Top Glove says it is reaching out to CBP through its US office to “understand” the issue better. It expects the matter to be resolved within an estimated two weeks.
SINGAPORE (July 16): Top Glove shares fell 6.0% from a high of $7.64 at 9.55am to $7.18 at 11.58 as US Customs and Border Protection (CBP) placed a detention order on disposable gloves manufactured by two of the company’s subsidiaries, Top Glove Sdn Bhd and TG Medical Sdn Bhd, on July 15.
The Malaysia-based glove maker called for a trading halt at 12.35pm on Thursday, and has requested for a lifting of the halt at 3.30pm on the same day.
