RM3.6b loss not just Top Glove, group clarifies Miti statement

The RM3.6 billion figure touted by the International Trade and Industry Ministry (Miti) yesterday as losses suffered by Top Glove due to restrictions imposed by the US is erroneous.

According to the Malaysian Rubber Glove Manufacturers Association (Margma) - which supplied Miti with the figure - the number is calculated from estimated losses by several glovemakers due to withhold release orders (WRO) issued by the US.

It did not refer to the actual financial losses of a single company...