Dividend of 1.6 sen per share.
environment and affords the directors the opportunity to and regulators.
7.2 sen per share. 5.3 sen per share.
appraise and challenge, where appropriate, the work being
The Corporate Disclosure Policy is accessible through the Company’s
done by Management and any associated decisions. The website: https://www.topglove.com/governance-manual/ Entitlement date : Entitlement date : Entitlement date : Entitlement date :
Board is cognizant of the fact that the relevance of each 28 December 2020 24 March 2021 24 June 2021 4 October 2021
stakeholder group may change depending on the matters The Company has been using the following formal channels
being considered and it therefore seeks to understand the to communicate with shareholders and stakeholders: Payment date : Payment date : Payment date : Payment date :
needs and priorities of the relevant stakeholders during the 11 January 2021 6 April 2021 7 July 2021 15 October 2021
decision making process. 1. Integrated Annual Report:
https://www.topglove.com/annual-report/
Being mindful of the interests of our stakeholders is 2. Website:
IR Contact and Feedback Corporate Matters Media Enquiries
something which is embedded in Top Glove’s DNA and https://www.topglove.com
is inherent in the Group’s decision making processes. 3. Corporate Announcement: Investor queries and feedback Media related enquiries and
Corporate, Announcement and
Therefore, while decisions are frequently made at https://www.topglove.com/investor-relations-event pertaining to financial performance feedback may be referred
General Meetings related queries
an operational level, the directors are confident that 4. General Meeting: or developments may be directed to the head of Corporate
and feedback may be referred to
due consideration and regard is always given to how https://www.topglove.com/investor-relations-event to the head of Investor Relations Communications department:
the head of Corporate Services
the decisions may impact its stakeholders and to the 5. Newsroom: team: department:
consequences of such decisions in the long term. https://www.topglove.com/newsroom (N) : Ms. Michelle Voon Wei-Ann
6. Investor Relations: (N) : M
r. Lim Cheong Guan (T) : +603 3362 3098
(N) : Ms. Kassy Lim Keat See
https://www.topglove.com/ir-overview-en (Executive Director) (F) : +603 3362 3860
(Company Secretary)
(T) : +603 3362 3098 (T) : +603 3362 3098 (E) : media@topglove.com.my
The details of how the Company has been engaging with its
stakeholders can be found on page 57 to 60 of the Corporate (F) : +603 3362 3860 (F) : +603 3362 3860
Governance Report 2021, which is available on our website at https:// (E) : invest@topglove.com.my
www.topglove.com/governance-manual/ (E) : topglovecosec@topglove.com.my

How Our Key Stakeholders are Connected
Shareholders/ Government/ Local Industry

NGOs Media
Investors Regulators Community Associations
Our Value Chain Suppliers Employees Customers
Stakeholder Top 5 Material How

Why We Engage? Frequency Our Response To Concerns Value Created
Group Matters Concerned We Engage?
Staff assembly Weekly 1. Subsidised medical check-up, free yearly

Employees are the blood screening and dental check-up for
backbone of the Employee satisfaction survey Annually employees
1. Occupational 1. Strong relationships
Group’s business. 2. Frequent training on safety for factory
Health and Safety with employees
Their knowledge and Performance appraisal review Bi-annually employees
2. Customer Experience 2. Stronger motivation to
experience contribute 3. Social aspects training
3. Infectious Diseases Recreational activities/ improve productivity
to the daily operations 4. Worker townhalls
4. Human Rights empowerment and training 3. Safer work environment
and ensure Top Glove 5. Safety awareness programmes
Employees 5. Ethics, Integrity and opportunities 6. COVID vaccination for employees leading to lower incident
is able to achieve the
Governance As needed 7. Improved workers’ accommodation according rate
Company’s long-term Newsletters
goal. to regulations
8. Independent audits on labour practices
Corporate events
1. Customer Experience Meetings

Our customers in 1. Product inspections prior to delivery 1. Stronger customer
2. Product Quality to customers relationships, leading to larger
different industries rely
and Safety Social compliance audits As needed 2. Quality testing of random samples customer base and retention
on our products to
3. Ethics, Integrity and from finished products by Quality 2. Increased brand relevance
carry out their daily Customer portal
Governance Assurance team globally
duties. Our market
4. Occupational Health 3. Customer satisfaction survey 3. Renewal of product licenses
share comprised our Business trips
and Safety 4. SMETA and BSCI social audits initiated and business permits
Customers customers around the Annually
5. Supply Chain by customers 4. Customers’ satisfaction
globe. Tradeshows 5. Suppliers certified with FSC certification guaranteed
Management
Analysts’ briefings Quarterly

1. Customer
Annual survey form Annually 1. Innovation through R&D 1. Assured and continuous
Shareholders and Experience
2. Investment in automation and digitalisation investors’ confidence
investors invest in the 2. Product Quality Annually and
General meetings 3. Updated corporate website 2. Transparency in corporate
Group’s business and and Safety as needed
4. Implementation of the Anti-Bribery governance reporting
we are obligated to share 3. Ethics, Integrity
Analysts/fund managers/ Management System and practices
our financial performance and Governance
investors meetings 5. Adoption of Corporate Disclosure Policy 3. Greater product range
Shareholders/ and strategic decisions 4. Infectious Diseases
Investors 6. COVID vaccination for employees 4. Consistent product quality
for future outlook. 5. Labour Management As needed 7. Customer satisfaction survey
Roadshows and conferences and lower production cost
Relations
Social media platform
Suppliers provide the 1. Customer Experience 1. Regular meetings and interactions on

Audits and site visits Annually
necessary raw materials 2. Occupational Health issues encountered 1. Sustainable supply
for our production and Safety 2. Supplier audits after meetings and interactions source process
process. To ensure 3. Product Quality and 3. Quality testing of random samples from 2. Business reputation and
Meetings
stable raw material, it Safety finished products by Quality Assurance team integrity assured
is essential to maintain 4. Ethics, Integrity and As needed 4. Customer satisfaction survey 3. Stronger business
Suppliers good relations with Governance 5. COVID vaccination for employees
Electronic procurement network relationship with suppliers
them. 5. Infectious Diseases 6. Updated Business Partners’ Code of Conduct

Stakeholder Top 5 Material How

Why We Engage? Frequency Our Response To Concerns Value Created
Group Matters Concerned We Engage?
1. Quality testing of random samples from

Governmental bodies 1. Occupational Health finished products by Quality Assurance team 1. Renewal of product licenses
introduce laws and and Safety 2. COVID vaccination for employees and business permits
policies that could impact 2. Infectious Diseases 3. Frequent training on safety for factory 2. Product quality and
our business locally and 3. Product Quality and employees employees’ safety assured
Formal meetings As needed
globally. To maintain the Safety 4. Safety awareness programmes 3. Business reputation and
legality of our business, it 4. Waste and Effluent 5. Disposal of schedule waste according to integrity assured
Government/ 5. Environmental
Regulators is essential to comply with Department of Environment’s (DOE) standards 4. Compliance with
Compliance governmental regulations
their regulations. 6. Factories certification with Environmental
Management System ISO14001
We are just a small part of 1. Disposal of schedule waste according to

a larger community. Given 1. Waste and Effluent Formal meetings
DOE’s standards
that there could be adverse 2. Infectious Diseases 1. Stronger relationship with
2. Monitoring of direct and indirect emissions the local community
impacts, we are obligated 3. Environmental
3. Effluent discharge monitoring 2. Safer and cleaner living
to mitigate them as we Compliance As needed
rely on the community’s 4. Occupational Health 4. COVID vaccination for factory employees environment for the local
Local and Safety Community support 5. Independent audits on labour practices community
Community goodwill to continue our
5. Human Rights programmes 6. TGGD Clinic open to local community
operations.
NGOs provide valuable 1. Ethics, Integrity and

Governance Formal/casual meetings 1. Quality testing of random samples from
inputs with respect
2. Infectious Diseases finished products by Quality Assurance team 1. Positive relationship with
to our social and
3. Product Quality and 2. Implementation of the Anti-Bribery NGOs
environmental efforts. As needed
Safety Management System 2. Improved company’s
Non- They also bridge the
4. Human Rights 3. Independent audits on labour practices image among the public
Government distance between other
Organisations 5. Occupational Health Campaigns 4. COVID vaccination for employees
stakeholders. and Safety
(NGOs)
The media has great Quarterly financial

Quarterly 1. COVID vaccination for employees
influence over the public 1. Infectious Diseases results’ briefings
2. Quality testing of random samples from finished
perception of the Group. 2. Product Quality and 1. Increased brand relevance
products by Quality Assurance team
The Group’s reputation Safety and reputation
3. Monitoring of direct and indirect emissions
partially relies on the 3. Environmental Interviews 2. Transparency in
4. Environmental awareness programmes for all employees information reporting to all
positive or negative media Compliance
As needed 5. Implementation of a Solar Power System to reduce relevant parties
Media reporting that may lead 4. Water Management
emissions
to a reputation boost or 5. Human Rights Media inquiries 6. Independent audits on labour practices
damage.
Different associations
bring different market 1. Continuous support from
1. Human Rights 1. Innovation through R&D
insights and feedback that 2. Product Safety industrial peers
could be beneficial to the and Quality 2. Investment in automation and digitalisation 2. Informational updates about
Group’s long-term growth. 3. Ethics, Integrity 3. Implementation of Zero Cost Recruitment Policy the industry to keep track
Effective engagement & and Governance Management/Board meetings As needed 4. Whistleblowing Policy 3. Stronger relationships with
collaboration with industry 4. Labour Management 5. Independent audits on labour practices our peers
Industry associations could Relations 6. Factories certification with Environmental 4. Industrial peers assured
Associations create positive impacts 5. Environmental of business integrity and
Compliance Management System ISO14001 sustainability
to the environment &
stakeholders.

Other Compliance Information: 7. Employees’ Share Option Scheme (“ESOS”)
1. Utilisation of Proceeds The details of the ESOS for FY2021 are as follows:
There were no funds raised by the Company through any corporate proposal during FY2021. Total number of ESOS options granted 83,545,900
2. Audit & Non-Audit Fees Percentage of ESOS option granted to the Directors
15.42% of the total ESOS option granted
and senior management
Details of statutory audit, audit-related and non-audit fees paid/payable in the FY2021 to Ernst & Young PLT and its Total number of ESOS options exercised 28,968,800
affiliates are as follows:
Total ESOS options outstanding as at 31 August 2021 90,391,300
Top Glove Top Glove Group Other than the above, there were no issuance of convertible securities during FY2021. The number of ESOS option
Type of Fees (RM) (RM) granted and exercised by the Directors as well as their ESOS options outstanding are disclosed on page 181 of this
a) Audit fees Integrated Annual Report.
• Messrs. Ernst & Young PLT, Malaysia 80,000 622,000

The details of the issued and paid-up share capital of the Company as at 31 August 2021 are as follows:
b) Non-Audit fees *
• Messrs. Ernst & Young PLT, Malaysia 1,874,000 1,874,000 No. of Shares RM
• Member firm of Ernst & Young Global Limited 611,000 611,000 As at 1 September 2020 2,708,825,249 1,675,704,221.90
Total: 2,565,000 3,107,000 Ordinary shares issued pursuant to the ESOS 28,968,800 58,060,533.00
Ordinary shares issued pursuant to conversion of exchangeable bond 50,351,869 104,386,896.70
* The significant portion of the Non-Audit fees was pursuant to the appointment of Messrs. Ernst & Young PLT as the reporting
accountants to report on the financial information of Top Glove Group in connection with the Company’s proposed listing on the Ordinary shares issued pursuant to Bonus Issue 5,418,718,116 -
Main Board of the Stock Exchange of Hong Kong Limited.
ESOS Compensation reserve - 4,002,500.00
3. Recurrent Related Party Transactions ESOS Cost - (500,585.37)

As at 31 August 2021 8,206,864,034 1,841,653,566.23
During FY2021, there were no recurrent related party transactions of a revenue or trading nature involving the Directors
and/or substantial shareholders of the Company.
8. Employees Share Grant Plan (“ESGP”)
4. Material Contracts
The Company had established the ESGP of up to ten per centum (10%) of the issued and paid-up share capital of
the Company (excluding treasury shares) for the eligible employees and Executive Directors of the Company and its
During FY2021, there were no material contracts entered into by the Company and its subsidiaries involving the
subsidiaries for a duration of ten (10) years from 12 January 2016 to 11 January 2026.
interests of Directors, Chief Executive and/or major shareholders.
The details of the ESGP for FY2021 are as follows:

5. Material Contracts Relating to Loans
During FY2021, there were no material contracts relating to loans entered into by the Company and its subsidiaries Total number of shares awarded under ESGP 2,238,700
involving the interests of Directors, Chief Executive and/or major shareholders. Percentage of shares awarded to Director under ESGP 0.0002%
Percentage of shares awarded to the Directors
6. Insider Trading 6.62% of the total shares awarded
and senior management under ESGP
During FY2021, there was no insider trading reported.

STATEMENT ON RISK MANAGEMENT STATEMENT ON RISK MANAGEMENT

AND INTERNAL CONTROL
AND INTERNAL CONTROL
The Statement on Risk Management and Internal Control is made in accordance with Paragraph The BRC will subsequently report the major risks to the Board of Directors to ensure the risk exposures are acceptable
and appropriate level of risk mitigation are being implemented. This approach creates a robust enterprise risk management
15.26 (b) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa
system that is self-sustaining and will continue to evolve in response to changing business environment.
Securities”) and guided by the Statement on Risk Management and Internal Control - Guidelines
for Directors of Listed Issuers. This Statement outlines the nature and scope of the enterprise risk In addition, the Group adopts the Three Lines of Defence model to ensure a structured governance practise. The importance
of the Three Lines of Defence model is to ensure clear functional responsibilities and accountabilities for the management
management and internal control systems within the Group during the year under review.
of risk, compliance and internal control. This is reflected in the Three Lines of Defence model which were adopted by the
Group as depicted below:
BOARD RESPONSIBILITY decision making, execution of appropriate risk mitigation
measures and progress monitoring thereof, as well as TOP GLOVE THREE LINES OF DEFENCE MODEL
The Board is committed to establishing and maintaining identification of new and emerging risk factors.
a sound, effective and efficient system of enterprise
risk management and internal control to safeguard RMC is chaired by an Executive Director and comprises
shareholders’ investment and the Group’s asset. heads of business units or support functions, who are risk Board
owners themselves, as members.
The enterprise risk management and internal control
system are designed to identify and manage the Group’s Due to the Group’s rapid expansion of its business and
risks in order to achieve the Group’s business objectives. manufacturing operations across different regions, a
1st Line of 2nd Line of 3rd Line of
The Board is aware that the enterprise risk management Global Risk Management Structure was established across
Defence Defence Defence
and internal control system can only provide reasonable the regions where the Group operates. The establishment
External Audit
and not absolute assurance against the risk of material loss of Risk Working Committees (“RWC”) led by respective
or occurrences of unforeseeable circumstances. Country Head and Joint Manufacturing Council member Risk
Business Board
acts as an accountable point of contact for an enterprise Management
Risk
RISK MANAGEMENT GOVERNANCE risk at the senior leadership level, who coordinates efforts Units
Committee
to mitigate and manage the risk with the person in charge
The Board regards risk management as an integral part who owns whole or part of the risk to ensure effective full Board
of all business operations. Hence, the Board assumes coverage of risk assessment of all business units locally Compliance Internal Audit Audit
Committee
the responsibility of managing major risks and ensures and globally.
the implementation of a dynamic system to manage risk Support Board
exposure within the acceptable level of tolerance. ENTERPRISE RISK MANAGEMENT SYSTEM Departments Sustainability
Sustainability Committee
To fulfil its oversight responsibility, the Board, through The Group’s Enterprise Risk Management Framework is set
delegation to the Board Risk Committee (“BRC”), reviews up in accordance with ISO 31000:2018 Risk Management
the adequacy and integrity of the Group’s enterprise risk Guideline where risks arising from the business and
management system which includes the key processes of manufacturing operations are continuously identified.
risk identification, assessment, mitigation, monitoring and These identified risks are incorporated into the risk register
reporting. and are assessed to determine if the risk rating is Extreme,
High, Medium or Low. The rating process is guided by a 1st Line of Defence 2nd Line of Defence 3rd Line of Defence
The members of BRC, comprising four Independent Non- matrix of possibility of occurrence and the associated Manage the company’s Facilitate and monitor Provide assurance on
Executive Directors are as follows: impacts, of which both financial and non-financial risks, controls and the implementation governance, compliance, risk
consequences are duly considered. Thereafter, owners of compliance matters on a of an effective management and internal controls
1. Datuk Noripah Kamso (Chairman) these risks will drive the implementation of risk mitigation daily basis by implementing risk management, effectiveness. This includes the
2. Tan Sri Rainer Althoff measures towards achieving a residual risk that is within effective internal controls compliance and effectiveness of the company’s
3. Dato’ Lim Han Boon the acceptable tolerance. and procedures. sustainability process. first and second lines of defence.
4. Datuk Dr. Norma Mansor
Updates on the progress and adequacy of the mitigation
In addition, a Risk Management Committee (“RMC”) was measures are assessed and reported on a quarterly basis. In
formed in May 2013 to facilitate the risk management addition, any identified emerging critical risk factors will be
Accountability, Reporting Delegation, Direction, Oversight Reporting
initiative at the Management level. RMC serves as the driving incorporated into the risk register and managed in accordance
force behind the day-to-day risk management activities. Its to the Group’s enterprise risk management methodology.
main functions encompass provision of regular feedback Outcome of the RMC meetings will subsequently be
on status of risk factors to facilitate informed management escalated to the BRC for further deliberation.

STATEMENT ON RISK MANAGEMENT STATEMENT ON RISK MANAGEMENT

AND INTERNAL CONTROL AND INTERNAL CONTROL
INTERNAL CONTROL GOVERNANCE The work scope of IAD encompasses the examination and The audit reports are presented and tabled at quarterly BAC REVIEW OF THE STATEMENTS BY EXTERNAL
evaluation of the adequacy, existence and effectiveness meetings to preserve its independence and objectivity. AUDITORS
The Management team, led by Executive Chairman, of the system of internal control, risk management and Significant internal audit findings and status update on
Managing Director and Executive Directors, comprises corporate governance of the group, which includes, inter outstanding management action plan will be brought to The External Auditors have performed limited assurance
experienced personnel who are subject matter experts alia, the following: the attention of BAC. If deemed necessary, management procedures on this Statement on Risk Management and
in their own specialized fields. The Management team representative will be required to attend BAC meeting to Internal Control pursuant to the scope set out in Audit
are held accountable for the conduct and performance provide explanation and propose an action plan on the and Assurance Practice Guide (“AAPG”) 3, Guidance for
within their assigned business units and support functions. 1 Reviewing the reliability and integrity of unresolved issues. Auditors on Engagements to Report on the Statement
Internal control principles are strongly advocated and financial and operating information and the on Risk Management and Internal Control included in
embedded into the various day-to-day operational policies means used to identify, measure, classify REVIEW OF EFFECTIVENESS the Integrated Annual Report issued by the Malaysian
and procedures of the business units and support functions and report such information; Institute of Accountants for inclusion in the Integrated
concerned. These assigned business units and support The Board is dedicated to operating a sound system of Annual Report of the Group for the FY2021, and reported
functions will conduct its management meetings at regular risk management and internal controls, and recognizes to the Board that nothing has come to their attention
Evaluating the system established to ensure
interval to monitor its performance, action plan progress 2 that the system must continuously evolve to support the that causes them to believe that this Statement included
compliance with policies, plans, procedures,
and gather further feedback for improvement purposes. progressive business growth of the Group. in the Integrated Annual Report is not prepared, in all
laws, and regulations which could have
material respects, in accordance with the disclosures
significant impact on operations;
To fulfil its oversight responsibility, the Board Audit The process for identifying, evaluating and managing required by Paragraphs 41 and 42 of the Statement on
Committee (“BAC”) is committed to review the adequacy risks as outlined in this Statement has been in place for Risk Management and Internal Control: Guidelines for
and effectiveness of the Group’s internal control system. In Examining the means of safeguarding assets the year under review and up to the date of approval of Directors of Listed Issuers, nor is the Statement factually
this respect, the Group’s Internal Audit Department (“IAD”) 3 this statement. During the financial year ended 31 August inaccurate.
and, as appropriate, verifying the existence
has been set up in financial year ended 31 August 2003 of such assets; 2021, a number of improvements to internal control gaps
to undertake the obligation of providing control assurance have been implemented by enhancing the controls towards AAPG 3 does not require the External Auditors to consider
services to the Group. digitalization such as automating certain manual processes whether the Directors’ Statement on Risk Management
Assessing the economy and efficiency with using technologies, implementing electronic workflow and Internal Control covers all risks and controls, or to
4
The External Auditor provides further assurance to the which resources are employed; process and integrating SAP systems to create good form an opinion on the adequacy and effectiveness of
BAC in the form of annual statutory audit of the financial visibility and transparency. There has been no material the Group’s risk management and internal control system
statements. Areas of concern identified during the course of adverse impact to the financial performance of the Group including the assessment and opinion by the Directors and
Appraising operations to ascertain whether
external audit examination will be brought to the attention 5 as a result of the internal control gaps detected. Management thereon. The report from External Auditors
results are consistent with established
of the BAC through management letters and discussion at was made solely for, and directed solely to the Board of
objectives and goals and whether the
the BAC Meeting. The Board, with the assurance received from the Managing Directors in connection with their compliance with the
operations are being carried out as planned;
Director and its Executive Director, concludes that the Bursa Malaysia Securities Berhad Main Market Listing
INTERNAL AUDIT FUNCTION Group’s risk management and internal control system are Requirements and for no other purposes or parties. The
Reporting significant issues related to the operating adequately and effectively, in all material aspects. External Auditors do not assume responsibility to any
The Group has in place an in-house IAD which provides 6 person other than the Board of Directors in respect of any
business and operational processes for
to the Board, through the BAC, independent assessment controlling the activities of the Group together This Statement does not include the state of internal aspect of this Statement.
and assurance on the adequacy and effectiveness of the with recommendations for improvements by control in associate companies, which has not been dealt
Group’s system of internal controls. issuing periodic audit reports summarizing with as part of the Group and is made in accordance with a
results of audit activities and follow- resolution of the Board of Directors dated 27 October 2021.
up reports on a timely basis to BAC and
management; and
Assisting in the investigation of significant

7
suspected fraudulent activities and notify the
BAC and top Management of the results.

OUR PERFORMANCE
DIRECTORS’ REPORT
FINANCIAL DIRECTORS’
STATEMENTS RESPONSIBILITY The directors have pleasure in presenting their report together with the audited financial statements of the Group and of the
STATEMENT Company for the financial year ended 31 August 2021.
OUR PERFORMANCE For the Audited Financial Statements

PRINCIPAL ACTIVITIES
176 Directors’ Responsibility Statement The Directors are required by the Companies Act 2016 (CA) to
The principal activities of the Company are investment holding and provision of management services.
prepare the financial statements for each financial year which

177 Directors’ Report The principal activities and other information of the subsidiaries are described in Note 19 to the financial statements.
have been made out in accordance with applicable Malaysian
185 Statement by Directors Financial Reporting Standards (MFRSs), the International
There have been no significant changes in the nature of these principal activities during the financial year.
Financial Reporting Standards (IFRSs), and the requirements
185 Statutory Declaration of the CA in Malaysia.
RESULTS
186 Independent Auditors’ Report The Directors are responsible to ensure that the financial
statements give a true and fair view of the state of affairs of the Group Company
190 Statements of Profit or Loss Group and of the Company at the end of the financial year, and RM’000 RM’000
of the results and cash flows of the Group and of the Company
191 Statements of Comprehensive Profit net of tax 7,823,992 6,461,350
for the financial year.
Income Profit attributable to:
In preparing the financial statements, the Directors ensured
Owners of the parent 7,710,327 6,461,350
192 Statements of Financial Position that the Management has:
Holders of Perpetual Sukuk 51,350 -
195 Statements of Changes in Equity • adopted appropriate accounting policies and applied
Non-controlling interests 62,315 -
them consistently; 7,823,992 6,461,350
198 Statements of Cash Flows • made judgements and estimates that are reasonable and
prudent; and There were no material transfers to or from reserves or provisions during the financial year other than as disclosed in the financial
202 Notes to the Financial Statements statements.
• prepared the financial statements on a going concern
basis.
In the opinion of the directors, the results of the operations of the Group and of the Company during the financial year were not
The Directors are responsible to ensure that the Group and substantially affected by any item, transaction or event of a material and unusual nature.
OTHER INFORMATION
the Company keep accounting records which disclose the
financial position of the Group and of the Company with DIVIDENDS
291 List of Properties reasonable accuracy, enabling them to ensure that the financial
statements comply with the CA. The amounts of dividends paid by the Company since 31 August 2020 were as follows:
308 Analysis of Shareholdings
311 Notice of 23rd AGM The Directors are responsible for taking such steps as are RM’000
reasonably open to them to safeguard the assets of the Group
and of the Company, and to detect and prevent fraud and In respect of the financial year ended 31 August 2021:
317 Administrative Details for 23rd AGM
other irregularities. Third tax exempt interim single tier dividend of 18 sen per share on 8,004,542,000
323 Proxy Form ordinary shares, declared on 9 June 2021 and paid on 7 July 2021 1,440,559
Second tax exempt interim single tier dividend of 25.2 sen per share on 8,004,018,000
325 GRI Content Index ordinary shares, declared on 9 March 2021 and paid on 6 April 2021 2,017,607
First tax exempt interim single tier dividend of 16.5 sen per share on 8,022,604,000
331 Independent External Assurance
ordinary shares, declared on 9 December 2020 and paid on 11 January 2021 1,323,582
Statement
In respect of the financial year ended 31 August 2020:
335 Corporate Song
Final tax exempt single tier dividend of 8.5 sen per share on 8,143,086,000
ordinary shares, declared on 23 September 2020 and paid on 3 November 2020 692,321
5,474,069
Further details on dividends recognised during the financial year are disclosed in Note 46 to the financial statements.
A single tier final dividend in respect of the financial year ended 31 August 2021, of 5.4 sen per share on 8,007,085,000 ordinary
shares amounting to RM432,454,000 had been declared on 17 September 2021 and paid on 15 October 2021. The financial
statements for the current financial year do not reflect this dividend. Such dividend will be accounted for within equity as an
appropriation of retained earnings for the financial year ending 31 August 2022.

OUR PERFORMANCE
DIRECTORS’ REPORT (CONT’D) DIRECTORS’ REPORT (CONT’D)
DIRECTORS DIRECTORS (CONT’D)
The names of the directors of the Company in office since the beginning of the financial year to the date of this report are: The names of the directors of the Company’s subsidiaries in office since the beginning of the financial year to the date of this
report, not including those directors listed above are (cont’d):
Tan Sri Dr Lim Wee Chai*
Tan Sri Rainer Althoff Tan Chee Hoong
Dato’ Lee Kim Meow* Tan Puay Choo
Puan Sri Tong Siew Bee* Tee Sui Ling
Lim Hooi Sin* Thomas Petermoeller
Lim Cheong Guan* Wilawan Sakulsongboonsiri
Dato’ Lim Han Boon Wong Chong Ban
Datuk Noripah Binti Kamso Cheoh Hooi Gaik (Appointed on 22 December 2020)
Sharmila Sekarajasekaran Wu Kin Yeap (Appointed on 24 December 2020)
Datuk Dr. Norma Mansor Dato’ Abdul Rahim Bin Abdullah (Appointed on 30 June 2021)
Azrina Binti Arshad Bong Khoon Sheng (Appointed on 30 June 2021)
Lim Andy Dato’ Dr. Sharifah Fauziah Alhabshi (Appointed on 22 October 2021)
Dato Julie Wong Seng Choo (Appointed on 22 October 2021)
*These directors are also directors of the Company’s subsidiaries. Dr. Tang Siew Fun (Appointed on 22 October 2021)
Chan Siao Yun (Appointed on 22 October 2021)
The names of the directors of the Company’s subsidiaries in office since the beginning of the financial year to the date of this Chia Hock Yi (Appointed on 22 October 2021)
report, not including those directors listed above are: Chong Fei Meng (Appointed on 22 October 2021)
Chong Fook Siong (Appointed on 22 October 2021)
Dato’ IR Haji Ahmad Bin Hassan Lee Sow Theng (Appointed on 22 October 2021)
Dr. Navindra A/L Nageswaran Lim Jew Kiat (Appointed on 22 October 2021)
Dr. Pongsak Kerdvonbundit Ling Siew Szen (Appointed on 22 October 2021)
Choh Ai Ying Loke Kean Mun (Appointed on 22 October 2021)
Chookiad Usaha Ng Seow Wei (Appointed on 22 October 2021)
Galuh Faradisa Noraziah Binti Mahmud (Appointed on 22 October 2021)
Ho Chee Meng Edmund Norhazlin Binti Hamzah (Appointed on 22 October 2021)
Ho Kim Nam Ong Ah Chye (Appointed on 22 October 2021)
Hue Kon Fah Puah Kean Seng (Appointed on 22 October 2021)
Koek I Long Stephanie Thong Pei Ling (Appointed on 22 October 2021)
Lam Yat Hing Wee Hiong Ching (Appointed on 22 October 2021)
Law Eng Lim Yap Rueh Yinn (Appointed on 22 October 2021)
Lee Shin Hwai Ng Wee Chong (Resigned on 1 September 2020)
Leong Chew Mun Marcelo Nastromagario (Resigned on 11 September 2020)
Lew Sin Chiang Tio Thiam Boon (Resigned on 24 December 2020)
Liew Say Keong
Lim Hwa Chuan DIRECTORS’ BENEFITS
Lim Jin Feng
Lim Keuw Wei Neither at the end of the financial year, nor at any time during that year, did there subsist any arrangement to which the Company
Masato Katayama was a party, whereby the directors might acquire benefits by means of the acquisition of shares in or debentures of the Company
Ng Yong Lin or any other body corporate, other than those arising from the share options granted under the employee share options scheme
Oh Teik Chye (“ESOS”) and the employee share grant plan (“ESGP”).
Phattaraporn Fueangthong
Puon Tuck Seng Since the end of the previous financial year, no director has received or become entitled to receive a benefit (other than benefits
Ravi A/L Supramaniam included in the aggregate amount of emoluments received or due and receivable by the directors or the fixed salary of a full-time
Saw Eng Kooi employee of the Company as disclosed in Note 12 to the financial statements) by reason of a contract made by the Company or
See So Kim Huat a related corporation with a director or with a firm of which the director is a member, or with a company in which the director has
Siow Chun Min a substantial financial interest, except as disclosed in the Note 39 to the financial statements.
Svami Utama Batang Taris
The Company maintains a liability insurance for the directors and officers of the Group. The total amount of sum insured for the
directors and officers of the Group for the financial year amounted to RM10,000,000 whilst the total amount of premium paid was
RM52,000. The directors or officers shall not be indemnified by such insurance for any deliberate negligence, fraud, intentional
breach of law or breach of trust proven against them.

OUR PERFORMANCE
DIRECTORS’ INTERESTS DIRECTORS’ INTERESTS (CONT’D)
According to the register of directors’ shareholdings, the interests of directors in office at the end of the financial year in shares According to the register of directors’ shareholdings, the interests of directors in office at the end of the financial year in shares
and options over shares in the Company during the financial year were as follows: and options over shares in the Company during the financial year were as follows (cont’d):
Number of ordinary shares Number of options over ordinary shares

At At At At
1.9.2020 Adjustment # Acquired Sold 31.8.2021 1.9.2020 Adjustment ^ Granted Exercised 31.8.2021
Tan Sri Dr Lim Wee Chai Tan Sri Dr Lim Wee Chai - - 3,131,700 - 3,131,700
- direct 696,521,752 1,393,043,504 66,467,100 - 2,156,032,356 Puan Sri Tong Siew Bee 123,900 247,800 127,500 371,700 127,500
- indirect 235,143,316 470,286,632 472,700 25,711,200 680,191,448 Dato’ Lee Kim Meow 472,600 945,200 - 1,417,800 -
Puan Sri Tong Siew Bee Lim Hooi Sin - - 600,500 - 600,500
- direct 7,430,392 14,860,784 371,700 100,000 22,562,876 Lim Cheong Guan 253,400 506,800 577,500 760,200 577,500
- indirect 924,234,676 1,848,469,352 66,568,100 25,611,200 2,813,660,928
Tan Sri Dr Lim Wee Chai, Puan Sri Tong Siew Bee and Lim Hooi Sin by virtue of their interest in shares of the Company are also
Dato’ Lee Kim Meow
deemed interested in shares of all the subsidiaries to the extent the Company has an interest.
- direct 882,200 1,764,400 1,435,400 2,300,000 1,782,000
- indirect 40,000 80,000 - - 120,000 ^ The number of options over ordinary shares has been adjusted to reflect the bonus issue of two for every one existing
Lim Hooi Sin ordinary share which was completed on 7 September 2020. Further details are disclosed in Note 33 to the financial
statements.
- direct 41,753,748 83,507,496 - 25,200,000 100,061,244

- indirect 889,740,920 1,779,481,840 66,839,800 100,000 2,735,962,560 ISSUE OF SHARES
Lim Cheong Guan
- direct 312,600 625,200 760,200 1,280,000 418,000 During the financial year, the Company increased its issued and paid-up ordinary share capital from RM1,675,704,000 to
RM1,841,654,000 by way of:
Tan Sri Rainer Althoff

- direct 4,500 9,000 15,000 26,500 2,000 (i) issuance of 5,418,718,116 ordinary shares through a bonus issue on the basis of two new ordinary shares for every one
Dato’ Lim Han Boon existing ordinary share held in the Company, by way of nil consideration;
- direct 80,000 160,000 20,000 - 260,000
(ii) issuance of 28,968,800 ordinary shares pursuant to the Company’s ESOS at an exercise price between RM1.54 to RM6.55
Sharmila Sekarajasekaran
per ordinary share; and
- direct 10,012,500 20,025,000 - - 30,037,500
- indirect 400,000 800,000 - - 1,200,000 (iii) conversion of 50,351,869 units of 5-year Guaranteed Exchangeable Bonds 2019/2024 (equivalent to RM104,387,000
Datuk Dr. Norma Mansor based on a settlement rate of USD1.00:RM4.0703) exchangeable into 533,809 and 49,818,060 new ordinary shares at an
- indirect 5,300 10,600 17,000 - 32,900 adjusted exchange price of RM6.10 and RM2.03 respectively.

Datuk Noripah Binti Kamso
The new ordinary shares issued during the financial year ranked pari passu in all respects with the existing ordinary shares of the
- direct 5,000 10,000 170,000 - 185,000 Company.
Azrina Binti Arshad
- direct - - 10,000 - 10,000 EMPLOYEE SHARE OPTIONS SCHEME (“ESOS”)
Lim Andy
At an Extraordinary General Meeting held on 9 January 2018, shareholders approved the ESOS for the granting of non-transferable
- direct 2,500 5,000 300,000 - 307,500 options that are settled by physical delivery of the ordinary shares of the Company, to the eligible employees and executive
directors respectively of the Company and its subsidiaries.
# The number of ordinary shares has been adjusted to reflect the bonus issue of two for every one existing ordinary share The committee administering the ESOS comprise two executive directors, Tan Sri Dr Lim Wee Chai and Lim Cheong Guan; four
which was completed on 7 September 2020. Further details are disclosed in Note 33 to the financial statements. independent non-executive directors Dato’ Lim Han Boon, Datuk Noripah Binti Kamso, Sharmila Sekarajasekaran and Datuk
Dr. Norma Mansor and one management staff Lim Jin Feng.
The salient features and other terms of the ESOS are disclosed in Note 38(i) to the financial statements.
During the financial year, the Company granted 83,545,900 share options under ESOS. These options will expire on 31 May 2028
and are exercisable if the employee has not served a notice of resignation or receive a notice of termination from the date of grant
and certain conditions as detailed in Note 38(i) to the financial statements are met.

OUR PERFORMANCE
EMPLOYEE SHARE OPTIONS SCHEME (“ESOS”) (CONT’D) OTHER STATUTORY INFORMATION
Details of the options exercised to subscribe for ordinary shares of the Company pursuant to the ESOS as at 31 August 2021 (a) Before the statements of comprehensive income and statements of financial position of the Group and of the Company
are as follows: were made out, the directors took reasonable steps:
Exercise Number of (i) to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of allowance
price options for expected credit loss and satisfied themselves that all known bad debts had been written off and that adequate
Expiry date RM ’000 provision had been made for expected credit loss; and
31 May 2028 1.69 3,673.4 (ii) to ensure that any current assets which were unlikely to realise their values as shown in the accounting records in the
31 May 2028 1.63 10,370.5 ordinary course of business had been written down to an amount which they might be expected so to realise.
31 May 2028 1.63 83.3

(b) At the date of this report, the directors are not aware of any circumstances which would render:
31 May 2028 1.54 3,040.3
31 May 2028 1.57 6,730.8 (i) the amount written off for bad debts or the amount of the expected credit loss in the financial statements of the Group
31 May 2028 3.30 4,115.0 and of the Company inadequate to any substantial extent; and
31 May 2028 4.25 100.7

(ii) the values attributed to the current assets in the financial statements of the Group and of the Company
31 May 2028 6.55 838.8 misleading.
31 May 2028 3.86 16.0
28,968.8 (c) At the date of this report, the directors are not aware of any circumstances which have arisen which would render adherence
to the existing method of valuation of assets or liabilities of the Group and of the Company misleading or inappropriate.
Details of share options granted to directors are disclosed in the section on Directors’ interests in this report.
(d) At the date of this report, the directors are not aware of any circumstances not otherwise dealt with in this report or
EMPLOYEE SHARE GRANT PLAN (“ESGP”) financial statements of the Group and of the Company which would render any amount stated in the financial statements
misleading.
At an Extraordinary General Meeting held on 6 January 2016, shareholders approved the ESGP for the eligible employees and
executive directors of the Company and its subsidiaries. (e) At the date of this report, there does not exist:

The committee administering the ESGP comprise two executive directors, Tan Sri Dr Lim Wee Chai and Lim Cheong Guan; (i) any charge on the assets of the Group or of the Company which has arisen since the end of the financial year which
four independent non-executive directors Dato’ Lim Han Boon, Datuk Noripah Binti Kamso, Sharmila Sekarajasekaran and secures the liabilities of any other person; or
Datuk Dr. Norma Mansor and one management staff Lim Jin Feng.
(ii) any contingent liability of the Group or of the Company which has arisen since the end of the financial year.
The salient features and other terms of the ESGP are disclosed in Note 38(ii) to the financial statements.
(f) In the opinion of the directors:
During the financial year, the Company granted 2,238,700 share grants under the ESGP amounting to RM8,641,000 to eligible
employees and executive directors. (i) no contingent or other liability has become enforceable or is likely to become enforceable within the period of twelve
months after the end of the financial year which will or may affect the ability of the Group or of the Company to meet
Details of shares granted to directors are disclosed in the section on Directors’ benefits in this report. their obligations when they fall due; and
TREASURY SHARES (ii) no item, transaction or event of a material and unusual nature has arisen in the interval between the end of the
financial year and the date of this report which is likely to affect substantially the results of the operations of the Group
During the financial year: or of the Company for the financial year in which this report is made.

(i) the Company repurchased 200,167,700 ordinary shares from the open market at an average price of RM7.11 per share. SIGNIFICANT EVENTS
The total consideration paid for the repurchase including transaction costs was RM1,424,095,000.
In addition to the significant events disclosed elsewhere in this report, other significant events are disclosed in Note 48 to the
(ii) the Company transferred 2,238,700 treasury shares to eligible employees under the ESGP at an average market price of financial statements.
RM3.86 per share. The total transferred treasury shares net of transaction costs were RM8,641,000. The difference between
the transferred treasury shares and the cost of the treasury shares which amounted to RM3,699,000 was recognised in SUBSEQUENT EVENT
equity.
Details of the subsequent event are disclosed in Note 49 to the financial statements.
As at 31 August 2021, the Company held as treasury shares a total of 199,913,800 of its 8,206,864,000 issued ordinary shares.
Such treasury shares are held at a carrying amount of RM1,413,274,000 and further relevant details are disclosed in Note 34 to
the financial statements.

OUR PERFORMANCE
DIRECTORS’ REPORT (CONT’D) STATEMENT BY DIRECTORS

Pursuant to Section 251(2) of the Companies Act 2016
AUDITORS We, Dato’ Lee Kim Meow and Dato’ Lim Han Boon, being two of the directors of Top Glove Corporation Bhd., do hereby
state that, in the opinion of the directors, the accompanying financial statements set out on pages 190 to 290 are drawn up in
The auditors, Ernst & Young PLT, have expressed their willingness to continue in office. accordance with Malaysian Financial Reporting Standards, International Financial Reporting Standards and the requirements of
the Companies Act 2016 in Malaysia so as to give a true and fair view of the financial position of the Group and of the Company
Auditors’ remuneration is as follows: as at 31 August 2021 and of their financial performance and cash flows for the year then ended.
Group Company Signed on behalf of the Board in accordance with a resolution of the directors dated 27 October 2021.
RM’000 RM’000
Ernst & Young PLT 622 80

Other auditors 529 -
1,151 80
To the extent permitted by law, the Company has agreed to indemnify its auditors, Ernst & Young PLT, as part of the terms of its Dato’ Lee Kim Meow Dato’ Lim Han Boon
audit engagement against claims by third parties arising from the audit for an unspecified amount. No payment has been made
to indemnify Ernst & Young PLT for the financial year ended 31 August 2021.
Signed on behalf of the Board in accordance with a resolution of the directors dated 27 October 2021.
STATUTORY DECLARATION
Dato’ Lim Han Boon
Pursuant to Section 251(1)(b) of the Companies Act 2016
Dato’ Lee Kim Meow
I, Dato’ Lee Kim Meow, being the director primarily responsible for the financial management of Top Glove Corporation Bhd., do
solemnly and sincerely declare that the accompanying financial statements set out on pages 190 to 290 are to the best of my
knowledge and belief, correct and I make this solemn declaration conscientiously believing the same to be true and by virtue of
the provisions of the Statutory Declarations Act, 1960.
Subscribed and solemnly declared by the

abovenamed, Dato’ Lee Kim Meow
at Shah Alam
on 27 October 2021. Dato’ Lee Kim Meow
Before me,
Commissioner for Oaths

OUR PERFORMANCE
INDEPENDENT AUDITORS’ REPORT INDEPENDENT AUDITORS’ REPORT

to the members of Top Glove Corporation Bhd. (Incorporated in Malaysia) (cont’d)
to the members of Top Glove Corporation Bhd. (Incorporated in Malaysia)
REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS Key audit matters (cont’d)
Opinion Review of costing of finished goods inventories (cont’d)
We have audited the financial statements of Top Glove Corporation Bhd., which comprise the statements of financial position Our audit procedures include, amongst others, the following:
as at 31 August 2021 of the Group and of the Company, and statements of profit or loss and other comprehensive income,
statements of changes in equity and statements of cash flows of the Group and of the Company for the year then ended, and a) Obtained an understanding of the Group’s current inventories valuation policy, production processes and the types of costs
notes to the financial statements, including a summary of significant accounting policies, as set out on pages 190 to 290. included in the valuation of finished goods inventories.
b) Evaluated the general and logical access controls surrounding the IT system by involving our IT audit professionals.
In our opinion, the accompanying financial statements give a true and fair view of the financial position of the Group and
of the Company as at 31 August 2021, and of their financial performance and their cash flows for the year then ended in
c) Assessed the appropriateness of the basis used by management in allocating the costs of production to the products
accordance with Malaysian Financial Reporting Standards, International Financial Reporting Standards and the requirements of
produced by the Group and tested the relevant application controls surrounding the allocation.
the Companies Act 2016 in Malaysia.
d) Agreed, on a sampling basis, the costs of raw materials to suppliers’ invoices.
Basis for opinion
Annual impairment test of goodwill arising from the acquisition of Aspion Sdn. Bhd. (“Aspion”)
We conducted our audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing. (Refer to Note 4.1, 7.2(b) and Note 23 to the financial statements)
Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial
statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a As at 31 August 2021, the Group recorded a goodwill of RM934 million arising from the acquisition of Aspion, which represented
basis for our audit opinion. 9% of the Group’s total assets. The goodwill amount has been allocated to cash generating unit (“CGU”) for impairment testing
purposes. The Group estimated the recoverable amount of the CGU to which the goodwill is allocated to based on value-in-use
Independence and other ethical responsibilities (“VIU”).

We are independent of the Group and of the Company in accordance with the By-Laws (on Professional Ethics, Conduct and Given its magnitude and the significant judgement involved in the impairment assessment, we consider this to be an area of
Practice) of the Malaysian Institute of Accountants (“By-Laws”) and the International Code of Ethics for Professional Accountants audit focus.
(including International Independence Standards) (“IESBA Code”), and we have fulfilled our other ethical responsibilities in
accordance with the By-Laws and the IESBA Code. Our audit procedures include, amongst others, the following:
a) Evaluated management’s key assumptions used in the cash flows projection, focusing on projected revenue, profit margins
Key audit matters
and terminal growth rates, taking into consideration the current and expected future economic conditions. We compared
the projected revenue to the past trends and compared expected revenue growth rates to relevant future market demand.
Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial
statements of the Group and of the Company for the current year. We have determined that there are no key audit matters b) Together with EY valuation specialists, we evaluated the discount rate used to determine the present value of the cash
to communicate in our report on the financial statements of the Company. The key audit matters for the audit of the financial flows and assessed whether the rate used reflects the current market assessment of the time value of money and the risk
statements of the Group are described below. These matters were addressed in the context of our audit of the financial statements specific to the asset is the return that the investors would require if they were to choose an investment that would generate
of the Group as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. cash flows of amounts, timing and risk profile equivalent to those that the entity expects to derive from the asset.
For each matter below, our description of how our audit addressed the matter is provided in that context.
c) Assessed the sensitivity of the cash flows to changes in the key assumptions to understand the impact that reasonable
We have fulfilled the responsibilities described in the Auditors’ responsibilities for the audit of the financial statements section of our alternative assumptions would have on the overall recoverable amount.
report, including in relation to these matters. Accordingly, our audit included the performance of procedures designed to respond to
our assessment of the risks of material misstatement of the financial statements. The results of our audit procedures, including the d) Evaluated the adequacy of the Group’s disclosures in the financial statements concerning those key assumptions to which
procedures performed to address the matters below, provide the basis of our audit opinion on the accompanying financial statements. the outcome of the impairment assessment is most sensitive.
Review of costing of finished goods inventories Information other than the financial statements and auditors’ report thereon
(Refer to Note 4.16, 7.2(a) and Note 24 to the financial statements)
The directors of the Company are responsible for the other information. The other information comprises the information included in
As at 31 August 2021, the Group held RM865.2 million of finished goods inventories. This represented 9% of total assets of the the Integrated Annual Report, but does not include the financial statements of the Group and of the Company and our auditors’ report
thereon.
Group. Total cost of inventories relating to finished goods charged to the consolidated income statement for the year ended
31 August 2021 amounted to RM5.3 billion, accounting for 81% of total expenditure (comprises of cost of sales, distribution and
Our opinion on the financial statements of the Group and of the Company does not cover the other information and we do not
selling costs and administrative and general expenses) of the Group.
express any form of assurance conclusion thereon.

The finished goods inventories are carried at the lower of cost and net realisable value. The costs of production comprises the In connection with our audit of the financial statements of the Group and of the Company, our responsibility is to read the other
cost of purchase of raw materials, labour costs, plus conversion costs such as variable and fixed overhead costs. Significant information and, in doing so, consider whether the other information is materially inconsistent with the financial statements of the
estimates are involved in determining the basis of allocating the costs of production to the products produced by the Group. Group and of the Company or our knowledge obtained in the audit or otherwise appears to be materially misstated.
The Group relies heavily on the information technology system (“IT system”) to ensure that the costs of raw materials, labour
costs and overhead costs are correctly allocated to the respective products. Due to the significant estimation involved in the If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are
valuation of finished goods inventories, we considered this a key area of audit focus. required to report that fact. We have nothing to report in this regard.

OUR PERFORMANCE
INDEPENDENT AUDITORS’ REPORT INDEPENDENT AUDITORS’ REPORT

to the members of Top Glove Corporation Bhd. (Incorporated in Malaysia) (cont’d) to the members of Top Glove Corporation Bhd. (Incorporated in Malaysia) (cont’d)
Responsibilities of the directors for the financial statements Auditors’ responsibilities for the audit of the financial statements (cont’d)
The directors of the Company are responsible for the preparation of financial statements of the Group and of the Company that We communicate with the directors regarding, among other matters, the planned scope and timing of the audit and significant
give a true and fair view in accordance with Malaysian Financial Reporting Standards, International Financial Reporting Standards audit findings, including any significant deficiencies in internal control that we identify during our audit.
and the requirements of the Companies Act 2016 in Malaysia. The directors are also responsible for such internal control as the
directors determine is necessary to enable the preparation of financial statements of the Group and of the Company that are free We also provide the directors with a statement that we have complied with relevant ethical requirements regarding independence,
from material misstatement, whether due to fraud or error. and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence,
and where applicable, actions taken to eliminate threats or safeguards applied.
In preparing the financial statements of the Group and of the Company, the directors are responsible for assessing the Group’s
and the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using From the matters communicated with the directors, we determine those matters that were of most significance in the audit of the
the going concern basis of accounting unless the directors either intend to liquidate the Group or the Company or to cease financial statements of the Group and of the Company for the current year and are therefore the key audit matters. We describe
operations, or have no realistic alternative but to do so. these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or when, in extremely
rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences
Auditors’ responsibilities for the audit of the financial statements of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
Our objectives are to obtain reasonable assurance about whether the financial statements of the Group and of the Company REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with In accordance with the requirements of the Companies Act 2016 in Malaysia, we report that the subsidiaries of which we have
approved standards on auditing in Malaysia and International Standards on Auditing will always detect a material misstatement not acted as auditors are disclosed in Note 19 to the financial statements.
when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they
could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. OTHER MATTERS

As part of an audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing, we This report is made solely to the members of the Company, as a body, in accordance with Section 266 of the Companies Act
exercise professional judgement and maintain professional scepticism throughout the audit. We also: 2016 in Malaysia and for no other purpose. We do not assume responsibility to any other person for the content of this report.
• Identify and assess the risks of material misstatement of the financial statements of the Group and of the Company,
whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence
that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control. Ernst & Young PLT Ng Kim Ling
202006000003 (LLP0022760-LCA) & AF 0039 No. 03236/04/2022 J
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate Chartered Accountants Chartered Accountant
in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s and of the
Company’s internal control. Kuala Lumpur, Malaysia
27 October 2021
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related
disclosures made by the directors.
• Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit
evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt
on the Group’s or the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists,
we are required to draw attention in our auditors’ report to the related disclosures in the financial statements of the Group
and of the Company or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Group or the
Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial statements of the Group and of the Company,
including the disclosures, and whether the financial statements of the Group and of the Company represent the underlying
transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within
the Group to express an opinion on the financial statements of the Group. We are responsible for the direction, supervision
and performance of the group audit. We remain solely responsible for our audit opinion.

OUR PERFORMANCE
STATEMENTS OF PROFIT OR LOSS STATEMENTS OF COMPREHENSIVE INCOME

For the financial year ended 31 August 2021 For the financial year ended 31 August 2021
Group Company Group Company

2021 2020 2021 2020 2021 2020 2021 2020
Note RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Revenue 8 16,361,443 7,237,427 6,493,369 1,636,614 Profit net of tax 7,823,992 1,788,830 6,461,350 1,637,122
Cost of sales (5,259,336) (4,387,010) - -
Other comprehensive (loss)/income:
Gross profit 11,102,107 2,850,417 6,493,369 1,636,614
Items that may be reclassified
Other items of income subsequently to profit or loss:
Interest income 9 61,575 23,889 24,818 9,741 Net movement on debt securities at fair value through
other comprehensive income (Note 35) 1,844 (2,084) 144 -
Other income 10 83,311 33,116 4,475 7
Cash flow hedge (Note 35) 2,690 77,601 - -
Other items of expense Foreign currency translation differences of foreign
Distribution and selling costs (253,652) (155,021) - - operations (21,075) (7,521) - -
Administrative and general expenses (957,985) (551,023) (57,264) (9,016) Other comprehensive (loss)/income for the year,
Finance costs (4,187) (34,399) (16) (7) net of tax (16,541) 67,996 144 -
Total comprehensive income for the year 7,807,451 1,856,826 6,461,494 1,637,122
Share of results of an associate 2,644 (1,428) - -
Profit before tax 11 10,033,813 2,165,551 6,465,382 1,637,339 Total comprehensive income attributable to:
Income tax expense 14 (2,209,821) (376,721) (4,032) (217) Owners of the parent 7,695,240 1,821,022 6,461,494 1,637,122
Profit net of tax 7,823,992 1,788,830 6,461,350 1,637,122 Holders of Perpetual Sukuk 51,350 25,605 - -
Non-controlling interests 60,861 10,199 - -
Profit attributable to:
7,807,451 1,856,826 6,461,494 1,637,122
Owners of the parent 7,710,327 1,752,584 6,461,350 1,637,122
Holders of Perpetual Sukuk 51,350 25,605 - -
Non-controlling interests 62,315 10,641 - -
7,823,992 1,788,830 6,461,350 1,637,122
Earnings per share attributable to owners

of the parent (sen):
Before issuance of bonus shares
- Basic 15 95.91 67.60
- Diluted 15 95.83 67.28
After issuance of bonus shares

- Basic 15 95.91 21.88
- Diluted 15 95.83 21.78
The accompanying accounting policies and explanatory notes form an integral part of the financial statements. The accompanying accounting policies and explanatory notes form an integral part of the financial statements.

OUR PERFORMANCE
STATEMENT OF FINANCIAL POSITION (GROUP) STATEMENT OF FINANCIAL POSITION (GROUP)

As at 31 August 2021 (cont’d)
As at 31 August 2021
2021 2020 2021 2020

Note RM’000 RM’000 Note RM’000 RM’000
Assets Non-current liabilities

Loans and borrowings 29 146,002 226,340
Non-current assets
Lease liabilities 32 18,127 9,672
Property, plant and equipment 16 3,958,715 3,010,233
Deferred tax liabilities 21 191,200 141,988
Right-of-use assets 17 210,649 201,425
Provisions 8,448 4,557
Investment properties 18 227,400 163,900
363,777 382,557
Investment in an associate 20 13,069 10,425
Deferred tax assets 21 17,073 19,589 Total liabilities 2,562,264 2,515,081
Biological assets 574 28
Net assets 7,220,160 6,190,883
Investment securities: Unquoted investments 22 392 392
Intangible assets 23 1,008,795 1,012,319 Equity attributable to owners of the parent
5,436,667 4,418,311
Share capital 33 1,841,654 1,675,704
Current assets Treasury shares 34 (1,413,274) (1,519)
Inventories 24 1,144,705 530,729 Other reserves 35 101,663 65,040
Trade and other receivables 25 566,299 798,805 Retained earnings 37 5,342,360 3,131,530
Other current assets 26 118,174 74,884 5,872,403 4,870,755
Tax recoverable 5,803 - Perpetual Sukuk 36 1,295,262 1,295,262
Investment securities: Money market funds 22 1,323,297 1,674,631 Non-controlling interests 52,495 24,866
Investment securities: Debt securities 22 306,622 - Total equity 7,220,160 6,190,883
Derivative financial instruments 27 2,411 45
Total equity and liabilities 9,782,424 8,705,964
Cash and bank balances 28 878,446 1,208,559
4,345,757 4,287,653
Total assets 9,782,424 8,705,964
Equity and liabilities
Current liabilities
Loans and borrowings 29 312,704 314,199
Trade and other payables 30 692,361 810,824
Contract liabilities 31 737,627 879,386
Lease liabilities 32 5,542 1,442
Income tax payable 450,023 126,673
Derivative financial instruments 27 230 -
2,198,487 2,132,524
Net current assets 2,147,270 2,155,129
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.

194
Assets
Net assets
Total equity
Total assets
Share capital
Other reserves
Lease liabilities
Lease liabilities
Total liabilities
Treasury shares
Current assets
Current liabilities
Retained earnings
Income tax payable
Right-of-use assets
Net current assets

Other current assets
Non-current assets
Non-current liability
Equity and liabilities
Cash and bank balances
Trade and other payables

Investment in subsidiaries
Total equity and liabilities

Trade and other receivables
OUR PERFORMANCE
TOP G L O V E C O R P ORAT ION BHD

Investment securities: Debt securities
Investment securities: Money market funds
Equity attributable to owners of the Company
37
35
34
33
32
32
30
28
22
22
26
25
17
19
Note
2,980,314
2,955,175
2,492,055
34,740
1,841,654
2,955,175
25,139
292
921,700
24,847
1,713
74
23,060
2,980,314
946,547
5,555
97,307
578,568
3,432
261,685
2,033,767
357
2,033,410
RM’000
2021
(1,413,274)
STATEMENT OF FINANCIAL POSITION (COMPANY)
3,190,501
3,187,273
1,507,769
5,319
1,675,704
3,187,273
3,228
366
1,569,549
2,862
219
72
2,571
3,190,501
1,572,411
257,481
-
709,075
11
605,844
1,618,090
434
1,617,656
RM’000
2020
(1,519)
Attributable to owners of the parent

Total equity Non-distributable Distributable Non-
attributable to controlling
Total owners of the Share Treasury Other Retained Perpetual interests
2021 equity of parent capital shares reserves earnings Sukuk (“NCI”)
Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Opening balance at 1 September 2020 6,190,883 4,870,755 1,675,704 (1,519) 65,040 3,131,530 1,295,262 24,866
Profit net of tax 7,823,992 7,710,327 - - - 7,710,327 51,350 62,315

Other comprehensive loss (16,541) (15,087) - - (15,087) - - (1,454)
Total comprehensive income 7,807,451 7,695,240 - - (15,087) 7,710,327 51,350 60,861
Transactions with owners

Issuance of ordinary shares pursuant to
Employee Share Options Scheme (“ESOS”)
For the financial year ended 31 August 2021
(Note 38) 58,061 58,061 58,061 - - - - -

Issuance of ordinary shares pursuant
to conversion of exchangeable bonds 104,387 104,387 104,387 - - - - -
Share options granted under ESOS (Note 35) 33,983 33,983 - - 33,983 - - -
Issuance of shares to NCI 300 - - - - - - 300
Transfer from share option reserve
(Note 33 and Note 35) - - 4,002 - (4,706) 704 - -
Transfer from retained earnings (Note 35) - - - - 4,952 (4,952) - -
Transfer to legal reserve (Note 35) - - - - 17,481 (17,481) - -
Transfer to Employee Share Grant Plan
(“ESGP”) (Note 34) 8,641 8,641 - 12,340 - (3,699) - -
Transaction cost (2,010) (2,010) (500) (1,510) - - - -
STATEMENTS OF CHANGES IN EQUITY
Purchase of treasury shares (Note 34) (1,422,585) (1,422,585) - (1,422,585) - - - -

Distribution to holders of Perpetual Sukuk (51,350) - - - - - (51,350) -
Dividends on NCI (33,532) - - - - - - (33,532)
Dividends on ordinary shares (Note 46) (5,474,069) (5,474,069) - - - (5,474,069) - -
Total transactions with owners (6,778,174) (6,693,592) 165,950 (1,411,755) 51,710 (5,499,497) (51,350) (33,232)
Closing balance at 31 August 2021 7,220,160 5,872,403 1,841,654 (1,413,274) 101,663 5,342,360 1,295,262 52,495
I N TEG RAT E D A NNUA L RE P O RT 2 0 2 1
195
OUR PERFORMANCE
STATEMENTS OF CHANGES IN EQUITY STATEMENTS OF CHANGES IN EQUITY

For the financial year ended 31 August 2021 (cont’d) For the financial year ended 31 August 2021 (cont’d)
(442)
(2,466)
(2,391)
Non-distributable Distributable
Non-
controlling
interests
(“NCI”)
RM’000
17,058
10,641
10,199
-
-
75
-
-
-
-
-
-
24,866
Total Share Treasury Other Retained
2021 equity capital shares reserves earnings
Company RM’000 RM’000 RM’000 RM’000 RM’000
(25,605)
Perpetual
Sukuk
RM’000
25,605
-
25,605
-
-
-
-
-
-
-
Opening balance at 1 September 2020
1,295,262
-
-
1,269,657
1,295,262
3,187,273 1,675,704 (1,519) 5,319 1,507,769
Profit net of tax 6,461,350 - - - 6,461,350

Other comprehensive income 144 - - 144 -
Total comprehensive income 6,461,494 - - 144 6,461,350
(1,848)
(371,804)
(372,598)
Distributable
Retained
earnings
RM’000
1,751,544
1,752,584
-
1,752,584
-
-
-
188
866
-
-
-
-
3,131,530
ESOS (Note 38) 58,061 58,061 - - -
(1,570)
(11,080)
(1,828)
conversion of exchangeable bonds 104,387 104,387 - - -
Other
reserves
RM’000
-
68,438
68,438
-
7,404
-
1,848
-
-
-
-
-
-
65,040
Attributable to owners of the parent
Share options granted under ESOS (Note 35) 33,983 - - 33,983 -

(Note 33 and Note 35) - 4,002 - (4,706) 704
Non-distributable
Purchase of treasury shares (Note 34) (1,422,585) - (1,422,585) - -

(1,781)
(1,519)
Treasury
shares
RM’000
-
-
-
-
-
-
-
-
262
-
-
-
-
-
262
Transaction cost (2,010) (500) (1,510) - -
Transfer to ESGP (Note 34) 8,641 - 12,340 - (3,699)
Dividends on ordinary shares (Note 46) (5,474,069) - - - (5,474,069)
Total transactions with owners (6,693,592) 165,950 (1,411,755) 29,277 (5,477,064)
(417)
Share
capital
RM’000
788,326
-
-
-
167,230
709,673
-
-
10,892
-
-
-
-
-
887,378
1,675,704
Closing balance at 31 August 2021 2,955,175 1,841,654 (1,413,274) 34,740 2,492,055
(417)
(371,804)
Non-distributable Distributable
Total equity
attributable to
Total owners of the
of parent
RM’000
2,536,519
1,752,584
68,438
1,821,022
167,230
709,673
7,404
-
-
-
1,128
-
-
-
513,214
4,870,755
Total Share Treasury Other Retained

2020 equity capital shares reserves earnings
Company RM’000 RM’000 RM’000 RM’000 RM’000
(417)
(25,605)
(2,466)
(371,804)
167,230
709,673
equity
RM’000
2,553,577
7,404
1,788,830
75
-
67,996
-
1,856,826
1,128
1,295,262
1,780,480
6,190,883
Opening balance at 1 September 2019 1,036,937 788,326 (1,781) 8,995 241,397
Total comprehensive income 1,637,122 - - - 1,637,122

ESOS (Note 38) 167,230 167,230 - - -
Employee Share Options Scheme ("ESOS")
Share options granted under ESOS (Note 35)

Distribution to holders of Perpetual Sukuk
Transfer from retained earnings (Note 35)
Opening balance at 1 September 2019
conversion of exchangeable bonds 709,673 709,673 - - -

Transfer to Employee Share Grant Plan
Dividends on ordinary shares (Note 46)

Issuance of Perpetual Sukuk (Note 36)
conversion of exchangeable bonds
Share options granted under ESOS (Note 35) 7,404 - - 7,404 -

Closing balance at 31 August 2020
Other comprehensive income/(loss)
Transfer from share option reserve (Note 33

Total transactions with owners
and Note 35) - 10,892 - (11,080) 188

Total comprehensive income
Transaction cost (417) (417) - - -

Issuance of shares to NCI
(Note 33 and Note 35)
Transfer to ESGP (Note 34) 1,128 - 262 - 866

("ESGP") (Note 34)
Dividends on ordinary shares (Note 46) (371,804) - - - (371,804)

Dividends on NCI
Total transactions with owners 513,214 887,378 262 (3,676) (370,750)

Transaction cost
Profit net of tax
Closing balance at 31 August 2020 3,187,273 1,675,704 (1,519) 5,319 1,507,769

(Note 38)
Group
2020

OUR PERFORMANCE
STATEMENTS OF CASH FLOWS STATEMENTS OF CASH FLOWS

For the financial year ended 31 August 2021 (cont’d)
Group Company Group Company

2021 2020 2021 2020 2021 2020 2021 2020
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Operating activities Operating cash flows before changes in working

Profit before tax 10,033,813 2,165,551 6,465,382 1,637,339 capital 10,463,110 2,447,323 (33,590) (2,034)
Adjustments for: Changes in working capital
Gross dividends - - (6,483,958) (1,630,710) Inventories (727,243) 100,071 - -
Depreciation of property, plant and equipment Receivables 233,172 39,073 146,662 7,629
(Note 16) 296,718 237,352 - - Other current assets (43,290) (11,373) (3,421) 2,603
Depreciation of right-of-use assets (Note 17) 8,215 4,361 77 33 Payables (112,788) 318,112 20,489 1,029
Amortisation of intangible assets (Note 23) 3,731 3,683 - - Contract liabilities (141,759) 823,776 - -
Loss on disposal of property, plant and equipment 2 353 - - Total changes in working capital (791,908) 1,269,659 163,730 11,261
Net gain from fair value remeasurement of investment Cash flows generated from operations 9,671,202 3,716,982 130,140 9,227
properties (Note 18) (1,846) - - - Interest paid (4,187) (31,456) (16) -
Gain on disposal of right-of-use assets - (350) - - Income taxes (paid)/refunded (1,840,082) (229,945) (2,538) 12
Bad debts written off 124 573 - - Net cash flows generated from operating activities 7,826,933 3,455,581 127,586 9,239
Gain on disposal of debt securities (3,828) (2,845) - -
Investing activities
Net reversal of allowance for expected credit loss
(Note 25) (13) (227) - - Purchase of property, plant and equipment (1,334,018) (806,400) - -
Inventories written off 32,709 - - - Additions to investment properties (26,902) - - -
Allowance for inventories written down/(back) 80,558 (904) - - Purchase of right-of-use assets (554) (9,455) - -
Property, plant and equipment written off 44,243 20,223 - - Purchase of intangible assets (207) (32) - -
Shares granted under ESGP 8,641 1,128 142 134 Purchase of biological assets (546) (28) - -
Share options granted under ESOS 33,983 7,404 2,072 904 Placement of money market funds (2,763,264) (1,699,296) (2,730,882) (1,400,674)
Unrealised foreign exchange (gain)/loss (9,174) 786 (3,546) - Withdrawal of money market funds 3,114,598 28,729 2,861,389 691,600
Share of results of an associate (2,644) 1,428 - - Purchase of debt securities (322,604) (24,555) (97,307) -
Net fair value gain on derivative financial instruments (2,143) (1,703) - - Proceeds from disposal of debt securities 22,400 107,776 - -
Net fair value gain on investment in debt securities at Proceeds from disposal of right-of-use assets - 763 - -
fair value through profit or loss (2,591) - (929) - Net (increase)/decrease in bank balances pledged with
Finance costs 4,187 34,399 16 7 banks (365) 2,472 - -
Interest income (61,575) (23,889) (24,818) (9,741) Decrease/(increase) in monies held in debt service
reserve account 729 (17) - -
Impairment loss on investment in subsidiaries
(Note 19) - - 8,723 - Interest received 61,575 23,889 24,818 9,741
Impairment loss on other receivables - - 3,249 - Dividends from subsidiaries - - 6,483,958 1,630,710
Total adjustments 429,297 281,772 (6,498,972) (1,639,373) Proceeds from disposal of property, plant and
equipment 1,258 6,651 - -
Additions to investment in subsidiaries - - (424,477) (586,600)
Repayment from subsidiaries - - 342,690 108,418
Net cash flows (used in)/generated from investing
activities (1,247,900) (2,369,503) 6,460,189 453,195

OUR PERFORMANCE
STATEMENTS OF CASH FLOWS STATEMENTS OF CASH FLOWS

Group Company
366
23,669
458,706
31 August
2021
RM’000
438
11,114
540,539
31 August
2020
RM’000
2021 2020 2021 2020
RM’000 RM’000 RM’000 RM’000
Financing activities
(263)
(4,585)
(784)
(70,124)
-
Foreign
exchange
movement
RM’000
-
Foreign
exchange
movement
RM’000
Proceeds from issuance of ordinary shares
pursuant to ESOS 58,061 167,230 58,061 167,230
Transaction cost (2,010) (417) (2,010) (417)
Dividends paid on ordinary shares (Note 46) (5,474,069) (371,804) (5,474,069) (371,804)
(104,387)
(709,673)
-
-
Equity
component of
exchangeable
bonds
RM’000
-
-
Equity
component of
exchangeable
bonds
RM’000
Dividends paid on NCI (33,532) (2,466) - -
Non-cash changes
Issuance of shares to NCI 300 75 - -
Repayment of loans and borrowings (356,670) (1,196,819) - -
Non-cash changes
Drawdown of loans and borrowings 383,809 94,662 - -
-
8,754
-
New
leases
RM’000
467
77
Proceeds from issuance of Perpetual Sukuk
-
New
leases
RM’000
- 1,295,262 - -
Distribution paid to holders of Perpetual Sukuk (51,350) (25,605) - -
Movements
Payment of principal portion of lease liabilities (4,264) (2,237) (72) (36)
Purchase of treasury shares (1,422,585) - (1,422,585) -
-
8,328
-
Adjustment
for lease
modification
RM’000
7
518
33,881
Interest
cost
RM’000
Movements
Net cash flows used in financing activities (6,902,310) (42,119) (6,840,675) (205,027)
Net (decrease)/increase in cash and cash

equivalents (323,277) 1,043,959 (252,900) 257,407
(11)
(31,445)
16
683
3,504
Interest
cost
RM’000
-
Interest
paid
RM’000
Effect of changes in foreign exchange rate (6,472) 1,273 974 -
Cash and cash equivalents at
Cash flows
1 September 2020/2019 1,204,947 159,715 257,481 74
Cash and cash equivalents at 31 August (Note 28) 875,198 1,204,947 5,555 257,481
(16)
(683)
(3,504)
(36)
(2,237)
(1,102,157)
Interest
paid
RM’000
Principal
movement
RM’000
Cash flows
Reconciliation of liabilities arising from financing activities
(72)
(4,264)
27,139
Principal
movement
RM’000
-
13,551
2,420,057
1 September
2019
RM’000
438
11,114
540,539
1 September
2020
RM’000
Loans and borrowings (Note 29)

Loans and borrowings (Note 29)
Lease liabilities (Note 32)


Company
Company
Group
Group
2020
2021
(a)


OUR PERFORMANCE
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS

1. CORPORATE INFORMATION 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Top Glove Corporation Bhd. (“the Company”) is a public limited liability company incorporated and domiciled in Malaysia, 4.1 Business combinations and goodwill
and is listed on the Main Market of Bursa Malaysia Securities Berhad and Singapore Exchange Securities Trading Limited.
The principal place of business of the Company is located at Level 21, Top Glove Tower, 16, Persiaran Setia Dagang, Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as
Setia Alam, Seksyen U13, 40170 Shah Alam, Selangor.
the aggregate of the consideration transferred, measured at acquisition date fair value and the amount of any non-
controlling interest in the acquiree. For each business combination, the Group elects whether it measures the non-
The principal activities of the Company are investment holding and provision of management services. The principal
activities of the subsidiaries are described in Note 19. There have been no significant changes in the nature of the principal controlling interest in the acquiree either at fair value or at the proportionate share of the acquiree’s identifiable net
activities during the financial year. assets. Acquisition-related costs are expensed as incurred and included in administrative expenses.
The Group determines that it has acquired a business when the acquired set of activities and assets include an input
2. BASIS OF PREPARATION and a substantive process that together significantly contribute to the ability to create outputs. The acquired process
is considered substantive if it is critical to the ability to continue producing outputs, and the inputs acquired include
The financial statements of the Group and of the Company have been prepared in accordance with Malaysian Financial an organised workforce with the necessary skills, knowledge, or experience to perform that process or if significantly
Reporting Standards (“MFRS”) as issued by the Malaysian Accounting Standards Board (“MASB”), International Financial contributes to the ability to continue producing outputs and is considered unique or scarce or cannot be replaced
Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board and the requirements of the without significant cost, effort, or delay in the ability to continue producing outputs.
Companies Act 2016 in Malaysia.
When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate
The financial statements have also been prepared on a historical basis, unless otherwise indicated in the accounting
classification and designation in accordance with the contractual terms, economic circumstances and pertinent
policies below.
conditions as at the acquisition date. This includes the separation of embedded derivatives in host contracts by the
The financial statements are presented in Ringgit Malaysia (“RM”) and all values are rounded to the nearest thousand acquiree.
(“RM’000”) except when otherwise indicated.
If the business combination is achieved in stages, any previously held equity interests in the acquiree are re-measured
to fair value at the acquisition date with any corresponding gain or loss recognised in profit or loss.
3. BASIS OF CONSOLIDATION
Any excess of the cost of business combination, as the case may be, over the net amount of the fair value of
The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as at identifiable assets acquired and liabilities assumed is recognised as goodwill. For business combinations, provisions
31 August 2021. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with are made for the acquiree’s contingent liabilities existing at the date of acquisition as the Group deems that it is
the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group controls probable that an outflow of resources embodying economic benefits will be required to settle the obligations.
an investee if, and only if, the Group has:
Any excess in the Group’s interest in the net fair value of the identifiable assets acquired and liabilities assumed over
- Power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee);
- Exposure, or rights, to variable returns from its involvement with the investee; and the cost of business combination is recognised immediately in profit or loss.
- The ability to use its power over the investee to affect its returns.
Any contingent consideration to be transferred by the acquirer will be recognised at fair value at the acquisition date.
When the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within
and circumstances in assessing whether it has power over an investee, including: equity. Contingent consideration classified as an asset or liability that is a financial instrument and within the scope
of MFRS 9 Financial Instruments, is measured at fair value with the changes in fair value recognised in the statement
- The contractual arrangement with the other vote holders of the investee; of profit or loss in accordance with MFRS 9. Other contingent consideration that is not within the scope of MFRS 9 is
- Rights arising from other contractual arrangements; and measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
- The Group’s voting rights and potential voting rights.
Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the
The Group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes
amount recognised for non-controlling interests, and any previous interest held, over the net identifiable assets
to one or more of the three elements of control. Consolidation of a subsidiary begins when the Group obtains control over
the subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a acquired and liabilities assumed. If the fair value of the net assets acquired is in excess of the aggregate consideration
subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the transferred, the Group re-assesses whether it has correctly identified all of the assets acquired and all of the liabilities
Group gains control until the date the Group ceases to control the subsidiary. assumed and reviews the procedures used to measure the amounts to be recognised at the acquisition date. If the
re-assessment still results in an excess of the fair value of net assets acquired over the aggregate consideration
Profit or loss and each component of other comprehensive income (“OCI”) are attributed to the equity holders of the parent transferred, then the gain is recognised in profit or loss.
of the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance.
When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies in line After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of
with the Group’s accounting policies. All intra-group assets and liabilities, equity, income, expenses, unrealised gains and impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the
losses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation. Group’s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets
or liabilities of the acquiree are assigned to those units.
A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.
If the Group loses control over a subsidiary, it derecognises the related assets (including goodwill), liabilities, non-controlling
interest and other components of equity, while any resultant gain or loss is recognised in profit or loss. Any investment
retained is recognised at fair value.

OUR PERFORMANCE

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
4.1 Business combinations and goodwill (cont’d) 4.4 Investment in an associate (cont’d)
Where goodwill has been allocated to a cash-generating unit and part of the operation within that unit is disposed The Group’s investment in an associate is accounted for using the equity method. Under the equity method, the
of, the goodwill associated with the disposed operation is included in the carrying amount of the operation when investment in an associate is measured in the consolidated statement of financial position at cost plus post-acquisition
determining the gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the relative changes in the Group’s share of net assets of the associate. Goodwill relating to associate is included in the carrying
values of the disposed operation and the portion of the cash-generating unit retained. amount of the investment. Any excess of the Group’s share of the net fair value of the associate’s identifiable assets,
liabilities and contingent liabilities over the cost of the investment is excluded from the carrying amount of the
Business combinations involving entities under common control are accounted for by applying the pooling on interest investment and is instead included as income in the determination of the Group’s share of the associate’s profit or
method. The assets and liabilities of the combining entities are reflected at their carrying amounts reported in the loss for the period in which the investment is acquired.
consolidated financial statements of the controlling holding company. Any difference between the consideration paid
and the share capital of the entity acquired is reflected within equity as merger reserve. The statement of comprehensive When the Group’s share of losses in an associate equals or exceeds its interest in the associate, the Group does not
income reflects the results of the combining entities for the full year, irrespective of when the combination takes place. recognise further losses, unless it has incurred obligations or made payments on behalf of the associate.
Comparatives are presented as if the entities have always been combined since the date the entities had come under
common control. After application of the equity method, the Group determines whether it is necessary to recognise an impairment
loss on its investment in its associate. The Group determines at each reporting date whether there is any objective
4.2 Transactions with non-controlling interests evidence that the investment in the associate is impaired. If this is such evidence, the Group calculates the amount of
impairment as the difference between the recoverable amount of the associate and its carrying value and recognises
Non-controlling interests represent the equity in subsidiaries not attributable, directly or indirectly, to owners of the the loss within share of profit of an associate in the consolidated statement of profit or loss.
Company, and is presented separately in the consolidated statement of profit or loss, consolidated statement of
comprehensive income and within equity in the consolidated statement of financial position, separately from equity The financial statements of the associate are prepared as of the same reporting date as the Group unless it is
attributable to owners of the Company. impracticable to do so. When the financial statements of the associate used in applying the equity method are
prepared as of a different reporting date from that of the Group, adjustments are made for the effects of significant
Changes in the Company’s interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions or events that occur between that date and the reporting date of the Group. When necessary, adjustments
transactions. In such circumstances, the carrying amounts of the controlling and non-controlling interests are adjusted are made to bring the accounting policies in line with those of the Group.
to reflect the changes in their relative interests in the subsidiary. Any difference between the amount by which the
non-controlling interests are adjusted and the fair value of the consideration paid or received is recognised directly in 4.5 Intangible assets
equity and attributed to owners of the parent.
Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired
4.3 Investment in subsidiaries in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets
are carried at cost less any accumulated amortisation and accumulated impairment losses. Internally generated
A subsidiary is an entity over which the Group has all the following: intangibles, excluding capitalised development costs, are not capitalised and the related expenditure is reflected in
profit or loss in the period in which the expenditure is incurred.
(i) Power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the
investee); The useful lives of intangible assets are assessed as either finite or indefinite.
(ii) Exposure, or rights, to variable returns from its involvement with the investee; and Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever
there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method
(iii) The ability to use its power over the investee to affect its returns. for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the
expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are
In the Company’s separate financial statements, investment in subsidiaries is accounted for at cost less impairment considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting
losses. On disposal of such investment, the difference between net disposal proceeds and the carrying amount is estimates. The amortisation expense on intangible assets with finite lives is recognised in the statement of profit or
included in profit or loss. loss in the expense category that is consistent with the function of the intangible assets.
4.4 Investment in an associate Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually, either individually
or at the cash-generating unit level. The assessment of indefinite life is reviewed annually to determine whether the
An associate is an entity over in which the Group has significant influence. Significant influence is the power to indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made on a
participate in the financial and operating policy decisions of the investee, but is not control or joint control over those prospective basis.
policies. An associate is equity accounted for from the date the Group obtains significant influence until the date the
Group ceases to have significant influence over the associate. An intangible asset is derecognised upon disposal (i.e. at the date the recipient obtains control) or when no future
economic benefits are expected from its use or disposal. Any gain or loss arising upon derecognition of the asset
(calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in
the statement of profit or loss.

OUR PERFORMANCE

4.5 Intangible assets (cont’d) 4.7 Fair value measurement
(a) Customer relationships Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. The fair value measurement is based on the presumption that
The cost of customer relationships acquired in a business combination is measured at their fair value at the date the transaction to sell the asset or transfer the liability takes place either:
of acquisition. Following the initial recognition, they are carried at cost less accumulated amortisation and any
accumulated impairment losses. - In the principal market for the asset or liability; or
- In the absence of a principal market, in the most advantageous market for the asset or liability.
The customer relationships are amortised on a straight line basis over its estimated economic useful lives of
eleven years and assessed for impairment whenever there is an indication that the customer relationships may The principal or the most advantageous market must be accessible to by the Group.
be impaired.
The fair value of an asset or a liability is measured using the assumptions that market participants would use when
(b) Patents pricing the asset or liability, assuming that market participants act in their economic best interest.
The Group does not recognise internally generated brands, licenses and other similar intellectual property A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate
which cannot be distinguished from the cost of developing the Group’s business as a whole. economic benefits by using the asset in its highest and best use or by selling it to another market participant that
would use the asset in its highest and best use.
Acquired patents are recognised as an asset and initially measured at cost, which is the fair value of the
consideration paid. After initial recognition, patents are measured at cost less accumulated amortisation and The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are
accumulated impairment losses. Amortisation is recognised in profit or loss on a straight line basis over the available, are used to measure fair value, maximising the use of relevant observable inputs and minimising the use of
estimated economic useful lives of the patents. unobservable inputs.
4.6 Current versus non-current classification All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised
within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value
The Group and the Company present assets and liabilities in the statements of financial position based on current/ measurement as a whole:
non-current classification. An asset is current when it is:
Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities
- Expected to be realised or intended to be sold or consumed in the normal operating cycle; Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is
- Held primarily for the purpose of trading; directly or indirectly observable
- Expected to be realised within twelve months after the reporting period; or Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is
- Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve unobservable
months after the reporting period.
For assets and liabilities that are recognised in the financial statements on a recurring basis, the Group determines
All other assets are classified as non-current. whether transfers have occurred between levels in the hierarchy by re-assessing categorisation (based on the lowest
level input that is significant to the fair value measurement as a whole) at the end of each reporting period.
A liability is current when:
Policies and procedures are determined by senior management for both recurring fair value measurement and for
- It is expected to be settled in the normal operating cycle; non-recurring measurement.
- It is held primarily for the purpose of trading;
- It is due to be settled within twelve months after the reporting period; or External valuers are involved for valuation of significant assets and significant liabilities. Involvement of external
- There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting valuers is decided by senior management. Selection criteria include market knowledge, reputation, independence
period. and whether professional standards are maintained. The senior management decides, after discussions with the
external valuers, which valuation techniques and inputs to use for each case.
The Group and the Company classify all other liabilities as non-current.
At each reporting date, the senior management analyses the movements in the values of assets and liabilities which
Deferred tax assets and liabilities are classified as non-current assets and liabilities. are required to be re-measured or re-assessed as per the Group’s accounting policies. For this analysis, the senior
management verifies the major inputs applied in the latest valuation by agreeing the information in the valuation
computation to contracts and other relevant documents.
The senior management, in conjunction with the external valuers, also compares the changes in the fair value of each
asset and liability with relevant external sources to determine whether the change is reasonable.
For the purpose of fair value disclosures, the Group has determined classes of assets and liabilities on the basis of the
nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

OUR PERFORMANCE

4.8 Foreign currencies 4.9 Revenue and other income recognition (cont’d)
(a) Functional and presentation currency (a) Sale of goods
The Group’s consolidated financial statements are presented in RM which is also the parent company’s The Group is involved in manufacturing and trading of gloves.
functional currency. For each entity, the Group determines the functional currency and items included in the
financial statements of each entity are measured using that functional currency. Revenue is recognised at point in time upon transfer of control of the goods to the customers. Revenue is not
recognised to the extent where there are significant uncertainties regarding recovery of the consideration due,
(b) Transactions and balances associated costs or the possible return of goods.
Transactions in foreign currencies are initially recorded by the Group entities at the functional currency spot The amount of revenue recognised is based on the estimated transaction price, which comprises the contractual
rates at the date the transaction first qualifies for recognition. Monetary assets and liabilities denominated in price, net of the estimated volume rebates. Based on the Group’s experience with similar types of contracts,
foreign currencies are translated at the functional currency spot rates at the reporting date. variable consideration is typically constrained and is included in the transaction only to the extent that it is a
highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur when
Differences arising on settlement or translation of monetary items are recognised in profit or loss with the the uncertainty associated with the variable consideration is subsequently resolved.
exception of monetary items that are designated as part of the hedge of the Group’s net investment of a
foreign operation. These are recognised in foreign exchange reserve OCI until the net investment is disposed (b) Dividend income
of, at which time, the cumulative amount is reclassified to profit or loss. Tax charges and credits attributable to
exchange differences on those monetary items are also recorded in OCI. Dividend income is recognised when the Group’s and the Company’s right to receive payment is established.
Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the (c) Management fees
exchange rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign
currency are translated using the exchange rates at the date when the fair value is determined. The gain or loss Management fees are recognised when services are rendered.
arising on translation of non-monetary items measured at fair value is treated in line with the recognition of gain
or loss on change in fair value of the item (i.e. translation differences on items whose fair value gain or loss is (d) Interest income
recognised in OCI or profit or loss are also recognised in OCI or profit or loss, respectively).
Interest income is recognised on an accrual basis using the effective interest rate method.
In determining the spot exchange rate to use on initial recognition of the related asset, expense or income
(or part of it) on the derecognition of a non-monetary asset or non-monetary liability arising from the advance (e) Rental income
consideration. If there are multiple payments or receipts in advance, the Group determines the transaction date
for each payment or receipt of advance consideration. Rental income is accounted for on a straight-line basis over the lease terms. The aggregate costs of incentives
provided to lessees are recognised as a reduction of rental income over the lease term on a straight-line basis.
(c) Group companies
4.10 Employee benefits
On consolidation, the assets and liabilities of foreign operations are translated into RM at the rate of exchange
prevailing at the reporting date and their statements of profit or loss are translated at exchange rates prevailing (a) Short term benefits
at the dates of the transactions. The exchange differences arising on translation for consolidation are recognised
in OCI. On disposal of a foreign operation, the component of OCI relating to that particular foreign operation is Wages, salaries, bonuses and social security contributions are recognised as expenses in the year in which the
recognised in profit or loss. associated services are rendered by employees. Short term accumulated compensated absences such as paid
annual leave are recognised when services are rendered by employees that increase their entitlement to future
Any goodwill arising on the acquisition of a foreign operation and any fair value adjustments to the carrying compensated absences. Short term non-accumulating compensated absences such as sick leave are recognised
amounts of assets and liabilities arising on the acquisition are treated as assets and liabilities of the foreign when the absences occur.
operation and translated at the spot rate of exchange at the reporting date.
(b) Defined contribution plans
4.9 Revenue and other income recognition
Defined contribution plans are post-employment benefit plans under which the Group and the Company pay
Revenue is recognised when the Group satisfies a performance obligation by transferring a promised good or service fixed contributions into separate entities or funds and will have no legal or constructive obligation to pay further
to the customer, which is when the customer obtains control of the good or service. A performance obligation may contributions if any of the funds do not hold sufficient assets to pay all employee benefits relating to employee
be satisfied at a point in time or over time. The amount of revenue recognised is the amount allocated to the satisfied services in the current and preceding financial years. Such contributions are recognised as an expense in profit
performance obligation. or loss as incurred. As required by law, companies in Malaysia make such contributions to the Employees
Provident Fund (“EPF”). All contributions to pension plans are fully and immediately vested and the Group had
no unvested benefits available to reduce its future contributions.

OUR PERFORMANCE

4.10 Employee benefits (cont’d) 4.11 Taxes (cont’d)
(c) Employee share options scheme (“ESOS”) (b) Deferred tax
Employees of the Group and of the Company receive remuneration in the form of share options as consideration Deferred tax is provided using the liability method on temporary differences between the tax bases of assets
for services rendered. The cost of these equity-settled transactions with employees is measured by reference to and liabilities and their carrying amounts for financial reporting purposes at the reporting date.
the fair value of the options at the date on which the options are granted. This cost is recognised in profit or loss.
The cumulative expense recognised at each reporting date until the vesting date reflects the extent to which Deferred tax liabilities are recognised for all taxable temporary differences, except:
the vesting period has expired and the Group’s and the Company’s best estimate of the number of options that
will ultimately vest. The charge or credit to profit or loss for a period represents the movement in cumulative (i) when the deferred tax liability arises from the initial recognition of goodwill or of an asset or liability in
expense recognised at the beginning and end of that period. a transaction that is not a business combination and, at the time of the transaction, affects neither the
accounting profit nor taxable profit or loss; and
No expense is recognised for options that do not ultimately vest, except for options where vesting is conditional
upon a market or non-vesting condition, which are treated as vested irrespective of whether or not the market (ii) in respect of taxable temporary differences associated with investments in subsidiaries and associate,
or non-vesting condition is satisfied, provided that all other performance and/or service conditions are satisfied. where the timing of the reversal of the temporary differences can be controlled and it is probable that the
temporary differences will not reverse in the foreseeable future.
When the options are exercised, the employee share option reserve is transferred to share capital if new shares
are issued. Deferred tax assets are recognised for all deductible temporary differences, carry forward of unused tax credits
and any unused tax losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit
The employee share option reserve is transferred to retained earnings upon forfeiture or expiry of the share will be available against which the deductible temporary differences, and the carry forward of unused tax credits
options. and unused tax losses can be utilised, except:
(d) Employee Share Grant Plan (“ESGP”) (i) when the deferred tax asset relating to the deductible temporary difference arises from the initial
recognition of an asset or liability in a transaction that is not a business combination and, at the time of
Employees of the Group and of the Company are entitled to performance based shares as consideration for the transaction, affects neither the accounting profit nor taxable profit or loss; and
services rendered. The ESGP may be settled by way of issuance or transfer of shares of the Company or by
cash at the discretion of the ESGP Committee. Trusts have been set up and are administered by an appointed (ii) in respect of deductible temporary differences associated with investments in subsidiaries and associate,
trustee (“ESGP Trusts”). The trustee will be entitled from time to time, to accept advances from the Company, deferred tax assets are recognised only to the extent that it is probable that the temporary differences
upon such terms and conditions as the Company and the trustee may agree to purchase the ordinary shares will reverse in the foreseeable future and taxable profit will be available against which the temporary
of the Company (“Trust Shares”) from the open market for the ESGP Trusts. The value of the ESGP Awards differences can be utilised.
granted to Eligible Employees is recognised as an employee cost.
The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it
The ESGP Trusts’ asset is consolidated into the Group’s consolidated financial statements. Dividends received is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to
by the ESGP Trusts are eliminated against the Company’s dividend payment. be utilised. Unrecognised deferred tax assets are re-assessed at each reporting date and are recognised to the
extent that it has become probable that future taxable profit will allow the deferred tax assets to be recovered.
4.11 Taxes
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when
(a) Current income tax the asset is realised or the liability is settled, based on tax rates and tax laws that have been enacted or
substantively enacted at the reporting date.
Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to
the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss. Deferred tax
substantively enacted, at the reporting date in the countries where the Group and the Company operate and items are recognised in correlation to the underlying transaction either in OCI or directly in equity.
generate taxable income.
The Group offsets deferred tax assets and deferred tax liabilities if and only if it has a legally enforceable right to
Current income tax relating to items recognised directly in equity is recognised in equity and not in statement of set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate
profit or loss. Management periodically evaluates positions taken in the tax returns with respect to situations in to the same taxable entity and the same taxation authority.
which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.

OUR PERFORMANCE

4.11 Taxes (cont’d) 4.14 Investment properties
(c) Sales and services tax (“SST”) Investment properties are properties which are held either to earn rental income or for capital appreciation or for both.
Investment properties are initially measured at cost, including transaction costs. Subsequent to initial recognition,
Revenue, expenses and assets are recognised net of the amount of SST, except: investment properties are measured at fair value which reflects market conditions at the reporting date. Fair value is
arrived at using the investment method that makes reference to estimated market rental values and equivalent yields,
(i) when the SST incurred on a purchase of assets or services is not recoverable from the taxation authority, or comparison method that makes reference to recent transaction prices of similar properties. Valuation is performed
in which case, the SST is recognised as part of the cost of acquisition of the assets or as part of the by accredited independent valuer having an appropriate recognised professional qualification and recent experience
expense item as applicable; and in the location and category of the properties being valued. Gains or losses arising from changes in the fair values
of investment properties are included in profit or loss in the year in which they arise, including the corresponding tax
(ii) when receivables and payables are stated with the amount of SST included. effect.
The payable amount of SST to the taxation authority is included as part of payables in the statements of Investment properties are derecognised either when they have been disposed of (i.e. at the date the recipient obtains
financial position. control) or when the investment property is permanently withdrawn from use and no future economic benefit is
expected from its disposal. The difference between the net disposal proceeds and the carrying amount of the asset
4.12 Borrowing costs is recognised in the profit or loss in the period of derecognition.
Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes Transfers are made to (or from) investment properties only when there is a change in use. For a transfer from
a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset. All investment property to owner-occupied property, the deemed cost for subsequent accounting is the fair value at the
other borrowing costs are expensed in the period they occur. Borrowing costs consist of interest and other costs that date of change in use. If owner-occupied property becomes an investment property, the Group accounts for such
an entity incurs in connection with the borrowing of funds. property in accordance with the accounting policy for property, plant and equipment set out in Note 4.13 up to the
date of change in use.
4.13 Property, plant and equipment
4.15 Leases
Capital work-in-progress is stated at cost, net of accumulated impairment loss, if any. Property, plant and equipment
is stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Such cost includes The Group and the Company assess at contract inception whether a contract is, or contains, a lease. That is, if the
the cost of replacing component parts of the property, plant and equipment and borrowing costs for long-term contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.
construction projects if the recognition criteria are met.
(a) Group as a lessee
When significant parts of property, plant and equipment are required to be replaced at intervals, the Group derecognises
the replaced part, and recognises the new part with its own associated useful life and depreciation. Likewise, when The Group and the Company apply a single recognition and measurement approach for all leases, except for
a major inspection is performed, its cost is recognised in the carrying amount of the plant and equipment as a short-term leases and leases of low-value assets. The Group and the Company recognise lease liabilities to
replacement if the recognition criteria are satisfied. All other repair and maintenance costs are recognised in the make lease payments and right-of-use assets representing the right to use the underlying assets.
profit or loss as incurred. The present value of the expected cost for the decommissioning of the asset after its use is
included in the cost of the respective asset if the recognition criteria for a provision are met. (i) Right-of-use assets
The Group and the Company recognise right-of-use assets at the commencement date of the lease
Freehold land has an unlimited useful life and therefore is not depreciated. Capital work-in-progress are not depreciated
(i.e. the date the underlying asset is available for use). Right-of-use assets are measured at cost, less
as these assets are not available for use. Depreciation is computed on a straight-line basis over the estimated useful
any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease
lives of the assets as follows:
liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct
costs incurred, and lease payments made at or before the commencement date less any lease incentives
Buildings 20 to 50 years
received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term
Plant and equipment 3 to 20 years
and the estimated useful lives of the assets, as follows:
Other assets 5 to 10 years
Leasehold lands 50 to 99 years
An item of property, plant and equipment and any significant part initially recognised is derecognised upon disposal
Buildings 20 to 50 years
(i.e. at the date the recipient obtains control) or when no future economic benefits are expected from its use or
Plant and equipment 4 to 20 years
disposal. Any gain or loss on derecognition of the asset is included in the statement of profit or loss when the asset
Other assets 5 to 10 years
is derecognised.
If ownership of the leased asset transfers to the Group and the Company by the end of the lease term or
The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each
the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful
financial year end and adjusted prospectively, if appropriate. life of the asset.
The right-of-use assets are also subject to impairment in accordance with the accounting policy set out in
Note 4.17.

OUR PERFORMANCE

4.15 Leases (cont’d) 4.17 Impairment of non-financial assets
(a) Group as a lessee (cont’d) The Group and the Company assess, at each reporting date, whether there is an indication that an asset may be
impaired. If any indication exists, or when annual impairment testing for an asset is required, the Group and the
(ii) Lease liabilities Company estimate the asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s or cash-
generating unit’s (“CGU”) fair value less costs of disposal and its value-in-use. The recoverable amount is determined
At the commencement date of the lease, the Group and the Company recognise lease liabilities measured for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from
at the present value of lease payments to be made over the lease term. The lease payments include fixed other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the
payments (including in-substance fixed payments) less any lease incentives receivable, variable lease asset is considered impaired and is written down to its recoverable amount.
payments that depend on an index or a rate, and amounts expected to be paid under residual value
guarantees. The lease payments also include the exercise price of a purchase option reasonably certain In assessing value-in-use, the estimated future cash flows are discounted to their present value using a pre-tax
to be exercised by the Group and the Company and payments of penalties for terminating the lease, if the discount rate that reflects current market assessments of the time value of money and the risks specific to the
lease term reflects the Group and the Company exercising the option to terminate. asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such
transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by
In calculating the present value of lease payments, the Group and the Company use its incremental valuation multiples, quoted share prices for publicly traded companies or other available fair value indicators.
borrowing rate at the lease commencement date because the interest rate implicit in the lease is not
readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect The Group and the Company base their impairment calculation on most recent budgets and forecast calculations,
the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of which are prepared separately for each of the Group’s and the Company’s CGUs to which the individual assets are
lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease allocated. These budgets and forecast calculations generally cover a period of five years. A long-term growth rate is
payments (e.g. changes to future payments resulting from a change in an index or rate used to determine calculated and applied to project future cash flows after the fifth year.
such lease payments) or a change in the assessment of an option to purchase the underlying asset.
Impairment losses of continuing operations, including impairment on inventories, are recognised in profit or loss in
(iii) Short-term leases and leases of low-value assets expense categories consistent with the function of the impaired asset.
The Group and the Company apply the short-term lease recognition exemption to its short-term leases Goodwill is tested for impairment annually at each reporting date and when circumstances indicate that the carrying
of hostels, ambulance, automated teller machine (“ATM”) and forklift (i.e. those leases that have a lease value may be impaired. Impairment is determined for goodwill by assessing the recoverable amount of each CGU
term of 12 months or less from the commencement date and do not contain a purchase option). It also (or group of CGUs) to which the goodwill relates. When the recoverable amount of the CGU is less than its carrying
applies the lease of low-value assets recognition exemption to leases of photocopiers that are considered amount, an impairment loss is recognised. Impairment losses relating to goodwill cannot be reversed in future periods.
to be low value. Lease payments on short-term leases and leases of low value assets are recognised as
expense on a straight-line basis over the lease term. For assets other than goodwill, an assessment is made at each reporting date to determine whether there is an
indication that previously recognised impairment losses no longer exist or have decreased. If such indication exists,
(b) Group as a lessor the recoverable amount of the asset or CGU is estimated. A previously recognised impairment loss is reversed only
if there has been a change in the assumptions used to determine the asset’s recoverable amount since the last
Leases in which the Group and the Company do not transfer substantially all the risks and rewards incidental to impairment loss was recognised. The reversal is limited so that the carrying amount of the asset does not exceed its
ownership of an asset are classified as operating leases. Rental income arising is accounted for on a straight- recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no
line basis over the lease terms and is included in revenue in the statement of profit or loss due to its operating impairment loss been recognised for the asset in prior years. Such reversal is recognised in profit or loss.
nature. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying
amount of the leased asset and recognised over the lease term on the same basis as rental income. Contingent 4.18 Financial instruments
rents are recognised as revenue in the period in which they are earned.
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
4.16 Inventories instrument of another entity.
Inventories are valued at the lower of cost and net realisable value. Costs incurred in bringing the inventories to their (a) Financial assets
present location and condition are accounted for, as follows:
Initial recognition and measurement
- Raw materials, consumables and hardware: purchase costs on a weighted average basis.
- Finished goods and work-in-progress: costs of direct materials and labour and a proportion of manufacturing Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value
overheads based on normal operating capacity, excluding borrowing costs. through OCI, or fair value through profit or loss.
Net realisable value is the estimated selling price in the ordinary course of business less estimated costs of completion
and the estimated costs necessary to make the sale.

OUR PERFORMANCE

4.18 Financial instruments (cont’d) 4.18 Financial instruments (cont’d)
(a) Financial assets (cont’d) (a) Financial assets (cont’d)
Initial recognition and measurement (cont’d) Subsequent measurement (cont’d)
The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow (ii) Financial assets at fair value through OCI (debt instruments)
characteristics and the Group’s and the Company’s business model for managing them. With the exception of
trade receivables that do not contain a significant financing component or for which the Group and the Company The Group and the Company measure debt instruments at fair value through OCI if both of the following
have applied the practical expedient, the Group and the Company initially measure a financial asset at its fair value conditions are met:
plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Trade receivables
that do not contain a significant financing component or for which the Group and the Company have applied the • The financial asset is held within a business model with the objective of both holding to collect
practical expedient are measured at the transaction price determined under MFRS 15. contractual cash flows and selling; and
• The contractual terms of the financial asset give rise on specified dates to cash flows that are solely
In order for a financial asset to be classified and measured at amortised cost or fair value through OCI, it needs payments of principal and interest on the principal amount outstanding.
to give rise to cash flows that are solely payments of principal and interest (“SPPI”) on the principal amount
outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. For debt instruments at fair value through OCI, interest income, foreign exchange revaluation and
impairment losses or reversals are recognised in the statement of profit or loss and computed in the
The Group’s and the Company’s business model for managing financial assets refers to how they manage their same manner as for financial assets measured at amortised cost. The remaining fair value changes are
financial assets in order to generate cash flows. The business model determines whether cash flows will result recognised in OCI. Upon derecognition, the cumulative fair value change recognised in OCI is recycled to
from collecting contractual cash flows, selling the financial assets, or both. profit or loss.
Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation The Group’s and the Company’s debt instruments at fair value through OCI include investments in
or convention in the market place (regular way trades) are recognised on the trade date, i.e. the date that the quoted debt securities included under other current financial assets.
Group and the Company commit to purchase or sell the asset.
(iii) Financial assets at fair value through profit or loss
Subsequent measurement
Financial assets at fair value through profit or loss include financial assets held for trading, financial assets
For purposes of subsequent measurement, financial assets are classified in four categories: designated upon initial recognition at fair value through profit or loss, or financial assets mandatorily
required to be measured at fair value. Financial assets are classified as held for trading if they are
• Financial assets at amortised cost (debt instruments); acquired for the purpose of selling or repurchasing in the near term. Derivatives, including separated
• Financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments); embedded derivatives, are also classified as held for trading unless they are designated as effective
• Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses hedging instruments. Financial assets with cash flows that are not solely payments of principal and
upon derecognition (equity instruments); and interest are classified and measured at fair value through profit or loss, irrespective of the business model.
• Financial assets at fair value through profit or loss. Notwithstanding the criteria for debt instruments to be classified at amortised cost or at fair value through
OCI, as described above, debt instruments may be designated at fair value through profit or loss on initial
The Group and the Company have no financial assets carried at fair value through OCI for equity instruments. recognition if doing so eliminates, or significantly reduces, an accounting mismatch.
(i) Financial assets at amortised cost (debt instruments) Financial assets at fair value through profit or loss are carried in the statement of financial position at fair
value with net changes in fair value recognised in the statement of profit or loss.
The Group and the Company measure financial assets at amortised cost if both of the following conditions
are met: This category includes derivative instruments which the Group had not irrevocably elected to classify at
fair value through OCI.
• The financial asset is held within a business model with the objective to hold financial assets in order
to collect contractual cash flows; and A derivative embedded in a hybrid contract, with a financial liability or non-financial host, is separated
• The contractual terms of the financial asset give rise on specified dates to cash flows that are solely from the host and accounted for as a separate derivative if: the economic characteristics and risks are not
payments of principal and interest on the principal amount outstanding. closely related to the host; a separate instrument with the same terms as the embedded derivative would
meet the definition of a derivative; and the hybrid contract is not measured at fair value through profit or
Financial assets at amortised cost are subsequently measured using the effective interest rate (“EIR”) loss. Embedded derivatives are measured at fair value with changes in fair value recognised in profit or
method and are subject to impairment. Gains and losses are recognised in profit or loss when the asset is loss. Reassessment only occurs if there is either a change in the terms of the contract that significantly
derecognised, modified or impaired. modifies the cash flows that would otherwise be required or a reclassification of a financial asset out of
the fair value through profit or loss category.
The Group’s and the Company’s financial assets at amortised cost include cash and bank balances, trade
and other receivables and other non-current financial assets.

OUR PERFORMANCE

4.18 Financial instruments (cont’d) 4.18 Financial instruments (cont’d)
(a) Financial assets (cont’d) (a) Financial assets (cont’d)
Subsequent measurement (cont’d) Impairment of financial assets (cont’d)
(iii) Financial assets at fair value through profit or loss (cont’d) For debt instruments at fair value through OCI, the Group and the Company apply the low credit risk simplification.
At every reporting date, the Group and the Company evaluate whether the debt instrument is considered to
A derivative embedded within a hybrid contract containing a financial asset host is not accounted for have low credit risk using all reasonable and supportable information that is available without undue cost or
separately. The financial asset host together with the embedded derivative is required to be classified in effort. In making that evaluation, the Group and the Company reassess the internal credit rating of the debt
its entirety as a financial asset at fair value through profit or loss. instrument. In addition, the Group and the Company consider that there has been a significant increase in credit
risk when contractual payments are more than 30 days past due.
The Group has designated derivatives that do not qualify for hedge accounting and money market funds
at fair value through profit or loss. The Group’s and the Company’s debt instruments at fair value through OCI comprise solely of quoted bonds
that are graded in the top investment category (Very Good and Good) by the Good Credit Rating Agency and,
Derecognition therefore, are considered to be low credit risk investments. It is the Group’s and the Company’s policy to
measure ECLs on such instruments on a 12-month basis. However, when there has been a significant increase
A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is in credit risk since origination, the allowance will be based on the lifetime ECL. The Group and the Company use
primarily derecognised (i.e. removed from the Group’s and the Company’s statements of financial position) when: the ratings from the Good Credit Rating Agency both to determine whether the debt instrument has significantly
increased in credit risk and to estimate ECLs.
• The rights to receive cash flows from the asset have expired; or
• The Group and the Company have transferred their rights to receive cash flows from the asset or have The Group and the Company generally consider a financial asset to be in default when contractual payments
assumed an obligation to pay the received cash flows in full without material delay to a third party under a are 120 days past due, except for certain major or specific customers where the period may extend beyond
‘pass-through’ arrangement; and either (a) the Group and the Company have transferred substantially all 120 days. In certain cases, the Group and the Company may also consider a financial asset to be in default
the risks and rewards of the asset, or (b) the Group and the Company have neither transferred nor retained when internal and external information indicates that the Group and the Company are unlikely to receive the
substantially all the risks and rewards of the asset, but have transferred control of the asset. outstanding contractual amounts in full before taking into account any credit enhancements held by the Group
and the Company. A financial asset is written off when there is no reasonable expectation of recovering the
When the Group and the Company have transferred their rights to receive cash flows from an asset or have contractual cash flows.
entered into a pass-through arrangement, they evaluate if, and to what extent, they have retained the risks
and rewards of ownership. When they have neither transferred nor retained substantially all of the risks and (b) Financial liabilities
rewards of the asset, nor transferred control of the asset, the Group and the Company continue to recognise the
transferred asset to the extent of their continuing involvement. In that case, the Group and the Company also Initial recognition and measurement
recognise an associated liability. The transferred asset and the associated liability are measured on a basis that
reflects the rights and obligations that the Group and the Company have retained. Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss,
loans and borrowings, payables, lease liabilities or as derivatives designated as hedging instruments in an
Impairment of financial assets effective hedge, as appropriate.
The Group and the Company recognise an allowance for expected credit losses (“ECLs”) for all debts instruments All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables,
not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash net of directly attributable transaction costs.
flows due in accordance with the contract and all the cash flows that the Group and the Company expect to
receive, discounted at an approximation of the original EIR. The expected cash flows will include cash flows The Group and the Company’s financial liabilities include trade and other payables, other current liabilities,
from the sales of collateral held or other credit enhancements that are integral to the contractual terms. lease liabilities, derivative financial instruments, and loans and borrowings.
ECLs are recognise in two stages. For credit exposures for which there has not been a significant increase in Subsequent measurement
credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are
possible within the next 12 months (“12-month ECL”). For those credit exposures for which there has been a The measurement of financial liabilities depends on their classification, as described below:
significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected
over the remaining life of the exposure, irrespective of the timing of the default (“lifetime ECL”). (i) Trade and other payables
For trade receivables, the Group applies simplified approach in calculating ECLs. Therefore, the Group does These are subsequently measured at amortised cost using the EIR method.
not track changes in credit risk, but instead recognise a loss allowance base on lifetime ECL at each reporting
date. The Group has established a provision matrix that is based on historical credit experience. The Group
considers forward looking factors do not have significant impact to credit risk given the nature of its industry
and the amount of ECLs is insensitive to changes to forecast economic conditions.

OUR PERFORMANCE

4.18 Financial instruments (cont’d) 4.19 Derivative financial instruments and hedging activities
(b) Financial liabilities (cont’d) Initial recognition and subsequent measurement
Subsequent measurement (cont’d) The Group uses derivative financial instruments, such as forward currency contracts to hedge its foreign currency
risks. Such derivative financial instruments are initially recognised at fair value on the date on which a derivative
The measurement of financial liabilities depends on their classification, as described below (cont’d): contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as financial assets
when the fair value is positive and as financial liabilities when the fair value is negative.
(ii) Financial liabilities at fair value through profit or loss
For the purpose of hedge accounting, hedges are classified as:
Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial
liabilities designated upon initial recognition as at fair value through profit or loss. • Fair value hedges when hedging the exposure to changes in the fair value of a recognised asset or liability or an
unrecognised firm commitment;
Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing • Cash flow hedges when hedging the exposure to variability in cash flows that is either attributable to a particular
in the near term. This category also includes derivative financial instruments entered into by the Group risk associated with a recognised asset or liability or a highly probable forecast transaction or the foreign
that are not designated as hedging instruments in hedge relationships as defined by MFRS 9. Separated currency risk in an unrecognised firm commitment; and
embedded derivatives are also classified as held for trading unless they are designated as effective • Hedges of a net investment in a foreign operation.
hedging instruments.
At the inception of a hedge relationship, the Group formally designates and documents the hedge relationship to
Gains or losses on liabilities held for trading are recognised in the statement of profit or loss. which it wishes to apply hedge accounting and the risk management objective and strategy for undertaking the
hedge.
Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at
the initial date of recognition, and only if the criteria in MFRS 9 are satisfied. The Group has designated The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being
derivative financial instruments as financial liability at fair value through profit or loss. hedged and how the Group will assess whether the hedging relationship meets the hedge effectiveness requirements
(including the analysis of sources of hedge ineffectiveness and how the hedge ratio is determined). A hedging
(iii) Financial liabilities at amortised cost relationship qualifies for hedge accounting if it meets all of the following effectiveness requirements:
This is the category most relevant to the Group and the Company. After initial recognition, interest-bearing • There is ‘an economic relationship’ between the hedged item and the hedging instrument.
loans and borrowings are subsequently measured at amortised cost using the EIR method. Gains and • The effect of credit risk does not ‘dominate the value changes’ that result from that economic relationship.
losses are recognised in profit or loss when the liabilities are derecognised as well as through the EIR • The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item
amortisation process. that the Group actually hedges and the quantity of the hedging instrument that the Group actually uses to hedge
that quantity of hedged item.
Amortised cost is calculated by taking into account any discount or premium on acquisition and fees
or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the Cash flow hedge
statement of profit or loss.
The effective portion of the gain or loss on the hedging instrument is recognised in OCI in the cash flow hedge
This category generally applies to interest-bearing loans and borrowings and lease liabilities. For more reserve, while any ineffective portion is recognised immediately in the statement of profit or loss. The cash flow hedge
information, refer to Note 29 and Note 32. reserve is adjusted to the lower of the cumulative gain or loss on the hedging instrument and the cumulative change
in fair value of the hedged item.
Derecognition
The amounts accumulated in OCI are accounted for, depending on the nature of the underlying hedged transaction.
A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. If the hedged transaction subsequently results in the recognition of a non-financial item, the amount accumulated in
When an existing financial liability is replaced by another from the same lender on substantially different terms, equity is removed from the separate component of equity and included in the initial cost or other carrying amount of
or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the hedged asset or liability. This is not a reclassification adjustment and will not be recognised in OCI for the period.
the derecognition of the original liability and the recognition of a new liability. The difference in the respective This also applies where the hedged forecast transaction of a non-financial asset or non-financial liability subsequently
carrying amounts is recognised in the statement of profit or loss. becomes a firm commitment for which fair value hedge accounting is applied.
(c) Offsetting of financial instruments For any other cash flow hedges, the amount accumulated in OCI is reclassified to profit or loss as a reclassification
adjustment in the same period or periods during which the hedged cash flows affect profit or loss.
Financial assets and financial liabilities are offset and the net amount is reported in the consolidated and separate
statement of financial position if there is a currently enforceable legal right to offset the recognised amounts and If cash flow hedge accounting is discontinued, the amount that has been accumulated in OCI must remain in accumulated
there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously. OCI if the hedged future cash flows are still expected to occur. Otherwise, the amount will be immediately reclassified to profit
or loss as a reclassification adjustment. After discontinuation, once the hedged cash flow occurs, any amount remaining in
accumulated OCI must be accounted for depending on the nature of the underlying transaction as described above.

OUR PERFORMANCE


4.20 Cash and bank balances 4.25 Contract liabilities
Cash and bank balances in the statements of financial position comprise cash at banks and on hand and short-term A contract liability is recognised if a payment is received or a payment is due (whichever is earlier) from a customer
deposits. before the Group transfers the related goods or services. Contract liabilities are recognised as revenue when the
Group performs under the contract (i.e. transfers control of the related goods or services to the customer).
For the purpose of the statements of cash flows, cash and cash equivalents consist of cash and short-term deposits
with a maturity of three months or less excluding deposits pledged with banks that are not available for use. 4.26 Contingencies
4.21 Equity instruments and related expenses A contingent liability or asset is a possible obligation or asset that arises from past events and whose existence will
be confirmed only by the occurrence or non-occurrence of uncertain future event(s) not wholly within the control of
An equity instrument is any contract that evidences a residual interest in the assets of the Group and the Company the Group and of the Company.
after deducting all of its liabilities. Ordinary shares and Perpetual Sukuk are classified as equity instruments.
Contingent liabilities and assets are not recognised in the statements of financial position of the Group and of the
Dividends on ordinary shares and distribution on Perpetual Sukuk are recognised in equity in the period in which they Company.
are declared.
4.27 Segment reporting
The transaction costs of an equity transaction are accounted for as a deduction from equity, net of tax. Equity
transaction costs comprise only those incremental external costs directly attributable to the equity transaction which For management purposes, the Group is organised into operating segments based on their geographical location
would otherwise have been avoided. which are independently managed by the respective segment managers responsible for the performance of the
respective segments under their charge. The segment managers report directly to the management of the Group
4.22 Treasury shares who regularly review the segment results in order to allocate resources to the segments and to assess the segment
performance. Additional disclosures on each of these segments are shown in Note 45, including the factors used to
Own equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from equity. No gain identify the reportable segments and the measurement basis of segment information.
or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the Group’s and the Company’s
own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognised 4.28 Biological assets
in the retained earnings.
Biological assets comprise immature planted trees and are classified as non-current assets. It is expected to be
4.23 Cash dividend and non-cash distribution to equity holders of the Company harvested and sold.
The Company recognises a liability to make cash or non-cash distributions to equity holders of the parent when Immature planted trees are reclassified to mature planted trees when they are commercially productive and available
the distribution is authorised and the distribution is no longer at the discretion of the Company. A distribution is for harvest. In general, a paulownia bearer plant takes about 3 years to reach maturity from the time of planting the
authorised when it is approved by the Board of Directors and a corresponding amount is recognised directly in equity. seedlings to the field.
Non-cash distributions are measured at the fair value of the assets to be distributed with fair value re-measurement Biological assets are measured at fair value less costs to sell. Any gains or losses arising from changes in the fair
recognised directly in equity. value less costs to sell are recognised in profit or loss.
Upon distribution of non-cash assets, any difference between the carrying amount of the liability and the carrying
amount of the assets distributed is recognised in profit or loss.
4.24 Provisions
Provisions are recognised when the Group has a present obligation (legal or constructive) as a result of a past event,
it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a
reliable estimate can be made of the amount of the obligation. When the Group expects that some or all of a provision
to be reimbursed, for example, under an insurance contract, the reimbursement is recognised as a separate asset,
but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the income
statements net of any reimbursement.
If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects,
where appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the
passage of time is recognised as a finance cost.

OUR PERFORMANCE

5. NEW AND AMENDED STANDARDS AND INTERPRETATIONS 7. SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS
The accounting policies adopted are consistent with those of the previous financial year except for the adoption of the The preparation of the Group’s and of the Company’s financial statements requires management to make judgements,
following new/revised MFRSs, amendments to MFRSs and interpretations: estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure
of contingent liabilities, at the end of the reporting period. However, uncertainty about these assumptions and estimates
Effective for annual could result in outcomes that require a material adjustment to the carrying amount of the asset or liability affected in future
periods beginning periods.
Description on or after
7.1 Judgements made in applying accounting policies
Amendments to MFRS 3: Definition of a Business 1 January 2020
Amendments to MFRS 9, MFRS 139 and MFRS 7: Interest Rate Benchmark Reform 1 January 2020 In the process of applying the Group’s and the Company’s accounting policies, management has not made any
Amendments to MFRS 101: Definition of Material 1 January 2020 critical judgements, apart from those involving estimations, which could have a significant effect on the amounts
Amendments to MFRS 108: Definition of Material 1 January 2020 recognised in the financial statements except as discussed below:
Amendment to MFRS 16: Covid-19-Related Rent Concessions 1 June 2020
Classification between investment properties and property, plant and equipment
The adoption of the above accounting standards, amendments and interpretations, where relevant, did not have any
The Group has developed certain criteria based on MFRS 140 in making judgement whether a property qualifies as
significant impact on the financial performance or position of the Group and of the Company.
an investment property. Investment properties are properties held to earn rentals or for capital appreciation or both.
Some properties comprise a portion that is held to earn rentals or for capital appreciation and another portion that
6. NEW AND AMENDED STANDARDS AND INTERPRETATIONS ISSUED BUT NOT YET EFFECTIVE
is held for use in the production or supply of goods or services or for administrative purposes. If these portions
could be sold separately (or leased out separately under a finance lease), the Group would account for the portions
The standards and interpretations that are issued but not yet effective up to the date of issuance of the Group’s and of
separately. If the portions could not be sold separately, the property is an investment property only if an insignificant
the Company’s financial statements are discussed below. The Group and the Company intend to adopt these standards,
portion is held for use in the production or supply of goods or services or for administrative purposes. Judgement is
if applicable, when they become effective.
made on an individual property basis to determine whether ancillary services are so significant that a property does
not qualify as investment property. The Group has determined that its properties held to earn rental income or capital
Effective for annual appreciation are investment properties as only an insignificant portion of the properties is used in the production or
periods beginning supply of goods or services or for administrative purposes and ancillary services are not significant to the properties.
Description on or after
7.2 Estimates and assumptions
Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16: Interest Rate
Benchmark Reform - Phase 2 1 January 2021
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date,
Amendment to MFRS 16: Covid-19-Related Rent Concessions beyond 30 June 2021 1 April 2021
that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the
Annual Improvements to MFRS Standards 2018 - 2020 1 January 2022
next financial year, are described below. The Group based its assumptions and estimates on parameters available
Amendments to MFRS 3: Reference to the Conceptual Framework 1 January 2022 when the financial statements were prepared. Existing circumstances and assumptions about future developments,
Amendments to MFRS 116: Property, Plant and Equipment - Proceeds before Intended Use 1 January 2022 however, may change due to market changes or circumstances arising beyond the control of the Group. Such
Amendments to MFRS 137: Onerous Contracts - Cost of Fulfilling a Contract 1 January 2022 changes are reflected in the assumptions when they occur.
MFRS 17 Insurance Contracts 1 January 2023
Amendments to MFRS 17 Insurance Contracts 1 January 2023 (a) Inventories costing
Amendments to MFRS 101: Classification of Liabilities as Current or Non-current 1 January 2023
Amendments to MFRS 101: Disclosure of Accounting Policies 1 January 2023 In determining the costing of inventories, management’s estimate is required in determining the basis of
valuation for finished goods and work-in-progress which comprise costs of raw materials, direct labour, other
Amendments to MFRS 108: Definition of Accounting Estimates 1 January 2023
direct costs, and the appropriate allocation of overheads based on normal operating capacity.
Amendments to MFRS 112: Deferred Tax related to Assets and Liabilities arising from a
Single Transaction 1 January 2023
(b) Impairment of goodwill
Amendments to MFRS 10 and MFRS 128: Sale or Contribution of Assets between an
Investor and its Associate or Joint Venture Deferred Goodwill is tested for impairment at each reporting period and at other times when such indicators exist. This
requires an estimation of the value-in-use of the cash-generating units to which goodwill is allocated.
The Group and the Company will adopt the abovementioned standards, amendments and interpretations, if applicable,
when they become effective in the respective financial year. These pronouncements are not expected to have any impact
When value-in-use calculations are undertaken, management must estimate future cash flows from the cash-
to the financial statements of the Group and of the Company upon their initial application.
generating unit and choose a suitable discount rate in order to calculate the present values of those cash flows.
Further details of the carrying value, the key assumptions applied in the impairment assessment and sensitivity
analysis to changes in the assumptions are disclosed in Note 23.

OUR PERFORMANCE

8. REVENUE 9. INTEREST INCOME
(a) Disaggregated revenue information Group Company

2021 2020 2021 2020
Group Company RM’000 RM’000 RM’000 RM’000
2021 2020 2021 2020
RM’000 RM’000 RM’000 RM’000 Interest income from:
Financial assets at fair value through OCI 3,638 1,006 67 -
Revenue from contracts with customers
Financial assets at amortised cost 7,338 5,456 10,559 5,567
Business units by geographical area
Financial assets at fair value through
Malaysia 13,907,278 6,223,145 - - profit or loss 50,540 17,157 14,192 4,174
Thailand 1,199,387 540,005 - - Others 59 270 - -
The People’s Republic of China 429,918 127,500 - - 61,575 23,889 24,818 9,741
Others 824,860 346,777 - -
16,361,443 7,237,427 - -
10. OTHER INCOME
Revenue from other sources
Management fees from subsidiaries - - 9,411 5,904 Group Company
Dividend income from subsidiaries - - 6,483,958 1,630,710 2021 2020 2021 2020
- - 6,493,369 1,636,614 RM’000 RM’000 RM’000 RM’000
Total revenue 16,361,443 7,237,427 6,493,369 1,636,614
Realised gain on foreign exchange 20,818 - - 7
Timing of revenue recognition Unrealised gain on foreign exchange 9,174 - 3,546 -
Goods transferred at a point in time 16,361,443 7,237,427 - - Net fair value gain on derivative financial
instruments 2,143 1,703 - -
Net gain from fair value remeasurement of
(b) Performance obligation investment properties (Note 18) 1,846 - - -
Net fair value gain on investment in debt securities
The Group is in the business of selling of gloves and other healthcare products. at fair value through profit or loss 2,591 - 929 -
Rental income 7,551 7,286 - -
The performance obligation is satisfied upon transfer of control of the goods to the customers and payment is
generally due within 30 to 90 (2020: 30 to 90) days. Gain on disposal of debt securities 3,828 2,845 - -
Gain on disposal of right-of-use assets - 350 - -
The transaction price allocated to the remaining performance obligations (unsatisfied) as at 31 August 2021 and 2020 Sales of scrap items 10,421 6,354 - -
are as follows:
Insurance claims 196 1,843 - -
Sundry income 24,743 11,831 - -
Group Company
Allowance for inventories written back - 904 - -
2021 2020 2021 2020
RM’000 RM’000 RM’000 RM’000 83,311 33,116 4,475 7
Within one year 737,627 879,386 - -
All remaining performance obligations are expected to be recognised within one year.

OUR PERFORMANCE

11. PROFIT BEFORE TAX 12. EMPLOYEE BENEFITS EXPENSES

The following items have been charged/(credited) in arriving at profit before tax: Group Company

2021 2020 2021 2020
Group Company RM’000 RM’000 RM’000 RM’000
2021 2020 2021 2020
RM’000 RM’000 RM’000 RM’000 Wages and salaries 876,691 608,509 5,275 3,626
Social security costs 11,595 9,013 2 2
Auditors’ remuneration:
Pension costs - defined contribution plan 45,453 31,863 429 412
Ernst & Young PLT
Share options granted under ESOS 33,983 7,404 2,072 904
- Statutory audit
Shares granted under ESGP 8,641 1,128 142 134
- Current year 622 499 80 80
Other staff related expenses 63,944 36,014 210 184
- Under provision in prior year 5 - - -
Executive directors’ fees
- Other services 1,718 192 1,718 112
- Company 520 520 520 520
Member firm of Ernst & Young Global Limited
- Subsidiaries 55 49 - -
- Other services 556 - 556 -
1,040,882 694,500 8,650 5,782
Other auditors
- Statutory audit Included in employee benefits expenses of the Group and of the Company are executive directors’ remuneration amounting
- Current year 529 551 - - to RM8,489,000 (2020: RM6,920,000) and RM6,432,000 (2020: RM5,288,000) respectively.
- Under provision in prior year 22 80 - -
Group Company
- Other services 6 - - -
2021 2020 2021 2020
Inventories written off 32,709 - - -
RM’000 RM’000 RM’000 RM’000
Allowance for inventories written down 80,558 - - -
Bad debts written off 124 573 - - Directors’ remuneration
Depreciation of property, plant and equipment
Directors of the Company
(Note 16) 296,718 237,352 - -
Depreciation of right-of-use assets (Note 17) 8,215 4,361 77 33 Executive:
Amortisation of intangible assets (Note 23) 3,731 3,683 - - Salaries and other emoluments 5,380 5,229 3,661 3,693
Direct operating expenses arising from investment Pension costs - defined contribution plan 613 430 419 400
properties Social security contributions 48 2 1 1
- Rental generating property 3,114 2,714 - - Share options granted under ESOS 1,757 629 1,757 597
Impairment loss on investment in subsidiaries Shares granted under ESGP 68 - - -
(Note 19) - - 8,723 - Fees 520 520 520 520
Net loss on foreign exchange Benefits-in-kind 103 110 74 77
- Realised - 80,949 515 - 8,489 6,920 6,432 5,288
Non-executive:
- Unrealised - 786 - -
Salaries and other emoluments 517 442 220 186
Loss on disposal of property, plant and equipment 2 353 - -
Fees 1,312 1,589 1,312 1,589
Remediation costs (Note 48(b)) 13,924 135,790 - -
1,829 2,031 1,532 1,775
Legal and other professional fees 43,191 23,343 27,572 2,038
Net reversal of allowance for expected credit loss Analysis excluding benefits-in-kind:
(Note 25) (13) (227) - - Total executive directors’ remuneration 8,386 6,810 6,358 5,211
Impairment loss on other receivables - - 3,249 - Total non-executive directors’ remuneration 1,829 2,031 1,532 1,775
Property, plant and equipment written off 44,243 20,223 - - Total directors’ remuneration
(excluding benefits-in-kind) 10,215 8,841 7,890 6,986
Benefits-in-kind 103 110 74 77
Total directors’ remuneration
(including benefits-in-kind) 10,318 8,951 7,964 7,063

OUR PERFORMANCE

12. EMPLOYEE BENEFITS EXPENSES (CONT’D) 13. FIVE HIGHEST PAID EMPLOYEES

The remuneration of directors is set out below: The five highest paid employees included 4 (2020: 4) directors, details of whose remuneration are set out in Note 12 above.
Details of the remuneration of the remaining highest paid employee who is neither a director nor chief executive of the
Performance Company are as follows:
Wages and related Staff welfare Share award
Fees salaries bonus expenses scheme Total 2021 2020
2021 Salaries, bonuses, allowances and benefits-in-kind 678 623

Directors of the Equity-settled share based payment expense 283 127
Company Pension costs - defined contribution plan 78 72
Executive 520 5,182 198 764 1,825 8,489 1,039 822
Non-executive 1,312 517 - - - 1,829
The number of non-director and non-chief executive highest paid employees of the Group whose remuneration fell within
1,832 5,699 198 764 1,825 10,318
the following bands is as follows:
2020 Group
Directors of the 2021 2020
Company
Executive 520 4,925 304 542 629 6,920 RM500,001 to RM1,000,000 - 1
Non-executive 1,589 442 - - - 2,031 RM1,000,001 to RM1,500,000 1 -
1 1
2,109 5,367 304 542 629 8,951

The remuneration of the directors of the subsidiaries during the financial years ended 31 August 2021 and 2020 is set as
14. INCOME TAX EXPENSE
below:
Major components of income tax expense

Group Company
2021 2020 2021 2020 The major components of income tax expense for the financial years ended 31 August 2021 and 2020 are as follows:
RM’000 RM’000 RM’000 RM’000
Group Company
Executive:
2021 2020 2021 2020
Salaries and other emoluments 4,101 3,985 - -
RM’000 RM’000 RM’000 RM’000
Pension costs - defined contribution plan 248 289 - -
Social security contributions 42 10 - - Current income tax:
Share options granted under ESOS 584 113 - - - Malaysian income tax 1,937,525 314,913 3,049 213
Shares granted under ESGP 28 1 - - - Foreign tax 202,958 46,765 - -
Fees 55 49 - - - Real property gain tax (“RPGT”) - 54 - -
- Under/(over) provision in respect of
Benefits-in-kind 75 139 - -
previous years 17,146 (5,903) 983 4
5,133 4,586 - -
2,157,629 355,829 4,032 217
Non-executive:
Fees 2 2 - - Deferred income tax (Note 21):
- Relating to origination and reversal of
temporary differences 26,172 18,212 - -
- Under provision in respect of previous years 26,020 2,680 - -
52,192 20,892 - -
Income tax expense recognised in profit or loss 2,209,821 376,721 4,032 217

OUR PERFORMANCE

14. INCOME TAX EXPENSE (CONT’D) 15. EARNINGS PER SHARE
Reconciliation between tax expense and accounting profit (a) Basic
The reconciliation between tax expense and the product of accounting profit multiplied by the applicable corporate tax rate Basic earnings per share is calculated by dividing profit for the year, net of tax, attributable to owners of the parent
for the financial years ended 31 August 2021 and 2020 are as follows: by the weighted average number of ordinary shares outstanding during the financial year, excluding treasury shares
held by the Company.
Group Company
2021 2020 2021 2020 2021 2020
RM’000 RM’000 RM’000 RM’000 Profit net of tax attributable to owners of the parent (RM’000) 7,710,327 1,752,584
Profit before tax 10,033,813 2,165,551 6,465,382 1,637,339
Weighted average number of ordinary shares in issue (’000) 8,039,195 2,592,546
Tax at Malaysian statutory tax rate of 24% Bonus issue subsequent to year end, excluding treasury shares held by the
(2020: 24%) 2,408,115 519,732 1,551,692 392,961 Company (’000) - 5,417,395
Adjustments: Adjusted weighted average number of ordinary shares in issue and issuable (’000) 8,039,195 8,009,941
Different tax rates in other countries (24,341) (10,954) - -
Effects of tax incentives claimed by foreign Basic earnings per share (sen)
subsidiaries (58,790) (14,121) - - - before issuance of bonus shares (sen) 95.91 67.60
Income not subject to tax (39,407) (7,387) (1,560,011) (393,497) - after issuance of bonus shares (sen) 95.91 21.88
Effect of change in RPGT rates - (43) - -
(b) Diluted
Non-deductible expenses 43,576 28,077 11,011 745
Effect of income subject to RPGT - 54 - - Diluted earnings per share is calculated by dividing profit for the year, net of tax, attributable to owners of the
Expenses entitled for double deduction - (1,502) - - parent (after adjusting for interest on the exchangeable bonds) by the weighted average number of ordinary shares
Utilisation of tax incentives (161,134) (45,434) - - outstanding during the financial year plus the weighted average number of ordinary shares that would be issued on
the conversion of all the dilutive potential ordinary shares into ordinary shares.
Utilisation of previously unrecognised tax losses
and unabsorbed capital allowance (947) (119) - -
2021 2020
Deferred tax assets not recognised in respect of
current year’s tax losses and unabsorbed
Profit net of tax attributable to owners of the parent (RM’000) 7,710,327 1,752,584
capital allowance 464 477 357 4
Net interest savings from assumed exchange of Guaranteed Exchangeable
Deferred tax assets recognised in respect
Bonds at inception (RM’000) - 6,970
of previously unrecognised tax losses and
unabsorbed capital allowance (131) - - - Adjusted profit net of tax attributable to owners of the parent (RM’000) 7,710,327 1,759,554
Deferred tax assets recognised in respect of

reinvestment allowance (115) (89,179) - - Weighted average number of ordinary shares in issue (’000) 8,039,195 2,592,546
Share of results of an associate (635) 343 - - Effect of dilution from:
Under provision of deferred tax in respect Assumed exercise of share options (’000) 6,753 5,723
of previous years 26,020 2,680 - - Assumed conversion of exchangeable bonds (’000) - 17,113
Under/(over) provision of income tax in respect 8,045,948 2,615,382
of previous years 17,146 (5,903) 983 4
Bonus issue subsequent to year end, excluding treasury shares held by the
Income tax expense recognised in profit or loss 2,209,821 376,721 4,032 217 Company (’000) - 5,463,067
Adjusted weighted average number of ordinary shares in issue and issuable (’000) 8,045,948 8,078,449
Domestic income tax is calculated at the Malaysian statutory tax rate of 24% (2020: 24%) of the estimated assessable
profit for the year. Taxation for other jurisdictions is calculated at the rates prevailing in the respective jurisdictions.
Diluted earnings per share (sen)
The above reconciliation is prepared by aggregating separate reconciliations for each national jurisdiction. - before issuance of bonus shares (sen) 95.83 67.28
- after issuance of bonus shares (sen) 95.83 21.78
The weighted average number of ordinary shares issued as at 31 August 2020 have been adjusted to reflect the
bonus issue of two for every one existing ordinary share which was completed on 7 September 2020.

OUR PERFORMANCE

16. PROPERTY, PLANT AND EQUIPMENT 16. PROPERTY, PLANT AND EQUIPMENT (CONT’D)
Land Plant Capital Land Plant Capital

and and * Other work-in- and and * Other work-in-
buildings equipment assets progress Total buildings equipment assets progress Total
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Group Group
Cost Accumulated depreciation
At 1 September 2019 1,041,478 1,943,980 246,922 309,488 3,541,868 At 1 September 2019 93,364 852,759 122,605 - 1,068,728
Additions 116,434 375,235 52,688 262,043 806,400 Depreciation charged for the year (Note 11) 14,379 194,051 28,922 - 237,352
Reclassification 51,533 217,002 12,739 (281,274) - Reclassification (37) 603 (566) - -
Written off (374) (39,339) (2,342) (75) (42,130) Written off (32) (19,808) (2,067) - (21,907)
Disposals (1,007) (23,721) (703) (145) (25,576) Disposals (342) (17,519) (711) - (18,572)
Exchange differences (2,448) (6,468) (550) (185) (9,651) Exchange differences (348) (4,247) (328) - (4,923)
At 31 August 2020/1 September 2020 1,205,616 2,466,689 308,754 289,852 4,270,911 At 31 August 2020/1 September 2020 106,984 1,005,839 147,855 - 1,260,678
Additions 318,009 363,189 64,908 587,912 1,334,018 Depreciation charged for the year (Note 11) 16,237 242,977 37,504 - 296,718
Transfer to investment properties (Note 18) (34,752) - - - (34,752) Reclassification (2,805) (1,576) 4,381 - -
Transfer to right-of-use assets (Note 17) - - - (4) (4) Written off (554) (25,319) (2,016) - (27,889)
Reclassification 21,378 111,705 18,651 (151,734) - Disposals (3) (6,505) (1,303) - (7,811)
Written off (3,699) (60,925) (3,056) (4,452) (72,132) Exchange differences (219) (5,865) (518) - (6,602)
Disposals (12) (7,661) (1,384) (14) (9,071) At 31 August 2021 119,640 1,209,551 185,903 - 1,515,094
Exchange differences (2,746) (9,222) (658) (2,535) (15,161)
At 31 August 2021 1,503,794 2,863,775 387,215 719,025 5,473,809 Net carrying amount
At 31 August 2020 1,098,632 1,460,850 160,899 289,852 3,010,233
At 31 August 2021 1,384,154 1,654,224 201,312 719,025 3,958,715
* Other assets comprise motor vehicles, computer and software systems, office equipment, signages, small value of
assets, fire extinguishers, furniture and equipment.

OUR PERFORMANCE

16. PROPERTY, PLANT AND EQUIPMENT (CONT’D) 16. PROPERTY, PLANT AND EQUIPMENT (CONT’D)
Land and buildings (a) Included in the property, plant and equipment of the Group are fully depreciated assets which are still in use, with their
carrying costs as follows:
Freehold
land Buildings Total 2021 2020
RM’000 RM’000 RM’000 RM’000 RM’000
Group Buildings 397 -
Cost Plant and equipment 417,904 385,030

Other assets 91,931 78,272
At 1 September 2019 435,466 606,012 1,041,478
510,232 463,302
Additions 47,128 69,306 116,434
Reclassification 4,438 47,095 51,533
Written off - (374) (374) 17. RIGHT-OF-USE ASSETS
Disposals - (1,007) (1,007)
Plant
Exchange differences (767) (1,681) (2,448)
and * Other
At 31 August 2020/1 September 2020 486,265 719,351 1,205,616 Land Buildings equipment assets Total
Additions 281,949 36,060 318,009 RM’000 RM’000 RM’000 RM’000 RM’000
Transfer to investment properties (Note 18) (34,752) - (34,752)
Group
Reclassification (347) 21,725 21,378
Written off - (3,699) (3,699) At 1 September 2019 182,897 13,119 638 1,077 197,731
Disposals - (12) (12) Additions 9,347 108 - 77 9,532
Exchange differences (1,053) (1,693) (2,746) Depreciation charged for the year (Note 11) (2,674) (1,319) (93) (275) (4,361)
At 31 August 2021 732,062 771,732 1,503,794 Disposals (304) - (109) - (413)
Exchange differences (448) (616) - - (1,064)
Accumulated depreciation At 31 August 2020/1 September 2020 188,818 11,292 436 879 201,425
Additions 388 8,843 77 - 9,308
At 1 September 2019 - 93,364 93,364
Transfer from property, plant and
Depreciation charged for the year - 14,379 14,379 equipment (Note 16) 4 - - - 4
Reclassification - (37) (37) Depreciation charged for the year (Note 11) (3,778) (4,112) (87) (238) (8,215)
Written off - (32) (32) Adjustment due to lease modification 10,055 (1,727) - - 8,328
Disposals - (342) (342) Exchange differences (126) (75) - - (201)
Exchange differences - (348) (348) At 31 August 2021 195,361 14,221 426 641 210,649
At 31 August 2020/1 September 2020 - 106,984 106,984
Depreciation charged for the year - 16,237 16,237 Company
Reclassification - (2,805) (2,805)
Written off - (554) (554) At 1 September 2019 - - - - -
Disposals - (3) (3) Additions - 467 - - 467
Exchange differences - (219) (219) Depreciation charged for the year (Note 11) - (33) - - (33)
At 31 August 2021 - 119,640 119,640 At 31 August 2020/1 September 2020 - 434 - - 434
Depreciation charged for the year (Note 11) - (77) - - (77)
Net carrying amount At 31 August 2021 - 357 - - 357
* Other assets comprise motor vehicles and office equipment.

At 31 August 2020 486,265 612,367 1,098,632
At 31 August 2021 732,062 652,092 1,384,154

OUR PERFORMANCE

18. INVESTMENT PROPERTIES 18. INVESTMENT PROPERTIES (CONT’D)
2021 2020 The fair value of investment properties were determined based on valuations performed by registered independent valuers
RM’000 RM’000 using the following methods (cont’d):
Group (b) Investment method
Fair value of investment properties: This method considers the present value of net rental income to be generated from the property, taking into account
the expected rental growth rate, occupancy rate and lease incentive. This net rental income is discounted at a risk-
At 1 September 2020/2019 163,900 163,900 adjusted discount rate to arrive at its present value. The key inputs to the valuation of investment properties are as
Additions 26,902 - follows:
Transfer from property, plant and equipment (Note 16) 34,752 -
Net gain from fair value remeasurement (Note 10) 1,846 - Valuation Significant unobservable Range
At 31 August 227,400 163,900 technique inputs 2021 2020
Rental income arising from investment properties is RM3,789,000 (2020: RM4,747,000). Direct operating expenses arising Freehold land Investment Estimated rental value per square foot RM4.50 to RM4.50 to
from investment properties are disclosed in Note 11. and building method per month RM5.20 RM5.50
(Discounted
cash flow Term yield rate 6.5% 6.5%
Reconciliation of fair value:
method)
Occupancy rate 88.0% 92.0%
Freehold
Building land Total Long term vacancy rate 12.0% 10.0%
RM’000 RM’000 RM’000
Reversionary yield rate 7.0% 7.0%
Group
Using the discounted cash flows method, fair value is estimated using assumptions regarding the benefits and
At 1 September 2019/31 August 2020/1 September 2020 136,300 27,600 163,900 liabilities of ownership over the asset’s life including an exit or terminal value. This method involves the projection of
Additions - 26,902 26,902 a series of cash flows on a real property interest. To this projected cash flow series, a market-derived discount rate
is applied to establish the present value of the income stream associated with the asset. The exit yield is normally
Transfer from property, plant and equipment (Note 16) - 34,752 34,752
separately determined and differs from the discount rate.
Net gain from fair value remeasurement (Note 10) - 1,846 1,846
At 31 August 2021 136,300 91,100 227,400 The duration of the cash flows and the specific timing of inflows and outflows are determined by events such as
rent reviews, lease renewal and related re-letting, redevelopment, or refurbishment. The appropriate duration is
Fair value hierarchy disclosures for investment properties are in Note 41(ii). typically driven by market behaviour that is a characteristic of the class of real property. Periodic cash flow is typically
estimated as gross income less vacancy, non-recoverable expenses, collection losses, lease incentives, maintenance
The fair value of investment properties were determined based on valuations performed by registered independent valuers cost, agent and commission costs and other operating and management expenses. The series of periodic net
using the following methods: operating income, along with an estimate of the terminal value anticipated at the end of the projection period, is then
discounted.
(a) Comparison method
Significant increase/(decrease) in estimated rental value in isolation would result in a significantly higher/(lower) fair
Fair value is arrived at by reference to market evidence of transaction prices for similar properties, adjustments are value of the property. Significant increases/(decreases) in the long term vacancy rate and yield rates in isolation would
made to account for factors such as differences in location, age, size and type of property. result in a significantly lower/(higher) fair value.
An upward/(downward) change in the adjustments for factors such as differences in location, age, size and type of Generally, a change in the assumption made for the estimated rental value is accompanied by a directionally similar
property will result in a higher/(lower) fair value of the investment properties. change in the rent growth per annum and discount rate (and exit yield), and an opposite change in the long term
vacancy rate.

OUR PERFORMANCE

19. INVESTMENT IN SUBSIDIARIES 19. INVESTMENT IN SUBSIDIARIES (CONT’D)
Company Details of the subsidiaries are as follows:
2021 2020
RM’000 RM’000 Country of Proportion of
incorporation/ ownership interest (%)
Unquoted shares, at cost: principal place
- In Malaysia 2,043,250 1,618,773 Name of business 2021 2020 Principal activities
Less: Accumulated impairment losses (13,568) (4,845) Held by the Company:

2,029,682 1,613,928
Top Glove Sdn. Bhd.* Malaysia 100 100 Manufacturing and trading of gloves
- Outside Malaysia 3,728 3,728
2,033,410 1,617,656 TG Medical Sdn. Bhd.## Malaysia 100 100 Manufacturing and trading of examination,
surgical and nitrile gloves, general trading
Movement in accumulated impairment losses: and investment holding
Great Glove (Malaysia) Malaysia 100 100 Company temporarily ceased business
Company
Sdn. Bhd.# operation
2021 2020
RM’000 RM’000 Top Glove Engineering Malaysia 100 100 Manufacturing and supply of engineering
Sdn. Bhd.# parts and general contractors of all kinds
At 1 September 2020/2019 (4,845) (4,845) of rubber gloves machinery
Impairment losses (Note 11) (8,723) -
TG Medical (U.S.A.), Inc.# United States 100 100 Trading of gloves
At 31 August (13,568) (4,845)
of America
In the financial year ended 31 August 2021, the Company made an allowance for impairment loss on investments in Great Top Quality Glove Malaysia 100 100 Manufacturing and trading of gloves,
Glove (Malaysia) Sdn. Bhd. and Top Glove Labuan Ltd. of RM500,000 and RM8,223,000 respectively. The allowance was Sdn. Bhd.* rubber products and cast polyethylene
made after considering the measurable decrease in the recoverable amount of the investments.
Top Care Sdn. Bhd.* Malaysia 100 100 Investment holding
(a) Incorporation of TG Worldwide Sdn. Bhd. (“TG Worldwide”)
GMP Medicare Sdn. Bhd.* Malaysia 100 100 Manufacturing and trading of gloves and
On 18 August 2021, the Company incorporated TG Worldwide in Malaysia under the Companies Act 2016 with an rubber products and general trading
issued and paid-up capital of RM1.00 comprising 1 ordinary share. The Company owns the entire issued and paid-up
Eastern Press Sdn. Bhd.# Malaysia 100 100 Manufacturing of packaging materials,
share capital of TG Worldwide upon which, TG Worldwide became a wholly-owned subsidiary of the Company.
boxes and cartons
(b) Acquisition of additional equity interest in subsidiaries
Top Feel Sdn. Bhd.# Malaysia 100 100 Manufacture and sale of condoms, rubber
related products, and disposable and
(i) Top Care Sdn. Bhd.
medical face masks
On 26 February 2021, Top Care Sdn. Bhd., a wholly-owned subsidiary of the Company had increased its share Top Glove Labuan Ltd.# Malaysia 100 100 Investment holding
capital from RM685,653,000 to RM1,101,907,000.
Top Glove Global Malaysia 100 100 Provision of management services
(ii) Top Glove Labuan Ltd. Sdn. Bhd.#
On 8 March 2021, Top Glove Labuan Ltd., a wholly-owned subsidiary of the Company had increased its share TG Healthcare Sdn. Bhd.# Malaysia 100 100 Manufacturing and trading of personal care
capital from RM4 to RM8,223,000. and home care products
TG Worldwide** Malaysia 100 - Trading and provision of value added

services

OUR PERFORMANCE

19. INVESTMENT IN SUBSIDIARIES (CONT’D) 19. INVESTMENT IN SUBSIDIARIES (CONT’D)
Details of the subsidiaries are as follows (cont’d): Details of the subsidiaries are as follows (cont’d):
Country of Proportion of Country of Proportion of

incorporation/ ownership interest (%) incorporation/ ownership interest (%)
principal place principal place
Name of business 2021 2020 Principal activities Name of business 2021 2020 Principal activities
Held through Top Glove Sdn. Bhd.: Held through Top Glove Sdn. Bhd. (cont’d):
Great Glove (Thailand) Thailand 74 74 Manufacturing and trading of gloves TG FMT Sdn. Bhd.* Malaysia 70 70 Manufacturing and trading of functional
Co. Ltd.# fillers
Top Glove Medical Thailand 100 100 Manufacturing and trading of gloves Top Glove Chemicals Malaysia 100 100 Providing advisory services and
(Thailand) Co. Ltd.#^ Sdn. Bhd.# manufacturing of chemicals and
chemical compounds
Top Glove Technology Thailand 100 100 Producing and selling rubber products
(Thailand) Co. Ltd.# Top Glove Vietnam Vietnam 100 100 Manufacturing of vinyl gloves and other
Company Limited# products
B Tech Industry Co. Ltd.# Thailand 100 100 Producing and selling concentrate latex
TG Excellence Berhad* Malaysia 100 100 Special purpose vehicle solely for issuance
Top Quality Gloves Thailand 100 100 Dormant of Perpetual Sukuk
(Thailand) Co. Ltd.#
Top Academy Sdn. Bhd.# Malaysia 100 100 Organise in-house trainings and public
Top Glove Europe GmbH# Germany 97.5 97.5 Trading of gloves trainings/programs
Great Glove (Xinghua) The People’s 100 100 Manufacturing and trading of gloves Held through Great Glove (Malaysia) Sdn. Bhd.:
Co. Ltd.# Republic of
China TG Meditech Sdn. Bhd.# Malaysia 100 100 Manufacturing and trading of healthcare
products
TG Medical Suzhou The People’s 100 100 Trading of gloves
Co. Ltd.# Republic of Held through TG Medical Sdn. Bhd.:
China
Top Healthy Fitness Malaysia 100 100 Establishing and maintaining of fitness
Top Glove International Malaysia 100 100 Research and development on gloves and Sdn. Bhd.# related business, including healthcare,
Sdn. Bhd.# rubber goods and provision of analytical slimming centres, gymnasiums and other
services related activities
Top Glove Properties Malaysia 100 100 Property investment, consultancy services TG Raytech Sdn. Bhd.# Malaysia 98.9 97.5 Providing innovative healthcare related
Sdn. Bhd.# and electrical engineering works products and service solutions
Medi-Flex Pte. Ltd.# Singapore/ 100 100 Investment holding Top Synthetic Rubber Malaysia 100 100 Manufacturing and trading of chemical
Malaysia Sdn. Bhd.# products
BestStar Enterprise Ltd.* The British 100 100 Investment holding Held through Great Glove (Xinghua) Co. Ltd.:
Virgin Islands/
Malaysia TG Medical (Xinghua) The People’s 100 100 Trading of gloves and healthcare related
Co. Ltd.# Republic of products
Flexitech Sdn. Bhd.* Malaysia 100 100 Manufacturing of gloves, general trading, China
property investment
TG Medical (Putian) The People’s 100 100 Trading of gloves and healthcare related
TG Porcelain Sdn. Bhd.# Malaysia 100 100 Manufacturing of formers Co. Ltd.# Republic of products
China
TGGD Medical Clinic Malaysia 75 75 Providing of clinical and specialist medical
Sdn. Bhd.# services, medical related consultancy
and advisory services and emergency
medical services

OUR PERFORMANCE

19. INVESTMENT IN SUBSIDIARIES (CONT’D) 19. INVESTMENT IN SUBSIDIARIES (CONT’D)
Details of the subsidiaries are as follows (cont’d): Details of the subsidiaries are as follows (cont’d):
Country of Proportion of Country of Proportion of

incorporation/ ownership interest (%) incorporation/ ownership interest (%)
principal place principal place
Name of business 2021 2020 Principal activities Name of business 2021 2020 Principal activities
Held through Top Care Sdn. Bhd.: Held through Aspion Sdn. Bhd. (cont’d):
Best Advance Resources Malaysia 100 100 Investment holding Terang Nusa Sdn. Bhd.* Malaysia 100 100 Dormant
Limited#
Ulma International GmbH@ Germany 100 100 Distribution of medical gloves and other
Green Resources Limited# Malaysia 100 100 Investment holding hospital related products
Aspion Sdn. Bhd.* Malaysia 100 100 Investment holding Suizze Health Ltd# Hong Kong/ 100 100 Investment holding
Malaysia
TG Efficient Sdn. Bhd.** Malaysia 100 - Manufacturing of rubber gloves
Held through GMP Medicare Sdn. Bhd.:
Held through Top Feel Sdn. Bhd.:
TG Ecommerce Sdn. Bhd.# Malaysia 100 100 E-commerce activities for glove trading
Duramedical Sdn. Bhd.# Malaysia 85 85 Manufacturing of rubber dental dams and and other healthcare products
exercise bands
Held through Suizze Health Ltd:
Held through Best Advance Resources Limited:
Kevenoll Do Brasil Produtos Brazil 100 100 Distribution of medical products and
PT. Topglove Indonesia#^^ Indonesia 100 100 Providing management services in Medicos Hospitalares medical devices
plantation sector and processing of LTDA#^^^^
plantation produce
Held through Top Glove Properties Sdn. Bhd.:
Held through PT. Topglove Indonesia:
Healthy Hostel Sdn. Bhd.# Malaysia 100 - Provision of accommodation services
PT. Agro Pratama Indonesia 95 95 Industrial Forest Plantation
Sejahtera# * Audited by Ernst & Young PLT
# Audited by firms other than Ernst & Young PLT
Held through PT. Agro Pratama Sejahtera:
## Audited by firms other than Ernst & Young PLT for the financial year ended 31 August 2020, and audited by Ernst &
PT. Top Green Forestry#Ω Indonesia 57 57 Forestry and Industry Young PLT since the financial year ended 31 August 2021
** No auditors’ report on the financial statements was issued as it was newly incorporated during the financial year
Held through Aspion Sdn. Bhd.: @ Statutory audit is not required under local regulations
Adventa Health Sdn. Bhd.* Malaysia 100 100 Distribution of medical gloves and other ^ The total equity interests held by the Group is 100% and it is held by the following subsidiaries:
hospital related products
2021 2020
Terang Nusa (Malaysia) Malaysia 100 100 Manufacturing and distribution of sterile
Sdn. Bhd.* surgical gloves (i) Top Glove Sdn. Bhd. 61.5% 61.5%
(ii) TG Medical Sdn. Bhd. 38.5% 38.5%
Cytotec (M) Sdn. Bhd.* Malaysia 100 100 Generation and supply of energy and
electricity using biomass technology ^^ The total equity interests held by the Group is 100% and it is held by the following subsidiaries:
Purnabina Sdn. Bhd.*^^^ Malaysia 97.2 97.2 Manufacturing and distribution of medical
gloves 2021 2020
(i) Best Advance Resources Limited 99.9% 99.9%
Sentienx Sdn. Bhd.* Malaysia 100 100 Manufacturing and distribution of medical
(ii) Green Resources Limited 0.1% 0.1%
gloves and synthetic latex

OUR PERFORMANCE

19. INVESTMENT IN SUBSIDIARIES (CONT’D) 20. INVESTMENT IN AN ASSOCIATE
^^^ The total equity interests held by the Group is 97.2% and it is held by the following subsidiaries: Group
2021 2020
2021 2020 RM’000 RM’000
(i) Aspion Sdn. Bhd. 95.2% 95.2%
Unquoted shares at cost 12,204 12,204
(ii) Terang Nusa (Malaysia) Sdn. Bhd. 2.0% 2.0%
Share of post-acquisition reserves 865 (1,779)
^^^^ The total equity interests held by the Group is 100% and it is held by the following subsidiaries: 13,069 10,425
2021 2020 Details of the associate are as follows:

(i) Aspion Sdn. Bhd. 0.1% 0.1%
Country of Proportion of
(ii) Suizze Health Ltd 99.9% 99.9%
incorporation/ ownership interest (%)
principal place
Ω The total equity interests held by the Group is 57% and it is held by the following subsidiary:
Name of business 2021 2020 Principal activities
2021 2020 Held through Top Glove Sdn. Bhd.:

PT. Agro Pratama Sejahtera 60.0% 60.0%
Value Add Sdn. Bhd.# Malaysia 27 27 Investment holding
Changes in group structure
# Audited by a firm other than Ernst & Young PLT
(a) Incorporation of Healthy Hostel Sdn. Bhd. (“Healthy Hostel”)
The financial year end of the above associate is non-coterminous with the Group. For the purpose of applying the equity
On 22 December 2020, the Company, through its wholly-owned subsidiary, Top Glove Properties Sdn. Bhd., method of accounting, the latest available financial information has been used and appropriate adjustments have been
incorporated Healthy Hostel under the Companies Act 2016 with an issued and paid up capital of RM1.00 made for the effects of significant transactions between the dates of the latest available financial information and financial
comprising 1 ordinary share. Top Glove Properties Sdn. Bhd. owns the entire issued and paid-up share capital years ended 31 August 2021 and 2020.
of Healthy Hostel upon which, Healthy Hostel became a wholly-owned indirect subsidiary of the Company.
The summarised financial information of the associate, not adjusted for the proportion of ownership interest held by the
(b) Incorporation of TG Efficient Sdn. Bhd. (“TG Efficient”) Group, is as follows:
On 30 June 2021, the Company, through its wholly-owned subsidiary, Top Care Sdn. Bhd., incorporated TG Group
Efficient under the Companies Act 2016 with an issued and paid up capital of RM10,000 comprising 10,000 2021 2020
ordinary shares. Top Care Sdn. Bhd. owns the entire issued and paid-up share capital of TG Efficient upon RM’000 RM’000
which, TG Efficient became a wholly-owned indirect subsidiary of the Company.
Assets and liabilities
(c) Accretion of equity interest in TG Raytech Sdn. Bhd. (“TG Raytech”) Non-current assets 250,017 250,019
Current assets 5,258 4,285
On 9 April 2021, TG Raytech issued 20,200,000 ordinary shares, which was fully subscribed by TG Medical
Sdn. Bhd. for a cash consideration of RM20,200,000, increasing TG Medical Sdn. Bhd.’s equity interest in TG Total assets 255,275 254,304
Raytech from 97.5% to 98.9%. The accretion of equity interest is not expected to have material effects on the
financial position of the Group. Non-current liabilities - (195,955)
Current liabilities (206,870) (19,737)
(d) Non-controlling interests
Total liabilities (206,870) (215,692)
Summarised financial information for non-controlling interests has not been disclosed as the carrying amount
of the non-controlling interests in the consolidated statements of financial position is immaterial to the Group. Net assets 48,405 38,612
Results
Revenue 8,027 9,713
Profit/(loss) for the year 9,793 (5,289)

OUR PERFORMANCE

20. INVESTMENT IN AN ASSOCIATE (CONT’D) 21. DEFERRED TAX LIABILITIES/(ASSETS) (CONT’D)
Reconciliation of the summarised financial information presented above to the carrying amount of the Group’s interest in The unabsorbed capital allowances and other deductible temporary differences of the Group are available indefinitely for
an associate: offsetting against future taxable profits of the respective entities within the Group, subject to tax laws and guidelines issued
by the tax authority enacted at the reporting date.
Group
On the other hand, effective from year of assessment 2019 as announced in the annual budget 2019, the unutilised tax
2021 2020 losses of the Group as at 31 August 2019 and thereafter will only be available for carry forward for a period of 7 consecutive
RM’000 RM’000 years. Upon expiry of the 7 years, the unutilised losses will be disregarded.
Net assets of the associate as at 1 September 2020/2019 38,612 43,901 The unutilised tax losses, unabsorbed capital allowances and other deductible temporary differences applicable to foreign
Profit/(loss) for the year 9,793 (5,289) incorporated subsidiaries are pre-determined by and subject to the tax legislation of the respective countries.
Net assets of the associate as at 31 August 48,405 38,612
Deferred tax assets have not been recognised by the Group and the Company in respect of the following items:
Group’s share of net assets 13,069 10,425
Group Company
21. DEFERRED TAX LIABILITIES/(ASSETS) 2021 2020 2021 2020
RM’000 RM’000 RM’000 RM’000
Deferred income tax as at 31 August 2021 and 2020 relates to the following:
Unutilised tax losses 2,871 5,007 1,383 1,383
Unabsorbed capital allowances 294 2,198 21 14
Deferred tax liabilities Deferred tax assets
Other deductible temporary differences 1,492 10 1,491 10
Unabsorbed
export 4,657 7,215 2,895 1,407
Property, allowance,
plant and business Deferred tax assets have not been recognised by the Group and the Company in respect of these items as it is not probable
equipment losses, that taxable profits of the Company and its subsidiaries would be available against which deductible temporary differences
and capital and could be utilised.
right-of-use reinvestment
assets Others allowance Others Total
22. INVESTMENT SECURITIES
RM’000 RM’000 RM’000 RM’000 RM’000
Group Group Company

2021 2020 2021 2020
At 1 September 2019 150,838 12,512 (62,108) - 101,242
RM’000 RM’000 RM’000 RM’000
Recognised in profit or loss (Note 14) 33,776 (479) 23,074 (35,479) 20,892
Exchange differences - - - 265 265 Current
At 31 August 2020/1 September 2020 184,614 12,033 (39,034) (35,214) 122,399 Money market funds (quoted in Malaysia)
Recognised in profit or loss (Note 14) 61,988 (2,130) 20,873 (28,539) 52,192 - Financial assets at fair value through profit or
Exchange differences - - - (464) (464) loss 1,323,297 1,674,631 578,568 709,075
At 31 August 2021 246,602 9,903 (18,161) (64,217) 174,127
Debt securities (quoted outside Malaysia)
Presented after appropriate offsetting as follows:
- Financial assets at fair value through OCI 103,423 - 4,288 -
- Financial assets at fair value through profit or
Group
loss 203,199 - 93,019 -
2021 2020
306,622 - 97,307 -
RM’000 RM’000
1,629,919 1,674,631 675,875 709,075
Deferred tax assets (17,073) (19,589)
Non-current
Deferred tax liabilities 191,200 141,988
174,127 122,399 Unquoted investments: Golf club membership
- Financial assets at fair value through profit or
loss 392 392 - -
Total investment securities 1,630,311 1,675,023 675,875 709,075

OUR PERFORMANCE

23. INTANGIBLE ASSETS 23. INTANGIBLE ASSETS (CONT'D)
Customer Key assumptions used in value-in-use calculations

Goodwill relationship Patent Total
RM’000 RM’000 RM’000 RM’000 The recoverable amount of a CGU is determined based on value-in-use calculations using cash flow projections based on
financial budgets approved by management.
Group
The following describes each key assumption on which management has based its cash flow projections to undertake
Cost impairment testing of goodwill and customer relationship:
At 1 September 2019 980,691 40,477 16 1,021,184 (i) Growth rate for the 5 years projection is determined based on the management’s estimate on the industry trends and
Additions - - 32 32 past performances of the segments, thereafter terminal growth rate is assumed to be 1% (2020: 0%).
At 31 August 2020/1 September 2020 980,691 40,477 48 1,021,216
(ii) An average pre-tax discount rate of 12.78% (2020: 14.04%) was applied in determining the recoverable amount of
Additions - - 207 207
the unit. The discount rate was estimated based on a weighted average cost of capital of the Company.
At 31 August 2021 980,691 40,477 255 1,021,423
The Group is of the opinion that any reasonably possible change in the above key assumptions would not materially cause
Accumulated amortisation the recoverable amount of the CGUs to be lower than its carrying amount, other than the goodwill of Aspion Sdn. Bhd. as
disclosed below.
At 1 September 2019 - 5,213 1 5,214
Amortisation during the year (Note 11) - 3,680 3 3,683 Sensitivity to changes in key assumptions
At 31 August 2020/1 September 2020 - 8,893 4 8,897
The sensitivity test indicated that changes in the discount rate used in the value-in-use calculation of Aspion Sdn. Bhd.
Amortisation during the year (Note 11) - 3,680 51 3,731
will result in the recoverable amount to equal to the corresponding carrying amounts of the goodwill and related assets,
At 31 August 2021 - 12,573 55 12,628 assuming no change in other variables, is as follows:
Net carrying amount Increase in discount rate 2.8%
Customer relationship
At 31 August 2020 980,691 31,584 44 1,012,319
The cost of customer relationship with estimated economic definite useful life is amortised over a period of 11 years, with
At 31 August 2021 980,691 27,904 200 1,008,795 remaining amortisation period of 7 years (2020: 8 years).
Patent
Goodwill has been allocated to CGUs identified as follows:
The cost of patent with estimated economic definite useful life is amortised over a period ranging from 9 to 20 years
Group (2020: 9 to 17 years), with remaining amortisation period ranging from 6 to 19 years (2020: 7 to 17 years).
2021 2020
RM’000 RM’000
Aspion Sdn. Bhd. 933,954 933,954

Eastern Press Sdn. Bhd. 21,597 21,597
B Tech Industry Co. Ltd. 14,789 14,789
GMP Medicare Sdn. Bhd. 5,070 5,070
Top Glove Medical (Thailand) Co. Ltd. 2,946 2,946
Duramedical Sdn. Bhd. 2,335 2,335
980,691 980,691

OUR PERFORMANCE

24. INVENTORIES 25. TRADE AND OTHER RECEIVABLES (CONT’D)
Group Company
2021 2020 2021 2020
RM’000 RM’000 RM’000 RM’000
Cost Other receivables

Raw materials 165,069 130,605 Amounts due from subsidiaries 261,137 605,844
Consumables and hardware 4,236 6,610 Sundry receivables 548 -
Work-in-progress 89,876 83,692 Total other receivables 261,685 605,844
Finished goods 734,885 301,551

Total other receivables 261,685 605,844
994,066 522,458
Add: Cash and bank balances (Note 28) 5,555 257,481
Net realisable value
Financial assets at amortised cost 267,240 863,325
Raw materials 10,246 214
Work-in-progress 10,077 6,746 (a) Trade receivables
Finished goods 130,316 1,311
150,639 8,271 Trade receivables are non-interest bearing and are generally on 30 to 90 days (2020: 30 to 90 days) terms. Other credit
terms are assessed and approved on a case-by-case basis. They are recognised at their original invoice amounts
1,144,705 530,729 which represent their fair values on initial recognition.
During the year, the amount of inventories recognised as an expense of the Group amounted to RM5,259 million Ageing analysis of trade receivables
(2020: RM4,387 million).
An ageing analysis of the trade receivables as at 31 August 2021 and 2020, based on the invoice date and net of loss
allowance, is as follows:
25. TRADE AND OTHER RECEIVABLES
Group
Group 2021 2020
2021 2020 RM’000 RM’000
RM’000 RM’000
1 to 30 days 209,863 486,809
Trade receivables 31 to 60 days 120,535 201,909
Third parties 542,485 772,250 61 to 90 days 113,349 68,215
Less: Allowance for expected credit loss (1,189) (1,146) 91 to 120 days 73,199 4,970
Trade receivables, net 541,296 771,104 More than 121 days 24,350 9,201
541,296 771,104
Other receivables
The ageing analysis by due date of the Group’s trade receivables is as follows:
Sundry receivables 18,713 19,440
Refundable deposits 6,290 8,261 Group
25,003 27,701 2021 2020
Total trade and other receivables 566,299 798,805 RM’000 RM’000
Neither past due nor impaired 312,462 597,534

Total trade and other receivables 566,299 798,805
1 to 30 days past due not impaired 54,230 165,854
Add: Cash and bank balances (Note 28) 878,446 1,208,559
31 to 60 days past due not impaired 34,092 7,053
Financial assets at amortised cost 1,444,745 2,007,364
61 to 90 days past due not impaired 36,714 208
91 to 120 days past due not impaired 35,653 85
More than 121 days past due not impaired 68,145 370
228,834 173,570
Impaired 1,189 1,146
542,485 772,250

OUR PERFORMANCE

25. TRADE AND OTHER RECEIVABLES (CONT’D) 26. OTHER CURRENT ASSETS
(a) Trade receivables (cont’d) Group Company

2021 2020 2021 2020
Receivables that are neither past due nor impaired
RM’000 RM’000 RM’000 RM’000
Trade and other receivables that are neither past due nor impaired are creditworthy debtors with good payment Prepaid operating expenses 39,368 34,337 3,432 11
records and are mostly regular customers that have been transacting with the Group.
Goods and service tax refundable 22,414 14,526 - -
None of the Group’s trade receivables that are neither past due nor impaired have been renegotiated during the Advances to suppliers for raw materials 7,605 7,439 - -
financial year. Advances to suppliers for property, plant
and equipment 48,787 18,582 - -
Receivables that are past due but not impaired 118,174 74,884 3,432 11
The Group has trade receivables amounting to RM228,834,000 (2020: RM173,570,000) that are past due at the
reporting date but not impaired. These receivables are unsecured in nature. 27. DERIVATIVE FINANCIAL INSTRUMENTS
Receivables that are impaired

Group
Receivables that are determined to be impaired at the reporting date when one or more events that have a detrimental 2021 2020
impact on the estimated cash flow have occurred. These instances include adverse changes in the financial capability RM’000 RM’000
of the debtors and default or significant delays on payments. These receivables are not secured by any collateral or Contract/ Contract/
credit enhancements. Notional Notional
amount Fair value amount Fair value
Allowance for expected credit loss
Forward currency contracts
For receivables that are individually determined to be credit impaired at the reporting date, individual lifetime expected - Derivative financial assets 175,464 2,411 269,247 45
credit loss is recognised.
- Derivative financial liabilities 53,947 (230) - -
For receivables that are not individually credit impaired, the Group uses the provision matrix method to measure
As at 31 August 2021, the Group held forward currency contracts designated as hedges of expected future sales to
lifetime expected credit loss where the receivables are grouped based on shared credit risk characteristics and days
customers for which the Group has firm commitments. Forward currency contracts used to hedge the Group’s sales
past due. The calculation reflects the probability-weighted outcome, the time value of money and reasonable and
are denominated in United States Dollars (“USD”) and Euro for which firm commitments existed at the reporting date,
supportable information that is available at the reporting date about past events, current conditions and forecasts of
extending to January 2022 (2020: November 2020).
future economic conditions. The Group assessed that the amount of the allowance on these balances is insignificant.
During the financial year, the Group recognised a gain of RM2,143,000 (2020: gain of RM1,703,000) in profit or loss arising
Movements in the allowance accounts:
from changes in the fair value of the forward currency contracts.
Group
2021 2020
RM’000 RM’000
At 1 September 2020/2019 1,146 2,809

Written off - (1,184)
Allowance for expected credit loss during the year - 272
Reversal of allowance for expected credit loss during the year (13) (499)
Exchange differences 56 (252)
At 31 August 1,189 1,146
(b) Related party balances
Amounts due from subsidiaries are unsecured, non-interest bearing and are repayable on demand except for an
amount of RM241,114,000 (2020: RM605,641,000) which bears interest ranging from 0.54% to 2.62% (2020: 2.63%
to 4.00%) per annum

OUR PERFORMANCE

28. CASH AND BANK BALANCES 29. LOANS AND BORROWINGS
Group Company Group

2021 2020 2021 2020 2021 2020
RM’000 RM’000 RM’000 RM’000 Maturity RM’000 RM’000
Cash on hand and at banks 703,921 1,090,505 5,555 257,481 Current

Deposits with licensed banks and other financial Secured:
institutions 174,525 118,054 - - RM Term loan 2021 - 2,041
Cash and bank balances 878,446 1,208,559 5,555 257,481
Less: Unsecured:
Deposits pledged with banks with maturity of USD Revolving credit 2022 10,308 -
more than 3 months (3,248) (2,883) - -
EUR Revolving credit 2022/2021 179,526 176,878
Monies held in debt service reserve account for
JPY Revolving credit 2022/2021 88,902 91,430
credit facility - (729) - -
RM Revolving credit 2021 - 1,900
Cash and cash equivalents 875,198 1,204,947 5,555 257,481
THB Promissory notes 2022/2021 3,203 37,974
Deposits with licensed banks and other financial institutions of the Group amounting to RM3,248,000 EUR Term loan 2022 20,067 -
(2020: RM2,883,000) are pledged to banks for credit facilities granted to the Group. USD Term loan 2022 6,948 -
RM Term loan 2022/2021 3,750 3,976
Included in cash and bank balances in the previous financial year was an amount of RM729,000 pledged to a financial
institution for credit facility granted to the Group as disclosed in Note 29(a), hence was not available for general use. 312,704 312,158
Total current loans and borrowings 312,704 314,199
The weighted average effective interest rates and maturity days of deposits with licensed banks and other financial
institutions at the reporting date were as follows:
Non-current
Secured:
Group
RM Term loan 2023 - 4,220
2021 2020
Weighted average effective interest rates 1.10% 0.24% Unsecured:

Maturity days 7 to 217 days 21 to 518 days RM Term loan 2023/2023 - 2025 938 8,034
EUR Term loan 2025 68,633 64,606
USD Term loan 2025 76,431 30,891
THB Term loan 2025 - 9,026
USD Exchangeable bonds 2024 - 109,563
146,002 222,120
Total non-current loans and borrowings 146,002 226,340
Total loans and borrowings 458,706 540,539
The range of interest rates at the reporting date for borrowings are as follows:
2021 2020
Promissory notes 1.1% 1.1% to 2.0%

Revolving credit 0.3% to 2.0% 0.3% to 3.9%
Term loan 0.8% to 4.4% 0.9% to 4.4%
Exchangeable bonds Nil 3.8%

OUR PERFORMANCE

29. LOANS AND BORROWINGS (CONT’D) 29. LOANS AND BORROWINGS (CONT’D)
The remaining maturities of the loans and borrowings are as follows: (b) The principal features of the Bonds which mature on 1 March 2024 (“maturity date”) are as follows (cont’d):
Group (v) Redemption at the option of issuer

At any time on or after 16 March 2022, but not less than seven business days prior to the Maturity Date, in
2021 2020
whole but not in part, at the Early Redemption Amount together with accrued but unpaid interest if the closing
RM’000 RM’000
price of the Company’s shares on Bursa Malaysia Securities Berhad for each of 20 consecutive trading days in
On demand or within one year 312,704 314,199 any 30 consecutive trading day period, the last of which occurs not more than 5 trading days prior to the date
upon which notice of such redemption was given, is at least 130% of the applicable Early Redemption Amount
More than one year and less than two years 56,189 134,154
divided by the Exchange Ratio, in effect on such trading day.
More than two years and less than five years 89,813 89,633
More than five years - 2,553 At any time, in whole but not in part, at the Early Redemption Amount together with accrued but unpaid interest
458,706 540,539 in the event the principal amount of the Bonds outstanding is 10% or less of the aggregate principal amount
originally issued.
(a) In the previous financial year, the RM term loan of the Group was secured by monies held in debt service reserve
account of the Group with a financial institution as disclosed in Note 28. (vi) Redemption at the option of bondholders
Upon the occurrence of the following events, the bondholders may be entitled to exercise a right prior to the
(b) On 1 March 2019, Top Glove Labuan Ltd., a wholly-owned subsidiary of the Company issued USD200 million maturity date to require the Issuer to redeem all or part of the Bonds in cash:
(approximately RM814.40 million) in aggregate principal amount of 2.0% Guaranteed Exchangeable Bonds which is
due in 2024 (the “Bonds”). (a) On 1 March 2022, in whole or in part, at 105.50% of their principal amount together with accrued but
unpaid interest.
During the year, the principal amount of USD25,646,000 (2020: USD174,354,000) exchangeable bonds were
converted into 50,351,869 (2020: 116,339,801) ordinary shares of the Company at the option of the bondholders. (b) Following the occurrence of a change of control, the bondholders will have the right at such holder’s option,
to require the Issuer to redeem in whole but not in part such holders’ Bonds at their early redemption
The weighted average effective interest rates as at 31 August 2021 for exchangeable bonds is nil (2020: 3.8%) per amount, together with accrued but unpaid interest.
annum.
(c) In the event the Company’s shares cease to be listed or admitted to trading on Bursa Malaysia Securities
Each bond entitles its registered holder to exchange for fully paid ordinary shares of the Company, at an adjusted Berhad and are not listed on an Alternative Stock Exchange or, if applicable, cease to be listed or admitted
exchange price of RM6.10 per share at a fixed exchange rate of USD1.00 = RM4.0703. The exchange price is subject to trading on an Alternative Stock Exchange, or are suspended for a period equal to or exceeding 45
to adjustments in accordance with the terms and conditions of the Bonds as set out in the offering circular dated 20 consecutive days on Bursa Malaysia Securities Berhad or an Alternative Stock Exchange, as the case
February 2019. may be, each bondholder shall have the right at such bondholders’ option to require the Issuer to redeem
all (but not less than all) of such bondholders’ Bonds at their early redemption amount, together with
On 7 September 2020, the Company completed the bonus issue of two for every one existing ordinary share held in accrued but unpaid interest.
the Company, subsequent to which the conversion of exchangeable bonds were at an adjusted exchange price of
RM2.03 per share. (vii) Final redemption
All Bonds which are not redeemed, exchanged, or purchased and cancelled in the manner allowed pursuant
The net proceeds from the issue of the Bonds were utilised to refinance the existing debt of the related companies to the terms and conditions of the Bonds shall be redeemed in cash by the Issuer on 1 March 2024 at the
and payment of fees and expenses relating to the Bonds issue. redemption price together with accrued but unpaid interest.
The principal features of the Bonds which mature on 1 March 2024 (“maturity date”) are as follows:
(i) The Bonds bear interest at the rate of 2.0% calculated semi-annually and payable on 1 March and 1 September
each year.
(ii) The Bonds are unconditionally and irrevocably guaranteed by the Company and are subject to negative pledge.
(iii) Redemption price at maturity is 109.53%. The redemption price was determined based on the issue price,
coupon rate and yield of the Bonds.
(iv) Early redemption amount

An amount which, for each USD1,000 principal amount of such Bonds, together with accrued but unpaid
interest from the immediately preceding interest payment date and after taking into account any interest paid in
respect of the Bonds in the preceding periods, represents for the bondholder on the relevant date a gross yield
of 3.75% per annum calculated on a semi-annual basis.

OUR PERFORMANCE

30. TRADE AND OTHER PAYABLES 31. CONTRACT LIABILITIES
Contract liabilities represent advance payments received from customers. These advances are refundable to the customers
Group Company
shall the customers choose to cancel their orders.
2021 2020 2021 2020
RM’000 RM’000 RM’000 RM’000 The movement of contract liabilities is as follows:
Trade payables 228,255 357,057 - -
Group
2021 2020
Other payables
RM’000 RM’000
Accrued operating expenses 292,364 273,206 22,935 2,091
Sundry payables 171,742 180,561 125 480 At 1 September 2020/2019 879,386 55,610
464,106 453,767 23,060 2,571 Revenue recognised during the year (6,342,444) (2,136,632)
Total trade and other payables 692,361 810,824 23,060 2,571 Advance payments received during the year 6,199,058 2,960,536
Exchange differences 1,627 (128)
Total trade and other payables 692,361 810,824 23,060 2,571 At 31 August 737,627 879,386
Add: Loans and borrowings (Note 29) 458,706 540,539 - -
Lease liabilities (Note 32) 23,669 11,114 366 438
32. LEASE LIABILITIES
Total financial liabilities carried at amortised cost 1,174,736 1,362,477 23,426 3,009
Group as a lessee
(a) Trade payables
The Group and the Company have lease contracts for land, buildings, motor vehicles and equipment with lease terms
An ageing analysis of the trade payables as at 31 August 2021 and 2020, based on the invoice date, is as follows: between 2 to 47 years and include extension options.
Group The Group and the Company also have certain leases of hostels, photocopiers, ambulance and ATM with lease terms of
12 months or less or of low value. The Group and the Company apply the “short-term lease” and “lease of low-value
2021 2020
assets” recognition exemptions for these leases.
RM’000 RM’000
1 to 30 days 160,897 239,090 Group Company

31 to 60 days 31,094 66,635 2021 2020 2021 2020
61 to 90 days 34,516 43,244 RM’000 RM’000 RM’000 RM’000
More than 90 days 1,748 8,088 At 1 September 2020/2019 11,114 13,551 438 -
228,255 357,057 Additions 8,754 77 - 467
Accretion of interest 683 518 16 7
These amounts are non-interest bearing. The normal trade credit term granted to the Group ranges from 30 to 90
days (2020: 30 to 90 days). Payments (4,947) (2,248) (88) (36)
Adjustment due to lease modification 8,328 - - -
(b) Other payables Exchange differences (263) (784) - -
At 31 August 23,669 11,114 366 438
These amounts are non-interest bearing. Other payables are normally settled on an average term of 30 to 90 days
(2020: 30 to 90 days).
Analysed into:
Included in accrued operating expenses are remediation costs amounting to nil (2020: RM131,391,000) for recruitment Repayable within 12 months 5,542 1,442 74 72
fees previously paid by the migrant workers to the agents or other parties. Detailed information in relation to the
Repayable after 12 months 18,127 9,672 292 366
payment of these fees is disclosed in Note 48(b).
23,669 11,114 366 438
The maturity analysis of lease liabilities for the financial years ended 31 August 2021 and 2020 is disclosed in Note 42(c).


OUR PERFORMANCE

32. LEASE LIABILITIES (CONT’D) 34. TREASURY SHARES
The amounts recognised in profit or loss in relation to leases are as follows: This amount relates to the acquisition cost of treasury shares net of the proceeds received on their subsequent sale or
issuance.
Group Company
The shareholders of the Company, by an ordinary resolution passed in the annual general meeting held on 8 January 2020,
2021 2020 2021 2020
renewed their approval for the Company's plan to repurchase its own shares. The directors of the Company are committed
RM’000 RM’000 RM’000 RM’000
in enhancing the value of the Company to its shareholders and believe that the Share Buy Back can be applied in the best
Depreciation of right-of-use assets (Note 11) 8,215 4,361 77 33 interests of the Company and its shareholders.
Interest expense on lease liabilities 683 518 16 7
During the financial year:
Expenses related to short-term, low-value
and variable leases 9,580 6,267 - 51 (i) the Company repurchased 200,167,700 ordinary shares from the open market at an average price of RM7.11 per
Total amount recognised in profit or loss 18,478 11,146 93 91 share. The total consideration paid for the repurchase including transaction costs was RM1,424,095,000.
The Group and the Company had total cash outflows for leases amounting to RM14,527,000 and RM88,000 respectively (ii) the Company transferred 2,238,700 treasury shares to eligible employees under the ESGP at an average market price
for the financial year ended 31 August 2021 (2020: RM8,515,000 and RM87,000 respectively). of RM3.86 per share. The total transferred treasury shares net of transaction costs were RM8,641,000. The difference
between the transferred treasury shares and the cost of the treasury shares which amounted to RM3,699,000 was
The Group has several lease contracts that include extension and termination options. These options are negotiated by recognised in equity.
management to provide flexibility in managing the leased-asset portfolio and align with the Group’s business needs.
In the previous financial year, the Company transferred 114,000 treasury shares to eligible employees under the ESGP
at an average market price of RM9.89 per share. The total transferred treasury shares net of transaction costs were
33. SHARE CAPITAL RM1,128,000. The difference between the transferred treasury shares and the cost of the treasury shares which amounted
to RM866,000 was recognised in equity.
Group and Company
2021 2020 Of the total 8,206,864,000 (2020: 2,708,825,000) issued and fully paid ordinary shares as at 31 August 2021, 199,913,800
Number of Monetary Number of Monetary (2020: 661,600) are held as treasury shares by the Company. As at 31 August 2021, the number of outstanding ordinary
shares value shares value shares in issue and fully paid is therefore 8,006,950,200 (2020: 2,708,163,400) ordinary shares.
’000 RM’000 ’000 RM’000
Issued and fully paid

At 1 September 2020/2019 2,708,825 1,675,704 2,560,589 788,326
Bonus issue 5,418,718 - - -
Exercise of ESOS (Note 38(i)) 28,969 58,061 31,896 167,230
Conversion of exchangeable bonds to ordinary
shares (Note 29) 50,352 104,387 116,340 709,673
Transfer from share option reserve - 4,002 - 10,892
Transaction cost - (500) - (417)
At 31 August 8,206,864 1,841,654 2,708,825 1,675,704
During the financial year, the Company increased its issued and paid-up ordinary share capital by way of:
(i) issuance of 5,418,718,116 ordinary shares through a bonus issue on the basis of two new ordinary shares for every
one existing ordinary share held in the Company, by way of nil consideration;
(ii) issuance of 28,968,800 (2020: 31,896,100) ordinary shares pursuant to the Company’s ESOS at an exercise price
between RM1.54 to RM6.55 (2020: between RM4.63 to RM12.75) per ordinary share; and
(iii) conversion of 50,351,869 (2020: 116,339,801) units of 5-year Guaranteed Exchangeable Bonds 2019/2024
(equivalent to RM104,387,000 (2020: RM709,673,000) based on a settlement rate of USD1.00:RM4.0703) into
533,809 and 49,818,060 new ordinary shares at an adjusted exchange price of RM6.10 and RM2.03 respectively
(2020: 116,339,801 new ordinary shares at an adjusted exchange price of RM6.10).
The new ordinary shares issued during the financial year ranked pari passu in all respects with the existing ordinary shares
of the Company.

OUR PERFORMANCE

35. OTHER RESERVES 35. OTHER RESERVES (CONT’D)
Foreign Share Cash flow Fair value (a) Foreign exchange reserve
exchange Legal option hedge adjustment Others
reserve reserve reserve reserve reserve reserve Total The foreign currency translation reserve is used to record exchange differences arising from the translation of
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 the financial statements of foreign operations whose functional currencies are different from that of the Group’s
presentation currency. It is also used to record the exchange differences arising from monetary items which form part
Group of the Group’s net investment in foreign operations, where the monetary item is denominated in either the functional
currency of the reporting entity or the foreign operation.
At 1 September 2019 51,628 10,088 8,995 (80,291) 2,084 5,926 (1,570)
Other comprehensive (b) Legal reserve
(loss)/income (7,079) - - 77,601 (2,084) - 68,438
Share options granted This represents a general reserve provided for in respect of subsidiaries incorporated in the People’s Republic of
under ESOS - - 7,404 - - - 7,404 China and Thailand.
Transfer from share option

Under the Wholly Foreign Owned Enterprise (“WFOE”) Law in the People’s Republic of China, at least 10% of the net
reserve - - (11,080) - - - (11,080)
profit after taxation in each financial year must be credited to this reserve, until it reaches 50% of the registered paid
Transfer from retained up capital of the subsidiary.
earnings - - - - - 1,848 1,848
At 31 August 2020/ Under the Civil and Commercial Code in Thailand, a company is required to set aside a statutory reserve equal to
1 September 2020 44,549 10,088 5,319 (2,690) - 7,774 65,040 at least 5% of its net profit each time when the company pays out a dividend, until it reaches 10% of the registered
Other comprehensive share capital of the company.
(loss)/income (19,621) - - 2,690 1,844 - (15,087)
(c) Share option reserve
Share options granted
under ESOS - - 33,983 - - - 33,983
The share option reserve represents the equity-settled share options granted to employees. This reserve is made up
Transfer from share option of the cumulative value of services received from employees recorded on grant of share options.
reserve - - (4,706) - - - (4,706)
Transfer from retained (d) Fair value adjustment reserve
earnings - - - - - 4,952 4,952
Transfer to legal reserve - 17,481 - - - - 17,481 Fair value adjustment reserve represents the differences arising from the conversion of bond reserves to fair value
through OCI.
At 31 August 2021 24,928 27,569 34,596 - 1,844 12,726 101,663
(e) Cash flow hedge reserve
Fair value
Share option adjustment The cash flow hedge reserve represents the effective portion of the cash flow hedge relationships incurred at the
reserve reserve Total reporting date.
RM’000 RM’000 RM’000

Company
At 1 September 2019 8,995 - 8,995

Share options granted under ESOS 7,404 - 7,404
Transfer from share option reserve (11,080) - (11,080)
At 31 August 2020/1 September 2020 5,319 - 5,319
Other comprehensive income - 144 144
Share options granted under ESOS 33,983 - 33,983
Transfer from share option reserve (4,706) - (4,706)
At 31 August 2021 34,596 144 34,740

OUR PERFORMANCE

36. PERPETUAL SUKUK 36. PERPETUAL SUKUK (CONT’D)
Group The salient features of the Perpetual Sukuk are as follows (cont’d):
2021 2020
(c) The initial periodic distribution rate is 3.95% per annum, subject to reset every 5 years at the prevailing 5-year
RM’000 RM’000
Malaysian Government Securities rate, initial credit spread of 1.209% and stepped up margin of 1.000%.
Issuance nominal value 1,300,000 1,300,000
(d) The periodic distribution amount is payable five years from the issue date of the respective tranche and every five
Less: Transaction cost (4,738) (4,738)
years thereafter.
Net nominal value 1,295,262 1,295,262
(e) TGE may, at its sole discretion, opt to (i) defer the periodic distribution or (ii) further defer any outstanding arrears of
On 22 January 2020, the Company’s wholly-owned subsidiary, TG Excellence Berhad (“TGE”) lodged the Perpetual Sukuk deferred periodic distribution, provided that it has not during the last six months declared or paid any dividend or
Programme with the Securities Commission Malaysia (“SC”). The Perpetual Sukuk Programme, under the Shariah principle payment or other distributions in respect of or redeem or repurchase its ordinary shares or any other securities of TGE
of Wakalah Bi Al-Istithmar, is guaranteed by the Company via a subordinated guarantee. The Perpetual Sukuk Programme ranking junior to or pari passu with the Perpetual Sukuk. The deferred periodic distribution, if any, will be cumulative
provides TGE with the flexibility to issue unsecured and subordinated perpetual sukuk from time to time, subject to the and will not earn additional profits (i.e. there will be no compounding of the periodic distribution being deferred). There
aggregate outstanding nominal amount not exceeding RM3.0 billion at any point in time. is no limit as to the number of times the expected periodic amount and the arrears of deferred periodic distribution
can be deferred.
On 27 February 2020, TGE completed the first issuance with a nominal value of RM1.3 billion under the Perpetual Sukuk
Programme. The Perpetual Sukuk was issued with a tenure of perpetual non-callable 5 years with an initial periodic (f) Notwithstanding the optional deferral stipulated in (e) above, all outstanding arrears of deferred periodic distribution
distribution rate of 3.95% per annum. shall be due and payable within fifteen days from the date TGE declared or paid any dividend or payment or other
distributions in respect of or redeem or repurchase its ordinary shares or any other securities of TGE ranking junior to
The proceeds raised from the issuance of the Perpetual Sukuk are allowed to be utilised by the Group to refinance the or pari passu with the Perpetual Sukuk.
existing financing and debt obligations, repayment of intercompany borrowings, capital expenditure, working capital
requirements and general corporate purposes. All utilisation of proceeds shall be Shariah-compliant.
37. RETAINED EARNINGS
Under the Perpetual Sukuk Programme, TGE may, at its sole discretion, redeem the Perpetual Sukuk pursuant to certain
redemption events. The Company may distribute dividends out of its entire retained earnings as at 31 August 2021 and 2020 under the single
tier system.
There are no events of default or dissolution events which will entitle the sukuk holders to declare any or all amounts under
the Perpetual Sukuk Programme to be immediately due and payable, save for certain enforcement events, as described
below. 38. SHARE BASED PAYMENTS
The Perpetual Sukuk Programme has been accorded an indicative credit rating of AA-IS (cg) by Malaysian Rating (i) ESOS
Corporation Berhad.
The Company’s ESOS is governed by the By-Laws which was approved by the shareholders at the Extraordinary
The salient features of the Perpetual Sukuk are as follows: General Meeting held on 9 January 2018 and became effective on 2 August 2018.
(a) The Perpetual Sukuk shall constitute direct, unsecured, unconditional and subordinated obligations of TGE and The main features of the ESOS are as follows:
shall at all times rank (i) below all present and future creditors of TGE; (ii) pari passu with any instrument issued or
guaranteed by TGE that ranks pari passu with the Perpetual Sukuk; and (iii) ahead of any class of TGE's share capital, (a) The ESOS shall be in force for a period of ten years from the date of the receipt of the last of the requisite
including without limitation, any ordinary shares. approvals.
(b) Being perpetual in nature, TGE has a call option to redeem the Perpetual Sukuk under the following circumstances: (b) Eligible persons are employees of the Group (including executive directors) who have been confirmed in the
employment of the Group. The eligibility for participation in the ESOS shall be at the discretion of the Options
(i) Optional redemption at the first call date of the Perpetual Sukuk and on each periodic distribution date of the Committee appointed by the Board of Directors.
expected distribution amount thereafter.
(c) The total number of shares to be issued under the ESOS shall not exceed in aggregate 10% of the issued and
(ii) Accounting event - change in accounting standards resulting in Perpetual Sukuk no longer being recognised as paid up share capital of the Company at any point of time during the tenure of the ESOS.
an equity instrument.
(d) The option price for each share shall be the 5-days weighted average market price of the underlying shares
(iii) Tax event - if the expected periodic distribution of the profit would not be fully tax deductible or TGE become before the ESOS Options are granted, with either a premium or a discount of not more than ten percent (10%).
obligated to pay additional tax due to changes in tax laws or regulations.
(e) No option shall be granted for less than 100 shares to any eligible employee.
(iv) Rating event - change in rating methodology by the rating agency that results in a lower equity credit for the
relevant tranche of the Perpetual Sukuk.

OUR PERFORMANCE

38. SHARE BASED PAYMENTS (CONT’D) 38. SHARE BASED PAYMENTS (CONT’D)
(i) ESOS (cont’d) (i) ESOS (cont’d)
The main features of the ESOS are as follows (cont’d): The terms of share options outstanding as at end of the financial year are as follows (cont’d):
(f) An option granted under the ESOS shall be capable of being exercised by the grantee by notice in writing to the Number of share options over the ordinary share
Company commencing from the vest date but before the expiry on 31 May 2028.
Exercise As at As at
Grant Expiry price 1.9.2019 Granted Exercised Lapsed 31.8.2020
(g) All new ordinary shares issued upon exercise of the options granted under the ESOS will rank pari passu in
date date RM ’000 ’000 ’000 ’000 ’000
all respect with the existing ordinary shares of the Company other than as may be specified in a resolution
approving the distribution of dividends prior to their exercise dates. 2020
(h) No eligible person shall participate at any time in more than one share option scheme implemented by any 2.8.2018 31.5.2028 5.06 5,986.3 - (4,218.0) (150.5) 1,617.8
company within the Group unless otherwise approved by the Options Committee. 1.2.2019 31.5.2028 4.90 14,246.6 - (9,916.3) (269.0) 4,061.3
18.2.2019 31.5.2028 4.90 261.8 - (106.7) - 155.1
(i) The options shall not carry any right to vote at a general meeting of the Company.
30.7.2019 31.5.2028 4.63 10,978.9 - (9,231.5) (211.1) 1,536.3
The terms of share options outstanding as at end of the financial year are as follows: 20.1.2020 31.5.2028 4.72 - 8,225.9 (5,628.7) - 2,597.2
24.1.2020 31.5.2028 4.76 - 90.1 (90.1) - -
Number of share options over the ordinary share 20.5.2020 31.5.2028 9.89 - 5,120.6 (2,604.8) (8.2) 2,507.6
Balance 1.6.2020 31.5.2028 12.75 - 162.8 (100.0) - 62.8
after
31,473.6 13,599.4 (31,896.1) (638.8) 12,538.1
adjustment
Exercise As at for bonus As at
Details of share options exercised during the financial year and the fair value, at exercise date, of ordinary shares
Grant Expiry price 1.9.2020 issue* Granted Exercised Lapsed 31.8.2021
issued are as follows:
date date RM ’000 ’000 ’000 ’000 ’000 ’000
2021 Fair value Number

Exercise of ordinary of share Considerations
2.8.2018 31.5.2028 1.69 1,617.8 4,853.4 - (3,673.4) - 1,180.0 price shares options received
1.2.2019 31.5.2028 1.63 4,061.3 12,183.9 - (10,370.5) - 1,813.4 Exercise Date RM RM ’000 RM’000
18.2.2019 31.5.2028 1.63 155.1 465.3 - (83.3) (20.0) 362.0
2021
30.7.2019 31.5.2028 1.54 1,536.3 4,608.9 - (3,040.3) - 1,568.6
20.1.2020 31.5.2028 1.57 2,597.2 7,791.6 - (6,730.8) - 1,060.8 September 2020 - August 2021 1.69 3.68 - 9.60 3,673.4 6,208.0
20.5.2020 31.5.2028 3.30 2,507.6 7,522.8 - (4,115.0) (53.3) 3,354.5 September 2020 - August 2021 1.63 3.68 - 9.60 10,370.5 16,903.9
1.6.2020 31.5.2028 4.25 62.8 188.4 - (100.7) (10.5) 77.2 September 2020 - August 2021 1.63 3.68 - 9.60 83.3 135.8
31.1.2021 31.5.2028 6.55 - - 64,456.4 (838.8) (1,667.3) 61,950.3 September 2020 - August 2021 1.54 3.68 - 9.60 3,040.3 4,682.1
6.8.2021 31.5.2028 3.86 - - 19,089.5 (16.0) (49.0) 19,024.5 September 2020 - August 2021 1.57 3.68 - 9.60 6,730.8 10,567.4
12,538.1 37,614.3 83,545.9 (28,968.8) (1,800.1) 90,391.3 September 2020 - August 2021 3.30 3.68 - 9.60 4,115.0 13,579.5
September 2020 - August 2021 4.25 3.68 - 9.60 100.7 428.0
* Bonus issue of two for every one existing ordinary share September 2020 - August 2021 6.55 3.68 - 9.60 838.8 5,494.1
September 2020 - August 2021 3.86 3.68 - 9.60 16.0 61.8
28,968.8 58,060.6

OUR PERFORMANCE

38. SHARE BASED PAYMENTS (CONT’D) 38. SHARE BASED PAYMENTS (CONT’D)
(i) ESOS (cont’d) (ii) ESGP
Details of share options exercised during the financial year and the fair value, at exercise date, of ordinary shares The Company’s ESGP is governed by the By-Laws which was approved by the shareholders at the Extraordinary
issued are as follows (cont’d): General Meeting held on 6 January 2016 and became effective on 12 January 2016 and is administered by the ESGP
Committee.
Fair value Number
Exercise of ordinary of share Considerations Under the ESGP, eligible employees may be granted ESGP Awards comprising shares of the Company. The ESGP
price shares options received Awards, once accepted, will vest without any consideration payable, subject to vesting date(s) and/or vesting
Exercise Date RM RM ’000 RM’000 conditions as may be determined at the discretion of the ESGP Committee. The ESGP Committee may, at its
discretion, decide that any vesting of the Company’s shares comprised in an ESGP Award shall be satisfied through:
2020
(a) the issuance of new shares of the Company;
September 2019 - August 2020 5.06 4.25 - 28.40 4,218.0 21,343.1 (b) the transfer of existing shares of the Company;
September 2019 - August 2020 4.90 4.25 - 28.40 9,916.3 48,589.9 (c) settlement in cash; or
September 2019 - August 2020 4.90 4.25 - 28.40 106.7 522.8 (d) a combination of any of the above
September 2019 - August 2020 4.63 4.25 - 28.40 9,231.5 42,741.8

The main features of the ESGP are as follows:
September 2019 - August 2020 4.72 4.25 - 28.40 5,628.7 26,567.5
September 2019 - August 2020 4.76 4.25 - 28.40 90.1 428.9 (a) The aggregate number of shares of the Company which may be awarded under the ESGP and any other
September 2019 - August 2020 9.89 4.25 - 28.40 2,604.8 25,761.4 schemes involving issuance of new shares of the Company to employees which are still subsisting shall not
exceed 10% of the issued and paid-up share capital of the Company (“Plan Size”).
September 2019 - August 2020 12.75 4.25 - 28.40 100.0 1,275.0
31,896.1 167,230.4 (b) Eligible persons are any employee or executive director of the Group (excluding dormant subsidiaries) who
fulfills the eligibility criteria. The eligibility for participation in the ESGP shall be at the discretion of the ESGP
Fair value of share options Committee appointed by the Board of Directors.
The fair value of share options granted during the year were estimated by using a binomial option pricing model, (c) The number of shares comprised in each ESGP Award shall be determined at the discretion of the ESGP
taking into account the terms and conditions upon which the options were granted. The fair value of share options Committee after taking into consideration, inter alia, the performance and seniority, years of service and
measured at grant date and the assumptions are used as follows: potential for future development of the eligible employees and the employees’ contribution to the Group as well
as such other criteria as the ESGP Committee may deem relevant.
Fair value of share options at the following grant dates (RM):
20 January 2020 0.30 (d) The aggregate number of shares that may be allocated to any one participant shall not exceed 10% of the total
number of shares to be awarded under the ESGP and any other schemes involving issuance of new shares of
24 January 2020 0.30
the Company which may be implemented from time to time by the Company.
20 May 2020 0.91
1 June 2020 1.53 (e) The aggregate maximum allocation to the directors and senior management of the Group (excluding dormant
31 January 2021 0.40 subsidiaries) shall not be more than 75% of the Company’s shares awarded under the ESGP.
6 August 2021 0.43

(f) The ESGP shall be in force for a period of ten years from the effective date of implementation which is the date
Weighted average share price (RM) 3.68 - 13.72 the last of the requisite approvals and/or conditions have been obtained and/or complied with.
Weighted average exercise price (RM) 3.86 - 12.75
Expected volatility (%) 29.64 - 48.60 (g) The shares to be allotted and issued under the ESGP will, upon allotment and issue, rank pari passu in all
respects with the existing shares of the Company, save and except that they will not be entitled to any dividends,
Expected life (years) 6.82 - 8.37
rights, allotments and/or other distributions in respect of which the entitlement date is prior to the date of
Risk free interest rate (%) 2.46 - 3.28 allotment and issuance of the new shares.
Expected dividend yield (%) 1.35 - 17.77
The expected life of the share options is based on historical data and is not necessarily indicative of exercise patterns
that may occur. The expected volatility reflects the assumption that the historical volatility is indicative of future
trends, which may also not necessarily be the actual outcome.

OUR PERFORMANCE

39. RELATED PARTY TRANSACTIONS 40. COMMITMENTS
(a) Sale and purchase of goods (a) Capital commitments
In addition to the related party information disclosed elsewhere in the financial statements, the following significant Group
transactions between the Group and related parties took place at terms mutually agreed between the parties during
2021 2020
the financial year:
RM’000 RM’000
Group Company Property, plant and equipment:

2021 2020 2021 2020 Approved and contracted for 1,041,765 413,071
RM’000 RM’000 RM’000 RM’000
(b) Operating lease arrangements
Gross dividends from subsidiaries - - 6,483,958 1,630,710
Management fees from subsidiaries - - 9,411 5,904 Group as a lessor
Interest income from subsidiaries - - 10,357 5,567
The Group has entered into non-cancellable operating lease agreements on its investment properties and property,
(b) Compensation of key management personnel plant and equipment portfolio. These leases have remaining non-cancellable lease terms between less than 1 year to
3 years (2020: less than 1 year to 2.5 years). Rental income earned from these investment properties and property,
The remuneration of executive directors and other key management personnel during the financial year were as plant and equipment during the financial year is disclosed in Note 10.
follows:
The future minimum lease payments receivables under non-cancellable operating leases contracted for as at the
reporting date but not recognised as receivables, are as follows:
Group Company
2021 2020 2021 2020
Group
RM’000 RM’000 RM’000 RM’000
2021 2020
Salaries and other emoluments 11,787 10,249 3,661 3,693 RM’000 RM’000
Pension costs - defined contribution plan 1,061 809 419 400
Within one year 2,368 2,335
Social security contributions 93 14 1 1
After one year but within two years 1,066 1,349
Share options granted under ESOS 3,004 910 1,757 597
After two years but within five years 545 387
Shares granted under ESGP 224 1 - -
3,979 4,071
Fees 575 569 520 520
Benefits-in-kind 198 261 74 77
16,942 12,813 6,432 5,288

OUR PERFORMANCE

41. FAIR VALUES 41. FAIR VALUES (CONT’D)
(i) Determination of fair value of financial instruments (ii) Fair value hierarchy
Financial instruments that are not carried at fair value and whose carrying amounts are reasonable approximation of The following table provides the fair value measurement hierarchy of the Group’s and the Company’s assets and
fair value liabilities as at reporting date:
The following are classes of financial instruments that are not carried at fair value and whose carrying amounts are Quoted
reasonable approximation of fair value: prices in Significant Significant
active observable unobservable
Note market inputs inputs
Trade and other receivables 25 (Level 1) (Level 2) (Level 3) Total
RM’000 RM’000 RM’000 RM’000
Cash and bank balances 28
Loans and borrowings (current) 29 Group
Loans and borrowings (non-current) 29
Trade and other payables 30
Assets/(liabilities) measured at fair value
The carrying amounts of these financial assets and liabilities are reasonable approximation of fair values, either due to
their short-term nature or that they are floating rate instruments that are re-priced to market interest rates on or near Current
the reporting date. Financial assets at fair value through OCI
(Note 22) 103,423 - - 103,423
The fair values of loans and borrowings are estimated by discounting expected future cash flows at market incremental
Financial assets at fair value through profit
lending rate for similar types of lending, borrowing or leasing arrangements at the reporting date.
or loss (Note 22) 1,526,496 - - 1,526,496
Investment securities (current) Derivative financial assets (Note 27) - 2,411 - 2,411
Derivative financial liabilities (Note 27) - (230) - (230)
Fair value is determined directly by reference to their published market bid price at the reporting date.
Non-current
Investment securities (non-current)
or loss (Note 22) - - 392 392
Fair value is determined based on directors’ estimates using comparable market price of similar golf club memberships.
Investment properties (Note 18) - - 227,400 227,400
Derivative financial instruments Biological assets - - 574 574
Forward currency contracts are valued using a valuation technique with market observable inputs. The most frequently
applied valuation techniques include forward pricing, using present value calculations. The models incorporate
various inputs including the credit quality of counterparties, foreign exchange spot and forward rates.
Assets/(liabilities) measured at fair value
Current
or loss (Note 22) 1,674,631 - - 1,674,631
Derivative financial assets (Note 27) - 45 - 45
Non-current
or loss (Note 22) - - 392 392
Investment properties (Note 18) - - 163,900 163,900
Biological assets - - 28 28

OUR PERFORMANCE

41. FAIR VALUES (CONT’D) 42. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONT’D)
(ii) Fair value hierarchy (cont’d) (b) Credit risk
The following table provides the fair value measurement hierarchy of the Group’s and the Company’s assets and Credit risk is the risk of loss that may arise on outstanding financial instruments should a counterparty default on its
liabilities as at reporting date (cont’d): obligations. The Group’s and the Company’s exposure to credit risk arises primarily from trade and other receivables.
For other financial assets (including debt securities, money market funds, cash and bank balances and derivative
Quoted financial instruments), the Group and the Company minimise credit risk by dealing exclusively with high credit rating
prices in Significant Significant counterparties.
active observable unobservable
market inputs inputs The Group’s objective is to seek continual revenue growth while minimising losses incurred due to increased credit
(Level 1) (Level 2) (Level 3) Total risk exposure. The Group trades only with recognised and creditworthy third parties. It is the Group’s policy that all
RM’000 RM’000 RM’000 RM’000 customers who wish to trade on credit terms are subject to credit verification procedures. In addition, receivable
balances are monitored on an ongoing basis with the result that the Group’s exposure to bad debts is not significant.
Company
Exposure to credit risk
At the reporting date, the Group’s and the Company’s maximum exposure to credit risk is represented by the carrying
Assets measured at fair value
amount of each class of financial assets recognised in the statements of financial position.
Current
Credit risk concentration profile
Financial assets at fair value through OCI
(Note 22) 4,288 - - 4,288
The Group has no significant concentration of credit risk that may arise from exposure to a single debtor or to groups
Financial assets at fair value through profit of debtors.
or loss (Note 22) 671,587 - - 671,587
Financial assets that are neither past due nor impaired
Information regarding trade and other receivables that are neither past due nor impaired is disclosed in Note 25(a).
Assets measured at fair value Deposits with banks and other financial institutions, debt securities, money market funds and derivative financial
instruments that are neither past due nor impaired are placed with or entered into with reputable financial institutions
Current or companies with high credit ratings and no history of default.
or loss (Note 22) 709,075 - - 709,075 Financial assets that are either past due or impaired
There were no transfers between Level 1, Level 2 and Level 3 fair value measurements during the financial years Information regarding financial assets that are either past due or impaired is disclosed in Note 25(a). An impairment
ended 31 August 2021 and 2020. analysis is performed at each reporting date using a provision matrix to measure expected credit losses. The provision
rates are based on days past due for groupings of various customer segments with similar loss patterns. The calculation
reflects the probability-weighted outcome, the time value of money and reasonable and supportable information that
42. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES is available at the reporting date about past events, current conditions and forecasts of future economic conditions.
Generally, trade receivables are written off if past due for more than 120 days, except for certain major or specific
The Group and the Company are exposed to a variety of financial risks, including market risk, credit risk, interest rate risk, customers where the period may extend beyond 120 days, and are not subject to enforcement activity. The maximum
liquidity risk and foreign currency risk. exposure to credit risk at the reporting date is the carrying value of each class of financial assets disclosed in
Note 25(a).
The Group’s senior management oversees the management of these risks and ensures that the Group’s financial risk
activities are governed by appropriate policies and procedures and that financial risks are identified, measured and
(c) Liquidity risk
managed in accordance with the Group’s policies and risk objectives. All derivative activities for risk management purposes
are carried out by senior management who have the appropriate skills, experience and supervision. It is the Group’s policy
Liquidity risk is the risk that the Group or the Company will encounter difficulty in meeting financial obligations due
that no trading in derivatives for speculative purposes may be undertaken. The Board of Directors reviews and agrees
to shortage of funds. The Group’s and the Company’s exposure to liquidity risk arises primarily from mismatches of
policies for managing each of these risks, which are summarised below:
the maturities of financial assets and liabilities. The Group’s and the Company’s objective is to maintain a balance
(a) Market risk between continuity of funding and flexibility through the use of stand-by credit facilities.
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes
in market prices. Market risk comprises interest rate risk, foreign exchange currency risk and other price risk such
as equity price risk. Financial instruments affected by market risk include loans and borrowings, cash and short term
deposits, debt securities, money market funds and derivative financial instruments.

OUR PERFORMANCE

42. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONT’D) 42. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONT'D)
(c) Liquidity risk (cont’d) (c) Liquidity risk (cont'd)
The table below summarises the maturity profile of the Group’s and the Company’s liabilities at the reporting date The table below summarises the maturity profile of the Group’s and the Company’s liabilities at the reporting date
based on contractual undiscounted repayment obligations. based on contractual undiscounted repayment obligations. (cont'd)
31 August 2021 31 August 2020

On demand On demand
or within One to Over or within One to Over
one year five years five years Total one year five years five years Total
Group Company
Financial liabilities Financial liabilities

Trade and other payables, excluding Trade and other payables, excluding
bank guarantees 692,361 - - 692,361 bank guarantees 2,571 - - 2,571
Derivative financial instruments 230 - - 230 Lease liabilities 88 350 51 489
Loans and borrowings 314,663 148,242 - 462,905 Total undiscounted financial liabilities 2,659 350 51 3,060
Lease liabilities 6,409 6,785 27,047 40,241
(d) Interest rate risk
Total undiscounted financial liabilities 1,013,663 155,027 27,047 1,195,737
Interest rate risk is the risk that the fair value or future cash flows of the Group's and the Company's financial
Company instruments will fluctuate because of changes in market interest rates.
Financial liabilities The Group's exposure to interest rate risk arises primarily from its loans and borrowings. The Group manages its
Trade and other payables, excluding interest rate exposure by maintaining a mix of fixed and floating rate borrowings. The Group actively reviews its
bank guarantees 23,060 - - 23,060 debt portfolio, taking into account the investment holding period and nature of its assets. This strategy allows it to
Lease liabilities 88 313 - 401 capitalise on cheaper funding in a low interest rate environment and achieve a certain level of protection against rate
hikes.
Total undiscounted financial liabilities 23,148 313 - 23,461
Sensitivity analysis for interest rate risk

31 August 2020
On demand At the reporting date, if interest rates had been 10 basis points lower/higher, with all other variables held constant, the
or within One to Over Group’s profit before tax would have been RM454,000 (2020: RM423,000) higher/lower, respectively, arising mainly
one year five years five years Total as a result of lower/higher interest expense on floating rate loans and borrowings. The assumed movement in basis
RM’000 RM’000 RM’000 RM’000 points for interest rate sensitivity analysis is based on the currently observable market environment.
Group (e) Market price risk
Financial liabilities The Group’s quoted investment securities are susceptible to market price risk arising from uncertainties about future
Trade and other payables, excluding values of the investment securities. The Group manages the market price risk through diversification and by placing
bank guarantees 810,824 - - 810,824 limits on individual and total investment in investment securities. Reports on the investment portfolio are submitted
Loans and borrowings 316,115 233,038 2,879 552,032 to the Group’s senior management on a regular basis. The Board of Directors reviews and approves all investment
decisions.
Lease liabilities 1,873 5,750 9,360 16,983
Total undiscounted financial liabilities 1,128,812 238,788 12,239 1,379,839 The Group has a Board Risk Committee with the objectives of reviewing, advising and ensuring that the Group’s
investment in debt securities is consistent with the delegated authority limit approved by the Board; and cash
invested is within the risk appetite of the Group. The Board Risk Committee established certain criteria for current
and future investment in debt securities. Any investment differing from the criteria established will require the Board
Risk Committee’s approval. The Board Risk Committee also aims to establish an effective investment management
framework for the Group.

OUR PERFORMANCE

42. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONT'D) 42. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONT'D)
(e) Market price risk (cont’d) (f) Foreign currency risk (cont’d)
The Group’s exposure to quoted investment securities at fair value at the reporting date is disclosed in Note 22. The net unhedged financial assets and financial liabilities of the Group that are not denominated in their functional
currencies are as follows (cont’d):
Sensitivity analysis for market price risk
Net financial assets/(liabilities) held in non-functional currency
The following table demonstrates the sensitivity of the Group’s investment in debt securities to reasonably possible
USD Euro JPY Total
price movements at the reporting date:
RM’000 RM’000 RM’000 RM’000
2021 2020 Functional currency of Group entities

RM’000 RM’000
At 31 August 2020
Debt securities - strengthened 5% (2020: 5%) 15,331 -
Malaysian Ringgit 228,190 (178,316) (91,611) (41,737)
- weakened 5% (2020: 5%) (15,331) -
Thai Baht 52,742 - - 52,742
(f) Foreign currency risk Chinese Renminbi 2,063 - - 2,063
Australian Dollars 147 - - 147
Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because Euro 4,671 - - 4,671
of changes in foreign exchange rates. United States Dollars - (64,606) - (64,606)
287,813 (242,922) (91,611) (46,720)
The Group has transactional currency exposures mainly arising from revenue that are denominated in a currency
other than the respective functional currencies of the Group entities. These functional currencies are Malaysian Sensitivity analysis for foreign currency risk
Ringgit (“RM”), Thai Baht (“THB”), Chinese Renminbi (“RMB”), Australian Dollar (“AUD”), Euro and USD. The foreign
currencies in which these transactions are denominated are mainly USD, Euro and Japanese Yen (“JPY”). In addition, The following table demonstrates the sensitivity of the Group’s profit before tax to a reasonably possible change in
the Group has significant borrowings in USD, Euro and JPY (Note 29). Therefore, the Group is exposed to foreign the USD, Euro and JPY exchange rates against the respective functional currencies of the Group entities, with all
currency risk. These exposures are managed, to the extent possible, by natural hedge that arise when payments for other variables held constant.
foreign currency payables are matched against receivables denominated in the same foreign currency.
The net unhedged financial assets and financial liabilities of the Group that are not denominated in their functional 2021 2020
currencies are as follows: RM’000 RM’000

USD/RM - strengthened 5% (2020: 5%) 18,506 11,410
Net financial assets/(liabilities) held in non-functional currency - weakened 5% (2020: 5%) (18,506) (11,410)
USD Euro JPY Total USD/THB - strengthened 5% (2020: 5%) (169) 2,637
RM’000 RM’000 RM’000 RM’000 - weakened 5% (2020: 5%) 169 (2,637)
Functional currency of Group entities USD/RMB - strengthened 5% (2020: 5%) (82) 103
- weakened 5% (2020: 5%) 82 (103)
At 31 August 2021 USD/AUD - strengthened 5% (2020: 5%) - 7
- weakened 5% (2020: 5%) - (7)
Malaysian Ringgit 370,118 (170,867) (88,894) 110,357
USD/Euro - strengthened 5% (2020: 5%) 476 234
Thai Baht (3,374) - - (3,374)
- weakened 5% (2020: 5%) (476) (234)
Chinese Renminbi (1,645) - - (1,645)
Euro/RM - strengthened 5% (2020: 5%) (8,543) (8,916)
Euro 9,518 - - 9,518
- weakened 5% (2020: 5%) 8,543 8,916
United States Dollars - (39,338) - (39,338) Euro/USD - strengthened 5% (2020: 5%) (1,967) (3,230)
374,617 (210,205) (88,894) 75,518 - weakened 5% (2020: 5%) 1,967 3,230
JPY/RM - strengthened 5% (2020: 5%) (4,445) (4,581)
- weakened 5% (2020: 5%) 4,445 4,581
As part of the Group’s financial instruments management policies and procedures, the Group established certain
limits for foreign exchange contracts to be hedged against foreign currency risks. Further details of the forward
currency contracts as at the reporting date are disclosed in Note 27.

OUR PERFORMANCE

43. FINANCIAL INSTRUMENTS 43. FINANCIAL INSTRUMENTS (CONT’D)
Classification of financial instruments Classification of financial instruments (cont’d)
The principal accounting policies in Note 4.18 describe how the classes of financial instruments are measured, and how The following table analyses the financial assets and liabilities in the statements of financial position by the class of financial
income and expenses, including fair value gains and losses, are recognised. instrument to which they are assigned, and therefore by the measurement basis (cont’d):
The following table analyses the financial assets and liabilities in the statements of financial position by the class of financial Fair value
instrument to which they are assigned, and therefore by the measurement basis. Fair value through
through profit or Amortised
Fair value OCI loss cost Total
Fair value through RM’000 RM’000 RM’000 RM’000
through profit or Amortised
OCI loss cost Total Company
RM’000 RM’000 RM’000 RM’000
Group
Financial assets
As at 31 August 2021 Investment securities: Money market funds - 578,568 - 578,568
Financial assets Investment securities: Debt securities 4,288 93,019 - 97,307
Investment securities: Unquoted investments - 392 - 392 Trade and other receivables - - 261,685 261,685
Investment securities: Money market funds - 1,323,297 - 1,323,297 Cash and bank balances - - 5,555 5,555
Investment securities: Debt securities 103,423 203,199 - 306,622 Total financial assets 4,288 671,587 267,240 943,115
Trade and other receivables - - 566,299 566,299
Derivative financial instruments - 2,411 - 2,411 Financial liabilities
Cash and bank balances - - 878,446 878,446 Lease liabilities - - 366 366
Total financial assets 103,423 1,529,299 1,444,745 3,077,467 Trade and other payables - - 23,060 23,060
Total financial liabilities - - 23,426 23,426
Financial liabilities
Loans and borrowings - - 458,706 458,706
Lease liabilities - - 23,669 23,669
Trade and other payables - - 692,361 692,361 Financial assets
Derivative financial instruments - 230 - 230 Investment securities: Money market funds - 709,075 - 709,075
Total financial liabilities - 230 1,174,736 1,174,966 Trade and other receivables - - 605,844 605,844
Cash and bank balances - - 257,481 257,481
As at 31 August 2020 Total financial assets - 709,075 863,325 1,572,400
Financial assets
Investment securities: Unquoted investments - 392 - 392 Financial liabilities
Investment securities: Money market funds - 1,674,631 - 1,674,631 Lease liabilities - - 438 438
Trade and other receivables - - 798,805 798,805 Trade and other payables - - 2,571 2,571
Derivative financial instruments - 45 - 45 Total financial liabilities - - 3,009 3,009
Cash and bank balances - - 1,208,559 1,208,559
Total financial assets - 1,675,068 2,007,364 3,682,432
Financial liabilities
Loans and borrowings - - 540,539 540,539
Lease liabilities - - 11,114 11,114
Trade and other payables - - 810,824 810,824
Total financial liabilities - - 1,362,477 1,362,477

OUR PERFORMANCE

44. CAPITAL MANAGEMENT 45. SEGMENT INFORMATION
The primary objective of the Group's and of the Company's capital management is to ensure that they maintain a strong For management purposes, the Group is organised into business units based on their geographical areas, and has five
credit rating and healthy capital ratios in order to support their business and maximise shareholders' value. reportable operating segments.
The Group and the Company manage their capital structure and make adjustments, in light of changes in economic Management monitors the operating results of its business units separately for the purpose of making decisions about
conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Group and resource allocation and performance assessment. Segment performance is evaluated based on operating profit or loss
the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. No which, in certain respects as explained in the table below, is measured differently from operating profit or loss in the
changes were made in the objectives, policies or processes during the financial years ended 31 August 2021 and 2020. consolidated financial statements. Group financing (including finance costs), income taxes and share of results of an
associate are managed on a group basis and are not allocated to operating segments.
As disclosed in Note 35(b), subsidiaries of the Group incorporated in the People’s Republic of China and Thailand are
required to set aside a statutory reserve fund under local regulations. This externally imposed capital requirement has been The directors are of the opinion that all inter-segment transactions have been entered into in the normal course of business
complied with by the above-mentioned subsidiaries for the financial years ended 31 August 2021 and 2020. and have been established on negotiated and mutually agreed terms.
The Group and the Company monitor capital using a gearing ratio, which is net debt divided by total capital plus net The The
debt. The Group and the Company include within net debt, loans and borrowings, trade and other payables, contract People’s British
liabilities, less cash and cash equivalents. Capital includes equity attributable to the owners of the parent less the fair value Republic Virgin
adjustment reserve and the above-mentioned restricted statutory reserve fund. Malaysia Thailand of China Islands Others Eliminations Note Consolidated
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Group Company
31 August 2021
2021 2020 2021 2020
Note RM’000 RM’000 RM’000 RM’000 Revenue
Loans and borrowings 29 458,706 540,539 - - External sales 13,907,278 1,199,387 429,918 - 824,860 - 16,361,443
Trade and other payables 30 692,361 810,824 23,060 2,571 Inter-segment sales 505,092 458,579 1,206 - 1,298 (966,175) A -
Contract liabilities 31 737,627 879,386 - - Total revenue 14,412,370 1,657,966 431,124 - 826,158 (966,175) 16,361,443
Less: Cash and cash equivalents 28 (875,198) (1,204,947) (5,555) (257,481)
Net debt 1,013,496 1,025,802 17,505 - Results
Interest income 131,894 882 3,183 6,611 201 (81,196) 61,575
Equity attributable to the owners of the parent 5,872,403 4,870,755 2,955,175 3,187,273 Depreciation and
amortisation 268,640 27,497 3,918 - 8,609 - 308,664
Less:
Segment profit/(loss) 8,815,480 826,776 222,187 10,795 160,118 (1,543) B 10,033,813
- Fair value adjustment reserve 35 (1,844) - - -
- Legal reserve 35 (27,569) (10,088) - -
Assets
Total equity 5,842,990 4,860,667 2,955,175 3,187,273
Additions to non-current
assets* 1,127,186 163,748 13,223 - 66,824 - C 1,370,981
Capital and net debt 6,856,486 5,886,469 2,972,680 3,187,273
Segment assets 6,732,031 976,966 238,692 222,116 567,879 1,044,740 D 9,782,424
Gearing ratio 14.78% 17.43% 0.59% 0.00%

Liabilities
The gearing ratio is not governed by the MFRS and its definition and calculation may vary from one group/company to Segment liabilities 1,548,012 114,109 14,826 10 244,084 641,223 E 2,562,264
another.
Other segment
information
Capital commitments 883,911 87,960 1,587 - 68,307 - 1,041,765
* Other than financial instruments and deferred tax assets

OUR PERFORMANCE

45. SEGMENT INFORMATION (CONT’D) 45. SEGMENT INFORMATION (CONT’D)
The The A Inter-segment revenues are eliminated on consolidation.

People’s British
Republic Virgin B The following items are added to/(deducted from) segment profit to arrive at profit before tax presented in the
Malaysia Thailand of China Islands Others Eliminations Note Consolidated consolidated income statement:
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
2021 2020
31 August 2020 RM’000 RM’000
Revenue Share of results of an associate 2,644 (1,428)

External sales 6,223,145 540,005 127,500 - 346,777 - 7,237,427 Finance costs (4,187) (34,399)
Inter-segment sales 259,252 382,477 622 - - (642,351) A - (1,543) (35,827)
Total revenue 6,482,397 922,482 128,122 - 346,777 (642,351) 7,237,427
C Additions to non-current assets consist of:
Results
2021 2020
Interest income 104,570 262 505 1,030 509 (82,987) 23,889
RM’000 RM’000
Depreciation and
amortisation 216,911 24,051 2,787 - 1,647 - 245,396 Property, plant and equipment 1,334,018 806,400
Segment profit/(loss) 1,920,336 199,619 40,280 3,241 37,902 (35,827) B 2,165,551 Right-of-use assets 9,308 9,532
Investment properties 26,902 -
Assets Intangible assets 207 32
Additions to non-current Biological assets 546 28
assets* 627,709 113,012 3,229 - 72,042 - C 815,992
1,370,981 815,992
Segment assets 6,585,924 541,836 177,081 147 358,643 1,042,333 D 8,705,964
D The following items are added to segment assets to arrive at total assets reported in the consolidated statement of
Liabilities financial position:
Segment liabilities 1,848,265 169,352 93,265 11 135,527 268,661 E 2,515,081
2021 2020
RM’000 RM’000
Other segment
information Deferred tax assets (Note 21) 17,073 19,589
Capital commitments 315,806 42,993 1,795 - 52,477 - 413,071 Investments in an associate (Note 20) 13,069 10,425
Intangible assets (Note 23) 1,008,795 1,012,319
* Other than financial instruments and deferred tax assets
Income tax recoverable 5,803 -
1,044,740 1,042,333
E The following items are added to segment liabilities to arrive at total liabilities reported in the consolidated statement
of financial position:
2021 2020
RM’000 RM’000
Income tax payable 450,023 126,673

Deferred tax liabilities (Note 21) 191,200 141,988
641,223 268,661

OUR PERFORMANCE

46. DIVIDENDS 48. SIGNIFICANT EVENTS
Group and Company (a) Outbreak of Coronavirus (“COVID-19”)
2021 2020
In March 2020, the World Health Organisation officially announced the outbreak of COVID-19 as a global pandemic.
RM’000 RM’000
In order to combat the spread of COVID-19, the government of Malaysia had declared a Movement Control Order
In respect of the financial year ended 31 August 2021: (“MCO”) which encompasses restriction of movement and closure of premises, except for those involved in essential
services. During this period, the Group had been granted approval by the Malaysian Government to continue its
Third tax exempt interim single tier dividend of 18 sen per share on 8,004,542,000 operations as the Group is in the essential industry to ensure the continuous supply of gloves to the healthcare
ordinary shares, declared on 9 June 2021 and paid on 7 July 2021 1,440,559 - workers and frontliners globally.
Second tax exempt interim single tier dividend of 25.2 sen per share on
8,004,018,000 ordinary shares, declared on 9 March 2021 and paid on 6 April 2021 2,017,607 - However, from 17 November 2020 to 14 December 2020, an Enhanced Movement Control Order (“EMCO”) was
imposed by the Malaysian Ministry of Health due to an outbreak of COVID-19 cases in the Group’s workers’
First tax exempt interim single tier dividend of 16.5 sen per share on 8,022,604,000
dormitories. The EMCO affected approximately 5,700 of the Group’s workers in Meru, Klang and led the Group to halt
ordinary shares, declared on 9 December 2020 and paid on 11 January 2021 1,323,582 -
work in stages at 28 of its manufacturing facilities. The closures resulted in a two to four-week delay in the deliveries
of its products, as well as a longer lead time for fulfilling purchase orders. The EMCO was lifted on 14 December 2020
In respect of the financial year ended 31 August 2020: and the Group’s factories reopened in stages subsequently.
Final tax exempt single tier dividend of 8.5 sen per share on 8,143,086,000 Another EMCO was imposed across several districts in the states of Selangor and Kuala Lumpur in July 2021 as a
ordinary shares, declared on 23 September 2020 and paid on 3 November 2020 692,321 - result of rising number of COVID-19 cases in these areas, during which 30 of the Group's manufacturing facilities
First tax exempt interim single tier dividend of 10 sen per share on 2,694,050,000 were not allowed to operate for 10 days. Additionally, facilities which were affected by a subsequent round of the
ordinary shares, declared on 11 June 2020 and paid on 9 July 2020 - 269,411 MCO were only permitted to operate at 60%. However, with the vaccination rate amongst the Group's employees
having exceeded 80%, these facilities have since been allowed to operate at full capacity.
In respect of the financial year ended 31 August 2019:

The Group will continue to follow the various directives issued by the Governments of jurisdictions where its facilities
are located and do its utmost to continue its operations with reinforced health and safety measures, including regular
Final tax exempt single tier dividend of 4 sen per share on 2,559,814,000
disinfection and sanitation of premises, temperature screening, provision of face masks to employees and visitors,
ordinary shares, declared on 26 September 2019 and paid on 23 December 2019 - 102,393
and participation in local vaccination programmes, amongst others.
5,474,069 371,804
(b) U.S. Customs and Border Protection
No dividend is payable for treasury shares held or cancelled.
On 15 July 2020, the U.S. Customs and Border Protection (“US CBP”) had placed a Withhold Release Order (“WRO”)
on importing disposable rubber gloves manufactured by two subsidiaries of the Group, namely Top Glove Sdn. Bhd.
47. FINANCIAL GUARANTEES and TG Medical Sdn. Bhd. to U.S. market. The action imposed by the US CBP was based on claims of forced labour
in the Group’s production process, mainly in relation to the remediation of recruitment fees paid to agents by the
A nominal amount of RM459 million (2020: RM541 million) relating to corporate guarantees has been provided by the foreign workers who joined the Group prior to January 2019 without the knowledge of the Group. The Group has
Company to banks for its subsidiaries’ loans and borrowings. established a Zero Recruitment Fee Policy (the “Policy”) since January 2019.
As at reporting date, no values are ascribed on these guarantees and letter of undertaking provided by the Company The Group appointed an independent consultant in July 2020 to assess the presence of forced labour by reference
to secure banking facilities described above as the directors regard the value of the credit enhancement provided by to the International Labour Organization’s 11 Forced Labour Indicators (“ILO Indicators”). Following the completion
these guarantees as minimal and the probability of default, based on historical track records of the parties receiving the of the independent consultant’s verification work, an amount of RM136 million remediation payment was initially
guarantees are remote. recommended by the independent consultant to compensate the foreign workers who paid recruitment fees to their
recruitment agents and/or sub-agents prior to the implementation of the Policy in January 2019. Subsequently, the
Group commenced making the remediation payments to its migrant workers since August 2020 and had completed
all remediation payments amounting to a final total sum of RM150 million in April 2021. Additionally, the Group had
also worked towards addressing the other ILO Indicators. On 22 April 2021, the independent consultant reported that
the Group has achieved all green for all the 11 ILO Indicators.
On 29 March 2021, the US CBP announced a Finding against disposable gloves produced in Malaysia by the Group
which allowed for the seizure of glove shipments at all U.S. ports of entry. However, this Finding has since been
modified on 10 September 2021, after the US CBP had thoroughly reviewed evidence that the Group has addressed
all indicators of forced labour identified at its Malaysian facilities, thereby enabling the Group to resume exporting
gloves to the U.S..

OUR PERFORMANCE OTHER INFORMATION
NOTES TO THE FINANCIAL STATEMENTS

LIST OF PROPERTIES
48. SIGNIFICANT EVENTS (CONT’D) AUDITED

NET BOOK
DATE OF AGE OF VALUE AS AT
(c) Corporate proposals announced PARTICULARS OF ACQUISITION(A)/ BUILDING, DESCRIPTION/ LAND AREA/ 31/08/2021,
PROPERTY REVALUATION(R) YEARS TENURE EXISTING USE BUILD-UP AREA RM’000
The Company had on 26 February 2021 announced the following proposals: A) TOP GLOVE SDN. BHD.
1) Lot 4968, Jalan Teratai, EMR 6629, Lot 4968, 13/10/1993 (A) 27 Freehold Factory/Glove 2.51 acres/ 13,214
(i) Proposed issuance of new shares; Batu 6, Off Jalan Meru, Mukim Kapar, manufacturing 83,379
41050 Klang, Selangor. Daerah Klang, Selangor. square feet
(ii) Proposed amendments; and
(iii) Proposed dual primary listing of the ordinary shares in the Company on the Main Board of The Stock Exchange 2) No.23, HS (M) 10314, 23/05/1996 (A) 25 Freehold Terrace house/ 1,608 63
Jalan Seri Kenangan 8, PT 15442, Accommodation square feet/
of Hong Kong Limited (“HKEX”). Taman Meru 3, Meru, Mukim Kapar, for staff 1,350
The application for the proposed listing of the Company on the HKEX which had a validity period of 6 months had 3) Lot 4908, Jalan Teratai, EMR 6605, Lot 4908, 08/07/1997 (A) 24 Freehold Terrace house/ 3 acres/ 1,746
lapsed on 26 August 2021. However, the Company is still pursuing the above proposals and intends to renew the Batu 5½, Off Jalan Meru, Mukim Kapar, Accommodation 54,140
application as soon as practicable. 41050 Klang, Selangor. Daerah Klang, Selangor. for worker square feet
4) No.11, HS (M) 15238, PT 8349, 15/09/1997 (A) 23 Freehold Terrace house/ 1,300 82
Jalan Mempari 11, HS (M) 15238, PT 8445, Accommodation square feet/
Taman Bayu, Batu 5½, Mukim Kapar, for staff 1,100
49. SUBSEQUENT EVENT Jalan Meru, Daerah Klang, square feet
41050 Klang, Selangor. Selangor.
A single tier final dividend in respect of the financial year ended 31 August 2021, of 5.4 sen per share on 8,007,085,000 5) No.22, HS (M) 15304, PT 8419, 15/09/1997 (A) 23 Freehold Terrace house/ 1,300 87
ordinary shares amounting to RM432,454,000 had been declared on 17 September 2021 and paid on 15 October 2021. Jalan Mempari 1, Mukim Kapar, Accommodation square feet/
Taman Bayu, Batu 5½, Daerah Klang, Selangor. for staff 1,100
The financial statements for the current financial year do not reflect this dividend. Such dividend will be accounted for Jalan Meru, square feet
within equity as an appropriation of retained earnings for the financial year ending 31 August 2022. 41050 Klang, Selangor.
Jalan Mempari 10, Mukim Kapar, Accommodation square feet/
Taman Bayu, Batu 5½, Daerah Klang, Selangor. for staff 1,100
50. AUTHORISATION OF FINANCIAL STATEMENTS FOR ISSUE Jalan Meru, square feet
41050 Klang, Selangor.
The financial statements for the year ended 31 August 2021 were authorised for issue in accordance with a resolution of 7) No.36, HS (M) 15297, PT 8411, 13/02/1998 (A) 23 Freehold Terrace house/ 1,300 38
the directors on 27 October 2021. Jalan Mempari 1, Mukim Kapar, Accommodation square feet/
Taman Bayu, Batu 5½, Daerah Klang, for staff 1,100
Jalan Meru, Selangor. square feet
8) Lot 18, 27, 38 & 57, Lot 18, 27, 38 & 57, 22/11/1999 (A) 21 Leasehold Factory/Glove 311,192 8,887
Medan Tasek, Medan Tasek, (Expiring on: manufacturing square feet/
Kawasan Perindustrian Kawasan Perindustrian Lot 18 - 197,675
Tasek, Tasek, 30/09/2072 square feet
31400 Ipoh, Perak. 31400 Ipoh, Perak. Lot 27 -
28/12/2063
Lot 38 -
23/12/2069
Lot 57 -
01/10/2064)
9) Lot 5987, Jalan Teratai, EMR 8780, Lot 5987, 11/07/2000 (A) 21 Freehold Factory/Glove 2.8 acres/ 4,905
Batu 5, Off Jalan Meru, Mukim Kapar, manufacturing 57,250 square feet
41050 Klang, Selangor. Daerah Klang,
Selangor.
10) Lot 4969, Jalan Teratai, GM 2143, Lot 4969, 11/10/2000 (A) 20 Freehold Factory/Office 3 acres/ 7,346
Batu 6, Off Jalan Meru, Mukim Kapar, building 41,274 square feet
41050 Klang, Selangor. Daerah Klang,
Selangor.
11) Lot 4960, Jalan Teratai, GM 2326, Lot 4960, 24/09/2003 (A) 17 Freehold Factory/Glove 3 acres/ 7,090
Batu 6, Off Jalan Meru, Mukim Kapar, manufacturing 58,240
41050 Klang, Selangor. Daerah Klang, square feet
Selangor.
12) Lot 4970, Jalan Teratai, HS (M) 38148, 20/11/2003 (A) 17 Freehold Factory/Glove 3 acres/ 5,516
Batu 6, Off Jalan Meru, PT Nos. 63271, manufacturing 67,924
41050 Klang, Selangor. Mukim Kapar, square feet
Daerah Klang,
Selangor.
Batu 6, Off Jalan Meru, Mukim Kapar, manufacturing 58,240

OTHER INFORMATION
LIST OF PROPERTIES LIST OF PROPERTIES

As at 31 August 2021 (cont’d) As at 31 August 2021 (cont’d)
AUDITED AUDITED
NET BOOK NET BOOK
DATE OF AGE OF VALUE AS AT DATE OF AGE OF VALUE AS AT
PARTICULARS OF ACQUISITION(A)/ BUILDING, DESCRIPTION/ LAND AREA/ 31/08/2021, PARTICULARS OF ACQUISITION(A)/ BUILDING, DESCRIPTION/ LAND AREA/ 31/08/2021,
PROPERTY REVALUATION(R) YEARS TENURE EXISTING USE BUILD-UP AREA RM’000 PROPERTY REVALUATION(R) YEARS TENURE EXISTING USE BUILD-UP AREA RM’000
14) Lot 4991, HS (M) 39325, 19/10/2004 (A) 16 Freehold Factory/Glove 4.3 acres 3,242 29) Lot 4986, Batu 5, GM 1102, Lot 4986, 24/02/2006 (A) 15 Freehold Factory/Glove 3 acres/12,141 7,686
Jalan Bunga Raya, PT 64593, manufacturing Jalan Sungai Binjai, Mukim Kapar, manufacturing square metres
Batu 5½, Off Jalan Meru, Mukim Kapar, Mukim Kapar, Daerah Klang, Selangor.
41050 Klang, Selangor. Daerah Klang, Selangor. 41050 Klang, Selangor.
30) No.1, 3, 5 & 7, HS (M) 10598 - 10601, 29/04/2006 (A) 15 Freehold Terrace house/ 70,995 5,217
Jalan Abadi 1A/KU8, PT 49525 - 49528, Accommodation square feet
Batu 5½, Off Jalan Meru, Mukim Kapar, manufacturing 58,240
for staff
No.1 - 8, HS (M) 10605 - 28476,
Jalan Abadi 1B/KU8, PT 40356 - 40363,
16) No.26, HS (M) 26112, 21/03/2005 (A) 16 Freehold Terrace house/ 1,300 107
Jalan Abadi 10A/KU8, PT 39636, Accommodation square feet/ No.1, 3, 5 & 7, HS (M) 28477 - 28480
Taman Daya Maju, Mukim Kapar, for staff 1,100 Jalan Abadi 1C/KU8, & 28484,
41050 Klang, Selangor. Daerah Klang, Selangor. square feet PT 40367 - 40370
& 40374,
Jalan Mempari 11, HS (M) 15242, PT 8353, Accommodation square feet/ No.60, 62, 64, 66, 67, HS (M) 28481 - 28483
Taman Bayu, Batu 5½, Mukim Kapar, for staff 1,100 69, 71, 73, 75 & 77, & 28486 - 28491,
Jalan Meru, Daerah Klang, Selangor. square feet Jalan Abadi 4/KU8, PT 40371 - 40373
41050 Klang, Selangor. & 40376 - 40381,
18) No.37, HS (M) 18522, 12/05/2005 (A) 16 Freehold Terrace house/ 1,300 101 No.49, 51, 53, 55, 57, HS (M) 28492 - 28497
Jalan Mempari 1, PT 24689, Accommodation square feet/ 59, 62, 64, 66, 68, 70 & 28499 - 28504,
Taman Bayu, Batu 5½, Mukim Kapar, for staff 1,100 & 72, PT 40382 - 40387
Jalan Meru, Daerah Klang, Selangor. square feet Jalan Abadi 5/KU8, & 40389 - 40394,
19) No.21, GM 7798, Lot 37307, 13/05/2005 (A) 16 Freehold Terrace house/ 1,300 108 No.46, 48, 50, 52, 54 HS (M) 28505 - 28510,
Jalan Sesenduk 20, Mukim Kapar, Accommodation square feet/ & 56, PT 40395 - 40400,
Off Taman Meru Jaya, Daerah Klang, Selangor. for staff 1,100 Jalan Abadi 6/KU8, Mukim Kapar,
41050 Klang, Selangor. square feet Taman Daya Maju, Daerah Klang, Selangor.
20) No.23, GM 7797, Lot 37306, 13/05/2005 (A) 16 Freehold Terrace house/ 1,300 108
Jalan Sesenduk 20, Mukim Kapar, Accommodation square feet/ 31) Lot 4987, 5th Miles, GM 2619, Lot 4987, 24/05/2006 (A) 15 Freehold Factory/Glove 3 acres/ 12,981
Off Taman Meru Jaya, Daerah Klang, Selangor. for staff 1,100 Sungai Binjai Road, Mukim Kapar, manufacturing 12,141
41050 Klang, Selangor. square feet Mukim Kapar, Daerah Klang, Selangor. square metres
21) No.27, HS (M) 3773, PT 1286 & 25/05/2005 (A) 16 Freehold Terrace house/ 1,300 88
Lorong Tempinis 1, HS (M) 3685, PT 1285, Accommodation square feet/ 32) Lot 4990, GM 5116, Lot 4990, 05/03/2007 (A) 14 Freehold Factory/Glove 3 acres/ 8,559
Pekan Meru, Mukim Kapar, for staff 1,100 Jalan Bunga Raya, Mukim Kapar, manufacturing 12,267
42200 Klang, Selangor. Daerah Klang, Selangor. square feet Batu 5½, Off Jalan Meru, Daerah Klang, Selangor. square metres
22) No.57, GM 7330, Lot 43375, 19/07/2005 (A) 16 Freehold Terrace house/ 1,300 108 33) No.3, 5, 7, 9, 11, 13, 15, Lot 375847 - 375859 02/11/2007 (A) 13 Freehold Terrace house/ 1,400 1,621
Jalan Sesenduk 5, Mukim Kapar, Accommodation square feet/ 17, 19, 21, 23, 25 & 27, Tasek Mutiara, Accommodation square feet/
Taman Meru Utama, Daerah Klang, Selangor. for staff 1,100 Taman Mutiara, Tasek, 31400 Ipoh, Perak. for worker 1,625
41050 Klang, Selangor. square feet 31400 Ipoh, Perak. square feet
23) No.51, GM 7327, Lot 43372, 19/07/2005 (A) 16 Freehold Terrace house/ 1,300 108 34) Lot 4946, Jalan Teratai, GM 2574, Lot 4946, 14/01/2008 (A) N/A Freehold Vacant 3 acres 2,718
Jalan Sesenduk 5, Mukim Kapar, Accommodation square feet/ Batu 5½, Off Jalan Meru, Mukim Kapar,
Taman Meru Utama, Daerah Klang, Selangor. for staff 1,100 41050 Klang, Selangor. Daerah Klang, Selangor.
41050 Klang, Selangor. square feet
35) Lot 4949, Jalan Teratai, GM 1728, Lot 4949, 18/01/2008 (A) N/A Freehold Parking Lot 3 acres 3,101
Batu 5½, Off Jalan Meru, Mukim Kapar,
24) No.67, GM 7311, Lot 43353, 19/07/2005 (A) 16 Freehold Terrace house/ 1,300 101
41050 Klang, Selangor. Daerah Klang, Selangor.
Jalan Sesenduk 6, Mukim Kapar, Accommodation square feet/
Taman Meru Utama, Daerah Klang, Selangor. for staff 1,100 36) Lot 4961, GM 525, Lot 4961, 17/09/2008 (A) 12 Freehold Factory/Glove 3 acres 9,821
41050 Klang, Selangor. square feet Tempat Batu 5, Mukim Kapar, manufacturing
Jalan Binjai, Daerah Klang, Selangor.
25) No.65, GM 7310, Lot 43352, 19/07/2005 (A) 16 Freehold Terrace house/ 1,300 101 41050 Klang, Selangor.
Jalan Sesenduk 6, Mukim Kapar, Accommodation square feet/
Taman Meru Utama, Daerah Klang, Selangor. for staff 1,100 37) Lot 5094, GM 4326, Lot 5094, 03/10/2008 (A) N/A Freehold Vacant 3 acres 2,532
41050 Klang, Selangor. square feet Tempat Batu 4½, Mukim Kapar, 5 pole
Jalan Sungai Binjai, Daerah Klang, Selangor.
26) Lot 4988, 5½ Miles, GM 1584, Lot 4988, 10/10/2005 (A) 15 Freehold Factory/Glove 3 acres/ 13,053 41050 Klang, Selangor.
Sungai Binjai Road, Mukim Kapar, manufacturing 12,141
38) Lot 5977 & 5975, GM 4436 & 4437, 03/10/2008 (A) N/A Freehold Vacant 1.794 & 0.068 acres 1,531
41050 Klang, Selangor. Daerah Klang, Selangor. square metres
Tempat Batu 4½, Lot 5977 & 5975,
Jalan Sungai Binjai, Mukim Kapar,
27) Lot 4989, GM 703, Lot 4989, 10/10/2005 (A) 15 Freehold Factory/Glove 3 acres/ 9,585
Jalan Dahlia/KU8, Mukim Kapar, manufacturing 12,267
Kawasan Perindustrian Daerah Klang, Selangor. square metres 39) Lot 4941, GM 2082, Lot 4941, 01/06/2009 (A) N/A Freehold Vacant 3 acres 1,901
Meru Timur, Tempat Batu 6, Mukim Kapar,
41050 Klang, Selangor. Jalan Sungai Binjai, Daerah Klang, Selangor.
28) No.41, Jalan Abadi 3, HS (M) 18218, PT 02/12/2005 (A) 15 Freehold Terrace house/ 1,098 83
Taman Daya Meru, 24467, Accommodation square feet
41050 Klang, Selangor. Mukim Kapar, for staff
Daerah Klang, Selangor.

OTHER INFORMATION

AUDITED AUDITED
NET BOOK NET BOOK
40) Lot 5139, GM 5863, Lot 5139, 07/09/2009 (A) N/A Freehold Vacant 4 acres 6,744 51) No.25, GM 7799, Lot 37308, 31/07/2010 (A) 11 Freehold Terrace house/ 121 125
Tempat Batu 6, Mukim Kapar, 2 rood Jalan Sesenduk 20, Mukim Kapar, Accommodation square metres
Jalan Sungai Binjai, Daerah Klang, Selangor. 25 pole Taman Meru Jaya, Daerah Klang, Selangor. for staff
41050 Klang, Selangor. 41050 Klang, Selangor
52) No.46, GM 12533, Lot 33910, 31/07/2010 (A) 11 Freehold Terrace house/ 121 122
41) Lot 5140, GM 1657, Lot 5140, 30/11/2009 (A) N/A Freehold Vacant 4 acres 7,690
Jalan Sesenduk 7, Mukim Kapar, Accommodation square metres
Tempat Batu 6, Mukim Kapar, 3 rood
Taman Meru Utama, Daerah Klang, Selangor. for worker
Off Jalan Meru,
42) No.7, Lorong Abadi 2, GM 16575, Lot 31111, 04/12/2009 (A) 11 Freehold Terrace house/ 111 94 53) No.47, GM 7295, Lot 43337, 13/08/2010 (A) 11 Freehold Terrace house/ 121 130
Batu 5½, Off Jalan Meru, Batu 6, Accommodation square metres Jalan Sesenduk 7, Mukim Kapar, Accommodation square metres
Taman Daya Meru, Jalan Sungai Binjai, for staff Taman Meru Utama, Daerah Klang, Selangor. for worker
41050 Klang, Selangor. Mukim Kapar, 41050 Klang, Selangor.
43) No.69, GM 7300, 7331, 25/01/2010 (A) 11 Freehold Terrace house/ 133 268 Jalan Sesenduk 19, Mukim Kapar, Accommodation square metres
Jalan Sesenduk 6, Lot 43342, 43376, Accommodation for square metres & Taman Meru Utama, Daerah Klang, Selangor. for staff
No.57, Tempat Batu 5, worker and staff 193 41050 Klang, Selangor.
Jalan Sesenduk 7, Jalan Sungai Binjai, square metres
55) Lot 5991, GM 5591, Lot 5991, 30/09/2010 (A) 2 Freehold Warehouse F4A 2.8 acres/ 14,734
Taman Meru Utama, Mukim Kapar,
Tempat Batu 4½, Mukim Kapar, 1.0787 acres
44) Lot 12, Medan Tasek, PN 1308, Lot 56530, 04/02/2010 (A) 11 Leasehold Factory/Office building 213,889 5,976
Kawasan Perindustrian Mukim Hulu Kinta, (Expiring on: square feet/ 56) No.55, GM 7299, Lot 43341, 29/10/2010 (A) 10 Freehold Terrace house/ 121 131
Tasek, Daerah Kinta, Perak. 05/04/2066) 131,576 Jalan Sesenduk 7, Mukim Kapar, Accommodation square metres
31400 Ipoh, Perak. square feet Taman Meru Utama, Daerah Klang, Selangor. for staff
45) No.8, 10, 12, 14, 16, GM 7790, 7789, 7788, 05/02/2010 (A) 11 Freehold Terrace house/ 190 2,875
18, 20, 22, 24, 26, 28, 7787, 7786, 7785, 7784, Accommodation square metres/unit 57) No.15, GM 8996, Lot 48112, 30/10/2010 (A) 10 Freehold Terrace house/ 109 119
30, 32, 34, 36, 40, 42, 7783, 7782, 7781, 7780, for staff Jalan Abadi 10B/KU8, Mukim Kapar, Accommodation square metres
44 & 46, 7779, 7778, 7777, 7776, Taman Daya Maju, Daerah Klang, Selangor. for staff
Jalan Sesenduk 21, 7774, 7773, 7772, 7771, 41050 Klang, Selangor.
Taman Meru Jaya, Lot 37299, 37298, 58) Lot 4956, GM 2580, Lot 4956, 19/11/2010 (A) 4 Freehold Terrace house/ 1.2141 hectares 16,760
41050 Klang, Selangor. 37297, 37296, 37295, Tempat Batu 6, Mukim Kapar, Accommodation
37294, 37293, 37292, Jalan Sungai Binjai, Daerah Klang, Selangor. for worker
37291, 37290, 37289, 41050 Klang, Selangor.
37288, 37287, 37286,
37285, 37283, 37282, 59) No.25, GM 13014, Lot 307, 15/12/2010 (A) 10 Freehold Terrace house/ 109 116
37281, 37280, Jalan Mempari 9, Seksyen 1, 6th Miles, Accommodation square metres
Mukim Kapar, Taman Bayu, Sungai Binjai Road, for staff
Daerah Klang, Selangor. 41050 Klang, Selangor. Pekan Meru,
Daerah Klang,
46) No.20, GM 7804, Lot 37313, 08/02/2010 (A) 11 Freehold Terrace house/ 111 123 Selangor.
Jalan Sesenduk 19, Batu 6½, Accommodation square metres
Taman Meru Jaya, Jalan Sungai Binjai, for staff 60) No.22, GM 13456, Lot 33926, 30/12/2010 (A) 10 Freehold Terrace house/ 190 116
41050 Klang, Selangor. Mukim Kapar, Jalan Sesenduk 4, Mukim Kapar, Accommodation square metres
Daerah Klang, Selangor. Taman Meru Utama, Daerah Klang, for staff
47) No.31, GM 14268, Lot 38295 & 11/03/2010 (A) 11 Freehold Terrace house/ 121 90 61) No.26, GM 8479, Lot 38225, 31/12/2010 (A) 10 Freehold Terrace house/ 121 87
Jalan Mempari 12, HS (M) 15348, PT 8466, Accommodation square metres Jalan Mempari 1, Seksyen 1, Accommodation square metres
Taman Bayu, Batu 6, for staff Taman Bayu, Mukim Kapar, for staff
Batu 5, Jalan Meru, Jalan Sungai Binjai, 41050 Klang, Selangor. Daerah Klang,
41050 Klang, Selangor. Mukim Kapar, Selangor.
62) HS (D) 129441, HS (D) 129441, 28/02/2011 (A) N/A Freehold Vacant 131,730 14,335
48) No.3, GM 15247, 15246, 21/04/2010 (A) 11 Freehold Terrace house/ 127 116 PT 62956, PT 62956, square metres
Jalan Sesenduk 3C, 15244, 15242, 15265, Accommodation square metres/unit Jalan Bukit Kapar, Mukim Kapar,
Taman Meru Utama 55, Lot 45023, 45022, for worker 41050 Klang, Selangor. Daerah Klang,
41050 Klang, Selangor. 45020, 45018, 45041, Selangor.
Tempat Batu 5,
Jalan Sungai Binjai, 63) No.30, Lot 31191, 12/05/2011 (A) 10 Freehold Terrace house/ 82 97
Mukim Kapar, Jalan Abadi 5, Mukim Kapar, Accommodation square metres
Daerah Klang, Selangor. Taman Daya Maju, Daerah Klang, for staff
49) No.1, GM 15282, Lot 45058, 27/05/2010 (A) 11 Freehold Terrace house/ 261 214 64) Plot 7, Medan Tasek, HS (D) 889/68, 05/07/2011 (A) 10 Leasehold Factory/Glove 87,756 11,785
Jalan Sesenduk 3C, Tempat Batu 5½, Accommodation square metres Kawasan Perindustrian Lot 927, (Expiring on: manufacturing square feet/
Taman Meru Utama 5, Jalan Sungai Binjai, for worker Tasek, Mukim Hulu Kinta, 02/05/2067) 48,352
41050 Klang, Selangor. Mukim Kapar, 31400 Ipoh, Perak. Daerah Kinta, Perak. square feet
50) Lot 4985, GM 2321, Lot 4985, 18/06/2010 (A) 4 Freehold Factory/Glove 3 acres 4,233 Jalan Mempari 10, Seksyen 1, Pekan Accommodation square metres
Tempat Batu 5, Mukim Kapar, manufacturing Batu 5½, Jalan Meru, Meru, Daerah Klang, for staff
Jalan Sungai Binjai, Daerah Klang, Selangor. 41050 Klang, Selangor. Selangor.

OTHER INFORMATION

AUDITED AUDITED
NET BOOK NET BOOK
66) No.60, GM 14210, Lot 38247, 01/11/2011 (A) 9 Freehold Terrace house/ 121 101 81) No.61, GM 17494, Lot 59982, 19/07/2012 (A) 9 Freehold Terrace house/ 130 137
Jalan Mempari 10, Seksyen 1, Accommodation square metres Jalan Abadi 1A/KU8, Mukim Kapar, Accommodation square metres
Taman Bayu, Pekan Meru, for staff Taman Daya Maju, Daerah Klang, Selangor. for staff
Batu 5½, Jalan Meru, Daerah Klang, 41050 Klang, Selangor.
67) No.58, GM 8463, Lot 38208, 15/11/2011 (A) 9 Freehold Terrace house/ 121 94 Jalan Abadi 1A/KU8, Mukim Kapar, Accommodation square metres
Jalan Mempari 1, Seksyen 1, Accommodation square metres Taman Daya Maju, Daerah Klang, Selangor. for staff
Taman Bayu, Pekan Meru, for staff 41050 Klang, Selangor.
Batu 5½, Jalan Meru, Daerah Klang,
41050 Klang, Selangor. Selangor. 83) No.65, GM 17496, Lot 59984, 19/07/2012 (A) 9 Freehold Terrace house/ 130 137
Jalan Abadi 1A/KU8, Mukim Kapar, Accommodation square metres
68) 8-2, 8-3, 8-4, 8-5, GM 290749, 01/02/2012 (A) 9 Freehold Building 920.77 2,903 Taman Daya Maju, Daerah Klang, Selangor. for staff
Setia Avenue, Lot 59640, square metres 41050 Klang, Selangor.
Jalan Setia Prima (S), Mukim Bukit Raja,
U13/5, Setia Alam, Daerah Petaling, 84) No.67, GM 17497, Lot 59985, 19/07/2012 (A) 9 Freehold Terrace house/ 130 137
Seksyen U13, Selangor. Jalan Abadi 1A/KU8, Mukim Kapar, Accommodation square metres
40170, Shah Alam, Taman Daya Maju, Daerah Klang, Selangor. for staff
Selangor. 41050 Klang, Selangor.
69) No.64, GM 7303, Lot 43345, 25/02/2012 (A) 9 Freehold Terrace house/ 121 140 85) No.69, GM 17498, Lot 59986, 19/07/2012 (A) 9 Freehold Terrace house/ 130 137
Jalan Sesenduk 7, Mukim Kapar, Accommodation square metres Jalan Abadi 1A/KU8, Mukim Kapar, Accommodation square metres
Off Jalan Meru, Daerah Klang, for staff Taman Daya Maju, Daerah Klang, Selangor. for staff
41050 Klang, Selangor. Selangor. 41050 Klang, Selangor.
70) No.21, Jalan Abadi 5, GM 16595, Lot 31142, 21/03/2012 (A) 9 Freehold Terrace house/ 121 78 86) No.71, GM 17499, Lot 59987, 19/07/2012 (A) 9 Freehold Terrace house/ 130 136
Taman Saujana Meru, Mukim Kapar, Accommodation square metres Jalan Abadi 1A/KU8, Mukim Kapar, Accommodation square metres
41050 Klang, Selangor. Daerah Klang, for staff Taman Daya Maju, Daerah Klang, Selangor. for staff
Selangor. Batu 6½,
Jalan Abadi 10D/KU8, Mukim Kapar, Accommodation square metres 87) No.24, HS (D) 35605, 28/09/2012 (A) 8 Freehold Terrace house/ 120.75 97
Taman Daya Maju, Daerah Klang, for staff Lorong Hamzah Alang PT 19713. Accommodation square metres
41050 Klang, Selangor. Selangor. 77B, Mukim Kapar, for staff
Off Jalan Kapar Batu 9½, Daerah Klang, Selangor.
72) No.47, GM 17487, Lot 59975, 19/07/2012 (A) 9 Freehold Terrace house/ 130 137 Taman Jaya,
Jalan Abadi 1A/KU8, Mukim Kapar, Accommodation square metres 42200 Kapar, Selangor.
Taman Daya Maju, Daerah Klang, Selangor. for staff
41050 Klang, Selangor. 88) No.40, HS (M) 15228, 12/10/2012 (A) 8 Freehold Terrace house/ 121 104
Jalan Mempari 10, PT 8339, Accommodation square metres
73) No.43, GM 17485, Lot 59973, 19/07/2012 (A) 9 Freehold Terrace house/ 130 137 Taman Bayu, Mukim Kapar, for staff
Jalan Abadi 1A/KU8, Mukim Kapar, Accommodation square metres Batu 5½, Jalan Meru, Daerah Klang, Selangor.
Taman Daya Maju, Daerah Klang, Selangor. for staff 41050 Klang, Selangor.
Batu 6½, Off Jalan Meru,
41050 Klang, Selangor. 89) No.6, Lorong Abadi 3, HS (M) 20392, 30/10/2012 (A) 8 Freehold Terrace house/ 111.483 104
Pekan Meru, PT 25898, Accommodation square metres
74) No.45, GM 17486, Lot 59974, 19/07/2012 (A) 9 Freehold Terrace house/ 130 137 Taman Saujana Meru, Mukim Kapar, for staff
Jalan Abadi 1A/KU8, Mukim Kapar, Accommodation square metres 41050 Klang, Selangor. Daerah Klang, Selangor.
41050 Klang, Selangor. 90) Lot 4982, 5th Miles, GM 4325, Lot 4982, 01/01/2013 (A) 2 Freehold Factory / Glove 1.2141 hectares 4,757
Jalan Sungai Binjai, Mukim Kapar, manufacturing
75) No.49, GM 17488, Lot 59976, 19/07/2012 (A) 9 Freehold Terrace house/ 130 137 41050 Klang, Selangor. Daerah Klang, Selangor.
Jalan Abadi 1A/KU8, Mukim Kapar, Accommodation square metres
Taman Daya Maju, Daerah Klang, Selangor. for staff 91) Lot 4983, 5th Miles, GM 593, Lot 4983, 01/01/2013 (A) 4 Freehold Factory / Glove 1.2141 hectares 41,056
41050 Klang, Selangor. Jalan Sungai Binjai, Mukim Kapar, manufacturing
Jalan Abadi 1A/KU8, Mukim Kapar, Accommodation square metres 92) Lot 4984, 5th Miles, GM 2445, Lot 4984, 01/01/2013 (A) 4 Freehold Factory / Glove 1.2141 hectares 10,722
Taman Daya Maju, Daerah Klang, Selangor. for staff Jalan Sungai Binjai, Mukim Kapar, manufacturing
41050 Klang, Selangor. 41050 Klang, Selangor. Daerah Klang, Selangor.
77) No.53, GM 17490, Lot 59978, 19/07/2012 (A) 9 Freehold Terrace house/ 130 137 93) No.28, HS (M) 15355, 04/02/2013 (A) 8 Freehold Terrace house/ 105 88
Jalan Abadi 1A/KU8, Mukim Kapar, Accommodation square metres Jalan Mempari 12, PT 8473, Accommodation square metres
Taman Daya Maju, Daerah Klang, Selangor. for staff 5th Miles, Jalan Meru, Mukim Kapar, for staff
41050 Klang, Selangor. 41050 Klang, Selangor. Daerah Klang, Selangor.
78) No.55, GM 17491, Lot 59979, 19/07/2012 (A) 9 Freehold Terrace house/ 130 137 94) Lot 4981, 5th Miles, GM 5117, Lot 4981, 06/06/2013 (A) 2 Freehold Factory / Glove 1.2141 hectares 7,102
Jalan Abadi 1A/KU8, Mukim Kapar, Accommodation square metres Jalan Sungai Binjai, Mukim Kapar, manufacturing
Taman Daya Maju, Daerah Klang, Selangor. for staff 41050 Klang, Selangor. Daerah Klang, Selangor.
41050 Klang, Selangor. 95) Lot 5105, 4½ Miles, GM 5076, Lot 5105, 19/11/2013 (A) 2 Freehold Warehouse 3.38 acres 26,573
79) No.57, GM 17492, Lot 59980, 19/07/2012 (A) 9 Freehold Terrace house/ 130 137 Jalan Sungai Binjai, Mukim Kapar,
Jalan Abadi 1A/KU8, Mukim Kapar, Accommodation square metres 41050 Klang, Selangor. Daerah Klang, Selangor.
Taman Daya Maju, Daerah Klang, Selangor. for staff 96) No.29, Jalan Abadi 1, GM 13955, Lot 31151, 05/12/2013 (A) 7 Freehold Terrace house/ 139 121
41050 Klang, Selangor. Taman Daya Meru, Mukim Kapar, Accommodation square metres
80) No.59, GM 17493, Lot 59981, 19/07/2012 (A) 9 Freehold Terrace house/ 130 137 Batu 5½, Jalan Meru, Daerah Klang, Selangor. for staff
Jalan Abadi 1A/KU8, Mukim Kapar, Accommodation square metres 41050 Klang, Selangor.

OTHER INFORMATION

AUDITED AUDITED
NET BOOK NET BOOK
97) Lot 4953, 5th Miles, GM 2645, Lot 4953, 27/02/2014 (A) N/A Freehold Vacant 1.2141 hectares 9,391 B) TG MEDICAL SDN. BHD.
Jalan Sungai Binjai, Mukim Kapar,
41050 Klang, Selangor. Daerah Klang, Selangor. 1) Lot 5091, Jalan Teratai, GM 3989, Lot 5091, 25/10/1995 (A) 25 Freehold Factory/Glove 3 acres/ 6,921
98) Lot 5136, 6th Miles, GM 3057, Lot 5136, 15/08/2014 (A) N/A Freehold Vacant 1.8843 hectares 12,986 Batu 5, Off Jalan Meru, 4½ Miles, manufacturing 68,490
Jalan Sungai Binjai, Mukim Kapar, 41050 Klang, Selangor. Sungai Binjai Road, square feet
41050 Klang, Selangor. Daerah Klang, Selangor. Mukim Kapar,
99) Lot 5002, Batu 5½, GM 10245, Lot 5002, 29/09/2015 (A) 5 Freehold Warehouse F1A 10,891 15,572
Jalan Meru, (Lot 23552), square metres 2) No.19, HS (M) 15241, PT 8352, 08/05/1998 (A) 23 Freehold Terrace house/ 1,300 80
41050 Klang, Selangor. Mukim Kapar, Jalan Mempari 11, HS (M) 15325, PT 8442, Accommodation square feet/
Daerah Klang, Selangor. Batu 5½, Jalan Meru, Batu 6, Jalan Sungai for staff 1,100
41050 Klang, Selangor. Binjai, Mukim Kapar, square feet
100) Unit C-34-08, GRN 308223, 16/12/2015 (A) 5 Freehold Strata office 45.1 251
Phase 2D02, Trefoil, Lot 61049, square metres
Level 34, Tower C, Daerah Petaling,
3) Lot 5972 & 5974, GM 4098 & 4099, 01/07/1999 (A) 22 Freehold Factory/Glove Approx 1.7935 3,172
Seksyen U13, Selangor.
Jalan Teratai, Lot 5972 & 5974, manufacturing acres/
Jalan Setia Dagang,
Batu 5, Jalan Meru, 4½ Miles, 47,200
AH U13/AH, Setia Alam,
41050 Klang, Selangor. Sungei Benjai Road, square feet
40170, Shah Alam,
Mukim Kapar,
Selangor.
101) Unit C-34-07, GRN 308223, 05/01/2016 (A) 5 Freehold Strata office 45.1 251
Phase 2D02, Trefoil, Lot 61049, square metres 4) Lot 5104, Jalan Teratai, GM 5064, Lot 5104, 29/03/2004 (A) 17 Freehold Factory/Glove 3 acres/ 6,494
Level 34, Tower C, Daerah Petaling, Batu 5, Off Jalan Meru, 12½ Miles, manufacturing 54,600
Seksyen U13, Selangor. 41050 Klang, Selangor. Sungei Berinai Road, square feet
Jalan Setia Dagang, Mukim Kapar,
AH U13/AH, Setia Alam, Daerah Klang, Selangor.
40170, Shah Alam,
Selangor. 5) No.1, 3, 5, 7, 9 & 11, HS (M) 33205 - 12/07/2007 (A) 14 Freehold Terrace house/ Approx 108.85 5,926
Jalan Abadi 10D/KU8, HS (M) 33252, Accommodation square metres/unit
102) Lot 5090, Batu 5½, GM 2361, Lot 5090, 01/12/2016 (A) 4 Freehold Factory/Glove 12,104.55 15,972 Taman Daya Maju, Meru, PT 50423 - PT 50470, for staff and
Jalan Meru, Mukim Kapar, manufacturing square metres 41050 Klang, Selangor. Mukim Kapar, worker
41050 Klang, Selangor. Daerah Klang, Selangor. Daerah Klang, Selangor.
103) Lot 5094 & 5977, GM 4326, 26/01/2018 (A) 4 Freehold Factory/ 1.794 acres 6,129 No.1, 2, 3, 4, 5, 6, 7, 8,
Mukim Kapar, Lot 5094 & 5977, Water Process 9, 10, 11 & 12,
Daerah Klang, 4½ Mile Sungai Binjai and Supply Jalan Abadi 10C/KU8,
41050 Klang, Selangor. Road, Mukim Kapar, Taman Daya Maju, Meru,
Daerah Klang, Selangor. 41050 Klang, Selangor.
104) No.257, 259, 261, Lot 177895 to 177899, 03/04/2018 (A) 3 Leasehold Terrace house/ 143 square metres/ 1,678 No.1, 2, 3, 4, 5, 6, 7, 8,
263, 265, Mukim Hulu Kinta, (Expiring on: Accommodation for unit 9, 10, 11 & 12,
Persiaran Taman Tasek, Daerah Kinta, Perak. 03/07/2113) worker & staff Jalan Abadi 10A/KU8,
Taman Tasek Baru, Taman Daya Maju, Meru,
Ipoh, Perak. 41050 Klang, Selangor.
105) Lot 4962, 5th Miles, GM 5100, Lot 4962, 27/06/2018 (A) 3 Freehold Factory/ 3 acres/ 17,774
No.1, 2, 3, 4, 5, 6, 7, 8,
Sungai Binjai Road, Mukim Kapar, Office Building 30,304
9, 10, 11 & 12,
Mukim Kapar, Daerah Klang, Selangor. square feet
Jalan Abadi 10B/KU8,
Taman Daya Maju, Meru,
106) Lot 6494, 5 ¾ Miles, GRN 52391, Lot 6494, 28/10/2020 (A) N/A Freehold Vacant 4.2644 hectares 39,100 41050 Klang, Selangor.
Lorong Sg Puluh, Mukim Kapar,
Mukim Kapar, Daerah Klang, Selangor. No.85, 87, 89, 91, 93 & 95,
41050 Klang, Selangor. Jalan Abadi 1/KU8,
Taman Daya Maju, Meru,
107) Meru Courts Apartment, GRN 44759, Lot 6495, 05/11/2020 (A) <1 Freehold Apartment/ 8,058 17,941 41050 Klang, Selangor.
Batu 6, Jalan Meru, Mukim Kapar, Accommodation for square metres
Mukim Kapar, Daerah Klang, worker 6) Lot 5975, GM 4437, Lot 5975, 03/10/2008 (A) N/A Freehold Vacant 0.0275 hectares/ 201
41050 Klang, Selangor. Selangor. Tempat Batu 4½, Mukim Kapar, 2,960
108) Lot 4930, PT 50022 to 50041, 06/11/2020 (A) N/A Freehold Vacant 37,899.61 3,400 Jalan Sungai Binjai, Daerah Klang, Selangor. square feet
PT 50022 to PT 50041 HS (M) 32838 to square feet 41050 Klang, Selangor.
(20 lots), HS (M) 32857,
Jln Sg Binjai, Mukim Kapar, C) TOP GLOVE ENGINEERING SDN. BHD.
Mukim Kapar, Daerah Klang, Selangor.
41050 Klang, Selangor. 1) GRN 285705, GRN 285705, 18/04/1996 (A) N/A Freehold Land 3.39 acres/ 2,303
Lot 213, Seksyen 2, Lot 213, Seksyen 2, 13,716
109) Lot 6495, 5 ¾ Miles, GRN 44759, Lot 6495, 16/11/2020 (A) N/A Freehold Vacant 41,303.16 32,556 Pekan Bukit Changgang, Pekan Bukit Changgang, square metres
Lorong Sg Puluh, Mukim Kapar, square metres Daerah Kuala Langat, Daerah Kuala Langat,
Mukim Kapar, Daerah Klang, Selangor. Selangor. Selangor.
110) Lot 5116, 6th Miles, GM 1270, Lot 5116, 10/12/2020 (A) N/A Freehold Vacant 1.2141 hectares 5,400 2) GRN 285706, GRN 285706, 18/04/1996 (A) N/A Freehold Land 3.39 acres/ 2,303
Sungai Binjai Road, Mukim Kapar, Lot 214, Seksyen 2, Lot 214, Seksyen 2, 13,711
Mukim Kapar, Daerah Klang, Selangor. Pekan Bukit Changgang, Pekan Bukit Changgang, square metres
41050 Klang, Selangor. Daerah Kuala Langat, Daerah Kuala Langat,
Selangor. Selangor.
111) Lot 5117, 6th Miles, GM 15902 Lot 5117, 10/12/2020 (A) N/A Freehold Vacant 1.2141 hectares 5,400
Sungai Binjai Road, Mukim Kapar,
Mukim Kapar, Daerah Klang, Selangor.

OTHER INFORMATION

AUDITED AUDITED
NET BOOK NET BOOK
3) GRN 285707, GRN 285707, 18/04/1996 (A) N/A Freehold Land 3.39 acres/ 2,302 2) Title Deed No.39553, Title Deed No. 39553, 03/03/2005 (A) N/A Freehold Pond Approx 2.8 acres 731
Lot 215, Seksyen 2, Lot 215, Seksyen 2, 13,708 Moo.5 Pruteaw, Moo.5 Pruteaw, (Thai Baht
Pekan Bukit Changgang, Pekan Bukit Changgang, square metres Karnchanawanich Road, Karnchanawanich Road, 5.70 mil)
Daerah Kuala Langat, Daerah Kuala Langat, Tambon Samnakkham, Tambon Samnakkham,
Selangor. Selangor. Ampur Sadao, Ampur Sadao,
Songkhla 90320, Songkhla 90320,
4) GRN 285708, GRN 285708, 12/06/2012 (A) N/A Freehold Land 19.83 acres 11,606 Thailand. Thailand.
Lot 216, Seksyen 2, Lot 216, Seksyen 2,
Pekan Bukit Changgang, Pekan Bukit Changgang, 3) Nor. Sor. 3 Kor Nor. Sor. 3 Kor 16/11/2010 (A) N/A Freehold Land Approx 32 acres 6,302
Daerah Kuala Langat, Daerah Kuala Langat, No. 637 & 638, No. 637 & 638, (Thai Baht
Selangor. Selangor. Tambon Samnakkham, Tambon Samnakkham, 49.18 mil)
Ampur Sadao, Ampur Sadao,
5) GRN 285709, GRN 285709, 12/06/2012 (A) N/A Freehold Land 7.91 acres 5,152 Songkhla 90320, Songkhla 90320,
Lot 217, Seksyen 2, Lot 217, Seksyen 2, Thailand. Thailand.
Pekan Bukit Changgang, Pekan Bukit Changgang,
Daerah Kuala Langat, Daerah Kuala Langat, 4) Title Deed No.38237 & Title Deed No. 38237 & 01/12/2016 (A) N/A Freehold Land Approx 21 acres 6,702
Selangor. Selangor. 38236, 38236, (Thai Baht
Tambon Samnakkham, Tambon Samnakkham, 52.31 mil)
6) GRN 285710, GRN 285710, 12/06/2012 (A) N/A Freehold Land 6.77 acres 3,965 Ampur Sadao, Ampur Sadao,
Lot 218, Seksyen 2, Lot 218, Seksyen 2, Songkhla 90320, Songkhla 90320,
Pekan Bukit Changgang, Pekan Bukit Changgang, Thailand. Thailand.
Daerah Kuala Langat, Daerah Kuala Langat,
Selangor. Selangor. 5) Title Deed No.35843 Title Deed No.35843 27/09/2019 (A) N/A Freehold Land Approx 2.37 acres 591
Tambon Samnakkham, Tambon Samnakkham, (Thai Baht
7) B-28-03 Setia City HSD 296567, 30/09/2016 (A) <1 Freehold Accommodation 113.43 729 Ampur Sadao, Ampur Sadao, 4.61 mil)
Residence, PT 36938, for staff square metres Songkhla 90320, Songkhla 90320,
No.6, Jalan Setia Mukim Bukit Raja, Thailand. Thailand.
Dagang AH U13/AH, Daerah Petaling,
Setia Alam, Seksyen U13, Selangor. E) TG MEDICAL (U.S.A.), INC.
40170 Shah Alam,
Selangor. 1) 165 - 167 Assessor’s ID 31/03/2005 (A) 16 Freehold Warehouse/ 25,878 8,190
North Aspan Avenue, #8615 018 010 Office building square feet (USD 1.97 mil)
8) B-28-3A Setia City HSD 296567, 30/09/2016 (A) <1 Freehold Accommodation 97.08 636 Azusa,
Residence, PT 36938, for staff square feet CA 91702, USA.
No.6, Jalan Setia Mukim Bukit Raja,
Dagang AH U13/AH, Daerah Petaling, 2) 153 - 155 Assessor’s ID 31/07/2013 (A) 8 Freehold Warehouse/ 25,950 11,555
Setia Alam, Seksyen U13, Selangor. North Aspan Avenue, #8615 018 011 Office building square feet (USD 2.77 mil)
40170 Shah Alam, Azusa,
Selangor. CA 91702, USA.
9) No.11, HS (D) 291298, 05/01/2017 (A) 4 Freehold Bungalow/ 397 1,685 F) TOP GLOVE TECHNOLOGY (THAILAND) CO., LTD.
Jalan Setia Wawasan PT 32069, Accommodation square metres
U13/35D, Mukim Bukit Raja, for staff 1) 188, Moo 5, Channod No.52538, 23/02/2006 (A) 15 Freehold Factory/ Approx 40.4 acres/ 16,705
Bandar Setia Alam, Daerah Petaling, Tambol Pangla, 52539 & 52540, Office building 47,816.68 (Thai Baht
40170 Shah Alam, Selangor. Ampur Sadao, Tambol Pangla, square metres 130.37 mil)
Selangor. Songkhla 90170, Ampur Sadao,
Thailand. Songkhla, Thailand.
10) No.13, HS (D) 291299, 05/01/2017 (A) 4 Freehold Bungalow/ 397 1,678
Jalan Setia Wawasan PT 32070, Accommodation square metres G) GREAT GLOVE (XINGHUA) CO., LTD.
U13/35D, Mukim Bukit Raja, for staff
Bandar Setia Alam, Daerah Petaling, 1) No. 4 Shazhuang Road, No. 4 Shazhuang Road, 13/10/2005 (A) 15 Leasehold Factory/ 112,234.48 12,745
40170 Shah Alam, Selangor. Economic Development Economic Development (Expiring on: Office building, square metres/ (RMB 19.77 mil)
Selangor. District, District, Sept 2056) Industrial usage 30,646.96
Xinghua City, Xinghua City, square metres
D) TOP GLOVE MEDICAL (THAILAND) CO. LTD. 225700 Jiang Su Province, 225700 Jiang Su Province,
P.R.China. P.R.China.
1) 188, Moo 5, 60199, 60200, 28/02/2003 (A) N/A Freehold Land 15.8 acres 3,399
Karnchanawanich Road, 60201 & 60202, (Thai Baht H) B TECH INDUSTRY CO., LTD.
Tambon Samnakkham, Tambon Samnakkham, 26.26 mil)
Sadao, Sadao, 1) 268 M.5 T. 1. Nor Sor 3 Kor 01/08/2006 (A) 15 Freehold Factory/ Approx 44,718 6,177
Songkhla 90320, Songkhla 90320, 28/02/2003 (A) 18 Freehold Factory/Office 9,504 6,055 Kampangphet No. 2361 Office building square metres/ (Thai Baht
Thailand. Thailand. building square metres (Thai Baht A.Rattaphum, 2. Nor Sor 4 Jor 8,754 48.20mil)
47.25 mil) Songkhla 90180, No. 5943 square metres
Thailand. 3. Nor Sor 4 Jor
28/02/2003 (A) 18 Freehold Accommodation 1,200 1,266 No. 5944
for worker square metres (Thai Baht
9.88 mil) 4. Nor Sor 4 Jor 21/08/2009 (A) 12 Freehold Waste water Approx 18.64 acres
No. 5947 pond
01/12/2011 (A) 9 Freehold Factory building 5,134.5 3,025 5. Nor Sor 4 Jor
square metres (Thai Baht No. 5948
23.61 mil) 6. Nor Sor 4 Jor
No. 5949
01/12/2011 (A) 9 Freehold Accommodation 882 1,210 7. Nor Sor 4 Jor
for worker square metres (Thai Baht No. 5950
9.44 mil) 8. Nor Sor 4 Jor
No. 5951

OTHER INFORMATION

AUDITED AUDITED
NET BOOK NET BOOK
I) FLEXITECH SDN. BHD. 6) Lot 4977 & 4978, HS (M) 40486, 01/12/2016 (A) N/A Freehold Land 5.45 acres/ 18,755
Jalan Dahlia, PT 67437, 2.21 hectares
1) Lot 128, Jalan 8, HS (M) 5719, PT 4049, 02/08/2005 (A) 16 Leasehold Production/ Approx 11,916 9,426 Off Jalan Meru, Lot 4977 & 4978,
Komplek Olak Lempit, Komplek Perabot Olak (Expiring on: Warehouse square metres/ 41050 Klang, Selangor. Mukim Kapar, 01/12/2016 (A) 4 Freehold Factory/Building Double storey 6,700
Mukim Tanjung 12, Lempit, 26/09/2087) 6,183 Daerah Klang, Selangor. office building 8,874
42700 Banting, Mukim Tanjung Dua square metres square feet with
Selangor. Belas, 2 single storey
Daerah Kuala Langat, warehouse 83,087
Selangor. square feet
2) Lot 127, Jalan 6, HS (M) 5735, PT 4065, 15/09/2005 (A) 15 Leasehold Accommodation Approx 11,916 3,290 7) Lot 5144, 6th Miles, GM 2306, Lot 5144, 28/12/2016 (A) 2 Freehold Factory Approx 202,824.4 38,280
Komplek Olak Lempit, Komplek Perabot Olak (Expiring on: for worker square metres/ Sungai Binjai Road, Mukim Kapar, square feet
Mukim Tanjung 12, Lempit, 26/09/2087) 6,826 41050 Klang, Selangor. Daerah Klang, Selangor.
42700 Banting, Mukim Tanjung Dua square metres
Selangor. Belas, 8) Lot 5145, 6th Miles, GM 5605, Lot 5145, 28/12/2016 (A) N/A Freehold Vacant Approx 201,468.1 17,984
Daerah Kuala Langat, Sungai Binjai Road, Mukim Kapar, square feet
Selangor. 41050 Klang, Selangor. Daerah Klang, Selangor.
3) Lot 124, Jalan 8, HS (M) 5721, PT 4051, 08/01/2009 (A) 12 Leasehold Production/ Approx 11,966 5,523 9) Lot 5133, Jalan Dahlia, GM 6046, Lot 5133, 31/08/2021 (R) N/A Freehold Vacant Approx 1.897 14,739
Komplek Olak Lempit, Komplek Perabot Olak (Expiring on: Office building square metres/ Off Jalan Meru, Mukim Kapar, hectares
Mukim Tanjung 12, Lempit, 26/09/2087) 10,172 41050 Klang, Selangor. Daerah Klang, Selangor.
42700 Banting, Mukim Tanjung Dua square metres 10) Lot 5054, GM 2642, Lot 5054, 11/07/2017 (A) N/A Freehold Vacant Approx 12,267 11,638
Selangor. Belas, Jalan Kenangan KU8, Mukim Kapar, square metres
Daerah Kuala Langat, Meru, 41050 Klang, Daerah Klang, Selangor.
Selangor. Selangor.
4) Lot 126, Jalan 8, HS (M) 5720, PT 4050, 08/01/2009 (A) 12 Leasehold Production/ Approx 11,966 4,660 11) Lot 5057, GM 5276, Lot 5057, 15/09/2017 (A) N/A Freehold Vacant Approx 1.2267 11,067
Komplek Olak Lempit, Komplek Perabot Olak (Expiring on: Office building square metres/ Jalan Kenangan KU8, Mukim Kapar, hectares
Mukim Tanjung 12, Lempit, 26/09/2087) 6,813 Meru, 41050 Klang, Daerah Klang, Selangor.
42700 Banting, Mukim Tanjung Dua square metres Selangor.
Selangor. Belas,
Daerah Kuala Langat, 12) Lot 67330, Geran Mukim 277, 11/04/2018 (A) N/A Freehold Land 2.091 hectares 19,975
Selangor. Off Jalan Bunga Raya, Lot 5049,
5½ Mile, Jalan Meru, Geran Mukim 149, 11/04/2018 (A) 2 Freehold Factory/Building 119,353.58 43,151
5) No.11, GRN 108819, Lot 630, 29/04/2013 (A) 8 Freehold Accommodation Approx 130 192 41050 Klang, Selangor. Lot 5050, square feet
Jalan Emas 28, Seksyen 5, for staff square metres Mukim Kapar,
Bandar Sungai Emas, Pekan Sungai Manggis, Daerah Klang, Selangor.
42700 Banting, Mukim Tanjong Dua
Selangor. Belas, 13) Lot 6472, GM 52371, Lot 6472, 10/07/2018 (A) 3 Freehold Factory Approx 34,499 65,661
Daerah Kuala Langat, Lorong Sg Puloh/KU6, Mukim Kapar, square metres
Selangor. Kawasan Perindustrian Daerah Klang, Selangor.
Sungai Puloh,
6) No.7, GRN 108817, Lot 628, 19/06/2013 (A) 8 Freehold Accommodation Approx 130 202 42100 Klang, Selangor.
Jalan Emas 28, Seksyen 5, for staff square metres
Bandar Sungai Emas, Pekan Sungai Manggis, 14) Lot 47442, GRN 378905, 14/02/2019 (A) N/A Leasehold Land 217,456 square feet 8,643
42700 Banting, Mukim Tanjong Dua Mukim Hulu Kinta, Lot 47442,
Selangor. Belas, Daerah Kinta, Perak. Mukim Hulu Kinta,
Daerah Kuala Langat, Daerah Kinta, Perak.
Selangor.
15) Lot 4981 & 4982, GM 5117, Lot 4981, 06/05/2019 (A) 2 Freehold Factory 9,609 square metres 40,533
J) TOP QUALITY GLOVE SDN. BHD. Jalan Dahlia/KU8, GM 4325, Lot 4982,
Kawasan Perindustrian Mukim Kapar,
1) Lot 2604, GRN 47717, Lot 2604, 25/01/2013 (A) N/A Freehold Land Approx 1.9526 4,385 Meru Timur, Daerah Klang, Selangor.
Mukim Tanjong Dua Mukim Tanjong Dua hectares/4 acres 41050 Klang, Selangor.
Belas, Belas, 3 rood 12 pole
Daerah Kuala Langat, Daerah Kuala Langat, 16) Lot 4948, GM 1821, Lot 4948, 24/10/2019 (A) N/A Freehold Land Approx 1.2141 11,979
Selangor. Selangor. Tempat Batu 5, Mukim Kapar, hectares
Jalan Binjai, Daerah Klang, Selangor.
2) Lot 2605, GRN 47718, Lot 2605, 25/01/2013 (A) N/A Freehold Land Approx 2.031 4,561 41050 Klang, Selangor.
Mukim Tanjong Dua Mukim Tanjong Dua hectares/5 acres
Belas, Belas, 0 rood 3 pole 17) Lot 12, H.S.(D) 41180 & 41181, 13/07/2020 (A) N/A Freehold Land Approx 67,647 106,075
Daerah Kuala Langat, Daerah Kuala Langat, Jalan Banting Dengkil, No. P.T. 43686, square metres
Selangor. Selangor. Kampong Olak Lempit, Seksyen 2,
42799 Banting, Pekan Bukit Changgang,
3) Lot 2615, GRN 47724, Lot 2615, 25/01/2013 (A) N/A Freehold Land Approx 1.7376 3,902 Selangor. Daerah Kuala Langat,
Mukim Tanjong Dua Mukim Tanjong Dua hectares/4 acres Selangor.
Daerah Kuala Langat, Daerah Kuala Langat, 18) Lot 2606, GRN 47719, Lot 2606, 27/07/2020 (A) N/A Freehold Land Approx 1.9779 4,677
Selangor. Selangor. Mukim Tanjong Dua Mukim Tanjong Dua hectares /4 acres
4) Lot 2616, GRN 47725, Lot 2616, 25/01/2013 (A) N/A Freehold Land Approx 2.0942 4,703 Daerah Kuala Langat, Daerah Kuala Langat,
Mukim Tanjong Dua Mukim Tanjong Dua hectares/5 acres Selangor. Selangor.
Daerah Kuala Langat, Daerah Kuala Langat, 19) Lot 2619, GRN 33015, Lot 2619, 14/08/2020 (A) N/A Freehold Land Approx 2.1347 5,731
Selangor. Selangor. Mukim Tanjong Dua Mukim Tanjong Dua hectares /5 acres
5) Lot 5135, GM 5061, Lot 5135, 10/07/2014 (A) N/A Freehold Vacant Approx 4.656 13,646 Daerah Kuala Langat, Daerah Kuala Langat,
Jalan Dahlia, Mukim Kapar, acres/ Selangor. Selangor.
Off Jalan Meru, Daerah Klang, Selangor. 202,827
41050 Klang, Selangor. square feet

OTHER INFORMATION

AUDITED AUDITED
NET BOOK NET BOOK
20) Lot 4963, GM 319, Lot 4963, 21/08/2020 (A) N/A Freehold Land Approx 1.2141 11,080 L) TOP GLOVE PROPERTIES SDN. BHD.
Tempat Batu 5, Mukim Kapar, hectares
Jalan Sungei Binjai, Daerah Klang, Selangor. 1) No.16, HS (D) 277347, 21/09/2011 (A) 9 Freehold Office Tower 2 acres 163,900
41050 Klang, Selangor. Persiaran Setia Dagang, PT 29363,
Bandar Setia Alam, Mukim Bukit Raja,
21) Lot 13, GR 232381, Lot 13, 11/11/2020 (A) N/A Freehold Land Approx 6.0930 37,546 Seksyen U13, Daerah Petaling,
Pekan Bukit Changgang, Seksyen 2, hectares 40170 Shah Alam, Selangor.
42700 Banting, Selangor. Pekan Bukit Changgang, Selangor.
Daerah Kuala Langat,
Selangor. 2) No.18, HS (D) 293019, 31/08/2021 (R) N/A Freehold Open Space 6,070.30 26,100
Persiaran Setia Dagang, PT 32307, Carpark square metres
22) Lot 204 Seksyen 2, GR 285695, Lot 204, 15/12/2020 (A) N/A Freehold Land Approx 3.9710 15,497 Bandar Setia Alam, Mukim Bukit Raja,
Pekan Bukit Changgang, Seksyen 2, hectares Seksyen U13, Daerah Petaling,
Daerah Kuala Langat, Pekan Bukit Changgang, 40170 Shah Alam, Selangor.
Selangor. Daerah Kuala Langat, Selangor.
Selangor.
3) No.20, HS (D) 293020, 31/08/2021 (R) N/A Freehold Open Space 5,403 23,400
23) Lot 2618, GR 60388, Lot 2618, 12/03/2021 (A) N/A Freehold Land Approx 1.8489 6,754 Persiaran Setia Dagang, PT 32308, Carpark square metres
Mukim Tanjung Dua Belas, Mukim Tanjung Dua Belas, hectares Bandar Setia Alam, Mukim Bukit Raja,
Daerah Kuala Langat, Daerah Kuala Langat, Seksyen U13, Daerah Petaling,
Selangor. Selangor. 40170 Shah Alam, Selangor.
Selangor.
24) Lot 2617, GR 47726, Lot 2617, 06/04/2021 (A) N/A Freehold Land Approx 2.1499 7,696
Mukim Tanjung Dua Belas, Mukim Tanjung Dua Belas, hectares M) PT. AGRO PRATAMA SEJAHTERA
Daerah Kuala Langat, Daerah Kuala Langat,
Selangor. Selangor. 1) The City Tower, Bangka Belitung 01/10/2012 (A) 8 Leasehold Industrial Forest 30,773 20,833
12th Floor 1N, Province (Expiring on: Plantation hectares (IDR 71.84 bil)
25) Lot 2600, GR 47741, Lot 2600, 10/05/2021 (A) N/A Freehold Land Approx 1.9880 5,093 JL MH Thamrin No.81, 18/03/2071)
Mukim Tanjung Dua Belas, Mukim Tanjung Dua Belas, hectares Jakarta Pusat 10310,
Daerah Kuala Langat, Daerah Kuala Langat, Indonesia.
Selangor. Selangor.
N) TG PORCELAIN SDN. BHD.
26) Lot 2601, PT 51671, H.S.(D) 48660, 25/05/2021 (A) N/A Freehold Land Approx 0.8107 2,075
Mukim Tanjung Dua Belas, Lot 2601, hectares 1) Lot 4946, Lot 4946, 01/05/2018 (A) 3 Freehold Factory/Former 52,513.14 6,266
Daerah Kuala Langat, Mukim Tanjung Dua Belas, Jalan Teratai, Batu 6, Jalan Teratai, Batu 6, Manufacturing square feet
Selangor. Daerah Kuala Langat, Off Jalan Meru, Off Jalan Meru,
Selangor. 41050 Klang, Selangor. 41050 Klang, Selangor.
27) Lot 2631, GR 47745, Lot 2631, 25/05/2021 (A) N/A Freehold Land Approx 0.8574 2,196 O) ASPION GROUP
Mukim Tanjung Dua Belas, Mukim Tanjung Dua Belas, hectares 1) Lot 7, Jalan Hi Tech 12, Lot 7 (PT2487), 04/07/2013 (A) N/A Leasehold Land 2,252,052 44,133
Daerah Kuala Langat, Daerah Kuala Langat, Kulim Hi Tech Park Kulim Hi-Tech Park, (Expiring on square feet
Selangor. Selangor. (Phase 3), Bandar Kulim, 03/07/2073)
09090 Kulim, Kedah. Daerah Kulim, 8 Factory 1,316,383 25,710
K) GMP MEDICARE SDN. BHD. square feet
Kedah.
1) Lot 4985, GM 2321, Lot 4985, 18/06/2010 (A) 11 Freehold Factory/Glove 3 acres 9,586
Tempat Batu 5, Mukim Kapar, manufacturing 2) Lot E4(3) [PT 4093], Lot No 5052, 05/04/2018 (A) N/A Leasehold Land 2.184 hectares 4,798
Jalan Sungai Binjai, Daerah Klang, Selangor. No. 2, Jalan 8, Mukim Panchor, (Expiring on:
Kawasan Perindustrian Daerah Kota Bharu, 05/04/2018 (A) 16 15/02/2063) Factory/Office 9,496.09 7,617
41050 Klang, Selangor. square metres
Pengkalan Chepa II, Kelantan.
2) Lot 2431, Lot 11558, 06/12/2012 (A) Phase 1: Freehold Factory/Glove 16.7 acres/ 24,868 16100 Kota Bharu,
Mukim Port Dickson, (Baki Lot 2431, 22 years manufacturing 22,000 Kelantan.
Sendayan, PA 50813) square metres
71100 Siliau, Mukim Port Dickson, Phase 2: 3) PLO 9 & 18, PTD 84462, 05/04/2018 (A) N/A Leasehold Land 2.2781 hectares 2,829
Port Dickson, Daerah Port Dickson, 19 years Jalan Mahsuri 1, 7.5km Mukim Kluang, (Expiring on:
Jalan Mersing, Daerah Kluang, 05/04/2018 (A) 10 28/08/2053) Factory Building 12,225.98 9,222
Negeri Sembilan. Negeri Sembilan. square metres
Kawasan Perindustrian Johor.
3) Lot 4991, HS (M) 39325, 01/08/2013 (A) 8 Freehold Factory/Glove 75,669 9,345 Kluang,
Jalan Bunga Raya, PT 64593, manufacturing square feet 86007 Kluang, Johor.
Batu 5½, Off Jalan Meru, Mukim Kapar,
41050 Klang, Selangor. Daerah Klang, Selangor. 4) Lot E4(4) [PT 4094], Lot No 5053, 05/04/2018 (A) N/A Leasehold Land 2.341 hectares 5,141
Jalan 8, Mukim Panchor, (Expiring on:
4) Lot 3726, GRN 164813, Lot 8196, 14/08/2017 (A) N/A Freehold Land Approx 4.326 19,752 Kawasan Perindustrian Daerah Kota Bharu, 05/04/2018 (A) 13 15/02/2063) Factory Building 14,604.21 8,229
Kawasan Perindustrian Mukim Setul, acres Pengkalan Chepa II, Kelantan. square metres
Nilai, Mukim Setul, Daerah Seremban, 16100 Kota Bharu,
Daerah Seremban, Negeri Sembilan. Kelantan.
71800 Nilai,
Negeri Sembilan. 5) Lot E4(6) & Lot E4(7) Lot No 5050, 5051, 05/04/2018 (A) N/A Leasehold Land/ Lot 5050: 2.640 10,675
[PT 4091 & PT 4092], Mukim Panchor, (Expiring on: Biomass plant hectares
5) Lot 3726, Lot 3726, 14/08/2017 (A) 4 Freehold Factory/Glove Approx 14,256 6,970 Kawasan Perindustrian Daerah Kota Bharu, 15/02/2063) Lot 5051: 2.366
Kawasan Perindustrian Kawasan Perindustrian manufacturing square metres/ Pengkalan Chepa II, Kelantan. hectares
Nilai, Mukim Setul, Nilai, Mukim Setul, 153,450 16100 Kota Bharu,
Daerah Seremban, Daerah Seremban, square feet Kelantan. 05/04/2018 (A) 15 Factory/ 10,546.36 5,879
71800 Nilai, 71800 Nilai, Warehouse square metres
Negeri Sembilan. Negeri Sembilan. 05/04/2018 (A) 7 Freehold Office building/ 2.64 hectares 4,868
Warehouse

OTHER INFORMATION

AUDITED AUDITED
NET BOOK NET BOOK
6) PLO 5, Jalan Mahsuri 1, Lot PTD 38818 , 05/04/2018 (A) N/A Leasehold Land 3 acres 1,517 5) Unit B2-602 Block 2, Lot 10970, Section 16, 05/01/2018 (A) 23 Leasehold Workers apartment 823 59
7.5KM, Jalan Mersing, No. HS (D) 23914, (Expiring on: Pangsapuri Anggerik Shah Alam/Petaling/ (Expiring on: square feet
Kawasan Perindustrian Mukim of Kluang, 05/04/2018 (A) 33 01/10/2049) Factory/Glove 7,515.14 3,323 Indah, Pajakan Negeri 110147 01/03/2099)
Kluang, Daerah Kluang, manufacturing square metres Jalan Sempadan 16/7, Apartment.
86000 Kluang, Johor. Johor. Seksyen 16,
40200 Shah Alam,
7) PLO 12, Jalan Mahsuri 1, Lot PTD 26427, 05/04/2018 (A) N/A Leasehold Land 3.206 acres 1,198 Selangor.
7.5KM, Jalan Mersing, No. HS (D) 25436, (Expiring on:
Kawasan Perindustrian Mukim of Kluang, 05/04/2018 (A) 14 07/11/2050) Factory/Glove 8,929.41 3,901
6) Unit B2-604 Block 2, Lot 10970, Section 16, 05/01/2018 (A) 23 Leasehold Workers apartment 740 65
Kluang, Daerah Kluang, manufacturing square metres
Pangsapuri Anggerik Shah Alam/Petaling/ (Expiring on: square feet
86000 Kluang, Johor. Johor. Indah, Pajakan Negeri 110147 01/03/2099)
Jalan Sempadan 16/7, Apartment.
8) Lot 366, GM 2547, 05/04/2018 (A) N/A Freehold Agricultural land 1.467 hectares 363
Seksyen 16,
GM 2547, Mukim of Kluang,
40200 Shah Alam,
Mukim of Kluang, Daerah Kluang,
Selangor.
Daerah Kluang, Johor. Johor.
P) GREAT GLOVE (THAILAND) CO., LTD. 7) Lot 9, HS (D) 167468, No 9, 30/08/2018 (A) 3 Leasehold Production use 1,774.39 2,854
Jalan Paku 16/6, Mukim Damansara, (Expiring on: square metres/
1) 180/3 Moo.7, 180/3 Moo.7, 28/02/2006 (A) 15 Freehold Building Block A 3,832 2,865 40000 Shah Alam, Daerah Petaling, 03/04/2068) 989.14
Srisonthon Rd., Srisonthon Rd., square metres (Thai Baht Selangor. Selangor. square metres
T.Srisonthon, T.Srisonthon, 22.36 mil)
A.Thalang, A.Thalang, 8) Lot 7, HS (D) 308675, Lot 7, 21/12/2018 (A) 2 Leasehold Production use 1,774.39 3,381
Phuket 83110 Thailand. Phuket 83110 Thailand. 01/10/2016 (A) 4 Freehold Building Block B 4,616 8,012
Jalan Paku 16/6, Mukim Damansara, (Expiring on: square metres/
square metres (Thai Baht
40000 Shah Alam, Daerah Petaling, 03/04/2068) 973.39
62.53 mil)
Selangor. Selangor. square metres
2) Title Deed No.64761, Title Deed No.64761, 05/09/2019 (A) N/A Freehold Pond Approx 13.5 acres 2,467
64762, 64763, 64762, 64763, (Thai Baht 9) Unit 7-10-1, Lot 745, Section 16, 21/02/2019 (A) 2 Leasehold Workers apartment 894 272
Moo.7 Srisonthon Rd., Moo.7 Srisonthon Rd., 19.25 mil) Suria Avenue, Lot 1, Shah Alam/Petaling/ (Expiring on: square feet
T.Srisonthon, T.Srisonthon, Jalan Dawai 16/2, Pajakan Negeri 22/01/2072)
A.Thalang, A.Thalang, Seksyen 16, 24691/M1/10/145
Phuket 83110 Thailand. Phuket 83110 Thailand. 40200 Shah Alam, Apartment.
Selangor.
Q) TG FMT SDN. BHD.
10) Unit 9-10-1, Lot 745, Section 16, 21/02/2019 (A) 2 Leasehold Workers apartment 1,006 272
1) Lot 4987, Block B, Lot 4987, 01/06/2017 (A) 4 Freehold Building 31,345 3,854
Suria Avenue, Lot 1, Shah Alam/Petaling/ (Expiring on: square feet
Jalan Bunga Raya, Jalan Bunga Raya, square feet
Jalan Dawai 16/2, Pajakan Negeri 22/01/2072)
Batu 6 Off Jalan Meru, Batu 6 Off Jalan Meru,
Seksyen 16, 24691/M1/10/145
41050 Klang, Selangor. 41050 Klang, Selangor.
40200 Shah Alam, Apartment.
R) EASTERN PRESS SDN. BHD. Selangor.
1) Lot 1, HS (D) 167430, Lot 1, 05/01/2018 (A) 7 Leasehold Production use 3,121.44 5,152 11) Lot 11, HS (D) 79920, No 11, 08/05/2019 (A) 2 Leasehold Production use 1,774.39 2,827
Jalan Paku 16/6, Mukim Damansara, (Expiring on: square metres/ Jalan Paku 16/6, Mukim Damansara, (Expiring on: square metres/
40000 Shah Alam, Petaling Jaya, Selangor. 03/04/2068) 1,148.84 40000 Shah Alam, Daerah Petaling, 15/01/2068) 772.06
Selangor. square metres Selangor. Selangor. square metres
2) Lot 3, Q.T. R. 4248 L.O.No 05/01/2018 (A) 31 Leasehold Production use 1,774.39 4,871
S) TOP GLOVE VIETNAM COMPANY LIMITED
Jalan Paku 16/6, Lot 3, Jalan Paku 2/6, (Expiring on: square metres/
40000 Shah Alam, Mukim Damansara, 03/04/2068) 1,038.19
Selangor. District Klang. square metres 1) Land Lot A_8B_CN, Land Lot A_8B_CN, 07/05/2018 (A) 3 Leasehold Production Office 218,212 73,681
Bau Bang Industrial Bau Bang Industrial (Expiring on: Warehouse square metres (USD 17.67 mil)
3) Lot 5, Kawasan Kilang 05/01/2018 (A) 34 Leasehold Production use 1,774.39 3,946 Park, Park, 20/06/2057)
Jalan Paku 16/6, Berderet Seksyen 16, (Expiring on: square metres/ Lai Uyen Town, Lai Uyen Town,
40000 Shah Alam, Shah Alam, Selangor. 03/04/2068) 1,209.96 Bau Bang District, Bau Bang District,
Selangor. square metres Binh Duong Province, Binh Duong Province,
Vietnam. Vietnam.
4) Lot 13 & Lot 15, Q.T. R. 4253 & 4254, 05/01/2018 (A) 25 Leasehold Production use Lot 13: 7,366
Jalan Paku 2/6, Jalan Paku 2/6, (Expiring on: 1,755.81
40000 Shah Alam, Mukim of Damansara, 15/01/2068) square metres/
Selangor. District Klang. 951.6
square metres
25 Production use Lot 15:
1,718.65
square metres/
1,137.51
square metres

OTHER INFORMATION
ANALYSIS OF SHAREHOLDINGS ANALYSIS OF SHAREHOLDINGS

As at 27 October 2021 (cont’d)
As at 27 October 2021
Share Capital 3. DIRECTORS’ SHAREHOLDINGS

Total Issued Shares : 8,207,013,034 Ordinary Shares (including 199,913,800 Treasury Shares)
Types of Shares : Ordinary Shares The Directors’ Shareholdings of Top Glove based on the Register of Directors’ Shareholdings and/or Record of Depositors
Voting Rights : One (1) vote per Ordinary Share on a poll are as follows:
No. of Ordinary Shares Held

1. DISTRIBUTION OF SHAREHOLDINGS No. Name of Directors Direct %^ Indirect %^
1. Tan Sri Dr Lim Wee Chai 2,159,032,356 26.964 680,191,448 * 8.495
Size of Holdings No. of Holders^ %^ No. of Holdings^ %^ 2. Tan Sri Rainer Althoff 2,000 0.000 - -
1 to 99 571 0.44 12,366 0.00 3. Dato’ Lee Kim Meow 1,782,000 0.022 120,000 ** 0.001
4. Puan Sri Tong Siew Bee 22,562,876 0.282 2,816,660,928 *** 35.177
100 to 1,000 35,922 27.68 23,761,104 0.30
5. Lim Hooi Sin 100,061,244 1.250 2,738,962,560 **** 34.207
1,001 to 10,000 68,964 53.13 288,095,062 3.60
6. Lim Cheong Guan 418,000 0.005 - -
10,001 to 100,000 21,796 16.79 600,843,264 7.50
7. Dato’ Lim Han Boon 260,000 0.003 - -
100,001 to 400,354,960 2,542 1.96 5,324,325,924 66.50 8. Datuk Noripah Kamso 205,000 0.003 - -
(less than 5% of Issued Shares)
9. Sharmila Sekarajasekaran 30,037,500 0.375 1,200,000 ***** 0.015
400,354,961 3 0.00 1,770,061,514 22.11 10. Datuk Dr. Norma Mansor - - 32,900 ****** 0.000
(5% of Issued Shares) and above 11. Azrina Arshad 10,000 0.000 - -
Total 129,798 100.00 8,007,099,234* 100.00 12. Lim Andy 307,500 0.004 - -
Note: Note:
^ Excluding Treasury Shares ^ Calculated based on 8,007,099,234 Ordinary Shares (Issued share capital of 8,207,013,034 Ordinary Shares less
* Out of the total holdings of 8,007,099,234 shares, 612,170,048 shares were traded in Singapore Exchange Securities Treasury Shares of 199,913,800)
Trading Limited * Deemed interested by virtue of the shareholding of Puan Sri Tong Siew Bee, Mr. Lim Hooi Sin, Mr. Lim Jin Feng,
Firstway United Corp, Top Fortress Ventures Limited and TS Dr Lim WC (L) Foundation in Top Glove
** Deemed interested through his wife, Madam Chung Lee Moy
*** Deemed interested by virtue of the shareholding of Tan Sri Dr Lim Wee Chai, Mr. Lim Hooi Sin, Mr. Lim Jin Feng,
2. SUBSTANTIAL SHAREHOLDERS Firstway United Corp, Top Fortress Ventures Limited and TS Dr Lim WC (L) Foundation in Top Glove
**** Deemed interested by virtue of the shareholding of Tan Sri Dr Lim Wee Chai, Puan Sri Tong Siew Bee, Firstway United
The Substantial Shareholders of the Company based on the Register of Substantial Shareholders of the Company and their Corp, Top Fortress Ventures Limited and TS Dr Lim WC (L) Foundation in Top Glove
respective shareholdings are as follows: ***** Deemed interested by virtue of her direct interest in Trinity Worldwide Holdings Limited
****** Deemed interested through her husband, Shamsuddin Bin Ali Hussin
No. of Ordinary Shares Held
The Directors’ Share Options held under the Employees’ Share Option Scheme of the Company based on the Register of
No. Name of Substantial Shareholders Direct %^ Indirect %^ Directors’ Shareholding are as follows:
1. Tan Sri Dr Lim Wee Chai 2,159,032,356 26.964 680,191,448 * 8.495
2. Puan Sri Tong Siew Bee 22,562,876 0.282 2,816,660,928 ** 35.177 No. of Options Held
3. Lim Hooi Sin 100,061,244 1.250 2,738,962,560 *** 34.207 No. Name of Directors Direct Indirect
1. Tan Sri Dr Lim Wee Chai 3,131,700 871,100 *
4. Lim Jin Feng 200,000 0.002 2,738,962,560 *** 34.207
2. Tan Sri Rainer Althoff - -
5. Firstway United Corp 554,966,328 6.931 - -
3. Dato’ Lee Kim Meow - -
6. Employees Provident Fund Board 498,567,966 6.227 - -
4. Puan Sri Tong Siew Bee 127,500 3,875,300 **
5. Lim Hooi Sin 600,500 3,259,200 ***
Note:
6. Lim Cheong Guan 577,500 -
^ Calculated based on 8,007,099,234 Ordinary Shares (Issued share capital of 8,207,013,034 Ordinary Shares less
Treasury Shares of 199,913,800) 7. Dato’ Lim Han Boon - -
* Deemed interested by virtue of the shareholding of Puan Sri Tong Siew Bee, Mr. Lim Hooi Sin, Mr. Lim Jin Feng, 8. Datuk Noripah Kamso - -
Firstway United Corp, Top Fortress Ventures Limited and TS Dr Lim WC (L) Foundation in Top Glove 9. Sharmila Sekarajasekaran - -
** Deemed interested by virtue of the shareholding of Tan Sri Dr Lim Wee Chai, Mr. Lim Hooi Sin, Mr. Lim Jin Feng, 10. Datuk Dr. Norma Mansor - -
Firstway United Corp, Top Fortress Ventures Limited and TS Dr Lim WC (L) Foundation in Top Glove 11. Azrina Arshad - -
*** Deemed interested by virtue of the shareholding of Tan Sri Dr Lim Wee Chai, Puan Sri Tong Siew Bee, Firstway United 12. Lim Andy - -
Corp, Top Fortress Ventures Limited and TS Dr Lim WC (L) Foundation in Top Glove
Note:
* Deemed interested through Puan Sri Tong Siew Bee, Mr. Lim Hooi Sin and Mr. Lim Jin Feng’s options held in Top Glove
** Deemed interested through Tan Sri Dr Lim Wee Chai, Mr. Lim Hooi Sin and Mr. Lim Jin Feng’s options held in Top Glove
*** Deemed interested through Tan Sri Dr Lim Wee Chai and Puan Sri Tong Siew Bee’s options held in Top Glove

OTHER INFORMATION
ANALYSIS OF SHAREHOLDINGS
As at 27 October 2021 (cont’d)
NOTICE OF THE TWENTY THIRD
ANNUAL GENERAL MEETING
4. THIRTY (30) LARGEST SECURITIES ACCOUNT HOLDERS AS PER THE RECORD OF DEPOSITORS NOTICE IS HEREBY GIVEN THAT the Twenty Third Annual General Meeting (“23rd AGM”) of Top Glove Corporation Bhd
No. Names Shareholdings %^ (“Top Glove” or “Company”) will be conducted virtually for the purpose of considering and if thought fit, passing with or without
1. CIMSEC Nominees (Tempatan) Sdn. Bhd. 743,833,200 9.29 modifications, the resolutions set out in this notice:
- CIMB for Tan Sri Dr Lim Wee Chai (PB)
2. Citigroup Nominees (Asing) Sdn. Bhd. 612,170,048 7.65 Day and Date : Thursday, 6 January 2022
- Exempt An for The Central Depository (Pte) Limited Time : 10:30 a.m.
3. Citigroup Nominees (Tempatan) Sdn. Bhd. 414,058,266 5.17 Broadcast Venue : TG Grand Ballroom
- Employees Provident Fund Board
Level 9, Top Glove Tower, 16, Persiaran Setia Dagang, Setia Alam,
4. Citigroup Nominees (Tempatan) Sdn. Bhd. 225,200,000 2.81
Seksyen U13, 40170 Shah Alam, Selangor Darul Ehsan, Malaysia
- Exempt An for Bank of Singapore Limited (Local)
5. CIMSEC Nominees (Asing) Sdn. Bhd. 182,245,528 2.28 (Members/Proxies/Corporate Representatives will not be allowed to be physically present
- CIMB for Firstway United Corp (PB) at the Broadcast Venue)
6. Citigroup Nominees (Asing) Sdn. Bhd. 166,230,000 2.08 Online Meeting Platform : Securities Services ePortal https://sshsb.net.my/
- Exempt An for UBS AG Singapore (Foreign) Modes of Communication : 1. Typed text in the Online Meeting Platform
7. CIMB Group Nominees (Tempatan) Sdn. Bhd. 150,000,000 1.87 2. Email your questions to topglovecosec@topglove.com.my prior to the 23rd AGM
- Pledged securities account – DBS Bank Ltd for Tan Sri Dr Lim Wee Chai (SG1400360353)
8. Tan Sri Dr Lim Wee Chai 143,478,700 1.79
9. MFP Capital Corporation 125,952,922 1.57
AGENDA
10. UOBM Nominees (Tempatan) Sdn. Bhd. 122,100,000 1.52
- United Overseas Bank Nominees (Pte) Ltd for Tan Sri Dr Lim Wee Chai 1. To receive the Audited Financial Statements for the financial year ended 31 August 2021 together
11. Kumpulan Wang Persaraan (Diperbadankan) 121,735,550 1.52 with the Reports of the Directors and the Auditors thereon.
12. HSBC Nominees (Tempatan) Sdn. Bhd. 114,000,000 1.42
- Pledged securities account – HBAP SG for Tan Sri Dr Lim Wee Chai (PB-SGDIV) Please refer to Explanatory Note 1
13. UOBM Nominees (Tempatan) Sdn. Bhd. 105,900,000 1.32
- United Overseas Bank Nominees (Pte) Ltd for Tan Sri Dr Lim Wee Chai 2. To re-elect the following Directors who retire pursuant to Article 94 of the Company’s Constitution
14. Maybank Nominees (Tempatan) Sdn. Bhd. 90,000,000 1.12 and being eligible, have offered themselves for re-election:
- Nomura Singapore Limited for Tan Sri Dr Lim Wee Chai (419597)
15. HSBC Nominees (Asing) Sdn. Bhd. 73,683,690 0.92
(a) Lim Hooi Sin (Resolution 1)
- JPMCB NA for Vanguard Emerging Markets Stock Index Fund
(b) Dato’ Lee Kim Meow (Resolution 2)
- J.P. Morgan Securities PLC (c) Azrina Arshad (Resolution 3)
- JPMCB NA for Vanguard Total International Stock Index Fund Please refer to Explanatory Note 2
18. Cartaban Nominees (Asing) Sdn. Bhd. 65,331,394 0.82
- Exempt An for State Street Bank & Trust Company (West CLT OD67) 3. To approve the payment of Directors’ fees for the financial year ended 31 August 2021.
19. Lim Hooi Sin 61,736,760 0.77
20. Citigroup Nominees (Tempatan) Sdn. Bhd. 60,926,200 0.76 Please refer to Explanatory Note 3 (Resolution 4)
- Exempt An for AIA Bhd.
21. Maybank Nominees (Tempatan) Sdn. Bhd. 60,000,000 0.75
4. To approve the payment of Directors’ benefits (excluding Directors’ fees) to the Non-Executive
- Maybank Trustees Berhad for Public Ittikal Fund (N14011970240)
Directors up to an amount of RM300,000.00 from 7 January 2022 until the next Annual General
22. RHB Capital Nominees (Asing) Sdn. Bhd. 59,600,000 0.74
- Pledged securities account for Firstway United Corp (RHB Bank (L) Ltd) Meeting of the Company to be held in year 2023.
23. Cartaban Nominees (Tempatan) Sdn. Bhd. 57,940,000 0.72
- Exempt An for LGT Bank AG (Local) Please refer to Explanatory Note 4 (Resolution 5)
24. Cartaban Nominees (Tempatan) Sdn. Bhd. 56,686,600 0.71
- PAMB for Prulink Equity Fund 5. To re-appoint Messrs. Ernst & Young PLT as Auditors of the Company until the conclusion of the next
25. Tan Sri Dr Lim Wee Chai 55,800,000 0.70 Annual General Meeting and to authorise the Directors to fix their remuneration.
26. Maybank Nominees (Tempatan) Sdn. Bhd. 48,269,500 0.60
- Maybank Trustees Berhad for Public Regular Savings Fund (N14011940100) Please refer to Explanatory Note 5 (Resolution 6)
27. Citigroup Nominees (Tempatan) Sdn. Bhd. 48,000,000 0.60
- Bank of Singapore Limited for Tan Sri Dr Lim Wee Chai
6. As Special Business
28. Cartaban Nominees (Asing) Sdn. Bhd. 47,837,189 0.60
- State Street Australia Fund Remi for Retail Employees Superannuation Trust
29. RHB Nominees (Tempatan) Sdn. Bhd. 46,856,200 0.59 To consider and, if thought fit, with or without any modification, to pass the following resolutions
- Tan Sri Dr Lim Wee Chai which will be proposed as Ordinary Resolutions:
30. Tan Sri Dr Lim Wee Chai 46,853,256 0.59
Total 4,247,803,225 53.05
Note:
^ Calculated based on 8,007,099,234 Ordinary Shares (Issued share capital of 8,207,013,034 Ordinary Shares less Treasury Shares of
199,913,800)

OTHER INFORMATION
NOTICE OF THE TWENTY THIRD NOTICE OF THE TWENTY THIRD

ANNUAL GENERAL MEETING ANNUAL GENERAL MEETING
(a) Ordinary Resolution No. 1 AND THAT the Board be and is hereby authorised to take such steps to give full effect to the
Authority to Issue Shares pursuant to the Companies Act 2016 (“the Act”) Proposed Share Buy-Back with full power to assent to any condition, modification, variation
and/or amendment as may be imposed by the relevant authorities and/or to do all such acts
“THAT subject to the Act, the Constitution of the Company, and the approvals from Bursa and things as the Board may deem fit and expedient in the best interest of the Company.”
Malaysia Securities Berhad (“Bursa Securities”) and any relevant governmental/regulatory
authority, the Directors of the Company be and are hereby empowered, pursuant to the Act, Please refer to Explanatory Note 7 (Resolution 8)
to issue and allot shares in the Company, at any time to such persons and upon such terms
and conditions and for such purposes as the Directors may, in their absolute discretion, deem 7. To transact any other ordinary business for which due notice shall have been given.
fit, provided that the aggregate number of shares issued pursuant to this resolution does not
exceed ten per centum (10%) of the total number of issued shares of the Company for the time By Order of the Board of Directors
being; AND THAT the Directors be and are also empowered to obtain the approval for the listing
of and quotation for the additional shares so issued on Bursa Securities; AND FURTHER THAT CHUA SIEW CHUAN CHIN MUN YEE LIM KEAT SEE
such authority shall commence immediately upon the passing of this resolution and continue SSM PC No.: 201908002648 SSM PC No.: 201908002785 SSM PC No.: 201908001159
to be in force until the conclusion of the next Annual General Meeting of the Company.” MAICSA No.: 0777689 MAICSA No.: 7019243 MAICSA No.: 7020290
Chartered Secretary Chartered Secretary Chartered Secretary
Please refer to Explanatory Note 6 (Resolution 7)
Shah Alam
(b) Ordinary Resolution No. 2 12 November 2021
Proposed Renewal of Share Buy-Back Authority
NOTES:
“THAT subject to the Companies Act 2016 (“the Act”), the Company’s Constitution, Bursa
Malaysia Securities Berhad (“Bursa Securities”) Main Market Listing Requirements (“Main
1. The 23rd AGM will be conducted virtually through live through a text box within Securities Services ePortal’s
LR”) and the approvals of all relevant governmental and/or regulatory authorities (if any), the
streaming and online remote voting via the Remote platform during live streaming of the 23rd AGM as the
Company be and is hereby authorised to purchase such amount of ordinary shares in the
Participation and Voting (“RPV”) facilities to be provided primary mode of communication. In the event of any
Company (“Proposed Share Buy-Back”) as may be determined by the Board of Directors
by SS E Solutions Sdn. Bhd. via Securities Services technical glitch in the primary mode of communication,
(“Board”) from time to time through Bursa Securities upon such terms and conditions as the
ePortal’s platform at https://sshsb.net.my/. Please shareholders, proxies and corporate representatives
Board may deem fit and expedient in the interest of the Company provided that the aggregate
follow the procedures provided in the Administrative may email their questions to eservices@sshsb.com.my
number of shares purchased pursuant to this resolution shall not exceed ten per centum (10%)
Details for the 23rd AGM in order to register, participate during the 23rd AGM.
of the total number of issued shares of the Company;
and vote remotely via the RPV facilities.
5. Where a holder appoints more than one (1) proxy, the
THAT the maximum amount of funds to be utilised for the purpose of the Proposed Share
2. The Broadcast Venue is strictly for the purpose of appointment shall be invalid unless he/she specifies the
Buy-Back shall not exceed the aggregate retained profits of the Company based on its audited
complying with Section 327(2) of the Companies Act proportion of his/her shareholdings to be represented
financial statements for the financial year ended 31 August 2021 of RM2,492,055,000;
2016 (“the Act”) and Article 64A of the Company’s by each proxy.
Constitution which require the Chairman of the Meeting
THAT at the discretion of the Board, the shares of the Company to be purchased are proposed
to be present at the main venue of the Meeting. Members/ 6. The instrument appointing a proxy or representative and
to be cancelled and/or retained as treasury shares and/or distributed as dividends and/or resold
proxies/corporate representatives will not be allowed to the duly registered power of attorney or other authority,
on Bursa Securities and/or transferred the shares for the purposes of or under an employees’
be physically present at the Broadcast Venue. if any, shall be in writing under the hand of the appointor
share scheme in the manner as prescribed by the Act, rules, regulations and orders made
or his/her attorney duly appointed under a Power of
pursuant to the Act and Bursa Securities Main LR and any other relevant authorities for the time
3. In respect of deposited securities, only members Attorney or, if such appointor is a corporation, either
being in force;
whose names appear in the Record of Depositors on under its seal or under the hand of an officer or attorney
31 December 2021 (General Meeting Record of duly appointed under a Power of Attorney.
THAT such authority shall commence immediately upon passing of this resolution until:
Depositors) shall be eligible to participate in the 23rd AGM.
7. Where a member of the Company is an exempt
(i) the conclusion of the next Annual General Meeting of the Company following this general
4. A member of the Company entitled to participate and vote authorised nominee which holds ordinary shares in
meeting at which such resolution was passed at which time it will lapse unless by ordinary
at the 23rd AGM is entitled to appoint not more than two the Company for multiple beneficial owners in one
resolution passed at that Meeting, the authority is renewed, either unconditionally or
(2) proxies to participate, speak and vote in his/her stead. (1) securities account (“Omnibus Account”), there
subject to conditions;
A proxy may but need not be a member of the Company is no limit to the number of proxies which the exempt
and a member may appoint any person to be his/her authorised nominee may appoint in respect of each
(ii) the expiration of the period within which the next Annual General Meeting after that date
proxy. There shall be no restriction as to the qualification Omnibus Account it holds.
is required by law to be held; or
of the proxy. A proxy appointed by the member shall have
the same rights as the member to participate, speak and 8. The instrument appointing a proxy may be made via
(iii) the authority is revoked or varied by ordinary resolution passed by the shareholders of the
vote at the 23rd AGM. The members or their proxies or hardcopy or by electronic means in the following
Company in general meeting,
their corporate representatives may submit questions to manner and must be received by the Company not less
the Company at topglovecosec@topglove.com.my prior than forty-eight (48) hours before the time appointed
whichever is the earlier;
to the 23rd AGM or via real time submission of typed texts for holding the 23rd AGM or at any adjournment thereof:

OTHER INFORMATION
NOTICE OF THE TWENTY THIRD NOTICE OF THE TWENTY THIRD

ANNUAL GENERAL MEETING ANNUAL GENERAL MEETING
(i) In Hardcopy Form Puan Sri Tong Siew Bee, the Non-Independent Non-Executive Director of the Company who has served on the Board for
The proxy form shall be deposited at the Share Registrar’s office, Securities Services (Holdings) Sdn. Bhd. at Level more than 21 years and who retires by rotation in accordance with Article 94 of the Company’s Constitution, has notified
7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur, Wilayah the Board that she does not wish to seek for re-election as Director. Hence, she shall retire as Director at the conclusion of
Persekutuan, Malaysia. the 23rd AGM.
(ii) By Electronic Means The profiles of the Directors who are standing for re-election are stated on pages 17, 20 and 26 of the Integrated Annual
The proxy form shall be electronically lodged via Securities Services ePortal’s platform at https://sshsb.net.my/ or Report 2021.
by fax to +603 2094 9940 or by email to eservices@sshsb.com.my.
Any Director referred to in Resolutions 1 to 3, who is a shareholder of the Company will abstain from voting on the resolution
EXPLANATORY NOTES: in respect of his/her re-election at the 23rd AGM.
1. Audited Financial Statements for the financial year ended 31 August 2021 3. Determination and Payment of Directors’ Fees
The Audited Financial Statements under Agenda 1 is meant for discussion only as the provision of Section 340(1) of the Act Paragraph 7.24 of Bursa Securities Main LR stipulates that the fees of Directors and any benefits payable to Directors shall
does not require the Audited Financial Statements to be formally approved by the shareholders. As such, this item is not be subject to annual shareholders’ approval at a general meeting. Therefore, shareholders’ approval is required for the
put forward for voting. determination and payment of Directors’ fees amounting to RM1,831,500 for the financial year ended 31 August 2021.
2. Re-election of Directors who retire by rotation pursuant to Article 94 of the Company’s Constitution The following table outlines the Directors’ fees structure for financial year ended 31 August 2021:
Article 94 of the Company’s Constitution provides that one-third (1/3) of the Directors of the Company for the time being
shall retire by rotation at an Annual General Meeting (“AGM”) of the Company. All the Directors shall retire from office once Annual Fees (RM)
at least in each three (3) years but shall be eligible for re-election.
Board Executive Chairman 150,000
The Board of Directors (“Board”) through the Board Nomination and Remuneration Committee has conducted an Managing Director 130,000
assessment on all the Directors via the Board Effectiveness Evaluation 2021, facilitated by an independent expert, KPMG
Executive Director and Non-Executive Director 120,000
Management & Risk Consulting Sdn. Bhd. The Board is satisfied with the individual performance of the following retiring
Directors. The Board endorsed the Board Nomination and Remuneration Committee’s recommendation on the re-election Senior Independent Non-Executive Director 128,000
of the retiring Directors. Board Audit Committee 7,000
Board Risk Committee 7,000
The Board agreed to propose to the shareholders for re-election of the following retiring Directors, based on the following
justifications: Board Nomination and Remuneration Committee 4,000
Board Sustainability Committee 4,000
Director subject to re- Statement of Support by the Board
election pursuant to 4. Directors’ Benefits (excluding Directors’ Fees)
Article 94 The Directors’ benefits (excluding Directors’ fees) comprise the meeting allowances payable to the Non-Executive Directors.
Lim Hooi Sin 1. Having served Top Glove Group for more than 27 years, he is familiar with the Company’s The meeting allowances are fixed as follows:
business operations and continued to take a holistic approach in managing the business
operations of the Group. Type of Meeting Meeting Allowance per Meeting (RM)
2. His wealth of experience in sales and marketing enable him to assist the Company in overseeing Chairman Non-Executive Director/Member
the business operations of all overseas subsidiaries.
Board Nil 1,500
Dato’ Lee Kim Meow 1. Having served Top Glove Group for more than 24 years, his vast experience in the
General Nil 1,500
Company enables him to provide strategic advice to the Chairman and the Board.
He drives the strategic plans set by the Board. Board Committee 1,200 1,000
2. He is recognised for his valuable contribution in the rubber glove industry in Malaysia as well as
ASEAN region, which enable him to provide valuable insights during the Board’s strategic meeting. In determining the estimated total Directors’ benefits (excluding Directors’ fees) for the period commencing 7 January 2022
3. He had demonstrated active participation in the Boardroom and served as one of the main until the next AGM (“Relevant Period”), the size of the Board and Board Committees as well as the estimated number of
spokespersons for the Company, representing the Company well in the public. meetings scheduled to be held during the Relevant Period were taken into consideration. As there is no change to the fixed
Azrina Arshad 1. She has fulfilled the criteria of independence contained in the Corporate Governance Guide meeting allowance, the Board is recommending an estimated total amount of RM300,000 as per previous AGM.
issued by Bursa Securities. She remains objective and independent in expressing her view and
actively participating in the Board’s deliberations and decision-making process. Subject to the shareholders’ approval of Ordinary Resolutions 4 and 5, the payment for fees will be made to the Directors
2. Her previous experience in the fields of architectural are highly valued by the Company in after the AGM while Directors’ benefits will be made by the Company as and when incurred. The Board opined that the
advising the Company in its existing and future expansion plan. payments to the Directors are just and equitable taking into account their roles and responsibilities towards the Group and
3. She is regarded as valuable addition to the boardroom having showed her commitment in the the services that they have rendered to the Company.
sustainability development of the Company.
4. She is not involved in any potential conflict of interest that might adversely affect her ability to Directors who are also shareholders of the Company will abstain from voting on the resolution in respect of the fees and
perform her duties properly. benefits payable to him/her.

OTHER INFORMATION
NOTICE OF THE TWENTY THIRD ADMINISTRATIVE DETAILS FOR

ANNUAL GENERAL MEETING
23RD ANNUAL GENERAL MEETING
5. Re-appointment of Auditors In light of the recent COVID pandemic and as a precautionary measure, Top Glove Corporation Bhd (“Top Glove”) will conduct
The Board Audit Committee and the Board have considered the re-appointment of Messrs. Ernst & Young PLT as Auditors its 23rd Annual General Meeting (“AGM”) on a virtual basis by way of live streaming and online remote voting via Remote
of the Company, are satisfied with the performance, competency, audit approach and independence of Messrs. Ernst & Participation and Voting (“RPV”) facilities which are available on Securities Services ePortal, details as set out below:
Young PLT and viewed that they have met the relevant criteria prescribed by Paragraph 15.21 of Bursa Securities Main LR.
Day and Date : Thursday, 6 January 2022
The Board endorsed the Board Audit Committee’s recommendation to seek for shareholders’ approval to re-appoint
Time : 10:30 a.m.
Messrs. Ernst & Young PLT as external auditors of the Company until the conclusion of the next AGM and to authorise the
Broadcast Venue : TG Grand Ballroom
Directors to fix their remuneration.
Level 9, Top Glove Tower, 16, Persiaran Setia Dagang, Setia Alam,
6. Authority to Issue Shares pursuant to the Act Seksyen U13, 40170 Shah Alam, Selangor Darul Ehsan, Malaysia
The proposed adoption of Ordinary Resolution No. 1 is for the purpose of granting a renewed general mandate (“General (Members/Proxies/Corporate Representatives will not be allowed to be physically
Mandate”) and empowering the Directors of the Company, pursuant to the Act, to issue and allot new shares in the present at the Broadcast Venue)
Company from time to time provided that the aggregate number of shares issued pursuant to the General Mandate does Online Meeting Platform : Securities Services ePortal https://sshsb.net.my/
not exceed ten per centum (10%) of the total number of issued shares of the Company for the time being. The General Modes of Communication : 1. Typed text in the Online Meeting Platform
Mandate, unless revoked or varied by the Company in general meeting, will expire at the conclusion of the next AGM of the 2. Email your questions to topglovecosec@topglove.com.my prior to the AGM
Company.
The General Mandate will provide flexibility to the Company for allotment of shares for any possible fundraising activities, Remote Participation and Voting 5. Please note that no recording or photography of the
including but not limited to placement of shares for the purpose of funding future investment project(s), working capital
AGM proceedings is allowed and must ensure that you
and/or acquisition(s).
1. Only shareholders whose names appear on the General are connected to the internet at all times in order to
Meeting Record of Depositors as at 31 December 2021 participate and vote when the AGM has commenced.
As at the date of this Notice, there were no new shares issued pursuant to the mandate granted to the Directors at the
Twenty Second (“22nd”) AGM held on 6 January 2021 and which will lapse at the conclusion of the 23rd AGM. shall be eligible to participate in the AGM or appoint Therefore, it is your responsibility to ensure that
proxy(ies) or corporate representative(s) to participate connectivity for the duration of the AGM is maintained.
7. Proposed Renewal of Authority for Share Buy-Back and/or vote on his/her behalf.
The proposed adoption of Ordinary Resolution No. 2 is for the purpose of renewing the authority granted by the shareholders Appointment of Proxy
of the Company at the 22nd AGM held on 6 January 2021. The aforesaid proposed renewal will allow the Board to exercise 2. Since the AGM will be conducted virtually, shareholders/
the power of the Company to purchase not more than ten per centum (10%) of the total number of issued shares of the proxies/corporate representatives will not be allowed to 1. If a shareholder is unable to participate at the AGM via
Company at any time within the time period stipulated in Bursa Securities Main LR. be physically present at the Broadcast Venue. the RPV facilities, he/she may appoint not more than
two (2) proxies to participate, speak and vote on his/
Personal Data Privacy: 3. Shareholders who wish to participate at the AGM are her behalf. He/she may also appoint the Chairman of
By submitting an instrument appointing a proxy(ies) and/or representative(s) to participate and vote at the 23rd AGM and/or any
required to (i) register as a user of the Securities Services the Meeting as his/her proxy and indicate the voting
adjournment thereof, a member of the Company (i) consents to the collection, use and disclosure of the member’s personal data
ePortal no later than 12:30 p.m. on Wednesday, 5 January instructions in the proxy form.
by the Company (or its agents) for the purpose of the processing and administration by the Company (or its agents) of proxies
2022 AND (ii) register for the remote participation via
and representatives appointed for the 23rd AGM (including any adjournment thereof) and the preparation and compilation of
the attendance lists, minutes and other documents relating to the 23rd AGM (including any adjournment thereof), and in order https://sshsb.net.my/ no later than the ‘Questions and 2. If you wish to participate at the AGM yourself, please
for the Company (or its agents) to comply with any applicable laws, listing rules, regulations and/or guidelines (collectively, the Answer’ session or when the Chairman announces that do not submit any proxy form. A shareholder will not be
“Purposes”), (ii) warrants that where the member discloses the personal data of the member’s proxy(ies) and/or representative(s) the AGM registration is closed, whichever is the earlier. allowed to participate at the AGM if his/her proxy(ies)
to the Company (or its agents), the member has obtained the prior consent of such proxy(ies) and/or representative(s) for the Please refer to the Securities Services ePortal User has/have been appointed to participate at the AGM,
collection, use and disclosure by the Company (or its agents) of the personal data of such proxy(ies) and/or representative(s) Guide in Appendix I. unless he revokes the proxy appointment and registers
for the Purposes, and (iii) agrees that the member will indemnify the Company in respect of any penalties, liabilities, claims, for the AGM.
demands, losses and damages as a result of the member’s breach of warranty. 4. Securities Services ePortal allows individual and
body corporate shareholders, through their appointed 3. The appointment of proxy may be made in a hardcopy
STATEMENT ACCOMPANYING NOTICE OF AGM representatives to: form or by electronic means as follows:
As at the date of this Notice, there are no individuals who are standing for election as Directors (excluding the above Directors
(a) Submit proxy forms electronically;
who are standing for re-election) at this 23rd AGM.
(b) Register for RPV at meeting; In Hardcopy Form
(c) Attend and participate in the meeting via live The proxy form shall be deposited at the Share
streaming; and Registrar’s office, Securities Services (Holdings) Sdn.
(d) Vote online on resolutions tabled at meeting. Bhd. at Level 7, Menara Milenium, Jalan Damanlela,
Pusat Bandar Damansara, Damansara Heights, 50490
Kuala Lumpur, Wilayah Persekutuan, Malaysia, no later
than 10:30 a.m. on Tuesday, 4 January 2022.

OTHER INFORMATION
ADMINISTRATIVE DETAILS FOR ADMINISTRATIVE DETAILS FOR

23RD ANNUAL GENERAL MEETING 23RD ANNUAL GENERAL MEETING
By Electronic Means Door Gift Securities Services ePortal User Guide Appendix I
The proxy form shall be electronically lodged via 1. Shareholders/proxies who had (i) logged in to Securities
Securities Services ePortal’s platform at https:// Services ePortal on 6 January 2022 AND (ii) casted
Before the AGM
sshsb.net.my/ or by fax to +603 2094 9940 or by their vote during the AGM are entitled for a TGeBuy
email to eservices@sshsb.com.my no later than 10:30 AGM eVoucher (“AGM eVoucher”) worth RM80 when A) Sign up for a user at Securities Services ePortal
a.m. on Tuesday, 4 January 2022. Please refer to the purchasing Top Glove products via its online platform at
Securities Services ePortal User Guide in Appendix I. https://tgebuy.com/. Step 1: Notes:
2. An individual who is a shareholder or a proxy or a Visit https://sshsb.net.my/ to sign up a user account (registration 1. This is a ONE-TIME Registration. If you already have a user
4. Appointed proxies need not register for remote corporate representative is only entitled to ONE AGM is free). Please click on ‘SIGN UP’ to begin. You will be prompted account of Securities Services ePortal, you need not register
participation but are required to register as the users of eVoucher worth RM80. No additional AGM eVoucher to fill in your details and also to upload a copy of your MyKad again.
(front and back separately) or passport. 2. To register for the meeting under (B) below, please sign up
the Securities Services ePortal no later than 12:30 p.m. will be given in the event that a shareholder is also an
for a user account no later than 12.30 p.m. on Wednesday,
on Monday, 3 January 2022. appointed proxy(ies)/corporate representative(s).
Step 2: 5 January 2022.
3. Shipping fees will be waived if the purchase value is
A notification email will be sent to you within one (1) working day.
5. If you have submitted your proxy form and subsequently above RM120 (only applicable to addresses in Malaysia). Please verify your user account within seven (7) days of the notification
decide to appoint another person or wish to participate No self-collection of purchase is allowed. email (Note: Your registered email address is your User ID).
personally in the AGM, please write in to eservices@ 4. The AGM eVoucher code will be emailed to eligible
sshsb.com.my no later than 10:30 a.m. on Tuesday, shareholders/proxies/corporate representatives on MUST DO THIS STEP FOR SHAREHOLDER WHO WISHES
B) Registration for Remote Participation
TO PARTICIPATE AND VOTE AT OUR AGM
4 January 2022 to revoke the earlier appointed proxy. 9 January 2022 and the AGM eVoucher will remain
valid until 9 March 2022. The said eVoucher can only
Step 1: Notes:
For shareholders whose shares are traded on Singapore be redeemed once. Log on to https://sshsb.net.my/ with your registered User ID 1. All shareholders must register for remote participation at the
Exchange Securities Trading Limited, please refer to the (email address) and password. meeting and are highly encouraged to register as early as
instruction on the Voting Instruction Form A and Form B. Enquiries for AGM possible and before the AGM date and time in order to
Step 2: ensure timely access to the meeting. Access shall be granted
Submission of Questions 1. If you have any enquiry relating to the Securities Look for “Top Glove Corporation Bhd” under Company Name only to eligible shareholders in accordance with the General
1. Shareholders that wish to post questions to the Services ePortal or proxy appointment prior to the AGM, and “23rd AGM on 6 January 2022 at 10:30 a.m.: Registration Meeting Record of Depositors as at 31 December 2021.
Chairman/Board/Management can email their please contact our Poll Administrator during office for Remote Participation” under the Corporate Exercise/ Event 2. If you wish to participate remotely at the AGM, please
questions to topglovecosec@topglove.com.my no hours (Monday to Friday from 8:30 a.m. to 12:15 p.m. tab and Click “>”. register no later than the ‘Questions and Answer’ session or
later than 10:30 a.m. on Wednesday, 5 January 2022. and 1:15 p.m. to 5:30 p.m., excluding public holidays): when the Chairman announces that the meeting registration
Step 3: is closed, whichever is the earlier.
2. Shareholders may also submit their questions to
Select whether you are participating as 3. A copy of your eRegistration for remote participation can be
the Chairman/Board/Management via the real time Poll Administrator: SS E Solutions Sdn. Bhd.
(1) Individual Shareholder; or accessed via My Records.
submission of typed texts through a text box within Contact Person:
(2) Corporate or Authorised Representative of a body 4. Your registration will apply to all the CDS account(s) of each
Securities Services ePortal’s platform before the start or 1. Mr. Wong Piang Yoong : +603 2084 9168 corporate1, individual shareholder/body corporate shareholder that you
during the live streaming of the AGM. 2. Mr. Jerry Tan Hor Seng : +603 2084 9165 and Click “Submit”. represent. If you are both an individual shareholder and
3. The Chairman/Board/Management will endeavour to 3. Puan Nurhayati Ang : +603 2084 9162 representative of body corporate(s), you need to register as an
respond to relevant questions during the AGM or by 4. Ms. Lee Pei Yeng : +603 2084 9169 individual and also as a representative for each body corporate.
email after the AGM. 5. Ms. Rachel Ou : +603 2084 9161 5. As the meeting will be conducted on a virtual basis and only
6. Ms. Evangeline Yeoh : +603 2084 9007 the Chairman and other essential individuals will be present
Poll Voting Email: eservices@sshsb.com.my at the broadcast venue, we highly encourage all shareholders
1. The voting at the AGM will be conducted by poll in to remotely participate and vote at the meeting, failing which,
accordance with Paragraph 8.29A of the Main Market 2. If you have any enquiry relating to the AGM you may appoint the Chairman of the meeting as proxy or
your own proxy(ies) to represent you.
Listing Requirements of Bursa Malaysia Securities Administrative Details prior to the AGM, please contact
Berhad. The poll will be conducted by way of Top Glove Corporate Services Department during office
For shareholder whose shares are traded on Singapore
electronic voting. Poll Administrators and Independent hours (Monday to Friday from 8:30 a.m. to 6:00 p.m.,
Exchange Securities Trading Limited, please also refer to the
Scrutineers will be appointed to conduct the polling excluding public holidays): instructions on the Voting Instruction Form (Form A or Form B). The
process and verify the results of the poll, respectively. remote access user ID and password will be emailed to you once
2. Access to eVoting will be opened from the Company : Top Glove Corporation Bhd your eRegistration for remote participation has been approved.
commencement of the AGM until the end of the voting Contact Person : 1. Kassy Lim Keat See
session which will be announced by the Chairman of 2. Sarah Heng Kawai
the AGM. Please refer to the Securities Services ePortal Contact No. : +6016 737 7113
User Guide in Appendix I. Email : topglovecosec@topglove.com.my

OTHER INFORMATION
ADMINISTRATIVE DETAILS FOR ADMINISTRATIVE DETAILS FOR

23RD ANNUAL GENERAL MEETING 23RD ANNUAL GENERAL MEETING
Appendix I Appendix I
C) Submission of eProxy Form PLEASE DO NOT SUBMIT PROXY FORM IF YOU B) Remote Online Voting during the AGM
ARE REGISTERING TO PARTICIPATE IN THE MEETING
Step 1: Notes:
Step 1: Notes: If you are logged on to the ePortal and already accessing the Live 1. Access to eVoting will be opened on the aforementioned date
Log on to https://sshsb.net.my/ with your registered User ID 1. Please submit your proxy form no later than 10:30 a.m. on Stream Meeting, click on “Proceed to Vote” displayed below the and time.
(email address) and password. Tuesday, 4 January 2022 if you wish to appoint proxy(ies) to Live Stream player to begin voting on the resolutions. 2. Your votes casted will apply throughout ALL the CDS
participate on behalf. accounts you represent as an individual shareholder,
Step 2: 2. A copy of your submitted eProxy Form can be accessed via OR corporate/ authorised representative and proxy.
Look for “Top Glove Corporation Bhd” under Company Name My Records. 3. Where you are attending as a proxy, and the shareholder who
and “23rd AGM on 6 January 2022 at 10:30 a.m.: Submission 3. You need to submit your eProxy Form for every CDS If you are not logged on yet, log on to https://sshsb.net.my/ appointed you has indicated how the votes are to be casted,
of Proxy Form” under Corporate Exercise/Event and Click “>”. account(s) you have or represent. with your registered User ID (email address) and password. we will take the shareholder’s indicated votes in the proxy
form.
4. Appointed proxies need not register for remote
Look for “Top Glove Corporation Bhd” under Company Name 4. Access to eVoting will be closed as directed by the Chairman.
Step 3: participation under (B) above but if they are not
and “23rd AGM on 6 January 2022 at 10:30 a.m.: Remote A copy of your submitted eVoting can be accessed via My
Select whether you are submitting the proxy form as registered users of the ePortal, they will need to sign up Voting” under the Corporate Exercise/Event and click “>” to Records.
(1) Individual Shareholder; or a user account under (A) above no later than 12:30 p.m. remotely cast and submit your votes online for the resolutions
(2) Corporate or Authorised Representative of a body corporate1 on Monday, 3 January 2022. tabled at the AGM.
5. Upon processing the proxy forms, remote participation
Step 4: access will be granted automatically to the proxy(ies) Step 2:
Enter your CDS account number or the body corporate’s CDS instead of the shareholder, provided the proxy(ies) must be a Cast your votes by clicking on the radio buttons against each
account number. registered user of the ePortal, failing which, the proxy will not resolution, acknowledge the Terms and Conditions of use and
be able to participate at the AGM. Privacy Policy, review your casted votes and submit the votes.
Step 5: 6. Upon verification by the Poll Administrator with
Step 3:
Enter the information of your proxy(ies) and the proportion of the General Meeting Record of Depositors as at
Upon casting your votes, you will be redirected back to the Live
securities (in %) to be represented by your proxy(ies). 31 December 2021, you will receive an email advising you if
Stream. The message “Voted” will be displayed below the Live
you or your proxy is eligible to participate at the AGM. Stream.
Step 6:
Proceed to indicate how your votes are to be casted against For shareholder whose shares are traded on Singapore C) End of Remote Participation
each resolution. Exchange Securities Trading Limited, please also
refer to the instructions on the Voting Instruction Form The live streaming will end upon the announcement by the Chairman on the closure of the AGM.
Step 7: (Form A or Form B).
Review and confirm your proxy form details before submission.
For body corporates, the appointed Corporate/Authorised Representative must upload the evidence of authority (e.g.
1
On the AGM Day (Thursday, 6 January 2022 @ 10:30 a.m.)

Certificate of Appointment of Corporate Representative, Power of Attorney, letter of authority or other documents proving
authority). Any document that are not in English or Bahasa Malaysia must be accompanied by a certified translation in
A) Joining the Live Stream Meeting English in one (1) file. The original evidence of authority and translation thereof, if required, have to be submitted to the Share
Registrar’s office, Securities Services (Holdings) Sdn. Bhd. at Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar
Step 1: Notes: Damansara, Damansara Heights, 50490 Kuala Lumpur, Malaysia for verification before the registration closing date and time.
Log on to https://sshsb.net.my/ with your registered User ID 1. You can start to log in 1 hour before the commencement of
(email address) and password. the AGM.
2. If you have any questions that you wish to raise, please use
Step 2: the text box to submit your question. The Chairman/Board
Look for “Top Glove Corporation Bhd” under Company Name will endeavour to respond to your question during the AGM.
and “23rd AGM on 6 January 2022 at 10:30 a.m.: Live Stream 3. Quality of the live streaming is dependent on the stability of
Meeting” under the Corporate Exercise/Event and click “>” to the internet connection at the location of the user.
join the AGM.

PROXY FORM
* I/We, Email:
NRIC/Passport/Registration No.: Tel:
CDS Account No.: Number of Shares Held:
Address:
being a member of TOP GLOVE CORPORATION BHD [Registration No.: 199801018294 (474423-X)] hereby appoint:
1) Name of Proxy: NRIC/Passport No.:
Address:
Email: Tel: Percentage of Shares Represented: %
2) Name of Proxy: NRIC/Passport No.:
Address:
Email: Tel: Percentage of Shares Represented: %
or failing him/her, the CHAIRMAN OF THE MEETING as my/our proxy to vote for me/us, and on my/our behalf at the Twenty Third Annual General
Meeting (“AGM”) of the Company to be held virtually at the Broadcast Venue at TG Grand Ballroom, Level 9, Top Glove Tower, 16, Persiaran Setia
Dagang, Setia Alam, Seksyen U13, 40170 Shah Alam, Selangor Darul Ehsan, Malaysia on Thursday, 6 January 2022 at 10:30 a.m.
Please indicate with “X” how you wish your vote to be casted. In the absence of specific instruction, your proxy will vote or abstain from voting at
his/her discretion.
NO. RESOLUTIONS FOR AGAINST

ORDINARY BUSINESS
1. To re-elect the Director, Lim Hooi Sin.
2. To re-elect the Director, Dato’ Lee Kim Meow.
3. To re-elect the Director, Azrina Arshad.
4. To approve the payment of Directors’ fees.
5. To approve the payment of Directors’ benefits (excluding Directors’ fees).
6. To re-appoint Messrs. Ernst & Young PLT as Auditors of the Company.
SPECIAL BUSINESS
7. Authority to issue shares pursuant to the Companies Act 2016.
8. Proposed Renewal of Share Buy-Back Authority.
Signed on this day of 2021/2022

Signature of Member / Common Seal
Notes:
1. The AGM will be conducted virtually through live streaming and online remote 5. Where a holder appoints more than one (1) proxy, the appointment shall be invalid
voting via the Remote Participation and Voting (“RPV”) facilities to be provided unless he/she specifies the proportion of his/her shareholdings to be represented
by SS E Solutions Sdn. Bhd. via Securities Services ePortal’s platform at by each proxy.
https://sshsb.net.my/. Please follow the procedures provided in the 6. The instrument appointing a proxy or representative and the duly registered
Administrative Details for the AGM in order to register, participate and vote power of attorney or other authority, if any, shall be in writing under the hand of
remotely via the RPV facilities. the appointor or his/her attorney duly appointed under a Power of Attorney or,
2. The Broadcast Venue is strictly for the purpose of complying with Section 327(2) if such appointor is a corporation, either under its seal or under the hand of an
of the Companies Act 2016 and Article 64A of the Company’s Constitution which officer or attorney duly appointed under a Power of Attorney.
require the Chairman of the Meeting to be present at the main venue of the 7. Where a member of the Company is an exempt authorised nominee which holds
Meeting. Members/proxies/corporate representatives will not be allowed to be ordinary shares in the Company for multiple beneficial owners in one (1) securities
physically present at the Broadcast Venue. account (“Omnibus Account”), there is no limit to the number of proxies which the
3. In respect of deposited securities, only members whose names appear in the exempt authorised nominee may appoint in respect of each Omnibus Account it holds.
Record of Depositors on 31 December 2021 (General Meeting Record of 8. The instrument appointing a proxy may be made via hardcopy or by electronic
Depositors) shall be eligible to participate in the AGM. means in the following manner and must be received by the Company not less
4. A member of the Company entitled to participate and vote at the AGM is entitled than forty-eight (48) hours before the time appointed for holding the AGM or at
to appoint not more than two (2) proxies to participate, speak and vote in his/her any adjournment thereof:
stead. A proxy may but need not be a member of the Company and a member (i) In Hardcopy Form
may appoint any person to be his/her proxy. There shall be no restriction as to the The proxy form shall be deposited at the Share Registrar’s office, Securities
qualification of the proxy. A proxy appointed by the member shall have the same Services (Holdings) Sdn. Bhd. at Level 7, Menara Milenium, Jalan Damanlela,
rights as the member to participate, speak and vote at the AGM. The members Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur,
or their proxies or their corporate representatives may submit questions to the Wilayah Persekutuan, Malaysia.
Company at topglovecosec@topglove.com.my prior to the AGM or via real time (ii) By Electronic Means
submission of typed texts through a text box within Securities Services ePortal’s The proxy form shall be electronically lodged via Securities Services ePortal’s
platform during live streaming of the AGM as the primary mode of communication. platform at https://sshsb.net.my/ or by fax to +603 2094 9940 or by email
In the event of any technical glitch in the primary mode of communication, to eservices@sshsb.com.my.
shareholders, proxies and corporate representatives may email their questions to
eservices@sshsb.com.my during the AGM.
OTHER INFORMATION
3. Fold this flap for sealing GRI CONTENT INDEX
GRI
Standards Disclosure Item Section of Disclosure Page
GRI 102: GENERAL DISCLOSURES
1. Organizational profile
102-1 Name of the organization Front Cover Front cover
102-2 Activities, brands, products, and services Letter to Stakeholders And Management 48 to 57
Discussion & Analysis
102-3 Location of headquarters Our Corporate Directory 12
102-4 Location of operations Our Corporate Directory 12 to 13
102-5 Ownership and legal form Corporate Structure 8 to 9
2. Then, fold here
102-6 Markets served Our Export Markets 5
102-7 Scale of the organization Back Cover Back cover
102-8 Information on employees and other workers Diversity & Inclusion 123
102-9 Supply chain Supply Chain Management 129 to 130
STAMP 102-10 Significant changes to the organization and Scope and Boundary Of Reporting 2
its supply chain
102-11 Precautionary Principle or approach Managing Our Risks And Opportunities 82 to 85
TOP GLOVE CORPORATION BHD
102-12 External initiatives The Legislation And Frameworks That 2
[Registration No.: 199801018294 (474423-X)]
Inform Our Reporting
c/o: Securities Services (Holdings) Sdn. Bhd.
102-13 Membership of associations Environmental Compliance 96
Level 7, Menara Milenium
2. Strategy
Jalan Damanlela, Pusat Bandar Damansara
102-14 Statement from senior decision-maker In Conversation With The Executive 32 to 37
Damansara Heights Chairman, Tan Sri Dr Lim Wee Chai
50490 Kuala Lumpur, 102-15 Key impacts, risks and opportunities Managing Our Risks And Opportunities 82 to 85
Wilayah Persekutuan, 3. Ethics and integrity
Malaysia 102-16 Values, principles, standards, and norms Our Guiding Principles 6
of behaviour
102-17 Mechanisms for advice and concerns about Whistleblowing Channels, Grievance 112 to 113
ethics Mechanism
Whistleblowing 139
4. Governance
102-18 Governance structure Corporate Governance Framework 143
1. Fold here
102-19 Delegating authority Board Sustainability Committee Report 154 to 155
102-20 Executive-level responsibility for economic, Board Sustainability Committee Report 154 to 155
environmental, and social topics
102-21 Consulting stakeholders on economic, Stakeholder Engagement, Materiality 92 to 94
environmental, and social topics Assessment: A Sharper Focus on ESG
102-22 Composition of the highest governance body Board of Directors 15 to 28
and its committees
102-23 Chair of the highest governance body Board of Directors 16
102-24 Nominating and selecting the highest Board Appointment and Succession 147 to 148
governance body Planning
102-25 Conflicts of interest Board of Directors’ Note 27
Executive Committee’s Note 29
102-26 Role of highest governance body in setting Board Sustainability Committee Report 154 to 155
purpose, values, and strategy
I N TEG RAT E D A NNUA L RE P O RT 2 0 2 1 325

OTHER INFORMATION
GRI CONTENT INDEX GRI CONTENT INDEX
GRI GRI
Standards Disclosure Item Section of Disclosure Page Standards Disclosure Item Section of Disclosure Page
102-27 Collective knowledge of highest governance An Empowered Board 28 103 Management Approach
body 103-1 Explanation of the material topic and its Explanation, management approach and 93 to 139
102-28 Evaluating the highest governance body’s Board Effectiveness Evaluation 149 to 151 Boundary progress of each material issue under
performance Environmental, Social & Governance pillars
102-29 Identifying and managing economic, Board Sustainability Committee Report 154 to 155 are articulated throughout the “Creating
environmental, and social impacts Sustainable Value” section
Stakeholder Engagement, Materiality 92 to 94
Assessment: A Sharper Focus on ESG 103-2 The management approach and its Explanation, management approach and 93 to 139
components progress of each material issue under
102-30 Effectiveness of risk management processes Statement On Risk Management And 172 to 175
Environmental, Social & Governance pillars
Internal Control
are articulated throughout the “Creating
102-31 Review of economic, environmental, Board Sustainability Committee Report 154 to 155 Sustainable Value” section
and social topics
103-3 Evaluation of the management approach Explanation, management approach and 93 to 139
102-32 Highest governance body’s role in Board Sustainability Committee Report 154 to 155 progress of each material issue under
sustainability reporting Environmental, Social & Governance pillars
102-33 Communicating critical concerns Board Sustainability Committee Report 154 to 155 are articulated throughout the “Creating
102-34 Nature and total number of critical concerns Human Rights & Labour Management 109 to 116 Sustainable Value” section
Relations 201 Economic performance
102-35 Remuneration policies Board And Senior Management 149 201-1 Direct economic value generated and 2021 Key Highlights Inner Front Cover
Remuneration distributed &1
102-36 Process for determining remuneration Board And Senior Management 149 201-2 Financial implications and other risks and Physical Impacts On Climate Change 104
Remuneration opportunities due to climate change
102-37 Stakeholders’ involvement in remuneration Notice Of The Twenty Third AGM 311 202 Market presence
5. Stakeholder engagement 2. Topic-specific disclosures:
102-40 List of stakeholder groups Stakeholder Engagement 92 202-1 Ratios of standard entry level wage by Diversity & Inclusion 123 to 124
102-41 Collective bargaining agreements Engagement With Workers 116 gender compared to local minimum wage
102-42 Identifying and selecting stakeholders Stakeholder Engagement 92 201-2 Proportion of senior management hired Diversity & Inclusion 123 to 124
from the local community
102-43 Approach to stakeholder engagement How Our Stakeholders Are Connected 166 to 169
203 Indirect economic impacts
102-44 Key topics and concerns raised How Our Stakeholders Are Connected 166 to 169
203-1 Infrastructure investments and services Promoting Wellness 119
6. Reporting practice
supported Managing Flood Risk 104
102-45 Entities included in the consolidated Investment In Subsidiaries 240
financial statements 203-2 Significant indirect economic impacts Promoting Wellness 119
102-46 Defining report content and topic Boundaries Scope and Boundary Of Reporting 2 Managing Flood Risk 104
102-47 List of material topics Materiality Assessment: A Sharper Focus 92 to 94 204 Procurement practices
on ESG 204-1 Proportion of spending on local suppliers Supply Chain Management 129
102-49 Changes in reporting Scope and Boundary Of Reporting 2 205 Anti-corruption
102-50 Reporting period Front Cover Front cover 205-1 Operations assessed for risks related to Corporate Integrity 137
102-51 Date of most recent report Front Cover Front cover corruption
102-52 Reporting cycle Front Cover Front cover 205-2 Communication and training about Corporate Integrity 137
anti-corruption policies and procedures
102-53 Contact point for questions regarding Corporate Governance Overview Statement 165
the report 205-3 Confirmed incidents of corruption and Corporate Integrity 138
actions taken
102-54 Claims of reporting in accordance with the The Legislation And Frameworks That 2
GRI Standards Inform Our Reporting 206 Anti-competitive behaviour
102-55 GRI content index GRI Content Index 325 to 330 206-1 Legal actions for anti-competitive behaviour, Customer Experience 130
anti-trust, and monopoly practices
102-56 External assurance Independent External Assurance 331 to 334
Statement

OTHER INFORMATION
GRI CONTENT INDEX GRI CONTENT INDEX
GRI GRI
Standards Disclosure Item Section of Disclosure Page Standards Disclosure Item Section of Disclosure Page
301 Materials 403 Occupational health and safety
301-1 Materials used by weight or volume Raw Material Consumption 105 403-1 Occupational health and safety management Occupational Health & Safety 117 to 121
301-2 Recycled input materials used Reusing, Recycling And Upcycling Waste 106 system
301-3 Reclaimed products and their packaging Reusing, Recycling And Upcycling Waste 106 403-2 Hazard identification, risk assessment, Occupational Health & Safety 117 to 121
materials and incident investigation
302 Energy 403-3 Occupational health services Occupational Health & Safety 117 to 121
302-1 Energy consumption within the organization Energy Consumption 102 to 103 403-4 Worker participation, consultation, and Occupational Health & Safety 117 to 121
communication on occupational health
302-3 Energy intensity Energy Consumption 102 to 103
and safety
302-4 Reduction of energy consumption Natural Gas 103
403-5 Worker training on occupational health Occupational Health & Safety 117 to 121
302-5 Reductions in energy requirements of Natural Gas 103 and safety
products and services
403-6 Promotion of worker health Occupational Health & Safety 117 to 121
303 Water
403-7 Prevention and mitigation of occupational Occupational Health & Safety 117 to 121
303-1 Water withdrawal by source Water Management 100 to 101 health and safety impacts directly linked by
303-3 Water recycled and reused Water Management 100 to 101 business relationships
305 Emissions 403-8 Workers covered by an occupational health Occupational Health & Safety 117 to 121
305-1 Direct (Scope 1) GHG emissions Physical Impacts On Climate Change 104 and safety management system
305-2 Energy indirect (Scope 2) GHG emissions Physical Impacts On Climate Change 104 403-9 Work-related injuries Occupational Health & Safety 117 to 121
305-3 Other indirect (Scope 3) GHG emissions Physical Impacts On Climate Change 104 404 Training and education
305-4 GHG emissions intensity Physical Impacts On Climate Change 104 404-1 Average hours of training per year Talent Development 126 to 127
per employee
305-5 Reduction of GHG emissions Physical Impacts On Climate Change 104
404-2 Programs for upgrading employee skills Talent Development 126 to 127
306 Waste
and transition assistance programs
306-1 Waste generation and significant Waste & Effluent 98 to 99
404-3 Percentage of employees receiving regular Talent Development 126 to 127
waste-related impacts
performance and career development reviews
306-2 Management of significant waste-related Waste & Effluent 98 to 99
405 Diversity and equal opportunity
impacts
405-1 Diversity of governance bodies and Gender Diversity 124
306-3 Waste generated Waste & Effluent 98 to 99
employees
306-4 Waste diverted from disposal Waste & Effluent 98 to 99
405-2 Ratio of basic salary and remuneration Gender Diversity 124
306-5 Waste directed to disposal Waste & Effluent 98 to 99 of women to men
307 Environmental compliance 406 Non-discrimination
307-1 Non-compliance with environmental laws Environmental Compliance 97 406-1 Incidents of discrimination and corrective Prevention of Harassment & Bullying 125
and regulations actions taken
308 Supplier environmental assessment 407 Freedom of association and collective bargaining
308-1 New suppliers that were screened using Supply Chain Management 97 407-1 Operations and suppliers in which the right Engagement With Workers 116
environmental criteria to freedom of association and collective
308-2 Negative environmental impacts in the Supply Chain Management 97 bargaining may be at risk
supply chain and actions taken 408 Child labor
401 Employment 408-1 Operations and supplier at significant risk Our Policy On Human Rights Practices 111
401-1 New employee hires and employee turnover Diversity & Inclusion 125 to 126 for incidents of child labor
401-2 Benefits provided to full-time employees that Promoting Wellness (Family Friendly 121 409 Forced or compulsory labor
are not provided to temporary or part-time Policies) 409-1 Operations and suppliers at significant risk Human Rights & Labour Management 109 to 116
employees for incidents of forced or compulsory labor Relations
401-3 Parental leave Parental Leave 121
402 Labor/ management relations
402-1 Minimum notice period regarding Engagement With Workers 116
operational changes

OTHER INFORMATION
GRI CONTENT INDEX
GRI
Standards Disclosure Item Section of Disclosure Page
410 Security practices
410-1 Security personnel trained in human rights Security Management 131
policies or procedures
412 Human rights assessment
412-1 Operations that have been subject to human Human Rights Risk Assessment/ 112
rights reviews or impact assessments Due Diligence & Audits
412-2 Employee training on human rights policies Enhanced Human Rights Training 116
or procedures And Awareness
412-3 Significant investment agreements and Enhancement Of Policies & Procedures 112
contracts that include human rights clauses
or that underwent human rights screening
413 Local communities
413-1 Operations with local community Local Community 131 to 133
engagement, impact assessments,
and development programs
413-2 Operations with significant actual and Local Community 131 to 133
potential negative impacts on local
communities
414 Supplier social assessment
414-1 New suppliers that were screened using Supplier Assessment 130
social criteria
414-2 Negative social impacts in the supply chain Communicate With Supply Chain Via 116
and actions taken Town Hall Sessions
415 Public policy
415-1 Political contributions Anti-corruption And Anti-bribery Data 138
416 Customer health and safety
416-2 Incidents of non-compliance concerning Product Quality & Safety 128
the health and safety impacts of products
and services
417 Marketing and labeling
417-1 Requirements for product and service Product Quality & Safety 128
information and labeling
product and service information and labeling
marketing communications
418 Customer privacy
418-1 Substantiated complaints concerning Cyber Security & Data Privacy 136
breaches of customer privacy and losses
of customer data
330 TOP G L O V E C O R P ORAT ION BHD

CORPORATE SONG
ENGLISH BAHASA MALAYSIA
All over the world, We are known, Dari mulanya, hingga terkini,
For our superior quality gloves, Nama Top Glove diberi,
Through the years we have grown, Pengeluar sarung tangan yang berkualiti,
We have shown, Yakinlah hasil pengeluaran kami,
Our gloves stand out superior in the world, Yang bermutu dan berkualiti tinggi,
Top Glove is the best, Better than the rest, Sentiasa menuju kejayaan,
Quality, Reliability and Consistency, Untuk mencapai keunggulan.
Remain our policy,
At Top Glove’s Group of Companies.
MANDARIN THAI
I N TEG RAT E D A NNUA L RE P O RT 2 0 2 1 335

INTEGRATED
ANNUAL
REPORT
Exports to 2021
195 Countries
FINANCIAL YEAR ENDED
31 AUGUST 2021
Worldwide
EUROPE
NORTH AMERICA
ASIA
AFRICA
MALAYSIA
LATIN AMERICA
OCEANIA
50 810 22,000 100 Billion

FACTORIES PRODUCTION LINES EMPLOYEES GLOVES PER ANNUM
TOP GLOVE CORPORATION BHD

Registration No.: 199801018294 (474423-X)
Level 21, Top Glove Tower, 16, Persiaran Setia Dagang, Setia Alam, Seksyen U13,
40170 Shah Alam, Selangor Darul Ehsan, Malaysia.
SCAN FOR TG
Tel : +603 3362 3098 Fax : +603 3362 3860 Mobile : +6012 2896 270 WEBSITE
Email : sales@topglove.com.my / invest@topglove.com.my / tgfoundation@topglove.com.my
www.topglove.com

Top Glove Ar 2021

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Top Glove Ar 2021

Uploaded by

Copyright:

Available Formats

INTEGRATED

SCAN FOR TG SCAN FOR TG

Group 2021 2020 2019 2018** 2017** 2016** 0.18%

Turnover 16,361,443 7,237,427 4,801,139 4,220,742 3,409,176 2,888,515 2017 7.1

REVENUE EBITDA PROFIT BEFORE TAX PROFIT AFTER TAX

OUR Share Price Volume Traded

DIVIDEND PAYOUT 65.1

Special Dividend (sen) 11.8

Payout Ratio (%) 50 54 51 53 55 68

TOTAL DIVIDEND PAYMENT OF RM7.75 BILLION SINCE LISTING IN YEAR 2001

OUR BUSINESS OVERVIEW OUR EXPORT MARKETS

THE WORLD’S LARGEST THE WORLD IS OUR MARKET

4 TOP G L O V E C O R P ORAT ION BHD I N TEG RAT E D A NNUA L RE P O RT 2 0 2 1 5

OUR GUIDING PRINCIPLES OUR GLOBAL OFFICES

To Produce Consistently High Quality Gloves At Efficient Low Cost

BUSINESS PHILOSOPHIES QUALITY POLICY

2 We take care of the interest of our 2 Continuous improvement and innovation

1 Do not lose our shareholders’ money

5 Relationship 5 HEALTHY WELLS

BUSINESS ETHICS 2 Eat Well

1 Honesty 3 Work Well

2 Integrity 4 Exercise Well

3 Transparency 5 Sleep Well

BRAZIL THAILAND MALAYSIA SINGAPORE

6 TOP G L O V E C O R P ORAT ION BHD I N TEG RAT E D A NNUA L RE P O RT 2 0 2 1 7

CORPORATE STRUCTURE CORPORATE STRUCTURE

TOP GLOVE SDN BHD

8 TOP G L O V E C O R P ORAT ION BHD I N TEG RAT E D A NNUA L RE P O RT 2 0 2 1 9

NEW LEVELS OF EXCELLENCE

Asia Recruitment Awards 2020

10 TOP G L O V E C O R P ORAT ION BHD I N TEG RAT E D A NNUA L RE P O RT 2 0 2 1 11

OUR CORPORATE DIRECTORY OUR CORPORATE DIRECTORY

MALAYSIA OFFICES AND FACTORIES

SELANGOR FACTORY 19 FACTORY 31 KELANTAN KEDAH

12 TOP G L O V E C O R P ORAT ION BHD I N TEG RAT E D A NNUA L RE P O RT 2 0 2 1 13

CORPORATE INFORMATION BOARD OF DIRECTORS

REGISTERED & CORPORATE STOCK EXCHANGE LISTING AUDITORS

14 TOP G L O V E C O R P ORAT ION BHD I N TEG RAT E D A NNUA L RE P O RT 2 0 2 1 15

BOARD OF DIRECTORS BOARD OF DIRECTORS

TAN SRI DR LIM WEE CHAI DATO’ LEE KIM MEOW

Nationality Malaysian Nationality Malaysian

Age/Gender 63/Male Age/Gender 62/Male

Date of 4 September 2000 Date of

Length of Service 21 years Date of Re-designation

Date of Last Length of Service

Board Committee(s) Present Appointment(s): Board Committee(s) Present Appointment(s):

16 TOP G L O V E C O R P ORAT ION BHD I N TEG RAT E D A NNUA L RE P O RT 2 0 2 1 17

BOARD OF DIRECTORS BOARD OF DIRECTORS

DATO’ LIM HAN BOON TAN SRI RAINER ALTHOFF

Board Committee(s) Present Appointment(s): Board Committee(s) Present Appointment(s):

Meeting Attendance in FY2021: Meeting Attendance in FY2021:

18 TOP G L O V E C O R P ORAT ION BHD I N TEG RAT E D A NNUA L RE P O RT 2 0 2 1 19

BOARD OF DIRECTORS BOARD OF DIRECTORS

LIM HOOI SIN LIM CHEONG GUAN

Nationality Malaysian Nationality Malaysian

Age/Gender 59/Male Age/Gender 56/Male

Length of Service 21 years Length of Service 15 years

Date of Last Date of Last

Board Committee(s) Present Appointment(s): Board Committee(s) Present Appointment(s):

Meeting Attendance in FY2021: Meeting Attendance in FY2021:

20 TOP G L O V E C O R P ORAT ION BHD I N TEG RAT E D A NNUA L RE P O RT 2 0 2 1 21

BOARD OF DIRECTORS BOARD OF DIRECTORS

PUAN SRI TONG SIEW BEE DATUK NORIPAH KAMSO

Nationality Malaysian Nationality Malaysian

Group 2021 2020 2019 2018 2017 2016** 0.18%