Malaysia Extends Virus Curbs on Top Glove Worker Dormitories

Malaysia will extend its movement control order on Top Glove Corp.’s worker dormitories in Klang by two weeks to Dec. 14 because of rising coronavirus cases there, according to Defense Minister Ismail Sabri Yaakob at a media briefing Monday.

The movement control at at the company’s dormitories started on Nov. 17 and was supposed to end Monday, but there are still many new positive cases via second screening, he said. The government has tested 5,805 workers and 3,406 are found positive for the virus, he added.

The government last week ordered Top Glove to close 28 of its factories in phases, after its facility in Klang, Selangor state recorded 1,067 Covid-19 cases, out of 1,884 new daily cases in Malaysia. The company has said it expects the outbreak at its facilities to end in two-to-four weeks.

The curbs have pared the meteoric rise in the shares of the world’s biggest rubber-glove producer. The stock tumbled 17% this month, the steepest drop since January 2016. It has surged 354% this year.

Malaysia on Monday recorded 1,212 coronavirus cases, with Selangor state reporting the highest number of infections with 402, followed by Sabah’s 326 cases, according to the Ministry of Health. There were three deaths, it said.

©2020 Bloomberg L.P.

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