Top Glove Urges Pro-Business Budget 2026 to Curb Costs and Boost Competitiveness

SHAH ALAM, Oct 6 — Top Glove Corporation Bhd has outlined its wishlist for Malaysia’s Budget 2026, calling for measures to strengthen competitiveness, reduce costs, and sustain export growth amid rising global challenges.

The world’s largest glove manufacturer urged the government to avoid introducing new taxes, saying additional fiscal measures could strain businesses and slow economic growth. It also appealed for faster tax refunds and more inclusive incentives for export-oriented industries to boost job creation and foreign income.

Top Glove Budget 2026

Among its key proposals, Top Glove urged the cancellation of mandatory Employees Provident Fund (EPF) contributions for foreign workers, arguing that the new rule effective October 2025 would increase operational costs and administrative burdens. The company noted that countries such as Singapore, Thailand, and the UAE do not impose similar obligations.

It also called for greater flexibility in export allowances, a balanced approach to foreign worker recruitment, and incentives supporting ESG investments in green technologies and energy efficiency.

Top Glove said Budget 2026 should balance pro-growth and good governance measures to ensure Malaysia’s manufacturing sector remains globally competitive and sustainable.

Business News