Rubber Glove companies till year 2023
AT (0072) - Owns 29.30% of TRIVE (Why?)
koolset
Publish date: Thu, 25 Feb 2021, 11:20 PM
koolset
0 52
Countries are running out of gloves and have to purchase even more to overcome the incoming shortage.
For next 2-3 years, glove manufacturers will have to even more gloves compared to this year. Eventually, price will increase over time and the simple answer to that is because of the decreasing amount of raw rubber latex materials to produce it.
It is expected that the demand will be higher than 350b gloves next year according to Careplus annual report 2020. What's next?
For next 2-3 years, glove manufacturers will have to even more gloves compared to this year. Eventually, price will increase over time and the simple answer to that is because of the decreasing amount of raw rubber latex materials to produce it.
It is expected that the demand will be higher than 350b gloves next year according to Careplus annual report 2020. What's next?
AT company has spent an amount of RM32,999,217.13 to buy TRIVE shares.
Each share that represents RM0.11.
Trive is a company that is involved in the trading of solar panels and related products as well as construction and property development.
Share price of Trive has fallen since year 2017 from RM3.16 to RM0.12 today.
Annual net profit has been in the negative for many years as well.
*****
Why did AT buy more of Trive shares? (Knowing Trive has terrible reputation and horrible share price movement)
First of all, Mr Choong Lee Aun & Mr Yong Man Chai are Directors of AT and Trive.
The purpose for this investment is to allow Trive to obtain full control of Persoft Tower (office building with MSC status) strategically located in close proximity to busy suburbs such as Damansara Jaya, Damansara Utama, Bandar Utama, Ara Damansara and Kota Damansara.
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What is MSC status?
MSC Malaysia status is a recognition by the Government of Malaysia through the Multimedia Development Corporation (MDeC), for ICT and ICT-facilitated businesses that develop or use multimedia technologies to produce and enhance their products and services.
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What are the benefit of receiving MSC status?
Below are some of the incentives granted to MSC Malaysia status companies :
- Provide or heavy user of IT & multimedia products & services
- Pioneer Status privilege with a five (5) + five (5) year 100% exemption from taxable statutory income (on income derived from qualifying activities) starting from the date when the company starts generating income, renewable to 10 years
- 100% Investment Tax Allowance (ITA) on new investments made in MSC Malaysia Cybercities/Cybercentres, commencing from the date on which the first qualifying capital expenditure is incurred.
- Eligible for R&D grants (for majority Malaysian owned MSC Malaysia status companies)
- Freedom to source capital globally for MSC Malaysia infrastructure and the right to borrow funds globally.
- Freedom of ownership by exempting companies with MSC Malaysia status from local ownership requirements.
- Unrestricted employment of foreign knowledge workers.
- Duty-free importation of multimedia equipment, provided that the equipment is used by the company in the operation of its business, and not for direct sale and trading or use as components in manufactured items.
- Globally competitive telecommunication tariffs and services guarantees if MSC Malaysia status companies are located within the MSC Malaysia.
- Intellectual property protection and a pioneering and comprehensive framework of cyberlaws can be enjoyed by MSC Malaysia status companies irrespective of location.
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The other benefits of full control of Persoft Tower
To enhance and extract the value of Persoft Tower, thus enjoy all the future benefits that may accrued from Persoft Tower that comes with rental income and potential capital appreciation in its market value.
Trive Property has considered to turn the property into a boutique hotel. Selling points being it is in a strategic location and good accessibility.
*****
If you have any other info or if what i wrote is incorrect, do comment below so that i can edit it.
Reference:
https://mymscoffice.wordpress.com/malaysia-msc-status-offices/
https://www.cbdoffice.com.my/office/persoft-tower
https://klse.i3investor.com/insider/substantialShareholder/0118/25-Feb-2021/509915_3050831935.jsp
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=112104&name=EA_GA_ATTACHMENTS
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Discussions
3 people like this. Showing 10 of 10 comments
You don't need to get married first only then buy a house. If you can afford to buy a house before you get married, why not? Don't be so onion la. Although onion sedap in karibap.
2021-02-26 16:15
Onionchong, I can't speak for AT. Money wise. There are no news that is saying AT need more money for the 13 lines now. I can only assume that they have enough money for that. Plus they confirm on media that in June, all 13 lines will be completed.
AT has a habit to diversify their businesses too and this is not new.
If you have invested in AT because of glove, try to hold until June and see how it goes because that is the main picture after all. If your heart cannot take because of management decision, you know you must exit.
2021-02-26 16:39
pisang goreng expert to koey tiaw seller both AT & ttive banana boat, nothing else
2021-02-27 00:18
I can't answer if it is a wiser decision or not. I am not part of the management.
I am just an investor that compiles as much information as possible into a piece of article for us then it is up to each one of us to decide to continue or not.
2021-02-28 07:02
if you are not vested, you wont waste your time recycling info we already know, unless you want to pump it up..lol
2021-02-28 21:24
Jjyeo, all these info that i gotten may be obvious to you. However it is also for those who could not find these info. And yes, i want the share to go up as much as another AT investor because AT shows progression day by day. Nothing wrong with this mindset.
2021-03-01 18:27
Has worked in Persoft tower back in 2018. The condition of the public facilities is very bad there eg. toilet is not properly maintained, ladies would be afraid to go in there haha! Even the single mamak restaurant in the whole building looks like your prison canteen.
Location wise? If not driving, have to walk to nearby bus sign then take the bus to train station. Very few restaurants nearby, got a club next door, another skyscrapper building in construction nearby. Good thing is surrounding area is a quiet neighborhood.
2021-03-02 18:55
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onionchong
You're just describing what people already knew. You failed to explain why AT spent so much to purchase a commercial building (unrelated to its business) instead of spending on glove production? They haven't even started to generate revenue from gloves and now they're diverting their money to something totally unrelated to their business. What a joke.
2021-02-26 10:56