Top Glove’s founder and executive chairman Lim Wee Chai revealed this yesterday.

Lim said the Malaysian company, which makes one of every four pairs of rubber gloves the globe uses, needed to pay more attention and put more effort into this.

The Nikkei Asian Review quoted Lim as saying that one of Top Glove’s options was to acquire a condom maker. He added: “We are looking into condom companies.”

Top Glove had RM378.5 million stashed away as of May 31 and is “hungry” for acquisitions, the report said.

The global contraceptives market was valued at USD19.7 billion in 2015 and is expected to reach USD25.5 billion by 2022, according to US-based Credence Research.

But Top Glove is not slowing down on its glove business. In fact, it intends to grow its glove business by adding capacity.

Top Glove on Tuesday made its debut on the main board of Singapore Exchange Securities, or SGX, opening at 1.62 Singapore dollars.

The secondary listing, which does not involve any issuance of new shares, is aimed at raising the group’s profile by expanding its investor base, according to the Nikkei Asian Review.

Lim and other Top Glove executives are to make available 12.8 million of their own shares, worth about S$20 million on the open market, over the next 12 months.

Singapore was chosen for the listing due to its proximity to Malaysia and a trading link mechanism that smoothens the clearance and settlement processes.

“Aside from giving us access to the Singapore market, we view (the listing) as an opportunity to upgrade our quality, image and branding in the global arena,” Lim said.

Top Glove produces 44.6 billion gloves a year at 27 factories in Malaysia, Thailand and China. Natural rubber gloves account for about 60 per cent of the total, while nitrile synthetic rubber gloves make up of 30 per cent.