[BLOOMBERG]
Top Glove Corp. plans to buy land in Cambodia, Malaysia and Indonesia to develop rubber plantations to meet its own latex needs, it said in a statement today.
The company also expects demand for gloves to remain “robust” in the longer term, it said. Its profit drop in the fiscal fourth quarter was due to the higher latex cost and the weaker dollar against the ringgit, it said.
Top Glove said fiscal fourth-quarter net income fell to RM26.1 million from RM45 million a year earlier, according to a company statement today.
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