“These unforeseen circumstances have forced us to make the difficult but necessary decision to begin the process of winding down business operations with effect from 15 April,” the letter said.
(April 8): Malaysian rubber glove maker WRP Asia Pacific Sdn Bhd will begin winding down its business operations this month, citing “severe disruptions across global energy and petrochemical supply chains” caused by the Middle East conflict.
WRP has suffered from “significant” increases in costs for petrochemical-derived raw materials and chemicals while facing uncertainty about procurement timelines and suppliers that increasingly require advance payments, the company said in a March 31 letter addressed to customers, which was reviewed by Bloomberg News.
