HSBC reaffirms commitment towards Malaysian glove companies

As the demand for gloves grow exponentially globally, HSBC Malaysia is reaffirming their commitment towards supporting Malaysian glove companies.

“Malaysian glove companies are operating at full-capacity to meet the urgent need for medical gloves due to the pandemic. As the world’s largest medical glove supplier producing as many as three out of four gloves in the market, we have seen a steep increase in order and demand for gloves even as most of Malaysia’s economy remains
sluggish,” said Andrew Sill, Country Head of Commercial Banking, HSBC Malaysia.

Two exemplary cases of HSBC’s clients in glove manufacturing who have gone above and beyond during the pandemic are Latexx Manufacturing Sdn Bhd – Semperit Group (Latexx) and Supermax Corporation Berhad (“Supermax”). Latexx produces medical gloves and has exported more than 90 percent of its products overseas. Taking a more proactive step at home, Latexx has been supplying gloves to the local hospitals as part of their CSR initiative to help frontliners and fellow Malaysians. Latexx has also gone the extra mile by providing medical gloves to the business community around Taiping, Perak where it is located.

Supermax, an international manufacturer, distributor and marketer of high quality medical gloves donated and co-sponsored a total of 6 million gloves between March and April to hospitals and medical professionals to fight the Covid-19 pandemic.

“HSBC Malaysia banks 70% of the top glove manufacturers with some of our relationships dating back to 1997. As a longstanding partner to glove manufacturers, we have supported and journeyed with them through the ups and downs of the economy by providing them banking facilities and trade extensions as needed,” shared Andrew.

“The bank also stepped up during the early period of the Movement Control Order and enabled clients to continue to perform day-to-day transactions by accepting e-signatures and acknowledging documents in soft copies, while maintaining high level of service standards and security.”

“We have contributed RM1 million to the Association of Banks in Malaysia for Mercy Malaysia in aid of the health care system and those in need,” Andrew said.

In addition, HSBC has contributed approximately RM200,000 to various charities to support the low income earners in terms of necessities, income generation as well as providing aid to hospitals in the country that are committed to fighting the pandemic. At the same time, we at HSBC Malaysia are also working hand in hand to raise funds for the underprivileged
communities with necessities during this period,” added Andrew.

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