Interested to see this recent move by the Norwegian Fund to put Malaysia’s Supermax Corp glove company under observation, as reported by Reuters today/below.
Also see https://www.nbim.no/en/the-fund/news-list/2022/decisions-on-observation-and-exclusion2/ for the official release/documents of Norges Bank issued yesterday.
The move by the Fund comes 30 months after I first engaged them (in Dec 2019) on serious allegations of forced labour at Supermax, as reported by workers back then.
Finally, when things seemingly are starting to improve considerably at the company, then the Fund now moves to put the company under observation and raise the issue publicly.
In my personal opinion, this is a questionably delayed action, which perhaps shows a concerning and significant time lag in the reaction of major investors like the Norwegian Fund to serious forced labour issues in their investment portfolio.
Victims of serious forced labour around the world need and deserve more prompt investor action than we see here by the Norwegian Fund in the case of Supermax.
See Reuters story at https://t.co/XYhf2YVHp7