Correct Bro. JP Morgan's demented Troll will be sacked for failing to cause PANIC. The barking doggies will be roasted by their paymasters.

----------------------------------------------
Posted by al8800 > Jan 14, 2021 11:00 AM | Report Abuse

04 Jan - 17 Jan 2021 is the main period RSS is defending with their life ......if making huge loss, the heads will rolllllllll

Correct Bro JP Morgan kena tekan, unable press further & collect cheap
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Posted by Newplayer286 > Jan 14, 2021 10:53 AM | Report Abuse

wa....still tekan kaw kaw

So much evidence that prove JP Morgan's Jeffrey Ng analyst report on Glove is irresponsible and materially full with unreliable data just to con/manipulate the Market.

JP Morgan is panicking now as their plan to create PANIC is NOT working.

Let all be united and thwart their manipulativ & deplorable act to CON all of us.

Read this article: Evidence that prove JP Morgan's Jeffrey Ng analyst report on Glove is irresponsible and materially full with false data

https://klse.i3investor.com/blogs/GillianTan/2021-01-14-story-h1539323...

Well said Bro. This badly infected stray mongrel must be put to sleep. This paid IB cypertropper/Troll is a big nuisance here. Just incessantly spewing nonsense.
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Posted by Everybodyhuat > Jan 14, 2021 10:21 AM | Report Abuse

So who are you then glovefinish..stray dog? If you think losers are here, why are you still around? Didn't I tell you to bugger off last? Thick face or a stray dog sent by your IB master to input negative news?

All 4 big glove stocks offer plenty of upside: Kenanga

KUALA LUMPUR: Kenanga Investment Bank Research is retaining its outperform calls on the top four glove makers – Top Glove, Hartalega, Kossan and Supermax -- as fundamentally, they offer plenty of upside.

In its strategy note on Monday, it retained its outperform call on Top Glove with a target price of RM8.50, Hartalega RM21, Kossan RM7.50 and Supermax RM10.20 (Cimb)

It said with regulated short selling (RSS) finally allowed effective Jan 1, the first week of trading in 2021 saw the biggest short-selling volumes in the large rubber gloves stocks.

All four largest glove makers ended at week’s highs, which must be bruising for profit-motivated short sellers.

What pushes the share price up?

Among all the criteria such as dividend yield, cash flow, bank balance, net tangible assets (NTA), etc, the most powerful catalyst to push up the share price is profit growth prospect. Investors should not buy any stock that cannot report increasing profit ie most recovery stocks

Currently the Covid 19 pandemic is affecting almost all the listed companies except medical gloves stocks and medical products for the virus prevention. As a result, all the glove makers can easily increase their selling prices to make more and more profit.

Among all the glove stocks, Supermax has the best profit growth rate.

See you at the Bonanza !
------------------------

I am a staunch believer in the almighty power of rising earnings. I believe that Supermax earnings visibilities over the next few quarters are superb. The stock is so undervalued right now. Even if the demands for gloves taper, the stock will still be undervalued.

The stock price is like a dog on a leash. The dog can run up and down, left and right, but eventually, it comes back to the owner who holds the leash. In the stock market, that owner with a leash is the rising streams of earnings.

See you at the bonanza.

LATEST RESEARCH BY CIMB.

Supermax Corp

Greener pastures still ahead


Sustained global demand to drive ASPs higher
Supermax (SUCB) highlighted that its current order backlog is up to at least end-1Q22F (3QFY6/22F). This is driven by robust global glove demand, which SUCB believes could sustain for at least the next 1.5-2 years. Also, it expects its average selling prices (ASPs) to remain on an uptrend for at least until end-3QFY6/21 (average 5% mom increase in 3QFY6/21), while it believes that ASPs should not decline until at least end-1HFY6/22F.

Growing capacity by 85% by end-FY6/23F
SUCB fully commissioned all production lines in Block B (2.2bn pieces p.a.) of Plant 12 (4.4bn pieces p.a.) at end-2QFY6/21 (4QCY20), lifting its total production capacity by 9.2% to 26.2bn pieces p.a. We gather that construction of Plants 13,14,15,16 and 17 are ongoing, with the new production lines to be gradually commissioned from 1HFY6/21 onwards. In total, we expect SUCB’s production capacity to rise by 85% to 48.4bn pieces p.a. with the addition of these 5 new plants by end-FY6/23F (assuming no delays).

Zero positive Covid-19 cases reported as of last week
As of last week, SUCB has detected zero positive Covid-19 cases so far, post conducting Covid-19 testing on all of its c.3,000 workers recently. We believe SUCB plans to test all of its workers on a monthly basis, with those working in the packaging area receiving extra scrutiny. It will also continue to implement stringent Covid-19 prevention measures such as regular sanitisation of all its facilities, including factories and hostels.
Finalising plans for its US-based glove plant

SUCB is finalising plans for its US-based glove plant, including recently incorporating a wholly-owned subsidiary in the US (Maxter Healthcare Incorporated) with a paid-up capital of US$100m (RM400m). We gather that SUCB believes it is strategic to have a glove plant situated in the US given the proximity to its large-volume customers and raw material supply (large producer of NBR raw material). SUCB plans to announce more details on this venture (such as production timeline, capacity, etc.) in the near term.

Retain Add with a TP of RM10.80
We retain our Add call on SUCB but with a lower TP of RM10.80 (15x CY22F P/E, from 18.3x, i.e. +0.5 s.d to its 5-year mean, previously). Note that we now peg SUCB to the glove sector’s 5-year mean despite its robust earnings prospects, as we take a more conservative approach, as SUCB’s impressive FY21-23F numbers may potentially be one-offs. Still, we think SUCB remains as an attractive proposition, backed by: i) strong global glove demand owing to Covid-19, ii) higher-than-average margins in the sector (due to its OBM model) and iii) solid dividend yields of 3.3-6.7% (FY21-23F).

Read this article: Evidence that prove JP Morgan's Jeffrey Ng analyst report on Glove is irresponsible and materially full with false data

https://klse.i3investor.com/blogs/GillianTan/2021-01-14-story-h1539323...

Read this article: Evidence that prove JP Morgan's Jeffrey Ng analyst report on Glove is irresponsible and materially full with false data

https://klse.i3investor.com/blogs/GillianTan/2021-01-14-story-h1539323...

Read this article: Evidence that prove JP Morgan's Jeffrey Ng analyst report on Glove is irresponsible and materially full with false data

https://klse.i3investor.com/blogs/GillianTan/2021-01-14-story-h1539323...

Read this article: Evidence that prove JP Morgan's Jeffrey Ng analyst report on Glove is irresponsible and materially full with false data

https://klse.i3investor.com/blogs/GillianTan/2021-01-14-story-h1539323...

Read this article: Evidence that prove JP Morgan's Jeffrey Ng analyst report on Glove is irresponsible and materially full with false data

https://klse.i3investor.com/blogs/GillianTan/2021-01-14-story-h1539323...

Read this article: Evidence that prove JP Morgan's Jeffrey Ng analyst report on Glove is irresponsible and materially full with false data

https://klse.i3investor.com/blogs/GillianTan/2021-01-14-story-h1539323...

Read this article: Evidence that prove JP Morgan's Jeffrey Ng analyst report on Glove is irresponsible and materially full with false data

https://klse.i3investor.com/blogs/GillianTan/2021-01-14-story-h1539323...

Read this article: Evidence that prove JP Morgan's Jeffrey Ng analyst report on Glove is irresponsible and materially full with false data

https://klse.i3investor.com/blogs/GillianTan/2021-01-14-story-h1539323...

Hartalega expects glove ASPs to rise by 50% in Q3
=====================================
BUSINESS
Wednesday, 13 Jan 2021

“Hartalega is also of the view that ASPs could still increase from the first quarter of 2022, given the current severe shortage in global glove supply.

“In our view, Hartalega’s ASPs will still lag behind its peers in the second quarter of 2022.”

CGS-CIMB said Hartalega believed that there would be a global shortage of 120 billion gloves annually for at least the next two years, due to higher demand from both healthcare and non-healthcare sectors, owing to the Covid-19 pandemic.

Public Bank is the best run in Bursa, however be prepared for the headwinds as the economy contracts or weakens. Most banks will have to make sizeable provisioning due to Bad debt or non performing loans.

The big 4 is still the best in terms of value- good growth potential, high dividends & sound management.

Gloves has the brightest prospects.

Never put all your eggs in a Basket ie diversify your investments.

Posted by stevee > Jan 13, 2021 9:37 PM | Report Abuse

Switch from glove stocks to banking stocks especially PBB which is flying high. Tomorrow CI will cross 1700 n shorties will be scrambling with pants down.

The pandemic is getting worse by the day and virologist are of the view that Covid will be with us for a long time, like the common influenza. The massive structural shift in demand for Gloves due increased hygiene awareness due to COVID is the biggest boost for Gloves- NOT the length of the MCO or whether Gloves are used for vaccination.

Stay safe and adjust to the new norm.

---------------------------------------------
Posted by glovefinish > Jan 13, 2021 9:09 PM | Report Abuse

MCO 2.0 now is no stimulus for glove stocks, people now won't chase to buy glove stocks just because of MCO. Thus, how long the period for MCO and whether it will be extended or not after two weeks won't have any effect on glove stocks price movement. This is the difference between MCO 1.0 and MCO 2.0.

@GilillanTan- Totally agree


CDC guidelines is only Guidelines, not the law.

Majority of US State clinics still use gloves to administer vaccine.

Just watch the news (CNBC, CNN, Fox). All videos show US nurses using gloves.

CDC issue that guideline is because there is glove shortage. The normal procedure is to use gloves.

JP Morgan on the other hand, was just fined US$1bil for manipulating metal futures in Dec 2020

How do they make back their losses? Using dirty tactics

AmInvest report on TOP GLOVE is the most misleading report i have ever come across.

They forecast TG groups FY21 net profit to be only Rm2.9 billion where the last Quarter was already Rm2.38 billion

"We forecast Top Glove’s net profit at RM2.9bil, RM2.7bil and RM1.5bil for FY21–23F..."

Amazingly reckless, I wonder if its done maliciously or maybe in cahoots with Shorty, JP Morgan to run down TG.

Such low quality report speak volumes of AMinvestment Bank credibility.

JP Morgan faces a fine of $920m for market manipulation
=========================================
The Economist

Oct 3rd 2020

NEW YORK
Many of the big market-manipulation scandals over the past decade have much in common: huge fines for the investment banks, criminal charges for the traders and an embarrassing paper trail revealing precisely what bank employees got up to. Interest-rate traders who manipulated the London Interbank Offered Rate (libor) messaged each other with pleas to put their fixes in low. Foreign-exchange traders infamously called a chat room in which they discussed rigging exchange rates “the cartel”.


The BIGGEST CROOK IN BURSA.

Be Careful of this SUPER manipulator


SC/Bursa - Any Comments?

The EDGE should raise this issue instead of sucking up to JP Morgan by being their mouthpiece.

JP Morgan faces a fine of $920m for market manipulation
=========================================
The Economist

Oct 3rd 2020

NEW YORK
Many of the big market-manipulation scandals over the past decade have much in common: huge fines for the investment banks, criminal charges for the traders and an embarrassing paper trail revealing precisely what bank employees got up to. Interest-rate traders who manipulated the London Interbank Offered Rate (libor) messaged each other with pleas to put their fixes in low. Foreign-exchange traders infamously called a chat room in which they discussed rigging exchange rates “the cartel”.


The BIGGEST CROOK IN BURSA.

Be Careful of this SUPER manipulator


SC/Bursa - Any Comments?

X

This explains why JP Morgan, The Mega Shortist has hit the PANIC button.
Soon they will be peeing in their pants- and serve them right.
Never short FUNDAMENTALLY SOLID Glove counters- (The Big 4)

You SHORT AT YOUR PERIL

-------------------------------------------------------------------
@mynvestor- good information.

Shorty JP morgan is paying weekly interest. Assuming SBL for all gloves stock is total 2b, the interest calculated will be below

2b x 10% x 7/365=38.4m weekly.

If JP couldn't bring down the gloves shares target price, it will lose 76.8 million (14 days) based on 2b loan.

OCBC sbl rate.
the borrowing fee charges yearly are 10% of the market value of the borrowed stock i.e. about 0.192% weekly (the market value will be marked daily based on the previous closing price). The fees are subject to GST.

Example:

Let’s assume that the market value of the borrowed stock is constant throughout the borrowing period. Hence, the borrowing fees of a $10,000 stock for 7 days (10% X 10,000 x 7/365) is about S$19.18 (excluding GST).

By allowing the short to sit open, it is actually creating phantom shares in the market, which has been argued that this dilutes the company’s shares. This could be a reason that share prices are artificially depressed for as long as the short is unsettled. “Abusive naked short selling” is arguably “evil”. The SEC hence enacted Regulation SHO in January 2005 to address this issue by requiring broker-dealers to close out the “failure to deliver” position after 13 consecutive days.
https://portal.iocbc.com/help-and-support/trading-our-products-sbl

JP will need to close in 13 days if bursa n Sgx having the same rule.

RSS on 4/1/2021 and need to close on 17/1/2021

Hartalega expects glove ASPs to rise by 50% in Q3
==================================
TheStar Wed, Jan 13,

CGS-CIMB said Hartalega believed that there would be a global shortage of 120 billion gloves annually for at least the next two years, due to higher demand from both healthcare and non-healthcare sectors, owing to the Covid-19 pandemic.

PETALING JAYA: Hartalega Holdings Bhd is set to benefit from an increase in average selling prices (ASPs) over the course of its current financial year, in view of the global glove shortage.

CGS-CIMB said in a report the company expected its glove ASPs to rise by 50% quarter-on-quarter in the third quarter of its current financial year ending March 2021, as well as a 40% quarter-on-quarter increase in the fourth quarter.

https://klse.i3investor.com/blogs/bursainvestments/2021-01-13-story-h1

Who Is the Mysterious Gloves Short Seller?
Author: Ben Tan | Publish date: Wed, 13 Jan 2021, 2:36 PM

Since the beginning of last week, many have wondered who the mysterious short seller of gloves, who has spent a whooping RM1.8 billion shorting Top Glove, Hartalega, Kossan, and Supermax within the past 7 working days of this year, is. We might have just indirectly gotten the answer to that question. This short seller is currently sitting on a pile of paper losses as the market prices of the 4 glove giants have gone up (in some cases significantly up) as compared to the average price at which they have been shorted, mostly last week.

First, if you are unfamiliar with the situation, please quickly go through my earlier posts where I cover it more extensively:

The Big (Gloves) Short

Gloves: The Bad Guy Loses (From Time to Time)

Gloves: Zero Short Positions Closed for the Entire Last Week

Earlier today, two truly curious items were published.

First, AmInvest released an analyst report, full of logical inconsistencies, pegging their target price for Top Glove at RM6.50, for Hartalega at RM12.22, and for Kossan at RM4.56. You can read the report here. You can read my thoughts on AmInvest's report and the inconsistencies presented in it here.

More importantly, the chief "glove bear" - JP Morgan, have released a research note on Monday, according to reports from The Edge (see here). In this note they reconfirm their target prices for Top Glove at RM3.50, Hartalega at RM8.50, and Kossan at RM3.80. These target prices were first released in a reported dated December 11, 2020, according to an article on The Edge (see here). Unfortunately, we do not have the full report, but only the quoted excerpts, so it is hard to comment on how those target prices have been derived. It would be truly appreciated if anyone who may have access to the actual report could share it.

What we can comment on though, is that JP Morgan's asset management department may not have received this report. As of the last reported date (December 31, 2020), JP Morgan's holding of Top Glove stock has actually increased by 4.06% (see here). Note that as of November 30, 2020, their JPMorgan Malaysia Fund portfolio consisted of 9.4% Top Glove stock and 8.1% Hartalega stock (see here). These are their first and third stocks with highest weightage in their portfolio. The prospectus (same source) states that "Investments in, or exposure to, any single entity (other than Government and other public securities) cannot exceed 10% of the Fund’s total net asset value." In other words, JP Morgan owns close to the maximum of Top Glove stock it can own. This might be the first bear investor in the world this could be said for.

So the question that remains unanswered is - are JP Morgan's analysts wrong in their valuations, or are JP Morgan's fund managers wrong to have bought enormous amounts of glove stock and hugely overpriced market valuations?


https://klse.i3investor.com/blogs/bursainvestments/2021-01-13-story-h1

https://klse.i3investor.com/blogs/bursainvestments/2021-01-13-story-h1

Who Is the Mysterious Gloves Short Seller?
Author: Ben Tan | Publish date: Wed, 13 Jan 2021, 2:36 PM

Since the beginning of last week, many have wondered who the mysterious short seller of gloves, who has spent a whooping RM1.8 billion shorting Top Glove, Hartalega, Kossan, and Supermax within the past 7 working days of this year, is. We might have just indirectly gotten the answer to that question. This short seller is currently sitting on a pile of paper losses as the market prices of the 4 glove giants have gone up (in some cases significantly up) as compared to the average price at which they have been shorted, mostly last week.

First, if you are unfamiliar with the situation, please quickly go through my earlier posts where I cover it more extensively:

The Big (Gloves) Short

Gloves: The Bad Guy Loses (From Time to Time)

Gloves: Zero Short Positions Closed for the Entire Last Week

Earlier today, two truly curious items were published.

First, AmInvest released an analyst report, full of logical inconsistencies, pegging their target price for Top Glove at RM6.50, for Hartalega at RM12.22, and for Kossan at RM4.56. You can read the report here. You can read my thoughts on AmInvest's report and the inconsistencies presented in it here.

More importantly, the chief "glove bear" - JP Morgan, have released a research note on Monday, according to reports from The Edge (see here). In this note they reconfirm their target prices for Top Glove at RM3.50, Hartalega at RM8.50, and Kossan at RM3.80. These target prices were first released in a reported dated December 11, 2020, according to an article on The Edge (see here). Unfortunately, we do not have the full report, but only the quoted excerpts, so it is hard to comment on how those target prices have been derived. It would be truly appreciated if anyone who may have access to the actual report could share it.

What we can comment on though, is that JP Morgan's asset management department may not have received this report. As of the last reported date (December 31, 2020), JP Morgan's holding of Top Glove stock has actually increased by 4.06% (see here). Note that as of November 30, 2020, their JPMorgan Malaysia Fund portfolio consisted of 9.4% Top Glove stock and 8.1% Hartalega stock (see here). These are their first and third stocks with highest weightage in their portfolio. The prospectus (same source) states that "Investments in, or exposure to, any single entity (other than Government and other public securities) cannot exceed 10% of the Fund’s total net asset value." In other words, JP Morgan owns close to the maximum of Top Glove stock it can own. This might be the first bear investor in the world this could be said for.

So the question that remains unanswered is - are JP Morgan's analysts wrong in their valuations, or are JP Morgan's fund managers wrong to have bought enormous amounts of glove stock and hugely overpriced market valuations?


https://klse.i3investor.com/blogs/bursainvestments/2021-01-13-story-h1

https://klse.i3investor.com/blogs/bursainvestments/2021-01-13-story-h1

Who Is the Mysterious Gloves Short Seller?
Author: Ben Tan | Publish date: Wed, 13 Jan 2021, 2:36 PM

Since the beginning of last week, many have wondered who the mysterious short seller of gloves, who has spent a whooping RM1.8 billion shorting Top Glove, Hartalega, Kossan, and Supermax within the past 7 working days of this year, is. We might have just indirectly gotten the answer to that question. This short seller is currently sitting on a pile of paper losses as the market prices of the 4 glove giants have gone up (in some cases significantly up) as compared to the average price at which they have been shorted, mostly last week.

First, if you are unfamiliar with the situation, please quickly go through my earlier posts where I cover it more extensively:

The Big (Gloves) Short

Gloves: The Bad Guy Loses (From Time to Time)

Gloves: Zero Short Positions Closed for the Entire Last Week

Earlier today, two truly curious items were published.

First, AmInvest released an analyst report, full of logical inconsistencies, pegging their target price for Top Glove at RM6.50, for Hartalega at RM12.22, and for Kossan at RM4.56. You can read the report here. You can read my thoughts on AmInvest's report and the inconsistencies presented in it here.

More importantly, the chief "glove bear" - JP Morgan, have released a research note on Monday, according to reports from The Edge (see here). In this note they reconfirm their target prices for Top Glove at RM3.50, Hartalega at RM8.50, and Kossan at RM3.80. These target prices were first released in a reported dated December 11, 2020, according to an article on The Edge (see here). Unfortunately, we do not have the full report, but only the quoted excerpts, so it is hard to comment on how those target prices have been derived. It would be truly appreciated if anyone who may have access to the actual report could share it.

What we can comment on though, is that JP Morgan's asset management department may not have received this report. As of the last reported date (December 31, 2020), JP Morgan's holding of Top Glove stock has actually increased by 4.06% (see here). Note that as of November 30, 2020, their JPMorgan Malaysia Fund portfolio consisted of 9.4% Top Glove stock and 8.1% Hartalega stock (see here). These are their first and third stocks with highest weightage in their portfolio. The prospectus (same source) states that "Investments in, or exposure to, any single entity (other than Government and other public securities) cannot exceed 10% of the Fund’s total net asset value." In other words, JP Morgan owns close to the maximum of Top Glove stock it can own. This might be the first bear investor in the world this could be said for.

So the question that remains unanswered is - are JP Morgan's analysts wrong in their valuations, or are JP Morgan's fund managers wrong to have bought enormous amounts of glove stock and hugely overpriced market valuations?


https://klse.i3investor.com/blogs/bursainvestments/2021-01-13-story-h1

https://klse.i3investor.com/blogs/bursainvestments/2021-01-13-story-h1

Who Is the Mysterious Gloves Short Seller?
Author: Ben Tan | Publish date: Wed, 13 Jan 2021, 2:36 PM

Since the beginning of last week, many have wondered who the mysterious short seller of gloves, who has spent a whooping RM1.8 billion shorting Top Glove, Hartalega, Kossan, and Supermax within the past 7 working days of this year, is. We might have just indirectly gotten the answer to that question. This short seller is currently sitting on a pile of paper losses as the market prices of the 4 glove giants have gone up (in some cases significantly up) as compared to the average price at which they have been shorted, mostly last week.

First, if you are unfamiliar with the situation, please quickly go through my earlier posts where I cover it more extensively:

The Big (Gloves) Short

Gloves: The Bad Guy Loses (From Time to Time)

Gloves: Zero Short Positions Closed for the Entire Last Week

Earlier today, two truly curious items were published.

First, AmInvest released an analyst report, full of logical inconsistencies, pegging their target price for Top Glove at RM6.50, for Hartalega at RM12.22, and for Kossan at RM4.56. You can read the report here. You can read my thoughts on AmInvest's report and the inconsistencies presented in it here.

More importantly, the chief "glove bear" - JP Morgan, have released a research note on Monday, according to reports from The Edge (see here). In this note they reconfirm their target prices for Top Glove at RM3.50, Hartalega at RM8.50, and Kossan at RM3.80. These target prices were first released in a reported dated December 11, 2020, according to an article on The Edge (see here). Unfortunately, we do not have the full report, but only the quoted excerpts, so it is hard to comment on how those target prices have been derived. It would be truly appreciated if anyone who may have access to the actual report could share it.

What we can comment on though, is that JP Morgan's asset management department may not have received this report. As of the last reported date (December 31, 2020), JP Morgan's holding of Top Glove stock has actually increased by 4.06% (see here). Note that as of November 30, 2020, their JPMorgan Malaysia Fund portfolio consisted of 9.4% Top Glove stock and 8.1% Hartalega stock (see here). These are their first and third stocks with highest weightage in their portfolio. The prospectus (same source) states that "Investments in, or exposure to, any single entity (other than Government and other public securities) cannot exceed 10% of the Fund’s total net asset value." In other words, JP Morgan owns close to the maximum of Top Glove stock it can own. This might be the first bear investor in the world this could be said for.

So the question that remains unanswered is - are JP Morgan's analysts wrong in their valuations, or are JP Morgan's fund managers wrong to have bought enormous amounts of glove stock and hugely overpriced market valuations?


https://klse.i3investor.com/blogs/bursainvestments/2021-01-13-story-h1

JP Morgan - A low Class Investment Banker.
-------------------------------------------
Short Covering now By JP Mogan now will cost them at least an estimated RM 100 -150 million.

Hence, in order to by back cheaply they came out with a report today to say that Gloves is not needed for Vaccination.

A very LOW class manipulative Investment Banker.

All 4 big glove stocks offer plenty of upside: Kenanga

13th January 2021.

KUALA LUMPUR: Kenanga Investment Bank Research is retaining its outperform calls on the top four glove makers – Top Glove, Hartalega, Kossan and Supermax -- as fundamentally, they offer plenty of upside.

In its strategy note on Monday, it retained its outperform call on Top Glove with a target price of RM8.50, Hartalega RM21, Kossan RM7.50 and Supermax RM9.05.

It said with regulated short selling (RSS) finally allowed effective Jan 1, the first week of trading in 2021 saw the biggest short-selling volumes in the large rubber gloves stocks.

All four largest glove makers ended at week’s highs, which must be bruising for profit-motivated short sellers.

“Statistics from Bursa Malaysia however, do not reveal the breakdown of hedgers, arbitrageurs and profit seekers amongst the short sellers.

“Long-only investors in Top Glove may be relieved to know that with Top Glove’s latest net short position of 2.34% (of issued shares), it leaves just three to four more days of shorting before hitting the newly imposed 4% ceiling cap assuming average daily volumes done last week, ” it said.

Top Glove - SERIOUS, MATERIAL INCONSISTENCIES with AmInvest's Report
=======================================================

Author: Ben Tan | Publish date: Wed, 13 Jan 2021, 10:31 AM

This morning a rather curious analyst report came from AmInvest. I've been meaning to comment on AmInvest's glove sector valuations for a while, but I didn't get the chance up to now. You can download the actual report from here.

In a nutshell, AmInvest give a "Neutral" call on the glove sector (specifically on Top Glove, Hartalega, and Kossan), meaning that the counters currently trade at around fair value. I will focus on Top Glove as the visibility for them generally appears the clearest as compared to the other two glove counters covered in the report. I will not comment on the assumptions AmInvest mention in their report, which are always a matter of opinion. Let's look at their actual numerical inputs, specifically the ones for FY21 as the further in the future we look, the blurrier the visibility is. Based on these numerical inputs, AmInvest derive a fair value of RM6.50 for Top Glove.

For FY21, they set revenue at RM25.6 billion. Note that this is almost perfectly in line with my own estimate of RM24.7 billion - you can read how I come to this figure here. However, they set net profit at RM7.9 billion and this is where all the curious things in the world come to play.

First, if the net profit comes to RM7.9 billion for the year, this would mean that Q1 PAT of RM2.38 billion, widely regarded (including by AmInvest, according to their analysis) as the weakest quarter for this year, would represent 30% (!!!) of the net profit for the entire year. If, as they say their assumption is, ASPs continue to rise for the 1H21 (I assume they mean 1HCY21), this would mean that Q2 and Q3 should see higher net profits recorded than Q1. Then, following AmInvest's logic but without them explicitly saying this, Q4 would need to record either 0 (zero) PAT, or more in line with the numbers they present to us - negative profits (i.e. losses). Note that Q4 for Top Glove ends in August.

Did AmInvest forget to include one full quarter in their profits estimate?

Second, the consensus PAT across all analysts for FY21 is approximately RM10.5 billion. This is based on consensus revenue of RM20.5 billion, i.e. net profit is estimated at 51% of revenue for the year. Note that in the post I linked to above, I derive the figures for revenue, but not for PAT, because a lot more assumptions need to be made to come to an estimated net profit figure. Thus, in this case the consensus PAT might be a good guide. Pay close attemption to this - AmInvest's revenue estimate is significantly higher than the consensus revenue estimate. However, their PAT estimate is significantly lower. There is no explanation as to why that is the case. In fact, they say exactly the opposite in their report when talking about rising raw material costs: " we believe glove makers will be able to pass on the price increase to buyers, thus keeping their margins safe." If the profit margins remain the same, then Q1 profits may be a good indicator for profits throughout this financial year (ending in August 2021). Coincidentally, net profits for Q1 (RM2.38 billion) are equal to 50% of revenue (RM4.76 billion).

Did AmInvest contradict their own assumptions or did they input wrong numbers?

To top all of this, the cherry on the cake is in the actual hold "call" summary:

"We forecast Top Glove’s net profit at RM2.9bil, RM2.7bil and RM1.5bil for FY21–23F..."


https://klse.i3investor.com/blogs/bursainvestments/2021-01-13-story-h1...

Top Glove - SERIOUS, MATERIAL INCONSISTENCIES with AmInvest's Report
=======================================================

Author: Ben Tan | Publish date: Wed, 13 Jan 2021, 10:31 AM

This morning a rather curious analyst report came from AmInvest. I've been meaning to comment on AmInvest's glove sector valuations for a while, but I didn't get the chance up to now. You can download the actual report from here.

In a nutshell, AmInvest give a "Neutral" call on the glove sector (specifically on Top Glove, Hartalega, and Kossan), meaning that the counters currently trade at around fair value. I will focus on Top Glove as the visibility for them generally appears the clearest as compared to the other two glove counters covered in the report. I will not comment on the assumptions AmInvest mention in their report, which are always a matter of opinion. Let's look at their actual numerical inputs, specifically the ones for FY21 as the further in the future we look, the blurrier the visibility is. Based on these numerical inputs, AmInvest derive a fair value of RM6.50 for Top Glove.

For FY21, they set revenue at RM25.6 billion. Note that this is almost perfectly in line with my own estimate of RM24.7 billion - you can read how I come to this figure here. However, they set net profit at RM7.9 billion and this is where all the curious things in the world come to play.

First, if the net profit comes to RM7.9 billion for the year, this would mean that Q1 PAT of RM2.38 billion, widely regarded (including by AmInvest, according to their analysis) as the weakest quarter for this year, would represent 30% (!!!) of the net profit for the entire year. If, as they say their assumption is, ASPs continue to rise for the 1H21 (I assume they mean 1HCY21), this would mean that Q2 and Q3 should see higher net profits recorded than Q1. Then, following AmInvest's logic but without them explicitly saying this, Q4 would need to record either 0 (zero) PAT, or more in line with the numbers they present to us - negative profits (i.e. losses). Note that Q4 for Top Glove ends in August.

Did AmInvest forget to include one full quarter in their profits estimate?

Second, the consensus PAT across all analysts for FY21 is approximately RM10.5 billion. This is based on consensus revenue of RM20.5 billion, i.e. net profit is estimated at 51% of revenue for the year. Note that in the post I linked to above, I derive the figures for revenue, but not for PAT, because a lot more assumptions need to be made to come to an estimated net profit figure. Thus, in this case the consensus PAT might be a good guide. Pay close attemption to this - AmInvest's revenue estimate is significantly higher than the consensus revenue estimate. However, their PAT estimate is significantly lower. There is no explanation as to why that is the case. In fact, they say exactly the opposite in their report when talking about rising raw material costs: " we believe glove makers will be able to pass on the price increase to buyers, thus keeping their margins safe." If the profit margins remain the same, then Q1 profits may be a good indicator for profits throughout this financial year (ending in August 2021). Coincidentally, net profits for Q1 (RM2.38 billion) are equal to 50% of revenue (RM4.76 billion).

Did AmInvest contradict their own assumptions or did they input wrong numbers?

To top all of this, the cherry on the cake is in the actual hold "call" summary:

"We forecast Top Glove’s net profit at RM2.9bil, RM2.7bil and RM1.5bil for FY21–23F..."


https://klse.i3investor.com/blogs/bursainvestments/2021-01-13-story-h1...

China's Largest Gloves Manufacturer hit All Time High (ATH) as the pandemic rages on-

Sooner or later our BIG 4 will breach their ATH

Just be patient.

INTCO Medical Technology Co Ltd
SHE: 300677
246.96 CNY +17.00 (7.39%)

13 Jan, 12:53 pm GMT+8 · Disclaimer

GLOVES set Surge further after a short breather.
-----------------------------------------------
WHO’s warning of a tipping point in the fight against the coronavirus pandemic, amid growing fears over more infectious variants of the virus (discovered in the UK and South Africa) may bode well for a more sustainable profitability for many years to come.

This is just the beginning of a strong uptrend reminiscent to the fantastic run last year.

Strong holders will be rewarded.

MCO 2.0 will be extended after two weeks, as two weeks time will not be enough to curb the spread of Covid-19 pandemic.

MCO 2.0 and the Darurat will only affect the sentiment of our local stock market in the short term. The drop in share price due to these reasons might serve you a good opportunity to buy those fundamentally good stocks at cheaper price especially GLOVES ie Supermax.

Always remember it is really important to only invest in good fundamental companies.

Supermax is making more earning per share (EPS) in every quarter since the pandemic began in March, than any of its peers, namely Top Glove, Kossan, Hartalega, Comfort Glove, Care Plus and Rubberex, etc.

The reason why Supermax can make more EPS in every quarter than any of its peers is because it has its own brand and sale outlets in many cities in US and in many other countries around the world. Smaller glove makers cannot sell their glove at higher price than Supermax because they have to sell their gloves through agents or middle men.

To be very safe and sure of making money, I assume the company does not increase its selling price for the whole financial year.

Its annual EPS will be 4 X 30.58 sen = Rm 1.22

To be very safe and easily achievable I based on PE 10, my target price will be Rm 12.20.

The last traded price was Rm 7.20 per share

Fitch Solutions: Lockdown will likely last much longer than two weeks
---------------------------------------------------------------------

IN all likelihood, the impending movement control order (MCO 2.0) which will come to force after midnight tonight (Jan 13) – initially for a two-week period – is likely to stretch beyond that duration given the Government has declared a state of emergency until Aug 1.

This is not surprising as the previous lockdown which was imposed on March 18 last year lasted close to a quarter in 2Q 2020 and was implemented after a far milder outbreak than the current third wave, according to Fitch Solutions Country Risk & Industry Research.

“Malaysia’s daily case load has averaged about 2,319 since the beginning of the year and set a new record of 3,027 on January 8,” observed the research house in a commentary entitled 2021 Malaysia Growth, Monetary and Fiscal Outlooks Likely Derailed.

“This compares to the average of 149 and peak of 217 in the month between mid-March and mid-April 2020, the last serious episode of the outbreak in the country.”

Fitch Solutions noted that the re-imposition of lockdown measures is in line with its view since early November 2020 when it cited the possibility of a wider lockdown as a downside risk to its interest rate view in 2021.

Defensive Sectors- GLOVES - ESP SUPERMAX
====================
Personally, I believe the best sectors to have in your portfolio right now to hedge against the pandemic will be the Rubber Glove and Semiconductor sector. As we all know, the Covid-19 pandemic has impacted most businesses badly in Malaysia and worldwide.

The Rubber Glove is one of the sectors proven to be pandemic-proof. Due to the increasing demand for rubber glove in the whole world, the demand has far exceeded the supply of rubber gloves available. As such, the average selling price of glove has been increasing to a skyrocket level which give all rubber glove companies an handsome margins of profit to work with.

At the point of writing this article, the whole world is still battling Covid-19 pandemic, and there is no signs of slowing down even with the vaccines available. Even though all rubber glove stocks price have been hammered down in the past 2 months, I believe the downside is minimal at current price level. The fundamentals of rubber glove businesses are still intact and getting better every quarter. So it is a must to have a portion of rubber glove companies in your portfolio.

ALL BIG 4- PLENTY OF UPSIDE- ESPECIALLY SUPERMAX
=========================================
Kenanga Investment Bank Research is retaining its outperform calls on the top four glove makers

Top Glove, Hartalega, Kossan and Supermax --

Fundamentally, they offer plenty of upside.

Supermax is expected to announce a whopping PAT of RM 1 .1 billion or RM0.40 sen earnings per share for the coming quarter. This will leaves Supermax with a Trailing PE of just 9 times.

(2.31+5.42+30.58+40=78.31 sen)

7.10/78.31= 9.0 PE

Fitch Solutions: Lockdown will likely last much longer than two weeks
---------------------------------------------------------------------
Author: savemalaysia | Publish date: Tue, 12 Jan 2021, 7:40 PM

IN all likelihood, the impending movement control order (MCO 2.0) which will come to force after midnight tonight (Jan 13) – initially for a two-week period – is likely to stretch beyond that duration given the Government has declared a state of emergency until Aug 1.

This is not surprising as the previous lockdown which was imposed on March 18 last year lasted close to a quarter in 2Q 2020 and was implemented after a far milder outbreak than the current third wave, according to Fitch Solutions Country Risk & Industry Research.

“Malaysia’s daily case load has averaged about 2,319 since the beginning of the year and set a new record of 3,027 on January 8,” observed the research house in a commentary entitled 2021 Malaysia Growth, Monetary and Fiscal Outlooks Likely Derailed.

“This compares to the average of 149 and peak of 217 in the month between mid-March and mid-April 2020, the last serious episode of the outbreak in the country.”

Fitch Solutions noted that the re-imposition of lockdown measures is in line with its view since early November 2020 when it cited the possibility of a wider lockdown as a downside risk to its interest rate view in 2021.

Well said ! @Vairocana9999- Gloves the best sector in this ferocious Pandemic.


I HAVE STRESSED MANY WEEKS AGO, 2021 A YEAR FULL OF SURPRISES WHEN EVERYONE CAN SHORT SELL (1ST MAC, IDSS IS ALLOWED).

I HAVE ALSO STRESSED MANY WEEKS AGO, RECOVERY STOCKS WILL ONLY SEE SOME LIGHT AT THE END OF 2021, AND THE RECOVERING PROCESS WOULD BE SLOW AND PAINFUL.

BE PREPARED, YOUR HARD EARNED MONEY COULD BE TIED DOWN TILL 2022/2023.

IF YOU STILL WANT TO STICK WITH RECOVERY STOCKS, BE PREPARED FOR SOME MAJOR SURPRISES AND SHOCKS IN COMING MONTHS.勿谓言之不预也。

I HAVE ALSO STRESSED MANY TIMES THAT THE SAFEST BEST IS STILL COMPANIES WHICH BENEFIT THE MOST IN THIS PANDEMIC, WITH INCREASING PAT IN THE NEXT 6-8 QUARTERS, SITTING ON HUGE CASH PILES, WITH EXTREMELY HIGH EPS, AND HANDSOME DIVIDEND.

THESE ARE THE COMPANIES WITH GREAT POTENTIAL OF FUTURE GROWTH OF AT LEAST 15-25% ANNUALLY.

DO NOT WASTE YOUR GOLDEN OPPORTUNITY.

3309 new covid 19 cases today.
--------------------------------
New high

Selangor 1007

Keep safe folks

Gloves to fly tomorrow.

Shorting GLOVES now is suicidal- as the Sentiment towards Gloves is so STRONG

Sooner or later SHORTIES will surrender and create panic short covering.

Lets enjoy the show.
-------------------------------

Posted by chiongmouguai > Jan 12, 2021 3:01 PM | Report Abuse

Are funds still shorting glove stocks? Anyone can enlighten please

MCO 2.0 will be extended after two weeks, as two weeks time will not be enough to curb the spread of Covid-19 pandemic.

MCO 2.0 and the Darurat will only affect the sentiment of our local stock market in the short term. The drop in share price due to these reasons might serve you a good opportunity to buy those fundamentally good stocks at cheaper price especially GLOVES ie Supermax.

Always remember it is really important to only invest in good fundamental companies.

Stay away from Banks & Tourism related stock- Genting.

Defensive Sectors- GLOVES
====================
Personally, I believe the best sectors to have in your portfolio right now to hedge against the pandemic will be the Rubber Glove and Semiconductor sector. As we all know, the Covid-19 pandemic has impacted most businesses badly in Malaysia and worldwide.

The Rubber Glove is one of the sectors proven to be pandemic-proof. Due to the increasing demand for rubber glove in the whole world, the demand has far exceeded the supply of rubber gloves available. As such, the average selling price of glove has been increasing to a skyrocket level which give all rubber glove companies an handsome margins of profit to work with.

At the point of writing this article, the whole world is still battling Covid-19 pandemic, and there is no signs of slowing down even with the vaccines available. Even though all rubber glove stocks price have been hammered down in the past 2 months, I believe the downside is minimal at current price level. The fundamentals of rubber glove businesses are still intact and getting better every quarter. So it is a must to have a portion of rubber glove companies in your portfolio.

These are the sectors that will be affected by MCO 2.0, according to CGS-CIMB

1- Banking
2-Airlines
3-Gaming
4-Brewers
5-REITS
--------------------------------------------

theedgemarkets.com

January 12, 2021 12:08 pm +08


Consumer sales will be impacted by lower footfall, reduced dining-out activities and shorter operating hours, says CGS-CIMB.

KUALA LUMPUR (Jan 12): CGS-CIMB expects the second round of movement control order (MCO 2.0) to weigh on brewers, consumer, gaming, real estate investment trusts (REITs), airlines and banks.

X

MCO throws spanner in recovery
--------------------------------
Tuesday, 12 Jan 2021

PETALING JAYA: Many economists previously warned that Malaysia could not afford another lockdown but with four-digit Covid-19 daily cases recorded since end-November 2020, they said the government is running out of options to contain the deadly virus outbreak.

Economists said the movement control order (MCO) commencing tomorrow is less stringent compared with the previous MCO implemented on March 18,2020.

The MCO would slow the expected economic recovery this year.