Trying to Make Sense Bursa Investments
Has the Short Seller Closed the Big Gloves Short?
(This is just a quick post as this question has been asked a few times today).
"Has the Short Seller Closed the Big Gloves Short?"
The answer is NO.
This question arose, because Bursa announcements were made that 55,750,480 shares were returned to EPF via the SBL facility on January 21 (19,699,000 shares), and on January 22 (36,051,480 shares).
However, according to calculations based on official Bursa data, the short seller has only bought back the following amounts of shares so far (up-to-date as of Tuesday):
ON TOP GLOVE STOCK:
| Date | Volume of Shares Bought Back |
| 11 January | 3,680,900 |
| 18 January | 5,000,000 |
| 19 January | 5,955,218 |
| 21 January | 1,062,480 |
| TOTAL | 15,698,598 |
This means that the short seller has gotten the shares from elsewhere in order to return them to EPF. For instance, they might have borrowed them from another lender at a higher fee.
ON KOSSAN STOCK:
| Date | Volume of Shares Bought Back |
| 15 January | 1,770,145 |
| 18 January | 3,000,000 |
| 19 January | 1,000,000 |
| TOTAL | 5,770,145 |
A number of announcements have been made on EPF activity related to Kossan's stock. However, it has not been explicitly mentioned if the acquisitions and disposals of stock were related to SBL facility borrowing and lending, thus we cannot be sure how many shares had been lent out and returned over the past few weeks.
The net short positions for each of the 4 glovemakers stand at the following figures as of Tuesday (official data provided by Bursa here lags by 1 day):
| Company | Outstanding Short Position Volume |
| TOPGLOV | 239,713,800 |
| HARTA | 47,060,823 |
| KOSSAN | 55,609,863 |
| SUPERMX | 16,252,500 |
Important disclaimer: Any views expressed are for informational and discussion purposes only. None of this information is intended as, and must not be understood as, a source of advice. It is imperative that you always do your own research and that you make any decisions based on your personal situation and your own personal understanding.
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Discussions
9 people like this. Showing 16 of 16 comments
Seek, thank you for your comment.
The 40 million announced on January 5 were not the only SBL transaction EPF did. They did a number of other transactions before New Year, in December.
2021-01-28 19:30
Thanks Ben. Bought TG Singapore today at 2.02. Start ball rolling. Hopefully can help.
2021-01-28 20:42
Thanks Ben for yet another important update on this ridiculous position that has become a great disease to our TG. You can certainly be that hero that fire up our retail investors to do a GameStop rise for TG! Time is ripe to shoooo away those shorties!
2021-01-28 23:01
Since Nov 10th EPF lent out SBL >100M shares. Appears they're recalling their shares.......tomorrow's gonna be mighty interesting!
2021-01-28 23:39
cpchuan, katsul51, Seek, CJkenho, Anthem2, calvin69, thank you for your comments.
Seek, that was most certainly a good arbitrage opportunity, if you want to use it as such, since yesterday was a holiday in Malaysia.
Anthem2, yes, it is unclear how much of that SBL amount was used in December though, and unfortunately based on the very limited amount of disclosures required by Bursa, it is very hard to extrapolate anything resembling an accurate estimate.
2021-01-29 10:10
There is always institutional short sellers waiting on the sidelines especially in the mature stock market cycle.
2021-01-29 10:38
@Ben
If I used a nominee account to buy the shares and hold, does it mean my borker can lend out "my" share in SBL?
2021-01-29 16:18
Covid-19 cases in Malaysia cross 200k mark with 5,725 new cases reported while 24 new COVID-19 cases in Singapore, all imported.
2021-01-29 21:18
newbie8080, lkoky, trading2019, sensonic, thank you for your comments.
lkoky, that might depend on the agreement you have signed with your broker when you have subscribed to their brokerage service. I advise you to check with them on that.
2021-01-30 14:44
never heard of Ben Tan before and i think he is famous overnight in analysing. Can open shop already. Very good in analysing .In future I think he is going to have a lot of followers. Thumbs up.
2021-01-31 14:47
cutie, thank you for your comment.
I don't plan to open shop. My knowledge is limited, but I like to share my findings, hoping they would benefit others, and hoping through discussion I could also gather constructive opinions from others. I believe in the long run this is a lot more valuable than "selling" services for a fee.
2021-01-31 21:26
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Seek
40m were sold as announced by Epf under sbl. The buying under sbl adds up to 55.7m. Why the difference? Thamks
2021-01-28 18:53