BURSA TOP 20: WHO'S THE MOST CHARITABLE?

How Malaysia's Biggest Public Companies Give Back To Society?

Top Glove Corporation Berhad

As the world’s largest manufacturer of gloves, capturing 26% of the world market share for rubber gloves, Top Glove Corporation Berhad continues to level up its practices in the Environmental, Social and Governance (ESG) space, particularly in terms of labour practices. 

The group’s sustainability goal is to build the legacy of a world class sustainable business with long term positive impacts focusing on five strategic themes, including improving community livelihood. 

Demonstrating their commitment to creating long term positive values for stakeholders and the environment, Top Glove set medium term targets to be achieved by FY2025 against base year FY2021, aligned with their key focus SDGs as well as material issues identified.

Fiscal Year Ended: 31 August 2021

*Proportion of cash giving is not visualized in the chart above due to its small percentage.

The net profit of FY2021 soared by 337% to RM7.82 billion from the previous financial year.

An unprecendented 452% increase of dividend payout to RM5.21 billion in FY2021, which is equivalent to a 68% dividend payout ratio. 

Total cash contributions made by Top Glove during FY2021 was approximately RM30,000 according to the giving initiatives reported.

Total in-kind contributions made by the Group was approximately RM191.5 million which made up 2.45% of Top Glove’s net income. Top Glove made the largest in-kind contribution of RM191 million for COVID-19 relief efforts.

The total employee volunteer hours reported by Top Glove in FY2021 is 61,152 hours.

Top Glove Corporation Berhad:
Cash, In-Kind and Employee Volunteer Hours

No.ContributionCash GivingIn-kind GivingEmployee Volunteer HoursBeneficiaries
1COVID-19 relief efforts
The total COVID-19 relief giving for Top Glove is RM191M as stated in the report. It is assumed that all related COVID-19 giving is included the stated amount.
N/ADonations and relief efforts worth RM191MN/ALocal communityTop Glove supported 36 hospitals and medical centers, including the Ministry of Health, nation of Nepal as well as 47 NGOs/Welfare Homes/Educational Institutions since the start of the COVID-19 pandemic. This support was extended in forms of monetary donations, food aid, personal protective equipment (PPE) and medical equipment, with a total contribution value of RM191 million.
2Employee volunteer hoursN/AN/A61,152 hrsBeneficiariesThe total voluntary hours clocked by Top Glove employees during FY2021 was 61,152 hours. Out of these volunteer hours, 44,851 hours were in support of pandemic related initiatives such as glove packing, PIKAS vaccination program and delivery of PPE donations.
3ScholarshipsN/AScholarships worth RM0.5MN/A11 scholarsTop Glove awarded 11 scholarships valuing at more than RM500,000 during FY2021.
4Edushare' programN/A17 reconditioned laptops/PCsN/AWelfare homes, community centres and tuition centresThrough the Edushare program, 17 units of reconditioned and usable laptops/PCs were donated to registered welfare homes, community centres and tuition centres for the underprivileged.
5Bangka Belitung outreach programsRM18.2kN/AN/ALocal community of Bangka BelitungIn FY2021, we also supported the local community with an investment of RM18,260 in outreach programs in Bangka Belitung, with 20% of the investment spent to provide food aid to the local community during the COVID pandemic.
6Blind Masseurs' projectN/AFood and basic essentials421 hrs110 blind masseursThe Blind Masseurs project is an initiative that supported 110 blind masseurs with the distribution of food and basic essentials every week for approximately 100 days at Brickfields. This initiative involved 93 Top Glove employees that clocked in 421 voluntary hours.
7CSR program with Shereen KhooN/AAssistanceN/A1 senior citizen and 1 single mother with 2 sonsTop Glove assisted a senior citizen and a single mother of two sons, both with Autism Spectrum Disorder (ASD) to earn a living by selling handicrafts to Top Glove employees. This initiative was made possible with 42 employees involved, contributing a total of 160 volunteer hours.
8Lend A Hand' (LAH) project N/AFood bank35 hrs1,036 familiesA food bank with groceries and facemasks was contributed to 1,036 families from B40 households in surrounding communities of Top Glove's factories. This initiative involved 208 employees and 35 volunteer hours contributed.
9Rise Against Hunger' and Yayasan Food Bank projectN/A60,000 dry rations and 1,000 grocery bags225 hrs2,000 people and 1,000 familiesThe Rise Against Hunger and Yayasan Food Bank projects was an initiative involving 35 employees that contributed 225 volunteer hours in packing hydrated dry ration to serve communities in need. The Rise Agaisnt Hunger Project benefited 2,000 people where approximately 60,000 dry ration packets were packed for one month consumption while 1,000 grocery bags were packed and distributed to 1,000 families through the Yayasan Food Bank project.
10Medical face mask donations to schoolsN/A92,000 face masks worth RM27.6kN/A78 secondary schoolsA donation of 92,000 pieces of medical face masks worth RM27,600 were contributed to 78 secondary schools around Malaysia for PINTAR Care Programme 2021.
11Supporting facilities upgrading for schoolsRM30kN/AN/A3 beneficiary schoolsTop Glove contributed close to RM30,000 to 3 beneficiary schools which includes 'Tabung Pendidikan SMJK Tsung Wah' to upgrade school facilities such as desks, chairs, whiteboards and notice boards for school students, Persatuan Ibubapa dan Guru SMK Convent Bukit Nanas to purchase study tables and to SJKC Tar Thong Penang for new building fund and maintenance fee for Montfort Youth Centre
12Public gotong-royong with public communitiesN/AN/A321 hrsLocal community areaWeekly gotong-royong activities were carried out by 156 Top Glove employees, contributing a total of 321 volunteer hours, together with the local communities in Meru, Klang vicinity.
13Eco Bricks: Give The Earth A Break' projectN/A1,000 eco bricksN/A2,400 residentsUnder Top Glove's Eco Brick Program, approximately 1,000 of eco bricks were made from plastic bottles packed tightly to build modular structures such as tables and chairs to drive awareness in terms of reducing and reusing plastic waste. This program, involving 330 employees that contributed 1,272 volunteer hours, contributed to the outdoor setups of Perkampungan Orang Asli POS Perwor, Perak and Taman Keceriaan in Taman Desa Indah Meru, where a clock tower complete with table, chairs and planter boxes were built from these eco-bricks. In total, more than 2400 residents benefited from these modular structures.

Notes:

  1. The total COVID-19 relief giving for Top Glove is RM191M as stated in the report. It is assumed that all related COVID-19 giving is included the stated amount.
  2. The information above is sourced from Top Glove Corporation Berhad’s 2021 Annual Report. Email correspondence was made between between 8 July – 3 August 2022 to seek further clarification. A reply was received on 3 August and information has been reflected in the table above. 

See How Top Glove Corporation Berhad Ranks Against The Other Top 19 Public-Listed Companies

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BURSA TOP 20: Who’s The most charitable?