Highlights

gloveharicut

Author: gloveharicut   |   Latest post: Thu, 21 Jan 2021, 2:49 PM

 

TOPGLOV annual production capacity hit 91 billion pieces

Author: gloveharicut   |  Publish date: Thu, 21 Jan 2021, 2:49 PM


 

{{{PM me to join GLOVE Private Discussion Room}}}

I invite you to read my blog and make a smart GLOVE decision.

https://klse.i3investor.com/blogs/gloveharicut/blidx.jsp

 

I am not sure the vaccine is useful or not. CEO have better answer.

Do you have to wear GLOVES to give a vaccine shot?

I am holding my GLOVES. I will only sell when ASP come down but not stock price come down.


I buy vaccine logistic by using the GLOVEs profit as hedging to vaccine news.

 

I am reproducing The Edge article to my blog.

This post don't have any value added content.

Compile here for my own record.

Please skip if you don't like it.



https://www.theedgemarkets.com/article/latest-presentation-top-glove-says-annual-production-capacity-hit-91-billion-pieces

 

In latest presentation, Top Glove says annual production capacity hit 91 billion pieces

 
In latest presentation, Top Glove says annual production capacity hit 91 billion pieces

KUALA LUMPUR (Jan 21): Top Glove Corp Bhd said its annual rubber glove production capacity had reached 91 billion pieces as at January 2021 as demand for gloves continued to be strong despite the availability of vaccines to curb the Covid-19 pandemic.

According to notes in Top Glove’s latest presentation, the world’s largest rubber glove manufacturer in terms of production capacity expects to have an annual output capacity of 110 billion gloves by December 2021 as the company adds new capacity of 19 billion pieces of gloves for the year.

"Post Covid-19 with vaccines available, we expect glove usage to be stronger than the pre-Covid-19 era due to increasing healthcare and hygiene awareness.

“[Glove] ASPs (average selling prices) will be adjusted to reflect the demand and supply situation,” Top Glove said.

Top Glove said its current annual production capacity of 91 billion pieces gloves had been achieved via collective output across the group’s 36 glove factories out of the company’s total of 47 factories.

According to the company, the 36 glove factories have a combined 762 equivalent single former lines to produce such a number of gloves in a year.

Out of the 36 factories, 32 are located in Malaysia, two in Thailand and one each in China and Vietnam, according to Top Glove, which also produces dental dams, condoms and masks at its other factories.

Looking ahead, Top Glove said the targeted annual production capacity of 110 billion pieces of gloves by December 2021 is expected to be achieved via collective output across 39 glove factories, with a combined 885 equivalent single former lines.

"30% of production capacity [is] allocated for spot orders,” the company said.

At Bursa Malaysia's 12.30pm break today, Top Glove's share price had fallen eight sen or 1.3% to RM6.06, with a market capitalisation of about RM49.69 billion.

Its latest reported number of issued shares stood at around 8.2 billion.

 

Labels: TOPGLOV
  Be the first to like this.
 

GLOVEs rebound on expanded MCO

Author: gloveharicut   |  Publish date: Wed, 20 Jan 2021, 12:50 PM


 

{{{PM me to join GLOVE Private Discussion Room}}}

I invite you to read my blog and make a smart GLOVE decision.

https://klse.i3investor.com/blogs/gloveharicut/blidx.jsp

 

I am not sure the vaccine is useful or not. CEO have better answer.

Do you have to wear GLOVES to give a vaccine shot?

I am holding my GLOVES. I will only sell when ASP come down but not stock price come down.


I buy vaccine logistic by using the GLOVEs profit as hedging to vaccine news.

 

I am reproducing The Edge article to my blog.

This post don't have any value added content.

Compile here for my own record.

Please skip if you don't like it.

 

https://www.theedgemarkets.com/article/glove-counters-rebound-expanded-mco

Glove counters rebound on expanded MCO

 
Glove counters rebound on expanded MCO

KUALA LUMPUR (Jan 20): Glove makers rebounded this morning as buying interest returned following the enforcement of the movement control order (MCO) in six more states in Malaysia as the number of coronavirus cases showed increasing trends. 

The share price of Top Glove Corp Bhd, the world’ largest glove manufacturer, surged as much as 2.45% or 15 sen to RM6.28, before paring some gains at RM6.21 with 7.82 million shares traded at 11am for a market capitalisation of RM50.93 billion.

Top Glove shares rebounded today after declining for two consecutive trading days, following news of the group’s workers across four factories in Port Dickson, Sungai Puloh, Kulim and Shah Alam having tested positive for Covid-19 last Saturday (Jan 16).

Previously, RHB Research said in a note dated Jan 18 that Top Glove shares are trading at an unprecedented low price-to-earnings ratio (PER) of 4.9 times based on estimated earnings for the current financial year ending Aug 31, 2021, and deemed the selling of the stock to be overdone. 

Similarly, shares of Supermax Corp Bhd — which fell for the past two straight days to RM6.34 yesterday from RM6.70 on Jan 15 — also rebounded to RM6.38 after 7.61 million shares were transacted. Earlier, the counter surged as much as 3.47% or 22 sen to RM6.56. At the current price, it has a market value of RM17.36 billion.

Kossan Rubber Industries Bhd, which saw its share price continuously headed south in the past five trading days from RM4.56 on Jan 12 to RM4.07 yesterday, also followed its peers' upward momentum today as its share price rose 0.74% or three sen to RM4.10, giving it a market capitalisation of RM10.49 billion The stock saw 2.63 million shares traded.

The buying interest also spilt over to Hartalega Holdings Bhd as its share price rose 0.16% or two sen to RM12.22 — after gaining as much as 2.13% or 26 sen to RM12.40 from the earlier session — bringing it a market capitalisation of RM41.89 billion. There were 1.44 million shares traded. Prior to this, the stock closed down 1.29% or 16 sen at RM12.20 yesterday from RM12.36 in the previous session.

RHB Investment Bank Bhd yesterday maintained its “buy” rating of Hartalega at RM12.36 with a target price of RM23.50, and said it expects Hartalega’s earnings for the third quarter ended Dec 31, 2020 (3QFY21) to surge 643% year-on-year and 65% quarter-on-quarter (q-o-q) to RM900 million.

In a note, RHB’s Alan Lim said this was driven by an average selling price increase estimated at 50% q-o-q.

"On top of superb earnings, we like Hartalega for its gold standard in Covid-19 prevention among its workers," he said.

Yesterday, Senior Minister (Security Cluster) Ismail Sabri Yaakob announced six more states, namely Kedah, Perak, Negeri Sembilan, Pahang, Terengganu and Perlis, will be placed under the MCO starting Jan 22 (Friday) until Feb 4, 2021.

Following this, all Malaysian states, excluding Sarawak, will be undergoing the MCO.

Malaysia recorded a total of 3,631 new Covid-19 cases yesterday, marking the sixth straight day of over 3,000 infections. The total number of infections now stands at 165,371, with a death toll of 619.

 

  Be the first to like this.
 

Top Glove says Canadian TV report is ‘thoroughly misleading’

Author: gloveharicut   |  Publish date: Tue, 19 Jan 2021, 8:30 AM


 

{{{PM me to join GLOVE Private Discussion Room}}}

I invite you to read my blog and make a smart GLOVE decision.

https://klse.i3investor.com/blogs/gloveharicut/blidx.jsp

 

I am not sure the vaccine is useful or not. CEO have better answer.

Do you have to wear GLOVES to give a vaccine shot?

I am holding my GLOVES. I will only sell when ASP come down but not stock price come down.


I buy vaccine logistic by using the GLOVEs profit as hedging to vaccine news.

 

I am reproducing FMT article to my blog.

This post don't have any value added content.

Compile here for my own record.

Please skip if you don't like it.

 

https://www.freemalaysiatoday.com/category/nation/2021/01/18/top-glove-says-canadian-tv-report-is-thoroughly-misleading/

Top Glove says Canadian TV report is ‘thoroughly misleading’

Top Glove Corporation said the Canadian report had excluded remedial action taken by the company. (Bernama pic)

PETALING JAYA: Top Glove Corporation has denied allegations in a Canadian television report which showed unsafe working and poor living conditions of employees at its factories. The company said the report was “thoroughly misleading”.

It said the allegations and the manner they were presented were thoroughly misleading and damaging to the company’s reputation for suggesting a breach in the implementation of existing policies.

It said the report by the Canadian Broadcasting Corporation (CBC) had intentionally downplayed or excluded the most current remedial actions taken by Top Glove, which included the company’s commitment to combating forced labour and its current implementation of “robust policies” to protect the rights of its workers.

CBC’s Marketplace programme said last Friday that a camera had been smuggled into a factory with the help of a Top Glove employee. The footage supported the employee’s claims of unsafe working conditions and hot, cramped living conditions, CBC said.

Top Glove also said it was “extremely disappointed” that its remedial actions were not comprehensively published and fairly represented in the CBC’s main video.

The company said its factories in Meru, Klang, had been reopened with reinforced health and safety measures and an emphasis on education and adherence to Covid-19 protocols, after closures in November and December.

Top Glove reiterated it had zero tolerance for any form of violence, harassment, or abuse of workers and said it had relocated about 2,000 workers to a new hostel accommodation in Klang.

 

Labels: TOPGLOV
  Be the first to like this.
 
issac99289928 New Zealand,UK,US and CANADA are members of the Five Eyes . they are probably trying to punish TOPGLOVE and SIME palm oil for political reasons. probably nothing to do with labour issues.
19/01/2021 4:11 PM
issac99289928 The "Five Eyes" is an intelligence-sharing alliance consisting of five "Anglo-Saxon" countries.
19/01/2021 5:26 PM

RHB: TOPGLOV valuation at unprecedented low

Author: gloveharicut   |  Publish date: Mon, 18 Jan 2021, 2:33 PM


{{{PM me to join GLOVE Private Discussion Room}}}

I invite you to read my blog and make a smart GLOVE decision.

https://klse.i3investor.com/blogs/gloveharicut/blidx.jsp

 

I am not sure the vaccine is useful or not. CEO have better answer.

Do you have to wear GLOVES to give a vaccine shot?

I am holding my GLOVES. I will only sell when ASP come down but not stock price come down.


I buy vaccine logistic by using the GLOVEs profit as hedging to vaccine news.

 

I am reproducing The Edge article to my blog.

This post don't have any value added content.

Compile here for my own record.

Please skip if you don't like it.

https://www.theedgemarkets.com/article/top-glove-valuation-unprecedented-low-%E2%80%94-rhb-ib

Top Glove valuation at unprecedented low — RHB IB

Top Glove valuation at unprecedented low — RHB IB

KUALA LUMPUR (Jan 18): Top Glove Corp Bhd shares are trading at an unprecedented low price-to-earnings ratio (PER) of 4.9 times based on estimated earnings for the current financial year ending Aug 31, 2021 after what analysts believe was overdone selling on the stock as investors weighed the rubber glove manufacturer’s outlook against the global Covid-19 pandemic and usage of vaccines to curb the spread of the outbreak.

In a note today, RHB Investment Bank Bhd's (RHB IB) Alan Lim wrote that at Top Glove’s last closing share price of RM6.42, the stock's price has declined by 33% from its recent peak. 

"With long-term glove demand growth remaining intact — even after Covid-19 ends — we believe that the selling on Top Glove shares is overdone. 

"Recall that in 2011, after H1N1 ended, glove demand declined by only 1% year-on-year (y-o-y), and resumed its growth until today,” Lim said.

According to Lim, Top Glove’s FY21 estimated PER has fallen to 4.9 times from 143.86 and 32.68 times in FY19 and FY20 respectively.

He said today the risks to Top Glove’s outlook include worse-than-expected glove demand after the Covid-19 pandemic ends, lower-than-expected sales volume, stronger ringgit against the US dollar and higher-than-estimated raw material prices.

Quoting Top Glove’s Saturday (Jan 16) statement that some of its employees in four of the glove manufacturer's factories had recently tested positive for Covjd-19, Lim said today the news is negative on the stock.

"Our (Top Glove share) TP (target price) drops to RM8.45 (from RM9.50) after we inputted a 10% operating risk discount. Some Top Glove employees at four of its factories have been tested positive for Covid-19. 

"This is negative for the stock, due to operational risks if some of its factories are shut down temporarily. Separately, the company has increased its FY21 dividend payout ratio to 70% recently, which is good news for investors.

"Despite the reduction in our TP, Top Glove is still undervalued,” Lim said.

On Saturday (Jan 16), Top Glove said some of its employees in four of its factories had recently tested positive for Covid-19 and that the company wished to assure its stakeholders that the group was doing its utmost to ensure the continued safety and well-being of its employees, and to mitigate the spread of the pandemic.

Top Glove, which did not specify the number of employees who tested positive for Covid-19, said they included workers involved in the group’s operations at Port Dickson in Negeri Sembilan besides Klang and Shah Alam in Selangor and Kulim in Kedah.

"All employees at our facility in Port Dickson had gone for screening with the Ministry of Health on Jan 14, 2021, and the affected employees are currently under quarantine. Foreign workers who are under quarantine are in designated quarantine quarters, while Malaysian staff are undergoing the quarantine period at home.

"Top Glove is also arranging for the employees at our factory in Sungai Puloh, Klang to undergo mass screening today (Jan 16). For another two facilities where there have been some cases, in Kulim and in Shah Alam, contact tracing and screening of close contacts [are] underway, regardless of whether or not the employees are displaying symptoms,” Top Glove said.

At Bursa Malaysia’s 12:30pm break today, Top Glove’s share price fell eight sen or 1.25% to RM6.34, which values the company at about RM51.99 billion.

Top Glove’s latest-reported number of issued shares stood at some 8.2 billion.



 

 

Labels: TOPGLOV
  lqy699300lkk likes this.
 
lqy699300lkk very informative
19/01/2021 8:40 PM
newbie8080 Unprecedented under value but offer downgrade TP from RM9.50 to RM8.45.
A foolish analyst indeeed.
20/01/2021 10:37 AM

Canadian TV shows secret camera footage from Top Glove factory

Author: gloveharicut   |  Publish date: Mon, 18 Jan 2021, 10:32 AM


{{{PM me to join GLOVE Private Discussion Room}}}

I invite you to read my blog and make a smart GLOVE decision.

https://klse.i3investor.com/blogs/gloveharicut/blidx.jsp

 

I am not sure the vaccine is useful or not. CEO have better answer.

Do you have to wear GLOVES to give a vaccine shot?

I am holding my GLOVES. I will only sell when ASP come down but not stock price come down.


I buy vaccine logistic by using the GLOVEs profit as hedging to vaccine news.

 

I am reproducing FMT article to my blog.

This post don't have any value added content.

Compile here for my own record.

Please skip if you don't like it.

 

https://www.freemalaysiatoday.com/category/nation/2021/01/17/canadian-tv-shows-secret-camera-footage-from-top-glove-factory/

Canadian TV shows secret camera footage from Top Glove factory

A photo posted by CBC News taken from secret camera footage of cramped production lines, deplorable living conditions and crowded Covid-19 testing areas. (CBC photo)

PETALING JAYA: Hidden camera footage from an undercover check inside a Top Glove factory has been screened on a Canadian television report which said that it showed unsafe working and poor living conditions of employees, which could be described as “appalling”.

CBC said its Marketplace programme had smuggled a camera into the factory with the help of a Top Glove employee.

The footage supports the employee’s claims of unsafe working conditions and hot, cramped living conditions. In the hostels, up to 25 people slept in one room, often on the floors. They shared a bathroom that was used for everything from bathing to cleaning vegetables, the TV station said.

It also showed that the production line, comprising mainly migrant workers, was cramped and failed to comply with Covid-19 prevention rules.

There were also videos of workers doing electrical repairs or handling chemical substances without any safety equipment on.

Soon after the videos came to light, the glove company was forced to shut down its production following a Covid-19 outbreak that resulted in more than 6,000 cases, CBC said.

The report said a video provided to CBC showed workers crowding together to get tested with little physical distancing. Workers in dormitories could be seen taking a shower next to piles of garbage.

CBC also interviewed 23 current and former migrant workers who told various stories of alleged exploitation such as situations of debt bondage, deceptive recruiting practices, passport retention, excessive overtime, abusive workplaces and deplorable living conditions.

“The company does not care (about its employees). If we complain to a higher authority, then the company will be forced to take care of us,” an employee said.

Some employees said they couldn’t leave their jobs despite the health risks. They say they have significant debt — often borrowed at the hands of unscrupulous lenders — having paid recruitment agencies massive fees to line them up for their jobs.

“I don’t have any choice, I have to work (to pay off my debt),” another worker from Bangladesh told the Marketplace programme.

 

Further Reading: Top Glove says Canadian TV report is ‘thoroughly misleading’

Labels: TOPGLOV
  Be the first to like this.
 
michaeso Good luck everyone
18/01/2021 7:17 PM
LaoTzeAhSir Canadian TV collaborating with the evil shortists you mean? bunch of shameful hypocrites and retards
18/01/2021 11:01 PM
goldenluck16 Top Glove says Canadian TV report is ‘thoroughly misleading’

https://www.freemalaysiatoday.com/category/nation/2021/01/18/top-glove-says-canadian-tv-report-is-thoroughly-misleading/
18/01/2021 11:02 PM
ks5S the canadian tv report one sided. Also unethical also... smuggled camera into people property to get news... can sue them kaw-kaw this lanjio reporter.
18/01/2021 11:19 PM
gemfinder https://klse.i3investor.com/blogs/gloveharicut/2021-01-18-story-h1539385309-Canadian_TV_shows_secret_camera_footage_from_Top_Glove_factory.jsp
18/01/2021 11:31 PM
ks5S gemfinder is the bangla in the news crying papa mama claim top glove bully him
18/01/2021 11:40 PM
ks5S papa mama top glove never give me milk to drink.... bangla gembaby crying
18/01/2021 11:43 PM
ks5S this bangla must kena slap kaw kaw by the famous dato and his gang.
18/01/2021 11:46 PM
ks5S the famous dato should be hired by top glove to teach all this bangla so that they duduk diam diam diam
18/01/2021 11:56 PM
issac99289928 New Zealand,UK,US and CANADA are members of the Five Eyes . they are probably trying to punish TOPGLOVE and SIME palm oil for political reasons. probably nothing to do with labour issues.
19/01/2021 4:12 PM
leeruzi7 almost every month got new attack top gloves.. tan sri kasi sue them damaging your company reputation
19/01/2021 5:48 PM

Top Glove says employees in four factories test positive for Covid-19

Author: gloveharicut   |  Publish date: Mon, 18 Jan 2021, 10:30 AM


{{{PM me to join GLOVE Private Discussion Room}}}

I invite you to read my blog and make a smart GLOVE decision.

https://klse.i3investor.com/blogs/gloveharicut/blidx.jsp

 

I am not sure the vaccine is useful or not. CEO have better answer.

Do you have to wear GLOVES to give a vaccine shot?

I am holding my GLOVES. I will only sell when ASP come down but not stock price come down.


I buy vaccine logistic by using the GLOVEs profit as hedging to vaccine news.

 

I am reproducing The Edge article to my blog.

This post don't have any value added content.

Compile here for my own record.

Please skip if you don't like it.

 

https://www.theedgemarkets.com/article/top-glove-says-employees-four-factories-test-positive-covid19

Top Glove says employees in four factories test positive for Covid-19

 
Top Glove says employees in four factories test positive for Covid-19

KUALA LUMPUR (Jan 16): Top Glove Corp Bhd, which has had half its production capacity halted for over a month in November due to a severe Covid-19 outbreak among its workers, today said several more across four factories in Port Dickson, Sungai Puloh, Kulim and Shah Alam have tested positive for Covid-19.

In a statement today, the group said all employees at its facility in Port Dickson had undergone screening with the Ministry of Health (MoH) on Jan 14, 2021, and that the affected employees are currently under quarantine.

The glove maker, however, did not specify how many were infected, other than noting that the foreign ones have been placed in designated quarantine quarters, while the locals have been quarantined at home.

The group was previously ordered to suspend operations at 28 of its factories in Klang, after a couple of thousands of workers were reportedly infected by the coronavirus. These factories then gradually resumed operations, with the group announcing just 10 days ago that full capacity had been restored. The production halt was expected to affect about 4% of the company’s revenue for this financial year ending Aug 31, 2021 (FY21).

“Top Glove is also arranging for the employees at our factory in Sungai Puloh, Klang to undergo mass screening today. For another two facilities where there have been some cases, in Kulim and in Shah Alam, contact tracing and screening of close contacts is underway, regardless of whether or not the employees are displaying symptoms,” Top Glove further said in its statement today, adding all related costs will be borne by the group.

Meanwhile, it said all primary contacts of the affected employees over the past 14 days have been identified and placed under quarantine and will undergo subsequent tests before they are permitted to return to work. Thorough disinfection of all areas has also been carried out by a third-party service provider.

“The board of directors of Top Glove is closely monitoring the situation and in constant discussion with the management team on development and updates of all employees involved, on a daily basis.

“Top Glove reiterates that the health and safety of its employees is a top priority. As the company continues to produce high-quality medical gloves to protect medical practitioners and frontliners across the world, we are dedicated to adhering to stringent measures to safeguard our employees as well as the communities we serve,” the group added.

 

Labels: TOPGLOV
  Be the first to like this.
 
Goldberg Gloveharicut, are you another JPM Troll?
18/01/2021 10:40 AM
gloveharicut I am a glove investor.



Compile here for my own record.

Please skip if you don't like it.
18/01/2021 11:01 AM
gloveharicut JPM Troll?

Read my blog & portfolio

https://klse.i3investor.com/blogs/gloveharicut/blidx.jsp

https://klse.i3investor.com/servlets/pfs/166413.jsp
18/01/2021 3:02 PM


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
View Trading Signals and run Live Backtest
MQ Affiliate
Earn rewards with MQ Affiliate Program
 
 

321  714  537  547 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 DNEX 0.255+0.03 
 HPPHB 0.74+0.03 
 LAMBO 0.030.00 
 AT 0.18+0.005 
 VSOLAR 0.04+0.005 
 PNEPCB 0.305-0.025 
 FINTEC 0.08+0.005 
 DNEX-WD 0.045+0.01 
 KSTAR 0.255-0.065 
 XOX 0.0950.00 

FEATURED POSTS

1. The Equity Market Index Benchmark in Malaysia CMS
2. Trading Scenarios of Derivatives Bursa Derivatives Education Series
3. Derivatives 101 Bursa Derivatives Education Series
4. Why Trade FKLI? Bursa Derivatives Education Series
5. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!
PARTNERS & BROKERS