- The WHO has warned that the European continent could see an increase in the number of Ebola cases after a Spanish nurse tested positive for the virus.
- The nurse has been treating two Spanish missionaries who had contracted the disease in West Africa. Her case is the first known human-to-human transmission outside Africa.
- Medical authorities are now reportedly working on tracing and monitoring those who have been in contact with the nurse. 48 people are under supervision, including the medical team’s 26 other members. Six people are also known to have been hospitalised.
- The cause of her infection is yet to be identified. Suggested reasons include human error (in taking off her protective suit), substandard protective equipment as well as a lack of information or formal training.
- Meanwhile, in the US, the Texas Health Presbyterian Dallas said that the Liberian Ebola patient it was treating has died. The case was the first to be diagnosed outside of Africa.
- The man, who was hospitalised on 28 Sept, had been receiving an experimental drug, brincidofovir. There is still no licensed vaccine for Ebola, although several are being expedited from clinical trial to human studies as the virus has continued on its deadly path.
- We gather that the number of cases in West Africa has grown to 8,032 cases, which is more than three times the total number of Ebola cases prior to 2014 (2,463 cases). The fatality rate of the current epidemic is 48.1%.
- As we had earlier highlighted, the spread and increased awareness of this disease to the developed nations is positive for the rubber glove manufacturers.
- While interests from the developed countries (e.g. the US and Europe) should result in an uptick in demand for nitrile gloves and hence be most beneficial to Hartalega (HOLD; FV:RM6.45/share) and Kossan Rubber Industries (BUY, FV: RM5.85/share), their upside is capped by their near maximum utilisation rates .
- In view of that, we reiterate our opinion that Top Glove Corp (HOLD; FV: RM4.80/share) and Supermax Corp (HOLD, FV: RM2.40/share) should reap the bulk of the rewards.
- Thus far, the rubber gloves manufacturers have yet to report any panic buying. As such, we are keeping our NEUTRAL recommendation on the sector and leaving our earnings estimates unchanged.
Source: AmeSecurities
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