BUDGET 2026: TOP GLOVE CALLS FOR SWIFT TAX REFUNDS TO EASE CASH FLOW

KUALA LUMPUR, Oct 9 (Bernama) -- Top Glove Corporation Bhd is seeking to expedite tax refunds for excess payments to improve cash flow and enhance operational efficiency.

Managing director Lim Cheong Guan said that while the company is not seeking major tax incentives ahead of Budget 2026, it hopes for more efficient administrative processes.

“We are not seeking major tax incentives as we understand the government’s current fiscal rationalisation efforts and the need to rebuild reserves.

“Our main request is administrative. We hope the government can expedite tax refunds for excess payments,” he said during the group’s fourth quarter results briefing today.

Lim also said that flexibility in foreign worker intake remains important to meet growing demand despite increased automation in its operations.

“We have reduced our labour dependency significantly to around 1.6 workers per one million pieces of gloves, but some manpower is still required,” he said.

Top Glove executive chairman Tan Sri Dr Lim Wee Chai said a stable and efficient policy environment is crucial for businesses to remain competitive globally.

“We do not expect subsidies, but we hope not to be burdened with too many extra costs or taxes.

“Companies must remain profitable so we can continue contributing positively to the economy, society and the country,” he said.

Top Glove returned to profitability, posting a net profit of RM109.07 million for the financial year ended Aug 31, 2025 (FY2025), compared with a net loss of RM64.88 million a year earlier.

Revenue rose 39 per cent year-on-year to RM3.49 billion from RM2.51 billion previously.

The world’s largest glove manufacturer also declared a final dividend of RM38.5 million for FY2025, payable on Dec 15, 2025.

-- BERNAMA