Top Glove's stock hit by suit against Aspion's vendors

Singapore

TOP Glove Corporation alleged that based on an interim report by an independent accounting firm, there were overstatement of assets and overvaluation to the tune of RM714.9 million (S$240.3 million) in Aspion, a company that it had acquired from Adventa Capital in April this year.

Top Glove, the largest maker of rubber gloves in the world that is listed on the Malaysian and Singapore stock exchanges, said that it had undertaken its own investigations and hired an accounting…