Along with the spike in demand, there have been so-called “spot” buyers who are happy to pay a premium so that they can get their hands on enough stock to resell. For the glove makers, this naturally means a much fatter margin.
The glove-making industry has been on a tear since the outbreak of Covid-19. As demand continues to surge, share prices of glove markers have shot up multi-fold, in tandem with earnings growth.
“We are selling what we can produce,” says Lee Jun Yih, executive director and finance director of UG Healthcare, whose production is running at full steam.
