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Malaysia's position in global competitiveness in the rubber glove manufacturing sector is declining due to the rise in cost that local glove makers are faced with.
Supermax Corp Bhd's executive chairman and group managing director Stanley Thai said that the rising cost is related to factors like the 16 percent hike in electricity tariff, companies practising minimum wage policies as well as the lost of the Generalised System Preference early this year.
"Factors like these make Malaysian-made products more expensive or less competitive as compared to neighbouring countries," he told reporters during a media briefing in conjunction with the InvestKL programme held in Kuala Lumpur on Tuesday.-Malaysian Reserve
NOTE: Reuters has not verified this story and does not vouch for its accuracy.