U.S. Customs issues detention order on imports of goods made by Malaysia's Top Glove
The CBP website showed Top Glove Sdn Bhd and TG Medical Sdn Bhd were placed on its list on Wednesday but there was no statement explaining the action.
The U.S. Customs and Border Protection (CBP) has enforced a detention order on subsidiaries of the world’s largest medical glove maker Top Glove Corp Bhd (TPGC.KL), an action intended to halt importation of goods from companies suspected of using forced labour.
The action by Customs comes at a time when demand for the medical gloves and protective gear has skyrocketed due to the coronavirus pandemic, which has hit the United States harder than any other country.
The CBP website showed Top Glove Sdn Bhd and TG Medical Sdn Bhd were placed on its list on Wednesday but there was no statement explaining the action.
Top Glove, which also has production facilities in China and Thailand, did not immediately respond to a request for comment, while a query reached CBP outside its office hours.
Top Glove’s share price now down 2.57% by early afternoon on Thursday, but it has risen over 350% this year.
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