Malaysian state cargo carrier profits from soaring demand for medical gloves

Malaysia’s state-owned cargo carrier MAB Kargo has seen “impressive” profits since February, its CEO said, helped by the country’s role as the world’s biggest producer of medical gloves. The company raised freight rates by as much as 50% in some cases and added capacity on high-demand routes as it also saw high-volume shipments of face masks and medical gowns during the coronavirus pandemic, CE Ibrahim Mohamed Salleh said. The company declined to give profit figures. “We ran our numbers and it makes money,” Ibrahim said. Malaysia’s medical glove exports are expected to jump about 32% to 225b pieces this year, and its gloves association said supplies were being urgently air-lifted to Europe, Australia, Canada and America as customers did not want to wait for the usual sea route. MAB Kargo’s performance during the pandemic contrasts with sister company Malaysia Airlines which has been forced to ground most of its planes as the coronavirus hammered global travel. MAB Kargo typically contributes 10-15% towards the revenue of the holding company Malaysia Aviation Group, but has started contributing up to 25% in the past few months, Ibrahim said.<br/>