Highlights
KLSE: TOPGLOV (7113)       TOP GLOVE CORP BHD MAIN : Health Care
Last Price Today's Change   Day's Range   Trading Volume
6.79   -0.33 (4.63%)  6.68 - 7.15  91,636,200
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Price Target

Date Open Price Target Price Upside/Downside Price Call Source
25/11/2020 6.82 10.38 +3.56 (52.20%) BUY HLG
24/11/2020 6.89 10.96 +4.07 (59.07%) BUY MIDF
24/11/2020 6.89 10.38 +3.49 (50.65%) BUY HLG
24/11/2020 6.89 10.00 +3.11 (45.14%) BUY CIMB
24/11/2020 6.89 10.80 +3.91 (56.75%) BUY BIMB
24/11/2020 6.89 7.88 +0.99 (14.37%) HOLD AmInvest
18/11/2020 7.09 10.00 +2.91 (41.04%) BUY CIMB
17/11/2020 6.60 12.30 +5.70 (86.36%) BUY UOBKayHian
17/11/2020 6.60 9.70 +3.10 (46.97%) BUY PUBLIC BANK
17/11/2020 6.60 10.95 +4.35 (65.91%) BUY HLG

View Price Target Detail
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  40 people like this.
 
birkincollector LWC dont spend ur profit in SBB, invest in automation R&D to reduce ur dependency on foreign workers
01/12/2020 5:17 PM
EdwinYap86 I foresee many bag holders here

Hopefully no one will lose their livelihood because of topglove
01/12/2020 5:17 PM
Everybodyhuat TG should move factories to other countries like Vietnam or China. Who gives a shit for the workers, only pretenders do. List in HK and Spore only. Screw the Msia govt with zero tax. This country is hopeless. With hopeless IBs, hopeless investors and hopeless govt support.
01/12/2020 5:20 PM
Makeabuck Aiyoh another round to make money ka...okla tomorrow i buy the dip again...happy trading!!!
01/12/2020 5:24 PM
fofo The Ministry of Human Resources (MoHR) has opened 19 investigation papers against six companies related to Top Glove Corp Bhd, following enforcement operations in five states, namely Perak, Kedah, Kelantan, Negeri Sembilan and Johor, amid the spread of Covid-19 in the Teratai Cluster.
01/12/2020 5:24 PM
fofo MoHR pointed out that the main offence by the Top Glove group was its failure to apply for an accommodation certificate from the director-general of the Department of Labour of Peninsular Malaysia (JTKSM) under Section 24D of the act, which led to the discovery of other offences, including dense, uncomfortable accommodation and lack of proper ventilation.Moreover, the buildings used as accommodation for workers did not adhere to local authority laws.
01/12/2020 5:24 PM
tan81 Gov may suspend tg license.
Limit down 2moro.
Good luck to tg fans.
01/12/2020 5:24 PM
goodjoe Speak of the devil, dogs are out barking now.
01/12/2020 5:25 PM
pertamina Thank you so much for Edwin for his kind advice. Really appreciate.
01/12/2020 5:26 PM
fofo Following the operations, a total of 19 investigation papers were opened involving all six companies in the Top Glove group, with JTKSM to take further action for all offences investigated under the Workers’ Minimum Standards of Housing and Amenities Act 1990 (Act 446).If the companies are found guilty of these offences, the employer is punishable with fines of up to RM50,000 per offence.
01/12/2020 5:28 PM
fightingdragons *CGS-CIMB : TOPG MK, ADD, RM10 tgt px (pegged at 17x CY22 P/E)*

*Top Glove Faces Charges for Flouting Act 466*

*News link:* https://www.nst.com.my/news/crime-courts/2020/12/645775/top-glove-among-companies-face-charges-flouting-act-466

*Comments :* We understand that most of these allegations are in regards to the Act that was implemented in 1 Sept 2020. Note that, MHRD earlier highlighted that the government will adopt an educational approach until Dec-20 *(https://www.bernama.com/en/region/news.php?id=1877719)*.
Also, Msia Employers' Federation and the FMM had earlier petitioned for the implementation of this Act to be postponed given the disruptions caused by Covid-19 and financial ability for most manufacturers.

Based on our estimates, *the worst case scenario basis* suggest that 10-15% of its workers (16,500 workers) are living in over crowded dormitories. Assuming the fine is RM50k per worker, this will work out to a fine of *RM82.5-123.8m. This represents 0.8-1.2% of our current FY21 EPS forecasts*.

We believe that TOPG likely to release a press statement later today.
01/12/2020 5:30 PM
fofo The MoHR explained that the recent increase in the number of positive Covid-19 cases, which exceeded 1,000 daily, had prompted the ministry, via JTKSM, to undertake enforcement operations on several companies in the Top Glove group to curb the spread of the coronavirus.Enforcement operations in the five states were carried out simultaneously on Nov 26, involving six companies under the Top Glove group.
01/12/2020 5:30 PM
EdwinYap86 Let's see why gloves party is over:

1) Macro trend s recovery stocks
2) Vaccines confirmation
3) Heavy profit taking
4) Rising amount of stupid retails
5) IB conspiracy
01/12/2020 5:33 PM
Invest2U Foreign investors sure lari tonight once they read these news at their morning time. Lol
01/12/2020 5:34 PM
ChaseBros “Based on discussion and feedback from our partners worldwide, the group is of the opinion that this will become a new market requirement that will shape all future glove demand globally. The emphasis on hygiene and sanitation will also not be reduced in the event a vaccine becomes generally available,” said Comfort Gloves.

>>>> What is there to be panic?, as TopGlove shareholders. Guaranteed record breaking profit quarter after quarter at least till end of 2021. And, glove will be in great demand (or unable to meet the demand) even if vaccine is approved for mass inoculation no earlier than 1H 2021 and foreseeable immediate approval may be granted for emergency use only.

The only ones who are panicking are the IBs, fund managers because there are so many call warrants and they need to delivery full year result by year end. They are running out of time. How they wish they can deliver stellar results like TopGlove.

It's emotion, emotion, emotion ....................................
01/12/2020 5:34 PM
fofo The results of the comprehensive investigation into the accommodations and hostels of employees found that the employers did not comply with the Workers’ Minimum Standards of Housing and Amenities Act 1990 (Act 446),” said the MoHR.The MoHR reiterates that the ministry will never compromise on the matter of non-compliance with Act 446 by any employer. In addition, the MoHR once again calls on employers and centralised accommodation providers to immediately apply for an accommodation certificate for those who have not yet done so,” said the ministry.
01/12/2020 5:34 PM
EdwinYap86 Based on our estimates, *the worst case scenario basis* suggest that 10-15% of its workers (16,500 workers) are living in over crowded dormitories. Assuming the fine is RM50k per worker, this will work out to a fine of *RM82.5-123.8m. This represents 0.8-1.2% of our current FY21 EPS forecasts*.

We believe that TOPG likely to release a press statement later today.
01/12/2020 5:35 PM
TM##Stock Ya...TG should consider move to outside countries like Indonesia..China... Thailand ...here business earn money .. (someone )will jealous want to share the profit.
01/12/2020 5:35 PM
NJHL1234 disappointed management from top glove
01/12/2020 5:36 PM
Goldgent Terrible & lousy company. name is Top only.
Spent billion, hari-hari goreng shares.
Basic lodging also cannot provide to workers.
01/12/2020 5:37 PM
partimeshark hopefully the MoHR apply same standard to all factories, private and public also.. not only selectively target some companies
01/12/2020 5:37 PM
Snowpiercer Embarrassing
01/12/2020 5:38 PM
partimeshark next robert kwok.. cannot earn too much..haha
01/12/2020 5:40 PM
partimeshark Labour Department director-general Asri Ab Rahman said 63 charges involving a number of companies and employers including Top Glove, have been referred to the deputy public prosecutor's office for further action.

50k per charges only la
01/12/2020 5:40 PM
NJHL1234 Uncle lim was very confident TG will reach top 1 market capital by end of 2020. uncle lim pls dont everyday gamble share d la. put something back to your company
01/12/2020 5:41 PM
007007 Topglove has poor ESG (! Environment, Social, Governance) ratings........ foreign funds will sell.
01/12/2020 5:43 PM
NJHL1234 everyone talks about social governance now, bois. these cina companies must learn something here. not just throw money only
01/12/2020 5:44 PM
Invest1688 https://m.malaysiakini.com/news/553243
01/12/2020 5:45 PM
OnTime yes, automation is the answer, making gloves is not high-tech!
01/12/2020 5:46 PM
michaelgohmox Can advice me if TG shares can go to rm10 ar before end year? Last I heard tan sri says want to beat harimau
01/12/2020 5:48 PM
gemfinder As i said usa wont lift ban forever.
01/12/2020 5:49 PM
gemfinder Beat ur head la
01/12/2020 5:49 PM
Jeffreyteck No worry, management know best to use cash to support share price, unnecessary.
01/12/2020 5:50 PM
lalazai9 Lol just red 4% alot sohai so happy come out bark haha, relax tmr green 10%
01/12/2020 6:05 PM
birkincollector must learn from hartalega....tested 1500 so far only has 2 positive
01/12/2020 6:16 PM
NJHL1234 someone must be new here? gloves usually dropped at least 1 week after a miracle up. ahahahah
01/12/2020 6:24 PM
Makeabuck Another angle to look at

1) this expedites the process of the housing problem, and as u already know the whole world is looking at TG and their issue with labor publicized on newspaper. Govt action is bound to happen anyway. U guys are taking this too negatively, govt must take actions or it will show Malaysia govt as a whole condone such activities. Even more investors will shun away from Malaysia. So i would say its no choice and so happen TG is the victim. I believe Govt will not let TG fail anyway.

2) with the future profits coming in, it should be a small fraction if u look long term wise. If this money spent now will solve all the bans, then its money must spend

3) profits will continue to reel in as there will still be need for gloves as global vaccination may take longer than expected.

News creates emotions
People are just amplifier for the news

When u are trader and holding, then u will fear these news. If u dont hold then opportunity to trade dip. If u are long term holders, then this is opportunity to trade the dip or buy low, the journey is long.

There will always be price swings. So trade and make when there is excessive dip.

Welcome the barking
01/12/2020 6:25 PM
mindofgain now they even change the management :
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3110266
01/12/2020 6:28 PM
mindofgain too many bad news for top glove
01/12/2020 6:28 PM
Mak_kiah I think i should join them to bark
01/12/2020 6:30 PM
Stockhunter88 Waiting for 6.200.. If got I sure sailang
01/12/2020 6:31 PM
titan3322 michaelgohmox unlikely to reach RM 10 by year end but RM 7 is good support level unless foreign shareholding dump aggressively
01/12/2020 6:33 PM
ares123G Tomorrow they will screen Meru area.Around 6000 plus from the 12000 workers yet to be screen.Hopefully wont get as previous results.Teratai cluster bigger than Sabah cluster.
01/12/2020 6:47 PM
SafetyFirst TG management totally Bad for in charge worker。
if me is boss i sure ask the in charge worker manager quit job
01/12/2020 6:51 PM
SafetyFirst this is why US ban tg the reason , management Bad
01/12/2020 6:54 PM
losser3313 karma
01/12/2020 6:54 PM
greedy44444 Kluster Teratai yang dikaitkan dengan syarikat sarung tangan Top Glove sahaja pada hari ini telah melaporkan sebanyak 778 kes atau 52.9 peratus daripada keseluruhan jumlah kes harian untuk negara.
“Ia menyumbang kepada 87.3 peratus daripada kes harian yang dilaporkan di negeri Selangor,” katanya.
01/12/2020 6:57 PM
freddiehero how come..
01/12/2020 6:58 PM
freddiehero normally only le, for malaysia
01/12/2020 6:58 PM
freddiehero can sleep can sleep, no wrong le..
01/12/2020 6:58 PM


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