Highlights
KLSE: RUBEREX (7803)       RUBBEREX CORP (M) BHD MAIN : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
0.62   +0.03 (5.08%)  0.58 - 0.635  20,452,100
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Overview

Market Cap: 568 Million
NOSH: 916 Million
Avg Volume (4 weeks):12,322,400
4 Weeks Range:0.575 - 0.81
4 Weeks Price Volatility (%):
19.15%
52 Weeks Range:0.575 - 8.26
52 Weeks Price Volatility (%):
0.59%
Average Price Target: 0.67
Price Target Upside/Downside: +0.05

Financial Highlight

Latest Quarter | Ann. Date 30-Jun-2021 [#2]  |  27-Aug-2021
Next QR | Est. Ann. Date: 30-Sep-2021  |  20-Nov-2021
T4Q P/E | EY: 2.27  |  44.08%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 0.5717  |  1.08
T4Q NP Margin | ROE: 40.77%  |  47.80%

Headlines

Date Subject
30-Aug-2021 PublicInvest Research Headlines - 30 Aug 2021
13-Aug-2021 Mplus Market Pulse - 13 Aug 2021
22-Jun-2021 PublicInvest Research Headlines - 22 Jun 2021
22-Jun-2021 Mplus Market Pulse - 22 Jun 2021
04-Jun-2021 Rubber Glove Exports Rise Additional 4.75% M-o-M, 238% Y-o-Y in April
31-May-2021 RUBEREX (7803) A Hidden Gem with a Secret Weapon - Massive Capacity Expansion!
31-May-2021 Mplus Market Pulse - 31 May 2021
31-May-2021 PublicInvest Research Headlines - 31 May 2021
20-May-2021 Stocks on Radar - Rubberex Corporation (M) (7803)
29-Apr-2021 Glove stock prices are surely dropping - Koon Yew Yin
28-Apr-2021 Rubber Product Exports Rise 9.6% M-o-M, 210% Y-o-Y in March
27-Apr-2021 Trading Stocks - Rubberex Corporation
12-Apr-2021 4亿扩28条生产线 来百利产能将增3倍
10-Apr-2021 套利回吐 7手套股蒸发40亿
06-Apr-2021 卖空压力难消 手套股反弹难持久
18-Mar-2021 来百利上挑RM1.30/敏源
09-Mar-2021 GLOVEs buoyed by Top Glove's strong 2Q performance
03-Mar-2021 [转贴] [Video:浅谈RUBBEREX CORP (M) BHD, RUBEREX, 7803] - James的股票投资James Share Investing
25-Feb-2021 How low are GLOVEs compared with bullish analysts’ target prices?
25-Feb-2021 Mplus Market Pulse - 25 Feb 2021

Business Background

Rubberex Corp (M) Bhd is principally involved in an investment holding. The company through its subsidiaries manufactures and sells rubber gloves. The company offers a wide range of industrial and safety gloves, nitrile gloves, household rubber gloves and disposable vinyl and nitrile gloves. It operates in three principal geographical areas - Europe, North and South America, Asia and rest of the world. Europe contributes the vast majority of total revenue.
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  10 people like this.
 
TheContrarian Rubberex can buy back up to around 91.5 million shares
22/09/2021 4:39 PM
Stockhunter88 Need to goreng back to please pp investor?
22/09/2021 5:36 PM
TheContrarian Expansion plans can always be scaled back and the excess money raised from the private placement can be used for share buy back.
22/09/2021 5:43 PM
Kingbeast Wow Ruberex management suddenly SBB - is it a good sign to enter now? Or not yet?
22/09/2021 6:24 PM
TheContrarian Rubberex has lots of cash to do SBB and will probably go on buying back shares everyday until price goes above 80 sen at least. Short sellers gonna incur huge losses if they don't cover their short position.
22/09/2021 6:40 PM
Kingbeast They do SBB but no dividend. Not sure if SBB is the right move or not
22/09/2021 6:55 PM
TheContrarian It's the best move.
22/09/2021 7:01 PM
Kingbeast What makes u say that?
22/09/2021 7:07 PM
TheContrarian What I say or think doesn't matter. It's what you think and believe.
22/09/2021 7:18 PM
Kingbeast I want to know what u think this way. That’s all. I will think and believe later. Thanks
22/09/2021 8:01 PM
TheContrarian SBB done at a price below NTA will enhance the NTA for the remaining shareholders. The BOD/Management was very patient waiting for the price to drop to below 60 sen before starting to do the SBB. As the Company has lots of cash it can do the SBB in the sustainable manner, buying at 6-8 million shares daily. The Company can buy up to slightly above 90 million shares. A sustainable SBB would mean price will tend upwards. Margin calls will ease, forced selling will ease, short sellers will have to cover their short position.
22/09/2021 8:13 PM
Kingbeast Thank you for your kindness
22/09/2021 8:19 PM
TheContrarian You are welcome but don't put all your money into one counter. Diversify into a portfolio of 15 to 20 counters.
22/09/2021 8:47 PM
keown83 The graph that every glove investor didn't want to approve & believe but seems like true after all;

https://cdn.thestar.com.my/Content/Images/rubber_glove_pic1.jpg
22/09/2021 9:53 PM
keown83 the signal is clear; demand are dropping, worldwide player's production were ramping up, & there's no turning back
yes, there will be a dead cat bounce, but that's all & that's it, it will only be dead cat bounce..it will not going to be like last year's super rally

short selling end is only an event that stop the huge dropping, but it didn't necessarily mean that super rally is on the way next
22/09/2021 9:56 PM
keown83 so prepare to get enjoy the next dead cat bounce, but don't expect it will be like previous super rally
22/09/2021 9:57 PM
Kingbeast Keown83 - agreed. Let’s see. Anyway, glove is almost the bottom. Let’s see and hope Malaysia glove will advance better than other country. Don’t make China overtake us. It doesn’t matter share price of glove up or not. No one will know what is going to happen in the future
22/09/2021 10:12 PM
keown83 @Kingbeast soon the ASP will be lower until the profit margin will be quite thin for those small player..soon this business will be a cutthroat business, so only those who have the best product, the bigger footprint, the most recognised that will survived..but all those small players will soon perished gradually just as good as demand fading away..US & Europe might avoid China's glove due to various reason so their options will be Malaysia as Malaysia have been the major producer & keep maintaining the product's quality over China option..but only those who have access to US & Europe market will survive the most while China producer might entering 3rd world market for cheaper glove market & that is where our laggard producer will have to play too..rubberex might have some access to Europr through their Spain branch but i don't think they can cater a huge demand as Rubberex didn't even expand their network there
22/09/2021 10:21 PM
keown83 so we should never only rely on financial calculation as that number can move from good to bad or vice-versa anytime soon when sentiment changed...put your learn also on the sentiment, learn where world is heading to & how it affect certain sector
22/09/2021 10:24 PM
skcm2017 roll-on. started bought since yesterday. SBB for 3 days consecutively? many reasons. but with the profitable company...
I skip when people wrote.."I think., I don't think"..hahaha
23/09/2021 7:09 AM
John1234 From the way we look at it, keown83 must have done a lot of homework on the gloves sector since the Covid-19 pandemic of last year. So, there is no doubt that he would have been one of those that were riding on the super bull run of last year, much like skcm2017(with a 7-digit profit gain), but probably with a much lower gain.

Well, that was in the past and investors nowadays are fully aware that they could not expect any supernormal profit from any glove company this year or beyond, until the next pandemic strikes.

Coming back to the subject of SBB, it just goes to illustrate the concept of "cash is king during depressed times". While I may not feel it is a good idea to go full scale on SBB to fight against shorties or the Rubberex operator, it does enhance the shareholders' value to the extent that the share price does not fall too much lower. This could also give any existing shareholder a choice to exit the counter at a much higher market price, if deemed necessary.

Comfort is just another glove counter where its current market price is trading at below its NTA per share(as at last quarter's report). Some of the "dividend" investors got very unhappy with its 2 sen interim dividend announcement and the share price just drifted lower without support from SBB currently.

My reply is simply focussed on the impact of SBB on a company's share price. It should not be construed as an endorsement to buy or sell on Rubberex. Please do your own homework.
23/09/2021 8:13 AM
Stockhunter88 Sbb again today?
23/09/2021 10:47 AM
John1234 Intra-day, only Rubberex management will know and Rubberex operator might be able to tell. We can only know after market closes, when SBB announcement is made on Bursa website.

With SBB, Rubberex operator will need to act with care, cannot anyhow whack down prices or need to cover back at higher prices, lol.
==========================================================================
Stockhunter88 Sbb again today?
23/09/2021 10:47 AM
23/09/2021 11:55 AM
Valgrovest Too bad - already GG for rubber glove stocks. Just move funds to other more prospective stocks.
23/09/2021 12:02 PM
John1234 Yes, we must always diversify our portfolio. Never bet big on one single sector.
==================================================================
Valgrovest Too bad - already GG for rubber glove stocks. Just move funds to other more prospective stocks.
23/09/2021 12:02 PM
23/09/2021 12:06 PM
John1234 EPF cuts stake in glove maker Riverstone Holdings for first time on record
https://www.theedgemarkets.com/article/epf-cuts-stake-glove-maker-riverstone-holdings-first-time-record

Why EPF never totally exits Riverstone Holdings? I believe, that is part of its diversification strategy. If the sector outlook is less rosy, just cuts its stake.
23/09/2021 2:10 PM
TheContrarian Added at 58.5 sen.
23/09/2021 2:39 PM
Sneakpeek 50c peeking and saying hi...
23/09/2021 3:22 PM
freddiehero 。no la.. still early.
23/09/2021 3:22 PM
Sneakpeek SBB got money..dividend no money...pfffttt.
23/09/2021 3:23 PM
Sneakpeek Investor red eye
23/09/2021 3:35 PM
Stockhunter88 Boss no money to sbb d?
23/09/2021 3:56 PM
Jonathan Keung Share buy back totalling 21 million { 58-60 sen } latest update 6.8 million, 6.7 million and 7.3 million
23/09/2021 4:13 PM
23/09/2021 5:35 PM
HamsterHuat Rubberrex boss always SBB lah....when price goes up...will sell on open market.

Never declare treasure dividend at all.
Useless Glove company
23/09/2021 9:01 PM
Blacksails The Boss doesn't care about the other shareholders, instead of giving good dividend he decided to SBB, what a waste of good money when it cannot halt share prices from dropping lower. Better consolidate the shares eg 4:3 if you want to maintain the share price at current or slightly higher price. That's only my opinion to share with those who can comprehend the situation.
23/09/2021 9:26 PM
neutralist hextar owns 38%. 62% is in the market now @ 320m. company cash is 300m. Why would i let other people snap my company for cheap. buy back up till 10% cost 32 million only if people throw so cheap. 300m left, offer extra 50% @ 450m buy the company off the market. all 270m cash left go to owners pocket. if ruberex continuento make money, ROI for him takes only 2-3 years. then when market normalize and back to good time, just relist back at higher valuation. Who don’t want haha. good for him but not minority shareholder. but if he do that, can earn some from privatization offer. but this is an assumptions on my perspective only. not an advise, or analysis of any sort.
23/09/2021 10:33 PM
John1234 Well, let's look at the facts to be more objective...

Before SBB, Rubberex used to be extra weak in its share price movements among all the gloves counters as a result of a variety of factors, more notably:
1. Poor market sentiments, especially towards the glove sector;
2. No announcement of dividend payments.

What happened to its share price after SBB was carried out by Rubberex management consecutively for the 4th time this week? I would say its share price was more resilient against a bigger % drop, when compared to other glove counters. Given the current weak market sentiments towards glove counters after Top Glove's recent release of result, SBB helped to soften the blow.

In fact, Rubberex's bonus issue of 2 for 1 last year had actually increased its total number of outstanding shares by 2 times more. So, when market sentiments turned sour, it could work against the share price by having more shares to sell in the market. Without SBB, the share price could have dropped even more.

I do agree that dividend payment is very good news for the shareholders. But if the share price continues to drop more after xd(like recent examples of Comfort and Supermax), what is the use?
I would prefer the company to do more to support the share price.

As for your proposal to do a shares consolidation for Rubberex, I do not think it will be well-received by the shareholders as investors usually have very negative views on any shares consolidation.

Whether Rubberex will take the company private after acquiring more shares at current price levels, I cannot comment much as I am still trying to decipher the company's current move.

I am simply sharing my own personal opinion. I do support Rubberex's current SBB move on its merits. I am NOT a company's spokesman on SBB. Let's hear more from what other forumers-cum-shareholders have to say!

===================================================================
Blacksails The Boss doesn't care about the other shareholders, instead of giving good dividend he decided to SBB, what a waste of good money when it cannot halt share prices from dropping lower. Better consolidate the shares eg 4:3 if you want to maintain the share price at current or slightly higher price. That's only my opinion to share with those who can comprehend the situation.
23/09/2021 9:26 PM
24/09/2021 8:06 AM
TheContrarian Way back 6 months ago in April the controlling shareholder sold over 100 million shares at prices above RM1.40. There has been no disclosure of the buyers. Are the buyers' shares been forced sold recently?
24/09/2021 10:07 AM
John1234 Another similar example is Hartalega. Yesterday was its first xd day. It dropped 14 sen more on top of its 19.75 sen per share dividend payment. And today, it continues to drop 12 sen as of now. Why? A lot of dividend investors waited very patiently for xd date and only started selling their shares after xd date. Isn't it 因小失大?
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3190839
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I do agree that dividend payment is very good news for the shareholders. But if the share price continues to drop more after xd(like recent examples of Comfort and Supermax), what is the use?
I would prefer the company to do more to support the share price.
23/09/2021 9:26 PM
24/09/2021 10:08 AM
Pandu1 SBB will make the price to increase lo.
24/09/2021 10:16 AM
John1234 This is a tricky question. I believe the big sell vols would have already been absorbed by the market. If there is no disclosure of any buyers on the Bursa website, then buyers could be owning a less than 5% stake.
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Way back 6 months ago in April the controlling shareholder sold over 100 million shares at prices above RM1.40. There has been no disclosure of the buyers. Are the buyers' shares been forced sold recently?
24/09/2021 10:07 AM
24/09/2021 10:16 AM
John1234 Got to see Rubberex's intention of the SBB move - to stabilise its share price or to push its share price higher...
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Pandu1 SBB will make the price to increase lo.
24/09/2021 10:16 AM
24/09/2021 10:27 AM
TheContrarian The reason price couldn't stay up is obviously due to continued margin call forced selling.
24/09/2021 10:33 AM
John1234 I do not rule out any possibility...
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TheContrarian The reason price couldn't stay up is obviously due to continued margin call forced selling.
24/09/2021 10:33 AM
24/09/2021 10:42 AM
John1234 Nowadays, even big4 also go separate ways. As of now, only Top Glove is up slightly. Hartalega and Kosssan are down more and Supermax is down slightly.
24/09/2021 10:47 AM
TheContrarian Eventually the margin call forced selling will run out and that's the time price will climb.
24/09/2021 11:46 AM
John1234 Normally, a pre-weekend show can be quite boring. But this time round, I see 2 forces pitting against each other - SBB force vs Rubberex operator. Pretty interesting!
24/09/2021 3:26 PM
Stockhunter88 Looks like another sbb today.. Rubberex looking to privatise since it is below nta now
24/09/2021 3:37 PM
TheContrarian Que sera sera, whatever will be, will be ....... the future's not ours to see. What will be, will be ........
24/09/2021 4:06 PM


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