"With a 25% tariff imposed on estimated China glove ASP of US$19 to US$20 per 1000 pieces by 2026 (current ASP: US$17), Malaysian glove makers are likely able to command ASPs of US$24 to US$25 per 1,000 pieces while maintaining an optimal utilisation rate of over 90%," said UOBKH Research. In another development, the research house said Top Glove's Turnaround Plan (T6) is on track. Top Glove recorded RM54mil in gains from land bank disposal in 3Q24, which was part of its Top Glove's T6. The plan entailed the disposal of RM300mil in non-core land bank, with RM250mil completed. "Of the RM250mil, about RM200mil had been realised as of 3Q24, with another RM50mil will be further realised in 4Q24. "We understand that the proceeds will be set aside for the group to partially retire its RM1.18bil sukuk loans, while the remaining will be refinanced later," the research house noted.