World's Largest: Annual

ANNUAL
REPORT
2018
FINANCIAL YEAR ENDED
31 AUGUST 2018
Incorporated in Malaysia ( Company No. : 474423-X )

A Public Company Listed on the Main Market of Bursa Malaysia and Main Board of Singapore Exchange
The
World’s
Largest
Manufacturer
of Gloves
NORTH
AMERICA
THE WORLD IS OUR MARKET
EXPORTS TO
195
COUNTRIES
WORLDWIDE
LATIN
AMERICA
NORTH AMERICA 25. HAITI EUROPE 77. NORWAY

26. HONDURAS 78. POLAND
1. CANADA 27. JAMAICA 48. ALBANIA 79. PORTUGAL
2. USA 28. MARTINIQUE 49. ANDORRA 80. ROMANIA
29. MEXICO 50. AUSTRIA 81. RUSSIA
LATIN AMERICA 30. MONTSERRAT 51. BELGIUM 82. SAN MARINO
31. N ETHERLANDS 52. B OSNIA 83. SERBIA
3. ANGUILLA HERZEGOVINA
4. ANTIGUA AND ANTILLES 84. SLOVAKIA
32. NICARAGUA 53. BULGARIA 85. SLOVENIA
BARBUDA 54. CROATIA
5. ARGENTINA 33. PANAMA 86. SPAIN
34. PARAGUAY 55. CZECH REPUBLIC 87. SWEDEN
6. ARUBA 56. DENMARK
7. BAHAMAS 35. PERU 88. SWITZERLAND
36. PUERTO RICO 57. ESTONIA 89. UNITED KINGDOM
8. BARBADOS 58. FINLAND
9. BELIZE 37. S AINT BARTHELEMY
38. SAINT KITTS 59. FRANCE AFRICA
10. BOLIVIA 60. GERMANY
11. BRAZIL AND NEVIS
39. SAINT LUCIA 61. GREECE 90. ALGERIA
12. BRITISH VIRGIN 62. HUNGARY 91. ANGOLA
ISLANDS 40. SAINT MARTIN
41. SAINT VINCENT 63. ICELAND 92. BENIN
13. CAYMAN ISLANDS 64. IRELAND 93. BOTSWANA
14. CHILE AND GRENADINES
42. SURINAME 65. ITALY 94. BURKINA FASO
15. COLOMBIA 66. KOSOVO 95. BURUNDI
16. COSTA RICA 43. TRINIDAD &
TOBAGO 67. LATVIA 96. CAMEROON
17. DOMINICA 68. LIECHTENSTEIN 97. CAPE VERDE
18. D OMINICAN 44. TURKS AND
CAICOS 69. LITHUANIA 98. CHAD
REPUBLIC 70. LUXEMBOURG 99. COMOROS
19. ECUADOR 45. U.S. VIRGIN
ISLANDS 71. MACEDONIA, FYR 100. REPUBLIC OF THE
20. EL SALVADOR 72. MALTA CONGO
21. GRENADA 46. URUGUAY
47. VENEZUELA 73. MOLDOVA 101. DJIBOUTI
22. GUADELOUPE 74. MONACO 102. EGYPT
23. GUATEMALA 75. MONTENEGRO 103. EQUATORIAL
24. GUYANA 76. NETHERLANDS GUINEA
EUROPE
ASIA
AFRICA MALAYSIA
OCEANIA
104. ETHIOPIA 134. UGANDA 162. NEPAL 89. NEW ZEALAND

1
105. ERITREA 135. ZAMBIA 163. OMAN 190. PALAU
106. GABON 164. PAKISTAN 191. PAPUA NEW
107. GAMBIA ASIA 165. PALESTINE GUINEA
108. GHANA 166. PHILIPPINES 192. SAMOA
109. GUINEA 136. AFGHANISTAN 167. QATAR 193. SOLOMON
110. GUINEA-BISSAU 137. ARMENIA 168. SAUDI ARABIA ISLANDS
111. KENYA 138. AZERBAIJAN 169. SINGAPORE 194. TONGA
112. LESOTHO 139. BAHRAIN 170. SOUTH KOREA 195. VANUATU
113. LIBERIA 140. BANGLADESH 171. SRI LANKA
114. MADAGASCAR 141. BHUTAN 172. TAIWAN
115. MALAWI 142. BRUNEI 173. TAJIKISTAN
116. MALI 143. CAMBODIA 174. THAILAND
117. MAURITANIA 144. CHINA 175. TURKEY
118. MAURITIUS 145. CYPRUS 176. TURKMENISTAN
119. MOROCCO 146. EAST TIMOR 177. UAE
120. MOZAMBIQUE 147. GEORGIA 178. UZBEKISTAN
121. NAMIBIA 148. HONG KONG 179. VIETNAM
122. NIGER 149. INDIA
123. NIGERIA 150. INDONESIA OCEANIA
124. RWANDA 151. ISRAEL
125. SAO TOME AND 152. JAPAN 80. AMERICAN SAMOA
1
PRINCIPE 153. JORDAN 181. AUSTRALIA
126. SENEGAL 154. KAZAKHSTAN 182. FIJI
127. SEYCHELLES 155. KUWAIT 183. GUAM
128. SIERRA LEONE 156. KYRGYZSTAN 184. KIRIBATI
129. SOUTH AFRICA 157. LAOS 185. MARSHALL
130. SWAZILAND 158. MACAU ISLANDS
131. TANZANIA 159. MALAYSIA 186. MICRONESIA
132. TOGO 160. MALDIVES 187. NAURU
133. TUNISIA 161. MONGOLIA 188. NEW CALEDONIA
TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018 1

CORPORATE VISION AND MISSION
TAN SRI DR LIM WEE CHAI

Executive Chairman
Top Glove Corporation Bhd
VISION MISSION CORPORATE

We strive to be the To be a world class VALUES
world’s leading glove manufacturer
• Respect
manufacturer with by providing top
• Integrity
excellent quality glove quality products with
• Value
products and services excellent services
• Empowerment
that enrich and protect through continuous
• Relationship
human lives. improvement and
innovation.
QUALITY BUSINESS BUSINESS

POLICY RULES ETHICS
• Quality and productivity • Do not lose our • Honesty
are our business shareholders’ money • Integrity
• Continuous improvement • Do not lose our health • Transparency
and innovation are our
duties • Do not lose our temper
• Towards zero defects is • Do not lose our customers
our target
• Compliance with
customers’ and regulatory
requirements is our
responsibility
2 TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018

CONTENTS
PAGE PAGE PAGE
1 Export Markets 24 Enhancing 93 Directors’

2 Corporate Vision and Shareholders’ Value Responsibility
Statement
Mission 25 Letter to Stakeholders
3 Contents and Management 94 Financial Statements
Discussion & Analysis for the financial year
4 Corporate Structure (English, BM & Mandarin) ended 31 August 2018
7 International 48 Sustainability 187 List of Properties
Quality Awards and Statement
Certifications 201 Analysis of
60 Financial Calendar Shareholdings
8 Corporate Information
61 Top Glove Corporate 204 Notice of the
9 Board of Directors Song 20th Annual General
10 Profile of Directors Meeting
62 Corporate Governance
18 Senior Management Overview Statement 211 Administrative
Team Details for the
86 Statement on Risk
20th AGM
19 Profile of Key Senior Management and
Management Internal Control 213 Form of Proxy
22 Financial Highlights 89 Audit Committee 215 Media Highlights

Report 216 Corporate Directory
23 6-Year Financial Review
TOP GLOVE’S GLOBAL OFFICES
CHINA
USA GERMANY
THAILAND
INDONESIA
MALAYSIA
BRAZIL
SINGAPORE

CORPORATE STRUCTURE
100%
FLEXITECH SDN BHD
(Malaysia)
100%
TOP GLOVE
SDN BHD 70% TG FMT SDN BHD
(Malaysia) (Malaysia)
100%
TG PORCELAIN SDN BHD
100%
EASTERN (Malaysia)
PRESS SDN
BHD (Malaysia) 75% T
GGD MEDICAL CLINIC
SDN BHD (Malaysia)
100%
GMP MEDICARE 100% T
OP GLOVE CHEMICALS
SDN BHD SDN BHD (Malaysia)
(Malaysia)
100%
TOP GLOVE INTERNATIONAL
SDN BHD (Malaysia)
100%
GREAT GLOVE
SDN BHD 100%
TOP GLOVE PROPERTIES
(Malaysia) SDN BHD (Malaysia)
27% VALUE ADD SDN BHD

100%
TG MEDICAL (Malaysia)
(U.S.A.), INC
(USA) 100%
MEDI-FLEX PTE LTD
(Singapore)
100%
TOP GLOVE 97.5% TOP GLOVE EUROPE GMBH
ENGINEERING (Germany)
SDN BHD
TOP GLOVE (Malaysia) 100%
GREAT GLOVE (XINGHUA)
CORPORATION CO LTD (China)
BHD 100%
TOP GLOVE
(Malaysia) 100%
TG MEDICAL SUZHOU CO LTD
GLOBAL (China)
(Listed on the Main Market SDN BHD
of Bursa Malaysia & (Malaysia) 100%
BESTSTAR ENTERPRISE
Main Board of LTD (BVI)
Singapore Exchange)
100%
TOP GLOVE 100%
B TECH INDUSTRY CO LTD
LABUAN LTD (Thailand)
(Labuan)
74%
GREAT GLOVE (THAILAND)
CO LTD (Thailand)
100%
TOP QUALITY
GLOVE SDN 100%
TOP GLOVE MEDICAL
BHD (Malaysia) (THAILAND) CO LTD (Thailand)
100%
TOP GLOVE TECHNOLOGY
TOP GLOVE (THAILAND) CO LTD (Thailand)
FOUNDATION*
(Malaysia) 100%
TOP QUALITY GLOVES
(THAILAND) CO LTD (Thailand)
100%
TOP FEEL 85% D
URAMEDICAL SDN BHD
SDN BHD (Malaysia)
(Malaysia)
100%
TG MEDICAL 100%
TOP HEALTHY FITNESS
SDN BHD SDN BHD (Malaysia)
(Malaysia)
100%
TOP CARE 100%
ASPION SDN BHD
SDN BHD (Malaysia)
(Malaysia)
100%
BEST ADVANCE RESOURCES
LIMITED (Labuan)
100%
GREEN RESOURCES LIMITED
(Labuan)

100%
TG MEDICAL (PUTIAN)
CO LTD (China)
100%
TG MEDICAL (XINGHUA)
CO LTD (China)
100% ADVENTA HEALTH 100%

SDN BHD (Malaysia) BEIJING ADVENTA HEALTH
SUPPLIES CO LTD (China)
100%
CYTOTEC (M) SDN BHD
(Malaysia)
100%
SENTIENX SDN BHD
(Malaysia)
100%
SUIZZE HEALTH LTD 100%
(Hong Kong) KEVENOLL DO BRASIL
(Brazil)
100%
TERANG NUSA SDN BHD
(Malaysia)
100%
ULMA INTERNATIONAL
GMBH (Germany)
100%
TERANG NUSA (MALAYSIA)
SDN BHD (Malaysia)
2%
95.2% PURNABINA SDN BHD
(Malaysia)
Notes:
99.9% 1. Top Glove has in total 51
PT. TOPGLOVE companies within the group.
95%
INDONESIA (Indonesia) T. AGRO PRATAMA
P 2. * Top Glove Foundation is a
0.1% member of Top Glove Group.
SEJAHTERA (Indonesia)

AIMING HIGH
At 27 years of age, Top Glove is a vibrant and dynamic
company, with ambitious goals of becoming a Bursa
Malaysia Top 20 company by 2020 and Fortune Global
500 company by 2040.
Our dreams may be big, but our resolve is strong. We

believe that as we strategically expand our operations
and penetrate new markets, we will be well able to
achieve all we aspire to.
INTERNATIONAL QUALITY AWARDS
AND CERTIFICATIONS
NEW LEVELS OF EXCELLENCE

2018
Nanyang Superb Brand Award 2018
International Iconic Brand 2018 (Category: Glove Innovation)
by The BrandLaureate Awards by Nanyang Siang Pau
MSWG - Asean Corporate Governance Award 2017

Winner of Malaysia’s Best Companies to (Categories: Merit Award for Most Improved
Work For in Asia 2018 Corporate Governance Disclosure & Industry
by HR Asia Excellence for Manufacturing)
by MSWG
Most Innovative Award 2018
Export Excellence Award 2018
FTSE4Good Bursa
by Malaysian Rubber Export Promotion
Malaysia Index
Council (MREPC)
Winner of Malaysia’s Best The Edge Billion Ringgit Club 2017

Companies to Work For in Highest growth in profit after Winner: Healthiest Employees
Asia 2017 tax over three years (Silver) by AIA Vitality 2017
by HR Asia by The Edge
GRC Wickham Awards 2017 Gold Recipient- Large MCBC Business Excellence
Technology Commercialization Catagory 2017 Awards 2017
Award FMM Excellence Award 2017 (Category: World Market Leader)
by Global Rubber Conference by Federation of Malaysia by Malaysia Canada Business
(GRC) Manufacturers Council
Asia Pacific Entrepreneurship Malaysian Fujian Exemplary Winner: Manufacturing -

Awards 2017 Leader Award 2017 Chemicals & Heavy Industries
Lifetime Achievement Award by The Federation of Hokkien by Malaysia’s 100 Leading Graduate
by Enterprise Asia Associations of Malaysia (FHAM) Employers 2017, GTI Media
MSWG - Asean Corporate

Governance Award 2016 Certificate of Excellence
(Categories: Merit Award for FTSE4Good Bursa Human Resource Development
Most Improved & Industry Malaysia Index Awards 2017
Excellence - Manufacturing) by HRDF Malaysia
by MSWG

CORPORATE INFORMATION
BOARD OF DIRECTORS
1. Tan Sri Dr Lim Wee Chai Executive Chairman
2. Tan Sri Dato’ Seri Utama Arshad Bin Ayub Senior Independent Non-Executive Director
3. Tan Sri Rainer Althoff Independent Non-Executive Director
4. Dato’ Lee Kim Meow Managing Director
5. Puan Sri Tong Siew Bee Executive Director
6. Lim Hooi Sin Executive Director
7. Lim Cheong Guan Executive Director
8. Dato’ Lim Han Boon Independent Non-Executive Director
9. Datuk Noripah Binti Kamso Independent Non-Executive Director
10. Sharmila Sekarajasekaran Independent Non-Executive Director
11. Tay Seong Chee, Simon Independent Non-Executive Director
12. Datuk Dr. Norma Mansor Independent Non-Executive Director
REGISTERED & CORPORATE OFFICE STOCK EXCHANGE LISTING AUDITORS
Level 21, Top Glove Tower, Main Market of Bursa Malaysia Ernst & Young
16, Persiaran Setia Dagang, Securities Berhad Chartered Accountants
Setia Alam, Seksyen U13, Stock Code : 7113 Level 23A, Menara Milenium,
40170 Shah Alam, Stock Name : TOPGLOV Jalan Damanlela,
Selangor D.E., Malaysia. Listing Date : 27 March 2001 Pusat Bandar Damansara,
Tel. : +603-3362 3098 50490 Kuala Lumpur, Malaysia.
Fax : +603-3362 3860 Main Board of Singapore Exchange
E-mails : Stock Code : BVA
(i) sales@topglove.com.my Stock Name : Top Glove PRINCIPAL BANKERS
(ii) invest@topglove.com.my Listing Date : 28 June 2016
(iii) whistleblower@topglove.com.my • Bank of Tokyo-Mitsubishi UFJ
(iv) media@topglove.com.my ADR Programme (Malaysia) Berhad
Website : www.topglove.com (Depository Receipt Programme) USA • BNP Paribas Malaysia Berhad
ADR Symbol : TGLVY • CIMB Bank Berhad
• Citibank Berhad
SENIOR INDEPENDENT • Deutsche Bank (Malaysia)
NON-EXECUTIVE DIRECTOR REGISTRAR IN MALAYSIA Berhad
• Hong Leong Bank Berhad
Tan Sri Dato’ Seri Utama Securities Services (Holdings) • HSBC Bank Malaysia Berhad
Arshad Bin Ayub Sdn Bhd • Industrial and Commercial
Tel. : +603-3362 3098 Level 7, Menara Milenium, Bank of China (Malaysia)
E-mail : Jalan Damanlela, Berhad
arshad.ayub@topglove.com.my Pusat Bandar Damansara, • Malayan Banking Berhad
Damansara Heights, • Mizuho Bank (Malaysia) Berhad
50490 Kuala Lumpur, Malaysia. • OCBC Bank (Malaysia) Berhad
CHARTERED SECRETARIES Tel. : +603-2084 9000 • Public Bank Berhad
Fax : +603-2094 9940/ • Siam Commercial Bank Public
Chua Siew Chuan +603-2095 0292 Company Limited
(MAICSA No.: 0777689) E-mail : info@sshsb.com.my • Standard Chartered Bank
Malaysia Berhad
Chin Mun Yee • Sumitomo Mitsui Banking
(MAICSA No.: 7019243) SHARE TRANSFER AGENT Corporation Malaysia Berhad
IN SINGAPORE • The Bank of Nova Scotia
Lim Keat See Berhad
(MAICSA No.: 7020290) Boardroom Corporate & Advisory • United Overseas Bank
Tel. : +603-3362 3098 Services Pte Ltd (Malaysia) Berhad
E-mail : kslim@topglove.com.my 50 Raffles Place,
#32-01 Singapore Land Tower,
Singapore 048623.
Tel. : +65-6536 5355
Fax : +65-6438 8710
Email :
SRS.TeamC@boardroomlimited.com

BOARD OF DIRECTORS
12 11 10 9 8 7 1 2 3 4 5 6
OUR BUSINESS DIRECTION IS:

TO PRODUCE CONSISTENTLY HIGH QUALITY GLOVES
AT EFFICIENT LOW COST
1 TAN SRI DR LIM WEE CHAI 7 TAN
SRI DATO’ SERI UTAMA ARSHAD BIN AYUB
2 PUAN SRI TONG SIEW BEE 8 DATUK NORIPAH BINTI KAMSO
3 DATO’ LEE KIM MEOW 9 DATUK DR. NORMA MANSOR
4 TAN SRI RAINER ALTHOFF 10 SHARMILA

SEKARAJASEKARAN
5 LIM CHEONG GUAN 11 TAY SEONG CHEE, SIMON
6 LIM HOOI SIN 12 DATO’ LIM HAN BOON

PROFILE OF DIRECTORS
TAN SRI DR LIM WEE CHAI

EXECUTIVE CHAIRMAN
Nationality/ Age : Malaysian/ 60
Gender : Male
Date of Appointment : 4 September 2000 (Founder)
Length of Service : 18 years 3 months
(as at 14 November 2018)
Date of Last Re-election : 5 January 2017
Board Committees : • Chairman of Investment Committee
(as at 14 November 2018) • Chairman of ESOS Option Committee
• Chairman of Employees’ Share Grant Plan Committee
Board meetings attended : 7/7
in the Financial Year
Qualification(s) : • Honorary Doctorate in Entrepreneurship from Management & Science University, Malaysia
• Honorary Doctorate in Business Administration from Oklahoma City University, United
States of America
• Doctor of Philosophy in Management from University of Selangor, Malaysia
• Master of Business Administration from Sul Ross State University, Texas, United
States of America
• Bachelor of Science Degree with Honours in Physics from University of Malaya, Malaysia
Present Directorship(s) : Listed entity : Tropicana Corporation Berhad
Other public company : Trustee of Top Glove Foundation
Present Appointment(s) : • Honorary President of the Associated Chinese Chambers of Commerce and Industry
since 2017
• Life Honorary President of the Federation of Hokkien Associations of Malaysia since 2017
• Honorary President of the Kuala Lumpur and Selangor Chinese Chamber of
Commerce and Industry since 2017
• Director and Board Member of the Employees Provident Fund since 2015
• Honorary President of the Malaysia-China Chamber of Commerce since 2012
• Life Honorary Advisor of the Federation of Chinese Association Malaysia since 2011
• Honorary Advisor of the Klang Chinese Chamber of Commerce since 2011
• Honorary Advisor of the Lim Association of Malaysia since 2011
• Director of Kuen Cheng High School since 2008
Past Appointment and : Tan Sri Dr Lim has been actively involved in many associations and organisations in
Working Experience Malaysia. He is the immediate Past President of the Federation of Malaysian Manufacturers
(FMM), having been in office in 2016/17. He served as the Director and Board Member
of University of Malaya from 2015 to 2018, Council Member of the East Asia Business
Council (EABC) from 2011 to 2015, and Director of the Association of Malaysia Medical
Industries (AMMI). In addition, he was also the President of the Malaysian Rubber Glove
Manufacturers’ Association (MARGMA) from 1997 to 1999. Prior to that, he served
as Vice-President, Honorary Secretary and Treasurer of MARGMA for seven years.
Family Relationship with : Spouse of Puan Sri Tong Siew Bee and the brother of Mr. Lim Hooi Sin, both
any Director(s) and/or are the Directors and Substantial Shareholders of the Company. He is also the
Substantial Shareholder(s) father of Mr. Lim Jin Feng, a Substantial Shareholder of the Company.
of the Company

(CONT’D)
TAN SRI DATO’ SERI UTAMA ARSHAD BIN AYUB

SENIOR INDEPENDENT NON-EXECUTIVE DIRECTOR
Gender : Male
Date of Appointment : 4 September 2000
(Re-designated as Senior Independent Non-Executive Director on 12 May 2017)
Date of Last : 9 January 2018
Re-appointment
Board Committees : • Chairman of Audit Committee
(as at 14 November 2018) • Chairman of Nomination and Remuneration Committee
• Member of Investment Committee
Qualification(s) : • Postgraduate Diploma in Business Administration from Management Development
Institute (IMEDE) (Now IMD), Lausanne, Switzerland
• Bachelor of Science (Hons) Economics and Statistics from University College of
Wales, Aberystwyth, United Kingdom
• Diploma in Agriculture from College of Agriculture, Serdang, Malaysia
Present Directorship(s) : Listed entities :
• Chairman of Malayan Flour Mills Bhd
• Chairman of Tomypak Holdings Berhad
• Chairman of Karex Berhad
Other public company : Nil

Present Appointment(s) : • Pro Chancellor of Universiti Teknologi Mara (UiTM)
• Chancellor of KPJ International University College of Nursing & Health Sciences
• Chancellor of INTI International University
• Governor of Tuanku Ja’afar College
Past Appointment and : • President of the Malaysian Rubber Products Manufacturers Association (MRPMA)
Working Experience • Chairman of Malaysian Rubber Export Promotion Council (MREPC)
• Member of the Malaysian Rubber Board (MRB)
• Chairman of Board of Directors of University of Malaya

Had a distinguished career in the Malaysian Civil Service, had held various senior
positions in various Ministries in the Malaysian Government from 1958 to 1983, including
serving as Economic Officer Penang and Deputy Controller Industrial Development
Division of the then Ministry of Trade and Industry, Deputy Governor of Bank Negara
Malaysia (1975 to 1977), Deputy Director General in the Economics Planning Unit of the
Prime Minister’s Department (1977 to 1978) and as Secretary General in the Ministry of
Primary Industries (1978), Ministry of Agriculture (1979 to 1981) and Ministry of Land and
Regional Development (1981 to 1983). Tan Sri Arshad was a Member of Justice Harun’s
Salaries Commission for statutory bodies and local government.

(CONT’D)
DATO’ LEE KIM MEOW

MANAGING DIRECTOR
Gender : Male
Date of Appointment : 15 October 2003
Date of Re-designated : 7 April 2009
as Managing Director
Length of Service : 15 years 1 month

Board Committees : Member of Risk Management Committee

Qualification(s) : • Bachelor of Law Degree from University of London, United Kingdom
• Bachelor of Commerce Degree from University of New South Wales, Australia
majoring in Accounting, Finance and Information System
Present Directorship(s) : Listed entity : Nil

Other public company : Trustee of Top Glove Foundation
Present Appointment(s) : • Chairman of the Asean Rubber Glove Manufacturers Association (ARGMA)
since 2013
• Trustee of MARGMA Foundation since 2015
• Board member of the Malaysian Rubber Export Promotion Council (MREPC)
since April 2018
Past Appointment and : Dato’ Lee has more than 15 years of experience in financial services, trading and
Working Experience manufacturing business having worked in established financial institutions and with
a well-known conglomerate with diversified interest in the ASEAN region.
the past 16 years, Dato’ Lee has been actively contributing to the development of
In
the rubber glove industry in Malaysia as well as the ASEAN region. He has served
for 14 years as a board member of the Malaysian Rubber Export Promotion Council
(MREPC) from 2002 to 2016. He was a board member of the Malaysian Rubber Board
(MRB) and the Tun Abdul Razak Research Centre (TARRC) from 2010 to 2011; and a
past President of the Malaysian Rubber Glove Manufacturers’ Association (MARGMA).
He was also the Chairman of the Organising Committee of the International Rubber
Glove Conference and Exhibition (IRGCE) from 2014 to 2016.

(CONT’D)
TAN SRI RAINER ALTHOFF

INDEPENDENT NON-EXECUTIVE DIRECTOR
Nationality/ Age : Malaysia Permanent Resident/ 72
Gender : Male
Date of Appointment : 14 March 2013
Date of Last : 9 January 2018

Re-appointment
Board Committees : Member of Risk Management Committee

Qualification(s) : Master degree (Diploma) in Electronics and Electrical Engineering from Bergische
University of Wuppertal, Germany
Present Directorship(s) : Listed entity : Nil
Other public company : Trustee of Jeffrey Cheah Foundation
Present Appointment(s) : • Member of Rotary Club Kuala Lumpur DiRaja since 2001
• Chief Executive Officer of ALC International Sdn. Bhd., Kuala Lumpur since 2009
• Member of International Advisory Panel to the Board of Directors of CIMB Bank
since 2009
• Executive Director of Lauda Interactive AG, Darmstadt/ Germany since 2015
• (Non-Administrative) Chairman of The Brand Laureate Foundation, Petaling Jaya
since 2016
• Executive Chairman of RaceRoom Sdn. Bhd., Kuala Lumpur since 2017
• Senior Advisor to T-Systems Malaysia Sdn Bhd, Cyberjaya since 2017
Past Appointment and : Has experiences in the fields of Electrical Engineering and Electronics which spans for
Working Experience more than 45 years. Tan Sri Rainer Althoff was the President and CEO of Siemens
Malaysia Sdn Bhd, Petaling Jaya for more than 11 years and also the spokesperson
of Siemens for all Siemens operations and its affiliated companies in Malaysia. He
was a Non-Executive Director of Proton Holdings Berhad, Subang Jaya for 3.5
years and also the Chairman of Nokia Siemens Networks Sdn Bhd, Kuala Lumpur
and Chairman of Coriant Malaysia Sdn. Bhd., Kuala Lumpur.

(CONT’D)
PUAN SRI TONG SIEW BEE LIM HOOI SIN

EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR
Nationality/ Age : Malaysian/ 60 Nationality/ Age : Malaysian/ 56

Gender : Female Gender : Male
Date of Appointment : 4 September 2000 Date of Appointment : 4 September 2000
(Co-Founder)
Length of Service : 18 years 3 months (as at 14 November 2018)
Date of Last Re-election : 6 January 2016 Board Committees : Nil
Board Committees : Nil (as at 14 November 2018)
(as at 14 November 2018) Board meetings attended : 7/7
Board meetings attended : 6/7 in the Financial Year
in the Financial Year Qualification(s) :
Qualification(s) : •
Charter Financial Consultant Diploma from American
• Master of Business Administration from Sul Ross State College, PA, United States of America
University, Texas, United States of America • Master Degree in Business Administration (Specialised in
• Bachelor of Science Degree with Honours in Computer Applied Statistics) from Arizona State University, United
Science from University of Science, Malaysia States of America
Present Directorship(s) : • Bachelor of Science Degree in Management Science from
• Listed entity : Nil Oklahoma State University, United States of America
• Other public company : Present Directorship(s) :
Trustee of Yayasan Pendidikan Tzu Chi Malaysia • Listed entity : Nil
Present Appointment(s) : Nil • Other public company : Nil
Past Appointment and Working Experience: Present Appointment(s) : Nil

Worked in the banking industry in the information technology Past Appointment and Working Experience:
field for more than ten (10) years, she was formerly attached Mr. Lim spent fourteen (14) years of his career with MetLife
to United Overseas Bank Berhad and Utama Bank Berhad. Financial Services, one of the largest insurance and financial
Family Relationship with any Director(s) and/or Substantial services company in the USA. Prior to this appointment, he
Shareholder(s) of the Company: was a Management Trainee, Associate Branch Manager,
Spouse of Tan Sri Dr Lim Wee Chai and sister-in-law of Regional Marketing Specialist, Agency Director and a
Mr. Lim Hooi Sin, both are the Directors and Substantial Director of Asian Market. His experiences include product
Shareholders of the Company. She is also the mother of development, marketing, recruiting, training and supervision
Mr. Lim Jin Feng, a Substantial Shareholder of the Company. of a large highly productive sales force. He was previously
a Director of AAAA (Arizona Asian American Association).
He has more than 20 years of experience in the USA glove
market, having been the founder of TG Medical USA, Inc.
(a wholly-owned subsidiary of the company) in 1994, and
served as its Executive Vice President from 2001 to 2005 and
President since 2005. He also sits on the Board of several
private limited companies.
Family Relationship with any Director(s) and/or Substantial
Shareholder(s) of the Company:
Brother of Tan Sri Dr Lim Wee Chai and brother-in-law of
Puan Sri Tong Siew Bee, both are Directors and Substantial
Shareholders of the Company.

(CONT’D)
LIM CHEONG GUAN DATO’ LIM HAN BOON

EXECUTIVE DIRECTOR INDEPENDENT NON-EXECUTIVE DIRECTOR

Gender : Male Gender : Male
Date of Appointment : 31 August 2006 Date of Appointment : 21 February 2011
Length of Service : 12 years 3 months Length of Service : 7 years 9 months

(as at 14 November 2018) (as at 14 November 2018)
Date of Last Re-election : 5 January 2017 Date of Last Re-election : 9 January 2018
Board Committees (as at 14 November 2018) : Board Committees (as at 14 November 2018) :
• Member of Risk Management Committee • Chairman of Risk Management Committee
• Member of Audit Committee
• Member of Nomination and Remuneration Committee
• Member of ESOS Option Committee
• Member of Employees’ Share Grant Plan Committee
• Member of ESOS Option Committee
Board meetings attended : 7/7 • Member of Employees’ Share Grant Plan Committee
Qualification(s) : in the Financial Year
• Member of Malaysian Institute of Accountants Qualification(s) :
• Member of Malaysian Institute of Certified Public • Master of Business Administration Degree from the
Accountants University of South Australia, Australia
• Bachelor Degree in Accounting, University of Malaya, • Fellow of the Association of Chartered Certified
Malaysia Accountants, United Kingdom
• Chartered Accountant of the Malaysian Institute of
Present Directorship(s) :
Accountants
• Listed entity : Nil
• Member of the Chartered Management Institute,
• Other public company : Nil United Kingdom
• Attended the Harvard Business School Senior
Present Appointment(s) :
Management Development Program
• Advisor to the Management Committee of Top Glove
Foundation since year 2008 Present Directorship(s) :
• Chairman of the Risk Working Committee since year 2014 • Listed entity : Nil
Past Appointment and Working Experience : • Other public company : Nil
Began his career with Price Waterhouse in 1990 and Present Appointment(s) :
subsequently held various key positions in a number • Independent Non-Executive Director of OCC Cables
of public listed companies in Malaysia whose business Limited, listed in Hong Kong Stock Exchange
activities spanned over manufacturing, plantation, trading • Founder/ Director of Envo BPO Services Sdn Bhd
and property development. • Advisor to Outsourcing Malaysia, a Chapter of PIKOM,
the National ICT Association
• Board Member of Kuen Cheng High School Kuala Lumpur
Past Appointment and Working Experience :
Dato’ Lim started his career in the Chartered Accounting firm
of Binder Hamlyn (now known as BDO). Subsequently, Dato’
Lim spent more than twenty (20) years in the transportation
and maritime logistics industry having worked for Kontena
Nasional Berhad, Northport (Malaysia) Berhad as its General
Manager, Corporate Services and NCB Holdings Berhad as
the Group Financial Controller and Company Secretary.
He is also no stranger in the Global Business Services/
Outsourcing Industry having spent more than ten (10) years
in this line, being the founder of Envo BPO Services Sdn Bhd.

(CONT’D)
DATUK NORIPAH BINTI KAMSO SHARMILA SEKARAJASEKARAN

INDEPENDENT NON-EXECUTIVE DIRECTOR INDEPENDENT NON-EXECUTIVE DIRECTOR

Gender : Female Gender : Female
Date of Appointment : 18 March 2015 Date of Appointment : 18 March 2015
Length of Service : 3 year 8 months Length of Service : 3 year 8 months
Board Committees (as at 14 November 2018) : Board Committees (as at 14 November 2018) :
• Member of Audit Committee • Member of Nomination and Remuneration Committee
• Member of Investment Committee • Member of Audit Committee
• Member of ESOS Option Committee • Member of ESOS Option Committee
• Member of Employees’ Share Grant Plan Committee • Member of Employees’ Share Grant Plan Committee
Board meetings attended : 7/7 Board meetings attended : 7/7
in the Financial Year in the Financial Year
Qualification(s) : Qualification(s) :
• Master in Business Administration, Marshall University, • Barrister-At-Law, Middle Temple, United Kingdom
Huntington, West Virginia, United States of America • Advocate & Solicitor, High Court of Malaya, Malaysia
• Bachelor of Science, Northern Illinois University, Dekalb, • B.A. Law & Economics (Hons.), Keele University, United
Illinois, United States of America
• Diploma in Business Studies, Institute Technology Mara, Kingdom
Malaysia • Adjudicator, Kuala Lumpur Regional Centre for Arbitration
Present Directorship(s) : Present Directorship(s) :

• Listed entity : Nil • Listed entity : Nil
• Other public company : • Other public company : Nil
Director of BIMB Investment Management Berhad Present Appointment(s) :
Present Appointment(s) : • Consultant in the Legal, Operations and Industry
• Chairman of the Islamic Finance Council, Malaysia US Development Departments of the RIM Group
Chamber of Commerce, Washington DC • Partner of Jerald Gomez & Associates since 2011, areas
• Member of Securities Industry Dispute Resolution Center, of practice are Intellectual Property, Banking Litigation,
Appeal Committee Corporate Advisory and Family & Estate Claims
Past Appointment and Working Experience: Past Appointment and Working Experience:
Began her career as Development Officer, Project Division Began her career as legal assistant in year 1998 with Messrs.
with Urban Development Authority (“UDA”) from 1980 to Chooi & Co., and joined Messrs. Tay & Partners as Senior
1983 and joined Bank of Commerce (M) Berhad as Senior Legal Assistant in the Intellectual Property Department in
Corporate Banker from 1983 to 1986. She joined the CIMB 2000.
group since year 1993 to 2014 and held various key positions
in CIMB Group. She joined the RIM Group in year 2005 and held various
positions in the RIM Group.
She was the Chief Executive Officer of CIMB Futures Sdn.
Bhd. from 1996 to 2012, the Chief Executive Officer of CIMB
Principal Asset Management Berhad from 2005 to 2013
and the founding Chief Executive Officer of CIMB Principal
Islamic Asset Management Sdn. Bhd. from 2008 to 2012.
Since 2008, she has successfully established a global
platform for the firm to extend its reach to UK, Europe, GCC,
Asia, USA and Australia. Datuk Noripah Kamso was a former
Advisor of CIMB Islamic from 2013 to 2014.
She was also the Past President of the Malaysian Futures
Brokers Association (MFBA). She was formerly a Global
Practitioner in Residence in Principal Financial Group Centre
for Global Citizenship, USA in 2015. In the academic year
2016/17, she was a Fellow in Islamic Finance in Oxford
Centre for Islamic Studies (OCIS), an independent college of
the University of Oxford, United Kingdom.

(CONT’D)
TAY SEONG CHEE, SIMON DATUK DR. NORMA MANSOR

INDEPENDENT NON-EXECUTIVE DIRECTOR INDEPENDENT NON-EXECUTIVE DIRECTOR
Nationality/ Age : Singaporean/ 57 Nationality/ Age : Malaysian/ 61

Gender : Male Gender : Female
Date of Appointment : 15 June 2016 Date of Appointment : 12 May 2017
Length of Service : 2 Year 5 months Length of Service : 1 year 6 months
Board Committees : Nil Board Committees (as at 14 November 2018 ) :
(as at 14 November 2018) • Member of Risk Management Committee
Board meetings attended : 7/7 • Member of Nomination and Remuneration Committee
in the Financial Year • Member of ESOS Option Committee
• Member of Employees’ Share Grant Plan Committee
Qualification(s) :
• Bachelor of Laws, LLB (Honours) from the National University Board meetings attended : 7/7
of Singapore in the Financial Year
• Masters in Law, LLM from Harvard Law School Qualification(s) :
Present Directorship(s) : • Doctor of Philosophy (Ph.D.) from University of Liverpool
• Listed entity : Nil • Master of Public Administration (MPA) from University of
Liverpool
• Other public company : Nil
• Bachelor of Economics (Honours) Degree from University
Present Appointment(s) : of Malaya
• Advocate and solicitor of the Supreme Court of Singapore Present Directorship(s) :
• Chairman, Singapore Institute of International Affairs
• Associate Professor, Faculty of Law, National University • Listed entity : Nil
of Singapore • Other public company : Nil
• Senior Consultant, WongPartnership
• Global Advisory Board Member, Mitsubishi UFJ Financial Present Appointment(s) :
Group of Japan • Director of Social Security Research Centre of University
• Independent & Non-Executive Director, LGT Bank of Malaya
(Singapore) Ltd • President of Malaysian Economic Association
• Independent & Non-Executive Director, Far East
Organisation Past Appointment and Working Experience :
• Independent Director, Hyflux Ltd. (publicly listed on the SGX) Datuk Norma started her career as a lecturer at the Department
• Commissioner, PT Oasis Waters International of Administrative Studies & Politics at University of Malaya
in 1985. She was promoted as Associate Professor in 1992
Past Appointment and Working Experience : and as Head of Department & Professor in 2000. She holds
His previous corporate appointments include the Toyota the position as an Executive Director of International Institute
Motor Corporation Global Advisory Board (2010 to 2015), of Public Policy and Management from 2001 to 2004 and was
as a Corporate Advisor to Temasek Holdings (2006 to 2009) subsequently appointed as Dean of the Faculty of Economics
and Independent Director of Eurex Clearing Asia Pte Ltd and Administration from 2004 to 2009.
(a subsidiary of the Deutsche Bourse). He has spoken at Her past appointment includes the Ragnar Nurkse Visiting
leading business conferences including the World Economic Professor of the School of Innovation and Governance, Talinn
Forum, APEC CEO Summits and SIBOS, and briefed major University of Technology, Estonia in 2015; seconded to the
corporate boards and financial institutions about the politics Prime Minister’s Department as Secretary to the National
and economics that matter to businesses. Economic Advisory Council (NEAC) from 2009 to 2011.
From 1992 to 2008, he served in a number of public appointments Datuk Norma’s main research interests are associated with
for Singapore. These included serving as Chairman of the topics relating to Social Protection, Ageing, Public Policy,
National Environment Agency, a major government agency Development and Governance. She has published eight
with over 3,000 civil servants, reporting to the Minister (2002 to books and more than hundred academic journal articles,
2008); an independent Member of Parliament (1997 to 2001); book chapters and media articles; and she has spoken in
and to coordinate the Singapore Volunteers Overseas, the more than 80 conferences and events.
country’s equivalent of the Peace Corps (1990 to 1993).
He was Chair or Co-Chair for a number of public commissions Note :
such as Singapore 21, the Singapore Green Plan and the
Save as disclosed, all other Directors have no family relationship with
Singapore Concept Plan 2010. In 2006, Prof Tay received a any Director(s) and/or Substantial Shareholder(s) of the Company,
National Day Award. He continues to serve Singapore in a number have no conflict of interest with the Company, have not been
of roles including as an Expert and Eminent Person in the ASEAN convicted of any offence within the past 5 years other than traffic
Regional Forum, a member of the government’s Climate Change offences, if any, and have no public sanction or penalty imposed by
Network and as Vice-Chairman of the Asia Pacific Water Forum. the relevant regulatory bodies during the financial year.

SENIOR MANAGEMENT TEAM
Lim Hooi Sin Puan Sri Tong Siew Bee Tan Sri Dr Lim Wee Chai Dato’ Lee Kim Meow Lim Cheong Guan
2ND ROW
3RD ROW
4TH ROW
5TH ROW
2nd row (left to right) 3rd row (left to right) 4th row (left to right) 5th row (left to right)
Hue Kon Fah Puon Tuck Seng Ngian Yoke Fung Seah Chong Shew
Wong Chong Ban Ong Ah Chye Noor Akilah Saidin Looi Guat Kian
Datoʼ Ir Haji Ahmad Lee Shin Hwai Wilawan Sakulsongboonsiri Chen Chew Lan
Thomas Petermoeller Tan Chee Hoong Mansor Bin Daud Aileen Choh
Noraziah Mahmud Tan Kian Guan Loke Kean Mun Chan Siew Lan
Jeremy Liew Dorothy Ressel See Sook Fong Edwyn Poon
Lew Sin Chiang Lim Hwa Chuan Wendy Yeoh Siah Ming Lei
Eric Hoo Saw Ho Apple Lau Loo Sun Nooi Michelle Voon
Aaron Lam Thomas Buri Chang Chee Keong Cheong Yan Tatt
Ravi A/L Supramaniam Michelle Ang Phattaraporn Fueangthong Lim Jin Feng
Chookiad Usaha Calvin Ng Tan Lee Sem Kassy Lim
Leong Chew Mun Ng Yong Lin Ng Seow Wei

PROFILE OF KEY SENIOR MANAGEMENT
The Management team is headed by the Executive Chairman,

Tan Sri Dr Lim Wee Chai and Managing Director, Dato’ Lee Kim Meow.
They are assisted by the Executive Directors, Puan Sri Tong Siew Bee,
Mr. Lim Hooi Sin and Mr. Lim Cheong Guan; and the following key senior
management team:
WONG CHONG BAN Qualification(s) :
Executive Director (Subsidiary Bachelor of Science, Chemistry
Company), Manufacturing Experience :
Nationality : Malaysian More than 20 years of experience in the glove
Age/ Gender : 46/ Male manufacturing industry.
Date of appointment :
9 March 1998
HUE KON FAH Qualification(s) :

Executive Director (Subsidiary 1. Bachelor of Arts (Hons) Economics
Company), Manufacturing 2. Diploma of the Plastics and Rubber Institute
Nationality : Malaysian Malaysia
Age/ Gender : 61/ Male 3. Member of Malaysian Institute of Management
Experience :
More than 37 years of experience in the electronic,
9 January 2003
plastic and glove manufacturing industry.
LEW SIN CHIANG Qualification(s) :

Senior General Manager, Bachelor of Science, Industrial Chemistry
Manufacturing Experience :
Nationality : Malaysian More than 20 years of experience in the glove
Age/ Gender : 45/ Male manufacturing industry.
16 March 1998 Mr. Lew is the brother-in-law of both Tan Sri Dr Lim
Wee Chai and Puan Sri Tong Siew Bee.
DATO’ IR HAJI AHMAD Qualification(s) :

B. HASSAN 1. Bachelor of Science, Mechanical Engineering
Advisor, Govt. Affairs, Project & (UK England)
Security 2. Master Degree in Marine Technology
Nationality : Malaysian (UK England)
Age/ Gender : 71/ Male Experience :
Date of appointment : Total 48 years of working experience in the
3 September 2009 Royal Malaysia Police (PDRM) and qualified as
Professional Engineer P.Eng of Malaysia.
NORAZIAH MAHMUD Qualification(s) :

Senior General Manager, Bachelor Degree of Management Systems (Hons)
Marketing Experience :
Nationality : Malaysian More than 24 years of experience in the field of
Age/ Gender : 49/ Female marketing.
13 December 1993

PROFILE OF KEY SENIOR MANAGEMENT
(CONT’D)
AARON LAM YAT HING Qualification(s) :

Senior General Manager, 1. Certificate in Material Engineering
Marketing 2. Diploma in Material Engineering
Nationality : Malaysian Experience :
Age/ Gender : 52/ Male More than 19 years of experience in the field of
marketing.
17 January 2011
JEREMY LIEW SAY KEONG Qualification(s) :

Senior General Manager, Bachelor Degree of Finance & Accounting
Finance Experience :
Age/ Gender : 59/ Male accounting and finance.
3 May 2005
CHOOKIAD USAHA Qualification(s) :

Senior General Manager, 1. Bachelor of Science, Electrical Engineering
Manufacturing 2. Diploma in Management
Nationality : Malaysian 3. Member, Institution of Engineers Malaysia
Age/ Gender : 59/ Male Experience :
Date of appointment : More than 35 years of experience in various
1 November 2003 manufacturing environment.
RAVI A/L SUPRAMANIAM Qualification(s) :

General Manager, Bachelor of Science, Mechanical Engineering
Manufacturing Experience :
Age/ Gender : 53/ Male manufacturing.
11 January 2006
Notes:
Save as disclosed above, none of the key senior management has:
(a)
any directorship in public companies and listed issuers;
(b) any family relationship with any directors and/or major shareholders of the Company;
(c) any conflict of interest with the Company;
(d) any conviction for offences (other than traffic offences) within the past five (5) years; and
(e) any public sanction or penalty imposed by the relevant regulatory bodies during the financial year.

INTENSIFYING OUR
FOCUS ON R&D,
AUTOMATION AND
ADVANCED TECHNOLOGY
We continue to increase our investment in R&D,
innovation and automation initiatives, while embracing
advanced technologies such as Industry 4.0.
These enable us to keep improving our product quality

and cost efficiency, which is essential to delighting our
customers and maintaining our leadership position in
the international arena.
FINANCIAL HIGHLIGHTS
REVENUE PROFIT BEFORE TAX NET PROFIT

(RM MILLION) (RM MILLION) (RM MILLION)
4,214.5
528.6
437.9
3,409.2
442.2
362.4
2,888.5
385.0
330.5
363.5
2,510.5
2,313.2
2,275.4
281.2
242.2
202.8
216.3
183.6
’13 ’14 ’15 ’16 ’17 ’18 ’13 ’14 ’15 ’16 ’17 ’18 ’13 ’14 ’15 ’16 ’17 ’18
TOTAL ASSETS
REVENUE (+23.6%) (RM MILLION) NET PROFIT (+32.3%)
5,270.6
RM4,214 RM438
MILLION MILLION
2,990.2
(2017 : RM3,409 MILLION)

2,701.1
(2017 : RM331 MILLION)

2,687.9
1,933.2
1,771.4
TOTAL ASSETS EPS (+29.9%)

(+76.3%)
’13 ’14 ’15 ’16 ’17 ’18
RM5,271 16.97
MILLION SEN
RETURN ON EQUITY
(2017 : RM2,990 MILLION) (2017 : 13.06 SEN)
(%)
19.3
18.3
17.4
NET DIVIDEND
16.0
ROE (IMPROVED 2.3%)

14.9
PER SHARE (+17.2%)

13.1
18.3% 8.50
SEN
(2017 : 16.0%)
(2017 : 7.25 SEN)
’13 ’14 ’15 ’16 ’17 ’18

6-YEAR FINANCIAL REVIEW
The Group registered

Compounded Annual
T H
W
Growth Rates (CAGR) for
revenue and net profit
R O
G
attributable to equity of
24% and 27% respectively,
since listing
in 2001.
31.8.18 31.8.17** 31.8.16** 31.8.15 31.8.14 31.8.13

Group (RM’000) (RM’000) (RM’000) (RM’000) (RM’000) (RM’000)
Turnover 4,214,482 3,409,176 2,888,515 2,510,510 2,275,366 2,313,234
Earning Before Interest,

Depreciation & Taxation 694,063 483,992 524,682 441,714 301,800 310,618
Profit Before Taxation 528,595 385,043 442,202 363,538 216,310 242,204
Taxation 90,689 54,514 79,763 82,346 32,745 39,375
Profit After Tax 437,906 330,529 362,439 281,192 183,565 202,829
Profit Attributable to
Owners of the Parent 434,215 330,664 360,729 279,781 180,523 196,500
Net (Borrowings) / Cash (1,854,384) 70,584 303,747 180,106 157,633 158,390
Total Equity / Net Assets 2,393,768 2,064,432 1,875,697 1,614,393 1,397,550 1,357,841
Return on Equity (%) 18.3 16.0 19.3 17.4 13.1 14.9
Net Assets Per Share (RM)*# 0.94 0.82 0.75 0.65 0.57 0.55
Basic Earnings Per Share (RM)*# 0.17 0.13 0.15 0.11 0.07 0.08
Net Dividend (sen)* 8.50 7.25 7.25 5.75 4.00 4.00
Number of Shares in Issue (’000)# 1,278,158 1,254,135 1,252,648 620,860 620,664 620,220
Share Price (RM)^ 11.14 5.61 4.25 7.72 4.79 6.14
Market Capitalisation# 14,238,680 7,035,697 5,323,754 4,793,039 2,972,981 3,808,151
*
The
comparative net assets per share, basic earnings per share and net dividend have been restated
taken into account the effect of bonus issue on the basis of one new ordinary share for every one existing
ordinary share held in FY2018.
#
Based on Company’s issued and paid up share capital, excluding treasury shares.
^
As at the last trading day of the financial year.
** Figures have been restated.

ENHANCING SHAREHOLDERS’ VALUE
8.50
DIVIDEND PAYOUT 7.25 7.25
DIVIDEND POLICY : 5.75

50% OF PROFIT AFTER TAX AND 5.00
MINORITY INTEREST 4.00 4.00 4.25 4.25
Total Dividend (sen)

3.75
Proposed Final Dividend (sen)
2.25 2.25
Final Dividend (sen)
Interim Dividend (sen) 3.00 3.00 3.50
1.75 1.75 2.00
2013 2014 2015 2016 2017 2018

Total Dividend (RM million) 99.3 99.0 143.1 181.6 181.9 217.3
Payout Ratio (%) 51 55 51 50 55 50
TOTAL DIVIDEND PAYMENT OF RM1,250 MILLION SINCE LISTED IN YEAR 2001.

Note: The dividends have been restated taken into account the effect of bonus issue.
EQUITY HOLDERS STRUCTURE SHAREHOLDER MIX

(MALAYSIAN & FOREIGNER) (MALAYSIA VS. FOREIGN)
as at 31 August 2018 as at 31 August 2018
47.77% 57.78%
Malaysian Substantial Malaysian Institution
Shareholders
7.26%
Malaysia Retail
29.27%
Other Malaysian 34.91%
Shareholders Foreign Institution
22.96% 0.05%
Foreign Shareholders Foreign Retail
TOTAL EQUITY MARKET CAPITALISATION (RM million)

(RM million) (as at last trading day of financial year end)
14,238.7
2,393.8
2,064.4
1,875.7
1,614.4
1,397.6
1,357.8
7,035.7
5,323.8
4,793.0
3,808.2
2,973.0
2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018
Investor Relations Contact

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 www.topglove.com

LETTER TO STAKEHOLDERS AND
MANAGEMENT DISCUSSION & ANALYSIS
OUR BUSINESS
PHILOSOPHIES ARE:
1
WE WORK FOR OUR
CUSTOMERS
2
WE TAKE CARE OF
THE INTEREST OF OUR
SHAREHOLDERS
3
WE ENSURE THAT OUR
EMPLOYEES CONTINUE
TO CONTRIBUTE
POSITIVELY TO THE
COMPANY AND WE
TAKE GOOD CARE OF
THE WELL-BEING OF
OUR EMPLOYEES
4
WE WORK CLOSELY
WITH OUR BANKERS,
SUPPLIERS, BUSINESS
ASSOCIATES,
GOVERNMENT
TAN SRI DR LIM WEE CHAI DATO’ LEE KIM MEOW
AUTHORITIES AND
Executive Chairman Managing Director FRIENDS
Top Glove Corporation Bhd Top Glove Corporation Bhd

(CONT’D)
DEAR FELLOW STAKEHOLDERS,

FY2018 has been another exciting year for Top Glove, with many positive developments.
It has emerged another record year for us, where once again, we delivered an unmatched
financial performance for our full financial year 2018. While steadily expanding organically,
we also concluded several M&A exercises which unlocked synergistic opportunities for
the Group. These include the acquisition of Aspion Sdn Bhd, which has enabled Top Glove
to emerge the world’s largest surgical glove manufacturer and Duramedical Sdn Bhd,
which saw us further diversifying into healthcare related products. Our condom factory
also commenced operations, enhancing our non-glove product range offerings. In addition,
we levelled up our human capital management platform to align with our future growth
aspirations. In recognition of business excellence and good corporate governance, we also
garnered several awards and were included on some of the most prestigious indices.
The Board of Directors and Management of Top Glove at the 27th Anniversary & Appreciation Dinner in August 2018
A YEAR OF RECORD HIGHS For FY2018, Top Glove once again registered record-
breaking Sales Revenue of RM4.21 billion, surpassing
HIGHEST FULL YEAR HIGHEST FULL YEAR
the RM4 billion threshold and representing a 23.6%
growth from FY2017. Profit Before Tax was also at an
REVENUE PROFIT AFTER TAX
all-time high of RM528.6 million, an exceptional 37.3%
jump compared with FY2017. Meanwhile, Sales
RM4.2 RM438 Volume (quantity sold) reached its peak, surging 26%
year-on-year. In FY2018, the Group also delivered
BILLION MILLION
its highest ever quarterly Revenue of RM1.2 billion
(4QFY2018).
HIGHEST QUARTERLY HIGHEST FULL YEAR
REVENUE VOLUME SOLD The Group’s favourable results were attributed to
ongoing internal improvements, particularly involving
RM1.2
BILLION
49
BILLION
the application of advanced technology which led to
breakthroughs in quality enhancement and cost efficiency,
(4QFY2018) GLOVES and also reduced manpower requirements. Meanwhile,
the uptrend in Sales Revenue followed increased
demand across all glove segments, highlighting the
We are very pleased to have charted another historical importance of gloves as an essential item to the medical
high with our best full-year performance yet, particularly sector, increasingly stringent health requirements and
given the challenging operating environment. rising healthcare awareness globally.

(CONT’D)
Raw material prices for FY2018 were mixed. Natural The record increase in Sales Volume of 26% versus
rubber latex prices averaged at RM4.51/kg, down FY2017 stemmed both from developed and developing
21.7% against FY2017, while the average nitrile latex countries, with increases recorded across all regions.
price was USD1.13/kg, up 2.7% compared with the Developing countries where glove usage is relatively
previous financial year. However, we were able to low but rapidly rising, accounted for 72% of the growth
offset the uptrend in nitrile latex prices by increasing in Sales Volume with the bulk of orders being for latex
our average selling prices (ASPs). We also benefited gloves, largely due to increased healthcare spending
from the decrease in natural latex cost, owing to our and awareness, coupled with intense marketing
balanced product mix which comprises both nitrile activities to leverage the burgeoning demand. Asia
and latex gloves. Top Glove was also able to mitigate (ex-Japan) in particular experienced a 58% rise in
the impact of other headwinds which included the Sales Volume while Eastern Europe was up 39.6%.
weakening of the USD and an increase in the natural The Middle East and Africa where demand is notably
gas tariff with the cost pass through system. starting to increase, showed an uptrend in Sales
Volume of 38.7% and 35.3% respectively, compared
Meanwhile, both our Thailand and China operations with FY2017. Meanwhile, in developed markets such
continued to contribute positively to the Group as Western Europe, Sales Volume continued to move
with additional capacity coming on-stream as well up albeit by a smaller percentage, especially for nitrile
as increased operational efficiency arising from examination gloves.
higher utilisation. However, competition in China
has intensified as more glovemakers comply with Latex gloves (powdered and powder-free) were
regulations or move to areas which are not affected the highest contributors to total Sales Revenue,
by the country’s strict enforcement against polluting accounting for 45%, while nitrile gloves accounted
industries. for 40%. While surgical gloves comprised only 2% of
our product mix, their Revenue contribution was 9%
MANAGEMENT DISCUSSION AND ANALYSIS owing to higher selling prices.
Top Glove’s all-time high Sales Revenue of RM4.21 The strong demand growth also led to a higher
billion in FY2018 came on the back of an increase in utilisation rate, resulting in improved efficiency and
demand across all glove segments, underscoring the margins. These, coupled with targeted internal
importance of maintaining a comprehensive range of improvement initiatives were instrumental in achieving
gloves and balanced product mix which is aligned Top Glove’s highest ever Profit Before Tax (PBT) as well
with global demand. In particular, surgical gloves sales as better EBITDA in FY2018.
saw a surge of 76% vis-à-vis FY2017, which includes
5 months’ contribution from Aspion from the time of Our Sales Volume by region is depicted below:
completion of the M&A exercise in April 2018.
SALES VOLUME (QUANTITY) COMPARISON BY REGION

Western Europe
FY18 vs FY17 Eastern Europe
35.8% FY18 vs FY17
39.6%
Asia ex Japan
NORTH FY18 vs FY17
AMERICA 58.0%
North America EASTERN
FY18 vs FY17 EUROPE
WESTERN
1.6% Japan
EUROPE
ASIA FY18 vs FY17
7.0%
AFRICA
LATIN
AMERICA Middle East
FY18 vs FY17
Latin America 38.7% OCEANIA
FY18 vs FY17
21.8% Africa
FY18 vs FY17
35.3%
STRONG GROWTH IN DEVELOPING COUNTRIES

(CONT’D)
The geographical breakdown of Sales Volume for b) Product mix by Sales Revenue for FY2018
FY2018 is depicted below:
1%
FY2018 Sales Volume by Geography 5% TPE/CPE
Vinyl
T
7% 3%
Africa Africa
40% V
Japan
9% Nitrile
Surgical
31% S
8% Europe Japan
Middle
East P
Middle East
11%
Latin Latin America
P
America
19%
Powder-free
Asia latex
ex Japan
N
North America 26%

Powdered latex
15%
Asia ex Japan
25% Europe
North America
We are optimistic that global glove demand will
continue to rise steadily going forward, and expect
around 10% growth yearly, as gloves represent
Our product mix by Sales Volume (Quantity Sold) and an indispensable item in the healthcare sector for
Sales Revenue for FY2018 is depicted below: which there is presently no replacement. Gloves
are also a disposable item for one-time use; hence
demand is recurring. Glove usage is also expected
a) Product mix by Sales Volume from FY2014 to to increase as hygiene standards continue to rise and
FY2018 health regulations become progressively stringent,
mandating the use of gloves. Growing awareness of the
importance of healthcare along with the emergence of
50% new health threats like H1N1, bird flu and Ebola, also
48% keep gloves at the forefront. Additionally, a growing
46% ageing population, which is susceptible to disease
and requires more medical attention will boost glove
40% 39% usage considerably.
36% 36% Top Glove’s consistently strong performance

underscores the effectiveness of internal improvement
30% 32% 32% 31% initiatives pursued on a continuous basis in the
28% following areas:
24%
i) Utilities
20%
20% 19% 20% 20%
18% • Natural Gas
For better gas energy savings, we invested in
10%
higher efficiency heating elements and special
10% 11% thermal insulation, and also replaced metals with
8% engineering plastics. In addition, we improved
6% 6%
hot air circulation and maximised the recovery
0% 2% 2% 2% 2% 2% of usable heat in production. Combustion
emissions are continuously monitored, while
combustion equipment is serviced regularly to
FY2014 FY2015 FY2016 FY2017 FY2018 ensure consistent combustion efficiency. These
have enabled us to mitigate the cost impact of
Nitrile gloves
the 23.5% hike in the gas tariff which came into
Vinyl / TPE / CPE gloves
effect January 2018.
Latex powdered gloves Surgical gloves
Latex powder-free gloves

(CONT’D)
• Water iii) Downtime Reduction

Our ongoing water saving projects include
With the widespread implementation of predictive
rain water harvesting, water recycling and and preventive maintenance for critical machinery
automation of water supply and control. To and equipment, we have minimised the occurrence
ensure an adequate supply is available for of unscheduled downtime thereby ensuring
everyday operations, we invested in a Reverse continuity of operations, which translates into
Osmosis Treatment Plant (ROTP) which treats higher productivity.
wastewater discharged from the surrounding
factories, converting it into clean water, which iv) Productivity Improvement
is then channeled back into the factories for To enhance productivity, we are working towards
reuse in production. This has yielded a 15.7% increasing production line speed by focusing on
reduction in average water consumption volume breakthroughs from engineering, structural and
per glove. mechanical improvements. Other initiatives include
increasing heating and drying efficiency, better
• Electricity chemical formulation and process control, as well
Our initiatives to minimise wastage of electricity as overhauling of under-performing production
include stabilising the electric power quality, lines, the result of which production efficiency for
investing in more efficient equipment and existing factories has increased by an average of
conducting regular maintenance on electrical 12% in FY18.
distribution systems.
ii) Automation and Digitalisation CORPORATE MILESTONES

We continue to automate our operations, enabling
us to reduce manpower dependency and cost, as Organic expansion
well as human error. As we move towards Industry
4.0, we are also increasingly focusing on process To ensure we are well-positioned to meet the robust
digitalisation for better data accuracy and big data global demand for gloves and achieve our ambitious
traceability. Fortune Global 500 dream, Top Glove will continue to
pursue strategic expansion.
Our blueprints for expansion are detailed in the diagram

below.
Organic Expansion Plans for Top Glove
Factory Country Glove Type Number of Capacity

production lines (pieces per annum)
Current: 32 glove factories All 648 lines 60.5 bn
Expansion in progress:
F32 1st Phase (Early 2019) Malaysia Nitrile 22 lines 2.2 bn
F32 2 Phase (End 2019)
nd
Malaysia Nitrile 12 lines 1.2 bn
F33 New Block (Early 2019) Malaysia Nitrile 12 lines 1.2 bn
F5A New Block (End 2019) Malaysia Nitrile 20 lines 2.0 bn
F8A 1st Phase (Early 2020) Thailand Nitrile/Latex 32 lines 3.2 bn
F40 2 Phase (Mid 2020)
nd
F41 1 Phase (End 2020)
st
Total Expansion 132 lines 13.2 bn
Total by 2020 : 36 glove factories 780 lines 73.7 bn
Top Glove is also looking to expand its operations to Vietnam and has entered into an agreement to acquire a piece
of land for a factory which is expected to commence operations within the next 2 years. Meanwhile, Top Glove’s
condom manufacturing facility commenced production in July 2018 and is presently awaiting certification.

(CONT’D)
Top Glove’s Board of Directors at the 19th Annual General Meeting held on 9 January 2018
On an acquisition trail: M&A’s and JV’s Other developments
In support of its ambitious growth agenda Top Glove The Group also proposed to undertake a bonus issue
will also continue to explore inorganic expansion via of 1,280,229,124 new ordinary shares in Top Glove
mergers and acquisitions, joint ventures as well as Corporation Bhd on the basis of 1 bonus share for
new set-ups in related industries in order to grow every existing Top Glove share held on the entitlement
faster and more efficiently. In April 2018, we completed date, which was approved at an EGM held on 10
the acquisition of Aspion Sdn Bhd, one of the largest October 2018 and completed on 29 October 2018.
surgical glove producers globally, making Top Glove The said EGM also approved a proposal to undertake
the world’s largest surgical glove manufacturer a bonds issue to raise funds for the repayment of bank
and providing our enlarged customer base with an borrowings, as well as amendments to the Company’s
enhanced range of high quality, cost-effective medical Constitution to facilitate the issuance of bonus shares
gloves. for the bonus issue.
In line with the Group’s plans to further diversify into Underscoring the Group’s commitment to enhance
medical products, we also acquired Duramedical shareholder value, the Board recommended a final
Sdn Bhd, a company manufacturing dental hygiene dividend of 5 sen per share, subject to shareholders’
products and exercise bands. This, along with the approval at the upcoming AGM in January 2019. This
establishment of our condom factory, marks the would bring the total FY2018 dividend payout to 8.5 sen
start of the Group’s venture into other rubber related per share, an increase of 1.25 sen or 17% over FY2017,
businesses, which we aim to grow over time. representing a net profit payout ratio of 50%.
In addition, to improve our supply chain coordination In recognition of its product excellence, Top Glove
as well as cost and quality control for glove packaging garnered the Most Innovative Award 2018 and Export
materials, we acquired Eastern Press Sdn Bhd, a Excellence Award 2018 by the Malaysian Rubber
printing and packaging material manufacturer. Export Promotion Council (MREPC). In addition, Top
Glove was named one of the Best Companies to
Top Glove also established a majority held joint venture Work for in Asia 2018 by HR Asia. Top Glove was
with Fimatec to produce ground calcium carbonate also included in the MSCI Global Standard Index and
slurry (a raw material) for use in glove production, for maintained its inclusion on the FTSE4Good Bursa
better cost efficiency. Malaysia Index, both tributes to its strong, consistent
growth and good corporate governance.
Towards strengthening our people processes, the Group

also invested in SAP SuccessFactors to transform its
Human Capital Management (HCM) platform, with a
view to attracting and on-boarding the right talent.
(CONT’D)
BUILDING A BUSINESS FOR GOOD Towards remaining market-responsive, we are also

pursuing process innovation. This is especially
We are mindful that our duty to create value does not important in our industry where rapid technological
only extend to our immediate shareholders but the advancements, evolving industrial standards and
society in which we operate. Accordingly, even as we volatile raw material prices have significantly increased
set and pursue greater goals for the expansion of our competition between market players.
business, a foremost consideration is to ensure that
our growth does not come at the expense of society In 2015, Top Glove established an in-house former
or the environment. repair service to improve cost efficiency in this area.
Where previously, former repair was outsourced, we
Our Sustainability Statement which discusses our are now able to do this in-house enabling us to save
custodianship of the 3 sustainability pillars covering on purchasing new formers as well as time taken
Environmental, Social and Economic aspects may be to send for external repair. Top Glove also invested
found on pages 48 to 59. approximately RM7 million to develop an innovative
method to repair formers through reglazing, which
reduces the need to purchase new formers, the cost
R&D AND TECHNOLOGICAL ADVANCEMENT of which amounts to RM2 million a month. As of now,
a total of seven kilns (former repair facilities) have been
Our dedicated R&D Centre is charged with driving set up, with five in Malaysia and two more in Thailand.
R&D initiatives and innovation at Top Glove. Since
its inception in 2013, the centre has undergone A chemical dispersion plant was established for
rapid expansion in terms of facilities and workforce, in-house chemical dispersions like functionalised
underscoring its increasing importance in Top Glove. reinforcing agents, latex dispersion stabilisers and
The R&D team’s total headcount of 151 (as at 31 curing agents. This opens up the possibility of
August 2018) includes 86 researchers comprised of 16 modifying glove formulations faster to meet market
PhD, 19 Master’s and 47 Bachelor’s degree holders. demand at an efficient cost, while improving the
Investments have also been made to equip the R&D consistency of glove quality and ultimately reducing
Centre with the latest analytical and characterisation the lead time for glove product enhancement.
instruments such as SEM-EDX, HPLC and GCMS.
Moving towards automation and digitalisation, we also
Our R&D initiatives have enabled new ideas and invented an online defective glove inspection system.
concepts to be translated into commercially viable This serves to reduce our manpower dependency
products for our customers such as GripPlusTM Nitrile and increase the efficiency of the glove inspection
Examination Gloves, CPE Double Textured Gloves and process. The robotic simulation system in our R&D
Accelerator-Free Damp Donning Nitrile Gloves. Efforts Centre also expedites the research process through a
have also been made to ensure the newly-developed programming system which enables us to simulate the
products meet stringent international directives and processing of glove products in different parameters.
regulations. Additionally, investments have been
made towards obtaining product certifications such In line with our commitment to the environment, we
as FDA’s 510(k), chemotherapy drug testing, modified have adopted a ‘Zero Waste’ concept, which involves
Draized-95 test and others. Top Glove factories are managing processes to avoid, conserve, recover and
also certified with ISO9001 and ISO13485 to ensure reuse waste for other purposes. With this in mind, we
our products fulfill GMP requirements. Top Glove will developed an environmentally-friendly cleaning agent
continue to focus on product innovation to ensure we for online former washing, which uses wastewater
remain relevant and competitive in the global arena. generated from the glove manufacturing process. This
innovative process not only reduces production cost
but is also proven to be more efficient in prolonging
former shelf life.
Top Glove works with experienced IP attorneys and

agents, to manage the IP filing and application process,
towards properly protecting its intellectual property.
As at FYE2018, we had filed a total of 84 patents and
patent applications locally and internationally, which
includes 22 granted patents. In addition, we also filed
42 trademarks in multiple classes and 5 industrial
designs locally and internationally.
Tan Sri Dr Lim Wee Chai and Dato’ Lee Kim Meow present
the Best Factory 2017/2018 Award to Mr. Ravi (4th from left)
accompanied by Mr. Ho Kim Nam (representing Factory 14).
The runner-up award went to Factory 13 headed by Mr. Lew
Sin Chiang (far right) and accompanied by Mr. Selvan Murugan
while the Most Improved Factory Award was given to M02
headed by Mr. Wong Chong Ban (2nd from left) accompanied
by Mr. Kelvin Lee.
(CONT’D)
Top Glove’s directors and key management at the company’s Board Offsite Meeting in Thailand led by its Corporate Advisor,
Tan Sri Megat Zaharuddin
LOOKING AHEAD IN APPRECIATION
Even as we chart our growth for the year ahead, On behalf of the Board, I would like to extend my
Top Glove is mindful of potential challenges which gratitude to my fellow Top Glovers for their level of
include cost increases and intensifying competition. dedication, which is second to none. Your positive
Nonetheless, we remain confident of industry prospects contributions have resulted in the resounding success
and that demand will continue expanding healthily by we enjoy today and we are excited to pursue our
10% yearly. ambitious growth agenda together with you.
While the ongoing trade war between US and China We also wish to express our deepest appreciation to our
may represent an area of concern for the business valued shareholders, customers, vendors and business
community, we believe the impact on our business associates for your unwavering support and continued
will be minimal as our industry is relatively resilient to confidence in the Group. We look forward to deepening
political and economic uncertainty. However, we remain our relationship with you for many years to come.
watchful of developments in this area and it is our hope
that business will be allowed to flourish freely without Lastly, we would like to express our thanks to our
sanctions being imposed. fellow board members for their invaluable guidance and
unparalleled commitment to take Top Glove to the next
In the dawn of a new Malaysia, we continue to be highly level of success.
supportive of the government’s anti-corruption drive,
to free Malaysia from all forms of corrupt practices, We have set ourselves very big goals which will certainly
towards a more business-friendly environment. We stretch us beyond the familiar. Indeed, the level of
also hope that the water crisis in Selangor will be fully transformative growth we are pursuing lies outside the
resolved expeditiously for the benefit of the rakyat and limits of our comfort zone. However, we believe that with
business communities. your loyal support and the indomitable spirit that Top
Glove has come to be known for, there is no dream out of
We also look forward to expanding our footprint into our reach and nothing we cannot achieve.
Vietnam, upon receiving approval from the investment
authority of Vietnam. Thank you.
While we are aware that challenges will always be TAN SRI DR LIM WEE CHAI DATO’ LEE KIM MEOW
present, our approach has always been to focus on what Executive Chairman Managing Director
is within our control, rather than external factors which Top Glove Corporation Bhd Top Glove Corporation Bhd
are not. As we continue to pursue internal improvement 31 October 2018 31 October 2018
initiatives in line with our Business Direction to produce
high quality gloves at an efficient low cost, I believe we
will be well-positioned to overcome any obstacles and
stay on course to achieve our business goals.

PERUTUSAN KEPADA PIHAK BERKEPENTINGAN &
PERBINCANGAN DAN ANALISIS PIHAK PENGURUSAN
LETTER TO STAKEHOLDERS : BAHASA MALAYSIA VERSION
KEHADAPAN PARA PIHAK BERKEPENTINGAN,

Tahun Kewangan 2018 (TK2018) merupakan satu lagi tahun yang menarik bagi Top Glove,
dengan pelbagai perkembangan positif.
Ia tahun penciptaan rekod untuk kami, di mana kami sekali lagi menyampaikan prestasi
kewangan cemerlang untuk tahun kewangan penuh 2018. Sementara masih berkembang
secara organik, kami juga telah menyimpulkan beberapa penggabungan dan pengambilalihan
yang membuka peluang sinergi kepada Kumpulan. Ini termasuk pengambilalihan Aspion
Sdn Bhd, yang telah membolehkan Top Glove muncul sebagai pengeluar sarung tangan
pembedahan terbesar di dunia dan Duramedical Sdn Bhd, yang membolehkan kami
mempelbagaikan campuran keluaran untuk termasuk produk penjagaan kesihatan
selain sarung tangan. Kilang pengeluaran kondom kami juga telah mula beroperasi, lalu
mengukuhkan rangkaian produk bukan sarung tangan kami. Di samping itu, kami telah
meningkatkan platform pengurusan sumber manusia selaras dengan pertumbuhan masa
depan kami. Sebagai pengiktirafan kecemerlangan perniagaan dan tadbir urus korporat
yang baik, kami juga telah memperoleh beberapa anugerah dan tersenarai dalam beberapa
indeks berprestij.
Dato’ Lee Kim Meow menerima sijil ISO 37001 Sistem Pengurusan Anti-Rasuah daripada SIRIM pada bulan Disember 2017 bagi
pihak Top Glove
TAHUN REKOD TERTINGGI Kami dengan sukacitanya telah mencatat satu lagi
tahun bersejarah dengan prestasi tahun kewangan
KEUNTUNGAN SELEPAS penuh terbaik, walaupun dalam persekitaran operasi
PENDAPATAN TAHUN yang mencabar.
CUKAI TAHUN PENUH
PENUH TERTINGGI TERTINGGI
Bagi TK2018, Top Glove sekali lagi memecah rekod
dengan mencatatkan Pendapatan Jualan tertinggi
RM4.2 RM438 pada RM4.21 bilion, mengatasi ambang RM4
bilion dan mewakili peningkatan sebanyak 23.6%
BILION JUTA
berbanding TK2017. Keuntungan Sebelum Cukai
juga mencatat jumlah tertinggi pada RM528.6 juta,
VOLUM JUALAN pelonjakan sebanyak 37.3% berbanding TK2017.
PENDAPATAN SUKU TAHUN PENUH
TERTINGGI Sementara itu, Volum Jualan (kuantiti dijual) mencapai
TERTINGGI
puncaknya dengan peningkatan 26% tahun-ke-tahun.
Pada TK2018, Kumpulan turut mencapai Pendapatan
RM1.2 49
BILION
tertinggi bagi satu suku kewangan dengan RM1.2 bilion
(4STK2018).
BILION
(4STK2018) SARUNG TANGAN

LETTER TO STAKEHOLDERS : BAHASA MALAYSIA VERSION (SAMB.)
Sementara itu, operasi kami di China dan Thailand

terus menyumbang secara positif kepada Kumpulan
dengan kapasiti tambahan dan peningkatan
kecekapan operasi yang timbul daripada penggunaan
yang lebih tinggi. Walaubagaimanapun, persaingan
di China semakin meningkat berikutan lebih
banyak pengeluar sarung tangan yang mematuhi
penguatkuasaan atau memindahkan operasi
pengeluaran mereka ke kawasan yang tidak diliputi
oleh penguatkuasaan negara yang tegas terhadap
pencemaran industri.
PERBINCANGAN DAN ANALISIS PENGURUSAN

Rangkaian produk sarung tangan Top Glove
Pendapatan tertinggi Top Glove sebanyak RM4.21
Keputusan positif Kumpulan dikaitkan dengan bilion pada TK2018 disokong dengan peningkatan
usaha penambahbaikan dalaman yang berterusan. permintaan bagi semua segmen sarung tangan, lalu
Khususnya, penggunaan teknologi baharu menekankan kepentingan untuk mengekalkan produk
menyumbang kepada peningkatan kualiti dan sarung tangan yang komprehensif dan campuran
kecekapan kos, serta mengurangkan keperluan tenaga keluaran yang seimbang, sejajar dengan permintaan
manusia. Tambahan lagi, peningkatan Pendapatan global. Khususnya, jualan sarung tangan pembedahan
Jualan disumbang oleh pertumbuhan permintaan meningkat sebanyak 76% berbanding TK2017,
yang kukuh merentasi semua segmen sarung tangan, termasuk sumbangan 5 bulan daripada Aspion dari
membuktikan keperluan sarung tangan sebagai alat tarikh selesai pengambilalihan pada April 2018.
penting dalam sektor perubatan, piawaian kesihatan
yang semakin ketat dan peningkatan kesedaran Peningkatan Volum Jualan sebanyak 26% berbanding
penjagaan kesihatan secara global. TK2017 berpunca daripada negara-negara maju
dan membangun, dengan peningkatan dicatat di
Harga bahan mentah sewaktu TK2018 pula semua rantau. Negara-negara membangun dimana
bercampur-campur. Harga purata susu getah asli penggunaan sarung tangan masih rendah tetapi
dinyatakan pada RM4.51/kg, turun 21.7% berbanding pantas meningkat, menyumbang sebanyak 72%
TK2017, manakala harga purata lateks nitril pula pertumbuhan pada Volum Jualan dengan pesanan
USD1.13/kg, naik 2.7% berbanding tahun kewangan besar untuk sarung tangan getah asli, sebahagian
sebelumnya. Namun, kami dapat mengimbangi besarnya disebabkan oleh peningkatan perbelanjaan
kenaikan harga lateks nitril dengan menaikkan dan kesedaran penjagaan kesihatan, ditambah pula
harga purata jualan. Kami juga bermanfaat daripada dengan aktiviti pemasaran sengit untuk menyokong
penurunan harga susu getah asli, dikaitkan dengan permintaan yang semakin meningkat. Volum Jualan
campuran keluaran seimbang kami yang terdiri pada Asia (kecuali Jepun) meningkat 58% sementara
daripada sarung tangan nitril dan getah asli. Top Glove Eropah Timur naik 39.6%. Timur Tengah dan Afrika
juga mampu mengurangkan impak lain termasuk mata pula, dimana permintaan semakin meningkat,
wang dolar Amerika Syarikat yang semakin lemah dan menunjukkan kenaikan pada Volum Jualan masing-
kenaikan tarif gas asli melalui pemindahan kos. masing sebanyak 38.7% dan 35.3% berbanding
TK2017. Sementara itu, Volum Jualan bagi pasaran
maju seperti Eropah Barat, terus meningkat walaupun
dengan peratusan yang kecil terutamanya bagi sarung
tangan pemeriksaan nitril.
Para belia syarikat yang menghadiri Sidang Kepimpinan Belia Top Glove 2018 yang diadakan dua tahun sekali

Sesi bergambar bersama ahli-ahli Majlis Pelabur Institusi Malaysia (IICM) sewaktu lawatan mereka ke Top Glove pada bulan
September 2018
Sarung tangan getah asli (berserbuk dan bebas Pertumbuhan permintaan yang kukuh juga membawa
serbuk) merupakan penyumbang tertinggi kepada kepada kadar penggunaan yang lebih tinggi, lalu
jumlah Pendapatan Jualan, dengan sumbangan 45% menghasilkan peningkatan pada kecekapan dan
sementara sarung tangan nitril menyumbang 40%. margin. Faktor-faktor ini serta inisiatif-inisiatif
Walaupun sarung tangan pembedahan hanya terdiri penambahbaikan dalaman memainkan peranan
daripada 2% campuran keluaran kami, sumbangan penting dalam mencapai Keuntungan Sebelum Cukai
Pendapatan Jualan segmen tersebut adalah sebanyak (PBT) tertinggi Top Glove serta EBITDA yang lebih
9% disebabkan harga jualan yang lebih tinggi. baik pada TK2018.
Volum Jualan mengikut rantau adalah seperti berikut:
PERBANDINGAN VOLUM JUALAN (KUANTITI) MENGIKUT RANTAU

Eropah Barat
TK18 vs TK17 Eropah Timur
35.8% TK18 vs TK17
39.6%
Asia
AMERIKA (kecuali Jepun)
UTARA TK18 vs TK17
EROPAH 58.0%
Amerika Utara
TK18 vs TK17 TIMUR
EROPAH
1.6% Jepun
BARAT
ASIA TK18 vs TK17
7.0%
AFRIKA
AMERIKA
LATIN Timur Tengah
TK18 vs TK17
Amerika Latin 38.7% OCEANIA
TK18 vs TK17
21.8% Afrika
TK18 vs TK17
35.3%
PENINGKATAN KUKUH BAGI NEGARA-NEGARA MEMBANGUN

Volum Jualan mengikut geografi bagi TK2018 adalah b) Campuran

keluaran mengikut Pendapatan
seperti berikut: Jualan bagi TK2018
Volum Jualan TK2018 mengikut geografi 1%

5% TPE/CPE
Vinil
TP
7% 3% 9%
Afrika Pembedahan
Africa
Jepun 40% Vin
Nitril
31%
8% Eropah Japan
Su
Timur
Tengah
Middle East
Po
11%
Amerika Latin America
Latin Po
19%
Asia ex Japan
Getah bebas Nit
serbuk
North America
15% 26%
Asia Getah berserbuk
(kecuali Jepun)
25% Europe
Amerika Utara Kami kekal optimis bahawa permintaan global bagi sarung
tangan akan terus meningkat pada masa akan datang, dan
menjangka pertumbuhan sekitar 10% setahun, kerana
Campuran keluaran mengikut Volum Jualan (Kuantiti sarung tangan merupakan antara barangan keperluan
Dijual) dan Pendapatan Jualan bagi TK2018 adalah dalam sektor penjagaan kesihatan yang tiada gantinya.
seperti berikut: Sarung tangan juga merupakan barangan pakai buang
yang digunakan sekali sahaja; maka permintaan baginya
a) Campuran keluaran mengikut Volum Jualan akan berulang. Penggunaan sarung tangan pula
dari TK2014 ke TK2018 dijangka bertambah disebalik piawain kebersihan yang
semakin meningkat dan pengawalan kesihatan yang
semakin ketat, seterusnya membuktikan keperluan bagi
50%
48% sarung tangan. Kesedaran yang semakin meningkat
46% tentang kepentingan penjagaan kesihatan serta
kemunculan ancaman kesihatan baru seperti H1N1,
40% selsema burung dan Ebola, juga menyumbang kepada
39%
keutamaan sarung tangan. Lanjutan daripada itu,
36% 36% peningkatan masyarakat berumur yang lebih senang
terdedah kepada penyakit dan memerlukan lebih
30% 32% 32% 31% perhatian kesihatan, juga akan menyumbang kepada
28% peningkatan penggunaan sarung tangan.
24%
Keputusan tekal kukuh Top Glove dikaitkan dengan
20%
20% 19% 20% 20% keberkesanan kepada inisiatif-inisiatif penambahbaikan
18% dalaman yang dilakukan secara berterusan dalam
beberapa kawasan berikut:
10% 10% 11% i) Utiliti
8% • Gas Asli
6% 6%
Demi menjimat tenaga gas, kami telah
0% 2% 2% 2% 2% 2% membuat pelaburan untuk elemen
pemanasan yang lebih cekap dan
penebat termal pemanasan khas, serta
TK2014 TK2015 TK2016 TK2017 TK2018 menggantikan logam dengan plastik
kejuruteraan. Sehubungan dengan itu,
Sarung tangan nitril Sarung tangan kami telah mengambil langkah untuk
Vinil / TPE / CPE meningkatkan peredaran udara panas dan
Sarung tangan getah Sarung tangan memaksimumkan pemulihan haba yang
berserbuk pembedahan
boleh digunakan dalam proses pengeluaran.
Sarung tangan getah bebas Pelepasan pembakaran sentiasa dipantau,
serbuk
sementara peralatan pembakaran kerap
menjalani penyelenggaraan bagi memastikan
kecekapan pembakaran yang konsisten.
Inisiatif-inisiatif ini telah membolehkan
kami mengurangkan kesan kos kenaikan
harga tarif gas sebanyak 23.5% yang telah
berkuatkuasa pada Januari 2018.
ii) Automasi dan digitalisasi

Kami
terus mengautomasikan operasi
yang membolehkan kami mengurangkan
pergantungan pada tenaga manusia dan kos,
serta kesilapan manusia. Ke arah Industri 4.0,
kami juga menumpukan perhatian kepada proses
digitalisasi untuk ketepatan data yang lebih baik
dan kebolehkesanan data yang besar.
iii) Pengurangan masa henti

Dengan pelaksanaan penyelenggaraan ramalan
dan pencegahan untuk jentera dan peralatan
kritikal, kami telah meminimumkan terjadinya
masa henti tidak terjadual dengan memastikan
Pelaburan dalam Penyelidikan dan Pembangunan (R&D) kesinambungan operasi, yang diterjemahkan ke
memainkan peranan penting dan sentiasa menjadi tunggak dalam produktiviti yang lebih tinggi.
utama Top Glove
iv) Peningkatan produktiviti
• Air Demi meningkatkan produktiviti, kami sedang
Projek-projek penjimatan air kami yang berusaha untuk meningkatkan kelajuan barisan
berterusan termasuk penuaian air hujan, pengeluaran dengan memberi tumpuan
kitaran semula air dan automasi bekalan dan kepada kelebihan kejuruteraan, struktur dan
kawalan air. Demi memastikan bekalan yang penambahbaikan mekanikal. Inisiatif-inisiatif lain
mencukupi untuk operasi harian, kami telah termasuk peningkatan kecekapan pemanasan
membuat pelaburan bagi Kitaran Rawatan dan pengeringan, perumusan kimia dan
Loji Osmosis (ROTP) yang merawat air pengendalian proses yang lebih baik, serta
kumbahan yang dilepaskan dari kilang-kilang membaikpulih barisan pengeluaran yang kurang
sekeliling, mengubahnya menjadi air bersih, berprestasi. Hasilnya, kecekapan pengeluaran
dan kemudian disalurkan semula ke kilang- bagi kilang sedia ada telah meningkat sebanyak
kilang untuk digunakan. Rawatan ini telah 12% pada TK18.
mengurangkan jumlah purata penggunaan air
bagi setiap sarung tangan sebanyak 15.7%.
PENCAPAIAN KORPORAT
• Elektrik
Inisiatif-inisiatif untuk mengurangkan Perkembangan organik
pembaziran elektrik termasuk menstabilkan
kualiti tenaga elektrik, melabur dalam Demi memastikan kami berada di kedudukan yang
peralatan yang lebih cekap dan menjalankan baik untuk memenuhi peningkatan permintaan global
penyelenggaraan rutin sistem pengedaran dan mencapai matlamat Fortune Global 500 kami, Top
elektrik. Glove akan terus berkembang secara strategik.
Butiran terperinci perkembangan kami adalah seperti

rajah berikut:
Kilang Negara Jenis sarung Bilangan barisan Kapasiti

tangan pengeluaran (keping setahun)
Semasa: 32 kilang sarung tangan Semua 648 barisan 60.5 bn
Perkembangan dalam proses:
F32 Fasa 1 (Awal 2019) Malaysia Nitril 22 barisan 2.2 bn
F32 Fasa 2 (Akhir 2019) Malaysia Nitril 12 barisan 1.2 bn
F33 Blok Baru (Awal 2019) Malaysia Nitril 12 barisan 1.2 bn
F5A Blok Baru (Akhir 2019) Malaysia Nitril 20 barisan 2.0 bn
F8A Fasa 1 (Awal 2020) Thailand Nitril/Getah Asli 32 barisan 3.2 bn
F40 Fasa 2 (Pertengahan 2020) Malaysia Nitril 22 barisan 2.2 bn
F41 Fasa 1 (Akhir 2020) Malaysia Nitril 12 barisan 1.2 bn
Jumlah perkembangan 132 barisan 13.2 bn
Jumlah menjelang 2020: 36 kilang sarung tangan 780 barisan 73.7 bn
Top Glove juga ingin memperluaskan operasi ke Vietnam dan telah memeterai perjanjian untuk memperoleh sebidang
tanah bagi pembangunan sebuah kilang yang dijangka memulakan operasi dalam tempoh 2 tahun akan datang. Di
samping itu, kilang pengeluaran kondom Top Glove telah mula beroperasi pada Julai 2018 dan sedang menunggu
pensijilan.
Perkembangan lain
Di samping itu, cadangan Kumpulan untuk menerbit

bonus sebanyak 1,280,229,124 saham biasa baru
Top Glove Corporation Bhd berdasarkan 1 saham
bonus bagi setiap saham yang dipegang pada tarikh
kelayakan telah diluluskan pada EGM bertarikh 10
Oktober 2018 dan telah selesai pada 29 Oktober 2018.
EGM tersebut juga meluluskan cadangan menerbit
jaminan bon boleh ditukar untuk mengumpul dana
bagi pembayaran balik pinjaman bank, serta pindaan
kepada Perlembagaan Syarikat untuk memudahkan
pengeluaran saham bonus bagi terbitan bonus.
Menekankan komitmen Kumpulan untuk

meningkatkan nilai pemegang saham, Lembaga
Pengarah mencadangkan dividen akhir sebanyak 5
Lawatan kehormatan H.E. Mr. Narong Sasitorn (ke-4 dari kiri), Duta sen sesaham, tertakluk kepada kelulusan pemegang
Thailand ke Malaysia di Menara Top Glove pada bulan September saham pada AGM yang akan datang pada Januari
2018. 2019. Ini akan membawa jumlah dividen FY2018
kepada 8.5 sen sesaham, peningkatan sebanyak 1.25
Pengembaraan pemerolehan: penggabungan, sen atau 17% berbanding TK2017, mewakili nisbah
pengambilalihan dan usaha sama pembayaran untung bersih sebanyak 50%.
Demi mencapai agenda perkembangannya, Top Sebagai pengiktirafan keatas keunggulan produknya,
Glove juga akan terus usaha untuk berkembang Top Glove telah menerima Anugerah Paling Inovatif
secara bukan organik melalui penggabungan dan 2018 dan Anugerah Kecemerlangan Eksport 2018
pengambilalihan, usaha sama serta pembangunan daripada Majlis Promosi Eksport Getah Malaysia
baru dalam industri yang berkaitan sebagai cara (MREPC). Tambahan pula, Top Glove dinamakan
yang lebih cepat dan cekap. Pada April 2018, kami antara Syarikat Terbaik untuk Bekerja di Asia 2018
telah selesai mengambilalih Aspion Sdn Bhd, antara oleh HR Asia. Top Glove turut tersenarai dalam Indeks
pengeluar sarung tangan pembedahan terbesar di Piawaian Global MSCI dan kekal tersenarai dalam
dunia, seterusnya menjadikan Top Glove pengeluar Indeks FTSE4Good Bursa Malaysia, sebagai bukti
sarung tangan pembedahan terbesar di dunia dan pertumbuhan Top Glove yang kukuh dan konsisten
memperbesarkan pangkalan pelanggan kami dengan serta tadbir urus korporat yang baik.
penambahan pada rangkaian sarung tangan perubatan
berkualiti tinggi dan kos efektif. Demi memperkukuhkan proses-proses sumber
manusia, Kumpulan juga telah membuat pelaburan
Selaras dengan rancangan perkembangan Top Glove untuk SAP SuccessFactors dalam mengubah platform
dalam mempelbagaikan produk perubatan lain, ia telah pengurusan sumber manusia, dengan tujuan untuk
memperoleh Duramedical, sebuah syarikat pengeluar menarik dan rekrut bakat yang betul.
produk pembersihan gigi dan pita senaman. Ditambah
lagi dengan kilang kondomnya, ini menandakan MEMBINA PERNIAGAAN YANG BAIK
usaha permulaan Kumpulan dalam mempelbagaikan
perniagaan ke produk getah yang berkaitan, yang mana Kami sedar bahawa kewajipan kami untuk mencipta
Kumpulan harap akan terus berkembang dari semasa nilai tidak hanya melangkaui pemegang saham
ke semasa. terdekat kami tetapi masyarakat sekeliling operasi
kami. Sehubungan itu, walaupun kami menetapkan
Selain itu, Top Glove telah memperoleh Eastern Press dan meneruskan matlamat yang lebih besar untuk
Sdn Bhd, sebuah syarikat pengeluar bahan pencetakan mengembangkan perniagaan kami, pertimbangan
dan pembungkusan, bagi meningkatkan koordinasi utama adalah untuk memastikan pertumbuhan kami
rantaian bekalan pembungkusan Kumpulan serta tidak datang dengan membawa padah kepada
pengawalan pada kualiti dan kos. masyarakat mahupun alam sekitar.
Top Glove juga telah menubuhkan usaha sama majoriti Laporan Kemapanan kami yang membincangkan 3 tiang
bersama Fimatec untuk menghasilkan buburan mapan yang terdiri daripada Alam Sekitar, Sosial dan
kalsium karbonat tanah (bahan mentah) untuk Ekonomi boleh didapati di muka surat 48 hingga 59.
digunakan dalam pengeluaran sarung tangan, untuk
kecekapan kos yang lebih baik.

KEMAJUAN PENYELIDIKAN DAN Sebuah loji penyebaran kimia telah dibangunkan untuk
PEMBANGUNAN (R&D) DAN TEKNOLOGI penyebaran kimia seperti agen pengukuhan berfungsi,
penstabil penyebaran getah dan agen pengawetan.
Pusat R&D kami diamanahkan untuk memandu inisiatif Ini membuka peluang kemungkinan R&D untuk
R&D dan inovasi di Top Glove. Sejak penubuhannya mengubahsuai formasi sarung tangan lebih cepat
pada tahun 2013, ia telah berkembang pesat dari demi memenuhi permintaan pasaran dengan kos yang
segi kemudahan dan tenaga kerja, menekankan cekap, sambil meningkatkan konsistensi kualiti sarung
kepentingannya di Top Glove. Kini, jabatan ini tangan dan sejurusnya mengurangkan masa untuk
mempunyai 151 jumlah tenaga kerja (pada 31 Ogos meningkatkan produk sarung tangan.
2018) termasuk 86 orang penyelidik yang terdiri
daripada 16 pemegang PhD, 19 pemegang ijazah Ke arah automasi dan digitalisasi, kami juga telah
Sarjana dan 47 pemegang ijazah Sarjana Muda. menghasilkan sebuah sistem pemeriksaan dalam talian
Pelaburan juga telah dibuat untuk melengkapkan bagi sarung tangan yang rosak. Sistem ini berfungsi
Pusat R&D dengan peralatan analitik dan pencirian untuk mengurangkan pergantungan tenaga pekerja dan
terkini seperti SEM-EDX, HPLC dan GCMS. meningkatkan kecekapan proses pemeriksaan. Sistem
simulasi robotik R&D kami juga mempercepatkan
Inisiatif-inisiatif R&D kami telah membolehkan idea proses penyelidikan melalui sistem pengaturcara yang
dan konsep baru diterjemahkan ke dalam produk yang membolehkan kami mensimulasikan pemprosesan
berdaya maju untuk pelanggan kami seperti sarung produk sarung tangan dalam pelbagai jenis parameter.
tangan pemeriksaan nitril GripPlus™, sarung tangan
dwi-tekstil CPE dan sarung tangan nitril lembap tanpa Selaras dengan tanggungjawab kami terhadap alam
accelerator. Usaha juga telah dibuat untuk memastikan sekitar, kami telah mengguna konsep ‘Tiada Sisa,’ yang
produk baru memenuhi arahan dan peraturan melibatkan pengurusan proses untuk mengelakkan,
antarabangsa yang ketat. Pelaburan juga telah dibuat memelihara, memulih dan menggunakan semula sisa
untuk mendapatkan pensijilan produk seperti 510 (k) untuk tujuan lain. Dengan itu, kami telah menghasilkan
FDA, ujian ubat kemoterapi, ujian Draized-95 yang agen pembersihan mesra alam untuk mencuci bekas
diubah suai dan lain-lain. Kilang-kilang Top Glove juga acuan, yang menggunakan air buangan dihasilkan
disijilkan ISO9001 dan ISO13485 untuk memastikan daripada proses pembuatan sarung tangan.
produk kami memenuhi keperluan GMP. Top Glove Proses inovatif ini bukan sahaja mengurangkan kos
akan terus memberi tumpuan kepada inovasi produk pengeluaran tetapi juga terbukti lebih berkesan untuk
untuk memastikan kami kekal relevan dan berdaya memanjangkan hayat acuan tersebut.
saing di arena global.
Top Glove bekerjasama dengan peguam-peguam dan
Ke arah memenuhi keperluan pasaran, kami juga ejen hak milik intelektual (IP) untuk menguruskan proses
akan menjayakan inovasi pemprosesan. Ini penting pemfailan dan permohonan IP, ke arah melindungi hak
terutamanya dalam industri kami di mana kemajuan milik intelektual dengan betul. Setakat akhir TK2018,
teknologi yang pesat, piawaian industri yang berkembang kami berjaya memfailkan 84 paten dan aplikasi paten
dan harga bahan mentah yang tidak menentu telah di peringkat tempatan dan antarabangsa termasuk 22
meningkatkan persaingan antara pemain pasaran. paten diberi. Top Glove juga telah memfailkan 42 tanda
dagangan dalam pelbagai kelas dan 5 reka bentuk
Pada 2015, Top Glove menubuhkan perkhidmatan perindustrian peringkat tempatan dan antarabangsa.
pembaikan acuan sarung tangan dalam syarikat untuk
meningkatkan kecekapan kos. Dimana pembaikan
acuan sarung tangan sebelum ini dilakukan oleh
sumber luar, kini kami boleh lakukannya sendiri
seterusnya menijmatkan dari membeli acuan baru serta
masa yang diperlukan untuk menghantar pembaikan
ke luar. Top Glove juga telah melabur sebanyak RM7
juta untuk mereka satu kaedah inovatif bagi pembaikan
acuan secara gilap semula, seterusnya mengurangkan
keperluan untuk membeli semula acuan baru dimana
kosnya berjumlah RM2 juta sebulan. Setakat ini,
sebanyak tujuh tanur (kemudahan membaiki acuan)
telah ditubuhkan, lima daripadanya di Malaysia dan
dua lagi di Thailand.
Lawatan dari Kelab 30% Malaysia: Puan Fatimah Merican (ketiga

dari kiri) and Datin Sunita Rajakumar (kelima dari kiri) bersama
ahli-ahli Lembaga Nominasi dan Saraan.

Top Glove dianugerahi Anugerah Merit untuk Pembentangan Tadbir Urus Korporat Paling Meningkat dan Kecemerlangan Industri untuk
Pengeluaran oleh Minority Shareholders Watch Group
MASA DEPAN PENGHARGAAN
Walau membentangkan pelan perkembangan kami Bagi pihak Lembaga Pengarah, kami ingin mengucapkan
untuk tahun-tahun yang akan datang, Top Glove sedar ribuan terima kasih kepada para Top Glovers untuk tahap
akan potensi cabaran termasuk kenaikan kos dan dedikasi mereka, yang tiada tandingannya. Sumbangan
persaingan yang semakin sengit. Namun, kami tetap anda telah menghasilkan kejayaan gemilang yang kami
yakin pada jangkaan industri dan permintaan yang nikmati hari ini dan kami gembira dapat berkongsi
akan terus berkembang dengan sihat sebanyak 10% pengembaraan untuk mencapai agenda pertumbuhan
setahun. Syarikat bersama-sama anda.
Sementara perang perdagangan antara Amerika Kami juga ingin meluahkan penghargaan kepada
Syarikat dan China mungkin dianggap sebagai faktor para pemegang saham, pelanggan, vendor dan rakan
keprihatinan kepada komuniti perniagaan, kami perniagaan kami atas sokongan teguh dan keyakinan
percaya kesan terhadap perniagaan kami adalah berterusan anda terhadap Kumpulan. Kami harap
minimum kerana industri kami mampu bertahan dapat memperkukuhkan lagi hubungan kita pada
disebalik ketidakpastian politik dan ekonomi. Namun, tahun-tahun yang akan datang.
kami akan mengawasi dengan teliti perkembangan
mengenai perang perdagangan ini dan harap bahawa Akhirnya, kami ingin mengucapkan terima kasih
perniagaan akan terus berkembang dengan bebas kepada para ahli Lembaga Pengarah atas bimbingan
tanpa dikenakan sekatan. dan komitmen anda dalam usaha untuk memajukan
Top Glove ke peringkat seterusnya.
Pada fajar Malaysia baru, kami terus menyokong usaha-
usaha kerajaan demi membebaskan Malaysia dari Dalam setiap penetapan matlamat yang besar, akan
semua amalan rasuah, ke arah persekitaran yang lebih datangnya cabaran. Namun, kami yakin dengan
mesra perniagaan. Kami juga harap krisis air di Selangor sokongan daripada pasukan yang berdedikasi dan
dapat diselesaikan sepenuhnya dengan segera untuk semangat Top Glove, kami berada di kedudukan yang
kebaikkan rakyat dan komuniti perniagaan. baik untuk mencapai matlamat-matlamat ini.
Kami juga ingin memperluaskan jejak kami ke Vietnam, Terima kasih.

setelah mendapat kelulusan daripada pihak berkuasa
pelaburan Vietnam. TAN SRI DR LIM WEE CHAI DATO’ LEE KIM MEOW
Pengerusi Eksekutif Pengarah Urusan
Walau kami sedar bahawa cabaran akan selalu ada, Top Glove Corporation Bhd Top Glove Corporation Bhd
pendekatan kami adalah dengan sentiasa memberi 31 Oktober 2018 31 Oktober 2018
tumpuan kepada perkara-perkara yang berada dalam
kawalan kami, berbanding faktor-faktor di luar kawalan
kami. Selaras dengan Arah Perniagaan kami untuk
menghasilkan sarung tangan berkualiti tinggi dengan
kecekapan kos yang rendah, kami percaya dengan
inisiatif-inisiatif penambahbaikan dalaman, kami akan
berada dalam kedudukan yang baik untuk mengatasi
sebarang halangan dan kekal ke arah untuk mencapai
matlamat perniagaan kami.

致权益持有人及管理层讨论与分析的信函
LETTER TO STAKEHOLDERS : MANDARIN VERSION
诸位权益持有人，
2018财务年对于顶级手套是非常振奋的一年，这一年有多项积极的发展。
对集团而言，2018财务年再次为集团创下另一个记录，取得了卓越的财务业
绩。集团正稳步地有机扩展，同时也成功完成了多项并购活动并为集团带来
了协同机会。这包括了对稳利私人有限公司及DURAMEDICAL私人有限公
司的收购，分别使集团成为了全球最大的手术手套制造商以及让集团进一
步迈向医疗保健相关产品的领域。我们的安全套工厂也已开始营运，增强了
集团的非手套产品系列。此外，集团亦提升了人力资源管理平台，以配合未
来的增长宏愿。集团卓越的经营认可及良好的公司治理，为集团获得了多个
奖项，同时也被列入数个著名的指数。
顶级手套2017/2018年最佳员工得奖者
创下新高纪录的一年顶级手套于2018财务年的营业额达马币42.1亿，成功突
破了40亿的门槛，与2017财务年相比增长了23.6%。此
外，税前利润亦处于马币5亿2860万的新高，相比2017财
最高全年净利润务年大幅度上升了37.3%，双双创下历史新高。同时，销
最高全年营业额
售量达到顶峰，与上一财务年相比增长了26%。于2018
财务年，集团以马币12亿成功为其第4季度创下史上最高
的季度营业额。
马币42亿马币
4亿3800万集团卓越的业绩归功于内部不断地追求改善，特别是应
用先进技术，提升产品质量及有效地改进成本效率，同
时亦减少了人力的需求。与此同时，营业额的提升主要是
因为各类手套需求量强劲增长，并且凸显手套于医疗行
最高季度营业额最高全年销售量业中不可或缺的地位、日益严格的保健需求及全球医疗
保健意识的提升。
马币12亿 490亿在2018财务年，集团的原材料价格有起有落。与2017财

务年相比，天然乳胶的价格下滑了21.7%至平均每公斤马
(2018财务年第4季度) 只手套币4.51，而丁腈乳胶的价格则处于上升趋势，增长了2.7%
至平均每公斤美元1.13。然而，集团能通过提高手套的平
均售价，抵消丁腈乳胶价格的上升。基于集团均衡的丁腈
及乳胶产品组合，天然乳胶价格的下降亦为集团带来了
集团非常荣幸能在充满挑战的市场环境中创下了历史新益处。同时，顶级手套亦有能力通过成本转嫁，减轻逆境
高，取得最佳的全年业绩。所带来的影响，其中包括了美元的贬值及天然气关税的
增长。

LETTER TO STAKEHOLDERS : MANDARIN VERSION (继续)
丹斯里林伟才博士及潘斯里董秀美于华人农历新年的庆祝晚宴 F15 慈善事业（帮扶贫困农村）
与此同时，位于泰国及中国的业务持续地为集团带来积及卫生意识提升，再加上激烈的营销活动以应付新兴市
极的贡献，通过新增的产能及更高的使用率使营运效率场的需求量。亚洲地区（日本除外）的销售量提升58%，
提高。然而，随着中国的竞争日益激烈，许多手套制造商而东欧则增长39.6%。与2017财务年相比，中东地区及非
遵守法规或将其生产业务搬迁至不受该国对污染行业有洲地区的需求量明显开始增加从而使销售量处于上升趋
着严厉执法的地区。势，分别为38.7%及35.3%。与此同时，在西欧等发达市
场的销售量逐渐上升，尤其为丁腈检验手套，尽管其上升
的比例较小。
管理层讨论与分析
乳胶手套（有粉及无粉）占了总营业额最高的百分率，即
顶级手套2018财务年的营业额达至马币42.1亿，主要因 45%；而丁腈手套占了营业额的40%。虽然手术手套仅占
为各种手套需求量的增长，凸显了维持全方位手套系列了产品组合的2%，基于销售价格较高，而致使其营业额
及均衡产品组合的重要性，并与全球需求量保持一致。占据了总营业额的9%。
值得一提的是随着稳利的加入，与2017财务年相比，手
术手套的销售量提升了76%，包含了自2018年4月份并购在手套强劲的需求量下以致于手套使用率提高，从而提
稳利以来对集团5个月的贡献。升效率及利润率。加上集团于内部针对性的改进措施，有
助于顶级手套于2018财务年取得有史以来最高的税前利
2017财务年销售量的26%增长来自于发达及发展中国家润及营运盈利。
的各个地区。发展中国家的手套需求量相对较低但正迅
速增加，销售量迅速上涨并占据了总增长数额的72%，而我们的销售量根据地区分类如下：
大部分订单来自乳胶手套。这主要因为医疗支出增加以
销售量根据地区分类比较
西欧
FY18 vs FY17 东欧
35.8% FY18 vs FY17
39.6%
亚洲（日本除外）
NORTH FY18 vs FY17
AMERICA 58.0%
北美洲 EASTERN
FY18 vs FY17 EUROPE
1.6% WESTERN 日本
EUROPE FY18 vs FY17
ASIA
7.0%
AFRICA
LATIN
AMERICA 中东
FY18 vs FY17
拉丁美洲 38.7% OCEANIA
FY18 vs FY17
21.8% 非洲
FY18 vs FY17
35.3%
于发达国家的强劲增长

2018财务年，根据地理分布的销售产品分类如下： b) 2018财务年产品组合营业额
2018财务年根据地理分布的销售量 1%
5% TPE手套/CPE手套
7% 3% PVC手套
日本
非洲 Africa9%
手术手套
40%
31%
8% 欧洲 Japan 丁腈手套
中东
Middle East
11%
拉丁美洲 Latin America
Asia ex Japan
19%
无粉乳胶手套
North America
15%
26%
亚洲（日本除外）
25% Europe 有粉乳胶手套
北美洲
由于手套是医疗行业中不可或缺的物品，且目前尚无
2018财务年，我们的销售产品组合（数量）及营业额替代品，我们坚信未来全球手套需求量将持续稳步上
如下：升，并预计每年大约10%的增长率。此外，手套属于一
次性用品，同时，随着卫生标准不断地提高及卫生条规
a) 2014财务年至2018财务年销售产品组合（数量）逐渐严格并强制性使用手套，手套的使用量亦有望提
升。H1N1 、禽流感和伊波拉病毒等健康威胁的出现使
50%
人们逐渐意识医疗保健的重要性，而防范的第一步即是
48% 开始使用手套。此外，人口老龄化使得人们较易被感
46% 染疾病并需要更多的医疗照顾，这大大提升了手套使用
量。
40% 39%
顶级手套稳定和强劲的表现凸显了集团内部于以下领域
36% 36% 进行持续性的发展措施：
30% 32% 32% 31% i) 基础设施费用

28%
24% • 天然气
为了高效节能天然气，我们将资金投入于更高

20% 效的加热元件及特殊的隔热材料，并使用工程
20% 19% 20% 20%
18% 塑料替代金属。此外，我们亦改善热空气循
环，并以最大限度地回收在生产过程中所产生
10%
的热能。为了确保一致的燃烧效率，我们观察
10% 11% 燃烧过程中的排放物，也定期为燃烧设备进行
8% 维修。这减轻了天然气价格于2018年1月起上
6% 6%
涨23.5%所带来的成本影响。
0% 2% 2% 2% 2% 2%
• 水
目前集团进行节水项目包括了雨水收集、水源

FY2014 FY2015 FY2016 FY2017 FY2018 循环和自动化水源供应及操控。为了确保有足
够的水源供应以应付日常操作，集团建立逆渗
PVC手套 / TPE手套 / 透处理厂（ROTP），首先处理由周围工厂所
丁腈手套
CPE手套排放的废水，接着转化为清水，再引回工厂重
有粉乳胶手套复使用。这使每只手套的手套平均耗水量减少
手术手套
了15.7%。
无粉乳胶手套
• 电
集团减少电源流失的措施包括了稳定电力质

量、投资更高效的设备及定期维修配电系统。

F15 参加市政府举办的长跑活动泰国员工参与于泰国泼水节期间的庆祝活动
ii) 自动化及数据化 iv) 提升生产率

集团持续将其业务自动化，以减少对人力的依为了提升生产力，集团专注于工程、结构及机械
赖、改善成本及减少人为过失。此外，随着集团的突破性改进，以提高生产线速度。除此之外，
朝工业4.0迈进，集团专注于过程数据化以提高数其它举措包括提高加热及烘干的效率、更好的化
据准确性及大数据的可追溯性。学配方及流程控制，以及对表现不佳的生产线进
行检修。固此，现有工厂的生产力在2018财务年
iii) 减少停机增长了12%。
全面地对重要的机械及设备实施预测性及预防性
的维修措施，以最大限度地降低了突发停机的次企业里程碑
数，从而确保持续操作并提升生产力。
有机扩展
为了确保集团有能力满足全球庞大的手套需求量及实现
集团列入《财富》世界500强的宏愿，顶级手套将继续
寻找扩展的机会。
我们的扩展蓝图如下：
顶级手套有机的扩展计划
工厂国家手套种类生产线数量年产量（只）
目前: 32间手套工厂所有 648 条 605 亿
扩充计划：手套
第32厂首阶段（2019年初）马来西亚丁腈 22 条 22 亿
第32厂第二阶段（2019年末）马来西亚丁腈 12 条 12 亿
第33厂新楼（2019年初）马来西亚丁腈 12 条 12 亿
第5A厂新楼（2019年末）马来西亚丁腈 20 条 20 亿
第8A厂首阶段（2020年初）泰国丁腈/乳胶 32 条 32 亿
第40厂首阶段（2020年中）马来西亚丁腈 22 条 22 亿
第41厂首阶段（2020年末）马来西亚丁腈 12 条 12 亿
总扩充 132 条 132 亿
截至2020年：36间手套工厂 780 条 737 亿
顶级手套计划将业务扩展至越南，并签订了收购土地的合约，用于建设工厂，而此工厂预计在未来两年内投入运
作。与此同时，顶级手套安全套生产设施已于2018年7月投入生产，目前处于等待认证的阶段。

于收购方面：并购与合资研发与技术的进步
为了实现“顶级梦”，顶级手套将通过并购及投资于相我们的专业研发中心负责推动顶级手套的研发及创新计
关行业，持续有机地扩展，以便更快速及更有效地扩大划。自2013年成立以来，此中心的设施及人力方面迅
业务。于2018年4月，顶级手套完成了对稳利集团（一速的扩张，凸显研发对顶级手套的重要性。该研发团队
家全球最大手术手套生产商之一）的收购，使集团成为总人数为151名（截至2018年8月31日），目前有86 名
了全球最大的手术手套制造商并为其扩大的客户群提供研究人员，包括了16名博士、19名硕士和47名学士学
了更优质及更具成本效益的医疗手套产品系列。位。此外，集团也投入资金以提供研发中心最新的分析
和表征仪器，如SEM-EDX、HPLC机GCMS。
配合集团进一步地多元化其医疗产品，我们亦收购了
Duramedical私人有限公司（一家制造牙科卫生产品我们的研发计划能让新的想法及概念转化为可推出市场
及运动带的公司），加上新增的安全套工厂，标志着集的产品，如： GripPlusTM丁腈检查手套、 CPE双纹理
团开始进军其它橡胶相关的业务，这也是集团期许的发手套及无增速剂的潮湿丁腈手套。集团亦努力确保新研
展目标。发的产品符合严格的国际指令及法规。此外，集团也投
资在产品认证，以获得FDA’s 510（k），化疗药物测
此外，为了让顶级手套得以改善其供应链协调，以及为试，改良的Draized-95测试等等的认证。顶级手套也
手套包装材料提供更好的成本和质量管理，集团亦收购通过了ISO9001及ISO13485的认证，以确保我们的产
了东方印刷有限公司（一家印刷及包装材料的制造商）。品符合了GMP的要求。顶级手套将持续专注于产品创
新，以确保集团得以在全球舞台上保持相应性及竞争能
不仅如此，为了提升成本效益，顶级手套与Fimatec达力。
成了合资企业，主要生产研磨碳酸钙浆料（一种用于手
套制造过程的原料）。为了保持市场反应，我们也正追求过程创新。因迅速的
技术进步、不断发展的工业标准及不稳定的原材料价格
其他发展已明显增加了市场上的竞争，这对于此行业而言尤为重
要。
此外，集团亦提出1送1比例发行红股的建议，于2018
年10月10日召开的股东特别大会上提呈与批准，并于 2015年，顶级手套推出了一个内部手模维修服务，以
2018年10月29日完成。此股东特别大会亦通过了一项提升该领域的成本效益。相比前段日子，手模的维修交
债券发行协议，以筹集资金偿还银行借款，以及修改公于外包商，而如今集团内部能够完成这项工作，得以
司章程以促进发行红利的红股。省下购买新手模的费用及将手模送往维修所需的时间。
顶级手套亦投资了约马币700万，开发一种再生产的方
为了实现对股东的承诺，董事会建议派发每股5仙的终式修复手模，从而减少了购买新手模的需求，并降低了
期股息，而此建议将于2019年1月召开的股东常年大会每月马币200万的成本。目前为止，已设立了7个手模
中提呈与批准。这将使全年总派息为8.5仙，相比上个维修设施，其中五个位于马来西亚，另两个位于泰国。
财务年增长了1.25仙，而净利润派息比率则为50% 。
集团成立了一家化学分散剂厂，作为内部的化学分散用
顶级手套获得了由马来西亚橡胶出口促进会途，如：功能化增强剂、乳胶分散稳定剂和固化剂。该
（MREPC）颁发的2018年最具创新奖及2018年出口卓工厂能快速改良手套配方，以有效的成本满足市场需
越奖，以表彰其卓越的产品。此外，顶级手套也被HR 求，同时提升手套一贯性的质量，并缩短手套产品的交
Asia 评为2018年亚洲最佳公司之一。另外，顶级手套货时间。
也被纳入MSCI全球标准指数，并保持于富时4Good
指数，这全都归功于其强劲，持续增长和良好的公司治迈向自动化及数据化的过程中，集团还发明一个在线缺
理。陷手套检测系统。这有助于减少对于人力的依赖并提升
手套检验过程的效率。研发中心的机械人仿真系统也通
为了进一步加强其人员流程，集团也投资于SAP 过编程系统加速研究过程，以模拟不同参数的手套产品
SuccessFactors以便改善其人力资本管理（HCM）平制造过程。
台，以吸引及引进合适的人才。
为了符合集团对环境的责任，集团采纳了“零废弃物”
的概念，在管理过程中防止、保存、回收及再使用其废
建立一个良好企业弃物于其他用途。考虑这一点，集团研发了以在手套制
造过程中产生的废水制造而成的洗涤清洁剂以在线洗涤
集团时刻铭记我们的责任，不仅仅是为我们的股东带来手模。这创新的过程不仅降低了生产成本，也证明了可
效益，更为我们的社会带来更好的发展。因此，即使以更有效地延长手模的保质期。
我们制定业务扩展及追求更大的目标，最主要的考量还
是确保集团的发展不会对社区或环境带来负面的影响。顶级手套与经验丰富的知识产权律师和代理商合作，以
管理知识产权申请和申请流程，以妥善保护其知识产
集团的可持续发展声明中提到了我们对环境、社会及经权。截至2018财务年，集团成功于本地及国际提交了
济方面的三大可持续发展支柱的职务，请参考第48至 84项专利及专利申请，其中包括了22项授权专利。此
59页。外，集团亦于本地及国际提交了42个多级别商标及5个
工业设计。

顶级手套团队为了2018年Bursa Bull Charge慈善益跑整装待发
展望未来感言
虽然集团能预计未来几年的增长，管理层对未来可能面我谨代表董事会感谢顶级手套伙伴们无私的奉献精神。
临的挑战保持警觉，包括成本提升及竞争加剧。尽管如您积极的贡献促成了集团今天亮眼的成绩，我们很高兴
此，我们仍对行业前景充满信心，手套需求量将每年以能与您共同实现我们伟大的发展议程。
10％健康地增长。
我们希望借此机会向我们尊贵的股东、客户、供应商及
中美之间的贸易战也许是商业界关注的一个焦点，但我商业伙伴表示最深切的谢意，感谢您们对本集团一路以
们认为，此战对我们业务的影响微乎其微，因我们的领来坚定的支持和持续的信心。我们期望在未来的日子里
域与政治及经济的关联不大。然而，我们仍时时关注此与您有着更进一步的关系。
领域的发展并希望在没有实施制裁的情况下，企业能够
自由蓬勃发展。最后，我们也衷心感谢董事会成员宝贵的指导和承诺，
带领顶级手套迈向成功。
展望一个全新的马来西亚，我们继续全力地支持政府的
反腐运动，使马来西亚摆脱各种形式的腐败行为，迈向我们为集团设立了庞大的目标，这无疑超越集团一般的
更加商业化的环境。此外，我们也希望雪兰莪的水供危目标。实际上，我们追求的变革性增长水平超出了我们
机能迅速解决，以为人民和商界带来益处。的舒适范围。然而，我们坚信凭着您们衷心的支持和顶
级手套一直以来不屈不挠的精神，没有我们无法实现的
集团也希望在获得越南投资当局的批准后，将其足迹扩梦想，亦没有我们无法达成的目标。
展至越南。
谢谢。
虽然我们意识到挑战时时存在，但我们始终关注于我们
所能控制的范围内，而非无法掌控的外来因素。随着集丹斯里林伟才博士拿督李金谋
团持续推行内部改善措施，并配合集团的商业方针：以执行主席董事经理
低成本生产高质量手套，集团相信我们将有能力克服种顶级手套集团顶级手套集团
种障碍，坚持不懈地往我们的商业目标迈进。 2018年10月31日 2018年10月31日

SUSTAINABILITY:
THE WAY FORWARD
At Top Glove, creating value through
sustainable practices ranks high on our
corporate agenda.
We’ve always believed in doing

well by doing good and remain
committed to managing our
business in a way that respects
and contributes positively to
the environment, resources
and greater community.
SUSTAINABILITY STATEMENT
MESSAGE FROM THE EXECUTIVE

CHAIRMAN
Dear Fellow Stakeholders,
Welcome to our Sustainability

Statement for FY2018, which
builds on our maiden report
issued in FY2017. In line with
our commitment to continuous
improvement, I am pleased to
note we have stepped up both our
sustainability practices as well as
efforts to encompass broader and
more in-depth reporting.
At Top Glove, we understand that our business does As a growing and dynamic company, we remain
not operate in a vacuum. Our activities have the mindful that it is not just about selling more gloves but
ability to impact lives and the communities we serve. doing so in a way that respects both people and planet.
As a corporate citizen, more so as an industry leader, We believe it is not a right but a privilege for us to do
we have a tremendous responsibility to ensure we business in society, and count it an honor to be a part
impact our world positively. Hence, stewardship of of creating a better future and leaving a positive legacy
our environment, resources and community is a for the world we work, play and live in. Not just for us
responsibility we take very seriously. but for future generations to come.
In preparation for our maiden Sustainability Report in Our pursuit of sustainability is an ongoing journey, for
FY2017, we embarked on a materiality assessment with which we can never say that we have truly arrived.
an independent consultancy. It was a thorough process AccordingIy, we assure you that we will keep raising
during which we engaged key internal stakeholders to the bar and asking ourselves how we can do better,
identify sustainability issues for the organisation under to ensure that we continue to meet the high-quality
our 3 pillars of sustainability: Environmental, Social and standards that you have come to expect of Top Glove.
Economic. These issues have since been validated
and approved by the Board and are depicted in our
Materiality Matrix on page 49. TAN SRI DR LIM WEE CHAI
Executive Chairman
As with FY2017, Environmental and Social themes Top Glove Corporation Bhd
remain high priority indicators for us in FY2018.
Accordingly, throughout this report, we present metrics
reporting on our performance and progress towards
our sustainability goals in terms of the material matters
subsumed under these two important categories. As
we progressively deepen our reporting efforts, we have
also identified content for the Economic aspect as well.

(CONT’D)
Materiality Matrix for Top Glove

5
Environmental
A Emissions
G
B Waste & Effluent
4
C Water Management
M D Energy Efficiency
External Stakeholders
A J
B
H Social
3 I
O E E Supply Chain
P K CD F Diversity
2 Q G Compliance
F L N
H Labour Practices
I Human Rights
J Corruption
1
K Product Services Responsibility
L Security Management
M Occupational Health & Safety
0 N Talent Management
Economical
0 1 2 3 4 5
Internal Stakeholders
O Procurement Practices
P Community Investment
Q Indirect Economic Impact
Note: All information mentioned is based on Malaysian operations only unless stated otherwise
ENVIRONMENTAL ii. Environmental Management System (EMS)
We believe environmental sustainability is as ALL FACTORIES

important as business sustainability. As the world’s MAINTAIN
largest manufacturer of gloves, a foremost business
ENVIRONMENTAL
priority is to responsibly manage our carbon footprint
to which end, we have undertaken several initiatives MANAGEMENT
in the following areas: SYSTEM BASED ON
ISO14001 FRAMEWORK
ENVIRONMENTAL MANAGEMENT AND
COMPLIANCE Three
of our manufacturing plants (Factory
12 in Klang, Factory 5 and 23 in Ipoh) are
i. A Robust Environmental Policy ISO14001:2015 EMS certified and we continue to
evaluate the suitability of our remaining facilities
for future certification. We target to certify another
3 factories in 3 years as the duration for the
An extract from certification process is extensive. In tandem, for
THE TOP GLOVE ENVIRONMENTAL POLICY 2018 all non-certified factories, Top Glove maintains an
EMS based on the ISO14001 framework as well
as industry best practices, thereby ensuring a
To comply with all relevant standardised and systematic workflow throughout
regulatory, statutory and all areas of our operations.
applicable requirements.
The efficiency and environmental performance of
the EMS is continuously evaluated and improved
To proactively prevent on yearly, to ensure we maintain our certification
environmental pollution via and update/upgrade accordingly based on the
an established Environmental ISO requirement. Other standard operating
Management System (EMS). procedures throughout our manufacturing sites
are assessed through monthly spot-checks and
annual internal audit programs conducted in
To implement efficient preparation for official certification/surveillance
environmental initiatives audits by external parties, such as SIRIM.
promoting sustainability.
To systematically promote and

provide education and training
on environmental protection and
responsibilities across all levels
within the Company.
(CONT’D)
In 2018, Top Glove generated approximately

UP TO 0.092 kg of hazardous waste per carton of gloves,
RM2 MILLION primarily end products from the wastewater
treatment processes. Moving forward, we aim to
INVESTED IN IETS FACILITIES maintain the average hazardous waste generated.
W
e are actively exploring innovative technologies to v. Product Innovation
improve our existing facilities, which range from the
upgrading of existing water recycling processes to
the automated sampling and monitoring of effluent
discharges. RM150,000
INVESTMENT IN R&D FOR
iii.
Compliance with Malaysian Department of DEVELOPING GREEN
Environment requirements
PRODUCTS
Effluent Discharges
To ensure we continue managing our waste well
as our operations expand, a total of RM10 million
has been invested in R&D for product innovation,
99% COMPLIANCE RM150,000 of which is specifically for developing
green products.
ACHIEVED BY ALL FACTORIES
In
FY2018, Top Glove achieved 99% compliance in BIODEGRADABLE
terms of effluent discharges amongst all factories.
On-going efforts are in place to ensure our factories (ACCELERATOR-FREE)
remain compliant such as regular training programs GLOVES AVAILABLE IN FY2019
for employees, as well as more automation and
digitalisation initiatives, which include an online
monitoring system that enables us to keep track In a move towards preserving the environment,
of our effluent discharge parameters at any given we have also developed the new “BioGreen”
moment. Biodegradable (Accelerator-Free) Nitrile Examination
Glove which is designed to biodegrade in both

Prior to being released into the environment, anaerobic and aerobic conditions at landfills. Through
effluent discharges are monitored and assessed Biomethane Potential Testing (BMP), the glove has
daily in dedicated on-site laboratories. a proven 21% biodegradation rate in a span of 66
days under accelerated condition. The ambidextrous
manufacturing facilities within Top Glove
All glove provides an “end life solution” for both landfill
have their own on-site wastewater treatment and recyclability to reduce accumulation of solid
plant. Wastewater generated from the glove waste. This product is also accelerator-free, specially
manufacturing process is channeled to our formulated to minimise Type I and Type IV allergies
wastewater treatment systems, where the while providing a high level of barrier protection
contaminants are concentrated into sludge similar to those not exceeding the conventional
and clean treated water is discharged into the Sulphur and accelerator cross-linking system. This
environment. As an added assurance, water quality product is targeted to be launched in FY2019.
analysis is also conducted twice monthly by an
accredited third-party laboratory.
Our aim is for accelerator-free and biodegradable
accelerator-free gloves to comprise at least 20% of
iv. Waste Management our glove product portfolio by 2030.
have in place Standard Operating Procedures

We
(SOPs) to ensure the best possible measures are
taken throughout all our facilities to reduce any BIODEGRADABLE CPE
adverse environmental impacts arising from the GLOVES AVAILABLE BY END
discharge of waste. OF FY2019

All hazardous waste generated from our
manufacturing processes are sent to a DOE Currently, Top Glove’s CPE gloves are 100%
licensed hazardous waste recycling facility, recyclable but not biodegradable. By end 2019, we
where the waste is recycled or converted into target to develop CPE gloves that are bio-based
environmentally-friendly products. Regular and biodegradable which conform to ASTM D5511
compliance and evaluation audits are also standards and bio-methane potential (BMP) testing
conducted to ensure the integrity of these licensed for biodegradability, as well as ASTM D6866 for
facilities. bio-based content.

(CONT’D)
ENERGY EFFICIENCY
MOISTURISING NITRILE i. Gas consumption
EXAMINATION GLOVES
TO BE LAUNCHED IN FY2019 MORE THAN 20%
REDUCTION IN GAS
Top Glove’s moisturising nitrile examination glove is CONSUMPTION (PER CARTON
dermatologically tested and suitable for users with OF GLOVES) OVER 2 YEARS
dry and itchy skin. With kind-to-skin ingredients (FY2017 & FY2018)
such as almond oil and vitamin E, it helps to protect,
improve and provide long lasting hydration during Natural gas is the primary energy source used in the
use. The accelerator-free variant of the glove, helps glove manufacturing process, mainly for oven and
to minimise risk of Type IV delayed allergic contact tank heating. Our gas saving initiatives are focused
dermatitis. on drying efficiency, heat recovery, heat loss and
heating element efficiency. These have enabled Top
Glove to achieve 19.4% energy savings (per carton
INTELLECTUAL PROPERTIES (IP) of gloves) compared with 8.1% in FY2017.
Our IP filing is as follows:
Type of IP Total filing as at FYE2018

9.5% REDUCTION IN
CARBON DIOXIDE EMISSIONS
Patent FOR FY2018 (PER CARTON OF
GLOVES) COMPARED WITH

8 4 patents and patent 2.99% IN FY2017
applications filed locally and
internationally including 22 In financial year 2018, our gas consumption was
granted patents and 2 green at 16.98kg carbon dioxide emissions per carton of
patents gloves produced, which has since reduced by 9.5%
as compared with FY2017. Our target is to reduce
carbon emissions by 8% annually. To achieve this,
we aim to have higher efficiency heating elements,
Trade mark (TM) special heating insulation, replace metals with
engineering plastics, improve hot air circulation
42 TM’s in multiple classes and recover usable heat. We will also continue to
locally and internationally monitor our combustion equipment and ensure
monthly maintenance is conducted.
ii. Water
Industrial Design (ID)
5 ID’s locally and

RM15 MILLION
internationally INVESTMENT IN
INFRASTRUCTURE AND
EQUIPMENT FOR REVERSE
OSMOSIS WATER TREATMENT
PLANT
The 2 green patents filed were for Top Glove’s CPE
and TPE gloves. The CPE and TPE gloves produced ensure that an adequate supply of water is
To
by Top Glove are more environmentally-friendly with available for everyday operations, we invested
zero discharge or emissions to the environment, as close to RM15 million in the infrastructure and
compared to latex or nitrile gloves. In addition, less equipment for a Reverse Osmosis Treatment Plant
chemicals are used, resulting in minimal material (ROTP). The ROTP treats wastewater discharged
wastage (defective gloves are recycled into raw from the surrounding factories to produce clean
materials) and wastewater generation. The machines water, which is then channeled back into the
for CPE gloves are also designed with minimal noise factories for reuse in production.
generation and the workers will not experience heat
stress from drying or curing processes in the CPE and
TPE glove production. These gloves are clean and
safe to be used in food handling.

(CONT’D)
In addition, we will establish a more structured

safety training module to ensure the effectiveness
LINEAR REDUCTION OF of trainings conducted for staff and workers. We
14.9% PER CARTON will also increase the emphasis on Safety Operating
Procedure training for experienced and new workers
OF GLOVES in order to increase their awareness and competence.
i. Harmonised Integrated Management System

Water consumption per carton of glove saw a linear
reduction of 14.9% equivalent to a reduction of
Towards standardisation across Top Glove
55.2 litres of water consumption for every carton of manufacturing facilities, we are in the process
gloves produced in FY2018. Other ongoing water of consolidating our internal health and safety
saving projects include rain water harvesting, water systems into a single combined Harmonised
recycling and automation for water supply. Integrated Management System which will be
rolled out to all factories in Malaysia by December
iii. Electricity 2018.
ii. Fire Safety Training

2.5% ELECTRICITY
SAVINGS (PER CARTON OF
GLOVES) 15 FACTORIES COMPLIANT
WITH BOMBA FIRE SAFETY

Towards minimising energy wastage, efforts in STANDARDS
the area of stabilising electrical power quality,
investment in higher efficiency equipment and
regular maintenance of electrical distribution Our Emergency Response Team (ERT) has been
systems are carried out. In the pipeline are also trained by the Fire and Rescue Department of
other new initiatives as well, such as power supply Malaysia (BOMBA) and are well-prepared for
optimisation. emergencies. As a result, BOMBA awarded Fire
Certificates to 6 of our Malaysian factories while
9 of our factories received exemption letters,
SOCIAL certifying they are safe to occupy and do not
require fire certificates due to design and size.
We believe engaging and nurturing our people is one We continue to ensure the remaining factories
of the most effective ways to ensure our business adhere to internal fire safety practices.
continues to grow healthily. To this end, Top Glove has
implemented people-focused policies and practices,
For FY2018 as with previous years, we have
so as to create a safe and harmonious environment, conducted fire drills for all locations including
conducive both for career and personal growth. We our corporate headquarters, Top Glove Tower
pay particular attention to the following areas: in compliance with BOMBA requirements. In
FY2018, Factory 19/20 specially conducted a
fire drill with BOMBA in May 2018 while other
SAFETY AND SECURITY factories are scheduled to hold theirs starting
October 2018.
In FY2018, the incident and severity rate saw a slight
increase compared to FY2017. iii.
Control of Industrial Major Accident Hazards
(CIMAH)
The total incident rate saw an increase from 2.31 cases
/1000 employees to 3.82 cases/1000 employees in As
a dynamic and growing company, Top Glove’s
FY2018. Whereas the severity rate increased from manufacturing process consumes a significant
14.05/million hours worked with average lost time level of chemicals. In compliance with the
injury of 15.2 days/accident in FY2017 to 21.29/ Occupational Safety & Health Act (OSHA) 1994
million hours worked with average of lost time injury and CIMAH Regulations, we recently renewed
of 13.9 days/accident in FY2018. However, there the CIMAH report and submitted an Industry
were no fatality cases reported within this period. Activity and Emergency Preparedness report to
the Department of Occupational Safety & Health
To mitigate this, we will continue to prioritise safety (DOSH HQ) at Putrajaya and Selangor which
at the work place by increasing safety awareness requires updates on the company’s operations
initiatives and trainings including conducting daily every 3 years.
spot checks for all potential hazards that can lead
to accidents, and increase safety enforcement to all ensure we are well-prepared for emergencies,
To
staff and workers in order to prevent accidents. programs are also conducted with residents
within close proximity of our factories to keep
them informed on our company’s activities, as
well as preparations in case of emergencies.

(CONT’D)
We
have also collaborated with the BOMBA In FY2018, we encountered 2 such fraud cases
Hazmat team who have both trained and shared amounting to a loss of USD 6,000, which is a
their knowledge with our team. significant reduction compared to 13 fraud cases
amounting to a loss of USD 577,000 in 2014.
iv. Road Safety Programs
will continue to address the occurrence of
We
organised a Road Safety Campaign in March
We fraud cases. To which end, Top Glove has invested
2018, in collaboration with Jabatan Keselamatan in IT security systems and the development of
Jalan Raya (JKJR), Fire Department (BOMBA), cybersecurity policies and procedures that comply
Jabatan Pengangkutan Jalan (JPJ) and Hospital with best practices. In addition, we have intensified
Tengku Ampuan Rahimah (HTAR). Activities effort to educate stakeholders on the importance
held during this campaign include Road Safety of cybersecurity.
Awareness talks, demonstrations by BOMBA
and information booths by various government
agencies. CORPORATE WELLNESS
v. Ongoing initiatives The well-being of our employees continues to be one of

the main priorities of our unique health-centric culture.

We also have ongoing efforts to increase safety Underscoring the importance of employee welfare, we
awareness through talks, workshops, and have in place numerous initiatives aimed at increasing
demonstrations as well as safety measures taken health awareness levels amongst our employees.
such as 24-hour security and ensuring compliance
with safety laws. 1. Health and wellness initiatives
encourage employees to declare unsafe

We i. Top Glove Breakfast Day 2018
acts and/or conditions (UAUC) to the safety
department. From the UAUC statistic compiled, inculcate the habit of having a healthy
To
we can then take necessary measures to improve breakfast, employees were treated to a healthier
safety and prevent any occurrence of accidents. version of Nasi Lemak, a popular Malaysian
breakfast dish during the program which took
vi. Cybersecurity place in January 2018.
85% REDUCTION IN
INVOICE FRAUD CASES
FROM 2014
for Top Glove’s healthier version of
Top Glove and our customers, vendors and business nasi lemak
partners have not been spared the global problem
of phishing scams. These refer to the use of social
techniques to gain information pertaining to individual
user identifications and passwords to various systems,
emails in particular. In Top Glove’s case, we have seen
this resulting in “man-in-the-middle” compromises,
leading to invoice fraud and monetary loss.
Invoice Fraud Cases from FY2014 to FY2018

14 700,000
13 • Low
fat milk used for the rice (to replace
12 12 600,000 santan)
• 1 tablespoon of sambal bawang with less oil
10 500,000 • 1 teaspoon of fried anchovies and peanuts
Amount (USD)
More cucumbers
No. of cases
•
8 400,000 • A choice of 1 hard-boiled egg or tofu
6
(vegetarian)
6 300,000
4
4 200,000
2 2 100,000
0 -
2014 2015 2016 2017 2018 2019
Financial Year
Amount (USD) Cases

(CONT’D)
ii. “Eat Less, Move More” Workshops vii. Maintaining existing initiatives
series of “Eat Less, Move More” Workshops,

A continue to maintain and enhance our
We
encouraging employees to eat healthy portions in existing health practices such as monthly
accordance with the Malaysian Healthy Plate, as health talks, Malaysian Healthy Plate menu for
well as to stay physically active, was also conducted birthday and training meals, monthly Fruit Day
throughout all Malaysian factories with a total of 27 and canteen inspections.
sessions completed within the financial year.

Our comprehensive Monthly Health Talk
Topics include:
Importance Diabetes
of Vaccination Mellitus Type 2
Oral Health: Oral Health:

Mouth The Smile
Problems Makeover
Women
Foot and Leg Wellness
Trauma (Endometriosis)
The Malaysian Healthy Plate is based on the “suku suku
separuh” guideline, comprising a quarter portion of
carbohydrates, a quarter portion of protein and a half Healthy Working Mother
portion of fruits and vegetables (Pregnant & Breastfeeding
Women Wellness)
iii. Educational talks and visits
organised an Educational Visit to the Dialysis

We
Centre aimed at kidney disease awareness and 2. Dental Health
prevention, as well as workshops on Diabetes
and Hypertension as a health intervention
initiative for a focused group of at-risk ABOUT
personnel. RM195,000
INVESTMENT IN FY2018 FOR
iv. Health Day at newly acquired facilities
DENTAL CARE

Health Day was held at our newly acquired
facilities Eastern Press (Factory 34) and Aspion
Top Glove provides complimentary dental kits
(Factories 36, 37 & 38) to introduce our new for all employees, as well as visitors and guests.
colleagues to Top Glove’s wellness initiatives Annual expenses for this initiative amounted to
and culture of good health. Activities conducted RM 194,580 in FY2018 compared to RM189,485
included basic health screening on BMI, body in FY2017, attributed to the increase in employees
fat and muscle percentage, blood pressure, resulting from newly built facilities as well as our
blood sugar, as well as talks on leading a recent expansions via acquisitions.
healthy lifestyle.
FY2018, the company also established its
In
v. Healthy Food Competition own Top Glove branded Dental Kit consisting
of toothbrush, toothpaste, tongue cleaner and
Healthy Food Competition was organised
A dental floss. This in turn improved cost efficiency
among Top Glove Canteens in Klang, Malaysia and brand awareness.
to encourage preparation of healthier meals,
with the winning dishes introduced to the 3. Research collaborations
canteen menu.
FY2018, Top Glove collaborated with UCSI
In
vi. Hand Hygiene campaign University through its subsidiary Top Glove Global
Doctors Medical & Dental Clinic on a dental health
also organised a Hand Hygiene Campaign
We and nutrition study among employees with a high
to educate Top Glove’s Canteen Operators on BMI score.
proper hand cleaning guidelines in addition to
the introduction of using serving trays while
The research found that there was a markedly
eating to improve canteen cleanliness. lower intake of fruits and vegetables among
this group of employees which correlated with
a prevalence of dental caries. These findings
have helped direct efforts to raise awareness
and promote higher consumption of fruits and
vegetables amongst this specific group.

(CONT’D)
4. Downtrend in the number of employees with 6. Employee health score

High BMI
EMERGED HEALTHIEST
EMPLOYEES (LARGE
DECREASE IN OVERWEIGHT ORGANISATION) IN AIA
VITALITY MALAYSIA’S
AND OBESE EMPLOYEES HEALTHIEST WORKPLACE
AWARD 2017
In FY2018, Top Glove participated in AIA Vitality

Percentage of employees with high BMI Malaysia’s Healthiest Workplace Award 2017,
and emerged winner in the Healthiest Employees
(Large organisation) category in November 2017.
17% 14.41%

The personalised survey report which Top
FY FY Glove received from AIA Vitality reported a high
2017 2018 level of participation by employees in nutrition
and physical activity interventions, and which
positively impacted their health. This is indicative
of the effectiveness of our programs which focus
Employees with BMI Employees with BMI on healthy eating and an active lifestyle.
25 kg/m² and above below 25 kg/m²

Top Glove saw 98.4% participation in at least one
Top Glove measures the BMI of its employees nutrition intervention (of those who are aware),
every quarter. In FY2018, 14.41% of employees which is significantly higher than the country’s
fell under the overweight and obese category 94% benchmark. 82.4% of participants also felt
(BMI 25 kg/m² and above) which is about 15% the interventions positively impacted their health.
lower than FY17. The percentage of overweight
staff in Top Glove is also significantly lower However, the report also revealed areas in
compared with the Malaysian average of 47.7% which there was room for improvement in terms
(NHMS 2015 data). of psychological well-being. Survey findings
reported that 56% of the respondents are subject
5.
Average man-days lost/month due to sick to at least one dimension of work-related stress,
leave with overall depression and anxiety risk profiles
among employees higher than the country’s
benchmark. However, Top Glove scored well in
0.72% 0.78% other areas such as health facilities and nutrition.
FY FY note the survey results are not an accurate

We
2017 2018 representation of the average employee’s
health score as the percentage of survey
respondents comprises just 1.2% (157 people)
of Top Glove’s 13,000 employees (as at August
2017). Nevertheless, the total well-being of
Man-days lost per Working man-days our employees continues to rank high on our
month business agenda and to address the concerns
raised, we are already looking into programs
The average for man-days lost per month in FY2018 to improve outcomes in these areas, such as
increased marginally to 0.78% compared to 0.72% sports tournaments amongst employees and
in FY2017 owing to an enhancement in the data collaboration with healthcare professionals that
extraction method which generated data with higher focus on stress management.
accuracy.
The reason for most cases of prolonged medical leave GROWING OUR TALENT
was accidents, either workplace, household or motor-
vehicle related, while common acute sicknesses Our success would not have been possible without
such as fever, cold, Upper Respiratory Tract Infection the many contributions of our people. Our HR mission
(URTI) mainly accounted for sick leave. We are aware statement, “To ensure our employees are performing
of the need for more safety awareness and accident now and prepared to perform in the future” continues
prevention measures and are working towards to drive our initiatives in creating an engaged and
implementing more effective wellness programmes. inclusive work culture that focuses on quality for
an increasingly competitive business market. As an
equal opportunity employer, we embrace diversity
in terms of ethnicity, age, gender, race and cultural
background towards better serving our customer
base and community.

(CONT’D)
i. Embracing A Growing Multi-Cultural Talent Pool Percentage of females in leadership positions
17,000* 53.1% 52%

TOP GLOVERS IN FY2018
FY FY
30.77% INCREASE FROM 2017 2018
FY2017
* Based on total group figures

Male Female
At the close of FY2018 we were employer of
choice to over 17,000* Top Glovers, a figure
that has increased significantly by 30.77% from Percentage of female employees
13,000* employees in FY2017, following recent
expansions both organically as well as via mergers 54.1% 53.5%
and acquisitions. Ours is a diverse workforce, a
substantial percentage of which comprises foreign FY FY
workers. We respect the rights of our people and 2017 2018
take a strong stand against discrimination of any
kind at the workplace. Whenever we operate,
we adhere to the socially ethical standards of
employment practices and policies, and regularly
communicate with our business partners to Male Female
ensure they are aligned with our social compliance
initiatives.
Total employees by age group
Below 0.8%
FY2017 20 1.6%
Local 2,165*
employees
74%
Non-Local 9,033* 20 to
employees 35 81.1%
FY2018 36 to 19.1%
45 13.6%
Local 3,605*
employees
Non-Local 11,575* 46 to 5.7%
employees 60 3.4%
* Based on Malaysian Operations

0.4%
Above
ii. Cultivating A Diverse Workforce 60 0.3%
2017 2018

Accordingly, our management team comprises
a good balance of female and male employees. The majority of our employees fall within the 20 to
Technical roles, traditionally held by men are now 35 age group, which consists of executives and
also increasingly accorded to women. managers. This age group saw a 7% increase
from FY2017, following an increase in demand
Females In The Workforce (2018) for talents due to rapid expansion. The company
saw a slight decrease in age groups 36 to 45 and
52% OF
46 to 60 by 5.5% and 2.3% respectively, as more
younger executives take up leadership positions.
LEADERSHIP POSITIONS
ARE HELD BY iii. Talent Management
FEMALES a. Employee Engagement

INCREASE OF
23.3% IN
EMPLOYEE SATISFACTION
SCORES
(CONT’D)
Level of employee satisfaction In October 2017, Top Glove was named
by HR Asia as 1 of 45 Best Companies To
Work For, for the second consecutive year.
Top Glove scored higher than the industry
average particularly in employee engagement,
FY FY workplace culture, as well as advancement and
2017 2018 development opportunities. Top Glove also
emerged winner: Manufacturing-Chemicals
& Heavy Industries, rising to top 5 employers
among Malaysia’s 100 Leading Graduate
47.67% 58.79% Employers. These recognitions continue to
Above Average Above Average inspire us to do even better in our quest to
deliver excellence for our employees.

Ongoing efforts to encourage employee
engagement and feedback include the annual Employee Turnover Rate (%)
Employee Satisfaction Survey. Based on
responses garnered for FY2018, we observed a 17.73% 17.76%
significant improvement in our overall employee
satisfaction score, where 58.79% of our people 12.30%
rated their working experience in Top Glove as
above average or one of the best as compared
to 47.67% in FY2017. Our improved results are
attributed to the company’s employee-centric
initiatives and benefits including a regular
review of our employees’ salary scale to ensure
our remuneration package remains competitive.
2017
Between March and May 2018, the FY 2017 FY 2018 (Manufacturing
management team also held several town (Top Glove) (Top Glove) Industry Average)
halls at our recently acquired factories
towards a smoother integration process for While our employee turnover is on par with
the businesses. Additionally, the Chairman the market average, we note it has gone
and top management hold weekly birthday up by 5% as compared with last year. We
luncheons with employees, during which there believe a contributing factor for this is related
are knowledge sharing sessions conducted by to our rapid business expansion which
managers. Employees are also encouraged to requires adaptability on our talents’ part to
submit monthly suggestions for improvement transformative changes. We recognise that
via an online portal. talents are the lifeblood of our company and
will continue reviewing and strengthening our
employee retention strategies and developing
an agile workforce in the years to come.
Awards and recognitions
b. Performance-Linked-Rewards
Certificate of Excellence
Human Resource Development
Awards 2017 by HRDF Malaysia PRACTICE OF MERITOCRACY AND
PERFORMANCE-BASED REWARDS
Winner: Healthiest Employees
by AIA Vitality 2017
Employees
are assessed against agreed-
upon KPIs rendering our Performance
Winner: Manufacturing - Management System fair and objective.
Chemicals & Heavy Industries The system is structurally linked to various
by Malaysia’s 100 Leading Gradute rewards, and performing employees enjoy
Employers 2017, GTI Media incentives, ESOS/share grants as well as
contributions to a Private Retirement Scheme
Fund. Opportunities for career advancement
Best Companies To Work For are earned based on performance, which
In Asia 2017 underlines the caliber of our pool of leaders.
by HR Asia

(CONT’D)
c. Succession Planning ii.

SPECIALISED R&D
Top Glove Succession Plan Crystalised TRAINING TO ENHANCE
JOB KNOWLEDGE
FY2018, we crystalised our Succession
In
Plan, the first phase (identifying and assessing
candidates) of which has already been
completed and resulted in a healthy ratio of 2:1 Specialised trainings were also conducted
Succession Bench Strength ie. 2 successors to for the R&D team, who are charged with
every 1 mission critical position. In the second driving innovation initiatives within the
ongoing phase, nominated successors are company. In FY2018, we arranged for a
assessed in two areas: Potential and Top Glove series of R&D Capability Building Technical
Leadership Competencies. Thereafter for Phase Programs and also enrolled them in various
3, candidates will undergo a robust Individual public programs and workshops to enhance
Development Plan (IDP) which consists of job knowledge.
70% stretched assignments, 20% formal/
informal coaching sessions and 10% course iii.
development (the 70/20/10 Development INTERNAL TRAIN-THE-
Model), to ensure our successors receive the
development they need. TRAINER PROGRAM
d. Learning and Development
To strengthen our Learning & Development

TARGETED AVERAGE team, we also selected 20 internal
LEARNING HOURS candidates from various departments to
EXCEEDED IN FY2018 undergo a 5-day development Train-The-
Trainer program by Human Resources
Development Fund (HRDF), starting them on
their internal trainer journey. This is also in

Talent development is one of the core aspects line with Top Glove’s Culture of Must Know,
of the organisation’s continued growth and Must Do, Must Teach which encourages
success. Underscoring the importance of continuous learning and knowledge sharing
continuous learning within the organisation, among employees.
we increased the targeted learning hours
per employee from an average of 32 hours in
FY2017 to 36 hours in FY2018. In FY2018, Top HUMAN CAPITAL MANAGEMENT SYSTEM
Glove achieved an average of 39 learning hours/ TRANSFORMATION IN FY2019: TG REACH
employee, exceeding the targeted learning
hours set. However, the average training hours
decreased by 9% compared to the previous
financial year, attributed to an increase in RM6 MILLION
employees from our recent acquisitions. To INVESTED IN AN SAP
mitigate this, the Group has developed a SUCCESSFACTORS HR SYSTEM
number of new approaches in learning and
development programmes such as:
The Company invested RM6 million in an SAP
i. SuccessFactors HR System, to transform its human
DEVELOPED VIDEO- capital management system in order to better support
BASED LEARNING its regional and global expansion. Named TG REACH,
it comprises six modules namely Performance & Goals,
Compensation, Learning, Recruitment, On-boarding,
Succession & Development. The first module for TG
Reach officially went live in early September 2018
We developed approximately 60 videos with the implementation of the entire system expected
relating to work instructions to complement to be completed within 14 months. In FY2019, Top
classroom training sessions. These enabled Glove’s reward management will be reviewed and
employees to learn at their own pace and redesigned to ensure its competitiveness against
in smaller groups without affecting daily market benchmarks.
business operations. The videos were also
translated into Nepali, accommodating the
majority of our foreign workers, in addition COMMUNITY
to having subtitles in Bahasa Malaysia and
English. Corporate responsibility continues to be an important
focus of our business agenda. Our community outreach
program encompasses education, environment,
community welfare and charities, for which Top Glove
Foundation contributed close to RM4 million for FY2018.
(CONT’D)
A key area we aim to create value in is education, TGPAC is also empowered to conduct investigations
which we believe is the cornerstone of an advanced in the event of any corruption acts or bribery cases.
and progressive nation. Since the inception of Top
Glove Foundation, it has offered 59 scholarships to
students, for various degree courses in local public ISO 37001: 2016 ANTI-BRIBERY MANAGEMENT
universities. Top Glove also donated to institutes for SYSTEM
redevelopment and facility improvement projects such
as Sekolah Rendah Jenis Kebangsaan (C) Chun Yin In November 2017, Top Glove became the first private
and Huaren Education Foundation. company in Malaysia to receive the ISO37001:2016
Anti-Bribery Management System (ABMS) certification.
In line with our commitment to give back to society, Top Top Glove’s Factory 9 in Meru, Klang was the first
Glove also organises charitable visits and donations manufacturing facility to be certified and plans are
every year, especially during festive seasons in underway to implement the ABMS practices in every
Malaysia such as the Lunar New Year, Eid Mubarak, factory starting September 2018. This will include the
and Deepavali. Different teams from Top Glove visited enhancement of the current anti-corruption training
charitable associations namely Padmasambhava module enforcement of the gift policy, whistle blowing
Children Loving Association Klang, Rumah Penyayang policy and Letter of Enforcement of Corporate Culture
Hembusan Kasturi, and Chik Sin Thong Old Folks (LECC) as well as due diligence in recruitment and
Home Klang. supplier selection. A special Integrity Unit, was also
formed to oversee its implementation as well as
Further adding value to the community, Top Glove also provide advice and guidance.
organised a blood donation drive across our factories,
participated in charity runs, as well as performed We are also able to enhance existing bribery controls
maintenance works to resurface the road and clear the systematically by executing the anti-bribery and anti-
drainage system within the factories’ vicinity. We also corruption control plan for our day-to-day tasks.
sponsored 2000 cartons of gloves to St John Ambulance Whereas, the implementation of the bribery risk
Malaysia and donated to 1MCA Medical Foundation. assessment helps to identify key areas of business
processes that require control in order to mitigate
bribery risks. The implementation of the bribery risk
ECONOMICAL assessment is a requirement under ISO 37001:2016
that we have maintained and continue to conduct
Top Glove is committed to upholding a good corporate annually to ensure all our business processes are
governance framework that promotes fairness, executed in an ethical, transparent and fair manner.
transparency and accountability. Top Glove’s Business
Ethics, of Honesty, Integrity and Transparency have
shaped our culture over the years and we continue ACCOLADES FOR GOOD CORPORATE
to manage our business based on these values. As GOVERNANCE
the world’s largest manufacturer of gloves, we are
cognisant of our immense responsibility to ensure we
operate safely, responsibly, honestly, transparently Emerged winner at the MSWG -
and with integrity, which we believe is fundamental to Asean Corporate Governance Award
our strong financial performance year after year. 2017
CODE OF CONDUCT In recognition of our high standards of corporate

governance, Top Glove garnered the Merit Award for
On our website is the Director’s Code of Conduct and the Most Improved Corporate Governance Disclosure and
Employee’s Code of Conduct reflecting the underlying Industry Excellence for Manufacturing at the MSWG
shared values we uphold. The company also provides ASEAN Corporate Governance Award 2017.
an avenue for Whistleblowing for office-based staff and
workers, as well as the general public, for which there
were no formal and reportable cases in FY2018. LISTED IN THE MSCI GLOBAL
STANDARD INDEX AND
MAINTAINED LISTING AS A
TOP GLOVE PREVENTION AND ANTI- FTSE4GOOD CONSTITUENT
CORRUPTION COMMITTEE (TGPAC)
Reflecting our commitment to uphold integrity and Top Glove was recently included as a constitutent of
prevent corruption in the conduct of our business and the MSCI Global Standard Index effective June 2018,
interactions with the government, we established the in recognition of its strong and consistent growth.
Top Glove Prevention and Anti-Corruption Committee Top Glove is also amongst an elite 34 out of over 700
(TGPAC) in 2009 headed by our Managing Director, PLCs in Malaysia to be listed as a constituent of the
Dato’ Lee Kim Meow. FTSE4Good Bursa Malaysia Index. It has maintained its
standing since it was first included on the index in 2016,
The committee also aims to promote an anti-corruption having demonstrated a leading approach to addressing
mindset amongst Top Glove’s employees, as well as to Environmental, Social and Governance (ESG) risks in
provide an avenue for employees and the public to lodge accordance to globally recognised standards.
complaints of any corrupt practices in the company.
FINANCIAL CALENDAR
FOR FINANCIAL YEAR END 31 AUGUST 2019
NOVEMBER, 14
2018 Notice Date and Issuance of Annual Report 2018
DECEMBER
(3RD WEEK) 1 ST
Unaudited consolidated results QUARTER
for the 1st quarter ending 30 November 2018 FY2019
JANUARY, 8
20th Annual General Meeting
Time : 10.30 a.m.
2019 Venue : Top Glove Tower
AGM
Proposed Final Dividend of 5.0 sen
Entitlement Date : 11 January 2019
Payment Date : 25 January 2019
MARCH
(3RD WEEK) 2 ND
for the 2nd quarter ending 28 February 2019 FY2019
JUNE
(3RD WEEK) 3 RD
for the 3rd quarter ending 31 May 2019 FY2019
OCTOBER
(2ND WEEK) 4 TH
for the 4th quarter and financial year ending 31 August 2019 FY2019

TOP GLOVE 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

CORPORATE GOVERNANCE
OVERVIEW STATEMENT
The Board of Directors of Top Glove Corporation Bhd (“Top Glove” or “the Company”)
(“the Board”) remains committed to embrace across organisation high standards of
corporate governance and integrity whilst pursuing its corporate objectives in creating
long-term shareholders’ value and competitiveness. The Board is always mindful on
the importance of governance and acknowledges to continue delivering sustainable
performance and instilling best corporate governance practices in building a sustainable
business.
Top Glove’s commitment on corporate governance was testified by the following testament:
Malaysia-ASEAN Corporate Governance Transparency Index, Findings and Recognition 2017, the Company
had achieved the following:
i. Rank No. 14 in the list of top 100 companies with good disclosures (2016: No. 18); and
ii. Rank No. 6 in the list of top 100 companies for overall corporate governance and performance
(2016: No. 7).
Top Glove’s exemplary corporate governance practices have received many recognitions including the
following in the financial year ended 31 August 2018 (“FY2018”):
(a)
Merit Award for Most Improved Corporate Governance Disclosure, MSWG~ASEAN Corporate
Governance Award 2017; and
(b) Industry Excellence in Manufacturing, MSWG~ASEAN Corporate Governance Award 2017.
Top Glove continues to be the selected constituents of the FTSE4Good Bursa Malaysia Index (“F4GBM”).
Top Glove is included in the F4GBM Index since December 2015, having demonstrated a leading approach
in addressing Environmental, Social and Governance (ESG) risks, in accordance to globally recognised
standards. The aforesaid achievement reflects greater recognition of and better adherence to higher
sustainability disclosure.
Top Glove is also one of the component stocks of the MSCI Global Standard Index, FBM Mid 70 Index, FBM
Top 100 Index, FBM EMAS Syariah Index and FBM Hijrah Shariah Index.
Top Glove and its subsidiaries (“the Group”) will continue to endeavour its efforts in evaluating its governance
practices in response to the evolving best practices and the changing requirements. The Board is pleased
to present the Corporate Governance Overview Statement for the FY2018 outlining the application of the
principles and recommendations as set out in the following guides:
(a) Companies Act 2016 (“CA 2016”);

(b) Bursa Malaysia Securities Berhad (“Bursa Securities”) Main Market Listing Requirements (“Main LR”);
(c) Malaysian Code on Corporate Governance (“MCCG”); and
(d) Corporate Governance Guide 3rd Edition issued by Bursa Malaysia Berhad.
The Group noted on the principles and recommendations of the above-mentioned guides and will further
review its corporate governance practices to bring the same to be in line with the recommendations under
those guides.
As part of its efforts to enhance its practices, Top Glove has also taken the initiative to benchmark itself
against leading corporate governance standards of reputable public listed companies in Malaysia.

OVERVIEW STATEMENT
(CONT’D)
Release of Annual Report and Quarterly Financial Results and holding of Annual General Meeting
(“AGM”) and Analyst Briefing
No. of Days Bursa Securities No. of Days

Date of Issue/ after end Deadline for the Date of AGM/ after date
Release of Year/ Issue/ Release Analyst Briefing of Issue/
Quarter Release
Annual Report 2017 13 November 2017 74 31 December 2017 9 January 2018 56

Annual Report 2016 14 November 2016 75 31 December 2016 5 January 2017 51
2018 Quarterly Results
First Quarter 19 December 2017 19 31 January 2018 12 January 2018 24
Second Quarter 15 March 2018 15 30 April 2018 16 March 2018 1
Third Quarter 19 June 2018 19 31 July 2018 19 June 2018 same day1
Fourth Quarter 11 October 2018 41 31 October 2018 17 October 2018 6
Note:
1
Analyst Briefing was held through tele-conferencing.
The MCCG covers three (3) broad Principles, which are (A) Board leadership and effectiveness; (B) Effective audit
and risk management; and (C) Integrity in corporate reporting and meaningful relationship with stakeholders.
This statement is prepared in compliance with Bursa Securities Main LR and it is to be read together with
Corporate Governance Report 2018 (“CG Report”) of the Company based on a prescribed format pursuant to
Paragraph 15.25 of Bursa Securities Main LR. The CG Report is available on Top Glove’s website: http://www.
topglove.com/corporate-governance/
The CG Report provides the details on how the Company has applied the 32 Practices and 4 Step-Ups as set
out in the MCCG during the FY2018.
PRINCIPLE A: BOARD LEADERSHIP AND EFFECTIVENESS
Board’s Responsibilities
Top Glove is led by an experienced Board comprising members who are specialised in the glove manufacturing
and various business sectors supported by a wide range of other professionals in the economics, engineering,
legal and accounting sectors. This wide spectrum of skills and experience provide the strength that is needed to
lead the Company to meet its objectives and enable the Company to rest in the firm control of an accountable
and competent Board.
During our Board strategic planning (offsite) meeting held on 17 January 2018, as part of the Board’s function
to set the strategic direction of the Company, the Board has carved the strategic statements focussing on key
strategic areas as the Group’s strategy plan to support the Group’s long-term value creation and sustainability
businesses. The Board has also identified the key management personnel responsible for each key strategic area
and they have to provide progressive report on its implementation to the Board. The Board will review, monitor
and oversee the implementation of the key strategic areas at its quarterly Board meeting.
The annual budget meeting is held every year for the Board to review and oversee the Group’s budget together
with the strategy plan of each business unit. During the FY2018, a brainstorming session was organised amongst
the Board members and key management personnel to draft the new Vision and Mission Statement of the
Company.
Presently, the Board is supported by four (4) Board Committees namely, Audit Committee (“AC”), Risk Management
Committee (“RMC”), Nomination and Remuneration Committee (“NRC”) and Investment Committee (“IC”) that are
delegated with specific responsibilities to oversee the Group’s affairs, with authority to act on behalf of the Board in
accordance with their respective Terms of Reference (“TOR”). Each Board Committee will review, report and make
recommendation to the Board during the Board meeting on matters relevant to their roles and responsibilities. The
Board Committees also table the minutes of the Board Committees meetings at the quarterly Board meetings as
to keep the Board abreast of the decision and discussion made by each Board Committee.

OVERVIEW STATEMENT
(CONT’D)
The Board Charter duly adopted by the Board clearly established the functions reserved for the Board, Directors’
roles and responsibilities and those delegated to Management. It is a reference and induction literature in
providing the Board members and Management insight into the functions of the Board. The Board Charter is
accessible through the Company’s website: http://www.topglove.com/corporate-governance/
Role of Chairman, Managing Director, Executive Directors and Independent Non-Executive Directors (“INED”)
The Executive Chairman, Tan Sri Dr Lim Wee Chai is primarily responsible for the orderly conduct of the Board
meetings and ensure effectiveness of the Board.
The Managing Director, Dato’ Lee Kim Meow will assist the Executive Chairman in the effectiveness of
implementation of the Board policies, making operational decisions and monitoring the day-to-day running of
the businesses, including defining the limits of Management’s responsibilities.
The Executive Directors are responsible for the day-to-day operations of the Group whereby operational issues
and problems are discussed, major transactions and matters relating to the Group are reviewed and operational
strategies are formulated.
INEDs are to deliberate and discuss policies and strategies formulated and proposed by Management with the
view of long-term interests of all stakeholders. The INEDs provide independent and unbiased view, advice and
judgement to ensure a balanced and unbiased decision making process to safeguard the long-term interests of
all stakeholders and the community.
The Senior INED, Tan Sri Dato’ Seri Utama Arshad Bin Ayub (“Tan Sri Arshad Ayub”), acts as a point of contact
for shareholders and other stakeholders with concerns which have not been resolved or those deemed
inappropriate to be communicated through the normal channels.
Role of Company Secretaries
The Company Secretaries play significant role in supporting the Board for ensuring that all governance matters
and Board procedures are followed and that applicable laws and regulations are complied with. The Company
Secretaries also highlight all compliance and governance issues that required the Board’s attention.
The Company Secretaries also facilitate the communication of key decisions and policies between the Board,
Board Committees and senior management.
Board Meetings
The dates of the meetings of the Board, Board Committees and AGM for each financial year were fixed in
advance for the whole year to ensure all Directors/Board Committees members’ dates are booked and also to
facilitate Management’s planning for the whole financial year.
The Board meets quarterly to review its quarterly performance and discuss new policies and strategies.
Additional meetings will be called as and when necessary. During the FY2018, seven (7) Board meetings were
held and the attendance of the Board and Board Committees members are as follows:
FY2018 meeting calendar for the Board and Board Committees
Sept Oct Nov Dec Jan Feb Mar Apr May June July Aug
‘17 ‘17 ‘17 ‘17 ‘18 ‘18 ‘18 ‘18 ‘18 ‘18 ‘18 ‘18
BOD √ √ √ √ √ √ √
AC √ √ √ √ √ √
NRC* √ √ √ √
IC √ √
RMC √ √ √ √

Note:
* Nomination and Remuneration Committee had been merged on 13 October 2017. The meetings included
Nomination Committee Meeting held on 12 October 2017 and Remuneration Committee Meeting held on
15 September 2017.

OVERVIEW STATEMENT
(CONT’D)
Attendance of Directors and Board Committees members at the respective meetings held during the FY2018
Board of Board Committees

Name of Directors GMΩ
Directors AC @
RMC NRC¥ IC
1. Tan Sri Dr Lim Wee Chai 7/7 3/3 1/1 2/2
(Executive Chairman) (100%)# (100%)# (100%)§ (100%)#
2. Tan Sri Arshad Ayub 6/7 3/3 7/8 3/3 2/2
(85.7%) (100%) (87.5%)# (100%)# (100%)§
3. Tan Sri Rainer Althoff 7/7 3/3 4/4
(100%) (100%) (100%)§
4. Puan Sri Tong Siew Bee 6/7 3/3
(85.7%) (100%)
5. Dato’ Lee Kim Meow 7/7 3/3 4/4
(100%) (100%) (100%)§
6. Lim Hooi Sin 7/7 2/3
(100%) (66.7%)
7. Lim Cheong Guan 7/7 3/3 4/4 1/2
(100%) (100%) (100%)§ (50%)§
8. Dato’ Lim Han Boon 7/7 3/3 8/8 4/4 4/4 2/2
(100%) (100%) (100%)§ (100%)# (100%)§ (100%)§
9. Datuk Noripah Binti Kamso 7/7 3/3 7/8 2/2
(100%) (100%) (87.5%)§ (100%)§
10. Sharmila Sekarajasekaran 7/7 3/3 8/8 3/3
(100%) (100%) (100%)§ (100%)§
11. Tay Seong Chee Simon 7/7 3/3
(100%) (100%)
12. Datuk Dr. Norma Mansor 7/7 3/3 4/4 3/3
(100%) (100%) (100%)§ (100%)§
13. Low Chin Guan 2/2
(appointed as Executive (100%)
Director on 4 April 2018
and removed on
10 October 2018)
Total no. of Meetings: 7 3 8 4 4 2
Note:
# Chairman
§ Member
Ω General meetings. One (1) AGM held on 9 January 2018. Two (2) EGMs held on 9 January 2018 and 8 March 2018.
@ AC had eight (8) meetings, includes two (2) meetings with External Auditors (without Executive Directors’
and Management’s presence), one (1) meeting with Internal Auditors (without Executive Directors’ and
Management’s presence) and one (1) meeting on internal audit matters.
¥ Nomination and Remuneration Committee had been merged on 13 October 2017.
All the above meetings were held in the Company’s Corporate Office at Top Glove Tower, 16, Persiaran Setia
Dagang, Setia Alam, Seksyen U13, 40170 Shah Alam, Selangor Darul Ehsan except for the Board Offsite meeting
which was held at Phuket, Thailand.
In the intervals between Board meetings, any matters requiring urgent Board’s decisions or approvals will be
sought via circular resolutions which are supported with all the relevant information and explanations required for
an informed decision to be made and the same for the Board Committees.
The Board decisions made at the Board meetings shall be by a majority as prescribed by the Constitution of the
Company.

OVERVIEW STATEMENT
(CONT’D)
During the FY2018, some of the Board agenda items are as follows:
(a) Strategic planning for the Group;

(b) Budget review;
(c) Quarterly Unaudited Consolidated Results;
(d) Half-year Financial Performance Report;
(e) Business Plan and Development;
(f) Proposals and updates on Investment Projects;
(g) Corporate proposals on Mergers and Acquisitions;
(h) Progress updates on implementation of Key Strategic Areas;
(i) Regulatory and Compliance updates;
(j) Share performances on Bursa Malaysia Securities Berhad and Singapore Exchange Limited;
(k) Capital Structure review and Balance Sheet Management;
(l) Sustainability initiatives of the Group and reporting;
(m) Analysis of Corporate Governance disclosure;
(n) Dividend proposal; and
(o) Board Committees composition, board processes and governance review.
All AC members are financially literate. Dato’ Lim Han Boon is a member of the Malaysian Institute of Accountants,
the Chartered Management Institute, United Kingdom (“UK”) and fellow of the Association of Chartered Certified
Accountant, UK which fulfilled the financial expertise requirement by Bursa Securities Main LR.
Our Executive Director and Senior General Manager, Finance attend all meetings of the AC, other than meetings
held between the AC and External Auditors (without Executive Directors’ and Management’s presence) as well
as the meeting held between the AC and Internal Auditors (without Executive Directors’ and Management’s
presence).
During the FY2018, the AC met with the External Auditors (without Executive Directors’ and Management’s
presence) twice and met with the Internal Auditors (without Executive Directors’ and Management’s presence)
once.
Further details on the summary of activities of the AC during the FY2018 is set out separately in the AC Report
on pages 90 to 91 of this Annual Report.
Supply of Information to the Board
All Directors are provided with an agenda of the meeting and board papers which contain the Company’s financial
performance, business outlook, various Board Committees’ reports and disclosures by Directors of their interests
in the shares and their interests in contracts, properties and offices pursuant to Section 219 and Section 221 of
the CA 2016, respectively prior to the Board meeting. The board papers are issued in advance and in a timely
manner to facilitate informed decision making. The Managing Director and Executive Directors would lead the
presentation of board papers and provide comprehensive explanations of business plans, business performance,
potential mergers and acquisitions and other pertinent issues.
Any proposal and recommendation by Management will be deliberated and discussed by the Board before a
decision is made. All matters raised, discussions, deliberations, decisions and conclusions including dissenting
views made at the Board meetings with clear actions to be taken by responsible parties are recorded in the minutes.
The Notices of the Board and Board Committees’ meetings are send within fourteen (14) days prior to the
meetings and at all times, endeavour to deliver the non-financial meeting materials within seven (7) days prior
to the meetings whereas the financial materials would be delivered in average within two (2) days prior to the
meetings as the aforesaid materials are sensitive information.
Notices on the closed period for trading in Top Glove’s securities are served to Directors, key management
personnel and principal officers who are deemed to have privy to any sensitive information for the applicable
periods especially the regular annual scheduled Board meetings to approve the quarterly financial results. This
is to comply with Bursa Securities Main LR and the Capital Markets and Services Act 2007 requirements where
Directors, key management personnel and principal officers of the Company and the Group are prohibited from
trading in securities or any kind of property based on price sensitive information which have not been publicly
announced within 30 calendar days before the targeted date of announcement of the quarterly financial results
up to the date of announcement. In the FY2018, none of the Directors dealt in Top Glove’s securities during the
closed period.

OVERVIEW STATEMENT
(CONT’D)
The Directors are also notified of any corporate announcement released to Bursa Securities and the impending
restrictions on dealing with the securities of the Company prior to the announcement of the quarterly financial results.
All Directors and Company Secretaries have been issued with the Code of Conducts for Directors and Secretaries.
The Company Secretaries also act as the Secretaries for all the Board Committees.
Board Composition and Balance
The Board currently comprises twelve (12) members, made up of five (5) Executive Directors including the
Executive Chairman and Managing Director and seven (7) INEDs. The roles and responsibilities of the Executive
Chairman and the Managing Director are distinctive and have been clearly segregated to further enhance and
preserve a balance of authority and accountability to avoid unfettered powers of decision making. The composition
reflects a balance of Executive Directors and Non-Executive Directors (including INEDs); ensuring that all Board’s
discussions or decisions have the benefit of predominantly outside views and experiences, and that the INEDs
are free from interests and influences that may conflict with their duties to the Company.
The majority number of INEDs help to ensure effective check and balance of the Board’s function as the INEDs
are often the carers of the minority shareholders in providing constructive feedbacks to the proposals of the
Company.
There are four (4) female Board members, representing 33% of the total Board members. The aforesaid female
Board members provide the Board with gender diversity that bring value to the Board’s deliberations from the
different perspectives and insights of the female Board members.
During the FY2018, Mr. Low Chin Guan was appointed to the Board on 4 April 2018 as Executive Director due to
acquisition of Aspion group of companies. Subsequently, he had been removed from the Board on 10 October
2018 via an Extraordinary General Meeting.
The profile of each of the Board members is as presented on pages 10 to 17 of this Annual Report.
Independence
The Board recognises the significant contribution by INEDs to the Company in bringing independent and objective
judgement to the Board in decision making.
The term “independence” as prescribed under Bursa Securities Main LR states that INEDs should be independent
of management and free from any business or other relationships which could interfere with the exercise of
independent judgement or the ability to act in the best interests of the Company. INED is willing to express his/
her opinion to the Board free of concern about his/her position or the position of any third party. Nevertheless,
none of the INEDs engage in the day-to-day management of the Company, participate in any business dealings
or is involved in any other relationships with the Company (other than in situations permitted by the applicable
regulations).
An annual independency assessment has been carried out by the NRC to ensure the independency of all INEDs.
The assessment is based on the criteria on independence as set out in Bursa Securities Main LR and Practice
Notes of Bursa Securities Main LR, including a self-declaration of any involvement or relation which could interfere
an independent judgement and ability to act in the best interests of the Company. An independent confirmation
is obtained based on the independency assessment before the appointment of INED and INEDs are assessed
annually to re-affirm their independence based on the provisions of Bursa Securities Main LR.
During the FY2018, the Board was satisfied that none of the INEDs had any relationship that could materially
interfere with, or perceived to be materially interfere with their unfettered and independent judgement and ability
to act in the best interests of the Company.

OVERVIEW STATEMENT
(CONT’D)
Gender Diversity on Board and Management
The Company takes diversity not only at the Board level but also at the workplace as it is an essential measure
of good governance, critically attributing to a well-functioning organisation and sustainable development of
the Company. Diversity encapsulates not only gender but also age and ethnicity, if well-managed, can drive
performance and strengthen governance.
Despite of the importance of Boardroom diversity, the Board is of the view that the selection criteria of a Director,
based on effective blend of competencies, skills, extensive experience and knowledge in areas identified by the
Board, should remain a priority, not compromising on qualification, experience and capabilities.
A Board Diversity Policy was adopted by the Board in 2014 setting out the principles of Top Glove in
maintaining a diversify Board. A copy of the Board Diversity Policy is made available on the Company’s website:
http://www.topglove.com/corporate-governance/
Currently, the Board has 33% female representation. Aside from achieving the gender diversity aspect, the
Board also aspires to achieve significant benefits by focusing on individual talents, abilities and experiences to
meet the Group’s objectives of being the world’s leading gloves manufacturer; hence, requiring a Board with
broader range of competence, skills and experience.
Below sets the summary of the gender, ethnicity and age mix of our Management team, excluding workers:
A) Gender (data compiled as at 26 September 2018)
Category Total Headcount Male Employees Female Employees

Headcount % Headcount %
All Staff 3,426 1,593 46.50 1,833 53.50
Management staff 463 228 49.24 235 50.76
(Manager & above)
Directors on Board 13 9 69.23 4 30.77
B) Ethnicity
Category Total
Malay Chinese Indian Others
Headcount
Headcount % Headcount % Headcount % Headcount %
All Staff 3,426 1,613 47.08 864 25.22 375 10.95 574 16.75
Management staff 463 109 23.54 282 60.91 33 7.13 39 8.42

(Manager & above)
Directors on Board 13 3 23.08 8 61.54 1 7.69 1 7.69

OVERVIEW STATEMENT
(CONT’D)
C) Age
Category Total
70 & Above 60 to 69 50 to 59 40 to 49 30 to 39 20 to 29 Below 20
Headcount
Headcount % Headcount % Headcount % Headcount % Headcount % Headcount % Headcount %
All Staff 3,426 2 * 26 * 184 5 396 11 861 25 1,942 57 15 *
Management staff 463 1 * 10 2 51 11 123 27 205 44 73 16 - *

(Manager & above)
Directors on Board 13 2 15 5 39 6 46 - - - - - - - -
Re-election and Re-appointment of Directors
In accordance with the Company’s Constitution, all Directors who are appointed by the Board are subject
to retirement at the first AGM of the Company subsequent to their appointment. One third (1/3) of all the
other Directors shall retire by rotation at each AGM provided always that all Directors shall retire from office
at least once in every three (3) years. The Directors retiring from office shall be eligible for re-election by the
shareholders.
he Directors due for re-election by rotation pursuant to Article 94 of the Company’s Constitution at the
T
forthcoming AGM are Dato’ Lee Kim Meow, Puan Sri Tong Siew Bee and Mr. Lim Hooi Sin. Their profiles are
set out on pages 12 and 14 of this Annual Report.
he Company has not established a term limit of the INEDs as the Board believes that a term limit does not in
T
any way interfere with their contributions in terms of skills, experience, professionalism and integrity including
core competencies in exercising their objectivity and independent judgement to discharge their responsibilities
in good faith and in the best interests of the Company which are more critical in ascertaining the function and
effectiveness of their independence than the number of years served on the Board. The on-going evaluation
also further ensure the effectiveness of the Board as a whole in discharging their duties and responsibilities
despite the duration of service for one (1) INED has exceeded nine (9) years.
Directors’ Training
During the FY2018, the Directors have continued to participate in training programmes to equip themselves
and to effectively discharge their duties as Directors as and when beneficial. The Directors have constantly
kept themselves updated on both local and international affairs and to changes in regulations affecting the
Company through advisories from regulatory bodies, Management and through self-reading.
The Directors are also updated by the Company Secretaries on any change to legal and governance practices
of the Group, and new accounting and auditing standards that may have impact on the Company’s businesses
via email and at every AC and Board meetings.
It is of the Company’s intention that each new Director is given a comprehensive briefing on the Company’s
history, operations, financial control system and plant visit to enable him/her to have first-hand understanding
of the Company’s operations.

OVERVIEW STATEMENT
(CONT’D)
During the FY2018, all Directors had collectively or individually attended/participated in the following seminars/
forums/conferences/training programmes:
Directors Seminars/Forum/Conference/Training attended Date

Tan Sri Dr Lim Wee Chai 1. Forbes Global CEO Conference & Forbes 100th 25 to 28 September
Anniversary celebration, Hong Kong 2017
2. 企业分享及展望世界500强, Wisma Huazong, 20 October 2017
Selangor
3. Taiwan-Malaysia Industrial Collaboration Summit, 24 to 25 October 2017
Taichung, Taiwan
4. Workshop on Face to Face with VIP, Top Glove 2 December 2017
Tower, Setia Alam, Selangor
5. Mastering Creativity Workshop by Tan Sri Megat, 3 January 2018
Top Glove Tower, Setia Alam, Selangor
6. Bank of Singapore Global Outlook, Kuala Lumpur 10 January 2018
7. Nikkei Asia 300 Summit, Singapore 18 January 2018
8. UOB Private Bank First Market Outlook 2018, 27 February 2018
Kuala Lumpur
9. B-connected by UBS, Beijing, China 26 to 28 April 2018
10. The JP Morgan Tech Ex-change, Shenzhen, China 10 May 2018
11. Asia ~ The Greater Disruptor Investor Forum, 16 May 2018
Singapore
12. KWSP’s strategy visit to Germany 19 to 22 May 2018
13. Stewardship Asia Roundtable 2018, Singapore 4 June 2018
14. DBS Asian Insights Conference 2018, Singapore 13 July 2018
15. Top Glove Youth Leadership Submit Top Glove 14 July &
Tower, Setia Alam, Selangor 22 September 2018
16. UOB Private Bank KL Investment Forum, 24 July 2018
Kuala Lumpur
17. Alliance DBS Research 2nd Half Market Outlook, 26 July 2018
Kuala Lumpur
18. FMM Council Brainstorming session, Bentong, 3 to 4 August 2018
Pahang
Tan Sri Arshad Ayub 1. Independent Directors’ Programme: The Essence of 20 November 2017
Independence, Kuala Lumpur
Dato’ Lee Kim Meow 1. Motivational Talk from Successful Malaysian 9 September 2017
Entrepreneur, Klang, Selangor
2. Synthomer Latest Technological Innovation, Kuala 15 September 2017
Lumpur
3. Fraud Risk Management Workshop by Bursa 26 September 2017
Malaysia, Kuala Lumpur
4. Corporate Governance Breakfast Series: Leading 5 December 2017
Change @ The Brain, Kuala Lumpur
5. Mastering Creativity Workshop by Tan Sri Megat, 3 January 2018
Top Glove Tower, Setia Alam, Selangor

OVERVIEW STATEMENT
(CONT’D)

Dato’ Lee Kim Meow 6. Invest Malaysia 2018, Kuala Lumpur 23 January 2018
(Cont’d)
7. Best Practice Forum, Kuala Lumpur 30 March 2018
8. DTAP Kickoff Event by MDEC & MIDA, Kuala Lumpur 9 April 2018
9. Top Glove Youth Leadership Submit, Top Glove 14 July 2018
Tower, Setia Alam, Selangor
10. Nation Building Event “New Malaysia: What's 11 August 2018
Next?”, Kuala Lumpur
Tan Sri Rainer Althoff 1. Independent Directors’ Programme: The Essence of 20 November 2017
Independence, Kuala Lumpur
Puan Sri Tong Siew Bee 1. Taiwan-Malaysia Industrial Collaboration Summit, 25 October 2017
Taichung, Taiwan
2. MRCA Corporate Advisors ~ MRCA 25th 9 November 2017
Anniversary, Kuala Lumpur
3. Integrity Talk 2017, Top Glove Tower, Setia Alam, 8 December 2017
Selangor
4. Nikkei Asia 300 Summit, Singapore 18 January 2018
5. Julius Baer 2018 Market Outlook Luncheon Seminar, 13 February 2018
Kuala Lumpur
6. UBS B:connected 2018, Beijing, China 25 to 28 April 2018
7. Visited Customer in SuZhou and attended J.P. 9 to 12 May 2018
Morgan Tech Exchange 2018, Shenzhen, China
8. Stewardship Asia Roundtable 2018, Themed 4 June 2018
“Stewardship in a Disruptive World”, Singapore
9. FMM Selangor 'Nite 2018 27 June 2018
10. FMM Council Brainstorming session, Bentong, Pahang 3 to 4 August 2018
Lim Hooi Sin 1. J.P. Morgan Asia Pacific CEO-CFO Conference, New York 6 to 7 September 2017
2. MEDICA Conference, Germany November 2017
3. Daiwa Investment Conference, New York 29 to 30 May 2018
Lim Cheong Guan 1. Morgan Stanley Sixteenth Annual Asia Pacific 15 to 17 November
Summit, Singapore 2017
2. CIMB 10th Annual Malaysia Corporate Day, Kuala 4 January 2018
Lumpur
3. DBS Pulse of Asia 2018, Singapore 11 January 2018
4. Invest Malaysia 2018, Kuala Lumpur 23 to 24 January 2018
5. Nomura Malaysia Focus, Kuala Lumpur 13 February 2018
6. Corporate Governance Briefing session: MCCG 28 February 2018
Reporting & CG Guide, Kuala Lumpur
7. Credit Suisse Asian Investment Conference, Hong 19 to 20 March 2018
Kong
8. SGX Corporate Connect Seminar, Singapore 22 March 2018
9. Invest ASEAN Singapore 2018 27 to 28 March 2018
10. Macquarie ASEAN Conference, Singapore 28 August 2018

OVERVIEW STATEMENT
(CONT’D)

Dato’ Lim Han Boon 1. Fraud Risk Management Workshop by Bursa 26 September 2017
Malaysia, Kuala Lumpur
2. Smart Sourcing Summit ~ Sustainable Growth in a 2 November 2017
“VUCA” environment, Kuala Lumpur
3. CG Breakfast Series with Directors ~ Integrating an 7 November 2017
Innovation Mindset with Effective Governance, Kuala
Lumpur
4. 8th International TEMOS Conference ~ Dusseldorf/ 3 to 5 December 2017
Germany "Healthcare Abroad & Medical Tourism"
5. Valuation on Mergers and Acquisitions, Kuala Lumpur 25 June 2018
6. Corporate Liability Provisions by MACC, Petaling Jaya, 2 July 2018
Selangor
7. Sustainable Capitalism Forum by Securities 16 July 2018
Commission, Kuala Lumpur
8. International Professional Practices Framework for 28 August 2018
Audit Committee by Bursa Malaysia, Kuala Lumpur
Datuk Noripah Binti Kamso 1. Valuation on Mergers and Acquisitions, Kuala 25 June 2018
Lumpur
2. Sustainability Engagement Series for Directors/Chief 5 July 2018
Executive Officers for 2018, Kuala Lumpur
3. Series 6 (The Role of Boards in Fraud Risk 20 August 2018
Management), Petaling Jaya, Selangor
Tay Seong Chee, Simon 1. Arbitration: What Every Corporate Lawyer Should 4 September 2017
Know, Singapore
2. Arbitration: Fundamentals Matters & Recent 5 September 2017
Developments, Singapore
3. International Law Year in Review, Singapore 8 February 2018
Datuk Dr. Norma Mansor 1. Mandatory Accreditation Programme, Kuala Lumpur 25 to 26 September
2017
2. CG Breakfast Series with Directors ~ Integrating an 7 November 2017
Innovation Mindset with Effective Governance, Kuala
Lumpur
3. Sustainability Engagement Series for Directors/ Chief 5 July 2018
Executive Officers, Kuala Lumpur
Sharmila Sekarajasekaran 1. IP : Moving Towards 2050, Kuala Lumpur 10 April 2018
2. National Consultation in Gender Equality, Kuala Lumpur 24 to 25 July 2018
Succession Planning
The Board is responsible for reviewing candidates for key positions namely, the Executive Chairman, Managing
Director, Executive and Non-Executive Directors and all Head of Divisions. The succession planning is to ensure
all candidates appointed to senior management positions are of sufficient calibre. The Board had adopted a
Succession Planning Policy in September 2013 ensuring that there are platforms in place to provide for the
orderly succession of senior management.
The Succession Planning Policy is made available on the Company’s website: http://www.topglove.com/
corporate-governance/
Ethical Standards, the Codes and Policy
The Directors’ Code of Conduct (“Directors’ Code”) was adopted by the Board in September 2013. The
Directors’ Code covers the principles of conflict of interests, insider dealings, integrity, law compliance obligation
and others.

OVERVIEW STATEMENT
(CONT’D)
Directors are expected to conduct themselves with the highest ethical standards and to behave ethically and
professionally at all times to promote and protect reputation and performance of the Company.
As part of the enforcement, Directors are required to submit their declaration adhering and observing to the
provisions in the Directors’ Code annually.
The Directors’ Code is made available on the Company’s website: http://www.topglove.com/corporate-

governance/
Employees’ Code of Conduct and Ethics (“Employees’ Code”) is a manual applicable to employees of Top
Glove and the Group. It guides the employee’s conduct in the workplace, business conduct when dealing with
external parties, key issues such as bribery, conflict of interests, insider trading as well as data integrity and
retention. The Employees’ Code is disseminated to the Group’s employees through its intranet.
The Employees’ Code is made available on the Company’s website: http://www.topglove.com/corporate-governance/
The Board believes that having a Whistle-Blowing Policy in place strengthens, supports good management and
at the same time demonstrates accountability, good risk management and sound corporate governance practice.
A Whistle-Blowing Policy was adopted by the Board in year 2010 and is made available on the Company’s
website: http://www.topglove.com/whistle-blowing/
The Board aims to provide a platform and to act as a mechanism for parties to channel their complaints or
to provide information on fraud, wrongdoings or non-compliance to any rule or procedure by employees or
Management of the Company. The Whistle-Blowing Policy outlines when, how and to whom a concern may be
properly raised, distinguishes a concern from a personal grievance and allows the whistle-blower the opportunity
to raise a concern outside their management line and in confidence. The identity of the whistle-blower is kept
confidential and protection is accorded to the whistle-blower against any form of reprisal or retribution. Any
concern raised will be investigated by the Top Glove Prevention and Anti-Corruption Committee and Whistle
Blowing Committee and a report and update will be provided to the Board, through the AC.
Whistle-blowers may write to the AC to communicate on any information about fraudulent actions and breaches
of ethics directly and anonymously to whistleblower2acm@topglove.com.my.
NRC
The Board had merged the Nomination Committee and Remuneration Committee into a new Committee, known
as NRC in October 2017, which aimed to improve its efficiency and effectiveness in discharging its duties. The
composition of the NRC is as follows:
(1) Tan Sri Arshad Ayub ~ Chairman

(2) Dato’ Lim Han Boon ~ Member
(3) Datuk Dr. Norma Mansor ~ Member
(4) Sharmila Sekarajasekaran ~ Member
The Board through the NRC reviewed its required mix of skills and experience and other qualities, including core
competencies in which the Director should bring to the Board. The Board has also implemented a process to be
carried out by the NRC annually for continuous assessment and feedback to the Board on the effectiveness of
the Board as a whole, the Board Committees and the contribution of each individual Director and AC member.
During the deliberation of the performance of a particular Director who is also a member of the NRC, that member
abstains from the discussions in order to avoid any conflict of interest.
During the FY2018, the NRC met four (4) times and the following key activities were deliberated:
(a) Discussed and recommended the appointment of Executive Director of the Company.
(b) Reviewed the Succession Planning and Leadership Development of the Board and senior management
team of the Company.
(c) Discussed the allocation of Employees’ Share Option Scheme (“ESOS”) to INEDs.
(d) Reviewed its TOR and recommended the same to the Board for adoption.
(e) Reviewed the Organisation Chart of the Company.
(f) Deliberated on the findings of the Board’s and Board Committees’ assessments and reported the findings
in the Board meeting.
(g) Discussed and recommended to the Board the proposed Directors’ fees and Board Committees’ fees for
the FY2018, benchmarked with industry survey.
(h) Reviewed the payment of Directors’ benefits (excluding Directors’ fees) to Non-Executive Directors.
(i) Reviewed and recommended to the Board for approval of the remuneration packages for Executive Directors
and related employees.
(j) Recommended the re-election, re-appointment and retention of Directors.
OVERVIEW STATEMENT
(CONT’D)
Board Mix and Skillsets Matrix
The Board is ultimately responsible for the oversight and review of the management, administration, compliance
and overall governance of Top Glove. Consequently, the Board has been evaluated based on the following
matrixes, which capture the key skills of the Board members which it believes are critical to succeeding in its
objectives.
The Board presently possesses the following blend of skills, which are the appropriate mix of skills and experience
required for the Board:
(a) Corporate Governance, Risk Management and Internal Controls

(b) Financial, Audit, Accounting and Taxation
(c) Strategic Planning
(d) Human Resource/Executive Performance Review
(e) Legal, Regulatory and Compliance
(f) Market Development
The evaluation result allows the NRC to address the evaluation assessment and the training needs of the Directors
effectively.
Board Membership Criteria
In reviewing and recommending to the Board any new Director appointment, the NRC considers:
(a) Age, skills, knowledge, expertise, experience, professionalism, integrity, capabilities and such other
factors which would contribute to the Board’s collective skills;
(b) Competing time commitments if the candidate has multiple board representations;
(c) Composition requirements for the Board and Board Committees; and
(d) Independence, for the appointment of an INED.
Boardroom Appointments
The selection, nomination and appointment of suitable candidates to the Board follow a transparent process.
Review of candidates for Board’s appointment has been delegated to the NRC. The NRC is also responsible to
review the existing composition of the Board, identifying the gaps and subsequently review and recommend to
the Board a suitable candidate with the relevant skillsets, expertise and experience.
Top Glove’s Boardroom appointment process is as follows:
NRC
conducts annual Board
NRC identifies Evaluation on Interviews the Final
assessment approves the
the “Potential the “Potential shortlisted recommendation
and review, appointment
Candidates” Candidates” candidates to the Board
identify gaps/ of Director
vacancy
Board Induction/Orientation Programme
The Board’s Induction/Orientation is a programme co-ordinated by the Company Secretaries together with
the Executive Director and head of business units with the objectives of providing newly appointed Directors
the necessary information and overview to assist them in understanding the operations, corporate strategies,
current issues and challenges, structure and the management of the Company, as well as on-site briefings or
site visits for better understanding of the operations aspect of the Company.
Board, Board Committees and Individual Director Assessment
The Board undertakes annual evaluation for the FY2018 via an Online Assessment system to review their own
performance, the effectiveness of the Board as a whole, the contribution of each individual Director and peers,
independency of INEDs and the Board’s mix and skillset.

OVERVIEW STATEMENT
(CONT’D)
The assessment of the Board covers areas such as the Board structure, operation, roles and responsibilities,
Chairman’s roles and responsibilities and the performance of the Board Committees. For self and peer
assessments, the assessment criteria have included Board interaction and contribution, quality of input to the
Board and Directors’ calibre and personality.
As for the AC, an effective evaluation as a whole and member’s self and peers’ evaluation, Internal Audit function
and the External Auditors performance and independence, were assessed. The assessment criteria include the
quality and composition, skills and competencies, meeting administration and conduct, the effectiveness of
Internal Audit function and the quality, performance, independency and the adequacy of audit scope of External
Auditors.
NRC conducts review annually on its required mix of skills and experience and other qualities, including core
competencies in which the Directors should bring to the Board.
The NRC is entrusted with the responsibility of carrying out annual Board effectiveness evaluation, the annual
AC’s term of office and performance evaluation and to authorise the evaluation process to ensure it meets the
objectivity, including to review and approve all the evaluation forms/questionnaires, review the results of the
evaluation and finally to convey the results to the respective parties for improvement and enhancement.
The evaluations were facilitated by the Company Secretaries making references to the guides available and the
good corporate governance compliance companies.
The results of the evaluations indicated that the Board comprised highly competent Directors and has been
effective in discharging its oversight responsibilities. The suggested areas for improvement were in respect
of succession planning for the Board Committees. The results and comments from the Directors, concerning
the Board as a whole and the general performance of the Directors, were also presented to the Board upon
reviewed by the NRC and the NRC had also made its recommendations to the Board.
Time Commitment
Paragraph 15.06 of Bursa Securities Main LR provides a director of a listed company must not hold more than
five (5) directorships in listed companies.
Save for the Executive Chairman, Tan Sri Dr Lim Wee Chai, who was appointed as Deputy Chairman (Non-
Independent Non-Executive) of Tropicana Corporation Berhad, none of the Executive Directors of the Company
serve as a director of other listed companies.
Key Information on Directors
A brief description of the background of each Director is presented on pages 10 to 17 of this Annual Report. The
Directors proposed for re-election are stated in the Notice of AGM.
No alternate Director has been appointed in respect of any of the Directors, during the FY2018.
Greater Transparency on Remuneration
A Remuneration Policy was adopted by the Board in October 2015. The Remuneration Policy was adopted
to ensure that the Non-Executive Directors are commensurate according to their level of responsibilities
and experience and to structure the component parts of remuneration so as to link rewards to corporate
and individual performance of Executive Directors and ensure it was aligned with the business strategy and
long-term objectives of the Company. The performance of the Executive Director is measured based on the
achievements of his annual key performance indicators as well as the performance of the Group.
The Company rewards its employees and the Executive Directors with options under the ESOS and shares
under the Employees’ Share Grant Plan (“ESGP”). The Executive Directors are not entitled to receive meeting
allowances for the Board and Board Committees meetings they have attended. The details of the vesting of
options under the ESOS and awards of shares under the ESGP are set out on pages 98 to 99 of this Annual
Report under the Directors’ Report of the Audited Financial Statements for the FY2018.
Whereas, the Non-Executive Directors are entitled to receive meeting allowances for the Board and Board
Committees meetings they have attended but are not entitled to participate in the ESOS and ESGP.

OVERVIEW STATEMENT
(CONT’D)
The details of the Directors’ remuneration comprising remuneration received/receivable from the Company and
the subsidiaries in FY2018 are as follows:
(i) Received from Top Glove

Other Benefit-
Salaries Fees Bonus ESOS Emolument in-kind Total
RM RM RM RM RM RM RM
Executive Directors
1. Tan Sri Dr Lim Wee Chai 2,301,910 119,000 281,905 112,850 236,380 31,150 3,083,195
2. Puan Sri Tong Siew Bee - 73,000 - - - - 73,000

3. Dato’ Lee Kim Meow - 83,000 - - - - 83,000
4. Lim Hooi Sin - 73,000 - 15,006 - - 88,006
5. Lim Cheong Guan 523,112 73,000 91,190 33,184 74,612 19,290 814,388
6. Low Chin Guan - 28,000 - - 1,000 - 29,000
(appointed as Executive
and removed on 10
October 2018)
Non-Executive Directors
7. Tan Sri Arshad Ayub - 117,500 - - 15,032 - 132,532
8. Dato’ Lim Han Boon - 91,000 - - 18,282 - 109,282
9. Tan Sri Rainer Althoff - 79,500 - - 11,032 - 90,532
10. Datuk Noripah Binti - 81,200 - - 12,532 - 93,732
Kamso
11. Sharmila Sekarajasekaran - 82,800 - - 13,032 - 95,832
12. Tay Seong Chee, Simon* - SGD - - SGD - SGD
72,600 677 73,277
13. Datuk Dr. Norma Mansor - 82,800 - - 12,532 - 95,332
Total 2,825,022 1,201,600 373,095 161,040 396,466 50,440 5,007,663
Note: * Mr. Tay Seong Chee, Simon’s Director’s fees and other emolument were received or receivable
in Singapore Dollar.

OVERVIEW STATEMENT
(CONT’D)
(ii) Received on Group Basis

Other Benefit-
Salaries Fees Bonus ESOS Emolument in-kind Total
RM RM RM RM RM RM RM
Executive Directors
1. Tan Sri Dr Lim Wee Chai 2,301,910 119,000 281,905 112,850 236,380 31,150 3,083,195
2. Puan Sri Tong Siew Bee 168,196 73,000 16,570 5,551 22,294 35,200 320,811
3. Dato’ Lee Kim Meow 587,356 83,000 92,874 37,210 81,637 19,371 901,448
4. Lim Hooi Sin 726,984 77,039 - 15,006 - - 819,029
5. Lim Cheong Guan 523,112 73,000 91,190 33,184 74,612 19,290 814,388
6. Low Chin Guan 440,000 28,000 - - 83,949 - 551,949
(appointed as Executive
and removed on 10
October 2018)
Non-Executive Directors
7. Tan Sri Arshad Ayub - 117,500 - - 15,032 - 132,532
8. Dato’ Lim Han Boon - 91,000 - - 18,282 - 109,282
9. Tan Sri Rainer Althoff - 79,500 - - 11,032 - 90,532
10. Datuk Noripah Binti - 81,200 - - 12,532 - 93,732
Kamso
11. Sharmila Sekarajasekaran - 82,800 - - 13,032 - 95,832
12. T
ay Seong Chee, Simon* - SGD - - SGD - SGD
72,600 677 73,277
13. Datuk Dr. Norma Mansor - 82,800 - - 12,532 - 95,332
Total 4,747,558 1,205,639 482,539 203,801 583,346 105,011 7,327,894
Note: * Mr. Tay Seong Chee, Simon’s Director’s fees and other emolument were received or receivable
in Singapore Dollar.
Other Board Committees
The following Board Committees were established to support and strengthen the Board:
• AC, details as stated on page 89 of this Annual Report.

• RMC, details as stated on page 86 of this Annual Report.
• NRC, details as stated on page 73.
• IC, details as stated below.
The IC was established to provide guidance on the fund investments of the Company. The existing members of
IC consist of the following:
(1) Tan Sri Dr Lim Wee Chai ~ Chairman

(2) Tan Sri Arshad Ayub ~ Member
(4) Dato’ Noripah Binti Kamso ~ Member
(5) Lim Cheong Guan ~ Member
For the FY2018, the IC met twice and the key activities undertaken by the IC are as follows:
(a) Reviewed the Bond investment portfolios of the Company to ensure that the target yield is achieved.
(b) Reviewed the overseas investment and potential of listing of overseas subsidiary.
(c) Briefed on the global market outlook by bankers.

OVERVIEW STATEMENT
(CONT’D)
ESOS Committee
The Company, with approval from the shareholders in its Extraordinary General Meeting held on 9 January
2008, had established the ESOS II and the ESOS II was officially implemented on 1 August 2008 and expired
on 1 August 2018. The Company had also obtained its shareholders’ approval on the establishment of ESOS III
during its EGM held on 9 January 2018. The ESOS III had been duly implemented with effect from 1 June 2018.
The ESOS Committee established by the Board on 11 April 2003 continued to oversee the administration as
well as to ensure proper implementation of ESOS according to the By-laws of ESOS. In order to institute a
good corporate governance practice, the Board had at its meeting held on 11 October 2018 revamped the
composition of the ESOS Committee which now consisted of majority INEDs, as below:

(3) Lim Jin Feng ~ Member
(5) Datuk Noripah Binti Kamso ~ Member
During the FY2018, the ESOS Committee had considered and approved the options offer factors under the
ESOS to the eligible employees of the Group.
ESGP Committee
The ESGP was approved by the shareholders of the Company at the Extraordinary General Meeting held on 6
January 2016.
The Board had established the ESGP Committee to administer the ESGP in accordance to the By-laws of ESGP.
In order to institute a good corporate governance practice, the Board had at its meeting held on 11 October
2018 revamped the composition of the ESGP Committee which now consisted of majority INEDs, as below:

(3) Lim Jin Feng ~ Member
(5) Datuk Noripah Binti Kamso ~ Member
During the FY2018, the ESGP Committee had considered and approved the award factors under the ESGP to
the eligible employees of the Group.
Senior Management Team
The Board is not involved in the day-to-day operations whereby the Board has delegated the authority and
accountability for the day-to-day business operations of the Company, its subsidiaries and their respective
operations to the senior management team led by the Managing Director and Executive Directors who report
periodically to the Group Executive Chairman, Board and Board Committees. The senior management team
is responsible for assisting the Managing Director and Executive Directors in implementing the policies and
procedures adopted by the Board to achieve the Group’s objectives.
The Board has unrestricted access to any information pertaining to the Group and any assistance of the
senior management team. The senior management team would be invited to attend the Board and the Board
Committees meetings as and when required and to provide explanations or clarifications on their respective
areas of responsibility.

OVERVIEW STATEMENT
(CONT’D)
The Board acknowledged the recommendation of MCCG to disclose the remuneration of top nine (9) senior
management on a named basis in bands of RM50,000. However, the Board took cognisance of the confidentiality
and sensitiveness of the staff’s remuneration and competitiveness from the outside world, the Board wished to
stress the importance of the stability and continuity of the business operations supported by a competent and
experienced executive team in place. For this disclosure, the Board is of the view that the disclosure be made
on the following aggregate basis is suffice for stakeholders to make an appreciable link between remuneration
of senior management and the performance of the Group:
Range of Remuneration (Annual basis) (RM) Top Nine (9) Senior Management Team
150,001 to 200,000 1
250,001 to 300,000 1
350,001 to 400,000 2
400,001 to 450,000 3
450,001 to 500,000 1
600,001 to 650,000 1
PRINCIPLE B: EFFECTIVE AUDIT AND RISK MANAGEMENT
Strengthen the Independence and Effectiveness of the AC
The Board is committed to provide a balanced, fair and comprehensive assessment of the Company’s state of
affairs in its financial statements. To ensure this, adequate financial processes are in place, aimed at keeping
the Group’s accounting records and transactions in accordance with accepted accounting standards. This also
helps to safeguard the preparation of annual financial statements which present a true and fair view of the state
of affairs of the Group and the Company at the reporting dates.
The Board is also committed to ensure that it presents a balanced and comprehensive assessment of the
operations and financial results of the Group on a quarterly basis. It releases the quarterly financial report upon
the Board’s approval and in any event not later than two (2) months after the end of each quarter of its financial
year for public announcement together with the required disclosure of Bursa Securities Main LR.
These quarterly reports are published in a condensed format with full financial statements prepared.
The AC was established to assist the Board in overseeing the Group’s activities within its clearly defined TOR.
The Directors’ Responsibility Statement for the Audited Financial Statements of the Company is set out on page
93 of this Annual Report. The details of the Company and the Group’s Audited Financial Statements for the
FY2018 are made available on pages 95 to 186 of this Annual Report.
The NRC shall review the term of office and performance of the AC and each of its members annually to
determine whether such AC and its members have carried out their duties in accordance with their TOR.
The Board has full access to both Internal and External Auditors and receives reports on all audits performed
by them via the reports made by AC in Board meetings.
External Auditors and its Independence
The AC maintains a transparent and professional relationship with the External Auditors of the Company.
The AC is assigned to assess, review and supervise the performance, suitability and independence of the External
Auditors. An External Auditors Assessment Policy was adopted by the AC which outlined the guidelines and
procedures for the AC to assess and review the performance, suitability and independence of External Auditors.
The AC invites the External Auditors to attend all its meetings as and when required. The External Auditors
had met the AC six (6) times during the reporting year. During the meetings, the External Auditors highlighted
and discussed the nature, scope of the audit, audit programme, internal controls and issues that required the
attention of the AC or the Board.
The AC had met with the External Auditors separately without the presence of Executive Directors and
Management twice during the FY2018 to discuss on matters relating to the Group and its audit activities.

OVERVIEW STATEMENT
(CONT’D)
The External Auditors Assessment Policy adopted by the Company restricts the type of non-audit services that
can be provided by the External Auditors of the Group and the approval process related to them. Under this Policy,
only non-audit services which are able to provide clear efficiencies and value-added benefits to the Group are
accepted by the AC. The External Auditors Assessment Policy in place also ensure that the External Auditors’
independence and the provision of non-audit works does not impede the External Auditors’ audit works.
The AC remains confident that the objectivity and independence of the External Auditors are not in any way
impaired by reason of the non-audit services provided to the Group.
The External Auditors have confirmed to the AC that they are, and have been, independent throughout the
conduct of the audit engagement in accordance with the independence criteria set out by the International
Federation of Accountants’ Code of Ethics for Professional Accountants and the Malaysian Institute of Accounts’
By-Law (on Professional Ethics, Conduct and Practice).
Details of statutory audit, audit-related and non-audit fees paid/payable in the FY2018 to the External Auditors
are set out below:
Type of Fees Top Glove Top Glove Group

(RM) (RM)
(a) Audit fees ~ Ernst & Young Malaysia 85,000 316,000
(b) Non-audit fees ~ Ernst & Young Malaysia 91,000 215,000
~ Affiliate to Ernst & Young Malaysia 850,000 850,000
(c) Tax compliance fees ~ Ernst & Young Malaysia - 51,000
Total: 1,026,000 1,432,000
Related Party Transactions (“RPT”)
A RPT Policy was developed and put in place in June 2016 to provide an avenue for employees to understand the
policies and procedures that need to be adhered to in identifying and treating RPTs to ensure compliance with
Bursa Securities Main LR and other applicable laws. The said Policy outlines the framework and the processes
for purposes of identifying, monitoring, evaluating, reporting and approving the RPTs and recurrent related
party transactions (“RRPTs”). It also serves as a guide to the AC and Board in discharging its role, which is to
provide oversight over RPTs and RRPTs within the Group.
Significant RPTs of the Group for the FY2018 are set out on page 173 of this Annual Report. The AC had
reviewed the RPTs that arose within the Group to ensure that the transactions were fair, reasonable and on
normal commercial terms as well as not detrimental to the minority shareholders and were in the best interests
of the Company.
Facilitate Objective Oversight by the Board of the AC
Minutes of each AC meeting is noted by the Board via distribution to each Board member and the Chairman of
the AC highlights on key issues at each Board meeting.
The performance and effectiveness of AC would be assessed annually through AC evaluation and AC members
self’s and peers’ evaluation conducted by the AC, and NRC reviewed the results of such assessments. The
NRC reviews the term of office and performance of the AC members annually. During the FY2018, the Board is
satisfied that the AC and its members have been able to discharge their functions, duties and responsibilities in
accordance with the TOR of the AC.
Dedicated RMC
The Board and Management have embarked on the risk management culture and endeavour to ensure that
the Group’s employees have a good understanding and application of risk management principles towards
cultivating a sustainable risk management culture. The Board undertakes to conduct regular risk awareness
sessions at the operational level to promote the understanding of risk management principles and practices
across different functions within the Group.
The Board is responsible of identifying principal risks and ensures the implementation of a dynamic system to
manage risk exposure within the acceptable level of tolerance. To fulfil its oversight responsibility, the Board, as a
whole or through delegation to the RMC reviews the adequacy and integrity of the Group’s risk management system
which encapsulates the key processes of risk identification, assessment, mitigation, monitoring and reporting.

OVERVIEW STATEMENT
(CONT’D)
Ensure the Internal Audit function is effective and independent
The Internal Audit (“IA”) Department carries out the IA function, which reports directly to the AC on its activities
based on the approved annual IA plan.
The Board acknowledges its responsibility for maintaining a sound system of internal controls, which provides
reasonable assessment of effective and efficient operations, internal financial controls, and compliance with
laws and regulations as well as with internal procedures and guidelines.
The AC had met with the Internal Auditors separately without the presence of Executive Directors and
Management once (1) during the FY2018 on any matters relating to the Group and IA activities.
The appointment, resignation and dismissal of the Head of IA is reviewed and approved by the AC and the Head
of IA has unfettered access to the AC, the Board and the Management.
An IA Charter was adopted in year 2013 aimed to formalise the Mission Statement of Top Glove’s IA Department
and established its position within the Company to ensure its access to various records, departments and
activities, its responsibility and independence.
The Mission Statement of IA is to provide an independent, objective assurance and consulting activity designed
to add value and improve Top Glove’s operations and internal controls and assist the Company to accomplish
its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk
management, control and governance processes.
An overview of the state of internal control within the Group, which includes the risk and key internal control structures,
are set out in the Statement on Risk Management and Internal Control on pages 86 to 88 of this Annual Report.
PRINCIPLE C: INTEGRITY IN CORPORATE REPORTING AND MEANINGFUL RELATIONSHIP WITH

STAKEHOLDERS
Corporate Disclosure
The Board reviews and approves all quarterly and other important announcements. The Company announces
its quarterly and full year results within the mandatory period. The financial statements and press releases
including material and price sensitive information are disseminated and publicly released via Bursa LINK on a
timely basis to ensure effective dissemination of information relating to the Group.
The Board has formalised a set of Corporate Disclosure Policy to ensure that communications to the public
regarding the Group are timely, factual, accurate and complete. The said Policy outlines the central principles
and practices in communicating with the investors, shareholders, medias and regulators.
Effective Dissemination of Information
n effective communication channel between the Board, stakeholders, institutional investors and the investing
A
public at large is essential to provide a clear and complete picture of the Group’s performance and development,
in a comprehensive, timely and continuing disclosure manner. Essentially, the Board is fully committed in
maintaining a high standard in the dissemination of relevant and material information on the development of the
Group.
The Company has had always been providing as much information on a voluntary basis in addition to complying
with Bursa Securities Main LR through media releases. The Board is mindful of the legal and regulations governing
the release of material and sensitive information so as not to mislead shareholders. Therefore, information that
is price-sensitive or any undisclosed material information about the Group is not disclosed to any party until it
is ready for simultaneous distribution.

OVERVIEW STATEMENT
(CONT’D)
The Company has been using the following formal channels to communicate with shareholders and stakeholders:
• Annual Report
The Annual Report remains a major channel of communication disclosing information not only on the
Group’s businesses, financials and additional information such as the Company’s mission and vision,
operations performance, outlooks and senior management team. The Board constantly improve the
contents of the Annual Report to incorporate developments among others, in corporate governance and
reports of Board Committees and ensure the accuracy of the information as the Annual Report is a vital
and convenience source of essential information for investors, shareholders and other stakeholders.
The Chairman and Executive Director oversee the production of the Annual Report and review its contents
before it is published.
Annual Reports of the Company are available online at the Company’s website: http://www.topglove.com/
annual-report/
Corporate related queries may be referred to the Company Secretary, Ms. Kassy Lim (Contact no.:
+603-3362 3098, Fax no.: +603-3362 3860, E-mail: kslim@topglove.com.my).
• Announcements to Bursa Securities
All announcements are made via Bursa LINK. Examples of announcements are the quarterly financial
results, circulars, corporate exercises, corporate changes and others. The Board is entrusted to review
and approve the announcements ensuring its full compliance with regulatory authorities’ disclosure
requirements.
All announcements are made available at the Company’s website: http://www.topglove.com/bursa-

announcements/
Announcements related queries may be referred to the Company Secretary, Ms. Kassy Lim (Contact no.:
+603-3362 3098, Fax no.: +603-3362 3860, E-mail: kslim@topglove.com.my).
• Quarterly Results and Analyst and Media Briefings
Analyst and media briefing via conference call is usually held immediately after the release of quarterly
financial results to Bursa Securities or an actual briefing is held a week after the release of the quarterly
financial results and chaired by the Executive Chairman, Managing Director and Executive Director.
This briefing provides an avenue for fund managers, research analysts and media to have dialogue with
the Group’s Management to facilitate the receiving of a balanced and complete view of the Group’s
performance and challenges at the timeliest manner.
• Investor Relations (“IR”)
The IR team has been scheduling regular engagement sessions with investors and are usually attended by
the Executive Director and the IR team.
The IR team also attends to conferences, non-deal roadshows, and one-on-one meetings with equity
analysts, fund managers and institutional shareholders to provide updates on the Company’s quarterly
financial performance, corporate and regulatory developments as well as to discuss on strategic matters
and address issues that the investing community may have with respect to the businesses or operations
of the Company.

OVERVIEW STATEMENT
(CONT’D)
Some of the investor conferences and roadshows attended by our IR team in FY2018 are as follows:
No. Conference Date

1. Daiwa Investment Conference Hong Kong 2017 November 2017
2. Morgan Stanley Sixteenth Annual Asia Pacific Summit November 2017
3. CIMB 10th Annual Malaysia Corporate Day January 2018
4. DBS Pulse of Asia 2018 January 2018
5. Invest Malaysia 2018 January 2018
6. Nomura Malaysia Focus Kuala Lumpur February 2018
7. Credit Suisse Asian Investment Conference March 2018
8. SGX Corporate Connect Seminar Singapore March 2018
9. Invest ASEAN Singapore 2018 March 2018
10. SGX-MKES Healthcare Day May 2018
11. Invest Malaysia United Kingdom 2018 June 2018
12. Invest Malaysia Tokyo 2018 July 2018
13. Macquarie ASEAN Conference, Singapore August 2018
Investor queries pertaining to financial performance or developments may be directed to the Executive
Director, Mr. Lim Cheong Guan (Contact no.: +603-3362 3098, Fax no.: +603-3362 3860, E-mail: invest@
topglove.com.my)
• Company Website
The Group has established a comprehensive website at www.topglove.com which includes a dedicated
section on IR to further enhance shareholders’ communication.
The Group has also included a Corporate Governance section on its website where information such as
the Board Charter, Directors’ Code, Employees’ Code, Succession Planning Policy, Corporate Disclosure
Policy, Whistle-Blowing Policy and various governance compliance statements are made available to the
shareholders and public at http://www.topglove.com/corporate-governance/
To better serve stakeholders of the Group, a feedback page on the website provides an avenue for
stakeholders to suggest improvements to the Group via email: invest@topglove.com.my. In addition,
stakeholders who wish to reach the respective divisions of the Group can do so through the ‘Contact Us’.
Encourage shareholders’ participation at general meetings
The Company despatches its Annual Report to all shareholders of the Company which includes the notice of
AGM at least 28 days prior to the AGM. In addition to sending the notice, the Company also published the Notice
of AGM on its website and released via Bursa LINK.
The AGM is the principal forum for dialogue with shareholders. A member of the Company entitled to attend and
vote at the meeting is entitled to appoint not more than two (2) proxies to attend and vote in his stead. A proxy
may but need not be a member of the Company and a member may appoint any person to be his proxy. There
shall be no restriction as to the qualification of the proxy. A proxy appointed to attend and vote at the meeting
shall have the same rights as the member to speak at the meeting.
During the AGM, a presentation is given by the Chairman, Managing Director and Executive Director to explain
on the Group’s strategy, performance and major developments to shareholders. The Board encourages
shareholders to participate in the questions and answers session at every general meeting. The Directors also
shared with the shareholders of the Company’s responses to questions raised by Minority Shareholder Watch
Group, submitted in advance of the AGM.
Outcome of the AGM on all resolutions proposed at the AGM is submitted to Bursa Securities at the end of the
meeting day. The Board has ensured that each item of special businesses included in the notice of the AGM is
accompanied by a full explanation of the effects of a proposed resolution.

OVERVIEW STATEMENT
(CONT’D)
The extract of minutes of general meetings (including the attendance of Directors, questions raised by
shareholders and the respective responses, outcome of the voting results and the reply to the Minority
Shareholder Watch Group’s queries) are made available to the shareholders and public for reference at http://
www.topglove.com/general-meeting/
Using technology to facilitate voting and shareholders participation at meetings
The Company had implemented the poll voting via electronic means for past AGMs. The verification and
counting of votes were done expeditiously. In addition, the Company has appointed a scrutineer to validate the
votes cast at the AGM.
The result of each resolution was announced, which includes votes in favour and against and upon which the
Chairman declared whether the resolutions were carried. The poll results were also announced by the Company
via Bursa LINK on the same day for the benefit of all shareholders.
Effective communication and proactive engagement
The Company endeavours to maintain an open and transparent channel of communication with its stakeholders,
institutional investors and the investing public at large with the objective of providing as clear and complete
picture of the Group’s performance and financial position as possible.
The Chairman of the AC, NRC and the External Auditors were present at the last AGM and will endeavour to be
present at the forthcoming AGM to assist the Directors in addressing queries raised by the shareholders. Based
on the past, the Company’s AGM have been well attended. It has always been the practice for the Chairman to
provide ample time for the questions and answers sessions during the AGM.
Shareholders were given a copy of suggestion form to invite shareholders to feedback and comment for notation
by Management for consideration. Shareholders were also invited to submit any additional questions they might
have had via help desk counter at the venue of the general meeting so that these could be responded to in writing
after the meeting. Officers of the Company were present to assist and answer any queries raised by shareholders.
During the FY2018, the Company also had regular meetings with analysts and institutional fund managers,
participated roadshows and investors conferences, both domestically and internationally, and hosted
teleconferences with investors and analysts.
Summary of Corporate Governance Practices
Overall, the Company has applied all the Practices encapsulated in MCCG for the FY2018 except for the following:
• Practice 7.2: The board discloses on a named basis the top five senior management’s remuneration
component including salary, bonus, benefits in-kind and other emoluments in bands of RM50,000.
• Practice 8.2: The AC has a policy that requires a former key audit partner to observe a cooling-off period
of at least two (2) years before being appointed as a member of the AC.
• Practice 11.2: Large companies are encouraged to adopt integrated reporting based on a globally
recognised framework.
• Practice 12.3: Listed companies with a large number of shareholders or which have meetings in remote
locations should leverage technology to facilitate:
** voting including voting in absentia; and

** remote shareholders’ participation of General Meetings.
The Company has provided explanations for the departures from the said Practices and measures that the
Company will take to achieve the intended outcome of the departed Practices in the CG Report.

OVERVIEW STATEMENT
(CONT’D)
OTHER COMPLIANCE INFORMATION
1. Utilisation of Proceeds
The Company did not raise funds through any corporate proposal during the financial year ended 31
August 2018 (“FY2018”).
2. Recurrent Related Party Transactions of a Revenue or Trading Nature
The Shareholders’ Mandate for the Recurrent Related Party Transactions of a Revenue or Trading Nature
was not renewed since the Nineteenth Annual General Meeting (“AGM”).
3. Material Contracts
During the FY2018, there were no material contracts entered into by the Company and its subsidiaries
involving Directors’, chief executive’s and/or major shareholders’ interests.
4. Material Contracts Relating to Loans
During the FY2018, there were no material contracts relating to loans entered into by the Company and its
subsidiaries involving Directors’, chief executive’s and/or major shareholders’ interests.
5. Insider Trading
During the FY2018, there was no insider trading reported.
6. Employees’ Share Option Scheme (“ESOS”)
During the FY2018, a total of 3,425,360 new ordinary shares were issued and allotted pursuant to the exercise
of the ESOS. The details of the issued and paid-up share capital of the Company as at 31 August 2018 are
as follows:
No. of Shares RM
As at 1 September 2017 1,256,298,764 636,643,620.16
Ordinary shares issued pursuant to the ESOS 3,425,360 11,971,936.00
Ordinary shares issued as satisfaction of consideration 20,505,000 137,000,000.00
for acquisition of Aspion Sdn Bhd
ESOS compensation reserve - 2,093,269.00
As at 31 August 2018 1,280,229,124 787,708,825.16
During the financial year, the number of ESOS option granted under ESOS III was 3,166,600 options. The
percentage of ESOS option granted to the Directors and senior management was 21.9% of the total ESOS
option granted.
The number of ESOS option granted and exercised by the Directors are disclosed on page 98 of this
Annual Report.
7. Employees’ Share Grant Plan (“ESGP”)
During the financial year, 93,700 shares were awarded to the eligible employees under the ESGP. The
percentage of shares awarded to the senior management was 0.35% of the total shares awarded.
There were no shares awarded to the Directors pursuant to the ESGP in FY2018.

STATEMENT ON RISK MANAGEMENT
AND INTERNAL CONTROL
BOARD RESPONSIBILITY
The Board is committed to establish and maintain a sound, effective and efficient system of risk management
and internal control to safeguard shareholders’ investment and the Group’s asset. There is an ongoing review
process undertaken by the Board to ensure adequacy and integrity of the system mentioned.
The system of risk management and internal control is designed to identify and manage the Group’s risk within
the acceptable risk tolerance, rather than to eliminate the risk of failure in achieving the Group’s corporate
objective in accordance with the Group’s strategy. Accordingly, it can only provide reasonable assurance but
not absolute assurance against material misstatement, financial loss or fraud.
RISK MANAGEMENT GOVERNANCE
The Board regards risk management as an integral part of all business operations. Hence, the Board explicitly
assumes the responsibility of identifying principal risks and ensures the implementation of a dynamic system to
manage risk exposure within the acceptable level of tolerance.
To fulfill its oversight responsibility, the Board, as a whole or through delegation to the Risk Management
Committee (“RMC”), reviews the adequacy and integrity of the Group’s risk management system which
encapsulates the key processes of risk identification, assessment, mitigation, monitoring and reporting.
The members of RMC, comprising of three Independent Non-Executive Directors and two Executive Directors,
are as follows:
(1) Dato’ Lim Han Boon ~ Chairman
(2) Tan Sri Rainer Althoff ~ Member
(4) Dato’ Lee Kim Meow ~ Member
A Risk Working Committee (‘RWC”) has been formed in May 2013 to facilitate the group-wide risk management
initiative from an operational perspective. RWC serves as the driving force behind the routine risk management
activity. Its main function encompasses provision of regular feedback on risk factors’ status for informed
management decision making, execution of appropriate risk mitigation measures and progress monitoring
thereof, and identification of new and emerging risk factors.
RWC is headed by an Executive Director and comprises of heads of business units or support functions, who
are risk owners themselves, as members.
RISK MANAGEMENT SYSTEM
At the Group level, inherent risk factors arising from business operation are continuously identified. These
identified risk factors are incorporated into the risk register and individually rated as Extreme, High, Medium
or Low risk. The rating process is guided by a matrix of possibility of occurrence and the associated impacts,
of which both financial and non-financial consequences are duly considered. Thereafter, owners of these risk
factors will drive the implementation of risk mitigation measures towards achieving a residual risk that is within
the acceptable tolerance.
Progress updates on the mitigation measures will be furnished on a quarterly basis by risk owners for deliberation
at the RWC meeting from an operational perspective. Adequacy and effectiveness of the mitigation measures will
be assessed and further enhanced where necessary. In addition, any identified emerging critical risk factors will
be incorporated into the risk register and managed in accordance to the Group’s risk management methodology.
Outcome of RWC meetings will subsequently be escalated upwards to the RMC for further deliberation in a
strategic manner. Direction of mitigation measures will be fine-tuned as it deems fit to ensure action plans are
on track in addressing the significant risk factors. This approach creates a robust risk management system that
is self-sustaining and will continue to evolve in response to changing business environment.
SIGNIFICANT RISK
As depicted in the Group’s risk management framework, risks are broadly categorized into the aspects of
Business, Information, Production, Credit, Financial, Operational, Information System and Human Resources.
Identified individual risk factors under the broad risk categories have undergone comprehensive reviews in line
with the Group’s risk management methodology.

(CONT’D)
For financial year ended 31 August 2018, the key risks that warrant highlighting are as outlined below:
1. Business
Execution of Merger and Acquisition exercises poses certain associated risks, notably the evaluation
of target company and its subsequent integration with the Group. Various measures such as M&A
procedures, strengthening internal management team’s capability to handle operations after take-over
and engaging external adviser for further advice have been carried out. M&A policies are still in the midst
of being formalized.
2. Production
Due to unforeseen circumstances, the Group’s factory production lines can face unplanned downtimes
and thus result in productivity and financial losses. The 3 major risk factors which potentially contribute to
the above are identified as fire outbreak, flooding and water shortage. Ongoing mitigation measures are
implemented and tested by the Group to curb occurrences of these risk factors to prevent interruption to
production or temporary shutdown of factory.
3. Information System
The Group’s business may be vulnerable to security breaches to key systems, assets and facilities resulting
from cyber vandalism or sabotage. Potential disruptions to operational systems or destruction of facilities
from such security breaches can adversely affect the Group’s reputation, business and financial result. To
mitigate the risk, the Group is vigilant on potential cyber threats and has been continuously upgrading and
enhancing the Group’s security system.
4. Financial
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 material in glove manufacturing which are natural rubber latex and nitrile latex. Major movements in
key foreign currency exchange rates, such as US Dollar, and the related commodity prices will create a
short-term impact on the Group’s financial performance due to time lag effect of the cost pass-through
mechanism. The Group is thus constantly monitoring these risk factors and endeavors to achieve an
effective and efficient cost pass-through mechanism to minimize the impact on its financial performance
caused by macro factors.
INTERNAL CONTROL GOVERNANCE
The Management team, led by Executive Chairman, Managing Director and Executive Directors, comprises
experienced personnel who are subject matter experts in their own specialized fields. These individual members
in the Management team are held accountable for the conduct and performance within their assigned business
units/ support functions. Internal control principles are strongly advocated and thus embedded into the various
day-to-day operational policies and procedures of the business units/ support functions concerned. At regular
intervals, these assigned business units/ support functions will conduct management meetings for the business
objectives of, among others, performance assessment, action plan progress monitoring and feedback for
improvement.
To fulfill its oversight responsibility, the Audit Committee (“AC”) is committed to review the adequacy and
effectiveness of the Group’s internal control system. In this respect, the Group’s Internal Audit Department
(”IAD”) has been set up in financial year ended 31 August 2003 to undertake the obligation to provide control
assurance services to the Group.
The External Auditor provides further assurance to the AC in the form of annual statutory audit of the financial
statements. Areas of concern identified during the course of external audit examination will be brought to the
attention of the AC through management letters and discussion at AC Meeting.
INTERNAL AUDIT FUNCTION
The Group has in place an in-house IAD which provides to the Board, through the AC, independent assessment
and assurance on the adequacy and effectiveness of the Group’s system of internal controls.

(CONT’D)
The scope of work of IAD encompasses the examination and evaluation of the adequacy, existence and
effectiveness of the system of internal control, risk management framework and corporate governance of the
group, which include, inter alia, the following:
• Reviewing the reliability and integrity of financial and operating information and the means used to identify,
measure, classify and report such information;
• Evaluating the system established to ensure compliance with policies, plans, procedures, laws, and
regulations which could have significant impact on operations;
• Examining the means of safeguarding assets and, as appropriate, verifying the existence of such assets;
• Assessing the economy and efficiency with which resources are employed;
• Appraising operations to ascertain whether results are consistent with established objectives and goals
and whether the operations are being carried out as planned;
• Report significant issues related to the business and operational processes for controlling the activities of
the Group together with recommendations for improvements by issuing periodic audit reports summarizing
results of audit activities and follow-up reports on timely basis to AC and management; and
• Assist in the investigation of significant suspected fraudulent activities and notify the AC and Top
Management of the results.
The audit reports are presented and tabled at AC meetings quarterly to preserve its independence and
objectivity. Significant internal audit findings and status update on outstanding management action plan will be
brought to the attention of AC. If deemed necessary, management representative will be required to attend AC
meeting to provide explanation and propose an action plan on the unresolved issues.
REVIEW OF EFFECTIVENESS
The Board is dedicated to operating a sound system of risk management and internal controls, and recognizes
that the system must continuously evolve to support the progressive business growth of the Group.
The process for identifying, evaluating and managing risks as outlined in this Statement has been in place for
the year under review and up to the date of approval of this statement. During the financial year ended 31 August
2018, a number of improvements to internal control gaps has been implemented. There has been no material
adverse impact to the financial performance of the Group as a result of the internal control gaps detected.
The Board, with the assurance received from the Executive Chairman, Managing Director and its Executive
Director, concludes that the Group’s risk management and internal control system is operating adequately and
effectively, in all material aspects.
This statement does not include the state of internal control in associate companies, which has not been
dealt with as part of the Group and is made in accordance with a resolution of the Board of Directors dated
11 October 2018.
REVIEW OF THE STATEMENTS BY EXTERNAL AUDITORS
The External Auditors have performed limited assurance procedures on this Statement on Risk Management
and Internal Control pursuant to the scope set out in Audit and Assurance Practice Guide (“AAPG”) 3, Guidance
for Auditors on Engagements to Report on the Statement on Risk Management and Internal Control included
in the Annual Report issued by the Malaysian Institute of Accountants for inclusion in the Annual Report of the
Group for the FY2018, and reported to the Board that nothing has come to their attention that causes them to
believe that this Statement included in the Annual Report is not prepared, in all material respects, in accordance
with the disclosures required by Paragraphs 41 and 42 of the Statement on Risk Management and Internal
Control: Guidelines for Directors of Listed Issuers , nor is the Statement factually inaccurate.
AAPG 3 does not require the External Auditors to consider whether the Directors’ Statement on Risk Management
and Internal Control covers all risk and controls, or to form an opinion on the adequacy and effectiveness of the
Group’s risk management and internal control system including the assessment and opinion by the Directors
and Management thereon. The report from External Auditors was made solely for, and directed solely to the
Board of Directors in connection with their compliance with the Bursa Malaysia Securities Berhad Main Market
Listing Requirements and for no other purposes or parties. The External Auditors do not assume responsibility
to any person other than the Board of Directors in respect of any aspect of this Statement.

AUDIT COMMITTEE REPORT
The Audit Committee (“AC”) of Top Glove Corporation Bhd (“the Company”) is pleased to present the AC Report
for the financial year ended 31 August 2018 (“FY2018”).
AC COMPOSITION AND ATTENDANCE
The AC comprises four (4) members and all of whom are Independent Non-Executive Directors, which meets the
requirements of paragraphs 15.09(1)(a) and (b) of Bursa Malaysia Securities Berhad (“Bursa Securities”) Main
Market Listing Requirements (“Main LR”).
Tan Sri Dato’ Seri Utama Arshad Bin Ayub (“Tan Sri Arshad”), Chairman of AC, had a distinguished career in
the Malaysian Civil Service, held various positions, including Deputy Governor of Bank Negara Malaysia and
Deputy Director General in the Economics Planning Unit of the Prime Minister’s Department. Nevertheless, Tan
Sri Arshad has other directorships in several public listed companies where he is also the member of AC.
Dato’ Lim Han Boon, member of AC, is a member of the Malaysian Institute of Accountants, the Chartered
Management Institute, United Kingdom (“UK”) and fellow of the Association of Chartered Certified Accountants,
UK, fulfills the financial expertise as required by Bursa Securities Main LR. He also has vast working experience
in areas of corporate finance.
Datuk Noripah Binti Kamso, member of AC, has vast experience in the Banking and Investment industry. She
was the former Advisor of CIMB Islamic and the founding Chief Executive Officer of CIMB-Principal Islamic Asset
Management Sdn Bhd. She was also the Past President of the Malaysian Futures Brokers Association (MFBA).
She was formerly a Global Practitioner in Residence in Principal Financial Group Centre for Global Citizenship,
United States of America.
Ms. Sharmila Sekarajasekaran, member of AC, was in legal practice for many years, and joined the RIM Group in
year 2005 and held various positions in the RIM Group.
In FY2018, the AC had met eight (8) times, two (2) of which were meeting with the External Auditors, without
Executive Directors’ and Management’s presence and one (1) of which was meeting with the Internal Auditors,
without Executive Directors’ and Management’s presence. The Executive Director, Head of Internal Audit, Senior
Management, External Auditors, other Board members and the Company Secretary will attend the AC meetings
upon invitation, as and when necessary. The attendance record of AC members was as follows:
Members Directorship Meeting Attendance
Tan Sri Dato’ Seri Utama Arshad Bin Ayub Senior Independent Non-Executive Director 7/8 (87.5%)
(Chairman)
Dato’ Lim Han Boon Independent Non-Executive Director 8/8 (100%)
Datuk Noripah Binti Kamso Independent Non-Executive Director 7/8 (87.5%)
Sharmila Sekarajasekaran Independent Non-Executive Director 8/8 (100%)
During the FY2018, the AC had constantly engaged with the External Auditors and the Head of Internal Audit to
keep abreast with the key audit issues and audit concerns affecting the Company.
Minutes of each AC meeting are noted by the Board via distribution to each Board member and the Chairman of
the AC highlights on key issues discussed in the AC meeting at each Board meeting.
The performance and effectiveness of AC would be assessed annually through AC evaluation and AC members’
self and peer evaluation conducted by the AC, and the Nomination and Remuneration Committee (“NRC”)
reviewed the results of such assessments. The NRC reviews the term of office and performance of the AC
members annually. During the FY2018, the Board is satisfied that the AC and its members have been able to
discharge their functions, duties and responsibilities in accordance with the terms of reference (“TOR”) of the AC.

(CONT’D)
TOR OF THE AC
The AC had discharged its functions and carried out its duties as set out in the TOR of the AC.
The TOR of the AC is available for reference on the Company’s website at http://www.topglove.com/corporate-
governance/
SUMMARY OF ACTIVITIES FOR THE FY2018
1. Financial Reporting
(a) Reviewed all the four (4) Quarter’s Financial Statements and the annual Audited Financial Statements of
the Company and recommended the same for the Board’s approval. 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 with accounting standards and other legal
requirements; significant matters highlighted in the financial statements; and significant judgements
made by Management.
(b) Reported its findings on the financial and Management performance, and other material matters to the Board.
2. Internal Audit
(a) Reviewed and approved the three years Internal Audit Plan for FY2018, FY2019 and FY2020 proposed
by the Internal Auditors to ensure the adequacy of the scope, coverage of works and that it has the
necessary authority to carry out its works.
(b) Reviewed the Internal Audit programme and results of Internal Audit together with the recommendations
from the Internal Auditors. The AC considered the Internal Auditors’ recommendations taken into
account Management’s responses and upon which approved the Internal Auditors’ proposals for
rectification and implementation of the agreed remedial actions for improvement.
(c) Undertook assessment of the performance of the Internal Audit function and reviewed its effectiveness
of the audit processes and assessed the performance of the overall Internal Audit Department (“IAD”).
(d) Held separate meetings to discuss the result of assessment with the Internal Auditors and other areas
of Internal Audit’s concern, without the presence of Executive Directors and Management.
(e) Conducted interviews with the potential candidates to fill the vacancy as the Head of Internal Audit.
3. External Audit
(a) Discussed with the External Auditors before the audit commences, the audit plan, nature and scope
of the audit, areas of audit emphasis, and ensured co-ordination where more than one (1) audit firms
are involved; as well as the External Auditors’ evaluation of the system of internal controls and audit
reports.
(b) Discussed and deliberated on the External Auditors’ reports and recommendations regarding
opportunities for improvement to the significant risk areas, internal controls and financial matters areas
based on observations made in the course of interim and final audits.
(c) Held two (2) private meetings with the External Auditors without the presence of the Executive Directors
and Management to discuss on the areas of audit concern.
(d) Discussed the results of annual assessment on the suitability and the independence of the External
Auditors pursuant to the Company’s External Auditors’ Assessment Policy.
(e) Reviewed the performance of the External Auditors and recommended its re-appointment and
remuneration to the Board.
(f) Reviewed and approved the provision of non-audit services rendered by the External Auditors.

(CONT’D)
4. Related Party Transactions

(a) Reviewed and recommended on quarterly basis the related party transactions presented by
Management to the Board for approval, to ensure that these transactions are undertaken in the best
interest of the Company, fair, reasonable and on normal commercial terms as well as not detrimental
to the interest of the minority shareholders.
(b) Monitored the thresholds of the related party transactions and recurrent related party transactions to
ensure compliance with Bursa Securities Main LR.
5. Annual Reporting
Reviewed the AC Report, Statement on Risk Management and Internal Control and Corporate Governance
Statement to ensure adherence to legal and regulatory reporting requirements and appropriate resolution
of all accounting matters requiring significant judgement and recommended the same to the Board for
approval.
6. Others
(a) Reviewed the progress of all investment projects of the Company.
(b) Reviewed the Investment Portfolios of the Company.
(c) Deliberated the emerging financial reporting issues pursuant to the introduction of new accounting
standards and additional statutory/regulatory disclosure requirements.
(d) Considered and discussed new business ventures of the Company for the Board’s approval.
(e) Verified the share buy-back of the Company.
(f) Verified the allocation of Employees’ Share Option Scheme (“ESOS”) and Employees Share Grant Plan
(“ESGP”) complied with the criteria as stipulated in the by-laws of ESOS and ESGP of the Company,
respectively.
(g) Reviewed Whistle-Blowing Policy and cases of the Company.
(h) Reviewed the term of office of the AC members.
TRAINING
During the FY2018, all of the AC members have attended various seminars, training programme and conferences.
The list of trainings attended is disclosed in the Corporate Governance Overview Statement on pages 70 to 72
of this Annual Report.
INTERNAL AUDIT FUNCTION
The IAD is led by Lim Lung Fui @ Jack, a member of Malaysian Institute of Accountants who reports directly
to the AC. The principal objective of IAD is to undertake regular reviews of the systems of controls, procedures
and operations so as to provide reasonable assurance that the internal control system is sound, adequate and
satisfactory. The function of the IAD is to provide the AC with independent and objective reports on the state
of internal controls of the operating units within the Group and the extent of compliance by such units with the
Group’s established policies and procedures and the regulatory requirements of the relevant authorities. The AC
reviews and approves the Internal Audit plan of the Group submitted by the Head of Internal Audit.
During the FY2018, the areas audited included audits of the various departments covering all the factories and
subsidiaries within the Group. Internal Audit reports were issued to the AC regularly and tabled in the AC meetings.
The reports are also issued to the respective operations management, incorporating audit recommendations and
Management’s responses with regards to any audit finding on the weaknesses in the systems and controls of the
operations. The IAD conducted follow-up audit to ensure the agreed audit recommendations were implemented
appropriately.
The total costs incurred for the in-house Internal Audit function for the FY2018 was RM605,096.48
(2017: RM522,156.00).

(CONT’D)
RISK MANAGEMENT
The Board and Management have embarked on the risk management culture and endeavour to ensure that the
Group’s employees have a good understanding and application of risk management principles towards cultivating
a sustainable risk management culture. The Board undertakes to conduct regular risk awareness sessions at the
operational level to promote the understanding of risk management principles and practices across different
functions within the Group.
RISK MANAGEMENT COMMITTEE (“RMC”) COMPOSITION AND ATTENDANCE
In FY2018, the RMC had met four (4) times. The composition and the attendance record of the RMC members
were as follows:
Directors Directorship Meeting Attendance
Dato’ Lim Han Boon (Chairman of RMC) Independent Non-Executive Director 4/4 (100%)
Tan Sri Rainer Althoff Independent Non-Executive Director 4/4 (100%)
Dato’ Lee Kim Meow Managing Director 4/4 (100%)
Lim Cheong Guan Executive Director 4/4 (100%)
Datuk Dr. Norma Mansor Independent Non-Executive Director 4/4 (100%)
TOR OF THE RMC
The RMC had discharged its functions and carried out its duties as set out in the TOR of the RMC.
The TOR of the RMC is available for reference on the Company’s website at http://www.topglove.com/corporate-
governance/
The aforesaid matter is further elaborated in details under a separate statement known as “Statement on Risk
Management and Internal Control” on pages 86 to 88 of this Annual Report.
Top Glove’s condom factory commenced operations in July 2018

DIRECTORS’ RESPONSIBILITY STATEMENT
FOR THE AUDITED FINANCIAL STATEMENTS
The Directors are required by the Companies Act 2016 (“CA”) to cause Management to prepare the financial
statements for each financial year which have been made out in accordance with the provision of the CA and
applicable approved accounting standards.
The Directors are required to prepare financial statements which give a true and fair view of the state of affairs of
the Group and of the Company at the end of the financial year, and of the results and cash flows of the Group and
of the Company for the financial year.
In preparing the financial statements, the Directors shall ensure that Management have:
a) Adopted appropriate accounting policies and applied them consistently;

b) Made judgements and estimates that are reasonable and prudent;
c) Ensured that all applicable approved accounting standards in Malaysia have been followed; and
d) Prepared the financial statements on a going concern basis.
The Directors are responsible to ensure that the Group and the Company keep accounting records that disclose
with reasonably accuracy the financial position of the Group and of the Company, and which enable them to
ensure that the financial statements comply with the CA.
The Directors have general responsibilities for taking such steps as are reasonably available to them to safeguard
the assets of the Group and of the Company, and to detect and prevent fraud and other irregularities.
The Extraordinary General Meeting held on 10th October 2018

FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2018
PAGE PAGE
95 Directors’ Report 108 Statements of Financial Position
101 Statement by Directors 111 Statements of Changes in Equity
101 Statutory Declaration 114 Statements of Cash Flows
102 Independent Auditors’ Report 117 Notes to the Financial Statements
106 Statements of Profit or Loss
107 S
tatements of Comprehensive
Income
The stamping process in the production of Cast Polyethylene (CPE) gloves

DIRECTORS’ REPORT
The directors have pleasure in presenting their report together with the audited financial statements of the Group
and of the Company for the financial year ended 31 August 2018.
Principal activities
The principal activities of the Company are investment holding and provision of management services.
The principal activities and other information of the subsidiaries are described in Note 19 to the financial
statements.
There have been no significant changes in the nature of these principal activities during the financial year.
Results
Group Company
RM’000 RM’000
Profit net of tax 437,906 233,759
Profit attributable to:

Owners of the parent 434,215 233,759
Non-controlling interests 3,691 -
437,906 233,759
There were no material transfers to or from reserves or provisions during the financial year other than as disclosed
in the financial statements.
In the opinion of the directors, the results of the operations of the Group and of the Company during the financial
year were not substantially affected by any item, transaction or event of a material and unusual nature.
Dividends
The amount of dividends paid by the Group and the Company since 31 August 2017 were as follows:
Group and Company

RM’000
In respect of the financial year ended 31 August 2017:
Final tax exempt single tier dividend of 8.5 sen per share on
1,255,159,000 ordinary shares, declared on
10 November 2017 and paid on 25 January 2018 106,691
In respect of the financial year ended 31 August 2018:
First tax exempt interim single tier dividend of 7 sen per share on
1,277,926,000 ordinary shares, declared on
19 June 2018 and paid on 17 July 2018 89,454
196,145
Further details on dividends recognised during the financial year are disclosed in Note 44.
At the forthcoming Annual General Meeting, a single tier final dividend of 5 sen per share on 2,556,316,000 ordinary
shares amounting to RM127,817,000 in respect of the financial year ended 31 August 2018 will be proposed
for shareholders’ approval. The financial statements for the current financial year do not reflect this proposed
dividend. Such dividend, if approved by the shareholders, will be accounted for in equity as an appropriation of
retained earnings in the financial year ending 31 August 2019.

DIRECTORS’ REPORT
(CONT’D)
Directors of the Company
The directors of the Company in office since the beginning of the financial year to the date of this report are:
Tan Sri Dr Lim Wee Chai*

Tan Sri Dato’ Seri Utama Arshad bin Ayub
Tan Sri Rainer Althoff
Dato’ Lee Kim Meow*
Puan Sri Tong Siew Bee*
Lim Hooi Sin*
Lim Cheong Guan*
Dato’ Lim Han Boon
Datuk Noripah Binti Kamso
Sharmila Sekarajasekaran
Tay Seong Chee, Simon
Datuk Dr. Norma Mansor
Low Chin Guan* (appointed on 4 April 2018 and removed on 10 October 2018)
* These directors are also directors of the Company’s subsidiaries.
Directors of subsidiaries
The following is a list of directors of the subsidiaries (excluding directors who are also directors of the Company)
in office during the financial year until the date of this report:
Dato’ IR Haji Ahmad Bin Hassan

Dr. Pongsak Kerdvonbundit
Choh Ai Ying
Chookiad Usaha
Hue Kon Fah
Lew Sin Chiang
Liew Say Keong
Lim Jin Feng
Ng Wee Chong
Ng Yong Lin
Oh Teik Chye
Phattaraporn Fueangthong
Puon Tuck Seng
Ravi A/L Supramaniam
Saw Eng Kooi
Seah Chong Shew
See So Kim Huat
Siow Chun Min
Max Som Chai A/L Putian
Svami Utama Batang Taris
Tan Chee Hoong
Thomas Petermoeller
Wilawan Sakulsongboonsiri
Wong Chong Ban
Dr. Navindra A/L Nageswaran
Ho Chee Meng Edmund
Masato Katayama
Hoong Hsuch Ling
Tan Puay Choo
Lam Yat Hing (appointed on 30 October 2017)
Ho Kim Nam (appointed on 30 October 2017)
Leong Chew Mun (appointed on 21 February 2018)
Zhu Bai He
Victor Daniel Angenscheidt Baridon

DIRECTORS’ REPORT
(CONT’D)
Directors’ benefits
Neither at the end of the financial year, nor at any time during that year, did there subsist any arrangement to which
the Company was a party, whereby the directors might acquire benefits by means of the acquisition of shares
in or debentures of the Company or any other body corporate, other than those arising from the share options
granted under the employee share options scheme (“ESOS”) and the employee share grant plan (“ESGP”).
Since the end of the previous financial year, no director has received or become entitled to receive a benefit (other
than benefits included in the aggregate amount of emoluments received or due and receivable by the directors
or the fixed salary of a full-time employee of the Company as shown below) by reason of a contract made by
the Company or 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 a substantial financial interest, except as disclosed in the Note 38 to the
financial statements.
The directors’ benefits are as follows:
Group Company
RM’000 RM’000
Salaries and other emoluments 9,555 3,292

Fees 1,256 1,202
Defined contribution plan 798 302
Defined benefit plan 12 1
Share option granted under ESOS 302 161
Share option granted under ESGP 18 -
Benefits-in-kind 211 50
12,152 5,008
* The Company maintains a liability insurance for directors of the Group. The total amount of sum insured for
the directors of the Group for the financial year amounted to RM5,000,000.
Directors’ interests
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:
Number of ordinary shares

1 September 31 August
2017 Acquired Sold 2018
Tan Sri Dr Lim Wee Chai

- direct 368,822,176 1,092,600 - 369,914,776
- indirect 88,206,208 15,400 1,000,000 87,221,608
Puan Sri Tong Siew Bee
- direct 3,605,896 9,300 - 3,615,196
- indirect 453,422,488 1,098,700 1,000,000 453,521,188
Dato’ Lee Kim Meow
- direct 620,100 266,700 400,000 486,800
- indirect 20,000 - - 20,000
Lim Hooi Sin
- direct 20,281,824 - 1,000,000 19,281,824
- indirect 436,735,660 1,101,900 - 437,837,560
Lim Cheong Guan
- direct 8,000 288,800 148,000 148,800
Tan Sri Dato’ Seri Utama Arshad bin Ayub
- direct 900,000 - 100,000 800,000
- indirect 100,000 - 100,000 -
Low Chin Guan
- direct 400 - - 400
- indirect - 20,505,000 10,252,500 10,252,500
Sharmila Sekarajasekaran
- direct - 5,000,000 - 5,000,000

DIRECTORS’ REPORT
(CONT’D)
Directors’ interests (Cont’d)
Number of options over ordinary shares

1 September 31 August
2017 Granted Exercised 2018
Tan Sri Dr Lim Wee Chai 92,600 185,000 92,600 185,000

Puan Sri Tong Siew Bee 9,300 9,100 9,300 9,100
Dato’ Lee Kim Meow 266,700 61,000 266,700 61,000
Lim Hooi Sin - 24,600 - 24,600
Lim Cheong Guan 288,800 54,400 288,800 54,400
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 deemed interested in shares of all the subsidiaries to the extent the Company has an interest.
None of the other directors in office at the end of the financial year had any interest in shares in the Company or
its related corporations during the financial year.
Issue of shares
During the financial year, the Company increased its issued and paid-up ordinary share capital from RM636,644,000
to RM787,709,000 by way of:
(i) issuance of 3,425,000 ordinary shares pursuant to the Company’s ESOS at an option price between RM1.76
to RM10.12 per ordinary share; and
(ii) the issuance of 20,505,000 ordinary shares through a private placement at an issue price of RM6.68 per
ordinary share, as partial discharge of purchase consideration for the acquisition of a subsidiary.
The new ordinary shares issued during the financial year ranked pari passu in all respects with the existing
ordinary shares of the Company.
Employee share options scheme (“ESOS”)
At an Extraordinary General Meeting held on 9 January 2018, shareholders approved the ESOS for the granting
of non-transferable 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 committee administering the ESOS comprise two executive directors, Tan Sri Dr Lim Wee Chai and Lim
Cheong Guan; four 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 37(i) to the financial statements.
During the financial year, the Company granted 3,166,600 share options under New Employee Share Option
scheme. These options 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 37(i)
to the financial statements are met.

DIRECTORS’ REPORT
(CONT’D)
Employee share options scheme (“ESOS”) (Cont’d)
Details of the options exercised to subscribe for ordinary shares of the Company pursuant to the ESOS as at 31
August 2018 are as follows:
Exercise Number of
price options
Expiry date RM ’000
1 August 2018 1.76 49.6

1 August 2018 2.82 12.0
1 August 2018 2.90 1,506.8
1 August 2018 3.49 23.2
1 August 2018 3.08 129.2
1 August 2018 3.06 39.0
1 August 2018 3.43 31.6
1 August 2018 3.26 12.8
1 August 2018 2.08 21.4
1 August 2018 2.76 262.6
1 August 2018 2.32 394.1
1 August 2018 5.33 938.4
31 May 2028 10.12 4.7
3,425.4
Details of shares granted to directors are disclosed in the section on Directors’ Interest in this report.
Employee share grant plan (“ESGP”)
At an Extraordinary General Meeting held on 6 January 2016, shareholders approved ESGP for the eligible
employees and executive directors of the Company and its subsidiaries.
The committee administering the ESGP comprise two executive directors, Tan Sri Dr Lim Wee Chai and Lim
Cheong Guan; four 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 ESGP are disclosed in Note 37(ii) to the financial statements.
During the financial year, the Company granted 93,700 share grant under ESGP amounted RM975,000 for
employee and the certain conditions as detailed in Note 37(ii) to the financial statements.
Details of shares granted to directors are disclosed in the section on Directors’ Interest in this report.
Treasury shares
During the financial year, the Company transferred 93,700 treasury shares to eligible employees under employee
share grant scheme at average market price of RM10.40 per share. The total transferred treasury shares net of
transaction costs were RM975,000. The difference between the transferred treasury shares and the cost of the
treasury shares amounted to RM561,000 was recognised in equity.
As at 31 August 2018, the Company held as treasury shares a total of 2,071,000 of its 1,280,229,000 issued
ordinary shares. Such treasury shares are held at a carrying amount of RM9,325,000 and further relevant details
are disclosed in Note 34 to the financial statements.
Other statutory information
(a) Before the statements of comprehensive income and statements of financial position of the Group and of
the Company were made out, the directors took reasonable steps:
(i) to ascertain that proper action had been taken in relation to the writing off of bad debts and the making
of provision for doubtful debts and satisfied themselves that all known bad debts had been written off
and that adequate provision had been made for doubtful debts; and
(ii) to ensure that any current assets which were unlikely to realise their value as shown in the accounting
records in the ordinary course of business had been written down to an amount which they might be
expected so to realise.
DIRECTORS’ REPORT
(CONT’D)
Other statutory information (Cont’d)
(b) At the date of this report, the directors are not aware of any circumstances which would render:
(i) the amount written off for bad debts or the amount of the provision for doubtful debts in the financial
statements of the Group and of the Company inadequate to any substantial extent; and
(ii) the values attributed to the current assets in the financial statements of the Group and of the Company
misleading.
(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.
(d) At the date of this report, the directors are not aware of any circumstances not otherwise dealt with in this
report or financial statements of the Group and of the Company which would render any amount stated in
the financial statements misleading.
(e) At the date of this report, there does not exist:
(i) any charge on the assets of the Group or of the Company which has arisen since the end of the
financial year which secures the liabilities of any other person; or
(ii) any contingent liability of the Group or of the Company which has arisen since the end of the financial year.
(f) In the opinion of the 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 their obligations when they fall due; and
(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 or of the Company for the financial year in which this report is made.
Significant events
In addition to the significant events disclosed elsewhere in this report, other significant events are disclosed in
Note 19 to the financial statements.
Subsequent events
Details of subsequent events are disclosed in Note 47 to the financial statements.
Auditors
The auditors, Ernst & Young, have expressed their willingness to continue in office.
Auditors’ remuneration is as follows:
Group Company
RM’000 RM’000
Ernst & Young 316 85

Other auditors 583 -
899 85
To the extent permitted by law, the Company has agreed to indemnify its auditors, Ernst & Young, as part of the
terms of its audit engagement against claims by third parties arising from the audit. No payment has been made
to indemnify Ernst & Young for the financial year ended 31 August 2018.
Signed on behalf of the Board in accordance with a resolution of the directors dated 31 October 2018.
Dato’ Lee Kim Meow Dato’ Lim Han Boon

STATEMENT BY DIRECTORS
PURSUANT TO SECTION 251(2) OF THE COMPANIES ACT 2016
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 106 to
186 are drawn up in 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 as at 31 August 2018 and of their financial performance and
cash flows for the year then ended.
Signed on behalf of the Board in accordance with a resolution of the directors dated 31 October 2018.
Dato’ Lee Kim Meow Dato’ Lim Han Boon
STATUTORY DECLARATION
PURSUANT TO SECTION 251(1)(b) OF THE COMPANIES ACT 2016
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 106 to 186 are in my opinion 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 in the State of Selangor
on 31 October 2018
Dato’ Lee Kim Meow
Before me,
Sirendar Singh
Commissioner for Oaths

INDEPENDENT AUDITORS’ REPORT
TO THE MEMBERS OF TOP GLOVE CORPORATION BHD.
[INCORPORATED IN MALAYSIA]
Report on the audit of the financial statements
Opinion

We have audited the financial statements of Top Glove Corporation Bhd., which comprise the statements of
financial position as at 31 August 2018 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 notes to the financial statements, including a summary of significant
accounting policies, as set out on pages 106 to 186.

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 2018, and of their financial performance and their cash flows for the
year then ended in accordance with Malaysian Financial Reporting Standards, International Financial Reporting
Standards and the requirements of the Companies Act 2016 in Malaysia.
Basis for opinion

We conducted our audit in accordance with approved standards on auditing in Malaysia and International Standards
on Auditing. 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 basis for our audit opinion.

Independence and other ethical responsibilities

We are independent of the Group and of the Company in accordance with the By-Laws (on Professional Ethics,
Conduct and Practice) of the Malaysian Institute of Accountants (“By-Laws”) and the International Ethics
Standards Board for Accountants’ Code of Ethics for Professional Accountants (“IESBA Code”), and we have
fulfilled our other ethical responsibilities in accordance with the By-Laws and the IESBA Code.
Key audit matters
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 to communicate in our report on the financial statements of the Company. The key audit
matters for the audit of the financial statements of the Group are described below. These matters were addressed
in the context of our audit of the financial statements of the Group as a whole, and in forming our opinion thereon,
and we do not provide a separate opinion on these matters. For each matter below, our description of how our
audit addressed the matter is provided in that context.
We have fulfilled the responsibilities described in the Auditors’ responsibilities for the audit of the financial
statements section of our 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 procedures performed to address the
matters below, provide the basis of our audit opinion on the accompanying financial statements.
Review of costing of inventories

(Refer to Notes 4.15, 7.2(a) and 24 to the financial statements)
At 31 August 2018, the Group held RM508 million of inventories which represent approximately 10% of total
assets of the Group. Total cost of inventory charged to the consolidated income statement for the year ended 31
August 2018 amounted to RM3,368 million, accounted for 91% of total expenditure of the Group. Inventories are
carried at the lower of cost and net realisable value. The cost of inventories comprises the cost of purchase of
raw materials, direct labour, plus conversion costs such as variable and fixed overhead.
The inventory cost is recorded and computed via the SAP system, after incorporating actual costs from a variety
of inputs. As the computation and cost allocation process involve multiple inputs and management’s judgement,
the costing of inventories is considered complex and hence is a key area of audit focus.
Our audit procedures performed, amongst others are as follows:
a) Obtained an understanding of the current inventories valuation policy and its related processes in allocating,
recording and computing the cost of inventories.
b) Performed walkthrough on the processes and reviewed the computation of standard costing of inventory.
We have also observed the procedures of updating the standard cost into the SAP system.

[INCORPORATED IN MALAYSIA] (CONT’D)
Review of costing of inventories (Cont’d)
c) Performed walkthrough and tested controls over the recording of cost of purchases, which includes the raw
materials, direct labour, and allocation of overheads, into the SAP system.
d) Assessed the general and logical access controls surrounding the data input process of the SAP system by
involving our IT audit professionals.
Annual impairment test of goodwill arising from the acquisition of Aspion Sdn. Bhd. (“Aspion”)
(Refer to Notes 4.1, 7.2(b) and 23 to the financial statements)
As at 31 August 2018, the Group recorded a provisional goodwill of RM1,258 million arising from the acquisition
of Aspion, which represents 24% of the Group’s total assets. The goodwill amount has been allocated to cash
generating unit (“CGU”) on a provisional basis for impairment testing purposes. The Group estimated the
recoverable amount of the CGU to which the goodwill is allocated based on value-in-use (“VIU”).
Given its magnitude and the significant judgement involved in the annual impairment test, we consider this
impairment test to be an area of audit focus. Specifically, we focus on the evaluation of the assumptions on the
amount and timing of cash flows which are based on internal (e.g. budgets) and external market data (e.g. country
specific interest rates and inflation percentages), and determination of an appropriate discount rate for Aspion.
Our audit procedures performed, amongst others are as follows:
a) Evaluated management’s key assumptions used in the cash flows projection, focusing on projected revenue,
profit margins and growth rates, taking into consideration the current and expected future economic
conditions. We compared the projected revenue to the past trends and compared expected growth rates to
relevant market expectations.
b) Together with EY valuation specialists, we evaluated the discount rate used to determine the present value
of the cash flows and assessed whether the rate used reflect the current market assessment of the time
value of money and the risk specific to the asset is the return that the investors would require if they were
to choose an investment that would generate cash flows of amounts, timing and risk profile equivalent to
those that the entity expects to derive from the asset.
c) Assessed the sensitivity of the cash flows to changes in the key inputs to understand the impact that
reasonable alternative assumptions would have on the overall carrying value.
d) Evaluated the adequacy of the Group’s disclosures in the financial statements concerning those key
assumptions to which the outcome of the impairment test is most sensitive.
Information other than the financial statements and auditors’ report thereon
The directors of the Company are responsible for the other information. The other information comprises the
information included in the annual report, but does not include the financial statements of the Group and of the
Company and our auditors’ report thereon.

Our opinion on the financial statements of the Group and of the Company does not cover the other information
and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements of the Group and of the Company, our responsibility is to
read the other information and, in doing so, consider whether the other information is materially inconsistent with
the financial statements of the Group and of the Company or our knowledge obtained in the audit or otherwise
appears to be materially misstated.

If, based on the work we have performed, we conclude that there is a material misstatement of this other
information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of the directors for the financial statements
The directors of the Company are responsible for the preparation of financial statements of the Group and of the
Company that give a true and fair view in accordance with Malaysian Financial Reporting Standards, International
Financial Reporting Standards 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 from material misstatement, whether due to
fraud or error.
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 the going concern basis of accounting unless the directors either intend to liquidate
the Group or the Company or to cease operations, or have no realistic alternative but to do so.
Auditors’ responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements of the Group and of the
Company 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 approved standards on auditing in Malaysia and International Standards
on Auditing will always detect a material misstatement 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.

As part of an audit in accordance with approved standards on auditing in Malaysia and International Standards on
Auditing, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
• 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.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate 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.
• 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.
We communicate with the directors regarding, among other matters, the planned scope and timing of the audit and
significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide the directors with a statement that we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and other matters that may reasonably be thought
to bear on our independence, and where applicable, related safeguards.


Auditors’ responsibilities for the audit of the financial statements (Cont’d)
From the matters communicated with the directors, we determine those matters that were of most significance
in the audit of the financial statements of the Group and of the Company for the current year and are therefore
the key audit matters. We describe 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 of doing so would reasonably be expected to
outweigh the public interest benefits of such communication.
Report on other legal and regulatory requirements
In accordance with the requirements of the Companies Act 2016 in Malaysia, we report that the subsidiaries of
which we have not acted as auditors, are disclosed in Note 19 to the financial statements.
Other matters
This report is made solely to the members of the Company, as a body, in accordance with Section 266 of the
Companies Act 2016 in Malaysia and for no other purpose. We do not assume responsibility to any other person
for the content of this report.
Ernst & Young Ng Kim Ling

AF: 0039 No. 03236/04/2020 J
Chartered Accountants Chartered Accountant
Kuala Lumpur, Malaysia

31 October 2018

STATEMENTS OF PROFIT OR LOSS
Group Company
Note 2018 2017 2018 2017
(Restated)
RM’000 RM’000 RM’000 RM’000
Revenue 8 4,214,482 3,409,176 243,942 333,815

Cost of sales (3,367,611) (2,803,857) - -
Gross profit 846,871 605,319 243,942 333,815
Other items of income

Interest income 9 12,256 17,232 217 1,861
Other income 10 39,752 53,488 - 10
Other items of expense

Distribution and selling costs (111,692) (90,250) - -
Administrative and general expenses (224,968) (193,452) (10,400) (8,413)
Finance costs (35,321) (6,314) - -
Share of results of associates 1,697 (980) - -
Profit before tax 11 528,595 385,043 233,759 327,273

Income tax expense 14 (90,689) (54,514) - -
Profit net of tax 437,906 330,529 233,759 327,273
Profit attributable to:

Owners of the parent 434,215 330,664 233,759 327,273
Non-controlling interests 3,691 (135) - -
437,906 330,529 233,759 327,273
Earnings per share attributable

to owners of the parent (sen):
Before issuance of bonus shares

- Basic 15 33.92 26.38
- Diluted 15 33.92 26.36
After issuance of bonus shares

- Basic 15 16.97 13.06
- Diluted 15 16.97 13.06
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.

STATEMENTS OF COMPREHENSIVE INCOME
Group Company
2018 2017 2018 2017
(Restated)
RM’000 RM’000 RM’000 RM’000
Profit net of tax 437,906 330,529 233,759 327,273
Other comprehensive (loss)/income:

To be reclassified to profit or loss in subsequent
periods:
Net movement on available-for-sale financial
assets (2,465) 5,609 - -
Cash flow hedges (Note 35) (41,504) - - -
Foreign currency translation differences of foreign
operations (17,741) 30,041 - -
Foreign currency translation differences of associate - (1,252) - -
Other comprehensive (loss)/income for the year,

net of tax (61,710) 34,398 - -
Total comprehensive income for the year 376,196 364,927 233,759 327,273
Total comprehensive income attributable to:

Owners of the parent 372,671 364,297 233,759 327,273
Non-controlling interests 3,525 630 - -
376,196 364,927 233,759 327,273

STATEMENT OF
FINANCIAL POSITION (GROUP)
AS AT 31 AUGUST 2018
As at
Note 2018 2017 1.9.2016
(Restated) (Restated)
RM’000 RM’000 RM’000
Assets
Non-current assets
Property, plant and equipment 16 2,064,817 1,498,486 1,128,937
Land use rights 17 101,675 40,457 39,461
Investment property 18 163,900 162,000 162,000
Investment in an associate 20 1,697 - 3,961
Deferred tax assets 21 14,288 14,681 7,081
Investment securities 22 392 392 145
Goodwill 23 1,304,496 22,805 22,805
3,651,265 1,738,821 1,364,390
Current assets
Inventories 24 508,186 315,775 263,679
Trade and other receivables 25 646,179 419,349 345,700
Other current assets 26 106,380 51,258 24,179
Tax recoverable - 17,351 -
Investment securities 22 193,714 206,910 479,081
Derivative financial instruments 27 - 645 -
Cash and bank balances 28 164,836 240,068 224,099
1,619,295 1,251,356 1,336,738
Total assets 5,270,560 2,990,177 2,701,128
Equity and liabilities
Current liabilities
Loans and borrowings 29 882,575 314,644 317,796
Trade and other payables 30 499,685 418,802 332,199
Other current liabilities 31 59,248 62,292 39,368
Income tax payable 8,680 - 1,357
Derivative financial instruments 27 856 - 189
1,451,044 795,738 690,909
Net current assets 168,251 455,618 645,829

STATEMENT OF
FINANCIAL POSITION (GROUP)
AS AT 31 AUGUST 2018 (CONT’D)
As at
Note 2018 2017 1.9.2016
(Restated) (Restated)
RM’000 RM’000 RM’000
Non-current liabilities
Loans and borrowings 29 1,330,359 61,750 81,637
Deferred tax liabilities 21 94,670 68,257 52,885
Provisions 719 - -
1,425,748 130,007 134,522
Total liabilities 2,876,792 925,745 825,431
Net assets 2,393,768 2,064,432 1,875,697
Equity attributable to owners of the parent
Share capital 32 787,709 636,644 627,406

Share premium 33 - - 4,781
Treasury shares 34 (9,325) (9,739) (9,739)
Other reserves 35 4,551 62,499 28,508
Retained earnings 1,595,546 1,365,827 1,216,915
2,378,481 2,055,231 1,867,871

Non-controlling interests 15,287 9,201 7,826
Total equity 2,393,768 2,064,432 1,875,697
Total equity and liabilities 5,270,560 2,990,177 2,701,128

STATEMENT OF
FINANCIAL POSITION (COMPANY)
AS AT 31 AUGUST 2018
Note 2018 2017

RM’000 RM’000
Assets
Non-current asset
Investment in subsidiaries 19 1,018,960 830,503

Current assets
Trade and other receivables 25 2,000 174
Other current assets 26 1,071 -
Tax recoverable 12 16
Investment securities 22 2 2,583
Cash and bank balances 28 151 484
3,236 3,257
Total assets 1,022,196 833,760

Equity and liabilities
Current liabilities
Trade and other payables 30 1,508 2,565
Other current liabilities 31 1 1
Total liabilities 1,509 2,566
Net current assets 1,727 691
Net assets 1,020,687 831,194
Equity attributable to owners of the Company
Share capital 32 787,709 636,644

Treasury shares 34 (9,325) (9,739)
Other reserves 35 1,929 2,568
Retained earnings 36 240,374 201,721
Total equity 1,020,687 831,194
Total equity and liabilities 1,022,196 833,760

Attributable to owners of the parent
Total equity Non-distributable Distributable
attributable Cash Fair Non-
to owners Foreign Share flow value controlling
Total of the Share Share Treasury exchange Legal option hedge adjustment Retained interests
2018 equity parent capital premium shares reserve reserve reserve reserve reserve earnings (“NCI”)
Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Opening balance at
1 September 2017 2,012,481 2,003,280 636,644 - (9,739) 53,700 4,929 2,568 - 1,302 1,313,876 9,201
Effects of changes in
accounting policy
(Note 48) 51,951 51,951 - - - - - - - - 51,951 -
1 September 2017
(Restated) 2,064,432 2,055,231 636,644 - (9,739) 53,700 4,929 2,568 - 1,302 1,365,827 9,201
STATEMENTS OF
Profit net of tax 437,906 434,215 - - - - - - - - 434,215 3,691

Other comprehensive loss (61,710) (61,544) - - - (17,575) - - (41,504) (2,465) - (166)
Total comprehensive
CHANGES IN EQUITY
income 376,196 372,671 - - - (17,575) - - (41,504) (2,465) 434,215 3,525
Transactions with owners

Issuance of ordinary shares
pursuant to Employee
Share Options Scheme
(“ESOS”) (Note 37) 11,972 11,972 11,972 - - - - - - - - -
Shares issued for acquisition
of a subsidiary (Note 32) 137,000 137,000 137,000 - - - - - - - - -
Share options granted
under ESOS (Note 35) 1,932 1,932 - - - - - 1,932 - - - -

Issuance of shares to NCI 1,500 - - - - - - - - - - 1,500
Transfer from share option
reserve (Note 32) - - 2,093 - - - - (2,093) - - - -
Acquisition of subsidiary
companies (Note 19) 5,268 - - - - - - - - - - 5,268
Acquisition of equity
interest of NCI (3,944) (5,155) - - - - - - - - (5,155) 1,211
Transfer to retained
earnings (Note 35) - - - - - - - (478) - - 478 -
Transfer to legal reserve
(Note 35) - - - - - - 4,235 - - - (4,235) -
Transfer to Employee Share
Grant Plan (“ESGP”) 975 975 - - 414 - - - - - 561 -
Dividends on NCI (5,418) - - - - - - - - - - (5,418)
Dividends on ordinary
shares (Note 44) (196,145) (196,145) - - - - - - - - (196,145) -
Total transactions with
owners (46,860) (49,421) 151,065 - 414 - 4,235 (639) - - (204,496) 2,561
Closing balance at
31 August 2018 2,393,768 2,378,481 787,709 - (9,325) 36,125 9,164 1,929 (41,504) (1,163) 1,595,546 15,287
TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018

111
112
Attributable to owners of the parent
Total equity Non-distributable Distributable
attributable Cash Fair Non-
to owners Foreign Share flow value controlling
Total of the Share Share Treasury exchange Legal option hedge adjustment Retained interests
2017 equity parent capital premium shares reserve reserve reserve reserve reserve earnings (“NCI”)
Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Opening balance at
1 September 2016 1,825,839 1,818,013 627,406 4,781 (9,739) 25,676 4,278 2,861 - (4,307) 1,167,057 7,826
accounting policy
(Note 48) 49,858 49,858 - - - - - - - - 49,858 -
1 September 2016
STATEMENTS OF
(Restated) 1,875,697 1,867,871 627,406 4,781 (9,739) 25,676 4,278 2,861 - (4,307) 1,216,915 7,826
Profit net of tax, as previously

stated 328,436 328,571 - - - - - - - - 328,571 (135)
CHANGES IN EQUITY
accounting policy (Note 48) 2,093 2,093 - - - - - - - - 2,093 -

As restated 330,529 330,664 - - - - - - - - 330,664 (135)
Other comprehensive income 34,398 33,633 - - - 28,024 - - - 5,609 - 765
Total comprehensive income 364,927 364,297 - - - 28,024 - - - 5,609 330,664 630

pursuant to ESOS (Note 37) 4,179 4,179 3,128 1,051 - - - - - - - -
Share options granted
under ESOS (Note 35) 578 578 - - - - - 578 - - - -
Issuance of shares to NCI 780 - - - - - - - - - - 780
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2018 (CONT’D)
Changes in ownership
interest in subsidiaries - 35 - - - - - - - - 35 (35)
reserve (Note 32) - - - 278 - - - (278) - - - -
Transition to no-par value
regime - - 6,110 (6,110) - - - - - - - -
Transfer to retained earnings
(Note 35) - - - - - - - (593) - - 593 -
Transfer to legal reserve
(Note 35) - - - - - - 651 - - - (651) -
shares (Note 44) (181,729) (181,729) - - - - - - - - (181,729) -
Total transactions with
owners (176,192) (176,937) 9,238 (4,781) - - 651 (293) - - (181,752) 745
Closing balance at
31 August 2017 2,064,432 2,055,231 636,644 - (9,739) 53,700 4,929 2,568 - 1,302 1,365,287 9,201
STATEMENTS OF
CHANGES IN EQUITY
Non-distributable Distributable
Share
Total Share Share Treasury option Retained
equity capital premium shares reserve earnings
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
2018
Company
Opening balance at
1 September 2017 831,194 636,644 - (9,739) 2,568 201,721
Total comprehensive income 233,759 - - - - 233,759

pursuant to ESOS (Note 37) 11,972 11,972 - - - -
(Note 32) 137,000 137,000 - - - -
Share options granted under
ESOS (Note 35) 1,932 - - - 1,932 -
reserve (Note 35) - 2,093 - - (2,093) -
(Note 35) - - - - (478) 478
Transfer to ESGP 975 - - 414 - 561
Dividends on ordinary shares
(Note 44) (196,145) - - - - (196,145)
Total transactions with owners (44,266) 151,065 - 414 (639) (195,106)
Closing balance at
31 August 2018 1,020,687 787,709 - (9,325) 1,929 240,374
2017
Company
Opening balance at
1 September 2016 680,918 627,406 4,781 (9,739) 2,861 55,609

Total comprehensive income 327,273 - - - - 327,273

pursuant to ESOS (Note 37) 4,179 3,128 1,051 - - -
ESOS (Note 35) 578 - - - 578 -
reserve (Note 35) - - 278 - (278) -
Transition to no-par value
regime - 6,110 (6,110) - - -
(Note 35) - - - - (593) 593
shares (Note 44) (181,754) - - - - (181,754)
Total transactions with owners (176,997) 9,238 (4,781) - (293) (181,161)
Closing balance at
31 August 2017 831,194 636,644 - (9,739) 2,568 201,721

STATEMENTS OF CASH FLOWS
Group Company
2018 2017 2018 2017
(Restated)
RM’000 RM’000 RM’000 RM’000
Operating activities
Profit before tax 528,595 385,043 233,759 327,273
Adjustments for :
Gross dividends - - (239,030) (329,505)
Depreciation on property plant and
equipment (Note 16) 141,105 106,037 - -
Amortisation of land use rights (Note 17) 1,298 734 - -
Loss/(gain) on disposal of property, plant
and equipment 904 (3,087) - -
Gain on disposal of land use right (4,664) - - -
Net loss from fair value remeasurement on
investment property (Note 18) 721 3,096 - -
Bad debts written off - 1,355 - -
Gain on disposal of debt securities (273) (4,032) - -
Gain on disposal of an associate - (1,205) - -
Property, plant and equipment written off 8,025 5,790 - -
Shares granted under ESGP 975 2,359 - 53
Share options granted under ESOS 1,932 578 167 41
Unrealised foreign exchange loss 19,630 21,490 - -
Share of results of an associate (1,697) 980 - -
Net fair value loss/(gain) on derivatives 2,262 (829) - -
Finance costs 35,321 6,314 - -
Interest income (12,256) (17,232) (217) (1,861)
Total adjustments 193,283 122,348 (239,080) (331,272)
Operating cash flows before changes in

working capital 721,878 507,391 (5,321) (3,999)
Changes in working capital
Increase in inventories (106,584) (52,096) - -
(Increase)/decrease in receivables (95,752) (83,129) (1,071) 20
Increase in other current assets (55,122) (27,079) - -
(Decrease)/increase in payables (34,946) 109,656 (1,057) 310
Total changes in working capital (292,404) (52,648) (2,128) 330
Cash flows from/(used in) operations 429,474 454,743 (7,449) (3,669)

Interest paid (35,321) (6,314) - -
Purchase of shares for ESGP - (2,366) - -
Income taxes (paid)/refunded (52,194) (65,473) 4 (13)
Proceeds from government grant - 496 - -
Net cash flows generated from/(used in)

operating activities 341,959 381,086 (7,445) (3,682)

Group Company
2018 2017 2018 2017
(Restated)
RM’000 RM’000 RM’000 RM’000
Investing activities
Purchase of property, plant and equipment (458,812) (479,252) - -
Purchase of land use rights (341) (1,536) - -
Additions to investment property (2,621) (2,106) - -
Purchase of investment securities (170,408) (51,269) (95,296) (1,486)
Proceeds from disposal of investment securities 179,953 320,892 97,877 99,066
Proceeds from disposal of land use rights 9,306 - - -
Decrease/(increase) in bank balances pledged
with banks (913) (606) - -
Interest received 12,256 17,232 217 1,861
Dividends from subsidiaries - - 239,030 329,505
Dividend from an associate - 787 - -
Proceeds from disposal of property, plant
and equipment 9,610 17,404 - -
Additional investment in golf club membership - (247) - -
Additional investment in subsidiaries - - (51,457) (250,000)
Acquisition of equity interest of NCI (3,944) - - -
Net cash outflow on acquisition of subsidiaries (1,270,542) - - -
Net cash inflow on disposal of an associate - 2,034 - -
Repayment from subsidiaries - - 914 2,547
Net cash flows (used in)/generated from

investing activities (1,696,456) (176,667) 191,285 181,493
Financing activities
Proceeds from issuance of ordinary shares
pursuant to ESOS 11,972 4,179 11,972 4,179
Dividends paid on ordinary shares (Note 44) (196,145) (181,729) (196,145) (181,754)
Dividends paid on non-controlling interest (5,418) - - -
Issuance of shares to non-controlling interest 1,500 780 - -
Repayment of loans and borrowings (292,402) (154,637) - -
Drawdown of loans and borrowings 1,763,644 126,074 - -
Net cash flows generated from/(used in)

financing activities 1,283,151 (205,333) (184,173) (177,575)
Net (decrease)/increase in cash and

cash equivalents (71,346) (914) (333) 183
Effect of changes in foreign exchange rate (4,799) 16,277 - -
Cash and cash equivalents at
1 September 2017/2016 238,519 223,156 431 248
Cash and cash equivalents at

31 August (Note 28) 162,374 238,519 98 431

116
(a) Reconciliation of liabilities arising from financing activities
Movements
Cash flows Non-cash changes
Acquisition Foreign
1 September Principal Interest Interest of subsidiary New exchange 31 August
2017 movement paid cost companies leases movement 2018
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
2018
Group
Loans and borrowings (Note 29) 376,394 1,471,242 (35,321) 35,321 310,038 287 54,973 2,212,934
In accordance with the transitional provision of Disclosure Initiative (Amendment to MFRS 107) for the reconciliation of movement of liabilities to cash flows
arising from financing activities, comparative information is not required for preceding periods.

NOTES TO THE FINANCIAL STATEMENTS
1. Corporate information
Top Glove Corporation Bhd. (“the Company”) is a public limited liability company incorporated and domiciled
in Malaysia, 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, Setia Alam, Seksyen U13, 40170 Shah Alam, Selangor.
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 activities during the financial year.
2. Basis of preparation
These financial statements of the Group and of the Company have been prepared in accordance with
Malaysian Financial Reporting Standards (“MFRS”) as issued by the Malaysian Accounting Standards Board
(“MASB”), International Financial Reporting Standards (“IFRS”) as issued by the International Accounting
Standards Board and the requirements of the Companies Act 2016 in Malaysia.
The financial statements have also been prepared on a historical basis, unless otherwise indicated in the
accounting policies below.
The financial statements are presented in Ringgit Malaysia (“RM”) and all values are rounded to the nearest
thousand (RM’000) except when otherwise indicated.
During the financial year, the Group has re-assessed the current accounting policies and elected to change
its accounting policy on measurement of the Group’s investment properties from the cost model to the fair
value model. The effect of the change in accounting policies is accounted for retrospectively. Further details
are disclosed in Note 48. Except for this change in accounting policy, the accounting policies and presentation
adopted for this financial report are consistent with those adopted for the audited financial statements for the
financial year ended 31 August 2017.
3. Basis of consolidation
The consolidated financial statements comprise the financial statements of the Company and of its
subsidiaries as at 31 August 2018 and 2017. Control is achieved when the Group is exposed, or has rights,
to variable returns from its involvement with the investee and has the ability to affect those returns through
its power over the investee. Specifically, the Group controls an investee if and only if the Group has:
- 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 ability to use its power over the investee to affect its returns

When the Group has less than a majority of the voting or similar rights of an investee, the Group considers
all relevant facts and circumstances in assessing whether it has power over an investee, including:
- The contractual arrangement with the other vote holders of the investee;
- Rights arising from other contractual arrangements; and
- The Group’s voting rights and potential voting rights.
The Group re-assesses whether or not it controls an investee if facts and circumstances indicate that there
are changes 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 subsidiary acquired or disposed of during the year are included in profit
or loss from the date the Group gains control until the date the Group ceases to control the subsidiary.
Profit or loss and each component of other comprehensive income (“OCI”) are attributed to the equity
holders of the parent 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 into line with the Group’s accounting policies.
All intra-group assets and liabilities, equity, income, expenses, unrealised gains and losses and cash flows
relating to transactions between members of the Group are eliminated in full on consolidation.

3. Basis of consolidation (Cont’d)
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.
4. Summary of significant accounting policies
4.1 Business combinations and goodwill
Business combinations are accounted for using the acquisition method. The cost of an acquisition
is measured as 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-controlling interest in the acquiree either at fair value
or at the proportionate share of the acquiree’s identifiable net assets. Acquisition-related costs are
expensed as incurred and included in administrative expenses.
When the Group acquires a business, it assesses the financial assets and liabilities assumed for
appropriate classification and designation in accordance with the contractual terms, economic
circumstances and pertinent conditions as at the acquisition date. This includes the separation of
embedded derivatives in host contracts by the acquiree.
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.
Any excess of the cost of business combination, as the case may be, over the net amount of the fair
value of identifiable assets acquired and liabilities assumed is recognised as goodwill. For business
combinations, provisions are made for the acquiree’s contingent liabilities existing at the date of
acquisition as the Group deems that it is probable that an outflow of resources embodying economic
benefits will be required to settle the obligations.
Any excess in the Group’s interest in the net fair value of the identifiable assets acquired and liabilities
assumed over the cost of business combination is recognised immediately in profit or loss.
Any contingent consideration to be transferred by the acquirer will be recognised at fair value at the
acquisition date. Contingent consideration classified as an asset or liability that is a financial instrument
and within the scope of MFRS 139 Financial Instruments: Recognition and Measurement, is measured
at fair value with changes in fair value recognised either in profit or loss or as a change to Other
Comprehensive Income (“OCI”). If the contingent consideration is not within the scope of MFRS 139,
it is measured in accordance with the appropriate MFRS. Contingent consideration that is classified
as equity is not re-measured and subsequent settlement is accounted for within equity.
Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred
and the amount recognised for non-controlling interests, and any previous interest held, over the net
identifiable assets acquired and liabilities assumed. If the fair value of the net assets acquired is in
excess of the aggregate consideration transferred, the Group re-assesses whether it has correctly
identified all of the assets acquired and all of the liabilities 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 transferred, then
the gain is recognised in profit or loss.
After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the
purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition
date, allocated to each of the 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.
Where goodwill has been allocated to a cash-generating unit and part of the operation within that
unit is disposed of, the goodwill associated with the disposed operation is included in the carrying
amount of the operation when determining the gain or loss on disposal. Goodwill disposed in these
circumstances is measured based on the relative values of the disposed operation and the portion of
the cash-generating unit retained.

4. Summary of significant accounting policies (Cont’d)
4.1 Business combinations and goodwill (Cont’d)
Business combinations involving entities under common control are accounted for by applying the
pooling on interest method. The assets and liabilities of the combining entities are reflected at their
carrying amounts reported in the 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 income reflects the results of the
combining entities for the full year, irrespective of when the combination takes place. Comparatives
are presented as if the entities have always been combined since the date the entities had come under
common control.
4.2 Transactions with non-controlling interests
Non-controlling interests represent the equity in subsidiaries not attributable, directly or indirectly,
to owners of the Company, and is presented separately in the consolidated income statement,
consolidated statement of comprehensive income and within equity in the consolidated statement of
financial position, separately from equity attributable to owners of the Company.
Changes in the Company’s interest in a subsidiary that do not result in a loss of control are accounted
for as equity transactions. In such circumstances, the carrying amounts of the controlling and non-
controlling interests are adjusted 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 equity and attributed to owners of the
parent.
4.3 Investment in subsidiaries
A subsidiary is an entity over which the Group has all the following:
(i) Power over the investee (i.e. existing rights that give it the current ability to direct the relevant
activities of the investee);
(ii) Exposure, or rights, to variable returns from its involvement with the investee; and
(iii) The ability to use its power over the investee to affect its returns.
In the Company’s separate financial statements, investment in subsidiaries is accounted for at cost
less impairment losses. On disposal of such investment, the difference between net disposal proceeds
and the carrying amount is included in profit or loss.
4.4 Investment in associates

An associate is an entity, not being a subsidiary or a joint venture, in which the Group has significant
influence. 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.
The Group’s investment in associates is accounted for using the equity method of accounting. Under
the equity method, the investment in associates is measured in the consolidated statement of financial
position at cost plus post-acquisition changes in the Group’s share of net assets of the associates.
Goodwill relating to associates is included in the carrying 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 investment and
is instead included as income in the determination of the Group’s share of the associate’s profit or loss
for the period in which the investment is acquired.
When the Group’s share of losses in an associate equals or exceeds its interest in the associate, the
Group does not recognise further losses, unless it has incurred obligations or made payments on
behalf of the associate.
After application of the equity method, the Group determines whether it is necessary to recognise an
additional impairment loss on the Group’s investment in its associates. The Group determines at each
reporting date whether there is any objective evidence that the investment in the associate is impaired. If
this is the case, the Group calculates the amount of impairment as the difference between the recoverable
amount of the associate and its carrying value and recognises the amount in profit or loss.

4.4 Investment in associates (Cont’d)
The financial statements of the associates are prepared as of the same reporting date as the Group
unless it is impracticable to do so. When the financial statements of associates 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 transactions or events that occur between that date and the
reporting date of the Group. When necessary, adjustments are made to bring the accounting policies
in line with those of the Group.
In the Group’s separate financial statements, investment in associate is stated at cost less impairment
losses. On disposal of such investment, the difference between net disposal proceeds and the carrying
amount is included in profit or loss.
4.5 Current versus non-current classification
Assets and liabilities in the statements of financial position are presented based on a current/non-
current classification. An asset is current when it is:
- Expected to be realised or intended to be sold or consumed in the normal operating cycle;
- Held primarily for the purpose of trading;
- Expected to be realised within twelve months after the reporting period, or
- Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at
least twelve months after the reporting period.
All other assets are classified as non-current.
A liability is current when:
- It is expected to be settled in the normal operating cycle;
- It is held primarily for the purpose of trading;
- It is due to be settled within twelve months after the reporting period; or
- There is no unconditional right to defer the settlement of the liability for at least twelve months
after the reporting period.
All other liabilities are classified as non-current.
Deferred tax assets and liabilities are classified as non-current assets and liabilities.
4.6 Fair value measurement
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 transaction to sell the asset or transfer the liability takes place
either:
- 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 principal or the most advantageous market must be accessible to by the Group.
The fair value of an asset or a liability is measured using the assumptions that market participants
would use when pricing the asset or liability, assuming that market participants act in their economic
best interest.
A fair value measurement of a non-financial asset takes into account a market participant’s ability to
generate 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.

4.6 Fair value measurement (Cont’d)
Valuation techniques that are appropriate in the circumstances and for which sufficient data are
available, are used to measure fair value, maximising the use of relevant observable inputs and
minimising the use of unobservable inputs.
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 measurement as a whole:
Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities
Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value
measurement is directly or indirectly observable
Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value
measurement is unobservable
For assets and liabilities that are recognised in the financial statements on a recurring basis, the
Group determines 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.
Policies and procedures are determined by senior management for both recurring fair value
measurement and for non-recurring measurement.
External valuers are involved for valuation of significant assets and significant liabilities. Involvement
of external valuers is decided by senior management. Selection criteria include market knowledge,
reputation, independence 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.
At each reporting date, the senior management analyses the movements in the values of assets and
liabilities which are required to be re-measured or re-assessed according to the accounting policies
of the Group. 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, classes of assets and liabilities are determined based on
the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as
explained above.
4.7 Foreign currencies
(a) Functional and presentation currency

The Group’s and the Company’s financial statements are presented in RM which is also the
Company’s functional currency. Each entity in the Group determines its own functional currency
and items included in the financial statements of each entity are measured using that functional
currency.
(b) Transactions and balances

Transactions in foreign currencies are initially recorded by the Group entities at the functional
currency spot rates at the date the transaction first qualifies for recognition. Monetary assets and
liabilities denominated in foreign currencies are translated at the functional currency spot rates at
the reporting date.

4.7 Foreign currencies (Cont’d)
(b) Transactions and balances (Cont’d)
Differences arising on settlement or translation of monetary items are recognised in profit or loss
with the 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 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.
Non-monetary items that are measured in terms of historical cost in a foreign currency are
translated using the 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 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 recognised in OCI
or profit or loss are also recognised in OCI or profit or loss, respectively).
Any goodwill arising on the acquisition of a foreign operation and any fair value adjustments to
the carrying amounts of assets and liabilities arising on the acquisition are treated as assets and
liabilities of the foreign operation and translated at the spot rate of exchange at the reporting
date.
(c) Group companies
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 comprehensive income are
translated at exchange rates prevailing 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 recognised in profit or loss.
4.8 Revenue and other income recognition

Revenue and other income are recognised to the extent that it is probable that the economic benefits
will flow to the Group and the Company and the revenue and other income can be reliably measured,
regardless of when the payment is being made. Revenue and other income are measured at the fair
value of the consideration received or receivable, taking into account contractually defined terms of
payment and excluding taxes or duty. The Group and the Company have concluded that they are the
principals in all of their revenue arrangements since they are the primary obligors in all the revenue
arrangements, have pricing latitude and are also exposed to inventory and credit risks.
The specific recognition criteria described below must also be met before revenue is recognised.
(a) Sale of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership
of the goods have passed to the buyer, usually on delivery of the goods.
(b)
Dividend income
Dividend income is recognised when the Company’s right to receive payment is established.
(c) Management fees
Management fees are recognised when services are rendered.
(d)
Interest income
For all financial instruments measured at amortised cost and interest bearing financial assets
classified as available-for-sale and at fair value through profit or loss, interest income or expense
is recorded using the effective interest rate (EIR), which is the rate that exactly discounts the
estimated future cash payments or receipts through the expected life of the financial instrument
or a shorter period, where appropriate, to the net carrying amount of the financial asset or liability.
Interest income is included in finance income in profit or loss.

4.8 Revenue and other income recognition (Cont’d)
(e) Rental income
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.
4.9 Employee benefits
(a) Short term benefits
Wages, salaries, bonuses and social security contributions are recognised as an expense in
the year in which the associated services are rendered by employees. Short term accumulating
compensated absences such as paid annual leave are recognised when services are rendered
by employees that increase their entitlement to future compensated absences. Short term non-
accumulating compensated absences such as sick leave are recognised when the absences
occur.
(b) Defined contribution plans
Defined contribution plans are post-employment benefit plans under which the Group and
the Company pay fixed contributions into separate entities or funds and will have no legal or
constructive obligation to pay further contributions if any of the funds do not hold sufficient
assets to pay all employee benefits relating to employee services in the current and preceding
financial years. Such contributions are recognised as an expense in profit or loss as incurred.
As required by law, companies in Malaysia make such contributions to the Employees Provident
Fund (“EPF”).
(c) Employee share option plans
Employees of the Group and of the Company receive remuneration in the form of share options
as consideration for services rendered. The cost of these equity-settled transactions with
employees is measured by reference to 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 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 expense recognised at the beginning and end of that period.
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 or non-vesting condition is satisfied, provided that all
other performance and/or service conditions are satisfied.
When the options are exercised, the employee share option reserve is transferred to share capital
if new shares are issued.
The employee share option reserve is transferred to retained earnings upon forfeiture or expiry of
the share options.
(d) Employee share grant plan (“ESGP”)
Employees of the Group and of the Company are entitled to performance based shares as
consideration for 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 trustee (“ESGP Trusts”). The trustee will be entitled
from time to time, to accept advances from the Group and the Company, upon such terms and
conditions as the Group and the Company and the trustee may agree to purchase the ordinary
shares of the Company (“Trust Shares”) from the open market for the ESGP Trusts. The value of
the ESGP Awards granted to Eligible Employees is recognised as an employee cost.
The ESGP Trusts’ asset is consolidated into the Group’s consolidated financial statements.
Dividends received by the ESGP Trusts are eliminated against the Company’s dividend payment.

4.10 Taxes
(a) Current income tax
Current income tax assets and liabilities for the current period 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 substantively enacted, at the reporting date
in the countries where the Group operates and generates taxable income.
Current income tax relating to items recognised directly in equity is recognised in equity and not
in profit or loss. Management periodically evaluates positions taken in the tax returns with respect
to situations in which applicable tax regulations are subject to interpretation and establishes
provisions where appropriate.
(b) Deferred tax
Deferred tax is provided using the liability method on temporary differences at the reporting date
between the tax bases of assets and liabilities and their carrying amounts for financial reporting
purposes.
Deferred tax liabilities are recognised for all taxable temporary differences, except:
(i) where the deferred tax liability arises from the initial recognition of goodwill or of an asset or
liability in 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
(ii) in respect of taxable temporary differences associated with investments in subsidiaries and
associates, 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.
Deferred tax assets are recognised for all deductible temporary differences, carry forward of
unused tax credits and unused tax losses, to the extent that it is probable that taxable profit will
be available against which the deductible temporary differences, and the carry forward of unused
tax credits and unused tax losses can be utilised, except:
(i) where 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 the transaction, affects neither the accounting profit nor taxable profit or
loss; and
(ii) in respect of deductible temporary differences associated with investments in subsidiaries,
deferred tax assets are recognised only to the extent that it is probable that the temporary
differences will reverse in the foreseeable future and taxable profit will be available against
which the temporary differences can be utilised.
The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the
extent that it is no longer probable that sufficient taxable profit will be available to allow all or part
of the deferred tax asset to be utilised. Unrecognised deferred tax assets are reassessed 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.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the
year when 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.
Deferred tax relating to items recognised outside profit or loss is recognised outside profit or
loss. Deferred tax items are recognised in correlation to the underlying transaction either in other
comprehensive income or directly in equity.
Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to
set off current tax assets against current tax liabilities and the deferred taxes relate to the same
taxable entity and the same taxation authority.

4.11 Borrowing costs
Borrowing costs directly attributable to the acquisition, construction or production of an asset that
necessarily takes 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 other borrowing costs are expensed in the period they occur. Borrowing
costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds.
4.12 Property, plant and equipment
Property, plant and equipment are stated at cost, net of accumulated depreciation and/or accumulated
impairment losses, if any. Such cost includes the cost of replacing component parts of the property,
plant and equipment and borrowing costs for long-term construction projects if the recognition criteria
are met.

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 a major inspection is performed, its cost is recognised in the
carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. All
other repair and maintenance costs are recognised in the 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.
Freehold land has an unlimited useful life and therefore is not depreciated. Capital work in-progress are
not depreciated as these assets are not available for use. Depreciation is computed on a straight-line
basis over the estimated useful lives of the assets as follows:
Buildings 20 to 50 years
Plant and equipment 10 years
Other assets 5 to 10 years
An item of property, plant and equipment is derecognised upon disposal or when no future economic
benefits are expected from its use or disposal. Any gain or loss on derecognition of the asset is
included in the profit or loss in the year the asset is derecognised.
The assets’ residual values, useful lives and methods of depreciation are reviewed at each financial
year end and adjusted prospectively, if appropriate.
4.13 Investment property
Investment property is property which is held either to earn rental income or for capital appreciation or
for both. Investment property is initially measured at cost, including transaction costs. Subsequent to
initial recognition, investment property is 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. Valuation is performed by accredited independent valuer
having an appropriate recognised professional qualification and recent experience in the location and
category of the properties being valued. Gains or losses arising from changes in the fair values of
investment property is included in profit or loss in the year in which they arise.
Subsequent expenditure is included in the investment property’s carrying amount only when it is
probable that future economic benefits associated with the item will flow to the Group and the cost of
the item can be measured reliably. All other repairs and maintenance costs are recognised in profit or
loss during the financial period in which they are incurred.
Investment property is derecognised either when it has been disposed of or when it 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 is recognised in the profit or
loss in the period of derecognition.
Transfers are made to (or from) investment property only when there is a change in use. For a transfer
from investment property to owner-occupied property, the deemed cost for subsequent accounting
is the carrying amount at the date of change in use. For a transfer from owner-occupied property
to investment property, the property is accounted for in accordance with the accounting policy for
property, plant and equipment set out in Note 4.12 up to the date of change in use.

4.14 Leases
The determination of whether an arrangement is, or contains, a lease is based on the substance of the
arrangement at the inception date, whether fulfilment of the arrangement is dependent on the use of
a specific asset or assets or the arrangement conveys a right to use the asset, even if that right is not
explicitly specified in an arrangement.
(a) Group as lessee
Finance leases which transfer to the Group substantially all the risks and benefits incidental to
ownership of the leased item, are capitalised at the commencement of the lease at the fair value
of the leased property or, if lower, at the present value of the minimum lease payments. Lease
payments are apportioned between finance charges and reduction of the lease liability so as to
achieve a constant rate of interest on the remaining balance of the liability. Finance charges are
recognised in finance costs in profit or loss.
A leased asset is depreciated over the useful life of the asset. However, if there is no reasonable
certainty that the Group will obtain ownership by the end of the lease term, the asset is depreciated
over the shorter of the estimated useful life of the asset and the lease term.
Operating lease payments are recognised as an operating expense in the profit or loss on a
straight-line basis over the lease term.
Land use rights are initially measured at cost. Following initial recognition, land use rights are
measured at cost less accumulated amortisation and accumulated impairment losses. The land
use rights are amortised over their lease terms.
Leasehold lands 50 to 100 years
(b) Group as lessor
Leases in which the Group do not transfer substantially all the risks and benefits of ownership of
the asset are classified as operating leases. Initial direct costs incurred in negotiating 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 rents are recognised as revenue in the period in
which they are earned.
4.15 Inventories
Inventories are stated at the lower of cost and net realisable value. Costs incurred in bringing the
inventories to their present location and condition are accounted for as follows:
- Raw materials, packing materials and consumables: purchase costs on a weighted average
basis.
- Former: purchase costs on a first in, first out basis.
- Finished goods and work-in-progress: costs of direct materials and labour and a proportion of
manufacturing overheads based on normal operating capacity, excluding borrowing costs.
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.
4.16 Impairment of non-financial assets

At each reporting date, an assessment is made as to 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
asset’s recoverable amount is estimated. 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. Recoverable amount
is determined for an individual asset unless the asset does not generate cash inflows that are largely
independent of those from other assets or groups of assets. When the carrying amount of an asset
or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its
recoverable amount.

4.16 Impairment of non-financial assets (Cont’d)
In assessing value in use, the estimated future cash flows are discounted to their present value using a
pre-tax discount rate that reflects current market assessments of the time value of money and the risks
specific to the 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 valuation multiples, quoted share prices for publicly traded
companies or other available fair value indicators.
Impairment calculation is based on detailed budgets and forecast calculations, which are prepared
separately for each CGU to which the individual assets are allocated. These budgets and forecast
calculations generally cover a period of five years. For longer periods, a long-term growth rate is
calculated and applied to project future cash flows after the fifth year.
Impairment losses of continuing operations, including impairment on inventories, are recognised in

profit or loss in expense categories consistent with the function of the impaired asset.
Goodwill is tested for impairment annually at reporting date and when circumstances indicate that
the carrying value may be impaired. Impairment is determined by assessing the recoverable amount
of each CGU (or group of CGUs) to which the goodwill relates. When the recoverable amount of the
CGU is less than its carrying amount, an impairment loss is recognised. Impairment losses relating to
goodwill cannot be reversed in future periods.
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, 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 impairment loss was recognised. The reversal
is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed
the carrying amount that would have been determined, net of depreciation, had no impairment loss
been recognised for the asset in prior years. Such reversal is recognised in profit or loss.
4.17 Financial instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial
liability or equity instrument of another entity.
4.18 Financial assets
(a) Initial recognition and measurement

Financial assets are classified, at initial recognition, as financial assets at fair value through profit
or loss, loans and receivables, held-to-maturity investments, available-for-sale financial assets,
or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All
financial assets are recognised initially at fair value plus, in the case of financial assets not recorded
at fair value through profit or loss, transaction costs that are attributable to the acquisition of the
financial asset.
Purchases or sales of financial assets that require delivery of assets within a time frame established
by regulation or convention in the marketplace (regular way trades) are recognised on the trade
date, i.e., the date that the Group and the Company commit to purchase or sell the asset.
The Group’s and the Company’s financial assets include cash and bank balances, trade and
other receivables, investments in debt securities and money market funds.

4.18 Financial assets (Cont’d)
(b)
Subsequent measurement
For purposes of subsequent measurement, financial assets are classified in four categories:
(i) Financial assets at fair value through profit or loss
Financial assets at fair value through profit or loss includes financial assets held for trading
and financial assets designated upon initial recognition at fair value through profit or loss.
Financial assets are classified as held for trading if they are acquired for the purpose
of selling or repurchasing in the near term. This category includes derivative financial
instruments entered into by the Group and the Company that are not designated as
hedging instruments in hedge relationships as defined by MFRS 139. Derivatives, including
separated embedded derivatives are also classified as held for trading unless they are
designated as effective hedging instruments. Financial assets at fair value through profit or
loss are carried in the statement of financial position at fair value with changes in fair value
recognised in finance income or finance costs in the profit or loss.
Derivatives embedded in host contracts are accounted for as separate derivatives and
recorded at fair value if their economic characteristics and risks are not closely related to
those of the host contracts and the host contracts are not held for trading or designated
at fair value through profit or loss. These embedded derivatives are measured at fair value
with changes in fair value recognised in profit or loss. Re-assessment only occurs if there
is either a change in the terms of the contract that significantly 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.
The Group and the Company have designated derivatives that do not qualify for hedge
accounting and money market funds as at fair value through profit or loss.
(ii) Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable
payments that are not quoted in an active market. After initial measurement, such financial
assets are subsequently measured at amortised cost using the effective interest rate
method (“EIR”), less impairment. 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 in finance income in the profit or loss. The losses arising
from impairment are recognised in profit or loss in finance costs for loans and in cost of
sales or other operating expenses for receivables. The category generally applies to trade
and other receivables.
Loans and receivables of the Group and Company comprise trade and other receivables
(other than prepaid operating expenses and tax recoverable), amount due from related
companies and cash and bank balances.
(iii)
Held-to-maturity investments
Non-derivative financial assets with fixed or determinable payments and fixed maturities
are classified as held to maturity when the Group and the Company have the positive
intention and an ability to hold them to maturity. After initial measurement, held to maturity
investments are measured at amortised cost using the EIR, less impairment. 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
income in profit or loss. The losses arising from impairment are recognised in profit or loss
as finance costs.
The Group and the Company did not have any held-to-maturity investments during the
financial years ended 31 August 2018 and 2017.

(b) Subsequent measurement (Cont’d)
(iv) Available-for-sale (“AFS”) financial assets
AFS financial assets include equity investments and debt securities. Equity investments
classified as AFS are those that are neither classified as held for trading nor designated at
fair value through profit or loss. Debt securities in this category are those that are intended
to be held for an indefinite period of time and that may be sold in response to needs for
liquidity or in response to changes in the market conditions.
After initial measurement, AFS financial assets are subsequently measured at fair value
with unrealised gains or losses recognised in OCI and credited in the fair value adjustment
reserve until the investment is derecognised, at which time the cumulative gain or loss is
recognised in other operating income, or the investment is determined to be impaired,
when the cumulative loss is reclassified from the fair value adjustment reserve to profit
or loss in finance costs. Interest earned whilst holding AFS financial assets is reported as
interest income using the EIR method.
The Group and the Company evaluates whether the ability and intention to sell their AFS
financial assets in the near term is still appropriate. When, in rare circumstances, the Group
and the Company are unable to trade these financial assets due to inactive markets, the
Group and the Company may elect to reclassify these financial assets if the management
has the ability and intention to hold the assets for foreseeable future or until maturity.
For a financial asset reclassified from the AFS category, the fair value carrying amount at the
date of reclassification becomes its new amortised cost and any previous gain or loss on
the asset that has been recognised in equity is amortised to profit or loss over the remaining
life of the investment using the EIR. Any difference between the new amortised cost and
the maturity amount is also amortised over the remaining life of the asset using the EIR. If
the asset is subsequently determined to be impaired, then the amount recorded in equity is
reclassified to profit or loss.
All quoted debt securities of the Group are designated as AFS financial assets.
(c) Derecognition
A financial asset (or, where applicable, a part of a financial asset or part of a group of similar
financial assets) is primarily derecognised (i.e. removed from the statements of financial position)
when:
- The rights to receive cash flows from the asset have expired;
- The Group and the Company have transferred their rights to receive cash flows from the
asset or has assumed an obligation to pay the received cash flows in full without material
delay to a third party under a ‘pass-through’ arrangement; and either (a) the Group and the
Company have transferred substantially all the risks and rewards of the asset, or (b) the
Group and the Company have neither transferred nor retained substantially all the risks and
rewards of the asset, but has transferred control of the asset.
When the Group and the Company have transferred their rights to receive cash flows from
an asset or has 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 rewards of the asset, nor transferred control
of the asset, the Group and the Company continue to 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.
Continuing involvement that takes the form of a guarantee over the transferred asset is
measured at the lower of the original carrying amount of the asset and the maximum
amount of consideration that the Group and the Company could be required to repay.

(d) Impairment of financial assets

The Group and the Company assess at each reporting date whether there is any objective evidence
that a financial asset or a group of financial assets is impaired. An impairment exists if one or more
events that has occurred since the initial recognition of the asset (an incurred ‘loss event’), has an
impact on the estimated future cash flows of the financial asset or the group of financial assets that
can be reliably estimated. Evidence of impairment may include indications that the debtor or a group
of debtors is experiencing significant financial difficulty, default or delinquency in interest or principal
payments, the probability that they will enter bankruptcy or other financial reorganisation and where
observable data indicate that there is a measurable decrease in the estimated future cash flows, such
as changes in arrears or economic conditions that correlate with defaults.

Financial assets carried at amortised cost

For financial assets carried at amortised cost, the Group and the Company first assess whether
objective evidence of impairment exists individually for financial assets that are individually
significant, or collectively for financial assets that are not individually significant. If the Group
and the Company determine that no objective evidence of impairment exists for an individually
assessed financial asset, whether significant or not, it includes the asset in a group of financial
assets with similar credit risk characteristics and collectively assesses them for impairment.
Assets that are individually assessed for impairment and for which an impairment loss is, or
continues to be, recognised are not included in a collective assessment of impairment.
The amount of any impairment loss identified is measured as the difference between the asset’s
carrying amount and the present value of estimated future cash flows (excluding future expected
credit losses that have not yet been incurred). The present value of the estimated future cash
flows is discounted at the financial asset’s original effective interest rate.
The carrying amount of the asset is reduced through the use of an allowance account and the
loss is recognised in profit or loss. Interest income (recorded as finance income in profit or loss)
continues to be accrued on the reduced carrying amount and is accrued using the rate of interest
used to discount the future cash flows for the purpose of measuring the impairment loss. Loans
together with the associated allowance are written off when there is no realistic prospect of
future recovery and all collateral has been realised or has been transferred to the Group and the
Company. If, in a subsequent year, the amount of the estimated impairment loss increases or
decreases because of an event occurring after the impairment was recognised, the previously
recognised impairment loss is increased or reduced by adjusting the allowance account. If a
write-off is later recovered, the recovery is credited to finance costs in profit or loss.

Available-for-sale (“AFS”) financial assets

For AFS financial assets, an assessment is made at each reporting date whether there is objective
evidence that an assets or a group of assets is impaired.
In the case of investments classified as AFS, objective evidence would include a significant or
prolonged decline in the fair value of the investment below its cost. ‘Significant’ is evaluated
against the original cost of the investment and ‘prolonged’ against the period in which the fair
value has been below its original cost. When there is evidence of impairment, the cumulative
loss (measured as the difference between the acquisition cost and the current fair value, less
any impairment loss on that investment previously recognised in profit or loss) is removed from
other comprehensive income and recognised in the statement of profit or loss. Impairment losses
on equity investments are not reversed through profit or loss; increases in their fair value after
impairment are recognised in other comprehensive income.
In the case of debt instruments classified as AFS, the impairment is assessed based on the same
criteria as financial assets carried at amortised cost. However, the amount recorded for impairment
is the cumulative loss measured as the difference between the amortised cost and the current fair
value, less any impairment loss on that investment previously recognised in profit or loss.
Future interest income continues to be accrued based on the reduced carrying amount of
the asset, using the rate of interest used to discount the future cash flows for the purpose of
measuring the impairment loss. The interest income is recorded as part of finance income. If, in a
subsequent year, the fair value of a debt instrument increases and the increase can be objectively
related to an event occurring after the impairment loss was recognised in profit or loss, the
impairment loss is reversed through profit or loss.

4.19 Financial liabilities
(a) Initial recognition and measurement
Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through
profit or loss, loans and borrowings, financial guarantee contracts, payables, or as derivatives as
appropriate.
All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings
and payables, net of directly attributable transaction costs.
The Group’s and the Company’s financial liabilities include trade and other payables, loans and
borrowings, financial guarantee contracts and derivative liabilities.
(b) Subsequent measurement
The measurement of financial liabilities depends on their classification, as described below:
(i) Financial liabilities at fair value through profit or loss
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.
Financial liabilities are classified as held for trading if they are acquired for the purpose of
selling in the near term. This category includes derivative financial instruments entered into
by the Group and the Company that are not designated as hedging instruments in hedge
relationships as defined by MFRS 139. Separated embedded derivatives are also classified
as held for trading unless they are designated as effective hedging instruments.
Gains or losses on liabilities held for trading are recognised in profit or loss.
The Group and the Company have designated derivatives that do not qualify for hedge
accounting as at fair value through profit or loss.
(ii) Other financial liabilities
The Group’s and the Company’s other financial liabilities include trade payables, other
payables and loans and borrowings.
Trade and other payables are recognised initially at fair value plus directly attributable
transaction costs and subsequently measured at amortised cost using the effective interest
method.
Loans and borrowings are recognised initially at fair value, net of transaction costs incurred,
and subsequently measured at amortised cost using the effective interest rate method.
Gains and losses are recognised in the profit or loss when the liabilities are derecognised
as well as through the effective interest rate method (EIR) amortisation process.
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 in
finance costs in profit or loss.
(c) Financial guarantee contracts
Financial guarantee contracts issued by the Group and the Company are those contracts that
require a payment to be made to reimburse the holder for a loss it incurs because the specified
debtor fails to make a payment when due in accordance with the terms of a debt instrument.
Financial guarantee contracts are recognised initially as a liability at fair value, adjusted for
transaction costs that are directly attributable to the issuance of the guarantee. Subsequently,
the liability is measured at the higher of the best estimate of the expenditure required to settle the
present obligation at the reporting date and the amount recognised less cumulative amortisation.

4.19 Financial liabilities (Cont’d)
(d)
Derecognition
A financial liability is derecognised when the obligation under the liability is discharged or
cancelled, or expired. When an existing financial liability is replaced by another from the same
lender on substantially different terms, or the terms of an existing liability are substantially modified,
such an exchange or modification is treated as the derecognition of the original liability and the
recognition of a new liability. The difference in the respective carrying amounts is recognised in
profit or loss.
(e) Offsetting of financial instruments
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 there is an intention to settle on a net basis, to realise the assets
and settle the liabilities simultaneously.
4.20 Derivative financial instruments and hedging activities

Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are
subsequently re-measured at their fair value.
The method of recognising the resulting gain or loss depends on whether the derivative is designated
as a hedging instrument, and the nature of the item being hedged. Derivatives that do not qualify
for hedge accounting are classified as held for trading and accounted for in accordance with the
accounting policy set out in Note 4.18. The Group and the Company designate certain derivatives as
hedges of a particular risk associated with a recognised asset or liability or a highly probable forecast
transaction (cash flow hedge).
The Group and Company document at the inception of the transaction the relationship between
hedging instruments and hedged items, as well as its risk management objectives and strategy for
undertaking various hedging transactions. The Group and Company also document their assessment,
both at hedge inception and on an ongoing basis, of whether the derivatives that are used in hedging
transactions are highly effective in offsetting changes in cash flows of hedged items.
Cash flow hedge
The effective portion of the gain or loss on the hedging instrument is recognised in OCI in the cash flow
hedge reserve, while any ineffective portion is recognised immediately in the statement of profit or loss.
Amounts recognised as OCI are transferred to profit or loss when the hedged transaction affects
profit or loss, such as when the hedged financial income or financial expense is recognised or when
a forecast sale occurs. When the hedged item is the cost of a non-financial asset or non-financial
liability, the amounts recognised as OCI are transferred to the initial carrying amount of the non-
financial asset or liability.
When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge
accounting, any cumulative gain or loss existing in equity at that time remains in equity and is recognised
when the forecast transaction is ultimately recognised in profit or loss. When a forecast transaction is
no longer expected to occur, the cumulative gain or loss that was reported in equity is immediately
transferred to the profit or loss within ‘other gains/ (losses)’ and ‘foreign exchange gains/(losses)’.
4.21 Cash and bank balances
Cash and bank balances in the statements of financial position comprise cash at banks and on hand
and short-term deposits.
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.

4.22 Share capital and share issue expenses
An equity instrument is any contract that evidences a residual interest in the assets of the Company
after deducting all of its liabilities. Ordinary shares are equity instruments and are recorded at the
proceeds received, net of directly attributable incremental transaction costs. Ordinary shares are
classified as equity. Dividends on ordinary shares are recognised in equity in the period in which they
are declared.
4.23 Cash dividend and non-cash distribution to equity holders of the Company
The Company recognises a liability to make cash or non-cash distributions to equity holders of the
parent when the distribution is authorised and the distribution is no longer at the discretion of the
Company. A distribution is authorised when it is approved by the shareholders and a corresponding
amount is recognised directly in equity.
Non-cash distributions are measured at the fair value of the assets to be distributed with fair value re-
measurement recognised directly in equity.
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 there is a present obligation (legal or constructive) as a result of
a past event and 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 it is expected 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.
4.25 Government grants
Government grants are recognised at their fair value where there is reasonable assurance that the
grant will be received and all conditions attached will be met. Government grants related to assets,
measured at nominal value, shall be presented in the statement of financial position either by setting up
the grant as deferred income or by deducting the grant in arriving at the carrying amount of the asset.
Grants that compensate the Group for expenses incurred are recognised as income over the periods
necessary to match the grant on a systematic basis to the costs that it is intended to compensate.
Grants that compensate the Group for the cost of an asset are presented by deducting the grants in
arriving at the carrying amount of the assets.
4.26 Contingencies
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 the Group and the Company.
Contingent liabilities and assets are not recognised in the statement of financial position of the Group
and of the Company.
4.27 Segment reporting
For management purposes, the Group is organised into operating segments based on their geographical
location 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 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 43, including the factors used to identify the reportable segments and the
measurement basis of segment information.

5. New and amended standards
The accounting policies adopted are consistent with those of the previous financial year except for the
adoption of the following new/revised MFRSs and Amendments to MFRSs:
Effective for annual periods

Description beginning on or after
Amendments to MFRS 107: Disclosures Initiatives 1 January 2017

Amendments to MFRS 112: Recognition of Deferred Tax for
Unrealised Losses 1 January 2017
Amendments to MFRS 12: Disclosure of Interests in Other
Entities (Annual Improvement to MFRS 2014-2016 Cycle) 1 January 2017
The nature and the impact of each amendment is described below:
Amendments to MFRS 107: Disclosures Initiatives

The amendments to MFRS 107 Statement of Cash Flows requires an entity to provide disclosures that enable
users of financial statements to evaluate changes in liabilities arising from financing activities, including
both changes arising from cash flows and non-cash changes. On initial application of these amendments,
entities are not required to provide comparative information for preceding periods. Apart from the additional
disclosures set out in the consolidated statement of cash flows, the application of these amendments has
had no impact on the Group and on the Company.
Amendments to MFRS 112: Recognition of Deferred Tax for Unrealised Losses

The amendments clarify that an entity needs to consider whether tax law restricts the sources of taxable
profits against which it may make deductions on the reversal of that deductible temporary difference.
Furthermore, the amendments provide guidance on how an entity should determine future taxable profits
and explain the circumstances in which taxable profit may include the recovery of some assets for more
than their carrying amount.
The application of these amendments has had no impact on the Group and on the Company as the Group
and the Company already assess the sufficiency of future taxable profits in a way that is consistent with
these amendments.
Amendments to MFRS 12: Disclosure of Interests in Other Entities (Annual Improvement to MFRS
2014-2016 Cycle)
The amendments clarify that an entity need not provide summarised financial information for interests in
subsidiaries, associates or joint ventures that are classified (or included in a disposal group that is classified)
as held for sale. The application of these amendments has had no effect on the Group as none of the Group’s
interest in these entities are classified, or included in a disposal group that is classified, as held for sale.

6. New and amended standards and interpretations issued but not yet effective
The standards and interpretations that are issued but not yet effective up to the date of issuance of the
Group’s and the Company’s financial statements are discussed below. The Group and the Company intend
to adopt these standards if applicable, when they become effective.
Effective for annual periods

Description beginning on or after
MFRS 9 Financial Instruments 1 January 2018

MFRS 15 Revenue from Contracts with Customers 1 January 2018
Clarifications to MFRS 15 Revenue from Contracts with Customers 1 January 2018
Amendments to MFRS 2: Classification and Measurement of
Share-based Payment Transactions 1 January 2018
Amendments to MFRS 4: Applying MFRS 9 Financial Instruments
with MFRS 4 Insurance Contracts 1 January 2018
Amendments to MFRS 140: Transfers of Investment Property 1 January 2018
IC Interpretation 22: Foreign Currency Transactions and
Advance Consideration 1 January 2018
Annual Improvements to MFRS Standards 2014 – 2016 Cycle 1 January 2018
MFRS 16 Leases 1 January 2019
Amendments to MFRS 9: Prepayment Features with Negative Compensation 1 January 2019
Amendments to MFRS 119: Plan Amendment, Curtailment or Settlement 1 January 2019
Amendments to MFRS 128: Long-term Interests in Associates and
Joint Venture 1 January 2019
IC Interpretation 23: Uncertainty over Income Tax Treatments 1 January 2019
Annual Improvements to MFRS Standards 2015–2017 Cycle 1 January 2019
Amendments to References to the Conceptual Framework in
MFRS Standards 1 January 2020
MFRS 17 Insurance Contracts 1 January 2021
Amendments to MFRS 10 and MFRS 128: Sale or Contribution of
Assets between an Investor and its Associate or Joint Venture Deferred

The directors expect that the adoption of the above standards and interpretations will have no material
impact on the financial statements in the period of initial application as discussed below:
MFRS 9 Financial Instruments

MFRS 9 introduces new requirements for classification and measurement, impairment and hedge accounting.
MFRS 9 is effective for annual periods beginning on or after 1 January 2018, with early application permitted.
Retrospective application is required, but comparative information is not compulsory. During the financial
year ended 31 August 2018, the Group and the Company performed a detailed impact assessment of all
three aspects of MFRS 9. The assessment is based on present available information and may be subject to
changes arising from further reasonable and supportable information being made available to the Group and
the Company in the financial year ending 31 August 2019 when the Group and the Company adopt MFRS 9.
Based on the analysis of the Group’s and of the Company’s financial assets and liabilities as at 31 August
2018 on the basis of facts and circumstances that exist at that date, the directors of the Company have
assessed the impact of MFRS 9 to the Group’s and the Company’s financial statements as follows:
(a) Classification and measurement
The Group and the Company do not expect a significant impact on its statements of financial position
or equity on applying the classification and measurement requirements of MFRS 9. They expect to
continue measuring at fair value all financial assets currently held at fair value.
Debt securities currently held as available-for-sale with gains and losses recorded in OCI will satisfy
the conditions for classification as fair value through other comprehensive income (“FVOCI”). Fair
value changes on debt securities at FVOCI are presented in OCI and are not subsequently transferred
to profit or loss. Upon sale of debt securities at FVOCI, the cumulative gain or loss in OCI is reclassified
to retained earnings. Money market funds currently measured at FVTPL which will continue to be
measured on the same basis under MFRS 9. Debt instruments currently measured at amortised cost
which meet the conditions for classification as amortised cost under MFRS 9.
There will be no impact on the Group’s and the Company’s accounting for financial liabilities, as the
new requirements only affect the accounting for financial liabilities that are designated at FVTPL and
modified financial liabilities, and the Group and the Company do not have any such financial liabilities.

6. New and amended standards and interpretations issued but not yet effective (Cont’d)
MFRS 9 Financial Instruments (Cont’d)
(b) Impairment
MFRS 9 requires the Group and the Company to record expected credit losses on all of its debt
securities, loans and trade receivables, either on a 12-month or lifetime basis. The Group and the
Company will apply the simplified approach and record lifetime expected losses on all trade receivables.
Based on readily available information as at date of this report, the Group and the Company do not
expect significant increase in allowance for doubtful debts.
(c) Hedging
The Group determined that all existing hedge relationships that are currently designated in effective
hedging relationships will continue to qualify for hedge accounting under MFRS 9. The Group has
chosen not to retrospectively apply MFRS 9 on transition to the hedges where the Group excluded the
forward points from the hedge designation under MFRS 139. As MFRS 9 does not change the general
principles of how an entity accounts for effective hedges, applying the hedging requirements of MFRS
9 will not have a significant impact on Group’s financial statements.
MFRS 15 Revenue from Contracts with Customers
MFRS 15 establishes a new five-step model that will apply to revenue arising from contracts with customers.
MFRS 15 will supersede the current revenue recognition guidance including MFRS 118 Revenue, MFRS 111
Construction Contracts and the related interpretations when it becomes effective.
The core principle of MFRS 15 is that an entity should recognise revenue which depict the transfer of
promised goods or services to customers in an amount that reflects the consideration to which the entity
expects to be entitled in exchange for those goods or services.
Under MFRS 15, an entity recognises revenue when (or as) a performance obligation is satisfied, such as
when “control” of the goods or services underlying the particular performance obligation is transferred to
the customer.
Either a full or modified retrospective application is required for annual periods beginning on or after 1
January 2018 with early adoption permitted.
The directors do not expect the application of MFRS 15 to have a significant impact on the financial
statements of the Group and of the Company.
MFRS 16 Leases

MFRS 16 will replace MFRS 117 Leases, IC Interpretation 4 Determining whether an Arrangement contains a
Lease, IC Interpretation 115 Operating Lease-Incentives and IC Interpretation 127 Evaluating the Substance
of Transactions Involving the Legal Form of a Lease. MFRS 16 sets out the principles for the recognition,
measurement, presentation and disclosure of leases and requires lessees to account for all leases under a
single on-balance sheet model similar to the accounting for finance leases under MFRS 117.
At the commencement date of a lease, a lessee will recognise a liability to make lease payments and an
asset representing the right to use the underlying asset during the lease term. Lessees will be required to
recognise interest expense on the lease liability and the depreciation expense on the right-of-use asset.
Lessor accounting under MFRS 16 is substantially the same as the accounting under MFRS 117. Lessors
will continue to classify all leases using the same classification principle as in MFRS 117 and distinguish
between two types of leases: operating and finance leases.
MFRS 16 is effective for annual periods beginning on or after 1 January 2019. Early application is permitted
but not before an entity applies MFRS 15. A lessee can choose to apply the standard using either a full
retrospective or a modified retrospective approach. The Group and the Company plan to assess the potential
effect of MFRS 16 on their financial statements in the next financial year.

7. Significant accounting judgements, estimates and assumptions
The preparation of financial statements requires management to make judgements, 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 could result in outcomes that require a material adjustment to the carrying
amount of the asset or liability affected in future periods.
7.1 Judgements made in applying accounting policies

In the process of applying the Group’s accounting policies, management has not made any critical
judgements, apart from those involving estimations, which could have a significant effect on the
amounts recognised in the financial statements except as discussed below:
Classification between investment property and property, plant and equipment
The Group has developed certain criteria based on MFRS 140 in making judgement whether a property
qualifies as an investment property. Investment property is a property 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 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 separately. If the portions could not be sold separately,
the property is an investment property only if an insignificant portion is held for use in the production
or supply of goods or services or for administrative purposes. Judgement is 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 property held to earn rental income
or capital appreciation is investment property as only an insignificant portion of the property is used in
the production or supply of goods or services or for administrative purposes and ancillary services are
not significant to the property.
7.2 Estimates and assumptions
The key assumptions concerning the future and other key sources of estimation uncertainty at the
reporting date, that have a significant risk of causing a material adjustment to the carrying amounts
of assets and liabilities within the next financial year, are described below. The Group based its
assumptions and estimates on parameters available when the financial statements were prepared.
Existing circumstances and assumptions about future developments, however, may change due to
market changes or circumstances arising beyond the control of the Group. Such changes are reflected
in the assumptions when they occur.
(a) Inventories
In determining the costing of inventories, management’s judgement is required in determining the
basis of finished goods and work-in-progress valuation which comprise costs of raw materials,
direct labour, other direct costs, and the appropriate allocation of overheads based on normal
operating capacity.
(b) Impairment of goodwill
Goodwill is tested for impairment annually 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.
When value in use calculations are undertaken, management must estimate future cash flows
from the cash-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.

8. Revenue
Group Company
2018 2017 2018 2017
RM’000 RM’000 RM’000 RM’000
Sale of goods 4,214,482 3,409,176 - -

Management fees from subsidiaries - - 4,912 4,310
Dividend income from subsidiaries - - 239,030 329,505
4,214,482 3,409,176 243,942 333,815
9. Interest income
Group Company
2018 2017 2018 2017
RM’000 RM’000 RM’000 RM’000
Interest income from:
Available-for-sale financial assets 4,285 11,929 - -

Loans and receivables 3,947 992 217 412
Financial assets at fair value
through profit or loss 4,011 4,309 - 1,449
Others 13 2 - -
12,256 17,232 217 1,861
10. Other income
Group Company
2018 2017 2018 2017
RM’000 RM’000 RM’000 RM’000
Realised gain on foreign exchange 2,435 26,031 - -

Net gain on fair value changes of derivatives - 829 - -
Rental income 9,557 6,021 - -
Gain on disposal of debt securities 273 4,032 - -
Gain on disposal of an associate - 1,205 - -
Gain on disposal of property, plant
and equipment - 3,087 - -
Gain on disposal of land use rights 4,664 - - -
Sales of scrap items 8,868 4,798 - -
Insurance claims 4,996 - - -
Sundry income 8,959 7,485 - 10
39,752 53,488 - 10

11. Profit before tax
The following items have been charged in arriving at profit before tax:
Group Company
2018 2017 2018 2017
RM’000 RM’000 RM’000 RM’000
Auditors’ remuneration:
Company’s auditors
- Statutory audit
- Current year 316 246 85 75
- Under/(over) provision in prior year 14 32 (7) -
- Other services 1,065 60 941 60
Other auditors
- Statutory audit
- Current year 583 371 - -
- (Over)/under provision in prior year (2) 19 - -
Depreciation on property, plant and
equipment (Note 16 and 48) 141,105 106,037 - -
Amortisation of land use rights (Note 17) 1,298 734 - -
Bad debt written off - 1,355 - -
Direct operating expenses arising
from investment property
- Rental generating property 699 667 - -
Net loss on foreign exchange
- realised - - 6 34
- unrealised 19,630 21,490 - -
Net loss on fair value changes of derivatives 2,262 - - -
Employee benefits expense (Note 12) 483,635 384,861 4,085 4,192
Non-executive directors’ remuneration
(Note 13) 839 745 837 742
Operating lease - Minimum lease payment
for building and machinery 2,600 952 - -
Net loss from fair value remeasurement
on investment property (Note 18) 721 3,096 - -
Loss on disposal of property,
plant and equipment 904 - - -
Property, plant and equipment written off (Note 16) 8,025 5,790 - -
12. Employee benefits expense
Group Company
2018 2017 2018 2017
RM’000 RM’000 RM’000 RM’000
Wages and salaries 434,340 345,795 3,050 3,264

Social security costs 3,303 4,377 2 2
Pension costs - defined contribution plan 17,061 12,726 319 392
Share options granted under ESOS 1,932 578 167 41
Shares granted under ESGP 975 2,359 - 53
Other staff related expenses 25,523 18,608 98 59
Executive directors’ fees 501 418 449 381
483,635 384,861 4,085 4,192
Included in employee benefits expense of the Group and of the Company are executive directors’
remuneration amounting to RM11,102,000 (2017: RM8,514,000) and RM4,121,000 (2017: RM3,974,000)
respectively as further disclosed in Note 13.

13. Directors’ remuneration
Group Company
2018 2017 2018 2017
RM’000 RM’000 RM’000 RM’000
Directors of the Company
Executive:
Salaries and other emoluments 4,791 4,727 3,208 3,123
Pension costs - defined contribution plan 406 474 302 375
Social security contributions 1 1 1 1
Share options granted under ESOS 204 166 161 41
Shares granted under ESGP 18 53 - 53
Fees 449 381 449 381
Benefits-in-kind 105 103 50 50
5,974 5,905 4,171 4,024
Non-executive:
Fees 753 669 753 669
Other emoluments 84 73 84 73
837 742 837 742
Other directors
Executive:
Salaries and other emoluments 4,680 2,450 - -
Pension costs - defined contribution plan 392 143 - -
Social security contributions 11 7 - -
Share options granted under ESOS 98 11 - -
Shares granted under ESGP - 64 - -
Fees 52 37 - -
Benefits-in-kind 106 22 - -
5,339 2,734 - -
Non-executive:
Fees 2 3 - -
Analysis excluding benefits-in-kind:

Total executive directors’ remuneration (Note 12) 11,102 8,514 4,121 3,974
Total non-executive directors’ remuneration
(Note 11) 839 745 837 742
Total directors’ remuneration

(excluding benefits-in-kind) 11,941 9,259 4,958 4,716
Total directors’ remuneration

(including benefits-in-kind) 12,152 9,384 5,008 4,766

14. Income tax expense
Major components of income tax expense
The major components of income tax expense for the years ended 31 August 2018 and 2017 are as follows:
Group Company
2018 2017 2018 2017
(Restated)
RM’000 RM’000 RM’000 RM’000
Current income tax:

- Malaysian income tax 51,876 31,650 - -
- Foreign tax 15,075 8,973 - -
- Real property gain tax (“RPGT”) 177 258 - -
- Under provision in respect of previous years 3,931 5,884 - -
71,059 46,765 - -
Deferred income tax (Note 21):

- Relating to origination and reversal of
temporary differences 15,199 1,261 - -
- Under provision in respect of previous years 4,431 6,488 - -
19,630 7,749 - -

Income tax expense recognised in profit or loss 90,689 54,514 - -
Reconciliation between tax expense and accounting profit
The reconciliation between tax expense and the product of accounting profit multiplied by the applicable
corporate tax rate for the years ended 31 August 2018 and 2017 are as follows:
Group Company
2018 2017 2018 2017
(Restated)
RM’000 RM’000 RM’000 RM’000
Profit before tax 528,595 385,043 233,759 327,273
Tax at Malaysian statutory tax rate of 24%

(2017: 24%) 126,863 92,410 56,102 78,546
Adjustments:
Different tax rates in other countries (1,569) (843) - -
Effects of tax incentives claimed by
foreign subsidiaries (6,926) (1,459) - -
Income not subject to tax (35,684) (37,525) (57,418) (79,528)
Non-deductible expenses 25,846 14,791 1,314 791
Effect of income subject to RPGT 177 258 - -
Expenses entitled for double deduction (27) (15) - -
Utilisation of tax incentives (22,982) (12,235) - -
Deferred tax assets not recognised in
respect of current year’s tax losses and
unabsorbed capital allowance 327 3,310 2 191
Deferred tax assets recognised in respect of
previously unutilised tax losses, unrecognised
export allowance, reinvestment allowance and
capital allowance (2,905) (14,520) - -
Share of results of associate (407) 235 - -
Under provision of deferred tax
in respect of previous years 4,431 6,488 - -
Under provision of income tax in
respect of previous years 3,931 5,884 - -

14. Income tax expense (Cont’d)
Reconciliation between tax expense and accounting profit (Cont’d)
The reconciliation between tax expense and the product of accounting profit multiplied by the applicable
corporate tax rate for the years ended 31 August 2018 and 2017 are as follows (Cont’d):
Group Company
2018 2017 2018 2017
(Restated)
RM’000 RM’000 RM’000 RM’000
Utilisation of unabsorbed losses,

reinvestment allowance and
capital allowances (386) (2,265) - -
Income tax expense recognised in

profit or loss 90,689 54,514 - -
Domestic income tax is calculated at the Malaysian statutory tax rate of 24% (2017: 24%) of the estimated
assessable profit for the year.
Taxation for other jurisdictions is calculated at the rates prevailing in the respective jurisdictions.
The above reconciliation is prepared by aggregating separate reconciliations for each national jurisdiction.
15. Earnings per share
(a) Basic
Basic earnings per share is calculated by dividing profit for the year, net of tax, attributable to owners
of the parent by the weighted average number of ordinary shares outstanding during the financial year,
excluding treasury shares held by the Company.
2018 2017
Profit for the year attributable to ordinary equity

holders of the Company (RM’000) 434,215 330,664

Weighted average number of ordinary shares in issue (‘000) 1,280,032 1,253,286
Bonus issue subsequent to year end, excluding treasury
held by the Company (‘000) (Note 47) 1,278,158 1,278,158
Adjusted weighted average number of ordinary shares in

issue and issuable (‘000) 2,558,190 2,531,444
Basic EPS
- before issuance of bonus shares (sen) 33.92 26.38
- after issuance of bonus shares (sen) 16.97 13.06

(b) Diluted
Diluted earnings per share is calculated by dividing profit for the year, net of tax, attributable to owners
of the parent by the weighted average number of ordinary shares 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.

15. Earnings per share (Cont’d)
(b) Diluted (Cont’d)
2018 2017

Profit for the year attributable to ordinary equity holders
of the Company (RM’000) 434,215 330,664

Weighted average number of ordinary shares in issue (‘000) 1,280,032 1,253,286
Effects of dilution:
Assumed exercise of share options 6 1,353
1,280,038 1,254,639
Bonus issue subsequent to year end, excluding treasury
held by the Company (‘000) (Note 47) 1,278,158 1,278,158
Adjusted weighted average number of ordinary shares in

issue and issuable (‘000) 2,558,196 2,532,797
Diluted EPS
- before issuance of bonus shares (sen) 33.92 26.36
- after issuance of bonus shares (sen) 16.97 13.06
The weighted average number of ordinary shares issued as at 31 August 2018 and 2017 have been
adjusted to reflect the bonus issue of 1 for 1 existing ordinary shares which was completed on
29 October 2018. Further details are disclosed in Note 47.
16. Property, plant and equipment
* Land Plant Capital

and and ** Other work-in
buildings equipment assets progress Total
Group RM’000 RM’000 RM’000 RM’000 RM’000
Cost
At 1 September 2016, as
previously stated 551,383 1,063,597 122,047 171,550 1,908,577
accounting policy (Note 48) 3,231 (35,438) - - (32,207)
restated 554,614 1,028,159 122,047 171,550 1,876,370
Additions # 143,535 111,859 21,008 202,850 479,252
Transfer to investment
property (Note 18) (292) (701) - - (993)
Reclassification 42,400 90,941 (954) (132,387) -
Written off (229) (13,974) (783) (6) (14,992)
Disposals (5,403) (8,684) (2,893) (2,392) (19,372)
Exchange differences 8,633 21,391 1,774 3,821 35,619
At 31 August 2017/
1 September 2017 743,258 1,228,991 140,199 243,436 2,355,884
Additions 26,342 166,447 28,647 237,663 459,099
property (Note 18) - - - (2) (2)
Acquisition of subsidiary
companies 87,308 180,128 5,405 1,318 274,159
Reclassification 43,109 108,176 3,599 (154,884) -
Written off (1,800) (19,483) (1,405) (12) (22,700)
Disposals (6,946) (24,183) (2,675) (348) (34,152)
Exchange differences (4,511) (8,978) (491) (206) (14,186)
At 31 August 2018 886,760 1,631,098 173,279 326,965 3,018,102

16. Property, plant and equipment (Cont’d)
* Land Plant Capital

and and ** Other work-in
buildings equipment assets progress Total
Group RM’000 RM’000 RM’000 RM’000 RM’000
Accumulated depreciation
previously stated 65,741 619,483 66,586 - 751,810
accounting policy (Note 48) - (4,377) - - (4,377)
restated 65,741 615,106 66,586 - 747,433
Depreciation charge for
the year (Note 11 and 48) 8,786 84,759 16,103 - 109,648
property (Note 18) (3) - - - (3)
Reclassification 842 182 (1,024) - -
Written off (178) (8,367) (657) - (9,202)
Disposals (174) (3,754) (1,120) - (5,048)
Exchange differences 1,646 15,650 885 - 18,181
Adjustment on depreciation
charge (Note 48) - (3,611) - - (3,611)
At 31 August 2017/
1 September 2017 76,660 699,965 80,773 - 857,398
Depreciation charge for
the year (Note 11) 11,639 110,810 18,656 - 141,105
Reclassification (2) (10) 12 - -
Written off (312) (13,162) (1,201) - (14,675)
Disposals (323) (21,606) (1,709) - (23,638)
Exchange differences (848) (5,750) (307) - (6,905)
At 31 August 2018 86,814 770,247 96,224 - 953,285
Net carrying amount
At 31 August 2017 666,598 529,026 59,426 243,436 1,498,486
At 31 August 2018 799,946 860,851 77,055 326,965 2,064,817

# As at 31 August 2017, there was a government grant received of RM2,489,000 deducted in arriving at
the carrying amount of plant and equipment.
** Other assets comprise motor vehicles, computer and software system, office equipment, signage,
small value of assets, fire extinguisher, furniture and equipment.

*Land and buildings

Freehold land Buildings Total
RM’000 RM’000 RM’000
Cost
At 1 September 2016, as previously stated 235,379 316,004 551,383

Effects of changes in accounting policy 3,231 - 3,231
At 1 September 2016, as restated 238,610 316,004 554,614

Additions 111,154 32,381 143,535
Transfer to investment property (Note 18) - (292) (292)
Reclassification 8,645 33,755 42,400
Written off - (229) (229)
Disposals (4,236) (1,167) (5,403)
Exchange differences 1,938 6,695 8,633
At 31 August 2017/1 September 2017 356,111 387,147 743,258

Additions 1,668 24,674 26,342
Acquisition of subsidiary companies 1,477 85,831 87,308
Reclassification 67 43,042 43,109
Written off - (1,800) (1,800)
Disposals - (6,946) (6,946)
Exchange differences (848) (3,663) (4,511)
At 31 August 2018 358,475 528,285 886,760
Accumulated depreciation
At 1 September 2016, as restated - 65,741 65,741

Depreciation charge for the year - 8,786 8,786
Transfer to investment property (Note 18) (3) (3)
Reclassification - 842 842
Disposals - (174) (174)
Exchange differences - 1,646 1,646
At 31 August 2017/1 September 2017 - 76,660 76,660

Depreciation charge for the year - 11,639 11,639
Reclassification - (2) (2)
Disposals - (323) (323)
Exchange differences - (848) (848)
At 31 August 2018 - 86,814 86,814
Net carrying amount
At 31 August 2017 356,111 310,487 666,598
At 31 August 2018 358,475 441,471 799,946

(a) During the financial year, the Group acquired property, plant and equipment at aggregate cost of
RM459,099,000 (2017: RM479,252,000) of which RM287,000 (2017: Nil) was acquired by means of
finance lease.
(b) Property, plant and equipment of a subsidiary with the following net carrying amount is pledged to a
bank for banking facility granted to the subsidiary as disclosed in Note 29.
2018 2017
RM’000 RM’000
Freehold land 1,080 9,106

Buildings 76,003 12,682
Plant and equipment 70,726 -
Motor vehicles 122 -
147,931 21,788
(c) Property, plant and equipment of a subsidiary with the following net carrying amount is under finance
lease arrangements as disclosed in Note 29.
2018 2017
RM’000 RM’000
Plant and equipment 755 -

Motor vehicles 1,060 -
1,815 -

17. Land use rights
Group
2018 2017
RM’000 RM’000

Cost
At 1 September 2017/2016 45,092 43,332

Additions 341 1,536
Acquisition of subsidiary companies 67,116 -
Disposals (4,923) -
Exchange differences (347) 224
At 31 August 2018/2017 107,279 45,092
Accumulated amortisation
At 1 September 2017/2016 4,635 3,871
Amortisation for the year (Note 11) 1,298 734
Disposals (281) -
Exchange differences (48) 30
At 31 August 2018/2017 5,604 4,635
Net carrying amount 101,675 40,457

Amount to be amortised:
- Not later than one year 1,781 754
- Later than one year but not later than five years 7,122 3,016
- Later than five years 92,772 36,687
101,675 40,457
The net carrying amounts of land use rights pledged as securities for loans and borrowings as disclosed in
Note 29 amounted to RM62,844,000 (2017: Nil).
18. Investment property
Group
2018 2017
(Restated)
RM’000 RM’000
Fair value of investment property (Note 40) 163,900 162,000

Freehold land
and building
2018 RM’000
Fair value

At 1 September 2017, as previously stated 83,156
Effects of change in accounting policy (Note 48) 78,844
At 1 September 2017, as restated 162,000

Additions from subsequent expenditure 2,619
Transfer from property, plant and equipment (Note 16) 2
Net loss from fair value remeasurement (Note 11) (721)
At 31 August 2018 163,900

18. Investment property (Cont’d)
Freehold land
and building
2017 RM’000
Fair value

At 1 September 2016, as previously stated 82,184
Effects of change in accounting policy (Note 48) 79,816
At 1 September 2016, as restated 162,000

Additions from subsequent expenditure 2,106
Transfer from property, plant and equipment (Note 16) 990
Net loss from fair value remeasurement (Note 11) (3,096)
At 31 August 2017 162,000
The fair value of the investment property was based on a valuation by an accredited independent qualified
valuer. Valuation was based on current prices in an active market for certain properties and where appropriate,
the investment method reflecting receipt of contractual rentals, expected future market rentals, current
market yields, void periods, maintenance requirements and approximate capitalisation rates were used.
The following table shows the valuation technique used in the determination of fair value within Level 3, as
well as the significant unobservable inputs used in the valuation model.
Valuation Significant unobservable Range

technique inputs 2018 2017

Land and building Investment Estimated rental value per RM3.70 to RM5.00 to
Method square feet per month RM5.20 RM6.00
Term yield rate 6.5% 6.5%
Occupancy rate 85.0% 49.0%
Long term vacancy rate 10.0% 15.0%
Reversionary yield rate 7.0% 7.0%

Using the discounted cash flows method, fair value is estimated using assumptions regarding the benefits
and liabilities of ownership over the asset’s life including an exit or terminal value. This method involves the
projection of 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 separately determined and differs from the discount rate.
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 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 cost, agent and commission costs and other operating and management
expenses. The series of periodic net operating income, along with an estimate of the terminal value
anticipated at the end of the projection period, is then discounted.
Significant increase(decrease) in estimated rental value in isolation would result in a significantly higher/
(lower) fair value of the property. Significant increases/(decreases) in the long term vacancy rate and yield
rates in isolation would result in a significantly lower/(higher) fair value.
Generally, a change in the assumption made for the estimated rental value is accompanied by a directionally
similar change in the rent growth per annum and discount rate (and exit yield), and an opposite change in
the long term vacancy rate.

19. Investment in subsidiaries
Company
2018 2017
RM’000 RM’000

Unquoted shares, at cost:
- In Malaysia 1,020,077 831,620
Less: Accumulated impairment losses (4,845) (4,845)
1,015,232 826,775
- Outside Malaysia 3,728 3,728
1,018,960 830,503
Details of the subsidiaries are as follows:
Proportion of
Country of ownership interest (%)
Name incorporation 2018 2017 Principal activities
Held by the Company:
Top Glove Sdn. Malaysia 100 100 Manufacturing and trading

Bhd. (“TGSB”)* of gloves
TG Medical Malaysia 100 100 Manufacturing and trading

Sdn. Bhd. (“TGMSB”)# of gloves
Great Glove Malaysia 100 100 Provision of

Sdn. Bhd.# management services

Top Glove Engineering Malaysia 100 100 Property investment
Sdn. Bhd.#
TG Medical United States 100 100 Trading of gloves

(U.S.A.), Inc.# of America
Top Quality Malaysia 100 100 Manufacturing and trading

Glove Sdn. Bhd.* of gloves
Top Care Sdn. Bhd.* Malaysia 100 100 Investment holding
GMP Medicare Malaysia 100 100 Manufacturing and trading

Sdn. Bhd.* of gloves
Eastern Press Malaysia 100 - Printer and stationery

Sdn. Bhd.#
Top Feel Malaysia 100 - Manufacture and sale of

Sdn. Bhd.# condoms and rubber
related products
Top Glove Labuan 100 - Investment holding

Labuan Ltd.#
Top Glove Global Malaysia 100 - Provision of

Sdn. Bhd.# management services

19. Investment in subsidiaries (Cont’d)
Proportion of
Held through TGSB:
Great Glove Thailand 74 74 Manufacturing and trading

(Thailand) Co. Ltd.# of gloves
Top Glove Medical Thailand 100 100 Manufacturing and trading

(Thailand) Co. Ltd.# of gloves
Top Glove Thailand 100 100 Producing and selling

Technology concentrate latex
(Thailand) Co. Ltd.#
B Tech Industry Thailand 100 100 Producing and selling

Co. Ltd.# concentrate latex
Top Quality Thailand 100 100 Dormant

Gloves (Thailand)
Co. Ltd.#
Top Glove Europe Germany 97.5 97.5 Trading of gloves

GmbH#
Great Glove The People’s 100 100 Manufacturing and trading

(Xinghua) Co. Ltd.# Republic of of gloves
China
TG Medical The People’s 100 100 Trading of gloves

Suzhou Co. Ltd.# Republic of
China
Top Glove Malaysia 100 100 Research and development

International on gloves and rubber
Sdn. Bhd.# goods
Top Glove Properties Malaysia 100 100 Property investment

Sdn. Bhd.#
Medi-Flex Pte. Ltd. Singapore 100 100 Investment holding

(“Medi-Flex”)#
BestStar Enterprise The British 100 100 Investment holding

Ltd.* Virgin Islands
Flexitech Sdn. Bhd. Malaysia 100 100 Manufacturing and trading

(“Flexitech”)* of gloves
TG Porcelain Sdn. Malaysia 100 100 Manufacturing of formers

Bhd. (“TGPSB”)#
TGGD Medical Clinic Malaysia 75 75 Providing of clinical and

Sdn. Bhd. (“TGGD”)# specialist medical
services
TG FMT Sdn. Bhd.* Malaysia 70 70 Manufacturing and trading

of chemicals
Top Glove Chemicals Malaysia 100 100 Manufacturing of chemicals

Sdn. Bhd.# and chemical
compounds

Proportion of
Held through TGMSB:
Top Healthy Fitness Malaysia 100 100 Fitness centre

Sdn. Bhd.#
Held through Great Glove (Xinghua) Co. Ltd.:
TG Medical (Xinghua) The People’s 100 100 Trading of gloves

Co. Ltd.# Republic of
China
TG Medical (Putian) The People’s 100 100 Trading of gloves

Co. Ltd.# Republic of
China

Held through Top Care Sdn. Bhd.:
Best Advance Malaysia 100 100 Investment holding

Resources Limited
(“Best Advance”)*
Green Resources Malaysia 100 100 Investment holding

Limited
(“Green Resources”)*
Aspion Sdn. Bhd. Malaysia 100 - Investment holding

(“Aspion”)#
Held through Top Feel Sdn. Bhd.:
Duramedical Malaysia 85 - Manufacturing of rubber

Sdn. Bhd.# dental dams and
exercise bands
Held through Best Advance:
PT. Topglove Indonesia 100 100 Investment holding

Indonesia
(“PT Top Glove”)# ^
Held through PT Top Glove:
PT. Agro Pratama Indonesia 95 95 Plantation of rubber trees

Sejahtera#
Held through Aspion:
Adventa Health Malaysia 100 - Distribution of medical

Sdn. Bhd.# gloves and other hospital
related products
Terang Nusa Malaysia 100 - Manufacturing and

(Malaysia) Sdn. Bhd.# distribution of surgical
and medical examination
gloves
Cytotec (M) Malaysia 100 - Generation and supply of

Sdn. Bhd.# energy and electricity
using biomass technology
Purnabina Malaysia 97.2 - Manufacturing and distribution

Sdn. Bhd.#** of medical gloves
Proportion of
Held through Aspion: (Cont’d)
Sentienx Malaysia 100 - Manufacturing and

Sdn. Bhd.# distribution of medical
and protection gloves
Terang Nusa Malaysia 100 - Dormant

Sdn. Bhd.#
Ulma International Germany 100 - Distribution of medical

GmbH# gloves and other hospital
related products
Suizze Health Hong Kong 100 - Investment holding

Limited#
Held through Adventa Health Sdn. Bhd.:
Beijing Adventa Health China 100 - Distribution of medical

Supplies Co. Ltd.# products and medical
devices
Held through Suizze Health Limited:
Kevenoll Do Brasil Brazil 100 - Distribution of medical

Produtos Medicos products and medical
Hospitalares LTDA# devices
* Audited by Ernst & Young, Malaysia

# Audited by firms other than Ernst & Young
^ The total equity interests held by the Group is 100% and it is held by the following subsidiaries:
2018 2017

(i) Best Advance Resources Limited 99.9% 99.9%
(ii) Green Resources Limited 0.1% 0.1%
** The total equity interests held by the Group is 97.2% and it is held by the following subsidiaries:

2018 2017

(i) Aspion Sdn Bhd 95.2% -
(ii) Terang Nusa (Malaysia) Sdn. Bhd. 2.0% -

Changes in group structure

(a) Incorporation of Top Glove Global Sdn. Bhd. (“TG Global”)
On 5 September 2017, the Company incorporated TG Global, a wholly-owned subsidiary in Malaysia
under the Companies Act 2016 with an issued and paid up capital of RM1.00 comprising 1 ordinary share.
(b) Incorporation of Top Glove Labuan Ltd. (“TG Labuan”)

On 31 October 2017, the Company incorporated TG Labuan, a wholly-owned subsidiary in Labuan
under the Labuan Companies Act 1990 with an issued and paid up capital of USD1.00 comprising 1
ordinary share.
(c) Incorporation of Top Feel Sdn. Bhd. (“Top Feel”)
On 31 October 2017, the Company incorporated Top Feel, a wholly-owned subsidiary in Malaysia under
the Companies Act 2016 with an issued and paid up capital of RM1.00 comprising 1 ordinary share.
(d) Acquisition of equity interest of NCI in Kevenoll Do Brasil Produtos Medicos Hospitalares LTDA
(“Kevenoll”)
On 30 May 2018, the Group completed the acquisition of the remaining 30% equity interest in Kevenoll for a
purchase consideration of USD1 million and Kevenoll became a wholly-owned subsidiary of the Group.
(e) Acquisition of Eastern Press Sdn. Bhd. (“EP”)
On 5 January 2018, the Company had acquired 5,000,000 ordinary shares representing 100% of the equity
interest in EP for a cash consideration of RM46,250,000, resulting in the Company became the holding
company of EP.
The acquired subsidiary has contributed the following results to the Group:
RM’000
Revenue 48,145
Profit for the year 1,262
The fair values of the identifiable assets and liabilities of EP as at the date of acquisition were:
Carrying
Fair value amount
RM’000 RM’000
Property, plant and equipment 32,912 33,993

Land use rights 17,100 9,887
Inventories 7,956 7,956
Trade and other receivables 20,201 20,201
Cash and bank balances 79 79
78,329 72,197
Trade and other payables 18,553 18,553

Loans and borrowings 29,153 29,153
Provision for retirement benefits 656 656
Deferred tax liabilities 5,314 3,842
53,676 52,204
Net identifiable assets 24,653 19,993
Group’s interest in the fair value of net identifiable assets 24,653

Total cost of acquisition 46,250
Goodwill on acquisition - provisional (Note 23) 21,597
The purchase price allocation for this acquisition is still incomplete as the Company is currently finalising its
identification and measurement of all intangible assets and its allocated goodwill. The Company has up to
12 months to complete such allocation. Accordingly, on a provisional basis, the Company has recognised
goodwill of RM21.6 million.
The effect of the acquisition on cash flows is as follows:
RM’000

Consideration settled in cash 46,250
Cash and cash equivalents of subsidiary acquired (79)
Net cash outflow on the acquisition 46,171

(f) Acquisition of Aspion Sdn. Bhd. (“Aspion”)
On 4 April 2018, Top Care Sdn. Bhd. (“TCSB”), a wholly-owned subsidiary of the Company had acquired
270,850,119 ordinary shares representing the entire equity interest in Aspion for a purchase consideration
of RM1,370 million. Accordingly, Aspion has become a wholly-owned subsidiary of TCSB.
Part of the purchase consideration amounting to RM1,233 million is settled in cash while the balance of
RM137 million is through issuance of 20,505,000 new ordinary shares in the Company at an issue price
of about RM6.6813 each (“Consideration Shares”). The Consideration Shares is listed and quoted on the
Main Market of Bursa Securities with effect from 9.00 a.m. on 5 April 2018.
2018
RM’000
Revenue 234,229
Profit for the year 9,603
The fair values of the identifiable assets and liabilities of Aspion as at the date of acquisition were:
Carrying
Fair value amount
RM’000 RM’000

Land use rights 49,358 49,358
Deferred tax assets 8,120 8,120
Inventories 77,739 77,739
Trade and other receivables 120,514 120,514
Derivative financial instruments 764 764
Cash and bank balances 11,789 11,789
507,024 507,024
Trade and other payables 93,873 93,873

Income tax payable 7,279 7,279
390,252 390,252
Net identifiable assets 116,772

Less: Non-controlling interests (4,941)

Total purchase consideration 1,370,000
Goodwill on acquisition - provisional (Note 23) 1,258,169

(f) Acquisition of Aspion Sdn. Bhd. (“Aspion”) (Cont’d)
RM’000
The purchase consideration was satisfied by:

a) Cash consideration 1,233,000
b) Issuance of 20,505,000 Consideration Shares 137,000
1,370,000

goodwill of RM1,258 million.
Summarised financial information for non-controlling interests of the acquired subsidiary has not been
disclosed as the carrying amount of the non-controlling interests in the consolidated statement of financial
position is immaterial to the Group.
RM’000
Consideration settled in cash 1,233,000

Cash and cash equivalents of subsidiary acquired (11,789)
Net cash outflow on the acquisition 1,221,211
(g) Acquisition of Duramedical Sdn. Bhd. (“Duramedical”)
On 14 May 2018, Top Feel Sdn. Bhd. (“Top Feel”), a wholly-owned subsidiary of the Company had acquired
212,500 ordinary shares representing 85% of the equity interest in Duramedical for a cash consideration of
RM3,778,000. Accordingly, Duramedical has become a subsidiary of Top Feel.
2018
RM’000
Revenue 727
Profit for the year 61
The fair values of the identifiable assets and liabilities of Duramedical as at the date of acquisition were:
Carrying
Fair value amount
RM’000 RM’000

Land use rights 658 312
Inventories 133 133
Trade and other receivables 89 89
Cash and bank balances 618 618
4,037 3,401

(g) Acquisition of Duramedical Sdn. Bhd. (“Duramedical”) (Cont’d)
The fair values of the identifiable assets and liabilities of Duramedical as at the date of acquisition were:
(Cont’d)
Carrying
Fair value amount
RM’000 RM’000
Trade and other payables 63 63

Deferred tax liabilities 183 30
1,857 1,704
Net identifiable assets 2,180

Less: Non-controlling interests (327)

Total purchase consideration 3,778
Goodwill on acquisition - provisional (Note 23) 1,925
goodwill of RM1.925 million.
Summarised financial information for non-controlling interests of the acquired subsidiary has not been
disclosed as the carrying amount of the non-controlling interests in the consolidated statement of financial
position is immaterial to the Group.
RM’000
Consideration settled in cash 3,778

Cash and cash equivalents of subsidiary acquired (618)
Net cash outflow on the acquisition 3,160

20. Investment in an associate
Group
2018 2017
RM’000 RM’000
Unquoted shares at cost 12,204 12,204

Share of post-acquisition reserves (10,507) (12,204)
1,697 -
Details of the associate are as follows:
Proportion of

Held through TGSB:
Value Add Sdn. Bhd.# Malaysia 27 27 Investment holding
# Audited by firms other than Ernst & Young
The financial year end of the above associate is non-coterminous with the Group. For the purpose of applying
the equity method of accounting, the latest available financial information has been used and appropriate
adjustments have been made for the effects of significant transactions between the dates of the latest available
financial information and financial years ended 31 August 2018 and 2017.
The summarised financial information of the associate, not adjusted for the proportion of ownership interest held
by the Group, is as follows:
Group
2018 2017
RM’000 RM’000
Assets and liabilities

Non-current assets 215,196 214,881
Current assets 1,442 2,463
Total assets 216,638 217,344
Non-current liabilities (190,154) (208,920)

Current liabilities (20,200) (14,872)
Total liabilities (210,354) (223,792)
Net assets/(liabilities) 6,284 (6,448)
Results
Revenue 15,029 22,194
Profit/(loss) for the year 12,732 (10,084)

20. Investment in an associate (Cont’d)
Reconciliation of the summarised financial information presented above to the carrying amount of the Group’s
interest in associates:
Group
2018 2017
RM’000 RM’000
Net (liabilities)/assets of associates at 1 September 2017/2016 (6,448) 11,730

Profit/(loss) for the year 12,732 (10,084)
Disposal of investment in an associate - (6,439)
Dividend paid - (2,135)
Other comprehensive income - 480
Net assets/(liabilities) of associates as at 31 August 2018/2017 6,284 (6,448)
Group’s share of net assets 1,697 -
21.
Deferred tax (assets)/liabilities
Deferred income tax as at 31 August 2018 and 2017 relates to the following:
Deferred tax liabilities Deferred tax assets

Unabsorbed
export
allowance,
business
losses,
Property, capital and
plant and reinvestment
equipment Others allowances Total
Group RM’000 RM’000 RM’000 RM’000
previously stated 52,272 17,300 (25,896) 43,676
accounting policy (Note 48) - 2,128 - 2,128
At 1 September 2016, as restated 52,272 19,428 (25,896) 45,804
Recognised in profit or loss,

as previously stated 15,019 2,361 (9,476) 7,904
Adjustment (Note 48) - (155) - (155)
As restated 15,019 2,206 (9,476) 7,749

Exchange difference - 23 - 23
At 31 August 2017/1 September 2017 67,291 21,657 (35,372) 53,576

Recognised in profit or loss 19,736 (3,497) 3,391 19,630
Acquisition of subsidiary companies - 7,203 - 7,203
Exchange difference - (27) - (27)
At 31 August 2018 87,027 25,336 (31,981) 80,382
The unutilised tax losses, unabsorbed capital allowances and other deductible temporary differences of the
Group are available indefinitely for offsetting against future taxable profits of the respective entities within the
Group, subject to no substantial change in shareholdings of those entities under the Income Tax Act, 1967 and
guidelines issued by the tax authority.

21. Deferred tax (assets)/liabilities (Cont’d)

The unutilised tax losses, unabsorbed capital allowances and other deductible temporary differences applicable
to foreign incorporated subsidiaries are pre-determined by and subject to the tax legislation of the respective
countries.
Presented after appropriate offsetting as follows:
Group
2018 2017
RM’000 RM’000
Deferred tax assets (14,288) (14,681)

80,382 53,576
Deferred tax assets have not been recognised by the Group and the Company in respect of the following items:
Group Company
2018 2017 2018 2017
RM’000 RM’000 RM’000 RM’000
Unutilised tax losses 5,787 17,094 1,895 1,895

Unabsorbed capital allowances 11,183 12,226 30 23
Unabsorbed reinvestment allowances 6,397 6,397 - -
23,367 35,717 1,925 1,918
Deferred tax assets have not been recognised by the Group and the Company in respect of these items as
it is not probable that taxable profits of the Company and the subsidiaries would be available against which
deductible temporary differences could be utilised.
22. Investment securities
Group Company
2018 2017 2018 2017
RM’000 RM’000 RM’000 RM’000
Current
Available-for-sale financial assets

- Debt securities
(quoted outside Malaysia) 106,019 125,453 - -
Financial assets at fair value through

profit or loss
- Money market funds
(quoted in Malaysia) 87,695 81,457 2 2,583
Total current investment securities 193,714 206,910 2 2,583
Non-current
Unquoted investments - golf club

membership 392 392 - -
194,106 207,302 2 2,583
Debt securities of the Group amounting to RM10,632,000 (2017: Nil) were pledged to a bank for credit facility
granted to the Group as disclosed in Note 29.

23. Goodwill
Goodwill has been allocated to Cash Generating Units (“CGUs”) identified as follows:
Group
2018 2017
RM’000 RM’000
Top Glove Medical (Thailand) Co. Ltd. 2,946 2,946

B Tech Industry Co. Ltd. 14,789 14,789
GMP Medicare Sdn. Bhd. 5,070 5,070
Eastern Press Sdn. Bhd. (Note 19(e)) 21,597 -
Aspion Sdn. Bhd. (Note 19(f)) 1,258,169 -
Duramedical Sdn. Bhd. (Note 19(g)) 1,925 -
1,304,496 22,805
Movement in goodwill:

As at 1 September 2017/2016 22,805 22,805
Acquisition of subsdiaries 1,281,691 -
As at 31 August 2018/2017 1,304,496 22,805
Key assumptions used in value-in-use calculations
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 covering a five years period.
The following describes each key assumption on which management has based its cash flow projections to
undertake impairment testing of goodwill:
(i) Growth rate for the 5 years projection is determined based on the management’s estimate on the industry
trends and past performances of the segments, thereafter terminal growth rate is assumed to be nil.
(ii) A pre-tax discount rate of 7.41% (2017: 9%) was applied in determining the recoverable amount of the
unit. The discount rate was estimated based on a weighted average cost of capital of the Company.
The Group is of the opinion that any reasonably possible change in the above key assumptions would not
materially cause the recoverable amount of the CGU’s to be lower than its carrying amount, other than the
provisional goodwill of Aspion as disclosed below.
Sensitivity to changes in key assumptions
The sensitivity test indicated that changes in the discount rate used in the value-in-use calculation of Aspion
Sdn. Bhd. will result in the recoverable amount to equal to the corresponding carrying amounts of the provisional
goodwill and related assets, assuming no change in other variables, is as follows:
Increase in discount rate 0.6%

24. Inventories
Group
2018 2017
RM’000 RM’000
Cost
Raw materials 140,239 80,727
Consumables and hardware 39,041 28,257
Work-in-progress 71,742 66,325
Finished goods 247,795 121,131
498,817 296,440
Net realisable value

Raw materials 927 -
Work-in-progress 5,570 2,509
Finished goods 2,872 16,826
508,186 315,775
During the year, the amount of inventories recognised as an expense of the Group amounted to RM3,368 million
(2017: RM2,804 million).
25. Trade and other receivables
Group Company
2018 2017 2018 2017
RM’000 RM’000 RM’000 RM’000
Trade receivables
Third parties 629,172 394,408 - -
Less: Allowance for impairment (3,422) (975) - -
Trade receivables, net 625,750 393,433 - -
Other receivables
Amounts due from subsidiaries - - 1,992 166
Sundry receivables 11,467 14,036 8 8
Refundable deposits 8,962 11,880 - -
20,429 25,916 2,000 174
Total trade and other receivables 646,179 419,349 2,000 174
Total trade and other receivables 646,179 419,349 2,000 174

Add: Cash and bank balances (Note 28) 164,836 240,068 151 484
Total loans and receivables 811,015 659,417 2,151 658

25. Trade and other receivables (Cont’d)
(a) Trade receivables
Trade receivables are non-interest bearing and are generally on 30 to 90 days (2017: 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 which represent their fair values on initial recognition.
Ageing analysis of trade receivables
The ageing analysis of the Group’s trade receivables is as follows:
Group
2018 2017
RM’000 RM’000
Neither past due nor impaired 523,360 356,685

1 to 30 days past due not impaired 72,324 34,131
31 to 60 days past due not impaired 10,637 2,071
61 to 90 days past due not impaired 5,417 38
91 to 120 days past due not impaired 7,820 61
More than 121 days past due not impaired 6,192 447

102,390 36,748
Impaired 3,422 975
629,172 394,408

Receivables that are neither past due nor impaired
Trade and other receivables that are neither past due nor impaired are creditworthy debtors with good
payment records with the Group and are mostly regular customers that have been transacting with the
Group.
None of the Group’s trade receivables that are neither past due nor impaired have been renegotiated during
the financial year.
Receivables that are past due but not impaired
The Group has trade receivables amounting to RM102,390,000 (2017: RM36,748,000) that are past due at
the reporting date but not impaired. These receivables are unsecured in nature.
Receivables that are impaired
The Group’s trade receivables that are impaired at the reporting date and the movement of the allowance
accounts used to record the impairment are as follows:
Group
2018 2017
RM’000 RM’000
Trade receivables-nominal amounts 3,422 975

Less: Allowance for impairment loss (3,422) (975)
- -

25. Trade and other receivables (Cont’d)
(a) Trade receivables (Cont’d)

Movements in the allowance accounts:
Group
2018 2017
RM’000 RM’000
1 September 2017/2016 975 975

Written off (975) -
Acquisition of subsidiary company 3,422 -
31 August 2018/2017 3,422 975
Trade receivables that are individually determined to be impaired at the reporting date relate to a debtor
that is in significant financial difficulty and has defaulted on payment. This receivable is not secured by any
collateral or credit enhancements.
(b) Related party balances
Amounts due from subsidiaries are unsecured, non-interest bearing and are repayable upon demand.
26. Other current assets
Group Company
2018 2017 2018 2017
RM’000 RM’000 RM’000 RM’000
Prepaid operating expenses 28,698 13,502 1,024 -

Goods and service tax refundable 52,613 35,688 47 -
Advances to suppliers for raw materials 1,852 489 - -
Advances to suppliers for
property, plant and equipment 23,217 1,579 - -
106,380 51,258 1,071 -
27. Derivative financial instruments
Group
2018 2017
RM’000 RM’000
Contract/ Contract/
Notional Fair value Notional Fair value
Amount Liabilities Amount Assets

Forward currency contracts 366,378 (856) 211,595 645
At 31 August 2018, the Group held forward currency contracts designated as hedges of expected future sales
to customers and repayment of loan for which the Group has firm commitments. Forward currency contracts
used to hedge the Company’s sales are denominated in USD86,339,000 and EUR2,750,000 for which firm
commitments existed at the reporting date, extending to January 2019 (2017: November 2017).
During the financial year, the Group recognised a loss of RM2,262,000 (2017: gain of RM829,000) in the profit or
loss arising from changes in the fair value of the forward currency contracts.

28. Cash and bank balances
Group Company
2018 2017 2018 2017
RM’000 RM’000 RM’000 RM’000
Cash on hand and at banks 159,979 230,005 151 484

Deposits with licensed banks and
other financial institutions 4,857 10,063 - -
Cash and bank balances 164,836 240,068 151 484

Less: Deposits pledged with banks
with maturity of more than
3 months (2,462) (1,549) - -
Cash and cash equivalents 162,374 238,519 151 484
Cash at banks and deposits with licensed banks and other financial institutions of the Group amounting to
RM2,462,000 (2017: RM1,549,000) are pledged to banks for credit facility granted to the Group as disclosed in
Note 29.
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:
Group
2018 2017

Weighted average effective
interest rates (%) 2.26 1.59
Maturity days 7 days - 365 days 1 day - 357 days
29. Loans and borrowings
Group
2018 2017
Maturity RM’000 RM’000
Current
Secured:
RM Bank overdrafts On demand 1,511 -
RM Bankers’ acceptances 2018 42,714 -
Hire purchase payables (Note 39(c)) 2019 725 -
USD Revolving credit 2018 98,146 -
USD Revolving loan 2019 21,441 20,988
RM Term loan 2019 2,637 -
USD Term loan 2019 90,746 267
RM Trade loan financing 2018 33,465 -
USD Trade loan financing 2018 14,446 -
305,831 21,255
Unsecured:
Thai Baht Promissory notes 2018 51,357 67,409
USD Revolving credit 2018 471,754 183,180
RM Revolving credit 2018 54,000 42,800
RM Term loan 2019 3,125 -
Less: Unamortised transaction costs (3,492) -
576,744 293,389
Total current loans and borrowings 882,575 314,644

29. Loans and borrowings (Cont’d)
Group
2018 2017
Maturity RM’000 RM’000

Non-current
Secured:
Hire purchase payables (Note 39(c)) 2020 - 2024 1,038 -
USD Revolving loan 2020 - 2021 35,674 60,666
RM Term loan 2020 - 2035 13,735 -
USD Term loan - 1,084
50,447 61,750
Unsecured:
USD Syndicated term loan 2023 1,273,325 -
Less: Unamortised transaction costs (5,288) -
1,268,037 -
RM Term loan 2022 11,875 -
1,279,912 -
Total non-current loans and borrowings 1,330,359 61,750
Total loans and borrowings 2,212,934 376,394
The range of interest rates at the reporting date for borrowings is as follows:
Group
2018 2017
% %
Bank overdrafts 7.5% Nil

Bankers’ acceptances 3.9% to 8.1% Nil
Hire purchase payables 2.5% to 5.3% Nil
Promissory notes 1.9% to 7.1% 2.0% to 2.3%
Trade loan financing 3.2% to 4.6% Nil
Revolving credit 1.8% to 5.6% 1.8% to 3.8%
Revolving loan 1.9% to 2.8% 1.93%
Syndicated term loan 2.7% to 3.3% Nil
Term loan 3.4% to 5.5% 0.9% to 3.3%
The remaining maturities of the loans and borrowings as at 31 August 2018 and 2017 are as follows:
Group
2018 2017
RM’000 RM’000
On demand or within one year 882,575 314,644

More than 1 year and less than 2 years 789,952 21,596
More than 2 years and less than 5 years 534,487 40,154
More than 5 years 5,920 -
2,212,934 376,394
The RM bank overdrafts, RM bankers’ acceptances, hire purchase payables, USD revolving credit, USD revolving
loan, RM term loan, USD term loan, RM trade loan financing, USD trade loan financing of the Group and of the
Company are secured by certain assets of the Group and of the Company as follows:
(i) fixed charge over certain property, plant and equipment and land use rights as disclosed in Note 16 and 17
respectively;
(ii) corporate guarantee from the Company as disclosed in Note 45;
(iii) USD loan at 2.2% to 2.7% p.a. was secured by charges over debt securities of the Group as disclosed
in Note 22; and
(iv) deposits with licensed banks and other financial institutions as disclosed in Note 28.

30. Trade and other payables
Group Company
2018 2017 2018 2017
RM’000 RM’000 RM’000 RM’000
Trade payables 275,801 233,494 - -
Other payables
Accrued operating expenses 82,067 56,546 1,499 2,488
Sundry payables 141,817 128,762 9 77
223,884 185,308 1,508 2,565
Total trade and other payables 499,685 418,802 1,508 2,565

Add: Loans and borrowings (Note 29) 2,212,934 376,394 - -
Total financial liabilities carried at

amortised cost 2,712,619 795,196 1,508 2,565
(a) Trade payables
These amounts are non-interest bearing. The normal trade credit term granted to the Group ranges from 30
to 90 days (2017: range from 30 to 90 days).
(b) Other payables
These amounts are non-interest bearing. Other payables are normally settled on an average term of 30 to
90 days (2017: range from 30 to 90 days).
31. Other current liabilities
These amounts represent advances received from customers for goods purchased.
32. Share capital
Group and Company

2018 2017
Number of Monetary Number of Monetary
shares value shares value
‘000 RM’000 ‘000 RM’000
Issued and fully paid

At 1 September 2017/2016 1,256,299 636,644 1,254,812 627,406
Exercise of ESOS 3,425 11,972 1,487 3,128
Issued for acquisition of a subsidiary (Note 19(f)) 20,505 137,000 - -
Transfer from share option reserve - 2,093 - -
Transition to no-par value regime* - - - 6,110
At 31 August 2018/2017 1,280,229 787,709 1,256,299 636,644
* The new Companies Act 2016 (“the Act”), which came into operation on 31 January 2017, abolished the
concepts of authorised share capital and par value of share capital. Consequently, the amounts standing
to the credit of the share premium account of RM6,110,000 become part of the Company’s share capital
pursuant to the transitional provisions set out in Section 618(2) of the Act. Notwithstanding this provision,
the Company may within 24 months from the commencement of the Act, use the amount standing to the
credit of its share premium account of RM6,110,000 for purposes as set out in Section 618(3). There is no
impact on the number of ordinary shares in issue or the relative entitlement of any of the members as a
result of this transition.

32. Share capital (Cont’d)
On 10 October 2018, the Company obtained shareholders’ approval at its Extraordinary General Meeting for a
bonus issue of 1,280,229,124 new ordinary shares on the basis of 1 bonus share for every 1 existing ordinary
share. The bonus issue was completed on 29 October 2018.
The holders of ordinary shares (except treasury shares) are entitled to receive dividends as and when declared
by the Company. All ordinary shares carry one vote per share without restrictions and rank equally with regard to
the Company’s residual assets.
The new ordinary shares issued during the year ranked pari passu in all respects with the existing ordinary shares
of the Company.
33. Share premium
This is a non-distributable reserve which arose from the issue of the Company’s shares at a premium:
Group and Company

2018 2017
RM’000 RM’000
At 1 September 2017/2016 - 4,781

Issuance of ordinary shares pursuant to ESOS - 1,051
Transfer from share option reserve - 278
Transition to no-par value regime - (6,110)
At 31 August 2018/2017 - -
34. Treasury shares
This amount relates to the acquisition cost of treasury shares net of the proceeds received on their
subsequent sale or issuance.
The shareholders of the Company, by an ordinary resolution passed in an annual general meeting held on 5
January 2017, renewed their approval for the Company’s plan to repurchase its own shares. The directors
of the Company are committed in enhancing the value of the Company to its shareholders and believe that
the Share Buy Back can be applied in the best interests of the Company and its shareholders.
During the financial year, the Company transferred 93,700 treasury shares to eligible employees under
employee share grant scheme at average market price of RM10.40 per share. The total transferred treasury
shares net of transaction costs were RM975,000. The difference between the transferred treasury shares
and the cost of the treasury shares amounted to RM561,000 was recognised in equity.
Of the total 1,280,229,000 issued and fully paid ordinary shares as at 31 August 2018, 2,071,000 are held as
treasury shares by the Company. As at 31 August 2018, the number of outstanding ordinary shares in issue
and fully paid is therefore 1,278,158,000 ordinary shares.

35. Other reserves
Foreign Share Fair value Cash flow

exchange Legal option adjustment hedge
reserve reserve reserve reserve reserve Total
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Group
At 1 September 2016 25,676 4,278 2,861 (4,307) - 28,508

Gain on fair value changes - - - 9,641 - 9,641
Transfer to profit or loss upon
disposal of debt securities - - - (4,032) - (4,032)
Foreign currency translation 28,024 - - - - 28,024
ESOS - - 578 - - 578
Transfer from/(to) retained
earnings - 651 (593) - - 58
Transfer to share premium - - (278) - - (278)
At 31 August 2017/ 53,700 4,929 2,568 1,302 - 62,499

1 September 2017
Loss on fair value changes - - - (2,192) (41,504) (43,696)
Transfer to profit or loss upon
disposal of debt securities - - - (273) - (273)
Foreign currency translation (17,575) - - - - (17,575)
ESOS - - 1,932 - - 1,932
Transfer from/(to) retained
earnings - 4,235 (478) - - 3,757
Transfer to share capital - - (2,093) - - (2,093)
At 31 August 2018 36,125 9,164 1,929 (1,163) (41,504) 4,551
Share option reserve

RM’000
Company
At 31 August 2016/1 September 2016 2,861

Share options granted under ESOS 578
Transfer to share premium (278)
Transfer to retained earnings (593)
At 31 August 2017/1 September 2017 2,568

Share options granted under ESOS 1,932
Transfer to share capital (2,093)
Transfer to retained earnings (478)
At 31 August 2018 1,9

29
(a) Foreign exchange reserve
The foreign currency translation reserve is used to record exchange differences arising from the
translation of 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 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.
(b) Legal reserve
This represents a general reserve provided for in respect of subsidiaries incorporated in the People’s
Republic of China and Thailand.

35. Other reserves (Cont’d)

(b) Legal reserve (Cont’d)
Under the Wholly Foreign Owned Enterprise (“WFOE”) Law in the People’s Republic of China, at
least 10% of the net profit after taxation in each financial year must be credited to this reserve, until it
reaches 50% of the registered paid up capital of the subsidiary.
Under the Civil and Commercial Code in Thailand, a company is required to set aside a statutory
reserve equal to at least 5% of its net profit each time when the company pays out a dividend, until it
reaches 10% of the registered share capital of the company.
(c) Share option reserve
The share option reserve represents the equity-settled share options granted to employees. This
reserve is made up of the cumulative value of services received from employees recorded on grant of
share options.
(d) Fair value adjustment reserve
Fair value adjustment reserve represents the cumulative fair value changes, net of tax, of available-for-
sale financial assets until they are disposed of or impaired.
(e) Cash flow hedge reserve
The cash flow hedge reserve represents the effective portion of the cash flow hedge relationships
incurred at the reporting date
36. Retained earnings

The Company may distribute dividends out of its entire retained earnings as at 31 August 2018 and 2017
under the single tier system.
37. Share based payments

(i) Employee share options scheme (“ESOS”)
The Company’s ESOS is governed by the By-Laws which was approved by the shareholders at the
Extraordinary General Meeting held on 9 January 2018 and became effective on 2 August 2018.
The main features of the ESOS are as follows:
(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 approvals.
(b) Eligible persons are employees of the Group (including executive directors) who have been
confirmed in the employment of the Group and have served for at least one year before the date
of the offer. The eligibility for participation in the ESOS shall be at the discretion of the Options
Committee appointed by the Board of Directors.
(c) The total number of shares to be issued under the ESOS shall not exceed in aggregate 10% of the
issued and paid up share capital of the Company at any point of time during the tenure of the ESOS.
(d) The option price for each share shall be the 5-days weighted average market price of the
underlying shares at the time the ESOS Options are granted, with either a premium or a discount
of not more than ten percent (10%).
(e) No option shall be granted for less than 100 shares to any eligible employee.
(f) An option granted under the ESOS shall be capable of being exercised by the grantee by notice
in writing to the Company commencing from the vest date but before the expiry on 31 May 2028.
(g) All new ordinary shares issued upon exercise of the options granted under the ESOS will rank
pari passu in 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.
(h) No eligible person shall participate at any time in more than one share option scheme implemented
by any company within the Group unless otherwise approved by the Options Committee.
(i) The options shall not carry any right to vote at a general meeting of the Company.
37. Share based payments (Cont’d)
(i) Employee share options scheme (“ESOS”) (Cont’d)
The terms of share options outstanding as at end of the financial year are as follows:
Number of share options over the ordinary shares

Grant Expiry Exercise As at As at
date date price 1.9.2017 Granted Exercised Lapsed 31.8.2018
RM ‘000 ‘000 ‘000 ‘000 ‘000
2018
5.9.2008 1.8.2018 1.01 2.40 - - (2.4) -

5.3.2009 1.8.2018 1.13 2.40 - - (2.4) -
5.9.2009 1.8.2018 1.76 55.6 - (49.6) (6.0) -
5.2.2010 1.8.2018 2.82 12.0 - (12.0) - -
5.3.2010 1.8.2018 2.90 1,528.0 - (1,506.8) (21.2) -
5.4.2010 1.8.2018 3.49 23.2 - (23.2) - -
6.5.2010 1.8.2018 3.08 129.2 - (129.2) - -
5.6.2010 1.8.2018 3.06 39.0 - (39.0) - -
5.7.2010 1.8.2018 3.43 31.6 - (31.6) - -
6.8.2010 1.8.2018 3.26 12.8 - (12.8) - -
5.10.2011 1.8.2018 2.08 31.0 - (21.4) (9.6) -
3.4.2013 1.8.2018 2.76 282.2 - (262.6) (19.6) -
2.8.2014 1.8.2018 2.32 407.5 - (394.1) (13.4) -
1.6.2017 1.8.2018 5.33 938.4 - (938.4) - -
2.8.2018 31.5.2028 10.12 - 3,166.6 (4.7) - 3,161.9
3,495.3 3,166.6 (3,425.4) (74.6) 3,161.9
Number of share options over the ordinary shares

Grant Expiry Exercise As at As at
date date price 1.9.2016 Granted Exercised Lapsed 31.8.2017
RM ‘000 ‘000 ‘000 ‘000 ‘000
2017
5.9.2008 1.8.2018 1.01 2.4 - - - 2.4

5.3.2009 1.8.2018 1.13 7.2 - (4.8) - 2.4
5.9.2009 1.8.2018 1.76 91.8 - (36.2) - 55.6
5.11.2009 1.8.2018 2.06 28.0 - (28.0) - (0.0)
5.2.2010 1.8.2018 2.82 12.0 - - - 12.0
5.3.2010 1.8.2018 2.90 2,147.7 - (619.7) - 1,528.0
5.4.2010 1.8.2018 3.49 27.2 - (4.0) - 23.2
6.5.2010 1.8.2018 3.08 131.2 - (2.0) - 129.2
5.6.2010 1.8.2018 3.06 97.2 - (58.2) - 39.0
5.7.2010 1.8.2018 3.43 32.0 - (0.4) - 31.6
6.8.2010 1.8.2018 3.26 20.0 - (7.2) - 12.8
5.10.2011 1.8.2018 2.08 100.4 - (69.4) - 31.0
3.4.2013 1.8.2018 2.76 521.8 - (235.8) (3.8) 282.2
2.8.2014 1.8.2018 2.32 746.6 - (334.9) (4.2) 407.5
1.6.2017 1.8.2018 5.33 - 1,024.7 (86.3) - 938.4
3,965.5 1,024.7 (1,486.9) (8.0) 3,495.3

Details of share options exercised during the financial year and the fair value, at exercise date, of
ordinary shares issued are as follows:
Fair value Number of

Exercise of ordinary share Considerations
Exercise Date price shares options received
RM RM ’000 RM’000
2018
September 2017 - August 2018 1.76 5.50 - 11.56 49.6 87.3

September 2017 - August 2018 2.90 5.50 - 11.56 1,506.8 4,369.6
September 2017 - August 2018 5.33 5.50 - 11.56 938.4 5,001.7
3,425.4 11,971.9
2017
Before no-par value regime

492.4 1,297.4
Less: Par value of ordinary shares (246.2)
Share premium 1,051.2
After no-par value regime

September 2016 - August 2017 2.90 4.26 - 8.50 438.0 1,270.2
994.5 2,881.9

Fair value of share options
The fair value of share options granted during the year were estimated by using a binomial option
pricing model, taking into account the terms and conditions upon which the options were granted.
The fair value of share options granted on 2 August 2018 was estimated on the grant date using the
following assumptions:
Fair value of share options (RM) 0.61

Weighted average share price (RM) 10.18
Weighted average exercise price (RM) 10.12
Expected volatility (%) 34.43
Expected life (years) 9.84
Risk free interest rate (%) 4.07
Expected dividend yield (%) 1.47
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.
(ii) Employee share grant plan (“ESGP”)
The Company’s ESGP is governed by the By-Laws which was approved by the shareholders at the
Extraordinary General Meeting held on 6 January 2016 and became effective on 12 January 2016 and
is administered by the ESGP Committee.
Under the ESGP, Eligible Employees may be granted ESGP Awards comprising shares of the Company.
The ESGP Awards, once accepted, will vest without any consideration payable, subject to vesting
date(s) and/or vesting 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 Awards shall be satisfied through:
(a) the issuance of new shares of the Company

(b) the transfer of existing shares of the Company
(c) settlement in cash; or
(d) a combination of any of the above
The main features of the ESGP are as follows:
(a) The aggregate number of shares of the Company which may be awarded under the ESGP and
any other 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”).
(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 Committee appointed by the Board of Directors.
(c) The number of shares comprised in each ESGP Award shall be determined at the discretion of
the ESGP Committee after taking into consideration, inter alia, the performance and seniority,
years of service and potential for future development of the Eligible Employee and the employee’s
contribution to the Group as well as such other criteria as the ESGP Committee may deem
relevant.
(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 the Company which may be implemented from time to time
by the Company.
(e) The aggregate maximum allocation to the directors and senior management of the Group
(excluding dormant subsidiaries) shall not be more than 75% of the Company’s shares awarded
under the ESGP.

(ii) Employee share grant plan (“ESGP”) (Cont’d)
The main features of the ESGP are as follows (Cont’d):
(f) The ESGP shall be in force for a period of ten years from the effective date of implementation
which is the date the last of the requisite approvals and/or conditions have been obtained and/or
complied with.
(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 entitles to any dividends, rights, allotments and/or other distributions in respect of which the
entitlement date is prior to the date of allotment and issuance of the new shares.
38. Related party transactions
(a) Sales and purchase of goods
In addition to the related party information disclosed elsewhere in the financial statements, the
following significant transactions between the Group and related parties took place at terms mutually
agreed between the parties during the financial year:
Group Company
2018 2017 2018 2017
RM’000 RM’000 RM’000 RM’000
Gross dividends from subsidiaries - - 239,030 329,505

Management fees from subsidiaries - - 4,912 4,310
Purchase of raw materials from related
to certain directors of Company 71 22,033 - -
(b) Compensation of key management personnel
The remuneration of executive directors and other key management personnel during the financial
year were as follows:
Group Company
2018 2017 2018 2017
RM’000 RM’000 RM’000 RM’000
Salaries and other emoluments 10,276 8,853 3,208 3,123

Pension costs - defined contribution plan 896 817 302 375
Social security contributions 14 12 1 1
Share options granted under ESOS 317 191 161 41
Shares granted under ESGP 37 168 - 53
Fees 501 418 449 381
12,271 10,610 4,171 4,024
39. Commitments
(a) Capital commitments
Group
2018 2017
RM’000 RM’000
Property, plant and equipment:

Approved and contracted for 186,901 113,586

39. Commitments (Cont’d)
(b) Operating lease arrangements
(i) Group as lessee
In addition to the land use rights disclosed in Note 17, the Group had entered into commercial leases
on certain office equipment. These leases have an average tenure of between one and five years.
Future minimum rentals payable under non-cancellable operating leases (excluding land use
rights) at the reporting date are as follows:
Group
2018 2017
RM’000 RM’000
Future minimum rentals payments:

Not later than 1 year 1,439 1,474
Later than 1 year and not later than 2 years 460 1,125
Later than 2 years and not later than 5 years 314 378
2,213 2,977
(ii) Group as lessor
Future minimum rentals receivable under non-cancellable operating leases at the reporting date
are as follows:
Group
2018 2017
RM’000 RM’000
Future minimum rentals payments:

Not later than 1 year 6,079 6,040
Later than 1 year and not later than 2 years 4,548 4,846
Later than 2 years and not later than 5 years 5,519 8,107
16,146 18,993
(c) Hire purchase payables
Group
2018 2017
RM’000 RM’000
Minimum lease payments:

Not later than 1 year 774 -
Later than 1 year but not later than 2 years 688 -
Later than 2 years but not later than 5 years 373 -
Later than 5 years 15 -
Total minimum lease payments 1,850 -

Less: Amounts representing finance charges (87) -
Present value of minimum lease payments 1,763 -

Present value of payments:
Not later than 1 year 725 -
Later than 1 year but not later than 2 years 663 -
Later than 2 years but not later than 5 years 360 -
Later than 5 years 15 -
Present value of minimum lease payments 1,763 -

Less: Amount due within 12 months (Note 29) (725) -
Amount due after 12 months (Note 29) 1,038 -

40. Fair values
(i) Determination of fair value of financial instruments

Financial instruments that are not carried at fair value and whose carrying amounts are reasonable
approximation of fair value
The following are classes of financial instruments that are not carried at fair value and whose carrying
amounts are reasonable approximation of fair value:
Note
Trade and other receivables 25
Loans and borrowings (current) 29
Loans and borrowings (non-current) 29
Trade and other payables 30
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 the reporting date.
The fair values of loans and borrowings are estimated by discounting expected future cash flows at
market incremental lending rate for similar types of lending, borrowing or leasing arrangements at the
reporting date.
Investment securities (current)
Fair value is determined directly by reference to their published market bid price at the reporting date.
Derivatives
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.
Investment property
The fair value of the investment property was based on a valuation by an accredited independent
qualified value as disclosed in Note 18.
(ii) Fair value hierarchy
The following table provides the fair value measurement hierarchy of the Group’s assets and liabilities
as at reporting date:
Quoted
prices in Significant Significant
active observable unobservable
market inputs inputs
(Level 1) (Level 2) (Level 3) Total
RM’000 RM’000 RM’000 RM’000
Group
As at 31 August 2018
Current
Assets/(liabilities) measured at
fair value
Available-for-sale financial assets 106,019 - - 106,019
Financial assets at fair value through
profit or loss 87,695 - - 87,695
Derivative financial instruments - (856) - (856)
Non-current
Assets measured at fair value

Investment property (Note 18) - - 163,900 163,900

40. Fair values (Cont’d)
(ii) Fair value hierarchy (Cont’d)
Quoted
prices in Significant Significant
active observable unobservable
market inputs inputs
(Level 1) (Level 2) (Level 3) Total
RM’000 RM’000 RM’000 RM’000
Group
Current

Available-for-sale financial assets 125,453 - - 125,453
through profit or loss 81,457 - - 81,457
Derivative financial instruments - 645 - 645
Non-current

Investment property (Note 18) - - 162,000 162,000
Company
Current

through profit or loss 2 - - 2
Current

through profit or loss 2,583 - - 2,583

During the reporting period ended 31 August 2018 and 2017, there were no transfers between Level
1, Level 2 and Level 3 fair value measurements.
41. Financial risk management objectives and policies
Financial liabilities comprise loans and borrowings, trade and other payables, derivative liabilities and
financial guarantee contracts. The main purpose of these financial liabilities is to finance the Group’s and
the Company’s operations and to provide guarantees to support their operations. Financial assets include
trade and other receivables, debt securities, derivative assets, money market funds investments and cash
and short-term deposits.
The Group is exposed to market risk, credit risk and liquidity risk. 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 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 that no trading in derivatives for speculative purposes may be undertaken. The Board of Directors
reviews and agrees policies for managing each of these risks, which are summarised below:

41. Financial risk management objectives and policies (Cont’d)

(a) Market risk
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 comprise 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
investments and derivative financial instruments.
(b) Credit risk
Credit risk is the risk of loss that may arise on outstanding financial instruments should a counterparty
default on its 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
investments, cash and bank balances and derivatives), the Group and the Company minimise credit
risk by dealing exclusively with high credit rating counterparties.
The Group’s objective is to seek continual revenue growth while minimising losses incurred due to
increased credit risk exposure. The Group trades only with recognised and creditworthy third parties.
It is the Group’s policy that all 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.
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 amount of each class of financial assets recognised in the statements of financial
position, including derivatives liabilities.
Credit risk concentration profile
The Group has no significant concentration of credit risk that may arise from exposure to a single
debtor or to groups of debtors.
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). Deposits with banks and other financial institutions, debt securities and derivatives that
are neither past due nor impaired are placed with or entered into with reputable financial institutions or
companies with high credit ratings and no history of default.
Financial assets that are either past due or impaired
Information regarding financial assets that are either past due or impaired is disclosed in Note 25(a).
(c) Liquidity risk
Liquidity risk is the risk that the Group or the Company will encounter difficulty in meeting financial
obligations due to shortage of funds. The Group’s and the Company’s exposure to liquidity risk arises
primarily from mismatches of the maturities of financial assets and liabilities. The Group’s and the
Company’s objective is to maintain a balance between continuity of funding and flexibility through the
use of stand-by credit facilities.
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.

(c) Liquidity risk (Cont’d)
2018
On demand
or within One to Over
one year five years five years Total
RM’000 RM’000 RM’000 RM’000
Group
Financial liabilities
Trade and other payables,
excluding bank guarantees 499,685 - - 499,685
Derivatives 856 - - 856
Loans and borrowings 933,364 1,380,443 6,856 2,320,663
Total undiscounted financial

liabilities 1,433,905 1,380,443 6,856 2,821,204
Company
Corporate guarantees* 1,874,167 - - 1,874,167

liabilities 1,875,675 - - 1,875,675
2017
On demand
or within One to Over
one year five years five years Total
RM’000 RM’000 RM’000 RM’000
Group
Loans and borrowings 322,362 63,528 - 385,890

liabilities 741,164 63,528 - 804,692
Company
Corporate guarantees* 350,542 - - 350,542

liabilities 353,107 - - 353,107
* Based on the maximum amount that can be called for under the corporate guarantees.
No default has occurred at the end of the financial year.

(d) Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of the Group’s and the Company’s
financial instruments will fluctuate because of changes in market interest rates.
The Group’s exposure to interest rate risk arises primarily from its loans and borrowings. The Group
manages its interest rate exposure by maintaining a mix of fixed and floating rate borrowings. The
Group actively reviews its debt portfolio, taking into account the investment holding period and nature
of its assets. This strategy allows it to capitalise on cheaper funding in a low interest rate environment
and achieve a certain level of protection against rate hikes.
Sensitivity analysis for interest rate risk
At the reporting date, if interest rates had been 10 basis points lower/higher, with all other variables
held constant, the Group’s profit before tax would have been RM2,196,000 (2017: RM375,000) higher/
lower, arising mainly as a result of lower/higher interest expense on floating rate loans and borrowings.
The assumed movement in basis points for interest rate sensitivity analysis is based on the currently
observable market environment.
(e) Market price risk
The Group’s quoted investment securities are susceptible to market price risk arising from uncertainties
about future values of the investment securities. The Group manages the market price risk through
diversification and by placing limits on individual and total investment in investment securities. Reports
on the investment portfolio are submitted to the Group’s senior management on a regular basis. The
Board of Directors reviews and approves all investment decisions.
The Group has an Investment 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 Investment Committee
established certain criteria for current and future investment in debt securities. Any investment
differing from the criteria established will require the Investment Committee’s approval. The Investment
Committee also aims to establish an effective investment management framework for the Group.
At the reporting date, the exposure to quoted investment securities at fair value was disclosed in Note 22.
Sensitivity analysis for market price risk
The following table demonstrates the sensitivity of the Group’s debt investments to reasonably possible
price movements in investments classified as available-for-sale at the reporting date:
2018 2017
RM’000 RM’000
Group
Debt investments - strengthened 5% (2017: 5%) 5,301 6,273

- weakened 5% (2017: 5%) (5,301) (6,273)
(f) Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will
fluctuate because of changes in foreign exchange rates.
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 Malayisan Ringgit (“RM”), Thailand Baht (“Baht”), Chinese Renminbi (“RMB”) and
Australian Dollar (“AUD”). The foreign currencies in which these transactions are denominated are
mainly United States Dollars (“USD”), Euro and AUD. In addition, the Group has significant borrowings
in USD (Note 29). Therefore, the Group is exposed to foreign currency risk. These exposures are
managed, to the extent possible, by natural hedge that arise when payments for foreign currency
payables are matched against receivables denominated in the same foreign currency.

(f) Foreign currency risk (Cont’d)
The net unhedged financial assets and financial liabilities of the Group companies that are not
denominated in their functional currencies are as follows:
Net financial (liabilities)/assets held in

non-functional currency
USD Euro Total
RM’000 RM’000 RM’000
Functional currency
of Group companies
At 31 August 2018:
Ringgit Malaysia (462,206) (2,451) (464,657)
Thailand Baht 35,893 (261) 35,632
Chinese Renminbi 20,795 - 20,795
Australian Dollars 23,827 815 24,642
(381,691) (1,897) (383,588)
At 31 August 2017:
Ringgit Malaysia (175,598) (193) (175,791)
Thailand Baht 20,895 - 20,895
Chinese Renminbi 13,800 - 13,800
Australian Dollars 35,667 870 36,537
(105,236) 677 (104,559)
Sensitivity analysis for foreign currency risk
The following table demonstrates the sensitivity of the Group’s profit net of tax to a reasonably possible
change in the USD and EURO exchange rates against the respective functional currencies of the
Group entities, with all other variables held constant.
2018 2017
RM’000 RM’000
USD/RM - strengthened 5% (2017: 5%) (23,110) (8,780)

- weakened 5% (2017: 5%) 23,110 8,780
USD/Baht - strengthened 5% (2017: 5%) 1,795 1,045
- weakened 5% (2017: 5%) (1,795) (1,045)
USD/RMB - strengthened 5% (2017: 5%) 1,040 690
- weakened 5% (2017: 5%) (1,040) (690)
USD/AUD - strengthened 5% (2017: 5%) 1,191 1,783
- weakened 5% (2017: 5%) (1,191) (1,783)
EURO/RM - strengthened 5% (2017: 5%) (123) (10)
- weakened 5% (2017: 5%) 123 10
EURO/AUD - strengthened 5% (2017: 5%) 41 44
- weakened 5% (2017: 5%) (41) (44)

42. Capital management

The primary objective of the Group’s and of the Company’s capital management is to ensure that it maintains
a strong credit rating and healthy capital ratios in order to support its business and maximise shareholder
value.
The Group and the Company manage their capital structure and make adjustments, in light of changes
in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital
structure, the Group and the Company may adjust the dividend payment to shareholders, return capital to
shareholders or issue new shares. No changes were made in the objectives, policies or processes during
the years ended 31 August 2018 and 2017.
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 complied with by the above-mentioned subsidiaries for the financial years
ended 31 August 2018 and 2017.
The Group and the Company monitor capital using a gearing ratio, which is net debt divided by total capital
plus net debt. The Group and the Company include within net debt, loans and borrowings, trade and other
payables, less cash and cash equivalents. Capital includes equity attributable to the owners of the parent
less the fair value adjustment reserve and the above-mentioned restricted statutory reserve fund.
Group Company
Note 2018 2017 2018 2017
(Restated)
RM’000 RM’000 RM’000 RM’000
Loans and borrowings 29 2,212,934 376,394 - -

Trade and other payables 30 499,685 418,802 1,508 2,565
Other current liabilities 31 59,248 62,292 1 1
Less: cash and cash equivalents 28 (162,374) (238,519) (151) (484)
Net debt 2,609,493 618,969 1,358 2,082
Equity attributable to the owners

of the parent 2,378,481 2,055,231 1,020,687 831,194
Add/(less):
- Fair value adjustment reserve 35 1,163 (1,302) - -
- Legal reserve 35 (9,164) (4,929) - -
Total capital 2,370,480 2,049,000 1,020,687 831,194
Capital and net debt 4,979,973 2,667,969 1,022,045 833,276
Gearing ratio 52.40% 23.20% 0.13% 0.25%
43. Segment information
For management purposes, the Group is organised into business units based on their geographical areas,
and has five reportable operating segments.
Management monitors the operating results of its business units separately for the purpose of making
decisions about resource allocation and performance assessment. Segment performance is evaluated
based on operating profit or loss which, in certain respects as explained in the table below, is measured
differently from operating profit or loss in the consolidated financial statements. Group financing (including
finance costs), income taxes and share of results of associate are managed on a group basis and are not
allocated to operating segments.
The directors are of the opinion that all inter-segment transactions have been entered into the normal course
of business and have been established on negotiated and mutually agreed terms.

43. Segment information (Cont’d)
The The
People’s British
Republic Virgin
Malaysia Thailand of China Islands Others
Eliminations
Note
Consolidated
31 August 2018 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Revenue
External sales 3,514,891 390,050 176,748 - 132,793 - 4,214,482
Inter-segment
sales 66,983 354,082 2,094 - - (423,159) A -
Total revenue 3,581,874 744,132 178,842 - 132,793 (423,159) 4,214,482
Results
Interest income 10,618 107 129 4,315 - (2,913) 12,256
Depreciation
and
amortisation 117,655 17,973 5,751 - 1,024 - 142,403
Segment
profit/(loss) 514,212 66,403 27,881 5,927 (52,204) (33,624) B 528,595
Assets
Additions to
non-current
assets 439,382 16,264 5,944 - 469 - C 462,059
Segment assets 3,339,728 333,264 89,802 113,913 73,372 1,320,481 D 5,270,560
Liabilities
Segment
liabilities 1,366,564 102,211 20,417 11,878 1,272,372 103,350 E 2,876,792
Other segment
information
Capital
commitments 181,716 4,687 498 - - - 186,901
31 August 2017
Revenue
External sales 2,844,069 290,662 118,471 - 155,974 - 3,409,176
Inter-segment
sales 69,891 398,026 1,655 - - (469,572) A -
Total revenue 2,913,960 688,688 120,126 - 155,974 (469,572) 3,409,176
Results
Interest income 11,576 84 45 12,031 - (6,504) 17,232
Depreciation
and
amortisation 83,985 16,698 5,021 - 1,067 - 106,771
Segment
profit/(loss) 319,250 40,921 13,487 13,451 5,228 (7,294) B 385,043

The The
People’s British
Republic Virgin
Malaysia Thailand of China Islands Others
Eliminations
Note
Consolidated
31 August 2017 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Assets
Additions to
non-current
assets 430,922 45,874 6,085 - 13 - C 482,894
Segment assets 2,349,621 307,700 77,506 151,098 66,766 37,486 D 2,990,177
Liabilities
Segment
liabilities 717,253 108,365 22,630 - 9,240 68,257 E 925,745
Other segment
information
Capital
commitments 109,067 4,132 387 - - - 113,586
A Inter-segment revenues are eliminated on consolidation.
B The following items are (deducted from)/added to segment profit to arrive at profit before tax presented
in the consolidated income statement.
2018 2017
RM’000 RM’000
Share of results of associates 1,697 (980)

Finance costs (35,321) (6,314)
(33,624) (7,294)
C Additions to non-current assets consist of:
2018 2017
RM’000 RM’000

Land used rights 341 1,536
Investment property 2,619 2,106
462,059 482,894
D The following items are added to segment assets to arrive at total assets reported in the consolidated
statement of financial position:
2018 2017
RM’000 RM’000
Deferred tax assets (Note 21) 14,288 14,681

Investments in associates (Note 20) 1,697 -
Goodwill (Note 23) 1,304,496 22,805
1,320,481 37,486

E The following items are added to segment liabilities to arrive at total liabilities reported in the
consolidated statement of financial position:
2018 2017
RM’000 RM’000
Deferred tax liabilities (Note 21) 94,670 68,257
44. Dividends
Group Company
2018 2017 2018 2017
RM’000 RM’000 RM’000 RM’000
Recognised during the financial year:
Dividends on ordinary shares:
- Final tax exempt single tier dividend of

8.5 sen per share on 1,255,159,000
ordinary shares, and paid on
25 January 2018 106,691 - 106,691 -
- First tax exempt interim single tier dividend
of 7 sen per share on 1,277,926,000
ordinary shares, and paid on 17 July 2018 89,454 - 89,454 -
- Final tax exempt single tier dividend of
8.5 sen per share on 1,252,987,000
ordinary shares, and paid on
23 January 2017 - 106,508 - 106,508
- First tax exempt interim single tier dividend
of 6 sen per share on 1,253,938,000
ordinary shares, and paid on 17 July 2017 - 75,221 - 75,246
196,145 181,729 196,145 181,754
At the forthcoming Annual General Meeting, a single tier final dividend of 5 sen per share on 2,556,316,000
ordinary shares amounting to RM127,817,000 in respect of the financial year ended 31 August 2018 will be
proposed for shareholders’ approval. The financial statements for the current financial year do not reflect
this proposed dividend. Such dividend, if approved by the shareholders, will be accounted for in equity as
an appropriation of retained earnings in the financial year ending 31 August 2019.
Dividends received by the ESGP Trusts amounting to RM186 (2017: RM25,000) for the Group is eliminated
against the dividend expense of the Company upon consolidation of the ESGP Trusts as disclosed in Note
4.9(d).
45. Financial guarantees
A nominal amount of RM1,874,167,000 (2017: RM350,542,000) relating to corporate guarantees has been
provided by the Company to banks for its subsidiaries’ loans and borrowings.
As at reporting date, no values are ascribed on these guarantees and letter of undertaking provided by
the Company to secure banking facilities described above as the directors regard the value of the credit
enhancement provided by these guarantees as minimal and the probability of default, based on historical
track records of the parties receiving the guarantees are remote.

46. Material litigation
The Company and its wholly-owned subsidiary, Top Care Sdn Bhd (“Top Care”) have taken the following
legal proceedings:

(i) Writ action in the Kuala Lumpur High Court, against Low Chin Guan, Wong Chin Toh ACPL Sdn Bhd
(“ACPL”) and Kwek Siew Leng (“Kwek”) (collectively, the “Defendants”) (“Writ Action”).
(ii) Arbitration proceedings at the Singapore International Arbitration Centre, against Adventa Capital Pte.
Ltd. (“Adventa Capital”) (“Singapore Arbitration”)

The Writ Action and the Singapore Arbitration pertain to the Sale and Purchase Agreement entered into by
the Company and Top Care on 12 January 2018 for Top Care’s purchase of all issued shares in Aspion Sdn
Bhd from Adventa Capital for RM1.37 billion (“the SPA”).
The claim is RM640,470,000 as damages suffered by reason of the fraudulent misrepresentations made
by Adventa Capital, Wong and Low to induce the Company and Top Care to enter into the SPA at RM1.37
billion as well as conspiracy by Adventa Capital, Wong, Low and Kwek to defraud the Company and Top
Care. ACPL is named by reason of it having received RM72.3 million out of the RM1.37 billion purchase
price. The Company and Top Care have elected to affirm the SPA and claim for damages.
In the Singapore Arbitration, Adventa Capital is counterclaiming against the Company and Top Care for inter
alia the following:
(i) Losses suffered as a result of the Company’s and Top Care’s breach of the SPA by Adventa Capital a
notice of breach under the SPA; and
(ii) Losses suffered by Adventa Capital as a result of Low’s removal from the Management of Aspion.
In aid of the Writ Action and Singapore Arbitration, the Company and Top Care had applied for:

(i) A Mareva application in the Writ Action against Wong, Low and ACPL to restrain them from disposing
their assets up to RM640,470,000. The hearing for the Mareva was fixed for hearing from 29 to 31
October 2018 and 2 November 2018. In the meantime, an ad interim injunction was allowed by the KL
High Court.
(ii) A Mareva Injunction application was filed against Adventa Capital ACPL to restrain it from disposing its
assets up to RM640,470,000. The hearing for the Mareva was fixed for hearing from 29 to 31 October
2018 and 2 November 2018. In the meantime, an ad interim injunction was allowed by the KL High
Court.
(iii) A Mareva Injunction application in the Singapore High Court was also filed to restrain Adventa
Capital from disposing its assets worldwide (save for Malaysia) up to the value of RM640,470,000.
The Singapore High Court granted the Singapore Mareva Injunction. The hearing for the Mareva will
continue from 29 to 30 November 2018 and 8 March 2019.
On 13 July 2018, Adventa Capital filed an application to set aside the Singapore Mareva Injunction (“Singapore
Set Aside Application”). The Singapore Mareva Injunction and the Singapore Set Aside Application was
part heard on 23 August 2018 by the Singapore High Court and will continue on 29 November 2018, 30
November 2018 and 8 March 2019. Further, the Company and Top Care had on 14 August 2018 filed an
application to file further affidavits in respect of Adventa Capital’s application to set aside the company’s
and Top Care’s Mareva order in the Singapore OS (“the Leave Application”). The Leave Application will also
be heard on 29 November 2018, 30 November 2018 and 8 March 2019.
The Writ Action and the Singapore Arbitration are on-going and our solicitors are of the view that the
Company and Top Care have even chance of success in our claims. In the event that the Company and
Top Care do not succeed in the claims under the Writ Action, Singapore Arbitration and fail to obtain the
Injunctions, the Company and Top Care would be exposed to costs and damages for the Writ Action,
Singapore Arbitration and the Mareva Injunctions that may be awarded to the Defendants.

47. Subsequent events
(i) On 10 October 2018, the Company obtained shareholders’ approval at its Extraordinary General Meeting
(“EGM”) for a bonus issue of 1,280,229,124 new ordinary shares on the basis of 1 bonus share for every 1
existing ordinary share. The bonus issue was completed on 29 October 2018.
(ii) The outstanding corporate proposals which have been approved by shareholders at EGM held on
10 October 2018 are as follows:
a) Proposed issuance of guaranteed exchangeable bonds with an aggregate principal amount of up to

USD300 million; and
b) Proposed amendment to the constitution of Top Glove.
48. Comparative figures

Effective 1 September 2018, the Group adopted the policy to state its investment property at fair value. Previously,
investment property was stated at cost.
The effect of the change in accounting policies is accounted for restrospectively. As a result of adopting this
changes in accounting policies, fair value gains have been made to the opening retained earnings of the Group.
The following comparative figures have been restated arising from the effects of change in accounting polices:
As previously
stated Adjustments As restated
RM’000 RM’000 RM’000
Group
Statement of financial position
As at 1 September 2016
Property, plant and equipment 1,156,767 (27,830) 1,128,937
Investment property 82,184 79,816 162,000
Deferred tax liabilities 50,757 2,128 52,885
Retained earnings 1,167,057 49,858 1,216,915
Property, plant and equipment 1,523,406 (24,920) 1,498,486
Investment property 83,156 78,844 162,000
Deferred tax liabilities 66,284 1,973 68,257
Retained earnings 1,313,876 51,951 1,365,827
Statement of profit or loss
For the financial year ended 31 August 2017

Administrative and general expenses (195,390) 1,938 (193,452)
Income tax expense (54,669) 155 (54,514)
Statement of cash flows
For the financial year ended 31 August 2017

Operating activities
Profit before tax 383,105 1,938 385,043
Net loss from fair value remeasurement - 3,096 3,096
Depreciation:
- Property, plant and equipment 109,648 (3,611) 106,037
- Investment property 1,423 (1,423) -
49. Authorisation of financial statements for issue

The financial statements for the year ended 31 August 2018 were authorised for issue in accordance with a
resolution of the directors on 31 October 2018.

LIST OF PROPERTIES
AUDITED
DATE OF
AGE OF NET BOOK
PARTICULARS OF ACQUISITION(A)/ DESCRIPTION/ LAND AREA/
BUILDING TENURE VALUE AS
PROPERTY REVALUATION(R) EXISTING USE BUILD-UP AREA
(YEARS) AT 31.8.2018
(RM’000)
A) TOP GLOVE SDN BHD
1) No.18, Jalan Mempari 10,

Taman Bayu, Batu 5½, HS (M) 15256, PT 8368, 23/10/1997 (A) 20 Freehold Terrace house/ 1,300 square feet/ 93
Jalan Meru, 41050 Klang, Mukim Kapar, Accommodation 1,100 square feet
Selangor. Daerah Klang, for staff
Selangor.
2) No.36, Jalan Mempari 1, HS (M) 15297, PT 8411, 13/02/1998 (A) 20 Freehold Terrace house/ 1,300 square feet/ 38
Taman Bayu, Batu 5½, Mukim Kapar, Accommodation 1,100 square feet
Jalan Meru, 41050 Klang, Daerah Klang, for staff
Selangor. Selangor.
Taman Bayu, Batu 5½, HS (M) 15238, PT 8445, Accommodation 1,100 square feet
Jalan Meru, 41050 Klang, Mukim Kapar, for staff
Selangor. Daerah Klang,
Selangor.
4) Lot 4968, Jalan Teratai, EMR 6629, Lot 4968, 13/10/1993 (A) 24 Freehold Factory/Glove 3 acres/66,980 5,188
Batu 6, Off Jalan Meru, Mukim Kapar, manufacturing square feet
41050 Klang, Selangor. Daerah Klang,
Selangor.
5) Lot 5136, 6th Miles, GM 3057, Lot 5136, 15/08/2014 (A) N/A Freehold Vacant 1.8843 hectares 12,529
Jalan Sungai Binjai, Mukim Kapar,
Selangor.
6) No.23, Jalan Seri Kenangan 8, HS (M) 10314, PT 15442, 23/05/1996 (A) 22 Freehold Terrace house/ 1,608 square feet/ 70
Taman Meru 3, Meru, Mukim Kapar, Accommodation 1,350 square feet
41050 Klang, Selangor. Daerah Klang, for staff
Selangor.
Taman Bayu, Batu 5½, Mukim Kapar, Accommodation 1,100 square feet
Selangor. Selangor.
8) Lot 5987, Jalan Teratai, EMR 8780, Lot 5987, 11/07/2000 (A) 18 Freehold Factory/Glove 2.8 acres/57,250 5,107
Selangor.
9) Lot 4969, Jalan Teratai, GM 2143, Lot 4969, 11/10/2000 (A) 17 Freehold Factory/Office 3 acres/41,274 7,375
Batu 6, Off Jalan Meru, Mukim Kapar, building square feet
41050 Klang, Selangor Daerah Klang,
Selangor.
10) Lot 18, 27, 38 & 57, Lot 18, 27, 38 & 57, 22/11/1999 (A) 18 Leasehold Factory/Glove 311,192 square 9,665
Medan Tasek, Medan Tasek, Kawasan (Expiring on: manufacturing feet/197,675
Kawasan Perindustrian Tasek, Perindustrian Tasek, Lot 18-30.9.2072 square feet
31400 Ipoh, Perak. 31400 Ipoh, Perak. Lot 27-28.12.2063
Lot 38-23.12.2069
Lot 57-1.10.2064)
11) No.3, 5, 7, 9, 11, 13, 15, 17, Lot 375847 - 375859 02/11/2007 (A) 10 Freehold Terrace house/ 1,400 square feet/ 1,711
19, 21, 23, 25 & 27, Tasek Mutiara, Accommodation 1,625 square feet
Taman Mutiara, Tasek, 31400 Ipoh, Perak. for worker
31400 Ipoh, Perak.
12) No.29, Jalan Abadi 1, GM 13955, Lot 31151, 05/12/2013 (A) 4 Freehold Terrace house/ 139 square meter 129
Taman Daya Meru, Mukim Kapar, Accommodation
Batu 5½, Jalan Meru, Daerah Klang, for staff
41050 Klang, Selangor. Selangor.
13) Lot 12, Medan Tasek, PN 1308, Lot 56530, 04/02/2010 (A) 8 Leasehold Factory/Office 213,889 square 6,413
Kawasan Perindustrian Tasek, Mukim Hulu Kinta, (Expiring on: building feet/ 131,576
31400 Ipoh, Perak. Daerah Kinta, Perak. 05.04.2066) square feet
14) Lot 5094 & 5977, GM 4326, Lot 5094 & 26/01/2018 (A) N/A Freehold Factory/ 1.794 acres 5,485
Mukim Kapar, Daerah Klang, 5977 Mukim Kapar, 4 ½ Water Process
41050 Klang, Selangor. Mile Sungai Binjai Road and Supply
15) Plot 7, Medan Tasek, HS (D) 889/68, Lot 927, 05/07/2011 (A) 7 Leasehold Factory/Glove 80,937 square 2,749
Kawasan Perindustrian Tasek, Mukim Hulu Kinta, (Expiring on: manufacturing feet/ 48,352
31400 Ipoh, Perak. Daerah Kinta, Perak. 02.05.2067) square feet

LIST OF PROPERTIES
AUDITED
DATE OF
AGE OF NET BOOK
(YEARS) AT 31.8.2018
(RM’000)
16) Lot 4960, Jalan Teratai, GM 2326, Lot 4960, 24/09/2003 (A) 14 Freehold Factory/Glove 3 acres/58,240 7,19 4
Selangor.
17) Lot 4970, Jalan Teratai, HS (M) 38148, 20/11/2003 (A) 14 Freehold Factory/Glove 3 acres/67,924 5,824
Batu 6, Off Jalan Meru, PT Nos. 63271, manufacturing square feet
41050 Klang, Selangor. Mukim Kapar,
Daerah Klang,
Selangor.
18) Lot 4967, Jalan Teratai, GM 5584, Lot 4967, 19/03/2004 (A) 14 Freehold Factory/Glove 3 acres/58,240 6,762
41050 Klang, Selangor Daerah Klang,
Selangor.
Taman Bayu, Batu 5½, HS (M) 15242, PT 8353, Accommodation 1,100 square feet
Jalan Meru, 41050 Klang, Mukim Kapar, for staff
Selangor.
20) No.37, Jalan Mempari 1, HS (M) 18522, PT 12/05/2005 (A) 13 Freehold Terrace house/ 1,300 square feet/ 110
Taman Bayu, Batu 5½, 24689, Mukim Kapar, Accommodation 1,100 square feet
Selangor. Selangor.
21) No.26, Jalan Abadi 10A/KU8, HS (M) 26112, PT 21/03/2005 (A) 13 Freehold Terrace house/ 1,300 square feet/ 117
Taman Daya Maju, 39636, Mukim Kapar, Accommodation 1,100 square feet
Selangor.
22) No.21, Jalan Sesenduk 20, GM 7798, Lot 37307, 13/05/2005 (A) 13 Freehold Terrace house/ 1,300 square feet/ 117
Off Taman Meru Jaya, Mukim Kapar, Accommodation 1,100 square feet
Selangor.
Off Taman Meru Jaya, Mukim Kapar, Accommodation 1,100 square feet
Selangor.
24) No.27, Lorong Tempinis 1, HS (M) 3773, PT 1286 & 25/05/2005 (A) 13 Freehold Terrace house/ 1,300 square feet/ 95
Pekan Meru, HS (M) 3685, PT 1285, Accommodation 1,100 square feet
42200 Klang, Selangor. Mukim Kapar, for staff
Daerah Klang,
Selangor.
Taman Meru Utama, Mukim Kapar, Accommodation 1,100 square feet
Selangor.
Selangor.
Selangor.
Selangor.
29) Lot 4947, Jalan Teratai, GM 5101, Lot 4947, 23/11/2004 (A) 13 Freehold Factory/Glove 3 acres/58,240 9,815
Batu 5½, Off Jalan Meru, Mukim Kapar, manufacturing square feet
Selangor.

LIST OF PROPERTIES
AUDITED
DATE OF
AGE OF NET BOOK
(YEARS) AT 31.8.2018
(RM’000)
30) No.1, 3, 5 & 7, HS (M) 10598 - 10601, 29/04/2006 (A) 12 Freehold Terrace house/ 70,995 square feet 5,501
Jalan Abadi 1A/KU8, PT 49525 - 49528, Accommodation
for staff
No.1 - 8, HS (M) 10605 - 28476,
Jalan Abadi 1B/KU8, PT 40356 - 40363,
No.1, 3, 5 & 7, HS (M) 28477 - 28480

Jalan Abadi 1C/KU8, & 28484, PT 40367 -
40370 & 40374,
No.60, 62, 64, 66, 67, 69, 71, HS (M) 28481 - 28483
73, 75 & 77, & 28486 - 28491, PT
Jalan Abadi 4/KU8, 40371 - 40373 &
40376 - 40381,
No.49, 51, 53, 55, 57, 59, 62, HS (M) 28492 - 28497
64, 66, 68, 70 & 72, & 28499 - 28504, PT
Jalan Abadi 5/KU8, 40382 - 40387 &
40389 - 40394,
No.46, 48, 50, 52, 54 & 56, HS (M) 28505 - 28510,

Jalan Abadi 6/KU8, PT 40395 - 40400,
Taman Daya Maju, Mukim Kapar,
Selangor.
31) No.41, Jalan Abadi 3, HS (M) 18218, PT 24467, 02/12/2005 (A) 12 Freehold Terrace house/ 1,098 square feet 90
Taman Daya Meru, Mukim Kapar, Accommodation
Selangor.
32) No.25, Jalan Sesenduk 20, GM 7799, Lot 37308, 31/07/2010 (A) 8 Freehold Terrace house/ 121 square meter 135
Taman Meru Jaya, Mukim Kapar, Accommodation
Selangor.
33) No.7, Lorong Abadi 2, GM 16575, Lot 31111, 04/12/2009 (A) 8 Freehold Terrace house/ 111 square meter 101
Batu 5½, Off Jalan Meru, Batu 6, Jalan Sungai Accommodation
Taman Daya Meru, Binjai, Mukim Kapar, for staff
Selangor.
Taman Meru Jaya, Batu 6½, Jalan Sungai Accommodation
41050 Klang, Selangor. Binjai, Mukim Kapar, for staff
Daerah Klang,
Selangor.
35) No.31, Jalan Mempari 12, GM 14268, Lot 38295 & 11/03/2010 (A) 8 Freehold Terrace house/ 121 square meter 97
Taman Bayu, Batu 5, HS (M) 15348, PT 8466, Accommodation
Jalan Meru, 41050 Klang, Batu 6, Jalan Sungai for staff
Selangor. Binjai, Mukim Kapar,
Daerah Klang,
Selangor.
36) No.8, 10, 12, 14, 16, 18, 20, GM 7790, 7789, 7788, 05/02/2010 (A) 8 Freehold Terrace house/ 190 square meter/ 3,098
22, 24, 26, 28, 30, 32, 34, 36, 7787, 7786, 7785, 7784, Accommodation unit
40, 42, 44 & 46, 7783, 7782, 7781, 7780, for staff
Jalan Sesenduk 21, 7779, 7778, 7777, 7776,
Taman Meru Jaya, 7774, 7773, 7772, 7771,
41050 Klang, Selangor. Lot 37299, 37298,
37297, 37296, 37295,
37294, 37293, 37292,
37291, 37290, 37289,
37288, 37287, 37286,
37285, 37283, 37282,
37281, 37280, Mukim
Kapar,
Daerah Klang,
Selangor.
Taman Meru Utama, Mukim Kapar, Accommodation
Selangor.
Off Jalan Meru, Daerah Klang, for staff

LIST OF PROPERTIES
AUDITED
DATE OF
AGE OF NET BOOK
(YEARS) AT 31.8.2018
(RM’000)
39) No.1, Jalan Sesenduk 3C, GM 15282, Lot 45058, 27/05/2010 (A) 8 Freehold Terrace house/ 261 square meter 230
Taman Meru Utama 5, Mukim Kapar, Accommodation
41050 Klang, Selangor. Tempat Batu 5½, for staff
Jalan Sungai Binjai,
Daerah Klang,
Selangor.
40) No.69, Jalan Sesenduk 6, GM 7312, 7300, 7331, 25/01/2010 (A) 8 Freehold Terrace house/ 133 square meter 287
No.57, Jalan Sesenduk 7, Lot 43354, 43342, Accommodation 193 square meter
& No.59, Jalan Sesenduk 5, 43376, for staff 133 square meter
Taman Meru Utama, Mukim Kapar,
41050 Klang, Selangor. Tempat Batu 5,
Daerah Klang,
Selangor.
41) No.9, 11, 17 & 21, GM 15247, 15246, 21/04/2010 (A) 8 Freehold Terrace house/ No.9 - 21: 126
Jalan Sesenduk 3, 15244, 15242, 15265, Accommodation 110 square
No.3, Jalan Sesenduk 3C, Lot 45023, 45022, for staff meter/unit
Taman Meru Utama 55, 45020, 45018, 45041, No.3:
41050 Klang, Selangor. Mukim Kapar, 127 square
Tempat Batu 5, meter/unit
Daerah Klang,
Selangor.
42) Lot 4908, Jalan Teratai, EMR 6605, Lot 4908, 08/07/1997 (A) 21 Freehold Terrace house/ 3 acres/54,140 1,867
Batu 5½, Off Jalan Meru, Mukim Kapar, Accommodation square feet
Selangor.
43) Lot 4988, 5½ Miles, GM 1584, Lot 4988, 10/10/2005 (A) 12 Freehold Factory/Glove 3 acres/12,141 9,024
Sungai Binjai Road, Mukim Kapar, manufacturing square meter
Selangor.
44) Lot 4989, GM 703, Lot 4989, 10/10/2005 (A) 12 Freehold Factory/Glove 3 acres/12,267 8,636
Mukim Kapar, Mukim Kapar, manufacturing square meter
Selangor.
45) Lot 4986, Batu 5, GM 1102, Lot 4986, 24/02/2006 (A) 12 Freehold Factory/Glove 3 acres/12,141 8,083
Jalan Sungai Binjai, Mukim Kapar, manufacturing square meter
Mukim Kapar, Daerah Klang,
46) Lot 4987, 5th Miles, GM 2619, Lot 4987, 24/05/2006 (A) 12 Freehold Factory/Glove 3 acres/12,141 8,870
Sungai Binjai Road, Mukim Kapar, manufacturing square meter
47) Lot 4990, Jalan Bunga Raya, GM 5116, Lot 4990, 05/03/2007 (A) 11 Freehold Factory/Glove 3 acres/12,267 8,777
Batu 5½, Off Jalan Meru, Mukim Kapar, manufacturing square meter
Selangor.
48) Lot 4946, Jalan Teratai, GM 2574, Lot 4946, 14/01/2008 (A) N/A Freehold Vacant 3 acres 2,718
Batu 5½, Off Jalan Meru, Mukim Kapar,
Selangor.
49) Lot 4949, Jalan Teratai, GM 1728, Lot 4949, 18/01/2008 (A) N/A Freehold Vacant 3 acres 3,072
Batu 5½, Off Jalan Meru, Mukim Kapar,
Selangor.
50) Lot 4962, 5th Miles, GM 5100, Lot 4962, 05/09/2008 (A) N/A Freehold Vacant 3 acres 3,535
Sungai Binjai Road, Mukim Kapar,
51) Lot 5094, Tempat Batu 4½, GM 4326, Lot 5094, 03/10/2008 (A) N/A Freehold Vacant 3 acres 2,532
Jalan Sungai Binjai, Mukim Kapar, 5 pole
Selangor.
52) Lot 5977 & 5975, GM 4436 & 4437, 03/10/2008 (A) N/A Freehold Vacant 1.794 & 0.068 1,531
Tempat Batu 4½, Lot 5977 & 5975, acres
Selangor.

LIST OF PROPERTIES
AUDITED
DATE OF
AGE OF NET BOOK
(YEARS) AT 31.8.2018
(RM’000)
53) Lot 4941, GM 2082, Lot 4941, 01/06/2009 (A) N/A Freehold Vacant 3 acres 1,698
Tempat Batu 6, Mukim Kapar,
Jalan Sungai Binjai, Daerah Klang,
Tempat Batu 6, Mukim Kapar, 2 rood
Jalan Sungai Binjai, Daerah Klang, 25 pole
Tempat Batu 6, Mukim Kapar, 3 rood
56) Lot 4985, GM 2321, Lot 4985, 18/06/2010 (A) 1 Freehold Factory/Glove 3 acres 4,233
Tempat Batu 5, Mukim Kapar, manufacturing
57) Lot 4956, GM 2580, Lot 4956, 19/11/2010 (A) 1 Freehold Terrace house/ 1.2141 hectares 17,239
Tempat Batu 6, Mukim Kapar, Accommodation
Jalan Sungai Binjai, Daerah Klang, for worker
58) Lot 5013, GM 153, Lot 5013, 15/07/2011 (A) N/A Freehold Vacant 1.2141 hectares 5
59) Lot 5991, GM 5591, Lot 5991, 30/09/2010 (A) N/A Freehold Vacant 1.1331 hectares 3,288
Tempat Batu 4½, Mukim Kapar,
60) HS (D) 129441, PT 62956, HS (D) 129441, 28/02/2011 (A) N/A Freehold Vacant 131,730 14,288
Jalan Bukit Kapar, PT 62956, square meter
Daerah Klang,
Selangor.
Selangor.
Selangor.
63) No.15, Jalan Abadi 10B/KU8, GM 8996, Lot 48112, 30/10/2010 (A) 7 Freehold Terrace house/ 109 square meter 128
Taman Daya Maju, Mukim Kapar, Accommodation
Selangor.
Selangor.
65) Lot 5105, 4½ Miles, GM 5076, Lot 5105, 19/11/2013 (A) N/A Freehold Vacant 4.344 acres/ 13,840
Jalan Sungai Binjai, Mukim Kapar, 1.7579 hectares
Selangor.
66) No.25, Jalan Mempari 9, GM 13014, Lot 307, 15/12/2010 (A) 7 Freehold Terrace house/ 109 square meter 124
Taman Bayu, Seksyen 1, 6th Miles, Accommodation
41050 Klang, Selangor. Sungai Binjai Road, for staff
Pekan Meru,
Daerah Klang,
Selangor.
Selangor.
Taman Bayu, Seksyen 1, Mukim Kapar, Accommodation
Selangor.

LIST OF PROPERTIES
AUDITED
DATE OF
AGE OF NET BOOK
(YEARS) AT 31.8.2018
(RM’000)
69) No.30, Jalan Abadi 5, Lot 31191, 12/05/2011 (A) 7 Freehold Terrace house/ 82 square meter 104
Selangor.
Batu 5½, Jalan Meru, Seksyen 1, Pekan Meru, Accommodation
Selangor.
Taman Bayu, Batu 5½, Seksyen 1, Pekan Meru, Accommodation
Jalan Meru, Daerah Klang, for staff
Taman Bayu, Batu 5½, Seksyen 1, Pekan Meru, Accommodation
73) Lot 5002, Batu 5½, GM 10245, Lot 5002, 29/09/2015 (A) 2 Freehold Factory 10,891 11,223
Jalan Meru, (Lot 23552), square meter
Daerah Klang,
Selangor.
Off Jalan Meru, Mukim Kapar, Accommodation
Selangor.
75) No.21, Jalan Abadi 5, GM 16595, Lot 31142, 21/03/2012 (A) 6 Freehold Terrace house/ 121 square meter 84
Taman Saujana Meru, Mukim Kapar, Accommodation
Selangor.
76) No.25, Jalan Abadi, GM 9497, Lot 48131, 22/06/2012 (A) 6 Freehold Terrace house/ 145 square meter 162
10D/KU8, Mukim Kapar, Accommodation
Taman Daya Maju, Daerah Klang, for staff
77) No.47, Jalan Abadi 1A/KU8, GM 17487, Lot 59975, 19/07/2012 (A) 6 Freehold Terrace house/ 130 square meter 146
Selangor.
Batu 6½, Off Jalan Meru, Daerah Klang, for staff
Selangor.
Selangor.
Selangor.
Selangor.
Selangor.
Selangor.

LIST OF PROPERTIES
AUDITED
DATE OF
AGE OF NET BOOK
(YEARS) AT 31.8.2018
(RM’000)
Selangor.
Selangor.
Selangor.
Selangor.
Selangor.
Selangor.
Batu 6½, Daerah Klang, for staff
92) 8-2, 8-3, 8-4, 8-5, GM 290749, Lot 59640, 01/02/2012 (A) 6 Freehold Building 920.77 3,117
Setia Avenue, Mukim Bukit Raja, square meter
Jalan Setia Prima (S), Daerah Petaling,
U13/5, Setia Alam, Selangor.
Seksyen U13,
40170, Shah Alam, Selangor.
93) No.6, Lorong Abadi 3, HS (M) 20392, PT 30/10/2012 (A) 5 Freehold Terrace house/ 111.483 112
Pekan Meru, 25898, Accommodation square meter
Taman Saujana Meru, Mukim Kapar, for staff
Selangor.
94) No.24, Lorong Hamzah Alang HS (D) 35605, PT 28/09/2012 (A) 5 Freehold Terrace house/ 120.75 104
77B, Off Jalan Kapar Batu 9½, 19713. Accommodation square meter
Taman Jaya, 42200 Kapar, for staff
Selangor.
95) No.40, Jalan Mempari 10, HS (M) 15228, PT 8339, 12/10/2012 (A) 5 Freehold Terrace house/ 121 square meter 112
Taman Bayu, Batu 5½, Mukim Kapar, Accommodation
96) No.28, Jalan Mempari 12, HS (M) 15355, PT 8473, 04/02/2013 (A) 5 Freehold Terrace house/ 105 square meter 94
5th Miles, Jalan Meru, Mukim Kapar, Accommodation
Selangor.
Selangor.
Selangor.
99) Lot 4983, 5th Miles, GM 593, Lot 4983, 01/01/2013 (A) 1 Freehold Factory/Glove 1.2141 hectares 24,507
Jalan Sungai Binjai, Mukim Kapar, manufacturing
Selangor.
100) Lot 4984, 5th Miles, GM 2445, Lot 4984, 01/01/2013 (A) 1 Freehold Factory/Glove 1.2141 hectares 24,716
Selangor.

LIST OF PROPERTIES
AUDITED
DATE OF
AGE OF NET BOOK
(YEARS) AT 31.8.2018
(RM’000)
101) Lot 4991, Jalan Bunga Raya, HS (M) 39325, PT 64593, 19/10/2004 (A) 13 Freehold Factory/Glove 4.3 acres 3,242
Batu 5½, Off Jalan Meru, Mukim Kapar, manufacturing
41050 Klang, Selangor. Daerah Klang, Selangor.
102) Unit C-34-07, Phase 2D02, GRN 308223, 05/01/2016 (A) 2 Freehold Strata office 45.1 square meter 268
Trefoil, Level 34, Tower C, Lot 61049,
Seksyen U13, Daerah Petaling,
Jalan Setia Dagang, Selangor.
AH U13/AH, Setia Alam,
40170 Shah Alam, Selangor.
103) Unit C-34-08, Phase 2D02, GRN 308223, 16/12/2015 (A) 2 Freehold Strata office 45.1 square meter 268
Trefoil, Level 34, Tower C, Lot 61049,
Jalan Setia Dagang, Selangor.
AH U13/AH, Setia Alam,
104) Lot 5090, Batu 5½, GM 2361, Lot 5090, 01/12/2016 (A) 1 Freehold Factory/Glove 12,104.55 12,962
Jalan Meru, Mukim Kapar, manufacturing square meter
105) Lot 4961, Tempat Batu 5, GM 525, Lot 4961, 17/09/2008 (A) 9 Freehold Factory/Glove 3 acres 3,663
Jalan Binjai, Mukim Kapar, manufacturing
B) TG MEDICAL SDN BHD
1) Lot 5091, Jalan Teratai, Batu GM 3989, Lot 5091, 25/10/1995 (A) 22 Freehold Factory/Glove 3 acres/ 6,328
5, Off Jalan Meru, 41050 4½ Miles, manufacturing 68,490 square feet
Klang, Selangor. Sungai Binjai Road,
Mukim Kapar,
Daerah Klang,
Selangor.
Batu 5½, Jalan Meru, HS (M) 15325, PT 8442, Accommodation 1,100 square feet
41050 Klang, Selangor. Batu 6, Jalan Sungai for staff
Binjai, Mukim Kapar,
Daerah Klang,
Selangor.
3) Lot 5972 & 5974, GM 4098 & 4099, 01/07/1999 (A) 19 Freehold Factory/Glove Approx 3,205
Jalan Teratai, Batu 5, Lot 5972 & 5974, manufacturing 1.7935 acres/
Jalan Meru, 4½ Miles, 47,200 square feet
41050 Klang, Selangor. Sungei Benjai Road,
Mukim Kapar,
Daerah Klang,
Selangor.
4) Lot 5104, Jalan Teratai, GM 5064, Lot 5104, 29/03/2004 (A) 14 Freehold Factory/Glove 3 acres/ 6,632
Batu 5, Off Jalan Meru, 12½ Miles, manufacturing 54,600 square feet
41050 Klang, Selangor. Sungei Berinai Road,
Mukim Kapar,
Daerah Klang,
Selangor.
5) No.1, 3, 5, 7, 9 & 11, HS (M) 33205 - 12/07/2007 (A) 11 Freehold Terrace house/ Approx 108.85 6,173
Jalan Abadi 10D/KU8, HS (M) 33252, Accommodation square meter/unit
Taman Daya Maju, Meru, PT 50423 - PT 50470, for staff and
41050 Klang, Selangor. Mukim Kapar, worker
Daerah Klang,
No.1, 2, 3, 4, 5, 6, 7, 8, 9, 10, Selangor.
11 & 12,
Jalan Abadi 10C/KU8,
Taman Daya Maju, Meru,
41050 Klang, Selangor.
No.1, 2, 3, 4, 5, 6, 7, 8, 9, 10,
11 & 12,
Jalan Abadi 10A/KU8,
No.1, 2, 3, 4, 5, 6, 7, 8, 9, 10,
11 & 12,
Jalan Abadi 10B/KU8,
No.85, 87, 89, 91, 93 & 95,

Jalan Abadi 1/KU8,

LIST OF PROPERTIES
AUDITED
DATE OF
AGE OF NET BOOK
(YEARS) AT 31.8.2018
(RM’000)
6) Lot 5975, GM 4437, Lot 5975, 03/10/2008 (A) N/A Freehold Vacant 0.0275 hectares 201
Tempat Batu 4½, Mukim Kapar,
7) Lot 6472, GRN 52371, Lot 6472, 01/03/2017 (A) N/A Freehold Land 34,499 13
Lorong Sungai Puloh/KU6, Mukim Kapar, square meter
Kawasan Perindustrian Daerah of Klang,
Sungai Puloh, Selangor.
8) Lot 5105, 4½ Miles, GM 5076, Lot 5105, 19/11/2013 (A) N/A Freehold Vacant 4.344 acres/ 128
Jalan Sungai Binjai, Mukim Kapar, 1.7579 hectares
Selangor.
C) TOP GLOVE ENGINEERING SDN BHD
1) GRN 285705, Lot 213, GRN 285705, Lot 213, 18/04/1996 (A) N/A Freehold Land 3.39 acres/13,716 1,738
Seksyen 2, Seksyen 2, square meter
Pekan Bukit Changgang, Pekan Bukit Changgang,
Daerah Kuala Langat, Daerah Kuala Langat,
Selangor. Selangor.
Selangor. Selangor.
Selangor. Selangor.
4) GRN 285708, Lot 216, GRN 285708, Lot 216, 12/06/2012 (A) N/A Freehold Land 19.83 acres 8,304
Seksyen 2, Seksyen 2,
Selangor. Selangor.
Selangor. Selangor.
Selangor. Selangor.
7) No.13, Jalan Setia Wawasan, HS (D) 291299, 05/01/2017 (A) 1 Freehold Bungalow/ 397 square meter 1,756
U13/35D, Bandar Setia Alam, PT 32070, Accommodation
40170 Shah Alam, Selangor. Mukim Bukit Raja, for staff
Daerah Petaling,
Selangor.
8) No.11, Jalan Setia Wawasan, HS (D) 291298, 05/01/2017 (A) 1 Freehold Bungalow/ 397 square meter 1,764
U13/35D, Bandar Setia Alam, PT 32069, Accommodation
40170 Shah Alam, Selangor. Mukim Bukit Raja, for staff
Daerah Petaling,
Selangor.

LIST OF PROPERTIES
AUDITED
DATE OF
AGE OF NET BOOK
(YEARS) AT 31.8.2018
(RM’000)
D) TOP GLOVE MEDICAL (THAILAND) CO., LTD.
1) 188, Moo 5, 60199, 60200, 60201 28/02/2003 (A) 15 Freehold Land 15.8 acers 2,700
Karnchanawanich Road, & 60202, (Thai Baht
Tambon Samnakkham, Tambon Samnakkham, 21,507
Sadao, Songkhla 90320, Sadao, Songkhla
Thailand. 90320, Thailand. 28/02/2003 (A) 15 Freehold Factory/Office 9,504 square meter 6,244
building (Thai Baht
49,737)
28/02/2003 (A) 15 Freehold Accommodation 1,200 square meter 1,425

for worker (Thai Baht
11,355)
01/12/2011 (A) 6 Freehold Factory building 5,134.5 3,201

square meter (Thai Baht
25,499)
01/12/2011 (A) 6 Freehold Accommodation 882 square meter 1,274

for worker (Thai Baht
10,147)
2) Title Deed No.39553 Title Deed No. 39553 03/03/2005 (A) N/A Freehold Pond Approx 2.8 acres 716
Moo.5 Pruteaw Moo.5 Pruteaw (Thai Baht
Karnchanawanich Road, Karnchanawanich Road, 5,702)
Tambon Samnakkham, Tambon Samnakkham,
Ampur Sadao, Ampur Sadao,
Songkhla 90320, Songkhla 90320
Thailand. Thailand.
3) Nor. Sor. 3 Kor No.637 & 638, Nor. Sor. 3 Kor No. 637 16/11/2010 (A) N/A Freehold Land Approx 32 acres 6,174
Tambon Samnakkham, & 638, (Thai Baht
Ampur Sadao, Tambon Samnakkham, 49,178)
Songkhla 90320, Thailand. Ampur Sadao,
Songkhla 90320,
Thailand.
4) Title Deed No.38237 & 38236, Title Deed No. 38237 01/12/2016 (A) N/A Freehold Land Approx 21 acres 6,566
Tambon Samnakkham, & 38236, (Thai Baht
Ampur Sadao, Tambon Samnakkham, 52,305)
Songkhla 90320,
Thailand.
E) TG MEDICAL (U.S.A.), INC.
1) 165 - 167 North Aspan, Assessor’s ID #8615 31/03/2005 (A) 13 Freehold Warehouse/ 25,878 square feet 8,562
Avenue, Azusa, 018 010 Office building (USD 2,085)
CA 91702, USA.
2) 153 - 155 North Aspan, Assessor’s ID #8615 31/07/2013 (A) 5 Freehold Warehouse/ 25,950 square feet 12,022
Avenue, Azusa, 018 011 Office building (USD 2,927)
CA 91702, USA.
F) TOP GLOVE TECHNOLOGY (THAILAND) CO., LTD.
1) 188, Moo 5, Channod No.52538, 23/02/2006 (A) 12 Freehold Factory/Office Approx 40.4 17,131
Tambol Pangla, 52539 & 52540, building acres/47,816.68 (Thai Baht
Ampur Sadao, Tambol Pangla, square meter 136,462)
Songkhla, Thailand.
G) GREAT GLOVE (XING HUA) CO., LTD.
1) South Wei Wu Lu, South Wei Wu Lu, 13/10/2005 (A) 12 Leasehold Factory/ 112,234.48 14,498
Xinghua Economic Zhao Yang Zheng, (Expiring on: Office building, square meter/ (RMB
Development Region, Xinghua City, China. 04.09.2056) Industrial usage 30,646.96 square 24,112)
Xinghua City, meter
Jiangsu Province, China.
2) No.20, Tian Shui Yuan South Wei Wu Lu, 31/07/2007 (A) 11 Leasehold Accommodation 153.1 square meter/ 446
Tian Shui Hua Ting, Zhao Yang Zheng, (Expiring on: for staff 342.23 square (RMB 742)
Xinghua Economic Xinghua City, China. 15.01.2074) meter
Development Region,
Xinghua City,
Jiangsu Province, China.

LIST OF PROPERTIES
AUDITED
DATE OF
AGE OF NET BOOK
(YEARS) AT 31.8.2018
(RM’000)
H) B TECH INDUSTRY CO., LTD.
1) 268 M.5 T.Kampangphet 1. Nor Sor 3 Kor No. 2361 01/08/2006(A) 12 Freehold Factory/Office Approx 44,718 6,408
A.Rattaphum, Songkhla 2. Nor Sor 4 Jor No. 5943 building square meter/ (Thai Baht
90180, Thailand. 3. N or Sor 4 Jor No. 5944 8,754 square meter 51,046)
4. Nor Sor 4 Jor No. 5947 21/08/2009 (A) 9 Freehold Waste water Approx 18.64 acres
5. Nor Sor 4 Jor No. 5948 pond
6. N or Sor 4 Jor No. 5949
7. N
or Sor 4 Jor No. 5950
8. Nor Sor 4 Jor No. 5951
I) FLEXITECH SDN BHD
1) Lot 127, Jalan 6, HS (M) 5735, PT 4065, 15/09/2005 (A) 12 Leasehold Accommodation Approx 11,735.87 3,913
Komplek Olak Lempit, Komplek Perabot (Expiring on: for worker square meter/
Mukim Tanjung 12, Olak Lempit, Mukim 26.09.2087) 6,826 square meter
42700 Banting, Selangor. Tanjung Dua Belas,
Daerah Kuala Langat,
Selangor.
2) Lot 128, Jalan 8, HS (M) 5719, PT 4049, 02/08/2005 (A) 13 Leasehold Production/ Approx 11,735.87 11,106
Komplek Olak Lempit, Komplek Perabot (Expiring on: Warehouse square meter/
Selangor.
3) Lot 124, Jalan 8, HS (M) 5721, PT 4051, 08/01/2009 (A) 9 Leasehold Production/Office Approx 12,140.56 7,383
Komplek Olak Lempit, Komplek Perabot (Expiring on: building square meter/
Selangor.
4) Lot 126, Jalan 8, HS (M) 5720, PT 4050, 08/01/2009 (A) 9 Leasehold Production/Office Approx 12,140.56 5,134
Komplek Olak Lempit, Komplek Perabot (Expiring on: building square meter/
Selangor.
5) No.11, Jalan Emas 28, GRN 108819, Lot 630, 29/04/2013(A) 5 Freehold Accommodation Approx 130 206
Bandar Sungai Emas, Seksyen 5, Pekan for staff square meter
42700 Banting, Selangor. Sungai Manggis,
Mukim Tanjong Dua
Belas, Daerah Kuala
Langat, Selangor.
6) No.7, Jalan Emas 28, GRN 108817, Lot 628, 19/06/2013(A) 5 Freehold Accommodation Approx 130 217
Bandar Sungai Emas, Seksyen 5, Pekan for staff square meter
42700 Banting, Selangor. Sungai Manggis,
Mukim Tanjong Dua
Belas, Daerah Kuala
Langat, Selangor.
J) TOP QUALITY GLOVE SDN BHD
1) Lot 2604, GRN 47717, Lot 2604, 25/01/2013 (A) N/A Freehold Land Approx 1.9526 2,040
Mukim Tanjong Dua Belas, Mukim Tanjong hectares/4 acres
Daerah Kuala Langat, Dua Belas, 3 rood 12.0 pole
Selangor. Daerah Kuala Langat,
Selangor.
Selangor.
Selangor.
Selangor.

LIST OF PROPERTIES
AUDITED
DATE OF
AGE OF NET BOOK
(YEARS) AT 31.8.2018
(RM’000)
Jalan Binjai, Mukim Kapar, manufacturing
Selangor.
6) Lot 5135, Jalan Dahlia, GM 5061, Lot 5135, 10/07/2014 (A) N/A Freehold Vacant Approx 4.656 acres/ 13,462
Off Jalan Meru, Mukim Kapar, 202,827 square feet
Selangor.
7) Lot 5144 & 5145, 6th Miles, GM 2306 & 5605, 28/12/2016 (A) N/A Freehold Vacant Approx Lot 5144: 33,556
Sungei Binjai Road, Lot 5144 & 5145, 202,824.364
41050 Klang, Selangor. Mukim Kapar, square feet
Daerah Klang, Lot 5145:
Selangor. 201,468.0994
square feet
8) Lot 4977 & 4978, HS (M) 40486, 01/12/2016 (A) 1 Freehold Land 5.45 acres/ 18,526
Jalan Dahlia, Off Jalan Meru, PT 67437, 2.21 hectares
41050 Klang, Selangor. Lot 4977 & 4978,
Mukim Kapar, 01/12/2016 (A) 1 Freehold Factory/Building Double storey 7,105
Daerah Klang, office building
Selangor. 8,874 square
feet with 2 single
storey warehouse
83,087 square feet
9) Lot 4962, Jalan Teratai, GM 5100, Lot 4962, 26/03/2016 (A) N/A Freehold Vacant 3 acres 98
Batu 6, Off Jalan Meru, Mukim Kapar,
Selangor.
10) Lot 4941, GM 2082, Lot 4941, 20/05/2016 (A) N/A Freehold Vacant 3 acres 6
11) Lot 6472, GM 52371, Lot 6472, 10/07/2018 (A) N/A Freehold Land Approx. 34499 17,856
Lorong Sg Puloh / KU6, Mukim Kapar, square meters
Kawasan Perindustrian Sungai Daerah Klang,
Puloh, 42100 Klang
K) GMP MEDICARE SDN BHD
1) Lot 4991, Jalan Bunga Raya, HS (M) 39325, 01/08/2013 (A) 5 Freehold Factory/Glove 75,669 square feet 13,521
Batu 5½, Off Jalan Meru, PT64593, manufacturing
Daerah Klang,
Selangor.
2) Lot 2431, Lot 11558, 06/12/2012 (A) Phase 1 - Freehold Factory/Glove 16.7 acres/22,000 26,344
Mukim Port Dickson, (Baki Lot 2431, 19 years manufacturing square meter
Sendayan, 71100 Siliau, PA 50813)
Port Dickson, Mukim Port Dickson, Phase 2 -
Negeri Sembilan. Daerah Port Dickson, 13 years
Negeri Sembilan.
Selangor.
4) Lot 3726, GRN 164813, 14/08/2017 (A) N/A Freehold Land Approx 19,752
Kawasan Perindustrian Nilai, Lot 8196, Mukim Setul, 4.326 acres
Mukim Setul, Daerah Seremban, Daerah Seremban,
71800 Nilai, Negeri Sembilan. Negeri Sembilan.
5) Lot 3726, Lot 3726, Kawasan 14/08/2017 (A) 1 Freehold Factory/Glove Approx 6,547
Kawasan Perindustrian Nilai, Perindustrian Nilai, manufacturing 14,256 square
Mukim Setul, Daerah Seremban, Mukim Setul Daerah meter/153,450
71800 Nilai, Negeri Sembilan. Seremban, 71800 Nilai, square meter
Negeri Sembilan.
6) Lot 6021, Kawasan PN 9632, Lot 8728, 14/08/2017 (A) N/A Leasehold Land 7,752 1,742
Perindustrian Bukit Bakri, Mukim Jalan Bakri, (Expiring on: square meter
84200 Muar, Johor. Muar, Johor. 29.12.2094)
7) Lot 6021, Kawasan PN 9632, Lot 8728, 14/08/2017 (A) 1 Leasehold Factory/Glove Approx 4,218
Perindustrian Bukit Bakri, Mukim Jalan Bakri, (Expiring on: manufacturing 7,808.82 square
84200 Muar, Johor. Muar, Johor. 29.12.2094) meter/83,860
square feet

LIST OF PROPERTIES
AUDITED
DATE OF
AGE OF NET BOOK
(YEARS) AT 31.8.2018
(RM’000)
L) TOP GLOVE PROPERTIES SDN BHD
1) No.16, Persiaran Setia Dagang, HS (D) 277347, PT 29363, 21/09/2011 (A) 6 Freehold Office Tower 2 acres 163,900
Bandar Setia Alam, Mukim Bukit Raja,
40170 Shah Alam, Selangor. Selangor.
2) No.18, Persiaran Setia Dagang, HS (D) 293019, PT 32307, 07/05/2015 (A) N/A Freehold Vacant 6,070.30 20,830
Bandar Setia Alam, Seksyen Mukim Bukit Raja, square meter
U13, 40170 Shah Alam, Daerah Petaling,
Selangor. Selangor.
M) PT AGRO PRATAMA SEJAHTERA
1) The City Tower, 12th Floor 1N, Bangka Belitung 01/10/2012 (A) 5 Leasehold Industrial Forest 30,773 hectares 21,474
JL MH Thamrin No.81, Province (Expiring on: Plantation
Jakarta Pusat 10310, 18.03.2071) Including Planting
Indonesia. and Tapping of
Rubber Trees
N) TG PORCELAIN SDN BHD
1) Lot 4946, Jalan Teratai, GM 2574, Lot 4946, 01/05/2018 (A) N/A Freehold Factory/Former 4,878.63 6,407
Batu 5½, Off Jalan Meru, Mukim Kapar, Manufacturing square feet
Selangor.
0) ASPION GROUP
1) Lot E4(3) [PT 4093], Lot No 5052, 05/04/2018 (A) 15 Leasehold Land 2.184 hectares 2,494
No. 2, Jalan 8, Mukim Panchor, (Expiring on:
Kawasan Perindustrian Daerah Kota Bharu, 15.02.2063)
Pengkalan Chepa II, Kelantan. 05/04/2018 (A) 13 Factory/Office 9,496.09 4,791
16100 Kota Bharu, Kelantan. square meter
2) PLO 9 & 18, PTD 84462, 05/04/2018 (A) 10 Leasehold Land 2.2781 hectares 2,368
Jalan Mahsuri 1, 7.5km, Mukim Kluang, (Expiring on:
Jalan Mersing, Daerah Kluang, 28.08.2053)
Kawasan Perindustrian Kluang, Johor. 05/04/2018 (A) 7 Factory Building 12,225.98 18,754
86007 Kluang, Johor. square meter
3) Lot E4(4) [PT 4094], Jalan 8, Lot No 5053, 05/04/2018 (A) 15 Leasehold Land 2.341 hectares 2,532
Kawasan Perindustrian Mukim Panchor, (Expiring on:
Pengkalan Chepa II, Daerah Kota Bharu, 15.02.2063)
16100 Kota Bharu, Kelantan. Kelantan. 05/04/2018 (A) 10 Factory Building 14,604.21 5,834
square meter
4) Lot E4(6) & Lot E4(7) [PT 4092 Lot No 5050, 5051, 05/04/2018 (A) 15 Land/Biomass Lot 5050: 2.640 5,423
& PT 4091], Mukim Panchor, plant hectares
Kawasan Perindustrian Daerah Kota Bharu, Leasehold Lot 5051: 2.366
Pengkalan Chepa II, Kelantan. (Expiring on: hectares
16100 Kota Bharu, Kelantan. 15.02.2063)
05/04/2018 (A) 12 Factory/ 10,546.36 5,977
Warehouse square meter
05/04/2018 (A) 4 Freehold Office building/ 2.64 hectares 4,072

Warehouse
5) PLO 5, Jalan Mahsuri 1, Lot PTD 38818, 05/04/2018 (A) 29 Leasehold Factory/Glove 3 acres/ 3,863
KM 7.5, Jalan Mersing, No. HS(D) 23914, (Expiring on: manufacturing 7,515.14
Kawasan Perindustrian Kluang, Mukim of Kluang, 01.10.2049 ) square meter
86007 Kluang, Johor. Daerah Kluang,
Johor .
6) PLO 5, Jalan Mahsuri 1, Lot PTD 26427, 05/04/2018 (A) 12 Leasehold Factory/Glove 3.206 acres/ 7,268
KM 7.5, Jalan Mersing, No. HS(D) 25436, (Expiring on: manufacturing 8,929.41
Kawasan Perindustrian Kluang, Mukim of Kluang, 07.11.2050) square meter
86007 Kluang, Johor. Daerah Kluang,
Johor.
7) Lot 366, GM 2547, 05/04/2018 (A) NA Freehold Agricultural land 1.467 hectares 363
GM 2547, Mukim of Kluang,
Mukim of Kluang, Daerah Kluang,
Daerah Kluang, Johor. Johor.
8) Lot 7, Jalan Hi Tech 12, Lot 7 (PT2487), Kulim 05/04/2018 (A) 5 Freehold Land 2,252,052 33,866
Kulim Hi Tech Park (Phase 3), Hi-Tech Park, Bandar square feet
09090 Kulim, Kedah. Kulim, Daerah Kulim,
Kedah Darul Aman. Factory 1,316,383 29,971
square feet

LIST OF PROPERTIES
AUDITED
DATE OF
AGE OF NET BOOK
(YEARS) AT 31.8.2018
(RM’000)
9) Rua Ricardo Georg, No CEP 89.069-100 05/04/2018 (A) 5 Leasehold Office building/ 1,300 65
1.115 Itoupava Central - CEP Blumenau - Santa (Expiring on: Warehouse square meter
89.069-100 Blumenau - Santa Catarina, Brasil. 30.09.2018)
Catarina, Brasil.
P) DURAMEDICAL SDN BHD
1) No. 39 Jalan Utarid U5/27, PN 18556 Lot No.41047, 14/05/2018 (A) 8 Leasehold Land shop 279 square meter 2,409
Bandar Pinggiran Subang, Mukim of Sungai Buloh, (Expiring on:
Seksyen U5, Petaling, Selangor. 11.12.209 6)
2) No. 32 Jalan Meru Indah 20, GRN 54893, 14/05/2018 (A) 3 Freehold One and half 836 square meter 572
Taman Perindustrian Meru Indah, Lot No. 34096, storey Semi-
Off Persiaraan Hamzah Alang, Mukim Kapar, Detached Factory
42200 Klang, Klang, Selangor.
Selangor Darul Ehsan.
Q) GREAT GLOVE (THAILAND) CO., LTD.
1) 180/3 Moo.7, 180/3 Moo.7, 28/02/2006 (A) 12 Freehold Building Block A 3,832 square meter 3,227
Srisonthon Rd., Srisonthon Rd., (Thai Baht
T.Srisonthon, A.Thalang, T.Srisonthon, A.Thalang, 25,703)
Phuket 83110 Thailand. Phuket 83110 Thailand.
01/10/2016 (A) 1 Freehold Building Block B 4,616 square meter 12,279

(Thai Baht
97,811)
R) TG FMT SDN BHD
1) Lot 4987, Jalan Bunga Raya, Block B, Lot 4987, 01/06/2017 (A) 1 Freehold Building 24,400 square feet 3,569
Batu 6 Off Jalan Meru, Jalan Bunga Raya,
41050 Klang, Batu 6 Off Jalan Meru,
Selangor D.E. 41050 Klang,
Selangor D.E.
S) EASTERN PRESS SDN BHD
1) Lot 1, Jalan Paku 16/6, HS (D) 167430 Lot 1, 05/01/2018 (A) 4 Leasehold Production use 3,121.44 5,323
40000 Shah Alam. Mukim Damansara, (Expiring on: square meter
Petaling Jaya, 03.04.2068)
Selangor.
2) Lot 3, Jalan Paku 16/6, Q.T. R. 4248 L.O.No 05/01/2018 (A) 28 Leasehold Production use 1,774.39 5,096
40000 Shah Alam. Lot 3, Jalan Paku 2/6, (Expiring on: square meter
Mukim Damansara, 03.04.2068)
District Klang.
3) Lot 5, Jalan Paku 16/6, Kawasan Kilang 05/01/2018 (A) 31 Leasehold Production use 1,774.39 4,152
40000 Shah Alam. Berderet Seksyen 16, (Expiring on: square meter
Shah Alam, Selangor. 03.04.2068)
4) Lot 13 & Lot 15, Q.T. R. 4253 & 4254, 05/01/2018 (A) 22 Leasehold Production use Lot 13: 2,707.41 7,703
Jalan Paku 2/6, Jalan Paku 2/6, (Expiring on: square meter
40000 Shah Alam. Mukim of Damansara, 15.01.2068)
District Klang. 22 Production use Lot 15: 2,856.16
square meter
5) Unit B2-602 Block 2, Lot 10970, Section 16, 05/01/2018 (A) 20 Leasehold Workers 823 square feet 63
Pangsapuri Anggerik Indah, Shah Alam / Petaling / (Expiring on: apartment
Jalan Sempadan 16/7, Pajakan Negeri 110147 01.03.2099)
Seksyen 16, Apartment.
6) Unit B2-604 Block 2, Lot 10970, Section 16, 05/01/2018 (A) 20 Leasehold Workers 740 square feet 70
Pangsapuri Anggerik Indah, Shah Alam / Petaling / (Expiring on: apartment
Jalan Sempadan 16/7, Pajakan Negeri 110147 01.03.2099)
Seksyen 16, Apartment

ANALYSIS OF SHAREHOLDINGS
AS AT 29 OCTOBER 2018
Share Capital
Total Issued Share : 2,560,458,248 Ordinary Shares

Types of Shares : Ordinary Share
Voting Rights : One (1) vote per Ordinary Share on a poll
1. DISTRIBUTION OF SHAREHOLDINGS
Size of Holdings No. of Holders^ %^ No. of Holdings^ %^
1 to 99 168 1.08 3,726 0.00

100 to 1,000 4,000 25.75 2,314,778 0.09
1,001 to 10,000 8,225 52.96 33,771,828 1.32
10,001 to 100,000 2,318 14.92 70,239,266 2.75
100,001 to 127,815,841 820 5.28 2,304,346,476 90.14
(less than 5% of Issued Shares)
127,815,842 (5% of 1 0.01 145,640,774 5.70
Issued Shares) and above
Total 15,532 100.00 2,556,316,848 100.00
Note:
^ Excluding Treasury Shares
2. SUBSTANTIAL SHAREHOLDERS
The Substantial Shareholders of the Company based on the Register of Substantial Shareholders of the
Company and their respective shareholdings are as follows:
No. Name of Substantial No. of Ordinary Shares Held

Shareholders
Direct %^ Indirect %^
1. Tan Sri Dr Lim Wee Chai 739,829,552 28.941 174,443,216 * 6.824

2. Puan Sri Tong Siew Bee 7,230,392 0.283 907,042,376 ** 35.482
3. Lim Hooi Sin 38,563,648 1.509 875,675,120 *** 34.255
4. Lim Jin Feng 34,000 0.001 875,675,120 *** 34.255
5. Firstway United Corp 128,615,176 5.031 - -
6. Employees Provident Fund Board 155,707,474 6.091 - -
7. Kumpulan Wang Persaraan 130,801,200 5.117 12,557,766 0.491
(Diperbadankan)
Note:
^ Calculated based on 2,556,316,848 Ordinary Shares (issued share capital of 2,560,458,248 Ordinary
Shares less Treasury Shares of 4,141,400)
* Deemed interested through Puan Sri Tong Siew Bee, Mr. Lim Hooi Sin, Mr. Lim Jin Feng and Firstway
United Corp’s direct interest in Top Glove
** Deemed interested through Tan Sri Dr Lim Wee Chai, Mr. Lim Hooi Sin, Mr. Lim Jin Feng and Firstway
United Corp’s direct interest in Top Glove
*** Deemed interested through Tan Sri Dr Lim Wee Chai, Puan Sri Tong Siew Bee and their direct interest
in Firstway United Corp

AS AT 29 OCTOBER 2018 (CONT’D)
3. DIRECTORS’ SHAREHOLDINGS
The Directors’ Shareholdings of Top Glove based on the Register of Directors’ Shareholdings and/or Record
of Depositors are as follows:
No. Name of Directors No. of Ordinary Shares Held

Direct %^ Indirect %^
1. Tan Sri Dr Lim Wee Chai 739,829,552 28.941 174,443,216* 6.824
2. Tan Sri Dato’ Seri Utama Arshad Bin Ayub 1,600,000 0.063 - -
3. Tan Sri Rainer Althoff - - - -
4. Dato’ Lee Kim Meow 973,600 0.038 40,000** 0.002
5. Puan Sri Tong Siew Bee 7,230,392 0.283 907,042,376*** 35.482
6. Lim Hooi Sin 38,563,648 1.509 875,675,120**** 34.255
7. Lim Cheong Guan 297,600 0.012 - -
8. Dato’ Lim Han Boon - - - -
9. Datuk Noripah Binti Kamso - - - -
10. Sharmila Sekarajasekaran 10,000,000 0.391 - -
11. Tay Seong Chee, Simon - - - -
12. Datuk Dr. Norma Mansor - - - -
Note:
^ Calculated based on 2,556,316,848 Ordinary Shares (issued share capital of 2,560,458,248 Ordinary Shares less
Treasury Shares of 4,141,400)
* Deemed interested through Puan Sri Tong Siew Bee, Mr. Lim Hooi Sin, Mr. Lim Jin Feng and Firstway United
Corp’s direct interest in Top Glove
** Deemed interested through his wife, Datin Chung Lee Moy
*** Deemed interested through Tan Sri Dr Lim Wee Chai, Mr. Lim Hooi Sin, Mr. Lim Jin Feng and Firstway United
Corp’s direct interest in Top Glove
**** Deemed interested through Tan Sri Dr Lim Wee Chai, Puan Sri Tong Siew Bee and their direct interest in Firstway
United Corp
The Directors’ Share Options held under the Employees’ Share Option Scheme of the Company based on
the Register of Directors’ Shareholding are as follows:
No. Name of Directors No. of Options Held

Direct Indirect
1. Tan Sri Dr Lim Wee Chai 370,000 77,800*
2. Tan Sri Dato’ Seri Utama Arshad Bin Ayub - -
3. Tan Sri Rainer Althoff - -
4. Dato’ Lee Kim Meow 122,000 -
5. Puan Sri Tong Siew Bee 18,200 429,600**
6. Lim Hooi Sin 49,200 388,200***
7. Lim Cheong Guan 108,800 -
8. Dato’ Lim Han Boon - -
9. Datuk Noripah Binti Kamso - -
10. Sharmila Sekarajasekaran - -
11. Tay Seong Chee, Simon - -
12. Datuk Dr. Norma Mansor - -
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
AS AT 29 OCTOBER 2018 (CONT’D)
4. THIRTY (30) LARGEST SECURITIES ACCOUNT HOLDERS AS PER THE RECORD OF DEPOSITORS
No. Names Shareholdings %^
1. Citigroup Nominees (Tempatan) Sdn. Bhd. 145,640,774 5.70
- Employees Provident Fund Board
2. Kumpulan Wang Persaraan (Diperbadankan) 125,840,000 4.92
3. DB (Malaysia) Nominee (Tempatan) Sendirian Berhad 105,600,000 4.13
- Bank of Singapore Limited for Tan Sri Dr Lim Wee Chai
4. RHB Capital Nominees (Tempatan) Sdn. Bhd. 77,000,000 3.01
- Pledged securities account for Tan Sri Dr Lim Wee Chai
5. UOBM Nominees (Tempatan) Sdn. Bhd. 76,000,000 2.97
- United Overseas Bank Nominees (Pte) Ltd for Tan Sri Dr Lim Wee Chai
6. CIMSEC Nominees (Asing) Sdn. Bhd. 72,615,176 2.84
- CIMB Bank for Firstway United Corp
7. Public Nominees (Tempatan) Sdn. Bhd. 62,500,000 2.44
- Pledged securities account for Tan Sri Dr Lim Wee Chai
8. CIMSEC Nominees (Tempatan) Sdn. Bhd. 61,800,000 2.42
- CIMB Bank for Tan Sri Dr Lim Wee Chai
9. Maybank Nominees (Tempatan) Sdn. Bhd. 61,538,200 2.41
- Maybank Trustees Berhad for Public Regular Savings Fund
10. Cartaban Nominees (Tempatan) Sdn. Bhd. 56,000,000 2.19
- Standard Chartered Bank Singapore Branch (Private Bank) for Tan
Sri Dr Lim Wee Chai
- UBS AG Singapore for Tan Sri Dr Lim Wee Chai
12. CIMB Group Nominees (Tempatan) Sdn. Bhd. 50,000,000 1.96
- Pledged securities account - DBS Bank Ltd for Tan Sri Dr Lim Wee Chai
13. MFP Capital Corporation 44,900,000 1.76
14. DB (Malaysia) Nominee (Asing) Sdn. Bhd. 44,024,000 1.72
- Exempt an for Bank of Singapore Limited
15. RHB Capital Nominees (Asing) Sdn. Bhd. 44,000,000 1.72
- Pledged securities account for Firstway United Corp (RHB Bank (L) Ltd.)
16. Citigroup Nominees (Asing) Sdn. Bhd. 41,436,400 1.62
- Exempt an for the Central Depository (Pte) Limited
17. HSBC Nominees (Tempatan) Sdn. Bhd. 38,000,000 1.49
- Pledged securities account - HBAP SG for Tan Sri Dr Lim Wee Chai
18. DB (Malaysia) Nominee (Asing) Sdn. Bhd. 32,163,280 1.26
- State Street Australia Fund Remi for Retail Employees
Superannuation Trust
- Exempt an for State Street Bank & Trust Company (West CLT OD67)
- Exempt an for Citibank New York (Norges Bank 9)
- CBHK for Hostplus Pooled Superannuation Trust (Northcape Cap)
22. HSBC Nominees (Asing) Sdn. Bhd. 27,006,200 1.06
- JPMCB na for Vanguard Emerging Markets Stock Index Fund
- JPMCB na for Vanguard Total International Stock Index Fund
- UBS AG Singapore for Tan Sri Dr Lim Wee Chai
25. Malaysia Nominees (Tempatan) Sendirian Berhad 24,890,000 0.97
- Great Eastern Life Assurance (Malaysia) Berhad (Par 1)
26. Cartaban Nominees (Tempatan) Sdn. Bhd. 22,539,200 0.88
- PAMB for Prulink Equity Fund
27. CIMB Group Nominees (Tempatan) Sdn. Bhd. 22,000,000 0.86
- Pledged securities account for Tan Sri Dr Lim Wee Chai (HGDL- CBM-LC1)
- BPSS SYD for Northcape Capital Global Emerging Markets Fund
29. Lim Hooi Sin 20,578,920 0.81
30. Amanahraya Trustees Berhad 20,539,400 0.80
- Public Islamic Dividend Fund
Total 1,492,757,286 58.39
Note: ^ alculated based on 2,556,316,848 Ordinary Shares (issued share capital of 2,560,458,248
C
Ordinary Shares less Treasury Shares of 4,141,400)

NOTICE OF THE TWENTIETH
ANNUAL GENERAL MEETING
NOTICE IS HEREBY GIVEN THAT the Twentieth Annual General Meeting (“20th AGM”) of the Company will be held
at TG Grand Ballroom 1, Level 9, Top Glove Tower of 16, Persiaran Setia Dagang, Setia Alam, Seksyen U13, 40170
Shah Alam, Selangor Darul Ehsan, Malaysia on Tuesday, 8 January 2019 at 10:30 a.m. for the following purposes:
AGENDA
1. To receive the Audited Financial Statements for the financial year ended 31 August (Refer to Note 2)
2018 together with the Reports of the Directors and the Auditors thereon.
2. To approve the declaration of a Single Tier Final Dividend of 5.0 sen per share for the (Resolution 1)
financial year ended 31 August 2018.
3. To re-elect the following Directors who retire pursuant to Article 94 of the Company’s
Constitution and being eligible, have offered themselves for re-election:
(a) Dato’ Lee Kim Meow (Resolution 2)
(b) Puan Sri Tong Siew Bee (Resolution 3)
(c) Lim Hooi Sin (Resolution 4)
4. To approve the payment of Directors’ Fees for the financial year ended 31 August 2018. (Resolution 5)
5. To approve the payment of Directors’ Benefits (excluding Directors’ Fees) to the Non- (Resolution 6)
Executive Directors up to an amount of RM200,000.00 from 9 January 2019 until the
next Annual General Meeting of the Company to be held in year 2020.
6. To re-appoint Messrs. Ernst & Young as Auditors of the Company until the conclusion of (Resolution 7)
the next Annual General Meeting and to authorise the Directors to fix their remuneration.
7. As Special Business
To consider and, if thought fit, with or without any modification, to pass the following
resolutions which will be proposed as Ordinary Resolutions:
(a) Ordinary Resolution No. 1
Authority to Issue Shares pursuant to the Companies Act 2016 (“the Act”) (Resolution 8)
“THAT subject to the Act, the Constitution of the Company, and the approvals
from Bursa 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, 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
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 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 such
authority shall commence immediately upon the passing of this resolution and
continue to be in force until the conclusion of the next Annual General Meeting
of the Company.”

NOTICE OF THE 20TH AGM
(CONT’D)
(b) Ordinary Resolution No. 2

Proposed Renewal of Share Buy-Back Authority (Resolution 9)
“THAT subject to the Companies Act 2016 (“the Act”), the Company’s
Constitution, Bursa Malaysia Securities Berhad (“Bursa Securities”) Main Market
Listing Requirements (“Main LR”) and the approvals of all relevant governmental
and/or regulatory authorities (if any), the Company be and is hereby authorised
to purchase such amount of ordinary shares in the Company (“Proposed Share
Buy-Back”) as may be determined by the Board from time to time through Bursa
Securities upon such terms and conditions as the Board may deem fit and
expedient in the interest of the Company provided that the aggregate number
of shares purchased pursuant to this resolution shall not exceed ten per centum
(10%) of the total number of issued shares of the Company;
THAT the maximum amount of funds to be utilised for the purpose of the
Proposed Share Buy-Back shall not exceed the aggregate retained profits of the
Company based on its audited financial statements for the financial year ended
31 August 2018;
THAT at the discretion of the Board, the shares of the Company to be purchased

are proposed to be cancelled and/or retained as treasury shares and/or
distributed as dividends and/or resold on Bursa Securities and/or transferred
the shares for the purposes of or under an employees’ share scheme in the
manner as prescribed by the Act, rules, regulations and orders made pursuant
to the Act and the Main LR of Bursa Securities and any other relevant authorities
for the time being in force;
THAT such authority shall commence immediately upon passing of this resolution until:
(i) the conclusion of the next Annual General Meeting of the Company following
this general meeting at which such resolution was passed at which time it
will lapse unless by ordinary resolution passed at that Meeting, the authority
is renewed, either unconditionally or subject to conditions;
(ii) the expiration of the period within which the next Annual General Meeting
after that date is required by law to be held; or
(iii) the authority is revoked or varied by ordinary resolution passed by the

shareholders of the Company in general meeting,
whichever is the earlier;
AND THAT the Board be and is hereby authorised to take such steps to give
full effect to the 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 and things as the Board may deem
fit and expedient in the best interest of the Company.”

(CONT’D)
(c) Ordinary Resolution No. 3
Proposed Allocation of Awards to Ang Eng Li Andrea (Resolution 10)
“THAT pursuant to the Employees’ Share Grant Plan (“ESGP”) as approved

by the shareholders under Ordinary Resolution 2 at the Extraordinary General
Meeting held on 6 January 2016, approval be and is hereby given to the Board
to authorise the ESGP Committee to award, from time to time throughout the
duration of the ESGP, up to 300,000 Top Glove Shares under the ESGP to Ang
Eng Li Andrea, a person connected with Tan Sri Dr Lim Wee Chai and Puan Sri
Tong Siew Bee, provided that not more than ten per centum (10%) of the Top
Glove Shares made available under the ESGP and any other schemes involving
issuance of new Top Glove Shares to employees which may be implemented
from time to time by the Company is allocated to her if she, either singly or
collectively through persons connected with her, holds twenty per centum (20%)
or more of the total number of issued shares of the Company (excluding treasury
shares), subject always to such terms and conditions of the By-Laws and/or
any adjustments which may be made in accordance with the provisions of the
By-Laws and Listing Requirements, or any prevailing guidelines issued by Bursa
Securities or any other relevant authorities, as amended from time to time.”
(d) Ordinary Resolution No. 4
Proposed Allocation of Options to Ang Eng Li Andrea (Resolution 11)
“THAT pursuant to the new Employees’ Share Option Scheme (“ESOS”) as

approved by the shareholders under Ordinary Resolution 1 at the Extraordinary
General Meeting held on 9 January 2018, approval be and is hereby given to the
Board to authorise the ESOS Committee to offer, from time to time throughout the
duration of the new ESOS, options to subscribe for up to 300,000 new Top Glove
Shares under the new ESOS to Ang Eng Li Andrea, a person connected with Tan
Sri Dr Lim Wee Chai and Puan Sri Tong Siew Bee, provided that not more than
ten per centum (10%) of the Top Glove Shares made available under the new
ESOS and any other employee share schemes which may be implemented from
time to time by the Company is allocated to her if she, either singly or collectively
through persons connected with her, holds twenty per centum (20%) or more of
the total number of issued Top Glove Shares (excluding treasury shares), subject
always to such terms and conditions of the new ESOS By-Laws and/or any
adjustments which may be made in accordance with the provisions of the new
ESOS By-Laws and Listing Requirements, or any prevailing guidelines issued by
Bursa Securities or any other relevant authorities, as amended from time to time.”
(e) Special Resolution
Proposed Adoption of the New Constitution of the Company (Resolution 12)
“THAT approval be and is hereby given to revoke the existing Constitution of

the Company with immediate effect and in place thereof, the proposed new
Constitution of the Company, as set out in Part C of the Circular to Shareholders
dated 14 November 2018 despatched together with the Company’s Annual
Report 2018 be and is hereby adopted as the Constitution of the Company
(“Proposed Adoption”);

AND THAT the Directors of the Company be and are hereby authorised to assent
to any modification, variation and/or amendment as may be required by the
relevant authorities (if any) and to do all acts and things and take all such steps
as may be considered necessary to give effect to the Proposed Adoption.”
8. To transact any other ordinary business for which due notice shall have been given.

(CONT’D)
NOTICE OF DIVIDEND ENTITLEMENT
NOTICE IS ALSO HEREBY GIVEN THAT a Single Tier Final Dividend of 5.0 sen per share in respect of the
financial year ended 31 August 2018 will be payable on 25 January 2019 to Depositors who are registered in the
Record of Depositors at the close of business on 11 January 2019, if approved by members at the forthcoming
20th AGM on 8 January 2019.
A Depositor shall qualify for entitlement only in respect of:
(a) Shares transferred into the Depositor’s Securities Account before 4:00 p.m. on 11 January 2019 in respect
of ordinary transfers; and
(b) Shares bought on Bursa Malaysia Securities Berhad (“Bursa Securities”) on a cum entitlement basis
according to the Rules of Bursa Securities.
By Order of the Board
CHUA SIEW CHUAN CHIN MUN YEE LIM KEAT SEE

(MAICSA 0777689) (MAICSA 7019243) (MAICSA 7020290)
Chartered Secretary Chartered Secretary Chartered Secretary
SHAH ALAM
14 November 2018
NOTES TO THE NOTICE OF THE 20TH AGM:
1. Proxy
i. In respect of deposited securities, only members whose names appear in the Record of Depositors on
31 December 2018 (General Meeting Record of Depositors) shall be eligible to attend the Meeting.
ii. A member of the Company entitled to attend and vote at the Meeting is entitled to appoint not more
than two (2) proxies to attend and vote in his stead. A proxy may but need not be a member of the
Company and a member may appoint any person to be his proxy. There shall be no restriction as to
the qualification of the proxy. A proxy appointed to attend and vote at the Meeting shall have the same
rights as the member to speak at the Meeting.
iii. Where a holder appoints more than one (1) proxy, the appointment shall be invalid unless he specifies
the proportion of his shareholdings to be represented by each proxy.
iv. The instrument appointing a proxy shall be in writing under the hand of the appointor or of his attorney
duly authorised in writing or, if the appointor is a corporation, either under its seal or under the hand of
an officer or attorney duly authorised.
v. Where a member of the Company is an exempt authorised nominee which holds ordinary shares in the
Company for multiple beneficial owners in one (1) securities account (“omnibus account”), there is no
limit to the number of proxies which the exempt authorised nominee may appoint in respect of each
omnibus account it holds.
vi. The instrument appointing a proxy must be deposited at the office of the Share Registrar, Securities
Services (Holdings) Sdn. Bhd. at Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara,
Damansara Heights, 50490 Kuala Lumpur, Wilayah Persekutuan, Malaysia not less than forty-eight
(48) hours before the time appointed for holding the Meeting or at any adjournment thereof.

(CONT’D)
2. Audited Financial Statements for the financial year ended 31 August 2018
The Audited Financial Statements under Agenda 1 is meant for discussion only as the provision of Section
340(1) of the Companies Act 2016 (“the Act”) does not require the Audited Financial Statements to be
formally approved by the shareholders. As such, this item is not put forward for voting.
3. Declaration of a Single Tier Final Dividend of 5.0 sen per share for the financial year ended 31 August 2018
The Company’s existing dividend policy provides that the Company intends to pay annual dividends of not less
than 50% of its Profit after Tax and Minority Interests, subject to a number of factors including the Company’s
available cash and cash equivalents, return on equity and retained earnings, the Company’s projected levels
of capital expenditure and other investment plans and other factors considered relevant by the Board.
In accordance with Article 153 of the Company’s Constitution, the Company in general meeting may declare
dividends, but no dividend shall exceed the amount recommended by the Directors. A Single Tier Final
Dividend of 5.0 sen per share based on 2,556,365,448 ordinary shares (the adjusted issued share capital after
netting 4,141,400 treasury shares) as at the date of the Notice amounting to RM127,818,272.40 in respect of
the financial year ended 31 August 2018 is proposed for shareholders’ approval. The actual amount of Single
Tier Final Dividend per ordinary share would be dependent on the actual number of ordinary shares as at the
book closure date. Pursuant to Paragraph 8.26 of Bursa Securities Main LR , the Single Tier Final Dividend, if
approved, shall be paid not later than three (3) months from the date of the shareholders’ approval.
4. Re-election of Directors who retire by rotation pursuant to Article 94 of the Company’s Constitution
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 at least in each three (3) years but shall be eligible for re-election.
Tan Sri Dato’ Seri Utama Arshad Bin Ayub who has served on the Board as an Independent Non-Executive
Director for more than 12 years and who retires by rotation in accordance with Article 94 of the Constitution,
has notified the Board that he does not wish to seek re-election as Director. Hence, he shall retires as Director
at the conclusion of the 20th AGM.
The profiles of the Directors who are standing for re-election as per Agenda 3 of the Notice of the 20th AGM
are stated on pages 12 and 14 of this Annual Report.
5. Determination and Payment of Directors’ Fees
Paragraph 7.24 of Bursa Securities Main LR stipulates that the fees of directors, and any benefits payable
to directors shall be subject to annual shareholders’ approval at a general meeting. Therefore, shareholders’
approval is required for the determination and payment of Directors’ Fees amounting to RM1,201,600.00 for
the financial year ended 31 August 2018.
6. Directors’ Benefits (excluding Directors’ Fees)
The Directors’ Benefits (excluding Directors’ Fees) comprise the meeting allowances payable to the Non-
Executive Directors. The meeting allowances are fixed as follows:
Type of Meeting Meeting Allowance per Meeting (RM)

Chairman Non-Executive Director/Member
Board Nil 1,250.00
General Nil 1,250.00
Board Committee 1,000.00 750.00


(CONT’D)
In determining the estimated total Directors’ Benefits (excluding Directors’ Fees) for the period commencing
9 January 2019 until the next AGM (“Relevant Period”), the arrears payment to the Director for the period
from 1 July 2018 to 8 January 2019 which exceeded the amount approved by the shareholders in the
19th AGM and the size of the Board and Board Committees as well as the estimated number of meetings
scheduled to be held during the Relevant Period were taken into consideration.
7. Re-appointment of Auditors
The Audit Committee and the Board have considered the re-appointment of Messrs. Ernst & Young as
Auditors of the Company and collectively agreed that Messrs. Ernst & Young have met the relevant criteria
prescribed by Paragraph 15.21 of Bursa Securities Main LR.
EXPLANATORY NOTE TO SPECIAL BUSINESS:
1. Authority to Issue Shares pursuant to the Act
The proposed adoption of Ordinary Resolution No. 1 is for the purpose of granting a renewed general
mandate (“General Mandate”) and empowering the Directors of the Company, pursuant to the Act, to issue
and allot new shares in the Company from time to time provided that the aggregate number of shares issued
pursuant to the General Mandate does not exceed ten per centum (10%) of the total number of issued
shares of the Company for the time being. The General Mandate, unless revoked or varied by the Company
in general meeting, will expire at the conclusion of the next AGM of the Company.
The General Mandate will provide flexibility to the Company for allotment of shares for any possible
fundraising activities, including but not limited to placement of shares for the purpose of funding future
investment project(s), working capital and/or acquisition(s).
As at the date of this Notice, there were no new shares issued pursuant to the mandate granted to the Directors
at the Nineteenth (19th) AGM held on 9 January 2018 and which will lapse at the conclusion of the 20th AGM.
2. Proposed Renewal of Authority for Share Buy-Back
The proposed adoption of Ordinary Resolution No. 2 is for the purpose of renewing the authority granted by
the shareholders of the Company at the 19th AGM held on 9 January 2018. The aforesaid proposed renewal
will allow your Board of Directors to exercise the power of the Company to purchase not more than ten
per centum (10%) of the total number of issued shares of the Company at any time within the time period
stipulated in Bursa Securities Main LR.
3. Proposed Allocation of Awards to Ang Eng Li Andrea
The proposed adoption of Ordinary Resolution No. 3, if passed, will enable the Company to award Ang
Eng Li Andrea, the person connected to Tan Sri Dr Lim Wee Chai and Puan Sri Tong Siew Bee, up to
300,000 shares of the Company (“Top Glove Shares”) to be issued to and/or vested in her pursuant to the
Employees’ Share Grant Plan (“ESGP”) over a period of ten (10) years commencing from the date on which
the ESGP takes effect. Ang Eng Li Andrea and persons connected to her shall abstain from voting on this
resolution. Tan Sri Dr Lim Wee Chai and Puan Sri Tong Siew Bee had also abstained from all deliberation
and voting on this resolution at the Board of Directors’ Meeting.
4. Proposed Allocation of Options to Ang Eng Li Andrea
The proposed adoption of Ordinary Resolution No. 4, if passed, will enable the Company to award Ang Eng
Li Andrea, the person connected to Tan Sri Dr Lim Wee Chai and Puan Sri Tong Siew Bee, up to 300,000 Top
Glove Shares to be issued to and/or vested in her pursuant to the new Employees’ Share Option Scheme
(“ESOS”) over a period of ten (10) years commencing from the date on which the new ESOS takes effect.
Ang Eng Li Andrea and persons connected to her shall abstain from voting on this resolution. Tan Sri Dr Lim
Wee Chai and Puan Sri Tong Siew Bee had also abstained from all deliberation and voting on this resolution
at the Board of Directors’ Meeting.

(CONT’D)
5. Proposed Adoption of the New Constitution of the Company (“Proposed Adoption”)
The proposed adoption of Special Resolution, if passed, will streamline the Company’s Constitution with the
new provisions of the Companies Act 2016, amendments made to Bursa Securities Main LR and enhance
administrative efficiency. The Board proposed that the existing Constitution be revoked in its entirety and
the proposed new Constitution of the Company as set out in Part C of the Circular be adopted as the new
Constitution of the Company.
The Proposed Adoption shall take effect once it has been passed by a majority of not less than 75% of such
members who are entitled to attend and vote and do vote in person or by proxy at the 20th AGM.
Personal data privacy:
By submitting an instrument appointing a proxy(ies) and/or representative(s) to attend, speak and vote at the AGM
and/or any adjournment thereof, a member of the Company (i) consents to the collection, use and disclosure of
the member’s personal data by the Company (or its agents) for the purpose of the processing and administration
by the Company (or its agents) of proxies and representatives appointed for the AGM (including any adjournment
thereof) and the preparation and compilation of the attendance lists, minutes and other documents relating to
the AGM (including any adjournment thereof), and in order for the Company (or its agents) to comply with any
applicable laws, listing rules, regulations and/or guidelines (collectively, the “Purposes”), (ii) warrants that where
the member discloses the personal data of the member’s proxy(ies) and/or representative(s) to the Company
(or its agents), the member has obtained the prior consent of such proxy(ies) and/or representative(s) for the
collection, use and disclosure by the Company (or its agents) of the personal data of such proxy(ies) and/or
representative(s) for the Purposes, and (iii) agrees that the member will indemnify the Company in respect of any
penalties, liabilities, claims, demands, losses and damages as a result of the member’s breach of warranty.
STATEMENT ACCOMPANYING NOTICE OF AGM
As at date of this notice, there are no individuals who are standing for election as Directors (excluding the above
Directors who are standing for re-election) at this 20th AGM.
Water tight test for glove quality inspection

ADMINISTRATIVE DETAILS FOR THE 20TH AGM
Date : Tuesday, 8 January 2019
Time : 10.30 a.m.
Venue of Meeting : TG Grand Ballroom 1
Level 9, Top Glove Tower of 16, Persiaran Setia Dagang, Setia Alam,
Seksyen U13, 40170 Shah Alam, Selangor Darul Ehsan, Malaysia
Time & Place of Registration : From 8.30 a.m. onwards
Level 2, Top Glove Tower of 16, Persiaran Setia Dagang, Setia Alam,
Seksyen U13, 40170 Shah Alam, Selangor Darul Ehsan, Malaysia
REGISTRATION
1. Registration will commence at 8.30 a.m. and will remain open until the conclusion or adjournment of
the Twentieth Annual General Meeting (“AGM”) or such time as may be determined by the Chairman
of the meeting.
2. Please produce your ORIGINAL National Registration Identification Card (“NRIC”)/ Passport during
registration for verification. Kindly ensure that you collect your NRIC/Passport upon completion of
registration. No person will be allowed to register on behalf of another person even with the original NRIC/
Passport of the other person.
3. Upon registration, you will be given a barcoded wristband, gift bag, voucher for breakfast box and lunch box
redemption and AGM question form.
A shareholder or a proxy-holder is only entitled for one (1) gift bag, one (1) breakfast voucher and one (1)
lunch voucher each. In the event that a shareholder is also an appointed proxy/ proxies; or if there is any
subsequent appointment(s) to an already appointed proxy, he/ she will be entitled for another one (1) gift
bag, one (1) breakfast voucher and one (1) lunch voucher only. Henceforth, any one (1) shareholder/ proxy
may be entitled to a maximum of two (2) gift bags, two (2) breakfast vouchers and two (2) lunch vouchers.
4. Please fill up the AGM question form if you have any question to ask in the Twentieth AGM and submit the
completed form at the Help Desk counter located at Level 2 before 10.00 a.m. or alternatively, you could
ask the question during the AGM.
5. Only those with barcoded wristband will be allowed to enter the meeting hall. If you are attending as
shareholder as well as proxy, you will only be given one identification barcoded wristband.
6. To place your votes, please produce your barcoded wristband at the designated e-voting stations in the
meeting hall.
7. Should you have any queries or are unable to register, please proceed to the Help Desk counter for
clarifications.
PARKING
Parking is complimentary at Top Glove Tower ONLY. Please produce your parking ticket for validation at the Help
Desk counter.
BREAKFAST BOX AND LUNCH BOX REDEMPTION
Breakfast box may be redeemed upon registration at Level 2 and lunch box may be redeemed upon the conclusion
of voting by shareholders and proxies at the foyer at Level 9.
HELP DESK
Please proceed to Help Desk for the following matters:

1. Parking ticket validation;
2. Registration of Corporate Member;
3. Any revocation of Proxy’s Appointment or any clarifications or queries or feedbacks; and
4. Submission of AGM question form.

ADMINISTRATIVE DETAILS FOR THE 20TH AGM
(CONT’D)
GENERAL MEETING RECORD OF DEPOSITORS

Members whose names appear in the Record of Depositors as at 31 December 2018 shall be entitled to attend,
speak and vote at the Twentieth AGM or appoint proxies to attend, speak and vote on members’ behalf.
VOTING PROCEDURE
The voting at the AGM will be conducted by poll. Poll Administrator and Independent Scrutineers will be appointed
to conduct the polling process and verify the results of the poll, respectively. Poll voting for each of the resolution
will be conducted upon the conclusion of the deliberations of all the businesses indicated in the Notice of the
Twentieth AGM. The registration for attendance will be closed to facilitate the commencement of the poll voting.
PROXY
1. member of the Company entitled to attend and vote at the Meeting is entitled to appoint not more than two (2)
A
proxies, to attend and vote on his/ her behalf. If you are unable to attend the Meeting and wish to appoint a proxy to
vote on your behalf, please submit your Form of Proxy in accordance with the notes and instructions printed therein.
2. If you wish to attend the Meeting yourself, please do not submit any Form of Proxy for the Meeting that you
wish to attend. You will not be allowed to attend the Meeting together with a proxy appointed by you.
3. If you have submitted your Form of Proxy prior to the Meeting and subsequently decided to attend the
Meeting yourself, please proceed to the Help Desk to revoke the appointment of your proxy.
4. Please also ensure that the original Form of Proxy is deposited at the office of the Share Registrar, Securities
Services (Holdings) Sdn. Bhd. at Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara,
Damansara Heights, 50490 Kuala Lumpur, Wilayah Persekutuan, Malaysia not less than forty-eight (48)
hours before the time appointed for holding the Meeting or at any adjournment thereof.
ENQUIRY
Please email to agm2019@topglove.com.my, if you have any queries in relation to the AGM, Form of Proxy,
Administrative Details of the Meeting and the 2018 Annual Report. This email account was created for AGM
enquiries and will only be valid from Wednesday, 14 November 2018 to Thursday, 10 January 2019.
Alternatively, you may contact our Share Registrar at Tel: +603-2084 9000, during office hours:
1. Mr. Wong Piang Yoong (piang.yoong.wong@sshsb.com.my)
2. Encik Mohd Hisham Hashim (hishamh@sshsb.com.my)
3. Puan Nurhayati Ang (nurhayati.ang@sshsb.com.my)
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BY NK
PA VE Bkt Cahaya
2) GPS Coordinate:
RTH
SS -Se
tia A Sri Alam
lam 3.107902, 101.458943
NO
DU HIGHWAY Li Shah Alam

APA nk
SH Toll
Setia Alam
Toll
Glenmarie
ELITE HIGH
Bukit Raja Toll
KLANG Setia Alam

Interchange
WAY
Jaya Top Glove Tower

Klang Parade
Jusco SHAH ALAM 16, Persiaran Setia Dagang
SUBANG JAYA
Setia Alam, Seksyen U13
RAL HI
GHWAY 40170 Shah Alam, Selangor D.E.
FEDE
Malaysia
AY Tel: +603-3362 3098

IGHW
AS H Fax: +603-3362 3860
KES

FORM OF PROXY
*I/We
NRIC/Passport/Company No.: Tel:
CDS Account No.: Number of Shares Held:
Address:
being a member of TOP GLOVE CORPORATION BHD (474423-X) hereby appoint:

1) Name of Proxy: NRIC/Passport No.:
Address:
Tel: Percentage of Shares Represented: %
2) Name of Proxy: NRIC/Passport No.:
Address:
Tel: Percentage of Shares Represented: %
or failing him/her, the CHAIRMAN OF THE MEETING, as my/our proxy to attend and vote for me/us, and on
my/our behalf at the Twentieth Annual General Meeting of the Company to be held at TG Grand Ballroom 1,
Level 9, Top Glove Tower of 16, Persiaran Setia Dagang, Setia Alam, Seksyen U13, 40170 Shah Alam,
Selangor Darul Ehsan, Malaysia on Tuesday, 8 January 2019 at 10:30 a.m. and at any adjournment thereof.
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 approve the declaration of the Single Tier Final Dividend of 5.0 sen per share.
2 To re-elect the Director, Dato’ Lee Kim Meow.
3 To re-elect the Director, Puan Sri Tong Siew Bee.
4 To re-elect the Director, Mr. Lim Hooi Sin.
5 To approve the payment of Directors’ Fees.
6 To approve the payment of Directors’ Benefits (excluding Directors’ Fees).
7 To re-appoint Messrs. Ernst & Young as Auditors of the Company.
SPECIAL BUSINESS
8 Authority to Issue Shares Pursuant to the Companies Act 2016.
9 Proposed Renewal of Share Buy-Back Authority.
10 Proposed Allocation of Awards to Ang Eng Li Andrea.
11 Proposed Allocation of Options to Ang Eng Li Andrea.
12 Proposed Adoption of New Constitution.
Signed on this day of 2018/2019
Signature of Member/Common Seal
Notes:
1. In respect of deposited securities, only members whose names 4. The instrument appointing a proxy shall be in writing under the
appear in the Record of Depositors on 31 December 2018 hand of the appointor or of his attorney duly authorised in writing
(General Meeting Record of Depositors) shall be eligible to attend or, if the appointor is a corporation, either under its seal or under
the Meeting. the hand of an officer or attorney duly authorised.
2. A member of the Company entitled to attend and vote at the 5. Where a member of the Company is an exempt authorised
Meeting is entitled to appoint not more than two (2) proxies to nominee which holds ordinary shares in the Company for
attend and vote in his stead. A proxy may but need not be a multiple beneficial owners in one (1) securities account (“omnibus
member of the Company and a member may appoint any person account”), there is no limit to the number of proxies which the
to be his proxy. There shall be no restriction as to the qualification exempt authorised nominee may appoint in respect of each
of the proxy. A proxy appointed to attend and vote at the Meeting omnibus account it holds.
shall have the same rights as the member to speak at the Meeting. 6. The instrument appointing a proxy must be deposited at the office
3. Where a holder appoints more than one (1) proxy, the of the Share Registrar, Securities Services (Holdings) Sdn. Bhd.
appointment shall be invalid unless he specifies the proportion of at Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar
his shareholdings to be represented by each proxy. Damansara, Damansara Heights, 50490 Kuala Lumpur, Wilayah
Persekutuan, Malaysia not less than forty-eight (48) hours before
the time appointed for holding the Meeting or at any adjournment
thereof.

Fold this flap for sealing
Then fold here
STAMP
The Share Registrar

TOP GLOVE CORPORATION BHD (474423-X)
c/o: Securities Services (Holdings) Sdn. Bhd.
Level 7, Menara Milenium
Jalan Damanlela, Pusat Bandar Damansara
Damansara Heights
50490 Kuala Lumpur, Malaysia
1st fold here

MEDIA HIGHLIGHTS

CORPORATE DIRECTORY
U.S.A. MARKETING OFFICE FACTORY 6 FACTORY 16L

TG Medical (U.S.A.) Inc., 180/3, Moo 7, Srisoontorn Road, 188, Moo 5, Tambol Pangla,
155, North Aspan Avenue, Tambon Srisoontorn, Amphur Amphur Sadao,
Azusa CA 91702 U.S.A. Thalang, Phuket 83110, Thailand. Songkhla 90170 Thailand.
Tel : +1-626-969-8808 Tel : +66-76-620 190-4 Tel : +66-74-410 888
Fax : +1-626-969-7823 Fax : +66-76-620 196 Fax : +66-74-410 886
E-mails : topglove@topgloveusa.com
FACTORY 7 FACTORY 17L
GERMANY SALES OFFICE 1 188, Moo 5, Karnchanawanich 268, Moo 5, Tambol Kampangphet,
Top Glove Europe GmbH, Road, Tambol Samnakkham, Amphur Rattaphum,
Bliersheimer Str. 80 A, Amphur Sadao, Songkhla 90320 Songkhla 90180 Thailand.
47229 Duisburg, Thailand. Tel : +66-74-302888
North Rhine-Westphalia, Germany. Tel : +66-74-410-000 Fax : +66-74-302889/302890
Tel : +49 (0) 2065 76421 0 Fax : +66-74-410 007/008
Fax : +49 (0) 2065 76421 19 FACTORY 18B & 18G
E-mail : info@topglove.de FACTORY 10 Lot 124 & 126, Jalan Lapan,
Lot 4970, Jalan Teratai, Batu 6, Kompleks Perabot Olak Lempit, 13 KM,
GERMANY SALES OFFICE 2 Off Jalan Meru, 41050 Klang, Jalan Banting Dengkil, 42700 Banting,
ulma International GmbH, Selangor D.E., Malaysia. Selangor D.E., Malaysia.
Pfaffenweg 35, Tel : +603-3392 9288/ Tel : +603-3149 1998
89231 Neu-Ulm, Germany. 9942/3320 Fax : +603-3149 3008
Tel : +49-731-926043-15 Fax : +603-3392 8984
Fax : +49-731-926043-10 FACTORY 19
E-mail : ulma@ulma.de FACTORY 11 Lot 4987, Jalan Bunga Raya, Batu 6,
Lot 4967, Jalan Teratai, Batu 6, Off Jalan Meru, 41050 Klang,
BRAZIL MARKETING OFFICE Off Jalan Meru, 41050 Klang, Selangor D.E., Malaysia.
Kevenoll Do Brasil Produtos Selangor D.E., Malaysia. Tel : +603-3392 5900
Medicos Hospitalares Ltda. Tel : +603-3392 1899/5399 Fax : +603-3392 5910
Rodovia Antonio Heil, 1001, KM 01
Complemento 203 FACTORY 12 FACTORY 19BF
Itaipava, Itajai SC Cep 88316-001 Lot 4960, Jalan Teratai, Batu 6, Lot 4987, Jalan Bunga Raya, Batu 6,
Brasil. Off Jalan Meru, 41050 Klang, Off Jalan Meru, 41050 Klang,
Tel : +5547 3349-6168 Selangor D.E., Malaysia. Selangor D.E., Malaysia.
E-mail : kevenoll@kevenoll.com.br Tel : +603-3392 3375 Tel : +603-7890 3319
Fax : +603-3392 5200
FACTORY 2 FACTORY 20 & 20BC
Lot 4968, Jalan Teratai, Batu 6, FACTORY 13 Lot 4988, Jalan Bunga Raya, Batu 6,
Off Jalan Meru, 41050 Klang, Lot 4947, Jalan Teratai, Batu 6, Off Jalan Meru, 41050 Klang,
Selangor D.E., Malaysia. Off Jalan Meru, 41050 Klang, Selangor D.E., Malaysia.
Tel : +603-3392 1992/1905 Selangor D.E., Malaysia. Tel : +603-3392 4211
Tel : +603-3393 1288 Fax : +603-3392 4200
FACTORY 3 Fax : +603-3393 1993
Lot 5091, Jalan Teratai, Batu 5, FACTORY 21
Off Jalan Meru, 41050 Klang, FACTORY 13P Lot 4989, Jalan Dahlia/KU8,
Selangor D.E., Malaysia. Lot 4946, Jalan Teratai, Batu 6, Kawasan Perindustrian Meru Timur,
Tel : +603-3392 7880/7350 Off Jalan Meru, 41050 Klang, 41050 Klang, Selangor D.E., Malaysia.
Fax : +603-3392 9160 Selangor D.E., Malaysia. Tel : +603-3392 4614/4642
Tel : +603-3885 3141 Fax : +603-3392 5068
FACTORY 4 Fax : +603-3393 1993
Lot 5987, Jalan Teratai, Batu 5, FACTORY 22
Off Jalan Meru, 41050 Klang, FACTORY 14 Lot 4990, Jalan Bunga Raya, Batu 6,
Selangor D.E., Malaysia. Lot 5104, Jalan Teratai, Batu 5, Off Jalan Meru, 41050 Klang,
Tel : +603-3392 8588/8996 Off Jalan Meru, 41050 Klang, Selangor D.E., Malaysia.
Fax : +603-3392 6788 Selangor D.E., Malaysia. Tel : +603-3392 1187/
Tel : +603-3392 3626 +603-7890 3322
FACTORY 5 & 5B Fax : +603-3392 1186
Lot 18, 27, 38 & 57, Medan Tasek, FACTORY 15
Kawasan Perindustrian Tasek, No. 4 Weiwu Road, FACTORY 23
31400 Ipoh, Perak D.R., Malaysia. Economic Development District, Lot 12, Medan Tasek,
Tel : +605-546 6360/547 9271 Xinghua City, Kawasan Perindustrian Tasek,
Fax : +605-547 8975 225700 Jiang Su Province, 31400 Ipoh, Perak D.R., Malaysia.
P. R. China. Tel : +605-545 5032
Tel : +86-523-8326 8976 Fax : +605-547 8975
Fax : +86-523-8326 8676

CORPORATE OFFICE, SETIA ALAM FACTORY OFFICE, KLANG (FACTORY 9)
Address : Level 21, Top Glove Tower, 16, Address : Lot 4969, Jalan Teratai, Batu 6,
Persiaran Setia Dagang, Setia Alam, Off Jalan Meru, 41050 Klang,
Seksyen U13, 40170 Shah Alam, Selangor D.E., Malaysia.
Selangor D.E., Malaysia.
Tel : +603-3392 1992/1905
Tel : +603-3362 3098 Fax : +603-3392 8410
Fax : +603-3362 3860
E-mails : (i) sales@topglove.com.my
(ii) invest@topglove.com.my
(iii) tgfoundation@topglove.com.my
Website : www.topglove.com
FACTORY 24 FACTORY 30 FACTORY 36

Lot 4986, Jalan Dahlia/KU8, Lot 4983 & 4984, Jalan Dahlia, 2, Jalan 8, Pengkalan Chepa 2
Kawasan Perindustrian Meru Timur, Kawasan Perindustrian Meru Timur, Industrial Zone,
41050 Klang, Selangor D.E., 41050 Klang, Selangor D.E., Malaysia. 16100 Kota Bharu,
Malaysia. Tel : +603-7890 3330 Kelantan D.N., Malaysia.
Tel : +603-3392 6010/0975 Fax : +603-3392 5066 Tel : +609 774 7171
Fax : +603-3392 0289 Fax : +609 771 3565/3072
FACTORY 31
FACTORY 25 Lot 6472, Lorong Sungai Puloh/KU06, FACTORY 37
PT 64593, Jalan Dahlia/KU8, Kawasan Perindustrian Sungai Puloh, PLO 5, Jalan Mahsuri 1,
Kawasan Perindustrian Meru Timur, 42100 Klang, Selangor D.E., Malaysia. 7.5 Km, Jalan Mersing
41050 Klang, Selangor D.E., Tel : +603-7890 3331 86007 Kluang, Johor D.T.,
Malaysia. Malaysia.
Tel : +603-3392 6317 FACTORY 33 Tel : +607 787 9731
Fax : +603-3392 6348 Lot 3726, Kawasan Perindustrian Nilai, Fax : +607 787 9733
Mukim Setul Daerah Seremban,
FACTORY 26 71800 Nilai, Negeri Sembilan D.K., FACTORY 38
Lot 4961, Jalan Teratai, Batu 6, Malaysia. 1, Jalan Hi-Tech 12,
Off Jalan Meru, 41050 Klang, Tel : +603-7890 3333 Zon Industri Fasa 3,
Selangor D.E., Malaysia. Kulim Hi-Tech Park, 09090 Kulim,
Tel : +603-3392 3375 FACTORY 34PM Kedah D.I., Malaysia.
Fax : +603-3392 5200 Lot 5, Jalan Paku 16/6, Tel : +604 401 9888
40000 Shah Alam, Fax : +609 771 3565
FACTORY 27 Selangor D.E., Malaysia.
Lot 2431 Mukim Port Dickson, Tel : +603-5519 1576 FACTORY 39DD
Sendayan, 71100 Siliau, Fax : +603-5510 0072 No. 36, Jalan Meru Indah 20,
Negeri Sembilan D.K., Malaysia. Taman Perindustrian Meru,
Tel : +606-651 4966/2043 FACTORY 35CD Off Persiaran Hamzah Alang,
Fax : +606-651 6896 Lot 5090, Jalan Teratai, Batu 5, 42200 Klang, Selangor, Malaysia.
Off Jalan Meru, 41050 Klang, Tel : +603-3392 3375
FACTORY 29 Selangor D.E., Malaysia Fax : +603-3392 5200
Lot 4985, Jalan Dahlia/KU8, Tel : +603-3392 7880
Kawasan Perindustrian Meru Timur,
41050 Klang, Selangor D.E.,
Malaysia.
Tel : +603-3392 6010

ANNUAL
REPORT
Exports to 2018
195 Countries Worldwide FINANCIAL YEAR ENDED
31 AUGUST 2018
North Europe
America
Asia
Africa
MALAYSIA
Latin
America
Oceania
Level 21, Top Glove Tower, 16, Persiaran Setia Dagang, Setia Alam, Seksyen U13,
40170 Shah Alam, Selangor D.E., Malaysia.
Tel : +603-3362 3098 Fax : +603-3362 3860 Mobile : +6012-2896 270
E-mail : sales@topglove.com.my / invest@topglove.com.my / tgfoundation@topglove.com.my
OVER
648
PRODUCTION
17,000
EMPLOYEES
LINES
40
FACTORIES
60.5
BILLION
GLOVES PER
ANNUM

World's Largest: Annual

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World's Largest: Annual

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ANNUAL

Incorporated in Malaysia ( Company No. : 474423-X )

NORTH AMERICA 25. HAITI EUROPE 77. NORWAY

104. ETHIOPIA 134. UGANDA 162. NEPAL 89. NEW ZEALAND

TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018 1

TAN SRI DR LIM WEE CHAI

VISION MISSION CORPORATE

QUALITY BUSINESS BUSINESS

2 TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018

PAGE PAGE PAGE

1 Export Markets 24 Enhancing 93 Directors’

22 Financial Highlights 89 Audit Committee 215 Media Highlights

TOP GLOVE’S GLOBAL OFFICES

TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018 3

27% VALUE ADD SDN BHD

4 TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018

100% ADVENTA HEALTH 100%

TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018 5

Our dreams may be big, but our resolve is strong. We

NEW LEVELS OF EXCELLENCE

MSWG - Asean Corporate Governance Award 2017

Winner of Malaysia’s Best The Edge Billion Ringgit Club 2017

Asia Pacific Entrepreneurship Malaysian Fujian Exemplary Winner: Manufacturing -

MSWG - Asean Corporate

TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018 7

REGISTERED & CORPORATE OFFICE STOCK EXCHANGE LISTING AUDITORS

8 TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018

OUR BUSINESS DIRECTION IS:

2 PUAN SRI TONG SIEW BEE 8 DATUK NORIPAH BINTI KAMSO

3 DATO’ LEE KIM MEOW 9 DATUK DR. NORMA MANSOR

4 TAN SRI RAINER ALTHOFF 10 SHARMILA

5 LIM CHEONG GUAN 11 TAY SEONG CHEE, SIMON

6 LIM HOOI SIN 12 DATO’ LIM HAN BOON

TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018 9

TAN SRI DR LIM WEE CHAI

10 TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018

TAN SRI DATO’ SERI UTAMA ARSHAD BIN AYUB

TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018 11

DATO’ LEE KIM MEOW

Date of Last Re-election : 6 January 2016

Board meetings attended : 7/7

Present Directorship(s) : Listed entity : Nil

12 TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018

TAN SRI RAINER ALTHOFF

Date of Last : 9 January 2018

Board meetings attended : 7/7

TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018 13

PUAN SRI TONG SIEW BEE LIM HOOI SIN

Nationality/ Age : Malaysian/ 60 Nationality/ Age : Malaysian/ 56

Past Appointment and Working Experience: Present Appointment(s) : Nil

14 TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018

LIM CHEONG GUAN DATO’ LIM HAN BOON

Nationality/ Age : Malaysian/ 53 Nationality/ Age : Malaysian/ 61

Length of Service : 12 years 3 months Length of Service : 7 years 9 months

TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018 15

DATUK NORIPAH BINTI KAMSO SHARMILA SEKARAJASEKARAN

Nationality/ Age : Malaysian/ 61 Nationality/ Age : Malaysian/ 50

Present Directorship(s) : Present Directorship(s) :

16 TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018

TAY SEONG CHEE, SIMON DATUK DR. NORMA MANSOR

Nationality/ Age : Singaporean/ 57 Nationality/ Age : Malaysian/ 61

TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018 17

18 TOP GLOVE CORPORATION BHD ANNUAL REPORT 2018

1 Export Markets 24 Enhancing 93 Directors’

22 Financial Highlights 89 Audit Committee 215 Media Highlights

27% VALUE ADD SDN BHD

100% ADVENTA HEALTH 100%

31.8.18 31.8.17 31.8.16 31.8.15 31.8.14 31.8.13