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Malaysia’s super-rich, hard hit by the market following the outbreak of Covid-19, saw billions being wiped out of their fortunes. On the other hand, entrepreneurs involved in the making of rubber gloves minted more money, while new billionaires emerged from the tech manufacturing sector as shares of their companies soared in 2020. THE outbreak of the Covid-19 pandemic in 2020 has delivered a brutal hand to the country’s economy, bringing unprecedented challenges to the general public and corporate sector. And if this may offer some consolation amid the plunging values of your retirement and savings accounts, some of Malaysia’s wealthiest individuals have lost lots of money too, a survey on Malaysia’s 40 Richest individuals for 2020 showed. ....
SINGAPORE-listed Riverstone Holdings Ltd may not be a popular stock among local investors here, but the Malaysia-based nitrile cleanroom glove maker is actually one of the world’s largest listed glove companies in terms of revenue after the Big Four. Headquartered in Bukit Beruntung, Selangor, Riverstone also operates manufacturing facilities in Taiping, Perak, which is its main and largest plant, as well as in Thailand and China. At a time when most glove makers and new entrants are ramping up production capacity aggressively, Riverstone executive chairman and CEO Wong Teek Son says the group has decided to expand conservatively and responsibly. ....