TopGlove - Integrated - Annual - Report - 2022 - Part 1

INTEGRATED
ANNUAL
REPORT
2022
Incorporated in Malaysia [Registration No.: 199801018294 (474423-X)] FINANCIAL YEAR ENDED
A Public Company Listed on the Main Market of Bursa Malaysia and Main Board of Singapore Exchange 31 AUGUST 2022
SCAN FOR TG SCAN FOR TG

INTEGRATED ANNUAL SUSTAINABILITY
A FOCUS ON
REPORT 2022 REPORT 2022
CUSTOMER CENTRICITY
2022 Key Highlights
6-YEAR FINANCIAL REVIEW
SHAREHOLDER MIX (MALAYSIA VS. FOREIGN) MARKET CAPITALISATION (RM BILLION)
The Group registered Compounded Annual Growth Rates (CAGR) for revenue and profit after tax of revenue: 20.3% and PAT AS AT 31 AUGUST 2022 (AS AT LAST TRADING DAY OF FINANCIAL YEAR END)
0.29%
15.5% respectively, since listing in 2001. 2017 7.1
2018 14.3
2022 2021 2020 2019** 2018** 2017**
Group (RM’000) (RM’000) (RM’000) (RM’000) (RM’000) (RM’000) 22.02% 2019 12.1
Malaysian Institution
40.68%
Malaysia Retail 2020 71.2
Revenue 5,572,349 16,361,443 7,237,427 4,801,139 4,220,742 3,409,176
Foreign Institution
Earnings Before Interest, Taxes, Depreciation & 2021 32.0
Foreign Retail 37.01%
Amortisation (EBITDA) 686,686 10,285,089 2,421,457 687,493 694,002 489,255 2022 6.4
Profit Before Taxation 358,424 10,033,813 2,165,551 423,588 522,800 393,402
Taxation 76,834 2,209,821 376,721 56,042 89,594 54,514
Profit After Tax 281,590 7,823,992 1,788,830 367,546 433,206 338,888 TOTAL EQUITY TOTAL NUMBER OF SHAREHOLDERS
(RM BILLION) AS AT 31 AUGUST 2022 CDS CDP
Profit Attributable to Owners of the Parent 225,564 7,710,327 1,752,584 364,678 428,830 339,023
Net Cash/(Borrowings) 315,604 1,743,037 2,342,651 (2,250,848) (1,960,042) (54,869) 2017 2.1 2017 13,329
Total Equity/Net Assets 6,793,235 7,220,160 6,190,883 2,554,141 2,398,396 2,072,791 2018 2.4 2018 15,260
Return on Equity (%) 4.0 131.3 36.0 14.4 18.0 16.4 2019 2.6 2019 28,523
Net Assets Per Share (sen)*# 69.7 73.3 60.0 33.0 31.1 27.4 2020 6.2 2020 60,104
Basic Earnings Per Share (sen)*# 2.8 95.9 21.9 4.8 5.6 4.5 2021 7.2 2021 136,309
Net Dividend (sen)* 1.2 65.1 11.8 2.5 2.8 2.4 2022 6.8 2022 144,054
Number of Shares in Issue (’000)*# 8,007,341 8,006,950 8,124,491 7,679,441 7,668,950 7,524,806 Total number of shareholders (based on CDS & CDP accounts)
as at 26 October 2022: 144,867
Share Price (RM)* ^
0.81 4.00 8.76 1.58 1.86 0.94
Market Capitalisation #^
6,445,909 32,027,801 71,170,541 12,133,517 14,264,247 7,073,318
OUR SHARE Share Price (RM) Volume Traded
(Million Shares)
* The comparative net assets per share, basic earnings per share, net dividend, number of shares in issue and share price have been restated to reflect the effect of PRICE
bonus issue on the basis of two new ordinary shares for every one existing ordinary share which was completed on 7 September 2020. 1,600
# Based on Company’s issued and paid up share capital, excluding treasury shares.
MOVEMENT 4.50
4.00 1,400
^ As at the last trading day of the financial year.
** Figures have been restated. 3.50 1,200
3.00
1,000
2.50
REVENUE EBITDA PROFIT BEFORE TAX PROFIT AFTER TAX 800
2.00
(RM Billion) (RM Billion) (RM Billion) (RM Billion) 600
1.50
1.00 400
2017 3.41 2017 0.49 2017 0.39 2017 0.34
0.50 200
2018 4.22 2018 0.69 2018 0.52 2018 0.43
0 0
2019 4.80 2019 0.69 2019 0.42 2019 0.37 Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug
2020 7.24 2020 2.42 2020 2.17 2020 1.79 2021 2021 2021 2021 2022 2022 2022 2022 2022 2022 2022 2022
2021 16.36 2021 10.29 2021 10.0 2021 7.82 Highest Share Price (RM) 3.90 2.86 3.19 2.81 2.50 2.35 2.06 2.05 1.67 1.37 1.04 1.01
2022 5.57 2022 0.69 2022 0.36 2022 0.28 Lowest Share Price (RM) 2.66 2.59 2.24 2.00 2.04 1.97 1.67 1.68 1.37 0.98 0.94 0.80
Total Volume Traded (Million) 748 300 728 688 317 338 653 332 462 1,240 984 1,431
EARNINGS PER SHARE NET CASH FLOWS TOTAL ASSETS CAPITAL EXPENDITURE
(sen) GENERATED FROM (RM Billion) (RM Billion)
OPERATIONS (sen)
2017 4.5 2017 0.38 2017 3.00 2017 0.48
DIVIDEND PAYOUT 65.1
For FY2022, Dividend of 1.20 sen was declared on 10 December 2021 14.1
2018 5.6 2018 0.34 2018 5.30 2018 0.46
51.0
2019 4.8 2019 0.53 2019 5.69 2019 0.62
2020 21.9 2020 3.46 2020 8.71 2020 0.82
2021 95.9 2021 7.83 2021 9.78 2021 1.36
Special Dividend (sen) 11.8
2.4 2.8 2.5 1.2
2022 2.8 2022 0.18 2022 8.12 2022 0.95
Ordinary Dividend (sen)
2017 2018 2019 2020 2021 2022
Total Dividend (RM million) 181.9 217.3 192.0 961.7 5,214.2 96.1
Payout Ratio (%) 54 51 53 55 68 43
Investor Relations Contact
All investors are welcome to contact the Investor Relations (IR) team directly at invest@topglove.com.my or visit the TOTAL DIVIDEND PAYMENT OF RM7.84 BILLION SINCE LISTING IN YEAR 2001
Investor Relations section on our website at https://www.topglove.com Note: The dividends have been restated to reflect the effect of bonus issue.
INTEGRATED ANNUAL REPORT 2022 1

About This Report Contents
HOW IT ALL FITS TOGETHER FORWARD-LOOKING
1 2022 Key Highlights
Statement of the Board of Directors of Top Glove STATEMENTS SECTION 5 CREATING
We measure our performance by evaluating how we create 2 About This Report
Corporation Bhd SUSTAINABLE VALUE
value for our key stakeholders, taking into account our This Report contains forward- 3 Contents
progress against our strategy, and by regularly measuring looking statements concerning 66 2022 Sustainability Highlights
returns on invested capital. We understand the risks we take our financial condition, results of 68 Environmental: Tackling Climate
The Board acknowledges its responsibility to ensure the
integrity of the Integrated Annual Report. In the Board’s and manage these to minimise their impact on our business operations and businesses. These Change and Restoring Nature
opinion, the Report addresses all material issues and and results. We pursue growth by building an organisation forward-looking statements are 74 Social: To Be a People Centric
matters and fairly presents the Group’s performance of
Quality
that empowers people and enriches communities. subject to a number of risks and Corporate Citizen
the financial year. uncertainties, many of which are and Cost 76 Governance: To Create Long Term
SCOPE AND BOUNDARY OF REPORTING
We Are Top Glove
beyond our control and all of which Efficiency are Value Through Ethical Business
Practices and Continuous
We are a global leader in healthcare manufacturing with Financial and non-financial reporting are based on our current beliefs and important
Stakeholder Engagement
continuous commitment to leveling up on our Environmental, This Report constitutes the Integrated Annual Report as expectations about future events.
Social and Governance practices and performance. defined in terms of Malaysian law and extends beyond Forward-looking statements are
For more information, please refer to page 4 financial reporting. It reflects on non-financial performance, typically identified by the use of SECTION 6 STRENGTH OF OUR
opportunities, risks and outcomes attributable to or forward-looking terminology such GOVERNANCE PRACTICES
Message from Our Leaders associated with key stakeholders who have a significant as “believes”, “expects”, “may”,
The world is our market where we export to more than 195 influence on our ability to create value. Our reporting “will”, “could”, “should”, “intends”, 78 Corporate Governance Overview
countries worldwide, enhancing the lives of consumers and SECTION 1 WE ARE TOP GLOVE
coverage is based on group-level disclosure unless stated “estimates”, “plans”, “assumes” Statement
ensuring safe protection globally. 105 Statement on Risk Management
otherwise. There is no significant change to our structure, or “anticipates”, or the negative
4 Our Business Overview
For more information, please refer to page 32 ownership and supply chain during the reporting year. Group thereof, or other variations thereon and Internal Control
5 Our Export Markets
reporting standards are continually being developed to make or comparable terminology, or by 6 Our Guiding Principles
How We Create Value disclosure meaningful and measurable for stakeholders. discussions of strategy that involve 7 Our Global Offices SECTION 7 OUR PERFORMANCE
For long term business sustainability and value creation, risks and uncertainties. These 8 Corporate Structure
we rigorously manage our assets and capital allocation MATERIALITY AND MATERIAL MATTERS
for growth, taking into account key market and trends. We
forward-looking statements and 10 International Quality Awards and 109 Directors’ Responsibility Statement
understand the importance of making a positive impact on We apply the principle of materiality in assessing what other statements contained in this Certifications 110 Directors’ Report
society while delivering performance and value to all our information to include in our Integrated Annual Report. This Integrated Annual Report regarding 12 Our Corporate Directory 118 Statement by Directors
stakeholders. Report focuses particularly on those issues, opportunities matters that are not historical facts 14 Corporate Information 118 Statutory Declaration
For more information, please refer to page 44 and challenges that impact materially on the Group as well as involve predictions. 119 Independent Auditors’ Report
124 Statements of Profit or Loss
on its ability to be a sustainable business that delivers value
SECTION 2 OUR PILLARS OF 125 Statements of Comprehensive
Creating Sustainable Value to key stakeholders, including our shareholders. No assurance can be given that
TRUST Income
Sustainability is at the heart of our business. We remain such future results will be achieved.
THE LEGISLATION AND FRAMEWORKS THAT INFORM 126 Statement of Financial Position
conscious of the impacts of our business and aspire to Actual events or results may differ
transition our business operations through refining and OUR REPORTING 15 Board of Directors 129 Statements of Changes in Equity
materially as a result of risks 132 Statements of Cash Flows
evolving our sustainability strategy and practices. 28 An Empowered Board
This Integrated Annual Report was prepared against local and uncertainties facing us and 136 Notes to the Financial Statements
For more information, please refer to page 66 29 Executive Committee
and global standards, including: our subsidiaries. Such risks and 30 Senior Management Team
uncertainties could cause actual
Strength of Our Governance • International Integrated Reporting Council (IIRC) Framework results to vary materially from the SECTION 8 OTHER INFORMATION
We understand the importance of effective oversight on and Sustainability Accounting Standards Board (SASB) future results indicated, expressed SECTION 3 MESSAGE FROM
strategy and risks. Risks taken are reviewed and assessed
• United Nations Sustainable Development Goals (SDGs) or implied in such forward-looking OUR LEADERS 227 List of Properties
carefully with measures to mitigate or minimise their impact
on our businesses. Our strong governance is integral to the
• Companies Act 2016 statements. 244 Analysis of Shareholdings
way we think and make decisions. • Malaysian Code on Corporate Governance 247 Notice of the 24th AGM
32 In Conversation with the Executive
• Main Market Listing Requirements (MMLR) The forward-looking statements 254 Administrative Details for the
For more information, please refer to page 78 Chairman Tan Sri Dr Lim Wee Chai
• Global Reporting Initiative (GRI) Standards: Core Option. 24th AGM
contained in the Integrated Annual 36 Letter to Stakeholders and
• FTSE4Good Bursa Malaysia Index Rating Guide 259 Proxy Form
Reporting Report speak only as of the date Management Discussion & Analysis
• Bursa Malaysia Sustainability Reporting Guidelines 3rd 261 Independent External Assurance
In line with best practice for Integrated Reporting, we report of the Report. We are not under
on the six (6) capitals that together, provide a true picture of
Edition Statement
any obligation to (and expressly
value across the Group. This way of telling a comprehensive, • Bursa Malaysia Corporate Governance Guide 4th Edition Section 4 HOW WE CREATE 264 GRI Content Index
disclaim any such obligation to)
connected story fits well with our holistic view of value and • Dow Jones Sustainability Index (DJSI) VALUE 270 SASB Content Index
our focus on creating sustainable value with responsibility in revise or update any forward-
• Morgan Stanley Capital International (MSCI) Global 271 Corporate Song
mind, for long-term good. looking statements to reflect
Standard Index
events or circumstances after the 44 The Market and Trends that Shape Us
For more information, please refer to page 54 • Sustainability-related indices criteria such as FTSE Russell 46 Stakeholder Engagement
ESG Ratings and Bloomberg Gender Equality Index date of the Report or to reflect
50 Materiality Assessment 2022 Navigating through the Integrated
• Task Force on Climate-related Financial Disclosures the occurrence of unanticipated
54 Our Value Creation Model Annual Report 2022
Framework events. We cannot give any 56 Our Business Strategies
Approved by the Board and acknowledged on behalf Informs where to find more information
• Ten Principles of the UN Global Compact assurance that forward-looking 58 Sustainability Strategy online.
of the Board by:
• Malaysian Financial Reporting Standards (MFRSs) statements will prove correct 62 Managing Our Risks and Informs which related pages to refer
TAN SRI DR • International Financial Reporting Standards (IFRSs) and investors are cautioned not Opportunities for more information.
LIM CHEONG GUAN
LIM WEE CHAI • Greenhouse Gas (GHG) Protocol to place undue reliance on any
Managing Director
2 Executive Chairman • Zoological Society of London SPOTT forward-looking statements. INTEGRATED ANNUAL REPORT 2022 3
1
SECTION 1 WE ARE TOP GLOVE
Our Business Overview Our Export Markets
Established in 1991 and headquartered in Malaysia, Top Glove Corporation Bhd which
started as a local business enterprise with 1 factory and 1 glove production line, has today
THE WORLD IS OUR MARKET
become the world’s largest manufacturer of gloves. The Company has manufacturing EXPORTS TO 195 COUNTRIES WORLDWIDE
operations in Malaysia, Thailand, Vietnam and China. It also has marketing offices
North America Europe (cont’d) Africa (cont’d) Asia (cont’d)
in these countries as well as USA, Germany and Brazil and exports to about 2,000
customers across 195 countries worldwide. 1. Canada 47. France 96. Gabon 147. Iraq
2. USA 48. Germany 97. Gambia 148. Israel
49. Greece 98. Ghana 149. Japan
Listed on the Kuala Lumpur Stock Exchange (2001) and Mainboard of the Singapore Exchange (2016), Top Glove has 50. Hungary 99. Guinea 150. Jordan
demonstrated steady growth with a compound annual growth rate (CAGR) of 20% for Revenue and 15% for Profit After Tax Latin America 51. Iceland 100. Ivory Coast 151. Kazakhstan
52. Ireland 101. Kenya 152. Kuwait
over the past 20 years. It is also a component stock of the MSCI Global Standard Index, FTSE Bursa Malaysia KLCI Index, 53. Italy 102. Lesotho
3. Antigua and Barbuda 153. Kyrgyzstan
FBM Top 100 Index, FBM Emas Index, FBM Hijrah Syariah Index, FBM Emas Syariah Index and the Dow Jones Sustainability 54. Kosovo 103. Liberia
4. Argentina 154. Laos
Index (DJSI) for Emerging Markets. 5. Bahamas 55. Latvia 104. Libya
155. Lebanon
6. Barbados 56. Liechtenstein 105. Madagascar
156. Macau
7. Belize 57. Lithuania 106. Malawi
Top Glove offers a comprehensive product range, which now includes a non-glove segment comprising condoms, face 157. Malaysia
8. Bolivia 58. Luxembourg 107. Mali
masks, dental dams, rapid test kits, exercise bands and household products, fulfilling demand in both the healthcare and 59. Macedonia, FYR 108. Mauritania 158. Maldives
9. Brazil 159. Mongolia
non-healthcare segment. 60. Malta 109. Mauritius
10. Chile 160. Myanmar
61. Moldova 110. Morocco
11. Colombia 161. Nepal
In line with its commitment to sustainability, Top Glove continues to level up its practices in the Environmental, Social and 62. Monaco 111. Mozambique
12. Costa Rica 162. Oman
63. Montenegro 112. Namibia
Governance (ESG) space. Top Glove launched its Sustainability Policy in June 2022, reaffirming the Group’s commitment to 13. Dominica 163. Pakistan
64. Netherlands 113. Niger
building a better future, community and planet for all. We believe in doing business in a sustainable and responsible manner 14. Dominican Republic
65. Norway 114. Nigeria 164. Palestine
across our value chain which will create long term positive value for our stakeholders and business. 15. Ecuador
66. Poland 115. Republic of Congo 165. Philippines
16. El Salvador 116. Reunion
67. Portugal 166. Qatar
17. Grenada 68. Romania 117. Rwanda
Our robust commitment and investment in sustainability was recognised both by our stakeholders and the industry. We 167. Saudi Arabia
18. Guatemala 69. Russia 118. Sao Tome and Principe
garnered double recognition with an improved performance on both the renowned Dow Jones Sustainability Indices (DJSI) 168. Singapore
19. Guyana 70. San Marino 119. Senegal 169. South Korea
2022 and FTSE Russell ESG Ratings in which we were ranked top 3% (as at 21 October 2022) and top 16% respectively 20. Haiti 71. Serbia 120. Seychelles 170. Sri Lanka
amongst industry peers and the healthcare sector. Top Glove was included in the Sustainablility Yearbook 2022 by S&P 21. Honduras 72. Slovakia 121. Sierra Leone 171. Syria
22. Jamaica 73. Slovenia 122. Somalia
Global with an Industry Mover distinction and the Bloomberg Gender Equality Index in year 2022. Top Glove was also named 172. Taiwan
23. Mexico 74. Spain 123. South Africa
Company of Year Overall Excellence in Sustainability and CSR 2022 under the manufacturing category at the Sustainability & 24. Nicaragua 173. Tajikistan
75. Sweden 124. Sudan
CSR Malaysia Awards 2022. 25. Panama 174. Thailand
76. Switzerland 125. Swaziland
26. Paraguay 175. Turkey
77. Ukraine 126. Tanzania
27. Peru 78. United Kingdom 127. Togo 176. Turkmenistan
Details of our stakeholder engagement, including stakeholder groups, the reason we engage, top 5 material 28. Puerto Rico 177. United Arab Emirates
128. Tunisia
matters concerned, engagement approaches, responses to concerns and value created can be found on page 46 29. Saint Lucia 129. Uganda 178. Uzbekistan
of this Integrated Annual Report. 30. Suriname Africa 130. Zambia 179. Vietnam
31. Trinidad and Tobago 131. Zimbabwe 180. Yemen
For detailed reporting of our annual ESG issues management and progress in FY2022, please refer to the 32. Uruguay 79. Algeria
Sustainability Report 2022. 33. Venezuela 80. Angola
81. Benin Asia Oceania
82. Botswana
Europe 83. Burkina Faso 132. Afghanistan 181. Australia
84. Burundi 133. Armenia 182. Fiji
34. Albania 134. Azerbaijan 183. Guam
85. Cameroon
35. Andorra 135. Bahrain 184. Kiribati
86. Cape Verde 136. Bangladesh 185. Marshall Islands
36. Austria
87. Central African Republic 137. Bhutan 186. Micronesia
37. Belarus
38. Belgium 88. Chad 138. Brunei 187. Nauru
39. Bosnia and Herzegovina 89. Comoros 139. Cambodia 188. New Caledonia
40. Bulgaria 90. Democratic Republic 140. China 189. New Zealand
41. Croatia of the Congo 141. Cyprus 190. Palau
42. Czech Republic 91. Djibouti 142. East Timor 191. Papua New Guinea
43. Denmark 92. Egypt 143. Georgia 192. Samoa
44. Estonia 93. Equatorial Guinea 144. Hong Kong 193. Solomon Islands
45. Faroe Islands 145. India 194. Tonga
Top Glove was established in 1991 with 1 Top Glove’s listing on the Kuala Lumpur Stock Top Glove’s secondary listing on the Main 94. Eritrea
46. Finland 146. Indonesia 195. Vanuatu
factory and 1 glove production line Exchange (now Bursa Malaysia) in 2001 Board of Singapore Exchange (SGX) in 2016 95. Ethiopia
4 TOP GLOVE CORPORATION BHD INTEGRATED ANNUAL REPORT 2022 5

1
Our Guiding Principles Our Global Offices
BUSINESS DIRECTION BUSINESS PHILOSOPHIES
1 We work for our customers
2 We take care of the interest of our shareholders

To Produce Consistently
High Quality Gloves At 3 We ensure that our employees continue to contribute positively
to the company and we take good care of the well-being of our
Efficient Low Cost
employees
4 We work closely with our bankers, suppliers, business associates,

government authorities and friends
QUALITY POLICY CORPORATE VALUES

[R.I.V.E.R.]
1 Quality and productivity are our business 1 Respect
2 Continuous improvement and innovation are our duties 2 Integrity

TAN SRI DR LIM WEE CHAI
Towards zero defects is our target 3 Value Executive Chairman
3
Top Glove Corporation Bhd
Compliance with customers’ and regulatory requirements is our 4 Empowerment
4
responsibility
5 Relationship
USA GERMANY CHINA VIETNAM
BUSINESS RULES BUSINESS ETHICS
1 Do not lose our shareholders’ money 1 Honesty
2 Do not lose our health 2 Integrity
3 Do not lose our temper 3 Transparency
4 Do not lose our customers
5 HEALTHY WELLS CUSTOMER CENTRICITY
1 Clean Well 4 Exercise Well 1 Quality
2 Eat Well 5 Sleep Well 2 Value
3 Work Well 3 Service
BRAZIL THAILAND MALAYSIA SINGAPORE INDONESIA

1
Corporate Structure Corporate Structure
TOP GLOVE SDN BHD

100%
(Malaysia)
FLEXITECH SDN BHD TOP GLOVE EUROPE GMBH
100% 97.5%
(Malaysia) (Germany)
100% EASTERN PRESS SDN BHD TG EXCELLENCE BERHAD GREAT GLOVE (XINGHUA) CO LTD TG MEDICAL (PUTIAN) CO LTD
100% 100% 100%
(Malaysia) (Malaysia) (China) (China)
TG FMT SDN BHD
70% TG MEDICAL SUZHOU CO LTD TG MEDICAL (XINGHUA) CO LTD
(Malaysia) 100% 100%
100% TG HEALTHCARE SDN BHD (China) (China)
(Malaysia) TG PORCELAIN SDN BHD
100% BESTSTAR ENTERPRISE LTD
(Malaysia) 100%
(BVI)
TGGD MEDICAL CLINIC SDN BHD
TG MEDICAL (U.S.A.), INC 75%
100% (Malaysia) B TECH INDUSTRY CO LTD
(USA) 100%
(Thailand)
TOP ACADEMY SDN BHD
100%
(Malaysia) GREAT GLOVE (THAILAND) CO LTD
74%
100% TG WORLDWIDE SDN BHD TOP BIOTECH SDN BHD (Thailand)
(Malaysia) 100%
(Malaysia) TOP GLOVE TECHNOLOGY (THAILAND) CO LTD
100%
TOP GLOVE CHEMICALS SDN BHD (Thailand)
100%
TOP GLOVE ENGINEERING SDN BHD (Malaysia)
100% TOP QUALITY GLOVES (THAILAND) CO LTD
(Malaysia) TOP GLOVE INTERNATIONAL SDN BHD 100%
100% (Thailand)
(Malaysia)
TOP GLOVE VIETNAM COMPANY LIMITED
TOP GLOVE PROPERTIES SDN BHD 100%
100% TOP GLOVE GLOBAL SDN BHD 100% (Vietnam)
(Malaysia) (Malaysia)
HEALTHY HOSTEL SDN BHD
VALUE ADD SDN BHD 100%
TOP GLOVE 27% (Malaysia)
(Malaysia)
CORPORATION BHD 100% TOP GLOVE LABUAN LTD Aerial view of Factory 38 in Kulim, Kedah.
(Malaysia) MEDI-FLEX PTE LTD
(Malaysia) 100%
(Singapore)
ADVENTA HEALTH SDN BHD
(Listed on the Main 61.54% 100%
100% TOP QUALITY GLOVE SDN BHD (Malaysia)
Market of Bursa TOP GLOVE MEDICAL (THAILAND) CO LTD
(Malaysia)
(Thailand) CYTOTEC (M) SDN BHD
Malaysia & Main 38.46% 100%
(Malaysia)
Board of Singapore
TOP GLOVE FOUNDATION*
Exchange) TOP HEALTHY FITNESS SDN BHD SENTIENX SDN BHD
(Malaysia) 100% 100%
TOP SYNTHETIC RUBBER SDN BHD TERANG NUSA SDN BHD

100% 100%
100% TG MEDICAL SDN BHD (Malaysia)
(Malaysia)
(Malaysia)
ULMA INTERNATIONAL GMBH
TG RAYTECH SDN BHD 100%
99.17% (Germany)
(Malaysia)
TERANG NUSA (MALAYSIA) SDN BHD
100%
(Malaysia)
GMP MEDICARE SDN BHD TG ECOMMERCE SDN BHD
100% 100%
2%
GREAT GLOVE (MALAYSIA) SDN BHD TG MEDITECH SDN BHD
100% 100% Aerial view of Factory 9 and its surrounding factories in Meru, Klang.
PURNABINA SDN BHD
95.2%
TOP FEEL SDN BHD DURAMEDICAL SDN BHD (Malaysia)
100% 85%
ASPION SDN BHD SUIZZE HEALTH LTD 99.9%

100% 100% KEVENOLL DO BRASIL
(Malaysia) (Hong Kong)
0.1% (Brazil)
BEST ADVANCE RESOURCES LIMITED 99.99%
100% PT. AGRO PRATAMA PT. TOP GREEN
(Labuan) PT. TOPGLOVE INDONESIA
95% SEJAHTERA 60% FORESTRY
TOP CARE SDN BHD GREEN RESOURCES LIMITED (Indonesia)
100% 100% 0.01% (Indonesia) (Indonesia)
(Malaysia) (Labuan)
TG EFFICIENT SDN BHD
Notes: 100%
(Malaysia)
1. Top Glove has in total 63 companies within the Group.
2. * Top Glove Foundation is a member of Top Glove Group.

1
International Quality Awards And Certifications International Quality Awards And Certifications
NEW LEVELS OF EXCELLENCE

We are honoured to be conferred notable awards, certifications and recognitions
both at the industry and international level. These accolades motivate us to set
our bar higher to perform better and strive for greater efficiencies.
2022 The Star Export Excellence Awards 2021 2019

The Edge Billion Ringgit Club 2022 • Gold: Consumer Products Category The BrandLaureate Iconic Brands of the Graduates’ Choice Award 2019
• Highest Return on Equity Over 3 Years by The Star Media Group, Malaysia Decade Award 2019 • Winner: Best Employer Brand (Category: Manufacturing)
(Healthcare Sector) • Category: Manufacturing-Gloves by Talentbank
by The Edge National Energy Awards 2022 (NEA) by The World Brands Foundation (TWBF)
• Merit Award: Category 1: Energy Management in MSWG-Asean Corporate Governance Award 2018
Sustainability & CSR Malaysia Awards 2022 Large Industry: Top Glove Factory 30 Highly Commended: Healthiest Workplace
• Winner: Company of Year Overall Excellence in • Industry Excellence Award (Healthcare)
by the Ministry of Energy and Natural Resource by AIA Vitality 2019 by MSWG
Sustainability and CSR (Manufacturing category)
by CSR Malaysia The Star Export Excellence Awards 2019
Employee Experience Awards 2022
• Gold: Best First Time Manager Programme • Silver Award: Other Industries Category CSR Malaysia Awards 2019
Australasian Reporting Awards 2022 • CSR Malaysia Company of the Year 2019
• Bronze General Award • Gold: Best Employer Branding by The Star Media Group, Malaysia
• Gold: Best Succession Planning (Category: Manufacturing of Gloves)
by Australasian Reporting Awards Limited by CSR Malaysia
• Gold: Best Learning and Development Programme Winner: Five Petal BEIM Gold Ethics Award 2019
Graduates’ Choice Awards 2022 • Silver: Best Rewards and Recognition Programme by Business Ethics Institute of Malaysia (BEIM)
• Winner: Best Employer Brand (Category: Manufacturing) • Silver: Best In-House Learning Academy The 100 Most Influential Young Entrepreneurs 2019
by Talentbank by Human Resources Online • (Category: Lifetime Achievement Award)
Malaysia’s 100 Leading Graduate Employers 2019
• Winner: Manufacturing (Chemical & Heavy by Entrepreneur Insight
Industries Most Popular Graduate Recruiter 2019)
2021 MIRA Investor Relations Awards 2021 2020 by GTI Media The Golden Brick Award 2019
• Best Company for IR (Large Cap) • (Category: Lifetime Achievement)
• Best Quality of Annual Reports Best Companies To Work For In Asia 2020 by the Hokkien Association of Malaysia
by Malaysian Investor Relations Association (MIRA) Best Companies To Work For In Asia 2019
by HR Asia by HR Asia
Malaysia’s 100 Leading Graduate Employers 2021 National Cooperative Education Awards 2019
• Winner: Most Preferred Employer Prime Minister’s Hibiscus Award (PMHA) 2019/2020 Human Resources Excellence Awards 2019 (Thailand)
• Winner: Heavy Industry & Engineering • Notable Achievement in Environmental Performance • Excellence in Talent Management (Bronze)
by GTI Media by Malaysian International Chamber of Commerce & by Human Resources Online
Industry (MICCI)
The Edge Billion Ringgit Club 2021 HR Excellence Awards 2020 Malaysia
• Highest Growth in Profit After Tax over 3 years
(Category: Big Cap Companies with RM10bn to
• Gold Award: Excellence in Leadership
Development Category
2012 to 2018 1991 to 2011
RM40bn) • Silver Award: Excellence in Talent Management
by The Edge Category
GRADUAN Brand Awards 2021 • Silver Award: Most People-Focused CEO Category
• Winner: Most Preferred Employer (Category: • Bronze Award: Excellence in Corporate Wellness
Manufacturing Industry) Category
by GRADUAN by Human Resources Online
Clarivate South and Southeast Asia Innovation The Edge Billion Ringgit Club 2020
Awards 2021 • Highest Returns to Shareholders Over Three
• Winner: Corporations Category (3) Years Award (Category: The Super Big Cap
by Clarivate Companies more than RM40bn)
by The Edge Malaysia
MSWG: Top 100 Companies For CG Disclosure
2020
by Minority Shareholders Watch Group (MSWG) The Edge Billion Dollar Club 2020
• Highest Returns to Shareholders Over Three (3)
HR Excellence Awards 2021 Malaysia Years Award (Category: Healthcare Services &
• Silver: Excellence in Talent Management Pharmaceutical sector)
• Silver: Excellence in Total Rewards Strategy by The Edge Singapore
• Silver: Excellence in Corporate Wellness
• Bronze: Employer of the Year Winner: International Innovation Awards 2020
by Human Resources Online • Top Eco Rubber, Top Grip Thermoplastic Elastomer
(TPE) Glove, Finessis (Category: Product)
HRD Awards Asia 2021 by The International Innovation Awards® (IIA)
• Winner: Best Leadership Development
Programme
• Excellence Award: Best Learning & Winner: CSR-Department of Industrial
Development Programme Works (DIW) Awards 2020
by CSR DIW Award
Accolades, Recognitions & Certifications
by Key Media
The Edge Billion Dollar Club 2021 National Energy Awards 2020 (NEA) One of four Malaysian companies which made it to the
• Winner: Best Performing Stock, Fastest • Winner: Category 1: Energy Efficiency; Energy
Growing Company, Best in Sector and Overall 2022 Bloomberg Gender Equality Index
Management in Large Industry: Top Glove Factory 29
Winner; Category: Healthcare Services and by the Ministry of Energy and Natural Resource Inclusion in the Morgan Stanley Capital International
Pharmaceutical sector (MSCI) Global Standard Index since 2018
by The Edge MSWG-Asean Corporate Governance Award 2019 Inclusion in The Sustainability Yearbook 2022 by
• Industry Excellence Award (Healthcare) S&P Global with an Industry Mover distinction. The
Graduates’ Choice Awards 2021 • ASEAN Asset Class Company is one of 53 Industry Movers in the 2022
• Winner: Best Employer Brand (Category: by MSWG Yearbook. Forest Stewardship Council (FSC) Chain of Custody
Manufacturing) certification for our latex concentrate Factory 16L in
by Talentbank Asia Recruitment Awards 2020 Thailand
• Category: Best Use of Recruitment Technology The only Malaysian company being included in the
Employee Experience Awards 2021 Malaysia
• Bronze: Best Employer Branding Tools (Silver) Dow Jones Sustainability Index (DJSI) Emerging
by Human Resources Online by Human Resources Online Markets in 2020

1
Our Corporate Directory Our Corporate Directory
MALAYSIA OFFICES AND FACTORIES
FACTORY 21 & 21RBD FACTORY 34PM

PERAK KELANTAN
Lot 4989, Jalan Dahlia/KU8, Kawasan Lot 5, Jalan Paku 16/6,
Perindustrian Meru Timur, 41050 Klang, 40000 Shah Alam, Selangor D.E., Malaysia.
FACTORY 5 & 5B FACTORY 36
Selangor D.E., Malaysia. Tel : +603 5519 1576 Lot 18, 27, 38 & 57, Medan Tasek, 2, Jalan 8, Pengkalan Chepa 2
Te : +603 3392 4614/5166/4642 Fax : +603 5510 0072 Kawasan Perindustrian Tasek, Industrial Zone, 16100 Kota Bharu,
+603 7890 3321 31400 Ipoh, Perak D.R., Malaysia. Kelantan D.N., Malaysia.
FACTORY 35A, 35CD & 35FM
Tel : +605 546 6360/+605 547 9271 Tel : +609 774 7171
FACTORY 22 Lot 5090, Jalan Teratai, Batu 5, Fax : +605 547 8975
Lot 4990, Jalan Bunga Raya, Batu 6, Off Jalan Meru, 41050 Klang, Fax : +609 774 7757
Off Jalan Meru, 41050 Klang, Selangor D.E., Malaysia. FACTORY 5C
Selangor D.E., Malaysia. Tel : +603 3392 7880/7350 Lot 7, Medan Tasek, KEDAH
Tel : +603 7890 3322 Kawasan Perindustrian Tasek,
Fax : +603 3392 1186 FACTORY 39/Duramedical 31400 Ipoh, Perak D.R., Malaysia. FACTORY 38
Lot 4962, Jalan Teratai, Tel : +605 546 6360/+605 547 9271 Lot 7, Jalan Hi-Tech 12,
FACTORY 24 Batu 6, Off Jalan Meru, Fax : +605 547 8975 Zon Industri Fasa 3,
Lot 4986, Jalan Dahlia/KU8, 41050 Klang, Selangor D.E., Malaysia. 09090 Kulim Hi-Tech Park,
CORPORATE OFFICE, SETIA ALAM FACTORY OFFICE, KLANG (FACTORY 9) FACTORY 23
Kawasan Perindustrian Meru Timur, Tel : +603 7890 3339 Lot 12, Medan Tasek, Kedah D.A., Malaysia.
Address : Level 21, Top Glove Tower, Address : Lot 4969, Jalan Teratai, 41050 Klang, Selangor D.E., Tel : +603 7890 3338
Kawasan Perindustrian Tasek,
16, Persiaran Setia Dagang, Batu 6, Off Jalan Meru, Malaysia. FACTORY 40 31400 Ipoh, Perak D.R., Malaysia.
Setia Alam, Seksyen U13, 41050 Klang, Tel : +603 3392 6010/0975 Lot 67330, Lorong Bougainvillae/KU8, Tel : +605 545 5032 JOHOR
40170 Shah Alam, Selangor D.E., Malaysia. Fax : +603 3392 0289 Kawasan Perindustrian Meru Timur, Fax : +605 547 8975
Selangor D.E., Malaysia. Tel : +603 3392 1992/1905 41050 Klang, Selangor D.E., Malaysia. FACTORY 37AB
FACTORY 25 Tel : +603 7890 3340
Tel : +603 3362 3098 Fax : +603 3392 9848 NEGERI SEMBILAN No. 2 & 6, Jalan Mahsuri 1,
PT 64593, Jalan Dahlia/KU8,
Fax : +603 3362 3860 Factory 43GM Kawasan Perindustrian Kluang 1,
Kawasan Perindustrian Meru Timur, FACTORY 27
Email : sales@topglove.com.my Lot 5054, Jalan Dahlia/KU8, 86000 Kluang, Johor D.T., Malaysia.
41050 Klang, Selangor D.E., Malaysia. Lot 2431 Mukim Port Dickson,
invest@topglove.com.my Kawasan Perindustrian Meru Timur, Tel : +607 787 9731
Tel : +603 3392 6341/6317 Sendayan, 71100 Siliau,
tgfoundation@topglove.com.my 41050 Klang, Selangor D. E., Malaysia. Fax : +607 787 9733
Fax : +603 3392 6348 Negeri Sembilan D.K., Malaysia.
Website : https://www.topglove.com Tel : +603 3392 1992 Tel : +603 7890 3327 FACTORY 37CD
FACTORY 25ACB
Fax : +603 3392 1291 Fax : +606 651 6896 No. 7, Jalan Mahsuri 1,
Lot 5144, Jalan Dahlia KU8,
Kawasan Perindustrian Kluang 1,
FACTORY 13 Kawasan Perindustrian Meru, Factory 44SL FACTORY 33
SELANGOR Lot 3726, Kawasan Perindustrian Nilai, 86000 Kluang, Johor D.T., Malaysia.
Lot 4947, Jalan Teratai, Batu 6, Mukim Kapar, 41050 Klang, Lot 2604, 2605, 2615 & 2616,
Mukim Setul Daerah Seremban, Tel : +607 787 9815/+603 3362 3098
Off Jalan Meru, 41050 Klang, Selangor D.E., Malaysia. Mukim Tanjung Dua Belas,
FACTORY 2 71800 Nilai, Negeri Sembilan D.K., Fax : +607 787 9736
Lot 4968, Jalan Teratai, Batu 6, Selangor D.E., Malaysia. Daerah Kuala Langat,
FACTORY 26 Malaysia.
Off Jalan Meru, 41050 Klang, Tel : +603 3393 1288 42700 Banting, Selangor D.E., Malaysia.
Lot 4961, Jalan Teratai, Batu 6, Tel : +603 7890 3333
Selangor D.E., Malaysia. Fax : +603 3393 1993
Off Jalan Meru, 41050 Klang,
Tel : +603 3392 1992/1905 FACTORY 13P Selangor D.E., Malaysia.
Tel : +603 3392 3375 INTERNATIONAL OFFICES AND FACTORIES
FACTORY 3 Lot 4946, Jalan Teratai, Batu 6,
Off Jalan Meru, 41050 Klang, Fax : +603 3392 5200
Lot 5091, Jalan Teratai, Batu 5,
Off Jalan Meru, 41050 Klang, Selangor D.E., Malaysia. THAILAND GERMANY VIETNAM
FACTORY 29
Selangor D.E., Malaysia. Tel : +603 3885 3141
Lot 4985, Jalan Dahlia/KU8,
Tel : +603 3392 7880/7350 FACTORY 14 Kawasan Perindustrian Meru Timur, FACTORY 6 GERMANY SALES OFFICE 1 FACTORY 41
Fax : +603 3392 9160 Lot 5104, Jalan Teratai, Batu 5, 41050 Klang, Selangor D.E., Malaysia. 180/3, Moo 7, Srisoontorn Road, Top Glove Europe GmbH, Land Lot A_8B_CN,
Off Jalan Meru, 41050 Klang, Tel : +603 3392 6010 Tambon Srisoontorn, Amphur Bliersheimer Str. 80 A, Bau Bang Industrial Park,
FACTORY 4 Thalang, Phuket 83110, Thailand. 47229 Duisburg, Germany. Lai Uyen Town, Bau Bang District,
Lot 5987, Jalan Teratai, Batu 5, Selangor D.E., Malaysia.
FACTORY 30 Tel : +66 76 620 190 Tel : +49 (0) 2065 76421 0 Binh Duong Province, Vietnam.
Off Jalan Meru, 41050 Klang, Tel : +603 3392 3626
Lot 4983 & 4984, Jalan Dahlia, Fax : +66 76 620 196 Fax : +49 (0) 2065 76421 19 Tel : +84 274 380 3725/3744
Selangor D.E., Malaysia. FACTORY 18B & 18G Kawasan Perindustrian Meru Timur, Email : info@topglove.de
Tel : +603 3392 8588/8996 Lot 124 & 126, Jalan Lapan, 41050 Klang, Selangor D.E., Malaysia. FACTORY 7 & 8A USA
Fax : +603 3392 6788 Kompleks Perabot Olak Lempit, Tel : +603 7890 3330 188, 189, 190 Moo 5, Karnchanawanich GERMANY SALES OFFICE 2
13 KM, Jalan Banting Dengkil, Road, Tambol Samnakkham, Ulma International GmbH U.S.A. MARKETING OFFICE
FACTORY 10 FACTORY 31 Amphur Sadao, Songkhla 90320 Pfaffenweg 35, 89231 Neu-Ulm, Germany. TG Medical (U.S.A.) Inc.,
Lot 4970, Jalan Teratai, Batu 6, 42700 Banting,
Lot 6472, Lorong Sungai Puloh/KU06, Thailand. Tel : +49 731 926043 15 155, North Aspan Avenue,
Off Jalan Meru, 41050 Klang, Selangor D.E., Malaysia.
Kawasan Perindustrian Sungai Puloh, Tel : +66 74 410 000 Fax : +49 731 926043 10 Azusa CA 91702 U.S.A.
Selangor D.E., Malaysia. Tel : +603 3149 1998
42100 Klang, Selangor D.E., Malaysia. Fax : +66 74 410 007/008 Email : ulma@ulma.de Tel : +1 626 969 8808
Tel : +603 3392 9288/9942/3320 Fax : +603 3149 3008
Tel : +603 7890 3331 Fax : +1 626 969 7823
Fax : +603 3392 8984 FACTORY 19 & 19BF FACTORY 16L Email : topglove@topgloveusa.com
FACTORY 32 CHINA
Lot 4987, Jalan Bunga Raya, Batu 6, 188, Moo 5, Tambol Pangla,
FACTORY 11 Lot 4981 & 4982, Jalan Dahlia, Amphur Sadao,
Off Jalan Meru, 41050 Klang, FACTORY 15 BRAZIL
Lot 4967, Jalan Teratai, Batu 6, Kawasan Perindustrian Meru Timur, Songkhla 90170 Thailand.
Off Jalan Meru, 41050 Klang, Selangor D.E., Malaysia. No. 4 Shazhuang Road,
41050 Klang, Selangor D.E., Malaysia. Tel : +66 74 410 888
Tel : +603 3392 5900/+603 3392 1992 Economic Development District, BRAZIL MARKETING OFFICE
Selangor D.E., Malaysia. Tel : +603 7890 3332 Fax : +66 74 410 886
Fax : +603 3392 5910 Xinghua City, Kevenoll do Brasil Produtos
Tel : +603 3392 1899/5399 Fax : +603 3392 1291/8410 Médicos Hospitalares Ltda,
FACTORY 20 & 20BC FACTORY 17L 225700 Jiang Su Province,
FACTORY 12 P. R. China. Rodovia Antônio Heil,
Lot 4988, Jalan Bunga Raya, Batu 6, 268, Moo 5, Tambol Kampangphet,
Lot 4960, Jalan Teratai, Batu 6, Tel : +86 523 8326 8976 1001 – KM01,
Off Jalan Meru, 41050 Klang, Amphur Rattaphum,
Off Jalan Meru, 41050 Klang, Sala 203 - Itaipava,
Selangor D.E., Malaysia. Songkhla 90180 Thailand. Fax : +86 523 8326 8676
Selangor D.E., Malaysia. Itajaí, Santa Catarina,
Tel : +603 3392 4211/+603 7890 3322 Tel : +66 74 302 888 88316-001 Brazil.
Tel : +603 3392 3375 Fax : +66 74 302 889/302 890 Tel : +55 (47) 3390 8800/3349 6168
Fax : +603 3392 5200
Email : kevenoll@kevenoll.com.br

1
SECTION 1 WE ARE TOP GLOVE SECTION 2 OUR PILLARS OF TRUST
2
Corporate Information Board of Directors
REGISTERED & CORPORATE OFFICE STOCK EXCHANGE LISTING

OUR VISION
Level 21, Top Glove Tower Main Market of Bursa Malaysia Securities Berhad To be your world class partner in gloves and
16, Persiaran Setia Dagang Stock Code : 7113
healthcare products
Setia Alam, Seksyen U13 Stock Name : TOPGLOV
40170 Shah Alam Listing Date : 27 March 2001
Selangor D.E., Malaysia
Tel. : +603 3362 3098 Main Board of Singapore Exchange Securities Trading Limited
Fax : +603 3362 3860 Stock Code : BVA OUR MISSION
Email : (i) sales@topglove.com.my Stock Name : Top Glove Ensuring safe human protection globally
(ii) invest@topglove.com.my Listing Date : 28 June 2016
(iii) TG@whistleblower.com.my
(iv) media@topglove.com.my ADR Programme
Website : https://www.topglove.com (Depository Receipt Programme) USA
ADR Symbol : TGLVY
AUDITORS SENIOR INDEPENDENT REGISTRAR IN MALAYSIA

NON-EXECUTIVE DIRECTOR
Ernst & Young PLT Securities Services (Holdings) Sdn Bhd
202006000003 Sharmila Sekarajasekaran Level 7, Menara Milenium
(LLP0022760-LCA) & AF 0039 Tel : +603 3362 3098 Jalan Damanlela
Chartered Accountants Email : sharmila@topglove.com.my Pusat Bandar Damansara
Level 23A, Menara Milenium Damansara Heights
Jalan Damanlela 50490 Kuala Lumpur, Malaysia 1 Tan Sri Dr Lim Wee Chai 2 Lim Cheong Guan 3 Lim Hooi Sin 4 Ng Yong Lin
Pusat Bandar Damansara SHARE TRANSFER AGENT IN Tel. : +603 2084 9000
50490 Kuala Lumpur, Malaysia SINGAPORE Fax : +603 2094 9940
+603 2095 0292
Boardroom Corporate & Advisory
Email : info@sshsb.com.my
Services Pte. Ltd.
CHARTERED SECRETARIES
1 Harbourfront Avenue
Chua Siew Chuan #14-07 Keppel Bay Tower
SSM PC No.: 201908002648 Singapore 098632
MAICSA No.: 0777689 Tel. : +65 6536 5355
Fax : +65 6438 8710
Chin Mun Yee Email : SRS.TeamC@boardroomlimited.com
SSM PC No.: 201908002785
MAICSA No.: 7019243 Sharmila
5 Dato’ Lee Kim Meow 6 7 Datuk Noripah Kamso 8 Datuk Dr. Norma Mansor
PRINCIPAL BANKERS Sekarajasekaran
Lim Keat See
1. BNP Paribas Malaysia Berhad 10. OCBC Bank (Malaysia) Berhad
SSM PC No.: 201908001159
2. CIMB Bank Berhad 11. Public Bank Berhad
MAICSA No.: 7020290
3. Citibank Berhad 12. Siam Commercial Bank Public
Tel. : +603 3362 3098
4. Deutsche Bank (Malaysia) Berhad Company Limited
Email : kslim@topglove.com.my
5. Hong Leong Bank Berhad 13. Standard Chartered Bank
6. Industrial and Commercial Bank of Malaysia Berhad
China (Malaysia) Berhad 14. Sumitomo Mitsui Banking
7. Malayan Banking Berhad Corporation Malaysia Berhad
8. Mizuho Bank (Malaysia) Berhad 15. United Overseas Bank (Malaysia)
9. MUFG Bank (Malaysia) Berhad Berhad
9 Azrina Arshad 10 Martin Giles Manen 11 Dato’ Kong Sooi Lin 12 Dr Ngo Get Ping

SECTION 2 OUR PILLARS OF TRUST
2
Board of Directors Board of Directors
TAN SRI DR LIM WEE CHAI LIM CHEONG GUAN

Executive Chairman Managing Director
Qualifications: Qualifications:
• Bachelor of Science Degree in Physics with Honours from University of Malaya,
• Member of Malaysian Institute of Certified Public Accountants since 1994
Malaysia, 1982
• Master of Business Administration from Sul Ross State University, Texas, United • Member of Malaysian Institute of Accountants since 1993
States of America, 1985 • Bachelor of Accounting, University of Malaya, Malaysia, 1990
• Doctor of Philosophy in Management from University of Selangor, Malaysia, 2015
• Honorary Doctorate in Business Administration from Oklahoma City University, United
Present Directorship(s):
States of America, 2016
• Honorary Doctorate in Entrepreneurship from Management & Science University, • Listed entity:
Malaysia, 2018 Nil
• Honorary Doctor of Philosophy (PhD) Degree in Business Management from University
of Cyberjaya, Malaysia, 2020 • Other public company:
• Honorary Professor from University of Cyberjaya, Malaysia, 2020 Nil
• Honorary Doctorate in Management from University of Cyberjaya, Malaysia, 2021
Present Directorship(s): Present Appointment(s):
• Listed entity: • Head of the Sustainability Steering Group since 2019
Nil
• Chairman of the Risk Management Committee since 2014
• Other public company:
Trustee of Top Glove Foundation • Advisor to the Administrative Committee of Top Glove Foundation since
Present Appointment(s): 2008
• President Emeritus since 2019 and Council Member of the Federation of Malaysian
NATIONALITY Manufacturers since 2010 NATIONALITY Past Appointment(s) and Working Experience:
Malaysian • Honorary President of the Associated Chinese Chambers of Commerce and Industry Malaysian Mr Lim Cheong Guan began his career as a Graduate Audit Trainee with
AGE/GENDER of Malaysia (ACCCIM) since 2017
• Life Honorary Advisor of the Federation of Chinese Associations Malaysia since 2011 AGE/GENDER Price Waterhouse (now known as PricewaterhouseCoopers PLT) in April
64/Male 57/Male
• Life Honorary President of the Federation of Hokkien Associations of Malaysia since 2017 1990 and subsequently held various key positions in a number of public
DATE OF APPOINTMENT • Honorary President of the Kuala Lumpur and Selangor Chinese Chamber of Commerce
DATE OF APPOINTMENT listed companies in Malaysia whose business activities spanned over
4 September 2000 and Industry (KLSCCCI) since 2017
• Honorary President of the Malaysia-China Chamber of Commerce since 2012 31 August 2006 manufacturing, plantation, trading and property development.
(Founder)
• Honorary President of the Lim Association of Malaysia since 2018 DATE OF RE-DESIGNATION AS
LENGTH OF SERVICE
• Honorary Fellow of lnstitut Fizik Malaysia (IFM) since 2019
(AS AT 11 NOVEMBER 2022) MANAGING DIRECTOR
• Tzu Chi Foundation Commissioner and Volunteer since 2017
22 years 2 months • Director of Kuen Cheng High School since 2008
1 August 2022
DATE OF LAST RE-ELECTION Past Appointment(s) and Working Experience: LENGTH OF SERVICE
8 January 2020 Tan Sri Dr Lim has been actively involved in many associations and organisations in (AS AT 11 NOVEMBER 2022)
BOARD COMMITTEE(S) Malaysia. He was the Chairman in 2019 and Non-Independent Non-Executive Director 16 years 2 months
(AS AT 11 NOVEMBER 2022) of Tropicana Corporation Berhad from 2017 to January 2022 as well as the Director and
Board Member of the Employees Provident Fund from 2015 to 2020. He was also the DATE OF LAST RE-ELECTION
ESOSC ESGPC President of the Federation of Malaysian Manufacturers (FMM) in 2016/17. He served 8 January 2020
as the Director and Board Member of University of Malaya from 2015 to 2018, Council
BOARD COMMITTEE(S)
Note: He is a healthy vegetarian. Member of the East Asia Business Council (EABC) from 2011 to 2015, and Director of
(AS AT 11 NOVEMBER 2022)
the Association of Malaysian Medical Industries (AMMI). In addition, he was a Board
Member of the Malaysian Rubber Board from 1998 to 1999 and also the President of the ESOSC ESGPC
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 (7) years.
Meeting Attendance in FY2022: Meeting Attendance in FY2022:
Family Relationship with any Director(s) and/or Substantial Shareholder(s) of
the Company:
BOD Spouse of Puan Sri Tong Siew Bee and brother of Mr Lim Hooi Sin, both are indirect BOD
Substantial Shareholders of the Company. Mr Lim Hooi Sin is also a Director of the
8/8 8/8
Company. Tan Sri Dr Lim is also the father of Mr Lim Jin Feng.
Board Committee Board Committee Board Audit Board Risk and Board Nomination and Board Sustainability Employees Share Option Employees Share Grant
Board Committee Key: BAC BRIC BNRC BSC ESOSC ESGPC
Chairman Member Committee Investment Committee Remuneration Committee Committee Scheme Committee Plan Committee

2
LIM HOOI SIN NG YONG LIN

Executive Director Executive Director
Qualifications: Qualification:
• Charter Financial Consultant Diploma from American College, Pennsylvania, • Bachelor of Engineering Degree, Computer Aided Design and Manufacture
United States of America, 1995 from University of Malaya, 2009
• Master of Business Administration (Specialised in Applied Statistics) from
Arizona State University, United States of America, 1986 Present Directorship(s):
• Bachelor of Science Degree in Management Science from Oklahoma State
• Listed entity:
University, United States of America, 1985
Nil
Present Directorship(s): • Other public company:
• Listed entity: Nil
Nil
• Other public company: Present Appointment(s):
Nil Nil
Present Appointment(s): Past Appointment(s) and Working Experience:

Nil Mr Ng Yong Lin was appointed as the Chief Operating Officer in September
2021.
Past Appointment(s) and Working Experience:
Mr Lim Hooi Sin spent fourteen (14) years of his career with MetLife Financial
Services, one of the largest insurance and financial services companies in Mr Ng joined the Group in June 2009 as a Manufacturing Engineer.
NATIONALITY the USA. Prior to this appointment, he was a Management Trainee, Associate NATIONALITY Subsequently, he was promoted to Senior Manager, Technical Assistant to
Malaysian Branch Manager, Regional Marketing Specialist, Agency Director and a Director Malaysian Chairman in April 2016, Deputy General Manager, Technical Assistant to
AGE/GENDER of Asian Markets. His experiences include product development, marketing, AGE/GENDER Chairman in April 2017, General Manager, Technical Assistant to Chairman
60/Male recruiting, training and supervision of a large highly productive sales force. He 37/Male in April 2018, Senior General Manager, Technical Assistant to Chairman in
DATE OF APPOINTMENT was previously a Director of AAAA (Arizona Asian American Association).
DATE OF APPOINTMENT February 2019, Director, Joint Manufacturing Council in February 2020,
4 September 2000
He has more than twenty (20) years of experience in the USA glove market, 1 August 2022 Executive Director (subsidiary level), Joint Manufacturing Council in February
LENGTH OF SERVICE
having been the founder of TG Medical (U.S.A.), Inc. (a wholly-owned subsidiary LENGTH OF SERVICE 2021, prior to his appointment as the Chief Operating Officer in September
of the Company) in 1994 and served as its Executive Vice President from 2001 (AS AT 11 NOVEMBER 2022) 2021.
22 years 2 months
to 2005 and President since 2005. He is also the Administrator (President) of 3 months
DATE OF LAST RE-ELECTION Kevenoll Do Brasil (a wholly-owned subsidiary of the Company) since 2019 and
6 January 2022 sits on the Board of several private limited companies. DATE OF LAST RE-ELECTION
BOARD COMMITTEE(S) Nil
(AS AT 11 NOVEMBER 2022) Family Relationship with any Director(s) and/or Substantial Shareholder(s) BOARD COMMITTEE(S)
Nil of the Company: (AS AT 11 NOVEMBER 2022)
Brother of Tan Sri Dr Lim Wee Chai, a Director and Substantial Shareholder of the
Company and brother-in-law of Puan Sri Tong Siew Bee, an indirect Substantial
Nil
Shareholder of the Company.
BOD BOD
8/8 1/1

2
DATO’ LEE KIM MEOW SHARMILA SEKARAJASEKARAN

Non-Independent Non-Executive Director Senior Independent Non-Executive Director
• Bachelor of Law Degree from University of London, United Kingdom, 1991 • Barrister-At-Law, Middle Temple, United Kingdom since 1996
• Bachelor of Commerce Degree from University of New South Wales, Australia • Advocate & Solicitor, High Court of Malaya, Malaysia since 1998
majoring in Accounting, Finance and Systems, 1983
• B.A. Law & Economics (Honours), Keele University, United Kingdom, 1993
Present Directorship(s): • Adjudicator, Asian International Arbitration Centre (Malaysia) (formerly Kuala
• Listed entity: Lumpur Regional Centre for Arbitration)
Nil
• Other public companies: Present Directorship(s):
i. Trustee of Top Glove Foundation • Listed entity:
ii. Trustee of Malaysian Rubber Council Kumpulan Perangsang Selangor Berhad
• Other public company:
Present Appointment(s):
Nil
• Chairman of the Asean Rubber Glove Manufacturers Association (ARGMA)
since 2013
• Council Member of the Klang Chinese Chamber of Commerce & Industry
(KCCCI) since 2018 • Independant Non-Executive Director of Kumpulan Perangsang Selangor
Berhad since September 2021.
Past Appointment(s) and Working Experience: • Consultant in the Legal, Operations and Industry Development Departments
Prior to joining Top Glove in 1997, Dato’ Lee has more than fifteen (15) years of of the RIM Group since January 2015
NATIONALITY experience in the financial services, trading and manufacturing business having NATIONALITY
Malaysian • Partner of Jerald Gomez & Associates since 2011, areas of practice are
worked in established financial institutions and with a well-known conglomerate Malaysian
Intellectual Property, Banking Litigation, Corporate Advisory, Estate Claims
AGE/GENDER with diversified interest in the ASEAN region.
AGE/GENDER and Family Law matters
63/Male
53/Female
DATE OF APPOINTMENT In the past twenty-two (22) years, Dato’ Lee has been actively contributing to
the development of the rubber glove industry in Malaysia as well as the ASEAN DATE OF APPOINTMENT Past Appointment(s) and Working Experience:
15 October 2003
region. 18 March 2015 Ms Sharmila began her career as a legal assistant in year 1998 with Messrs.
DATE OF RE-DESIGNATION AS
DATE OF RE-DESIGNATION AS Chooi & Co., and joined Messrs. Tay & Partners as a Senior Legal Assistant in
NON-INDEPENDENT NON-
He has served for seventeen (17) years as a Board Member of the Malaysian the Intellectual Property Department in 2004.
EXECUTIVE DIRECTOR SENIOR INDEPENDENT NON-
Rubber Export Promotion Council (MREPC) from 2002 to 2016 and from 2018
1 August 2022 EXECUTIVE DIRECTOR
to 2021. He was a Board Member of the Malaysian Rubber Board (MRB) and the
LENGTH OF SERVICE 6 January 2022 She joined the RIM Group in 2005 and held various positions in the RIM Group.
Tun Abdul Razak Research Centre (TARRC) from 2010 to 2011 as well as a Past
(AS AT 11 NOVEMBER 2022) President of the Malaysian Rubber Glove Manufacturers Association (MARGMA) LENGTH OF SERVICE
19 years from 2009 to 2011. He was also the Chairman of the Organising Committee of the (AS AT 11 NOVEMBER 2022)
DATE OF LAST RE-ELECTION International Rubber Glove Conference and Exhibition (IRGCE) in 2014 and 2016. 7 years 7 months
6 January 2022
DATE OF LAST RE-ELECTION
BOARD COMMITTEE(S) Dato’ Lee was the Managing Director of Top Glove from April 2009 to July 2022. 6 January 2021
BOARD COMMITTEE(S)
BRIC BNRC (AS AT 11 NOVEMBER 2022)
BSC BAC BNRC ESOSC ESGPC
BOD BOD BSC BAC BNRC

8/8 8/8 6/6 10/10 7/7

2
DATUK NORIPAH KAMSO DATUK DR. NORMA MANSOR

Independent Non-Executive Director Independent Non-Executive Director
• Master of Business Administration from Marshall University, Huntington, West • Doctor of Philosophy (PhD) from University of Liverpool, 1985
Virginia, United States of America, 1981 • Master of Public Administration (MPA) from University of Liverpool, 1981
• Bachelor of Science Degree from Northern Illinois University, Dekalb, Illinois,
• Bachelor of Economics (Honours) Degree from University of Malaya, 1980
United States of America, 1980
• Diploma in Business Studies, Institute Technology MARA, Malaysia, 1978
Present Directorship(s): • Listed entity:
• Listed entity: Nil
Swift Haulage Berhad • Other public company:
• Other public company: Nil
DXN Holdings Berhad
Present Appointment(s): • Director of Yayasan MEA since 2018
• Independent Non-Executive Director of Swift Haulage Berhad since June 2021
• President of Malaysian Economic Association since 2019
• Senior Independent Non-Executive Director of DXN Holdings Berhad since
February 2022 • Director of Social Wellbeing Research Centre of University of Malaya since
• Chairman of Arabesque Malaysia since August 2022 October 2012
• International Advisory Board of Islamic Finance News (IFN) • Member of Minimum Wages Council since October 2017
• Corporate Advisor of Pantas Software Sdn Bhd • Member of Employment Insurance System Board since January 2018
NATIONALITY NATIONALITY
Malaysian Past Appointment(s) and Working Experience: Malaysian Past Appointment(s) and Working Experience:
AGE/GENDER Datuk Noripah began her career with Urban Development Authority (UDA) in 1980. Datuk Norma was a professor at the Faculty of Economics and Administration
AGE/GENDER
65/Female In 1983, she joined Bank of Commerce (M) Berhad (CIMB Group) and held various
65/Female of University of Malaya from 2000 to 2017. She held the position as the
DATE OF APPOINTMENT key positions in the CIMB Group until 2014 where her last position was as Advisor
to CIMB Group Islamic Banking Division. She was formerly an Adjunct Professor DATE OF APPOINTMENT Executive Director of International Institute of Public Policy and Management
18 March 2015
to School of Economics, Finance and Banking, UUM and the Board of Trustees of 12 May 2017 from 2001 to 2004 and was subsequently appointed as Dean of the Faculty of
LENGTH OF SERVICE
the International Council of Islamic Finance Educators (ICIFE). Economics and Administration from 2004 to 2009.
(AS AT 11 NOVEMBER 2022) LENGTH OF SERVICE
7 years 7 months (AS AT 11 NOVEMBER 2022)
She was the Chief Executive Officer of CIMB Futures Sdn Bhd from 1996 to 2012, Her past appointment includes the Ragnar Nurkse Visiting Professor of the
DATE OF LAST RE-ELECTION 5 years 5 months
the Chief Executive Officer of CIMB Principal Asset Management Berhad from
6 January 2021 DATE OF LAST RE-ELECTION School of Innovation and Governance at Tallinn University of Technology in
2005 to 2013. She was the founding Chief Executive Officer of CIMB Principal
BOARD COMMITTEE(S) Islamic Asset Management Sdn Bhd from 2008 to 2012 where she successfully 6 January 2021 Estonia in 2014. She was also seconded to the Prime Minister’s Department
(AS AT 11 NOVEMBER 2022) established a global platform for the firm to extend its reach to UK, Europe, GCC, as Secretary to the National Economic Advisory Council (NEAC) from 2009 to
BOARD COMMITTEE(S)
Asia, USA and Australia. Datuk Noripah was a former Advisor of CIMB Islamic (AS AT 11 NOVEMBER 2022) 2011.
BRIC BAC
from 2013 to 2014.
ESOSC ESGPC BNRC BRIC
Datuk Noripah was also the Past President of the Malaysian Futures Brokers
Association (MFBA). She was formerly a Global Practitioner in Residence in ESOSC ESGPC
Principal Financial Group Centre for Global Citizenship, USA in 2015. In the
academic year 2016/2017, she was a Fellow in Islamic Finance in Oxford Center for
Islamic Studies (OCIS), an independent centre of the University of Oxford, United
Kingdom and was an Adjunct Professor for Faculty of Business Management,
UiTM. She was the Chairman of Bank Kerjasama Rakyat Malaysia (being one of
the Top 10 largest Islamic Banks in the world) and the Chairman of Yayasan Bank
BOD BRIC BAC BSC Rakyat from 2018 to 2020. BOD BNRC BRIC
8/8 7/7 10/10 4/4 8/8 7/7 7/7

2
AZRINA ARSHAD MARTIN GILES MANEN

• Post Graduate Diploma in Architecture (LAM, PAM, RIBA Part II), Oxford • Member of the Malaysian Institute of Certified Public Accountants, 1980
Brookes University, United Kingdom, 1992 • Member of the Malaysian Institute of Accountants,1988
• Diploma in Architecture (LAM, PAM, RIBA Part I), Universiti Institut Teknologi
MARA, Malaysia, 1990 • Listed entity:
Bermaz Auto Berhad
Present Directorship(s): • Other public companies:
• Listed entity: i. BOS Wealth Management Malaysia Berhad (formerly known as Pacific
Nil Mutual Fund Berhad)
• Other public company: ii. Hong Leong MSIG Takaful Berhad
Trustee of Yayasan Arshad Ayub
Present Appointment(s): • Independent Non-Executive Director of Bermaz Auto Berhad since November
2020
• Project Director of Zalaraz Sdn Bhd since 2010
• Independent Non-Executive Director of Channel Micron Holdings Company
• Director and Partner of I-Partnership (M) Sdn Bhd (formerly known as Woods Limited since September 2020
Bagot (M) Sdn Bhd) since 1997 • Independent Non-Executive Director of BOS Wealth Management Malaysia
• Freelance Project Architect & Project Manager of FOCUS Architects and Berhad (formerly known as Pacific Mutual Fund Berhad) since 2019
Urban Planners Sdn Bhd since 2015 • Independent Non-Executive Chairman and Director of Hong Leong MSIG
NATIONALITY NATIONALITY Takaful Berhad since 2018
Malaysian Malaysian • Independent Trustee of HBSACM Foundation (an approved charitable
AGE/GENDER Director and Partner of I-Partnership (M) Sdn Bhd (formerly known as Woods foundation set up by the Harvard Business School Alumni Club of Malaysia)
AGE/GENDER
53/Female since 2015
Bagot (M) Sdn Bhd) since year 1997. Puan Azrina started her career in 1993 as 67/Male
DATE OF APPOINTMENT
an Assistant Architect in Arca-3 Arkitek Sdn Bhd, Kuala Lumpur and thereafter DATE OF APPOINTMENT Past Appointment(s) and Working Experience:
8 January 2019
worked in various capacities in several architectural firms such as FOCUS 25 January 2022 Mr Manen was an Independent Non-Executive Director from August 2008 to
LENGTH OF SERVICE
Architects and Urban Planners Sdn Bhd in Selangor. She was also a part-time May 2021 and Chairman of the Audit and Risk Management Committee from
lecturer in Universiti Technology Malaysia (UTM) in year 1994. November 2010 to May 2021 of Heineken Malaysia Berhad and an Independent
3 years 10 months (AS AT 11 NOVEMBER 2022)
Non-Executive Director from July 2009 to April 2018 and Chairman of the Audit
DATE OF LAST RE-ELECTION 9 months
and Risk Management Committee from November 2009 to April 2018 of Unisem
6 January 2022 Puan Azrina was appointed as a Non-Independent and Non-Executive Director DATE OF LAST RE-ELECTION (M) Berhad. Mr Manen held various positions at Sime Darby Berhad from 1986
BOARD COMMITTEE(S) of Sanichi Technology Berhad from January 2010 to August 2011. She was Nil to 2007, including as an Executive Director from May 2001 to January 2005.
(AS AT 11 NOVEMBER 2022) the Founder and Director of The Teapot Café Sdn Bhd from 1996 to 2012 and Prior to joining Sime Darby Berhad, he worked in the audit, tax and advisory
BOARD COMMITTEE(S)
The Teapot Deli since 11 February 2016. She has given talks organised by the (AS AT 11 NOVEMBER 2022) departments of KPMG in Kuala Lumpur and London between 1975 and 1985.
BNRC BSC
American Hardwood Export Council in Guangzhou and Chengdu in 2005.
BAC BRIC BSC Mr Manen has held independent non-executive directorships in other public
companies, including in Hong Leong Investment Bank Berhad from July 2009 to
ESOSC ESGPC July 2019.
BOD BAC BNRC BSC BOD BAC BRIC BSC

8/8 6/6 7/7 6/6 5/5 4/4 5/5 4/4

2
DATO’ KONG SOOI LIN DR NGO GET PING

• Bachelor of Commerce (Honours), University of New South Wales, 1985 • Doctorate of Philosophy in Metallurgy from University of Oxford, United
• Fellow Membership of Certified Practising Account Australia since 2017 Kingdom, 1985
• Chartered Banker of the Asian Institute of Chartered Bankers since 2017 • Bachelor of Science (Structural Engineering) from University of Sussex, United
• Chartered Accountant of the Malaysian Institute of Accountants since 2019 Kingdom, 1981
Present Directorship(s): • Listed entity:
• Listed entities: OSK Ventures International Berhad
i. AMMB Holdings Berhad • Other public company:
ii. Ecoworld International Berhad Nil
iii. IOI Corporation Berhad Present Appointment(s):
• Other public company: • Independent Non-Executive Director of OSK Ventures International Berhad
AmInvestment Bank Berhad since 2017
Dr Ngo Get Ping is an Independent Non-Executive Director (“INED”) of OSK
• Independent Non-Executive Director of AMMB Holdings Berhad since Ventures International Berhad since 2013 and was redesignated as Senior
30 October 2019 Independent Non-Executive Director in 2017. He is the Chairman of both Risk
• Independent Non-Executive Director of Ecoworld International Berhad since Management Committee and Nomination and Remuneration Committee as well
1 April 2019 as a Member of Audit Committee.
• Independent Non-Executive Director of IOI Corporation Berhad since
NATIONALITY 16 February 2022 NATIONALITY Dr Ngo was an engineer of Intraco (Singapore) Pte Ltd, a Soil Specialist
Malaysian • Independent Non-Executive Director of AmInvestment Bank Berhad since Malaysian [Singapore Engineering Firm from 1985 to 1986. Then, he joined Government Investment of
AGE/GENDER 30 October 2019 Permanent Resident] Singapore (GIC) as Investment Officer from 1986 to 1987. He was an Associate
61/Female Director of Sales in Equity Department of James Capel (Singapore) Pte Ltd
AGE/GENDER
from 1988 to 1994 and Senior Vice President of Singapore/Malaysia Investment
DATE OF APPOINTMENT Past Appointment(s) and Working Experience: 64/Male Bank operation at Nomura Research Institute (Singapore) Pte Ltd from 1994 to
9 March 2022 Dato’ Kong began her career with Ernst & Whinney (now known as Ernst & Young)
DATE OF APPOINTMENT 1996. Thereafter, he joined CLSA (Singapore) Pte Ltd as an Executive Director
and Arthur Anderson & Co. and then joined Bumiputra Merchant Bankers Berhad and Deputy Country Head for Singapore and Malaysia covering Securities and
LENGTH OF SERVICE 9 March 2022
under Corporate Banking in 1989. Corporate Banking.
8 months (AS AT 11 NOVEMBER 2022)
In 1994, she joined CIMB Investment Bank Berhad (“CIMB Investment Bank”) Dr Ngo has held independent non-executive Directorships in Malaysia and
DATE OF LAST RE-ELECTION and had been with CIMB Group Holdings Berhad (“CIMB Group”) for twenty-five 8 months Singapore companies including RHB Merchant Bank Division and Board of RHB
Nil (25) years until her retirement from CIMB Investment Bank as its CEO in March DATE OF LAST RE-ELECTION Asset Management Bhd, both in Malaysia and Singapore operations and FDCS
BOARD COMMITTEE(S) 2019. Throughout her tenure with CIMB Group, Dato’ Kong has contributed Nil (Singapore) Pte Ltd.
(AS AT 11 NOVEMBER 2022) significantly to entrenching CIMB as one of the top investment banking houses BOARD COMMITTEE(S)
Nil domestically and across ASEAN. Dr Ngo served as the Chairman of both the Risk Management Committee
and Nomination and Remuneration Committee as well as a Member of Audit
Committee at OSK Holdings Bhd, Chairman of Risk Management Committee
Dato’ Kong has held various capacities within CIMB Group including Group Head BNRC
and Member of both Nomination and Remuneration Committee and Audit
of Investment Banking Division for Asia Pacific region, Group Head of Private Committee for OSK Property Bhd and Chairman of both Audit Committee and
Banking, Head of Senior Bankers Group, Chairperson of CIMB Private Limited Meeting Attendance in FY2022: Nomination and Remuneration Committee at Tiong Nam Logistics Holdings
Sri Lanka and Commissioner on the Board of CIMB Securities Indonesia. Berhad. He was the Chairman of Nomination and Remuneration Committee
and Member of both the Audit Committee and Risk Management Committee of
BOD BNRC
She was formerly an Independent Director of Malaysia Venture Capital Ezra (Singapore) Ltd. He was also a Member of both the Audit Committee and
Management Berhad. 2/3 1/1 Nomination and Remuneration Committee of Medi-Flex Pte Ltd, a wholly owned
Meeting Attendance in FY2022: subsidiary of Top Glove in Singapore.
BOD
Note:
2/3
Save as disclosed, all other Directors have no family relationship with any Director(s) and/or Substantial Shareholder(s) of the Company, have
no conflict of interest with the Company, have not been convicted of any offence within the past five (5) years other than traffic offences, if
any, and have no public sanction or penalty imposed by the relevant regulatory bodies during the financial year.

2
An Empowered Board Executive Committee
The Executive Committee is headed by the Executive Chairman, Tan Sri Dr Lim Wee Chai and consist of the following key
Length of Tenure The current composition of Board Members comprised appropriate mix
senior management:
(As at 11 November 2022) of Skills and Experience as follows:
8 Current Board Skillset

Board Average
Rating
Accounting and financial reporting

4 1 77%
Corporate governance, risk management and

internal controls
2 75%
Former Chief Executive Officer/Managing Director

Up to 9 years More than 9 years
3 75%
Nationality International or regional business exposure

4 74%
12
Public sector or governmental body experience
(From Left to Right):
5 72%
Lim Jing Feng, Melissa Cheoh Hooi Gaik, Ng Yong Lin, Lim Cheong Guan, Tan Sri Dr Lim Wee Chai (centre), Lim Hooi Sin,
Lew Sin Chiang, Hue Kon Fah, Aaron Lam Yat Hing
Legal and regulatory
6 72%
Please refer to pages 16, 17, 18 and 19 of this Integrated Annual Report for the profiles of Tan Sri Dr Lim Wee Chai, Lim Cheong Guan,
Sustainability Lim Hooi Sin and Ng Yong Lin.
0
7 71%
MELISSA CHEOH HOOI GAIK AARON LAM YAT HING
Malaysian Foreigner Industry experience Director, Financial Controller Director, Marketing
8 68% Nationality Qualification(s) Nationality Qualification(s)

Malaysian MBA (London), International Business Malaysian Diploma in Material Engineering
Composition
Operations and Quality Management Age Experience Age Experience
49 More than 25 years of experience in the banking 56 More than 20 years of experience in the
9 68%
and finance industry marketing field
Gender Gender
7 Human capital or talent management Female Date of Appointment Male Date of Appointment
15 May 2019 17 January 2011
10 66%
4 HUE KON FAH LEW SIN CHIANG LIM JIN FENG
Information technology or digital strategy
Executive Director (Subsidiary), Senior General Manager, Deputy General Manager, Marketing
11 63%
1 Joint Manufacturing Council Joint Manufacturing Council
0 % 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Nationality Qualification(s) Nationality Qualification(s) Nationality Qualification(s)
Malaysian BA (Honours) Economics, Malaysian Bachelor of Science, Malaysian Bachelor of Science in
Please refer to page 85 of this Integrated Annual Report for further details on
MMIM, DPRIM Industrial Chemistry Business Administration
ED NINED ID Board Balance, Composition and Diversity. Age Age Age International Business
65 Experience 49 Experience 35 Option
More than 39 years More than 20 years of
Gender Ethnicity Age Gender of experience in the Gender experience in the glove Gender Experience
Male manufacturing field Male manufacturing industry Male More than 10 years of
experience in the glove
Date of Appointment Date of Appointment manufacturing industry
1 1 9 January 2003 16 March 1998
Date of Appointment
17 January 2011
3 3 Note: Note:
5 7 7 Mr Lew is the brother in-law of both Tan Sri Dr Mr Lim Jin Feng is the son of Tan Sri Dr Lim
8 Lim Wee Chai and Puan Sri Tong Siew Bee. Wee Chai and Puan Sri Tong Siew Bee.
1 Notes:
Save as disclosed in the profile of Board of Directors and above, 3. any conflict of interest with the Company;
none of the key senior management has: 4. any conviction for offences (other than traffic offences) within the
1. any directorship in public companies and listed issuers; past five (5) years; and
Female Male Chinese Indian Malay Others 30 to 49 50 to 59 60 to 69 2. any family relationship with any directors and/or major 5. any public sanction or penalty imposed by the relevant regulatory
shareholders of the Company; bodies during the financial year.

2
Senior Management Team Senior Management Team
Hue Kon Fah Aaron Lam Yat Hing Lew Sin Chiang Jeremy Liew Say Keong Lim Hwa Chuan John Wu Kin Yeap Chookiad Usaha
Melissa Cheoh Hooi Gaik
Executive Director (Subsidiary), Director, Senior General Manager, Senior General Manager, Senior General Manager, Senior General Manager, Senior General Manager,
Director, Financial Controller
Joint Manufacturing Council Marketing Joint Manufacturing Council Finance Joint Manufacturing Council Manufacturing Manufacturing
Leong Chew Mun Michelle Ang Peck Kean Tan Boon Kuie Ken Soo Johnny Loy Joo Ling Matthew Ong Guan Heng Chen Chew Lan Ravi A/L Supramaniam
Senior General Manager, General Manager, Senior General Manager, Senior General Manager Senior General Manager, Senior General Manager, General Manager, General Manager,
Marketing Sourcing & Procurement Marketing cum Assistant to Chairman Marketing Compliance Finance Manufacturing
Tan Kian Guan Noor Akilah Saidin Jack Lim Lung Fui Ong Ah Chye Loo Sun Nooi Dr. Kiwi Lim Keuw Wei Tan Chee Hoong Puon Tuck Seng
General Manager, General Manager, General Manager, General Manager, General Manager, General Manager, General Manager,
Regulatory Affairs System & General Manager,
Information Technology Conformance and Corporate Integrity Internal Audit Manufacturing Group Quality Assurance Research & Development Manufacturing Operation Audit
Dorothy Ressel Ng Seow Wei Chan Siew Lan Kelvin Lee Kok Seng Stephanie Thong Pei Ling Kassy Lim Keat See Chang Chee Keong Chong Fei Meng
V.P. Global Marketing & Sales, General Manager, General Manager, General Manager, General Manager, General Manager, General Manager, General Manager,
Member of the Management Board Manufacturing Finance Manufacturing Property & Leasing Corporate Services Tax Marketing
Lim Jin Feng Wilawan Sakulsongboonsiri Tan Lee Sem Chia Hock Yi Norhazlin Hamzah Daryl Ooi Keat Leong Florence Teng Gaik Kim Phattaraporn Fueangthong
Deputy General Manager, Deputy General Manager, Deputy General Manager, General Manager, Deputy General Manager, Deputy General Manager, General Manager, Deputy General Manager,
Marketing Finance Marketing Engineering Marketing Group Human Resources Logistics & PM Purchasing Finance
Izzati Nazreen Bt. Ahmad Tajudin Ho Kim Nam Aileen Choh Ai Ying Michelle Voon Wei-Ann Siah Ming Lei Loh Xzee Ling Mansor Bin Daud
Thomas Buri
Deputy General Manager, Deputy General Manager, Vice President, Deputy General Manager, Senior Manager, Deputy General Manager, Deputy General Manager,
National Sales Manager
Manufacturing Manufacturing Marketing Corporate Communications Marketing Group Human Resources Engineering

3
SECTION 3 MESSAGE FROM OUR LEADERS
In Conversation with the Executive Chairman In Conversation with the Executive Chairman
Tan Sri Dr Lim Wee Chai
Tan Sri Dr Lim Wee Chai
As the world emerges from the shadow of

the pandemic, the glove industry now finds
Q1
Top Glove’s financial performance in FY2022 is considerably softer compared with FY2021. What factors
itself traversing a period of great volatility. account for the subdued set of numbers?
Quite undeterred, Tan Sri Dr Lim Wee Chai,
This is one of the most challenging times the glove industry has experienced. As the world moves toward endemicity, we
Executive Chairman of Top Glove remains are also transitioning to normality while contending with several simultaneously occurring headwinds. During this adjustment
cautiously optimistic and upbeat on the period, we have had to manage glove oversupply arising from new capacity, along with the effects of excess stockpiling
industry’s long-term outlook. He tackles by customers during the pandemic. As a result, orders have slowed considerably, alongside a corresponding downtrend in
average selling prices (ASPs). Moreover, owing to lower utilisation, there has been no urgency on the part of customers to
the tough questions squarely, telling it place sizeable orders, while some are also adopting a “wait and see” approach in anticipation of a further decline in ASPs.
like it is; while displaying his trademark
positivity, providing clarity and certainty in Meanwhile, our operating costs continued to escalate on the back of global supply chain disruptions, as well as increases
in natural gas tariff over the course of FY2022 and the Malaysian minimum wage which took effect in May 2022. A lower
these murky, uncertain times. utilisation rate has also meant our unit costs are higher. We were unable to pass these cost increases on to customers amidst
the ongoing oversupply situation, impacting our bottom line.
Although difficult, this is a temporary situation which we must go through as

we move toward a post pandemic era. We believe the glove demand/supply
situation will equilibrate in time to be more reflective of our business and the
sector’s true potential, both of which remain very promising in the longer term.
Q2
What plans has Top Glove instituted to better navigate this challenging season for the glove industry?
This period has not taken us by surprise. Having been in the glove business for over 31 years, we have come to expect and
prepare for challenging times, which we know will typically follow good times. Hence, after 2 years of exceptional highs
in glove demand and ASPs, we have anticipated that the descent into normalisation will also be exceptional, as part of
the business cycle. This is why it is so important for us to maintain the “3 healths”, mental, physical and financial, as our
Imbas kod QR untuk
membaca Perbualan dengan foundation, so that we are able to outlast the tough times and poised to capitalise on opportunities during favourable times
Pengerusi Eksekutif dalam when they come again.
Bahasa Malaysia
In order to go through this season, our highest priority for the present is to conserve cash and reduce losses. To this end,
https://tgapp.topglove.com/IAR2022/In_ we are embarking on cost rationalisation towards optimising cost, manpower and resources while continuing to improve
Conversation_with_EC/BM_Version/2022/ operational effectiveness. Notwithstanding, talent development and retention remains an important area of focus, as there will
index.php always be a place in our company for good and quality people who will help us weather the tough times and take advantage
of the rebound.
It is important to note that the industry’s fundamentals remain intact, with no structural changes; gloves continue to be an
扫描二维码以查阅中文版 essential item in the medical sector with no viable replacement. We are confident the glove industry will eventually recover
《与执行主席的对话》 once the demand/supply mechanism rebalances and glove demand resumes its 10% growth per annum as projected by the
Malaysian Rubber Glove Manufacturers Association (MARGMA), in line with actual consumption which is driven by heightened
hygiene awareness and usage post pandemic.
https://tgapp.topglove.com/IAR2022/
In_Conversation_with_EC/Chinese_
Version/2022/index.php

3
In Conversation with the Executive Chairman In Conversation with the Executive Chairman
Tan Sri Dr Lim Wee Chai Tan Sri Dr Lim Wee Chai
Q3 Q5 Q6 Q7
The glove industry seems to be on a protracted How has Top Glove progressed in delivering on Top Glove has on several occasions stated that the The glove industry has always been touted as being
downcycle, possibly the worst it has seen in a long its Environmental, Social and Governance (ESG) company is always asking itself “what’s next?”. resilient towards external factors such as political
time. When is the market expected to recover? aspirations and Sustainability agenda? What lies ahead for Top Glove? What are the key or economic uncertainty. In terms of outlook, does
priorities for financial year 2023 and beyond? this still hold true?
The market will require some time to adjust to the Sustainability has been well integrated into our corporate
normalising trend and for glove demand to gradually pick agenda and daily operations, and the temporal challenging Priorities will change during challenging times. Our Definitely. While the challenging environment is expected to
up, as customers have stocked up on gloves during the times have not derailed our focus on this important area. immediate, most pressing one is to sustain ourselves in light persist in the near term, we must bear in mind that nothing
pandemic and are now still utilising their stockpile. As a of present circumstances which are characterised by twin fundamental has changed about the glove industry.
result, for example, hospitals still have gloves which they are Reflecting our robust commitment, we launched our challenges of glove oversupply and overstocking.
exhausting and are not buying from our customers at the Sustainability Policy in June 2022, detailing our commitments The rubber glove business continues to offer good prospects,
moment, causing a temporary slowdown in orders. in the areas of environmental, social, governance and To this end, the focus will be on strengthening our with global glove demand projected to grow healthily at
traceability. Additionally, our Sustainability Roadmap within fundamentals in preparation for industry recovery, a rate of 10% yearly post pandemic. Our optimism is well
However, as gloves remain a necessity in the medical the Policy outlines steps and measurable targets up to
particularly in the 4 critical areas of operational effectiveness, founded. Gloves are both an essential and disposable item
industry and a disposable item, existing stockpiles will FY2025, which include setting a Net Zero Carbon target
cost rationalisation, talent development and retention, as in the healthcare industry, which means usage/demand
year and achieving 70% traceability to plantations of natural
eventually be depleted and demand will return. Based on well as sustainable stakeholder value creation. In addition, will be recurring. As healthcare awareness and standards
rubber sourcing.
prevailing trends, we anticipate glove demand and ASPs are we will take this opportunity to refurbish and upgrade our increase on the back of new global health threats emerging,
likely to rebalance within the next 1 year. existing production lines, so we are strongly positioned for consumption is also expected to go up correspondingly.
More recently, in October 2022, Top Glove was included
on the Dow Jones Sustainability Indices (DJSI) 2022 for the when the industry recovers. Consider too, that with life expectancy on the rise owing
to advances in medicine and technology, there will be a
Q4
fourth consecutive year, emerging among the top 3% (as at
21 October 2022), as well as top 16% in the FTSE Russell growing ageing population who will require more healthcare,
ESG Ratings, underscoring our ongoing resolve to continue Strengthening Our Fundamentals pushing glove usage up.
levelling up our sustainability practices to be on par with
Top Glove’s share price has now slid below RM1. international standards. in 4 Critical Areas We are certain the impact from these key growth drivers will
How do you view this development? be felt in their entirety once the market attains equilibrium,
We are mindful there is always more we can do and will keep rendering the long-term outlook for the glove industry a very
The glove industry was in a very unique position during the improving so that we continue to perform well not just as a promising one.
pandemic. Unlike many other industries, we did extremely business but equally importantly, as a corporate citizen.
well and were able to provide attractive dividends and capital
returns via a higher share price, while protecting frontliners
with our gloves at the same time. Our Sustainability Roadmap outlines our targets up to
FY2025 which include:
The current share price reflects weaker sentiment in response
to the softer performance delivered by glove manufacturers, Operational Cost
due to the reasons aforementioned. We are certain however, Setting a Net Zero Carbon Effectiveness Rationalisation
that once glove demand starts to pick up, alongside target year
industry consolidation and new capacity being deferred,
our performance will return to pre-pandemic levels or even Achieving 70% traceability
better, and our share price will correspondingly reflect that to plantations of natural rubber sourcing
position as well.
Top Glove participated in the 10th International Rubber Glove

As always, we continue to encourage Underscoring our commitment to sustainability, Top
Conference & Exhibition (IRGCE 2022) from 6th to 8th September 2022
Glove emerged: Talent Sustainable
our investors to adopt a long-term Development Stakeholder
perspective to investing in Top Glove Top 3% on the Dow Jones and Retention Value Creation
and to consider the industry’s strong Sustainability Indices 2022 having
been included on the index for the
and unchanging fundamentals rather
4th year running
than share price alone.
Top 16% in the FTSE Russell
ESG Ratings

3
Letter to Stakeholders and Letter to Stakeholders and

Management Discussion & Analysis
Management Discussion & Analysis
Management Discussion and Analysis Inflationary effects on packaging materials and chemicals also
STAYING SUSTAINABLE THROUGH A softer financial performance in transition to normality
contributed to rising costs, as did lower production utilisation
rates. Unable to activate the cost pass through mechanism
POST PANDEMIC CHALLENGES Against a highly challenging and volatile backdrop, and as amidst the ongoing oversupply situation, the Group absorbed
the world verges on endemicity, the Group delivered Sales the escalating costs, adversely impacting its bottom line.
Revenue of RM5.57 billion and Profit After Tax of RM282
Good health and good day Fellow Stakeholders. million for FY2022. Temporary Headwinds in FY2022
Many words have been used to describe this period of great upheaval particularly in the 2nd half of FY2022,
The softer financial performance in comparison with FY2021’s
which has not only affected our company Top Glove, but the glove industry at large.
historical high results occurred amidst a convergence of 1 2
The Perfect Storm. Disruptive landscape. Industry shakeout. headwinds, as the glove industry weathers an adjustment Glove oversupply Excess stockpiling
period en route to normality. In particular, we contended with arising from aggressive from pandemic driven
Indeed, we are experiencing a season of unprecedented challenge and change, further exacerbated by the twin challenges of glove oversupply coupled with pandemic expansions and new panic buying
backdrop of global uncertainty against which it takes place. driven excess stockpiling. These resulted in a temporary capacity within the glove
but substantial slowdown in demand, which saw Sales industry
Volume (Quantity) decrease by 25% in comparison with the
However, while these times are tough, they do not take us by surprise. Our global industry experience has
previous financial year and set average selling prices (ASPs) 3 4
taught us to expect and prepare for the ebb and flow of business cycles. Throughout our company’s rich on a downward trend, easing 59% year on year. The situation Easing ASPs Slowdown in orders
31 year history, we have traversed the toughest of times, and are confident of successfully navigating this was compounded by customer hesitation to place orders in due to demand/supply as customers anticipate
temporary setback, just as we have before. anticipation of further weakening in ASPs, as well as a lack imbalance caused by further decline in ASPs
of urgency to do so in light of low utilisation rates within oversupply and stockpiling,
the industry. Following the decline in ASPs, the Group also aggravated by customer
On this hopeful note, we are pleased to present you with our Integrated Annual Report for FY2022.
performed a write down of its inventory value to net realisable hesitation to place orders
value by RM229 million for FY2022.
5
TAN SRI DR LIM WEE CHAI LIM CHEONG GUAN In addition, we were affected by an escalation in cost structure Escalating production related costs
Executive Chairman Managing Director on the back of global supply chain disruptions. Meanwhile, on on the global and domestic front
the domestic front, the Group felt the impact of approximately
a 60% hike in the natural gas tariff over the course of FY2022,
as well as a 25% increase in the Malaysian minimum wage However, glove consumption continues to grow
from RM1,200 to RM1,500 which took effect in May 2022. underpinned by strong industry fundamentals
Performance Milestones for Financial Year 2022
Revenue, RM’mil EBITDA, RM’mil & Margin% 63%
16,361
-66% 33% 10,285
14% 12%
7,237
4,801 5,572
-93%
2,421
687 687
FY2019 FY2020 FY2021 FY2022 FY2019 FY2020 FY2021 FY2022
PAT, RM’mil & Margin% Net Cash/(Borrowings), RM’mil

48%
2,343
25% 7,824 1,743
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8% 5%
kepada Pihak Berkepentingan dan 扫描二维码以查阅中文版《致权益持有人
Perbincangan & Analisis Pihak Pengurusan 的信函及管理层讨论与分析》 31/8/20 31/8/21 31/8/22
-96%
dalam Bahasa Malaysia 1,789
368 282
https://tgapp.topglove.com/IAR2022/Letter_to_ https://tgapp.topglove.com/IAR2022/Letter_to_ (2,251)
Stakeholders_MDA/BM_Version/2022/index.php Stakeholders_MDA/Chinese_Version/2022/index.php FY2019 FY2020 FY2021 FY2022 31/8/19

3

Management Discussion & Analysis Management Discussion & Analysis
Investing in Innovation and Technology for the Long Term

FY2022 Sales Volume (Quantity) Comparison by Region
The challenging times have not dampened the spirit of

North America Western Europe Eastern Europe Asia innovation which continues to thrive at Top Glove. We
12% 18% 19% 27% continue to invest in R&D, to which end we have established
10 R&D Centres across Malaysia, Thailand and China each
specialising in different areas and have filed over 400 patents
to date. Our product development has been guided by a
clear direction to enhance user experience through improved
Eastern Europe
quality and customisation, as well as to expand our stable
Western Europe of environmentally friendly gloves. Over the course of the
North America financial year, our meaningful pursuit of R&D has birthed
new products which include Metal Detectable Nitrile Gloves
(MDG), Eco-Friendly Nitrile Gloves and Plant-Based CPE
Asia
Gloves.
Africa Middle East
Latin America Top Glove’s Fully Virtual 23rd Annual General Meeting held on 6 January
2022
Awards & Accolades Metal Detectable Nitrile Gloves

are engineered with food safe
We are honoured to have garnered multiple awards in magnetic material, enabling
Latin America Africa Middle East FY2022, in recognition of our achievements in the areas of the detection of torn glove
13% 3% 8% business sustainability and human resources. fragment contaminants in food
processing to prevent product
In January 2022, Top Glove received a Gold in the Consumer contamination.
Products Category (Mid Tier & Large Companies) at The
Mitigating Measures: Pivoting from Profitability to Preservation Corporate Developments
Star Export Excellence Awards 2021. We were most
Changing of the Guard recently recognised at The Edge Billion Ringgit Club
Mindful that our priorities would have to strategically shift from focusing on
2022 for Highest Return on Equity Over 3 Years under the
profitability to preservation, we have put the following mitigating measures in place
Top Glove saw several developments Healthcare sector in October 2022.
towards ensuring operational efficiency and effecting cost rationalisation:
in the Boardroom during the financial
Eco-Friendly Nitrile Gloves
year in review, standing it in good stead A glowing testament to the company as an employer of
entail a green manufacturing
Deferring all new CAPEX for new capacity in view of lower to weather the difficult times. On 1 choice, we were accorded top honours in three leading
process that eliminates
utilisation levels August 2022, Dato’ Lee Kim Meow who graduates’ choice awards, namely the GRADUAN Brand
chlorination and polymer
served for 13 years as our Managing Awards 2021 where we were named Malaysia’s Most
coating, without compromising
Director was redesignated as Non- Preferred Employer under the Manufacturing category;
its smoothness and donning
Independent Non-Executive Director, Malaysia’s 100 Leading Graduate Employers Awards 2021
Streamlining facilities to focus on enhancing factories producing performance.
upon retiring after 25 years of service. (M100), where we emerged champion in the Engineering
in house supply of materials
Dato’ Lee has been most fittingly and Heavy Industry category for the 5th year running; and
succeeded by Mr Lim Cheong Guan, at Talentbank's Graduates’ Choice Awards 2022, we were
the Group’s Executive Director. In line acknowledged as the Most Preferred Graduate Employer.
Pursuing more cost-effective procurement through collaborations with Board succession planning, we are Additionally, we walked away with multiple wins at the
with suppliers also pleased to have appointed Mr Ng Employee Experience Awards 2022 namely 4 Gold awards
Yong Lin, presently the Chief Operating for Best First Time Manager Programme, Best Employer Plant-Based CPE Gloves
Officer (COO), as our Executive Director Branding, Best Succession Planning, Best Learning and encompass bio based raw
Recapturing sales to the U.S. through intensified sales and effective 1 August 2022. Earlier in Development Programme; and 2 Silver awards for Best material from renewable
marketing efforts FY2022, the Group also appointed new Rewards and Recognition Programme and Best In-House resources, able to absorb carbon
Independent Non-Executive Directors Learning Academy. dioxide during the plantation
Dato’ Kong Sooi Lin, Dr Ngo Get Ping process to reduce carbon
Enhancing our product offerings with more cost efficient, value and Mr Martin Giles Manen, further footprint.
added and eco-friendly products, while maintaining a comprehensive enriching our board composition.
and balanced portfolio of gloves complemented by a non-glove
product range

3

In tandem, we continue to leverage technology to advance joint ventures, as well as our supply chain. As outlined in our Priorities & Strategies for Uncertain Times: Reinforcing Our Fundamentals
our ongoing quest for improvement, particularly in terms Sustainability Roadmap, the Group has also committed to
of glove quality. We adopted an approach centred on “The setting a Net Zero Carbon target year and aims to achieve While the long-term outlook for the glove industry remains promising, the challenging environment is expected to persist into
Genealogy of Quality”, which entailed the implementation of 70% traceability to plantations of natural rubber sourcing by CY2023 as glove demand stabilises. To ensure Top Glove is able to navigate the unchartered waters ahead, our focus will be on
a comprehensive Work Order and Batch Quality Management FY2025. strengthening our fundamentals in preparation for industry recovery. To this end, we have a multi-pronged strategy focusing on
system. The system served to interconnect processes along the following pillars:
our manufacturing value chain, enabling us to achieve full Our robust commitment to attain higher standards of
harmonisation and product traceability down to the origins of sustainability practices garnered double recognition with an
each glove produced. The data generated was also harnessed improved performance on both the renowned Dow Jones Operational Effectiveness
to provide real time visibility and transparency of operations, Sustainability Indices (DJSI) 2022 for the 4th year in a row
facilitating more effective communication and minimising where we ranked among the top 3% (as at 21 October 2022) Our manufacturing process will continue to be finetuned for better efficiency as well as eco-friendliness, driven primarily
mistakes/wastage. Going further, the measurement data was among our industry peers, outperforming 97% of companies by innovation and automation. In tandem, our operations will be reviewed to eliminate unnecessary processes towards
also fed into our machine learning models, for predictive data in our industry category globally in 2022; and the FTSE minimising wastage and inefficiencies.
analytics to prevent glove defects. Russell Environmental, Social and Governance (ESG)
Ratings in which we scored among the top 16% in the
Built for Good: Strengthening Sustainability Health Care sector. Top Glove also received an award for
Cost Rationalisation
Company of The Year Overall Excellence in Sustainability and
Our sustainability journey has been deeply satisfying and CSR (Manufacturing category) at the Sustainability & CSR To address the impact of a lower utilisation rate, we will continue to rationalise our production facilities as required,
one on which we continue to make meaningful progress. Malaysia Awards 2022.
adjusting capacity expansion plans to better align with market demand. Concurrently, we have redeployed manpower and
We are mindful that as we grow, so will our stakeholders’
resources to optimise productivity, while instituting a temporary pause on corporate hiring for noncritical positions.
expectations of us as a corporate citizen and industry Underscoring our commitment to uphold human rights, our
leader. Accordingly, we continue to step up our efforts in this Board of Directors and Senior Management Team pledged
important space, building on our achievements, with a view their unwavering support of best practices articulated in
to going from good to even better. the United Nations Guiding Principles on Business and Talent Development & Retention
Human Rights (UNGP BHR), at an internal ceremony held in
In June 2022, we were especially pleased to have released conjunction with Human Rights Day 2021. While hiring strategies have been adjusted in line with the current economic climate, we stay true to our people first
our Sustainability Policy which articulates our commitments culture. Employee welfare remains a priority and we also continue investing in upskilling our human assets through robust
in the areas of environmental, social, governance and To understand more about how sustainability has been talent development and training programmes.
traceability. Developed in consultation with a variety of integrated into our business, we invite you to view our
stakeholders, the Policy guides ethical and responsible Sustainability Statement on pages 66 to 77.
sourcing and procurement for all Top Glove subsidiaries and
Value Creation Through Sustainability
Sustainability considerations continue to drive our corporate agenda. Accordingly, our business decisions are rooted in a
deep respect for human rights, good governance and community building. The company also continues to align all work
processes with the United Nations Guiding Principles for Business and Human Rights on an ongoing basis. Additionally,
we continually enrich our product portfolio with a growing range of green products, while refining our manufacturing
operations to incorporate greener processes. ESG related initiatives may not always yield tangible returns in the immediate
term; but as with our business, we take a long-term view of our ESG investments, and have every conviction that both our
stakeholders and our business will reap the manifold benefits in due course.
Looking Ahead Towards Recovery
The unfavourable landscape notwithstanding, we are heartened that the situation is temporary and not reflective of the
business or the glove industry’s true potential, both of which remain promising in the longer term. We are mindful that a
period of adjustment is to be expected after each pandemic. While this cycle may be more protracted than hoped, we know
that once the demand/supply mechanism rebalances, glove demand will resume its 10% growth per annum, in line with
actual consumption driven by rising usage and hygiene awareness, post pandemic. More significantly, the glove industry’s
fundamentals remain intact with no structural changes: gloves continue to be an essential item in the medical sector with no
viable replacement, and are also disposable which will underpin recurring demand. We also believe these trying times provide
good opportunities for the business, as we have in place the right talents, skills and experience to leverage them.
In view of ASPs declining at a slower rate, our selling prices have been raised 5% for October 2022, reactivating the cost
pass through mechanism. Going forward, we foresee that glove orders will pick up as inventory on hand is cleared and ASPs
Participants at Top Glove’s Annual Leadership Summit 2022 themed “Make it right, make it happen, make it fast!”
eventually bottom out. Meanwhile, the downward trend in raw material prices is expected to help mitigate pressures from
rising operational costs, as is the strengthening USD.

3

With our strategic focus on fortifying our company fundamentals to adapt to the prevailing market environment and steadfast
commitment to advancing sustainability, we are confident of riding out this difficult period and staying the course in our
ongoing pursuit of creating sustainable, enduring value for all our stakeholders.
Heartfelt Thanks
In a year clouded with uncertainty for markets and businesses, we continue to see with great clarity the importance of our
people. On this note, we wish to record our deepest appreciation to:
Dato’ Lee Kim Meow

Our employees who amaze and inspire us daily, with their industriousness, commitment and tenacity. Time and again, We place on record our utmost gratitude to Dato’ Lee Kim Meow,
you continue to meet challenges head-on with courage, ingenuity and a readiness to go beyond the call of duty. You are who retired on 31 July 2022, after 25 years of invaluable service
the embodiment of the undefeatable Top Glove spirit of entrepreneurship and professionalism that will carry us through at Top Glove, 13 of which he served as Managing Director. We are
this uneven post pandemic landscape, well into recovery and beyond. privileged indeed to have Dato’ Lee remain as Non-Independent
Non-Executive Director on Top Glove’s Board of Directors, where
he continues to have an instrumental role in driving the company’s
agenda.
Dato’ Lee Kim Meow joined Top Glove in 1997 during the company’s
early years when it was a local business with a global vision. He was
appointed Executive Director in 2003 and redesignated Managing
Our Board of Directors who has steered us most judiciously through yet another challenging year, ensuring we are well
Director in 2009, a role he carried out with utmost distinction.
positioned to outlast this difficult season and poised for the rebound. We would not have gone the distance we have,
Concurrently, he helmed the Marketing Department, spearheading
without your valued insights and experience, which will continue to astutely guide us forward. multiple strategic initiatives that have helped win the loyal
businesses of over 2,000 customers across some 195 countries.
We take this opportunity to warmly welcome our Independent Non-Executive Directors, Dato’ Kong Sooi Lin, Dr Ngo Get
Ping and Mr Martin Giles Manen whose timely addition and varied experience will serve to fortify our board composition. Dato’ Lee’s astute leadership has been key to supporting our
We also wish to express our gratitude to Dato’ Lee Kim Meow, who completed his term as Managing Director on 31 July Executive Chairman, Tan Sri Dr Lim Wee Chai, in deftly steering Top
2022, and count ourselves most fortunate to be able to continue benefitting from his wisdom in his new role as Non- Glove through the peaks and valleys of an ever-changing business
Independent Non-Executive Director. Finally, we extend our sincere thanks to Independent Non-Executive Directors, landscape, ensuring the company emerges stronger and better
Mr Lester Garson Huang and Mr Anthony Lo, for their service and positive contributions. every time. Working hand in glove with Tan Sri Lim, they turned
mission into action, and vision into reality, building Top Glove
into the resounding international success it is today: the world’s
largest manufacturer of gloves with a Revenue which peaked at a
record breaking RM16.4 billion in FY2021. Dato’ Lee also played
an important part in the successful listing of Top Glove on Bursa
Malaysia in 2001 and Singapore Exchange in 2016.
Our loyal customers, vendors, shareholders and other stakeholders; thank you for your unwavering support, We appreciate Dato’s good service enormously and look forward
feedback and constructive critique, which motivate us to level up our performance and be the best possible version of to continue drawing on his vast industry knowledge and experience
ourselves every day. for many more years to come.
The Board and Management of Top Glove
TAN SRI DR LIM WEE CHAI LIM CHEONG GUAN

Executive Chairman Managing Director
Top Glove Corporation Bhd Top Glove Corporation Bhd
1 November 2022 1 November 2022

SECTION 4 HOW WE CREATE VALUE
4
The Market and Trends that Shape Us The Market and Trends that Shape Us
Our performance is influenced by various business dynamics, economic climates and societal
Wider Applications of Gloves Across Industries
changes that shape the world. We consistently monitor the key trends that have an impact on our
long term business sustainability. To further improve workers’ safety,
corporations have implemented
Increased Health & Hygiene Awareness Ageing Population and Higher Life Expectancy the ISO45001 occupational health
and safety management systems
to regulate and improve safety in
the work environment. For the food
and beverage industry, developed
countries have developed guidelines
and recommendations for hygiene
purposes by wearing gloves to
prevent foodborne diseases. Hence,
these factors would likely contribute
With gloves being very versatile in nature, other industries, such as food
to glove demand in the future.
and beverages, biotechnology etc., have adopted gloves. The emerging 5G
As an inexpensive protective barrier for people, demand Life expectancy has increased overall and people technology, AI and IoT, have driven the demand of gloves used in research
of gloves can be seen during health threats such as SARS, worldwide are living longer. Every country in the and development, industry and electronics. Governments globally also have
H1N1 and most recently, COVID in 2020. Increasing world is experiencing growth in both the size and the mandated stricter occupational safety regulations, requiring corporations to
health and safety concerns have led to a surging demand proportion of older persons in the population. According provide safer work environments for its workers.
for personal protective equipment (PPE) including to World Health Organisation (WHO), by 2050, the
disposable gloves. world’s population aged 60 years and above will
double to about 2.1 billion people3. Between 2015 and Product Structure Transformation and Technology Upgrading
According to the International Monetary Fund (IMF)1, 2050, the proportion of the world’s population over 60
emerging markets and developing economies are years will nearly double from 12% to 22%. Common Natural rubber latex gloves, being more comfortable and higher
projected to grow 3.8% in 2022 and 4.4% in 2023. Driven health conditions are associated with ageing as senior dexterity than nitrile latex gloves, have been the mainstay for the
by the growing economy, governments can devote
population are prone to different diseases and require medical and industrial sectors for some years. However, concerns
more resources to the national health budget to improve
more medical check-ups. The rising number of aged over latex allergies have motivated glove manufacturers to improve
domestic health systems. The global health expenditure
population has pushed the demand for healthcare the performance of their nitrile latex gloves and nowadays, nitrile latex
per capita recorded an increase from USD999 in 2015
products and services, resulting in higher glove gloves are almost as comfortable and permeable as natural rubber
to USD1,105 in 2020 and is estimated to increase to
consumption. latex gloves. In addition, nitrile latex gloves can be sterilised without
USD1,515 by 2050.2
any effect on its physical characteristics. Thus, with its excellent
performance, many industries have opted for nitrile latex gloves.
Global Macroeconomic Outlook
The average selling price (ASP) of nitrile latex gloves is higher than
fragmentation, which could impede global trade and other major materials which made it difficult to penetrate the market
cooperation. The IMF has cut its year-on-year gross of developing areas. So, to make products more cost-effective, glove
domestic product (GDP) growth forecast from 6.1% in manufacturers have invested heavily in automation and digitalisation
2021 to 3.2% in 20224. In 2023, disinflationary monetary resulting in higher productivity and lower overheads, improving
policy is expected to bite, with global output growing by companies’ competitiveness. ASPs of gloves will gradually decrease
just 2.9%. in the future along with improved production efficiency and utilisation
rate.
The Federal Reserve raised the target range for the fed
funds rate by 75bps to 3% to 3.25% range during its
September 2022 meeting5, the third straight 75 bps
increase, and pushing borrowing costs to the highest level
Risks to the global economic outlook are overwhelmingly since 2008. The central bank said that ongoing increases
tilted to the downside. According to the IMF, after taking in the target range will be appropriate and that it is
Source:
into consideration risks arising from Russia-Ukraine war, prepared to adjust the stance of monetary policy. Federal
1. https://www.imf.org/en/Publications/WEO/Issues/2022/04/19/world-economic-outlook-april-2022
inflation globally, the tight labour market and monetary Reserve officials committed to raising interest rates to a 2. https://www.statista.com/statistics/856380/per-person-health-spending-globally
policies, potential debt distress in emerging markets, restrictive level in the near term and holding them there to 3. https://www.who.int/news-room/fact-sheets/detail/ageing-and-health
the property sector crisis in China and geopolitical curb inflation. 4. https://www.imf.org/en/Publications/WEO/Issues/2022/07/26/world-economic-outlook-update-july-2022
5. https://tradingeconomics.com/united-states/interest-rate

SECTION 4 HOW WE CREATE VALUE
4
Stakeholder Engagement Stakeholder Engagement
STAKEHOLDER ENGAGEMENT
How Are Our Stakeholders Connected?
Our value creation model is very much designed based on multi stakeholder facets because we are aware that our business
strategies would not work if formulated and obtruded from top down. We continually engage with stakeholders via different
Shareholders/ Government/ Local NGOs Media Industry
channels, respond to their concerns and expectations in order to align their key priorities with our business strategy. The
Investors Regulators Communities Associations
outcome of the engagement enables us to identify upcoming market trends, anticipate challenges and align our sustainability
strategy and business activities with broader interests of the economy, society and environment.
Our Value Chain Suppliers Employees Customers
Stakeholder Top 5 Material

Why We Engage How We Engage Frequency Our Response To Concerns Value Created
Group Matters Concerned
1. Employee engagement survey

1. Labour Management Employee assembly Weekly 1. Strong relationships with
2. Improved Grievance Procedure
Relations Employee satisfaction survey Annually employees
3. Improved workers’ accommodation according to
Employees 2. Product Quality &
Performance appraisal review Half yearly regulations 2. Stronger motivation to improve
Safety productivity
Employees are the lifeblood of the Group’s 3. Environmental Recreational activities/empowerment 4. Independent Audits on labour practices
5. Workers’ town hall 3. Improved awareness on
business. Skilled management is needed to Compliance and training opportunities
As needed 6. Training on social and environmental aspects environmental compliance and
steer the Company and keep the business 4. Human Rights Newsletters product quality & safety
7. Training on product quality & safety
running to achieve Top Glove’s long term goals. 5. Customer Experience Corporate events
8. Tighten quality control
1. Incorporated environmentally-friendly practices in 1. Stronger customer relationships,

1. Environmental
Meetings manufacturing process leading to larger customer base
Compliance
2. Initiated traceability study and improved rentention
2. Supply Chain Social compliance audits As needed
Customers 3. Product inspections prior to delivery to customers 2. Increased brand relevance
Management
Customer portal 4. Quality testing of random samples from finished products globally
Our products ensure safe human protection 3. Product Quality &
3. Renewal of product licenses and
by Quality Assurance Department
globally. Fulfilling global customers’ needs is Safety Business trips
Annually 5. Customer satisfaction survey business permits
4. Customer Experience
our responsibility. Tradeshows 6. SMETA and BSCI social audits initiated by Top Glove and 4. Customer satisfaction
5 Human Rights
customers
Shareholders
1. Product Quality & Safety
2. Environmental Compliance
Shareholders/Investors, Analysts & Bankers 3. Labour Management
Analysts’ briefings Quarterly
Relations
Shareholders and investors invest in the Annual feedback form Annually 1. Maintained investors’ confidence
4. Ethics, Integrity & 1. Innovation through R&D
Group’s business and we are compelled to Governance 2. Investment in automation and digitalisation 2. Transparency in corporate
Annually and
deliver financial performance and strategic 5. Supply Chain General meetings 3. Updated corporate website governance reporting and
as needed
decisions for future prospect. Management 4. Improvement on environmental best practices practices
Analysts/fund managers/ 5. Implementation of the ISO 37001 Anti-Bribery 3. Wider product range
Investors, Analysts & Bankers investors meetings Management System 4. Consistent product quality and
1. Labour Management As needed 6. Initiated traceability study lower production cost
Roadshows and conferences
Relations
2. Ethics, Integrity & Social media platform
Governance
4. Human Rights
5. Supply Chain Management
1. Handle, store, use and dispose materials in

environmentally-sound manner 1. Sustainable sourcing process
Suppliers 2. Ethics, Integrity &
Audits and site visits Annually 2. Updated Business Partners’ Code of Conduct 2. Business reputation and integrity
Governance
Suppliers provide necessary materials and 3. Quality testing of random samples from finished products assured
3. Product Quality & Safety Meetings
services for us to produce products and As needed by Quality Assurance Department 3. Stronger business relationship
4. Labour Management
Electronic procurement network 4. Regular meetings and interactions on issues encountered with suppliers
deliver to customers. We work closely and Relations
5. Supplier audits
maintain good relationships with them. 5. Supply Chain Management
6. COVID vaccination for employees

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INTEGRATED

SCAN FOR TG SCAN FOR TG

Taxation 76,834 2,209,821 376,721 56,042 89,594 54,514

INTEGRATED ANNUAL REPORT 2022 1

Our Business Overview Our Export Markets

4 TOP GLOVE CORPORATION BHD INTEGRATED ANNUAL REPORT 2022 5

Our Guiding Principles Our Global Offices

BUSINESS DIRECTION BUSINESS PHILOSOPHIES

1 We work for our customers

2 We take care of the interest of our shareholders

4 We work closely with our bankers, suppliers, business associates,

QUALITY POLICY CORPORATE VALUES

1 Quality and productivity are our business 1 Respect

2 Continuous improvement and innovation are our duties 2 Integrity

USA GERMANY CHINA VIETNAM

BUSINESS RULES BUSINESS ETHICS

1 Do not lose our shareholders’ money 1 Honesty

2 Do not lose our health 2 Integrity

3 Do not lose our temper 3 Transparency

4 Do not lose our customers

5 HEALTHY WELLS CUSTOMER CENTRICITY

1 Clean Well 4 Exercise Well 1 Quality

2 Eat Well 5 Sleep Well 2 Value

3 Work Well 3 Service

BRAZIL THAILAND MALAYSIA SINGAPORE INDONESIA

6 TOP GLOVE CORPORATION BHD INTEGRATED ANNUAL REPORT 2022 7

Corporate Structure Corporate Structure

TOP GLOVE SDN BHD

TOP SYNTHETIC RUBBER SDN BHD TERANG NUSA SDN BHD

ASPION SDN BHD SUIZZE HEALTH LTD 99.9%

8 TOP GLOVE CORPORATION BHD INTEGRATED ANNUAL REPORT 2022 9

NEW LEVELS OF EXCELLENCE

2022 The Star Export Excellence Awards 2021 2019

10 TOP GLOVE CORPORATION BHD INTEGRATED ANNUAL REPORT 2022 11

Our Corporate Directory Our Corporate Directory

MALAYSIA OFFICES AND FACTORIES

FACTORY 21 & 21RBD FACTORY 34PM

12 TOP GLOVE CORPORATION BHD INTEGRATED ANNUAL REPORT 2022 13

Corporate Information Board of Directors

REGISTERED & CORPORATE OFFICE STOCK EXCHANGE LISTING

AUDITORS SENIOR INDEPENDENT REGISTRAR IN MALAYSIA

14 TOP GLOVE CORPORATION BHD INTEGRATED ANNUAL REPORT 2022 15

Board of Directors Board of Directors

TAN SRI DR LIM WEE CHAI LIM CHEONG GUAN

16 TOP GLOVE CORPORATION BHD INTEGRATED ANNUAL REPORT 2022 17

Board of Directors Board of Directors

LIM HOOI SIN NG YONG LIN

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

Meeting Attendance in FY2022: Meeting Attendance in FY2022:

18 TOP GLOVE CORPORATION BHD INTEGRATED ANNUAL REPORT 2022 19

Board of Directors Board of Directors

DATO’ LEE KIM MEOW SHARMILA SEKARAJASEKARAN

BSC BAC BNRC ESOSC ESGPC

Meeting Attendance in FY2022: Meeting Attendance in FY2022:

BOD BOD BSC BAC BNRC

20 TOP GLOVE CORPORATION BHD INTEGRATED ANNUAL REPORT 2022 21

Board of Directors Board of Directors

DATUK NORIPAH KAMSO DATUK DR. NORMA MANSOR

22 TOP GLOVE CORPORATION BHD INTEGRATED ANNUAL REPORT 2022 23

Board of Directors Board of Directors

AZRINA ARSHAD MARTIN GILES MANEN

Meeting Attendance in FY2022: Meeting Attendance in FY2022:

BOD BAC BNRC BSC BOD BAC BRIC BSC