Select one (1) industry or sector in Malaysia which you believe will be the most positively...

Select one (1) industry or sector in Malaysia which you believe will be the most positively or negatively affected by COVID-19 in year 2021? Justify the industry or sector selection with detail analysis (glove manufacturing industry).

Expert Solution

Answer :

The industry which will be positively affected in Malaysia is glove manufacturing industry. Specially rubber glove manufacturers in Malaysia are the world's biggest producer of medical gloves.They are reporting a surge in orders from Europe and the US as a result of the COVID-19 pandemic, Glove is a essential need for doctors and other health workers in there day to day work. Due to COVID-19 not only the doctors or medical staff even common people around the globe are using the gloves to protect themself from corona virus. With the rise in covid cases around the world higine and cleanliness has become the top priority for people around the globe due to this demand for gloves is rapidly rising.

Malaysia, is a country that produces about 65% of the world’s supply for rubber gloves, now counts at least four billionaires whose fortunes were made in the industry, including two new ones this year alone. Thai Kim Sim of Supermax Corp. was the latest to join the club, with a net worth estimated at about $1 billion at the stock high earlier this month, according to the Bloomberg Billionaires Index.

A jump in demand due to the coronavirus outbreak has propelled shares of companies making protective gear, suddenly turning the Southeast Asian nation into a hotspot for creating ultra-wealthy individuals within the sector. Top Glove Corp., the world’s biggest maker of the product, Hartalega Holdings Bhd. and Kossan Rubber Industries Bhd. have all benefited. But with a fivefold jump, Supermax’s ascent has been particularly notable this year.

Just like social distancing and temperature checks, wearing protective equipment has become the norm with the virus pandemic that has already killed more than 11,60,000 people worldwide as on 27 October 2020. Global demand for rubber gloves could grow by 11% this year, two-thirds of which is likely to come from Malaysia, the country’s rubber glove manufacturers association estimates.

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