What is Supermax's Stanley Thai up to?

By ZAIDI ISHAM ISMAIL
editor@dagangnews.com

KUALA LUMPUR Dec 8 – Before COVID-19 struck in late 2019, Supermax Corp Bhd was just like any other company.

Founded by Datuk Seri Stanley Thai, the company was going about its business just like in any other day.

But who would have thought that the fortune of the world's second largest rubber glove producer would change literally overnight?

From an already profitable firm, Supermax along with Top Glove Corp Bhd, Hartalega and others catapulted to join the billionaires' club.

In 2020 and this year, these companies continue to rake in profit by the billions of Ringgit.

COVID-19 is still rearing its ugly head and for as long as it’s around, Supermax will continue to soar.

But Thai has been relatively silent since then? What has he been up to?

Last month, after a long absence, Thai returned into the limelight when the firm announced Thai as its new executive chairman effective today taking over from Albert Cheok.

It's not exactly a new appointment for Thai as he was the captain of the company circa 2000-2005 and now, he has returned to take charge.

In a rare interview with the media, The Edge's WhatsApp-ed Thai recently on his plans going forward.

The usually outspoken Thai only answered by sending three emojis.

It's not immediately known what Thai has in store but analyst said he would embark on a few issues which need his immediate attention.

Cleaning up the firm

Analysts said Supermax along with some other rubber glovemakers in the country must clean up their houses.

For the past several months, several rubber gloves companies were barred from exporting their rubber gloves into the US for alleged labour and human rights infringements on their foreign workers.

These allegations are serious as it will have long term implications on both Malaysia and the companies as well as hard to get rid stigma on the company's reputation.

Enhancing and optimising operations

Since its establishment in 1987, Supermax is now the world's second largest rubber glove players with 12 manufacturing plants in Malaysia.

An analyst at Permodalan Nasional Berhad said Thai would want to take a look at beefing up operations now that COVID-19 is still at its peak.

"Supermax has eight overseas distribution centers and to beef up profit, maybe Supermax can set up new distribution centers," the analyst told DagangNews.com.

The company's distribution centres right now are in the US, Canada, Brazil, United Kingdom, Ireland, Hong Kong, Japan and Singapore.

Diversify, don't put all eggs in one basket

Supermax should also take cognisance with what happened to hotels and the aviation sector during this pandemic.

Perhaps, Supermax should diversify or buy stakes in technology or logistics firms to ensure its long-term survival as well as maintain shareholders' value. –

 DagangNews.com