Mexican authorities recorded more deaths Wednesday than any other day since the Covid-19 pandemic began.

Health officials said 1,092 coronavirus-related fatalities were identified in 24 hours -- more than doubling the previous single-day record. The previous high, 501 deaths, was announced last week.

More than 11,700 virus-related deaths have been recorded in the country.

An important caveat: Deputy Health Secretary Hugo López Gatell has consistently said the vast majority of deaths reported each day did not occur the day they were reported. Delays in counting deaths attributed to the virus mean that the deaths reported each day have occurred over the past several weeks.

Another record: Authorities said they also identified another 3,912 cases of Covid-19 -- another daily record and the second day in a row that Mexico had its largest daily increase of new cases.

Mexico has now recorded 101,238 cases -- surpassing 100,000 cases for the first time and becoming the 14th country worldwide to do so, according to Johns Hopkins University's tally.

KUALA LUMPUR (June 4): Credit Suisse has raised its target price for Top Glove Corp Bhd to RM23, more than double of RM11.30 previosly, on the ground that there has been a recent rise in ad hoc and spot orders by government agencies needing urgent deliveries.

In a note dated June 3, Credit Suisse analyst Joanna Cheah said while pricing was not locked in upfront for these volumes, the group took deposits between 10% and 30%, based on projected average selling price (ASP) increases depending on the expected month of delivery and thus, Top Glove had decided to allocate 10% of its capacity for these spot orders.

"Given the long lead time for normal orders, it is therefore no surprise that ASP for the ad hoc spot orders is much higher.

"According to management, some of these orders were priced above US$100 per 1000 pieces, which is more than three times higher than the current blended ASP for the normal orders," Cheah said.

In addition, while the company was previously guiding for 5%-10% increases in ASP every quarter, given the further squeeze in demand-supply for gloves, it was now guiding for a monthly double-digit ASP increase at least for the next two months.

"Given the revised strategy and ASP guidance by the company, we have raised our FY20 (financial year 2020)-FY22 earnings per share by 20%-135%. We now expect the group's earnings to grow 182% in FY20, a further 122% in FY21 but decline by 63% in FY22 as ASP normalises.

"Our earnings forecast assumes that ASP will rise by 20% in FY21 for both nitrile and powder-free gloves, and decline by 20% in FY22," she said.

She added that Top Glove's results for the third quarter of FY20 set to be released on June 11 are expected to be strong and should drive further rerating of the stock.

"One of the key concerns has been the risk of oversupply as the rubber glove players embark on expansion and demand settles post the pandemic. Looking at the current planned supply by the top five major players (including Sri Trang), we think there will be a squeeze in demand-supply for the next two years," she said.

Just yesterday, the price-earnings valuation of Hartalega, Top Glove and Rubberex breached the 100 times mark, which is rarely seen among manufacturing-oriented companies.

She noted the current demand is estimated to be 50%-60% higher if not for capacity constraints resulting in long lead time.

Meanwhile, estimated supply is expected to grow by 9% cumulatively between now and end-2020 and another 12% by end-2021.

At the midday break today, Top Glove rose 1.49% or 22 sen to RM14.92, valuing it at RM39.25 billion.

KUALA LUMPUR (June 4): Credit Suisse has raised its target price for Top Glove Corp Bhd to RM23, more than double of RM11.30 previosly, on the ground that there has been a recent rise in ad hoc and spot orders by government agencies needing urgent deliveries.

In a note dated June 3, Credit Suisse analyst Joanna Cheah said while pricing was not locked in upfront for these volumes, the group took deposits between 10% and 30%, based on projected average selling price (ASP) increases depending on the expected month of delivery and thus, Top Glove had decided to allocate 10% of its capacity for these spot orders.

"Given the long lead time for normal orders, it is therefore no surprise that ASP for the ad hoc spot orders is much higher.

"According to management, some of these orders were priced above US$100 per 1000 pieces, which is more than three times higher than the current blended ASP for the normal orders," Cheah said.

In addition, while the company was previously guiding for 5%-10% increases in ASP every quarter, given the further squeeze in demand-supply for gloves, it was now guiding for a monthly double-digit ASP increase at least for the next two months.

"Given the revised strategy and ASP guidance by the company, we have raised our FY20 (financial year 2020)-FY22 earnings per share by 20%-135%. We now expect the group's earnings to grow 182% in FY20, a further 122% in FY21 but decline by 63% in FY22 as ASP normalises.

"Our earnings forecast assumes that ASP will rise by 20% in FY21 for both nitrile and powder-free gloves, and decline by 20% in FY22," she said.

She added that Top Glove's results for the third quarter of FY20 set to be released on June 11 are expected to be strong and should drive further rerating of the stock.

"One of the key concerns has been the risk of oversupply as the rubber glove players embark on expansion and demand settles post the pandemic. Looking at the current planned supply by the top five major players (including Sri Trang), we think there will be a squeeze in demand-supply for the next two years," she said.

Just yesterday, the price-earnings valuation of Hartalega, Top Glove and Rubberex breached the 100 times mark, which is rarely seen among manufacturing-oriented companies.

She noted the current demand is estimated to be 50%-60% higher if not for capacity constraints resulting in long lead time.

Meanwhile, estimated supply is expected to grow by 9% cumulatively between now and end-2020 and another 12% by end-2021.

At the midday break today, Top Glove rose 1.49% or 22 sen to RM14.92, valuing it at RM39.25 billion.

Bank stock? Bankrupt stock?

3.70 can pecah? Anyone here can push? Ooi....IB do something...dun keep on eating small fish only

Who got chance to top up ytd congrats to u and laughing to the bank again

If they limit up today, tmr limit down i dun mind haha

Petramaises, i dunno but i see the chart only telling me that

Looks like going to limit up

Pity those ikan bilis kena bakar gao gao became ikan bakar.

Yes limit up then break 4.20 tmr

https://koonyewyin.com/2020/06/04/why-all-glove-shares-are-rebounding-so-sharply/

https://koonyewyin.com/2020/06/04/why-all-glove-shares-are-rebounding-so-sharply/

Today close RM8

MBB kns la...i closed their acc last week before this margin cap thingy. Phew....use other accounts folks

I cancelled maybank account and margin account last week before they did this. I did utilise the margin but I hate maybank as their service damn LC

Credit Suisse tp topglove RM23

TG tai ko also green, mari mari

Topglove can wake up? It dun wake up others cannot fly higher

Topglove can wake up? It dun wake up others cannot fly higher

Everyone is waiting for TG to be green

Everyone is waiting for TG to be green

Green green green....

When they suppress it so gao gao, later will pump up very gao gao too. Get ready...

RHB的分析师在访问了管理层后，把SUPERMX的目标价从RM6.66大幅提高至RM10.50。
Kenanga 的分析师则把SUPERMX的目标价从RM7.60 大幅提高至 RM10.90。


它们的报告都有共同点，那就是手套需求量远远大过供应，手套售价持续在涨，原料价格还处于低位，OBM 是SUPERMX最大的亮点，一大堆的因素都指向SUPERMX的profit margin会非常夸张的高。

这些都不是一家分析师单方面的说词，而是所有访问过SUPERMX管理层的分析师都是一样的内容，除非是管理层本身在说谎，但这不太可能。因为即使管理层不说，这些现象都是很合理的，这个疫情比我们想象的还可怕，WHO给出的数据是已检测到的确诊人数，但是还有一部分是还未被检测到的，真正的确诊人数肯定比WHO给出的数据还要高。

AmInvestment 在theedgemarkets报导强调，手套价格在接下来的12月会持续上涨。

目前，所有的外在因素和内在因素都是利好于SUPERMX，要说唯一的缺点就是短期内股价涨太快了，如果股价出现回调，简直就是完美。

p/s: 不要傻傻把票丢给银行。~

“The demand for gloves as an essential item in the health care sector was expected to grow by at least 10% each year, even before the onset of the pandemic,” said Top Glove chairman Tan Sri Dr Lim Wee Chai.

“With increased awareness of the importance of gloves arising from the pandemic, people who started using gloves in recent months are expected to continue using them even after the pandemic recedes, further driving demand, which is estimated to grow by 12% per year in the post-Covid-19 environment.

“It is also important to recognise that the spike in demand arising from Covid-19 is temporary. Indeed, over the past 30 years we have seen many epidemics and pandemics — including SARS, Swine Flu, H1N1, Bird Flu and Ebola — as they happen about once every five years. Covid-19 is part of this repeating cycle,” Lim said in an interview with Oxford Business Group.

He said the growth in demand for medical gloves started in China and South Korea, and then it followed in Europe and the US as the virus spread.

Lim said the expansion efforts of Top Glove, the world’s largest producer, was designed to cater to growing demand over the longer term.

“Our company believes that the market will be able to absorb the additional capacity, and we will continue to expand production and adjust plans if necessary,” he said.

Lim noted that Top Glove was already in expansion mode, even before the Covid-19 outbreak.

“We were building around one or two new factories each year and had spare capacity that we were able to utilise to ramp up production as demand more than doubled due to the pandemic. Indeed, our production utilisation has increased from 85% to nearly 100%,” he added.

“The demand for gloves as an essential item in the health care sector was expected to grow by at least 10% each year, even before the onset of the pandemic,” said Top Glove chairman Tan Sri Dr Lim Wee Chai.

“With increased awareness of the importance of gloves arising from the pandemic, people who started using gloves in recent months are expected to continue using them even after the pandemic recedes, further driving demand, which is estimated to grow by 12% per year in the post-Covid-19 environment.

“It is also important to recognise that the spike in demand arising from Covid-19 is temporary. Indeed, over the past 30 years we have seen many epidemics and pandemics — including SARS, Swine Flu, H1N1, Bird Flu and Ebola — as they happen about once every five years. Covid-19 is part of this repeating cycle,” Lim said in an interview with Oxford Business Group.

He said the growth in demand for medical gloves started in China and South Korea, and then it followed in Europe and the US as the virus spread.

Lim said the expansion efforts of Top Glove, the world’s largest producer, was designed to cater to growing demand over the longer term.

“Our company believes that the market will be able to absorb the additional capacity, and we will continue to expand production and adjust plans if necessary,” he said.

Lim noted that Top Glove was already in expansion mode, even before the Covid-19 outbreak.

“We were building around one or two new factories each year and had spare capacity that we were able to utilise to ramp up production as demand more than doubled due to the pandemic. Indeed, our production utilisation has increased from 85% to nearly 100%,” he added.

Aiyoyo whatever it is, wait for US second wave then gloves rocket again. They riot until like that u think won't have seond wave?

Aiyoyo whatever it is, wait for US second wave then gloves rocket again. They riot until like that u think won't have seond wave?

Come la...later limit down again...

Dun need to worry uncle as im sure he won't use margin anymore

U see RM7 soon

Supermax selling to US is USD150 now bodoh

Alex u cut kukubird when RM18

Thanks to all the bankers, faster grab while u can

I mean today back to RM7 at least not a problem, my tp at least RM18

RM7 not a problem

Guys remember FA never change

Guys remember FA never change

Thought this morning shopping, who knows mega sales now

Cunning man....limit down lol

Those IB main sendiri so we just take the ride. Last chance for u to top up. US riot after this sure have second wave. Think yourself as now they are selling USD150 already. It is possible USD200 soon.

Those IB main sendiri so we just take the ride. Last chance for u to top up. US riot after this sure have second wave. Think yourself as now they are selling USD150 already. It is possible USD200 soon.

https://klse.i3investor.com/servlets/ptres/55498.jsp

Contrary to our earlier assumptions, the industry ASP has risen further month-on-month in anticipation of tighter supply and supernormal demand due to the pandemic. We highlight that SUPERMXs OBM distribution model could yield higher price and margins. Industry ASP over the next few months is now higher by between 5% and 15%, as opposed to the previous monthly 5% hike. With a diverse customer base, we expect SUPERMX to have better pricing power, potentially getting higher than industry average selling prices. Hence, we raised our FY20E/FY21E net profit by 11%/43%, to account for higher margins. TP is raised from RM7.60 to RM10.90 based on unchanged 26x CY21E EPS. Reiterate OP.

Haha many ppl still want to scare ppl in the forum here. IB geh? Still not enough to slaughter ppl? Dun like that, how can u all always win.

Margin cap revised is them, tp high price also them

Anaconder dun create fears

CIMB NEW TP RM 9.80
https://rfs.cgs-cimb.com/api/download?file=EBDAD83F-32B5-46DB-907C-F07...

RHB NEW TP RM 10.50
https://research.rhbtradesmart.com/attachments/75/rhb-report-my_superm...

Who knows later bank revised no such thing like MYEG case hahaha

Total7, now all banker scare it will fly to RM8 so they r trying to stop it. I think it is unstoppable, it is about matter of time already. For forward PE and based on TG PE now, Supermax shd be around RM9.30