KUALA LUMPUR, Nov 7 — Malaysia's glove giants will contribute RM400 million towards government efforts to purchase Covid-19 vaccines and health equipment, Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz said yesterday.
The minister in his 2021 Budget announcement said the four major glove manufacturers - Top Glove Corporation Bhd, Hartalega Holdings Bhd, Supermax Corporation Bhd and Kossan Rubber Industries Bhd - had indicated their commitment to helping fight Covid-19.
The funds would be used to partially cover the cost of the Covid-19 vaccine as well as expenses for health equipment, he said.
The world's largest glove maker, Top Glove, which is eyeing a Hong Kong listing as it rides a wave of demand generated by the coronavirus outbreak, said it would contribute RM185 million.
"We are fortunate to be doing well this year and are very grateful for the opportunity to give back to and assist our country and government, which has been very supportive towards the glove industry," the company told Reuters in a text message.
Other companies could not immediately be reached for comment out of normal working hours.
Malaysia unveiled an expansionary budget to spur activity in an economy badly hit by the Covid-19 pandemic, amid uncertainty over the stability of the ruling coalition.
The budget, its biggest ever, sees the government proposing to raise the ceiling of Covid-19 fund by RM20 billion to RM65 billion.
Coronavirus vaccine supply is expected to cost more than RM3 billion, Tengku Zafrul said.
— Reuters
