Shares in FeiTian Technologies, the largest listed digital cryptography security service provider listed in Shenzhen stock exchange, hit limit up for 3 consecutive days after China's PBOC approved the testing of digitalization of the Yuan. The major digital security service provider of Didi Chuxing, which owns 8% in Malaysia listed Securemetric Berhad, is poised to expand its presence in South East Asia.

Note that on 8 July 2020, Securemetric had abnormal surge in trading volume of almost 50% of its outstanding shares being traded in a single day. We believe that FeiTian Technologies could have accumulated shares in Securemetric Berhad in bid to expand its presence in South East Asia.

Just last week, 25mil shares in Securemetric exchanged hands at RM0.20 (close to 90% premium to its current share price).

Fei Tian Technologies (SHE: 300386), a Shenzhen listed digital security company has hit limit up of 10% for 3 days in a row in China.

The shares hit limit up due to being the main vendor of key digital security vendor for China's e-hailing giant Didi Chuxing in digitalization of China Yuan.

Fei Tian Technologies has a 8% associate in Malaysia, Securemetric Berhad.

Securemetric Berhad recently entered into e-KYC contract with Indonesia's largest e-KYC company, PrivyID.

Note that Securemetric had recently completed its funding round of 7% of its total outstanding shares.

We believe that Fei Tian Technologies view Securemetric has a way to penetrate South East Asia region.

Securemetric recorded over 250mil shares traded on 7 July 2020. This represents circa. 44% of total outstanding shares in the company.

We believe there could be a potential change in shareholders as shareholding records show Feitian Technologies owning 8% of Securemetric.

Note that Securemetric recently raise RM5mil from its private placement round to further invest in Indonesia's 1st non-commercial e-KYC company PrivyID. Further, an MOU has recently been entered with Innov8tif to further enhance its e-KYC capabilities. We believe the private placement funding round was taken up by Feitian Technologies.

Riding on Feitian Technologies existing expertise and close relationship with Tencent, the room for growth will be very explosive.

We further note that Securemetric's CEO had recently disposed 25 million shares off market at RM0.20 per share (66% premium to current market price). We believe the buyer could be Feitian Technologies.

Harta C41 and Harta C44 currently trades at an unjustified low premium compared other call warrants.

This occurs due to the issuer investment bank's inventory clearing system via its bid and sell trades as market making.

During the market making process, the issuer investment bank queues at system computed implied premium to clear off all inventories.

For Harta C41 and Harta C44, the inventories are very close to be cleared off soon, upon clearing off, the premium may rise that will be an arbitrage opportunity.

At current premium, both call warrants are not updated with the new implied market making premium price, thus the system consistently buy and sells at a lower premium.

The premium will rise as more inventories are cleared off. In short, the more active the trade, the faster the inventories will be cleared off.

Hartalega is the only company in the world that is able to produce the AMG Antimicrobial gloves that can kill 99.999% of bacteria transmission in gloves patented by Hartalega.

Share price rally in recent days could be due to investors appreciating the AMG Antimicrobial gloves that will replace nitrile gloves as the number 1 glove in the world.

Ranking:

1. AMG Antimicrobial gloves (Only Hartalega can produce)

2. Nitrile gloves (All big 4 can produce high quality, other company can produce at lower quality)

3. All other gloves (Every company can produce)

Hartalega is the only company in the world that is able to produce the AMG Antimicrobial gloves that can kill 99.999% of bacteria transmission in gloves patented by Hartalega.

Share price rally in recent days could be due to investors appreciating the AMG Antimicrobial gloves that will replace nitrile gloves as the number 1 glove in the world.

Ranking:

1. AMG Antimicrobial gloves (Only Hartalega can produce)

2. Nitrile gloves (All big 4 can produce high quality, other company can produce at lower quality)

3. All other gloves (Every company can produce)

Hartalega is the only company in the world that is able to produce the AMG Antimicrobial gloves that can kill 99.999% of bacteria transmission in gloves patented by Hartalega.

Share price rally in recent days could be due to investors appreciating the AMG Antimicrobial gloves that will replace nitrile gloves as the number 1 glove in the world.

Ranking:

1. AMG Antimicrobial gloves (Only Hartalega can produce)

2. Nitrile gloves (All big 4 can produce high quality, other company can produce at lower quality)

3. All other gloves (Every company can produce)

Hartalega is the only company in the world that is able to produce the AMG Antimicrobial gloves that can kill 99.999% of bacteria transmission in gloves patented by Hartalega.

Share price rally in recent days could be due to investors appreciating the AMG Antimicrobial gloves that will replace nitrile gloves as the number 1 glove in the world.

Ranking:

1. AMG Antimicrobial gloves (Only Hartalega can produce)

2. Nitrile gloves (All big 4 can produce high quality, other company can produce at lower quality)

3. All other gloves (Every company can produce)

6 more months until the end of 2020.

As of date, Hartalega is still the largest.

Nobody will know if Topglove's new lines will incur hiccups in production or production overruns.

Hartalega is certain, Topglove is uncertain.

Harta current Nitrile production - 38bil Nitrile gloves
Topglove current Nitrile production - 37bil Nitrile gloves

Harta's customers - Large reputable US medical industry
Topglove customers - Satured

Harta's ASP blend - Lower by 2%
Topglove ASP blend - Higher by 2%

Harta's net margin - Higher by 8% per 1% increase in ASP
Topglove's net margin - Lower by 8% per 1% increase in ASP

Conclusion: Harta net profit will be the same as Topglove despite Topglove's capacity being double.

Hartalega's founder directors acquisition of shares is a positive sign that the share price is currently undervalued.

To date, Hartalega is the largest nitrile glove producer in the world with a 96% Nitrile 4% Others mix.

Compared to the 2nd largest nitrile glove producer, Top Glove of 47% nitrile and 53% latex and others.

Investors are beginning to uncover that the world's medical industry are short of nitrile gloves, not latex gloves, thus the sell down in Top Glove and Supermax shares to reposition to Hartalega shares.

Hartalega has also the largest customer base in US and medical industry compared to other glove producers.

The acute glove shortage in the world is most beneficial to Hartalega compared to other glove producers as other glove producers customer mix are saturated.

Further catalyst is Hartalega's patented AMG Antimicrobial gloves approval by FDA which will create further premium valuation.

Hartalega's founder directors acquisition of shares is a positive sign that the share price is currently undervalued.

To date, Hartalega is the largest nitrile glove producer in the world with a 96% Nitrile 4% Others mix.

Compared to the 2nd largest nitrile glove producer, Top Glove of 47% nitrile and 53% latex and others.

Investors are beginning to uncover that the world's medical industry are short of nitrile gloves, not latex gloves, thus the sell down in Top Glove and Supermax shares to reposition to Hartalega shares.

Hartalega has also the largest customer base in US and medical industry compared to other glove producers.

The acute glove shortage in the world is most beneficial to Hartalega compared to other glove producers as other glove producers customer mix are saturated.

Further catalyst is Hartalega's patented AMG Antimicrobial gloves approval by FDA which will create further premium valuation.

Hartalega's founder directors acquisition of shares is a positive sign that the share price is currently undervalued.

To date, Hartalega is the largest nitrile glove producer in the world with a 96% Nitrile 4% Others mix.

Compared to the 2nd largest nitrile glove producer, Top Glove of 47% nitrile and 53% latex and others.

Investors are beginning to uncover that the world's medical industry are short of nitrile gloves, not latex gloves, thus the sell down in Top Glove and Supermax shares to reposition to Hartalega shares.

Hartalega has also the largest customer base in US and medical industry compared to other glove producers.

The acute glove shortage in the world is most beneficial to Hartalega compared to other glove producers as other glove producers customer mix are saturated.

Further catalyst is Hartalega's patented AMG Antimicrobial gloves approval by FDA which will create further premium valuation.

Hartalega's founder directors acquisition of shares is a positive sign that the share price is currently undervalued.

To date, Hartalega is the largest nitrile glove producer in the world with a 96% Nitrile 4% Others mix.

Compared to the 2nd largest nitrile glove producer, Top Glove of 47% nitrile and 53% latex and others.

Investors are beginning to uncover that the world's medical industry are short of nitrile gloves, not latex gloves, thus the sell down in Top Glove and Supermax shares to reposition to Hartalega shares.

Hartalega has also the largest customer base in US and medical industry compared to other glove producers.

The acute glove shortage in the world is most beneficial to Hartalega compared to other glove producers as other glove producers customer mix are saturated.

Further catalyst is Hartalega's patented AMG Antimicrobial gloves approval by FDA which will create further premium valuation.

UG healthcare launched later.

UG healthcare also do not have the scale to produce as massively many as Hartalega capacity

Glove stocks continue to collapse after overheating and over optimism.

Topglove: Investors begin to question analysts FY21 earnings calculation for Topglove and drastic normalization in earnings after FY21.

Supermax: Investors begin to understand that higher OBM revenue does not translate to higher profit as cost is not well maintain.



The only sustainable glove stock is Hartalega.

- 51% of Hartalega's revenue are from US and medical healthcare. The worst Covid hit region and growing is US. No other glove companies have larger presence in the US.

- Many investors begin to understand that Topglove's ASP rise to US37/'000 gloves will be catch up by Hartalega. Hartalega's customers had reach out to Topglove to quote forward sales and noted that Topglove's ASP is higher, giving the chance for Hartalega to raise ASP to US$33 to US$35/'000 pieces.

- Hartalega is the only glove company in the world that able to produce Antimicrobial glove on a big scale. Once approved by FDA, this glove will be sold out for many years until FY2022 and beyond. This gloves are already sold in the Europe.

- World shortage is on nitrile gloves, not latex gloves. Hartalega produces 95% nitrile gloves. No other glove company produce as much nitrile glove as Hartalega.

- Next quarter earnings expected to be RM250mil- RM300mil, Q2'21 is expected to jump to RM500mil and Q3'21 is expected to jump to RM700mil.

- Not like Topglove who will be left with huge idle production lines post Covid, Hartalega will be able to maintain margin efficiency due to not expanding in a big scale in FY21.

- Harta's net profit margin is expected to fetch 35%-39% (vs Topglove of 23%).

- Foreign investment banks have upgraded Hartalega to between RM17 to RM23, while local investment bank lag due to wrong focus on Supermax.

Glove stocks continue to collapse after overheating and over optimism.

Topglove: Investors begin to question analysts FY21 earnings calculation for Topglove and drastic normalization in earnings after FY21.

Supermax: Investors begin to understand that higher OBM revenue does not translate to higher profit as cost is not well maintain.



The only sustainable glove stock is Hartalega.

- 51% of Hartalega's revenue are from US and medical healthcare. The worst Covid hit region and growing is US. No other glove companies have larger presence in the US.

- Many investors begin to understand that Topglove's ASP rise to US37/'000 gloves will be catch up by Hartalega. Hartalega's customers had reach out to Topglove to quote forward sales and noted that Topglove's ASP is higher, giving the chance for Hartalega to raise ASP to US$33 to US$35/'000 pieces.

- Hartalega is the only glove company in the world that able to produce Antimicrobial glove on a big scale. Once approved by FDA, this glove will be sold out for many years until FY2022 and beyond. This gloves are already sold in the Europe.

- World shortage is on nitrile gloves, not latex gloves. Hartalega produces 95% nitrile gloves. No other glove company produce as much nitrile glove as Hartalega.

- Next quarter earnings expected to be RM250mil- RM300mil, Q2'21 is expected to jump to RM500mil and Q3'21 is expected to jump to RM700mil.

- Not like Topglove who will be left with huge idle production lines post Covid, Hartalega will be able to maintain margin efficiency due to not expanding in a big scale in FY21.

- Harta's net profit margin is expected to fetch 35%-39% (vs Topglove of 23%).

- Foreign investment banks have upgraded Hartalega to between RM17 to RM23, while local investment bank lag due to wrong focus on Supermax.

Glove stocks continue to collapse after overheating and over optimism.

Topglove: Investors begin to question analysts FY21 earnings calculation for Topglove and drastic normalization in earnings after FY21.

Supermax: Investors begin to understand that higher OBM revenue does not translate to higher profit as cost is not well maintain.



The only sustainable glove stock is Hartalega.

- 51% of Hartalega's revenue are from US and medical healthcare. The worst Covid hit region and growing is US. No other glove companies have larger presence in the US.

- Many investors begin to understand that Topglove's ASP rise to US37/'000 gloves will be catch up by Hartalega. Hartalega's customers had reach out to Topglove to quote forward sales and noted that Topglove's ASP is higher, giving the chance for Hartalega to raise ASP to US$33 to US$35/'000 pieces.

- Hartalega is the only glove company in the world that able to produce Antimicrobial glove on a big scale. Once approved by FDA, this glove will be sold out for many years until FY2022 and beyond. This gloves are already sold in the Europe.

- World shortage is on nitrile gloves, not latex gloves. Hartalega produces 95% nitrile gloves. No other glove company produce as much nitrile glove as Hartalega.

- Next quarter earnings expected to be RM250mil- RM300mil, Q2'21 is expected to jump to RM500mil and Q3'21 is expected to jump to RM700mil.

- Not like Topglove who will be left with huge idle production lines post Covid, Hartalega will be able to maintain margin efficiency due to not expanding in a big scale in FY21.

- Harta's net profit margin is expected to fetch 35%-39% (vs Topglove of 23%).

- Foreign investment banks have upgraded Hartalega to between RM17 to RM23, while local investment bank lag due to wrong focus on Supermax.

Glove stocks continue to collapse after overheating and over optimism.

Topglove: Investors begin to question analysts FY21 earnings calculation for Topglove and drastic normalization in earnings after FY21.

Supermax: Investors begin to understand that higher OBM revenue does not translate to higher profit as cost is not well maintain.



The only sustainable glove stock is Hartalega.

- 51% of Hartalega's revenue are from US and medical healthcare. The worst Covid hit region and growing is US. No other glove companies have larger presence in the US.

- Many investors begin to understand that Topglove's ASP rise to US37/'000 gloves will be catch up by Hartalega. Hartalega's customers had reach out to Topglove to quote forward sales and noted that Topglove's ASP is higher, giving the chance for Hartalega to raise ASP to US$33 to US$35/'000 pieces.

- Hartalega is the only glove company in the world that able to produce Antimicrobial glove on a big scale. Once approved by FDA, this glove will be sold out for many years until FY2022 and beyond. This gloves are already sold in the Europe.

- World shortage is on nitrile gloves, not latex gloves. Hartalega produces 95% nitrile gloves. No other glove company produce as much nitrile glove as Hartalega.

- Next quarter earnings expected to be RM250mil- RM300mil, Q2'21 is expected to jump to RM500mil and Q3'21 is expected to jump to RM700mil.

- Not like Topglove who will be left with huge idle production lines post Covid, Hartalega will be able to maintain margin efficiency due to not expanding in a big scale in FY21.

- Harta's net profit margin is expected to fetch 35%-39% (vs Topglove of 23%).

- Foreign investment banks have upgraded Hartalega to between RM17 to RM23, while local investment bank lag due to wrong focus on Supermax.

Glove stocks continue to collapse after overheating and over optimism.

Topglove: Investors begin to question analysts FY21 earnings calculation for Topglove and drastic normalization in earnings after FY21.

Supermax: Investors begin to understand that higher OBM revenue does not translate to higher profit as cost is not well maintain.



The only sustainable glove stock is Hartalega.

- 51% of Hartalega's revenue are from US and medical healthcare. The worst Covid hit region and growing is US. No other glove companies have larger presence in the US.

- Many investors begin to understand that Topglove's ASP rise to US37/'000 gloves will be catch up by Hartalega. Hartalega's customers had reach out to Topglove to quote forward sales and noted that Topglove's ASP is higher, giving the chance for Hartalega to raise ASP to US$33 to US$35/'000 pieces.

- Hartalega is the only glove company in the world that able to produce Antimicrobial glove on a big scale. Once approved by FDA, this glove will be sold out for many years until FY2022 and beyond. This gloves are already sold in the Europe.

- World shortage is on nitrile gloves, not latex gloves. Hartalega produces 95% nitrile gloves. No other glove company produce as much nitrile glove as Hartalega.

- Next quarter earnings expected to be RM250mil- RM300mil, Q2'21 is expected to jump to RM500mil and Q3'21 is expected to jump to RM700mil.

- Not like Topglove who will be left with huge idle production lines post Covid, Hartalega will be able to maintain margin efficiency due to not expanding in a big scale in FY21.

- Harta's net profit margin is expected to fetch 35%-39% (vs Topglove of 23%).

- Foreign investment banks have upgraded Hartalega to between RM17 to RM23, while local investment bank lag due to wrong focus on Supermax.

Glove stocks continue to collapse after overheating and over optimism.

Topglove: Investors begin to question analysts FY21 earnings calculation for Topglove and drastic normalization in earnings after FY21.

Supermax: Investors begin to understand that higher OBM revenue does not translate to higher profit as cost is not well maintain.



The only sustainable glove stock is Hartalega.

- 51% of Hartalega's revenue are from US and medical healthcare. The worst Covid hit region and growing is US. No other glove companies have larger presence in the US.

- Many investors begin to understand that Topglove's ASP rise to US37/'000 gloves will be catch up by Hartalega. Hartalega's customers had reach out to Topglove to quote forward sales and noted that Topglove's ASP is higher, giving the chance for Hartalega to raise ASP to US$33 to US$35/'000 pieces.

- Hartalega is the only glove company in the world that able to produce Antimicrobial glove on a big scale. Once approved by FDA, this glove will be sold out for many years until FY2022 and beyond. This gloves are already sold in the Europe.

- World shortage is on nitrile gloves, not latex gloves. Hartalega produces 95% nitrile gloves. No other glove company produce as much nitrile glove as Hartalega.

- Next quarter earnings expected to be RM250mil- RM300mil, Q2'21 is expected to jump to RM500mil and Q3'21 is expected to jump to RM700mil.

- Not like Topglove who will be left with huge idle production lines post Covid, Hartalega will be able to maintain margin efficiency due to not expanding in a big scale in FY21.

- Harta's net profit margin is expected to fetch 35%-39% (vs Topglove of 23%).

- Foreign investment banks have upgraded Hartalega to between RM17 to RM23, while local investment bank lag due to wrong focus on Supermax.

Glove stocks continue to collapse after overheating and over optimism.

Topglove: Investors begin to question analysts FY21 earnings calculation for Topglove and drastic normalization in earnings after FY21.

Supermax: Investors begin to understand that higher OBM revenue does not translate to higher profit as cost is not well maintain.



The only sustainable glove stock is Hartalega.

- 51% of Hartalega's revenue are from US and medical healthcare. The worst Covid hit region and growing is US. No other glove companies have larger presence in the US.

- Many investors begin to understand that Topglove's ASP rise to US37/'000 gloves will be catch up by Hartalega. Hartalega's customers had reach out to Topglove to quote forward sales and noted that Topglove's ASP is higher, giving the chance for Hartalega to raise ASP to US$33 to US$35/'000 pieces.

- Hartalega is the only glove company in the world that able to produce Antimicrobial glove on a big scale. Once approved by FDA, this glove will be sold out for many years until FY2022 and beyond. This gloves are already sold in the Europe.

- World shortage is on nitrile gloves, not latex gloves. Hartalega produces 95% nitrile gloves. No other glove company produce as much nitrile glove as Hartalega.

- Next quarter earnings expected to be RM250mil- RM300mil, Q2'21 is expected to jump to RM500mil and Q3'21 is expected to jump to RM700mil.

- Not like Topglove who will be left with huge idle production lines post Covid, Hartalega will be able to maintain margin efficiency due to not expanding in a big scale in FY21.

- Harta's net profit margin is expected to fetch 35%-39% (vs Topglove of 23%).

- Foreign investment banks have upgraded Hartalega to between RM17 to RM23, while local investment bank lag due to wrong focus on Supermax.

Glove stocks continue to collapse after overheating and over optimism.

Topglove: Investors begin to question analysts FY21 earnings calculation for Topglove and drastic normalization in earnings after FY21.

Supermax: Investors begin to understand that higher OBM revenue does not translate to higher profit as cost is not well maintain.



The only sustainable glove stock is Hartalega.

- 51% of Hartalega's revenue are from US and medical healthcare. The worst Covid hit region and growing is US. No other glove companies have larger presence in the US.

- Many investors begin to understand that Topglove's ASP rise to US37/'000 gloves will be catch up by Hartalega. Hartalega's customers had reach out to Topglove to quote forward sales and noted that Topglove's ASP is higher, giving the chance for Hartalega to raise ASP to US$33 to US$35/'000 pieces.

- Hartalega is the only glove company in the world that able to produce Antimicrobial glove on a big scale. Once approved by FDA, this glove will be sold out for many years until FY2022 and beyond. This gloves are already sold in the Europe.

- World shortage is on nitrile gloves, not latex gloves. Hartalega produces 95% nitrile gloves. No other glove company produce as much nitrile glove as Hartalega.

- Next quarter earnings expected to be RM250mil- RM300mil, Q2'21 is expected to jump to RM500mil and Q3'21 is expected to jump to RM700mil.

- Not like Topglove who will be left with huge idle production lines post Covid, Hartalega will be able to maintain margin efficiency due to not expanding in a big scale in FY21.

- Harta's net profit margin is expected to fetch 35%-39% (vs Topglove of 23%).

- Foreign investment banks have upgraded Hartalega to between RM17 to RM23, while local investment bank lag due to wrong focus on Supermax.

OTB cut loss?

OTB cut loss?

Those who bark about others singing second wave third wave. We are prepared to hold until next year. Then no, don't be my guest and do not take the risk.

Don't need panic.

Fed's unlimited stimulus directly benefits Hartalega due to Hartalega's reputable US customer base.

Hartalega is underappreciated compared to Top Glove and Supermax.

Today will be Hartalega and Top Glove day

Thanks CharlesT for the advice.

It made me a better trader.

put in glove is safest.

US market fall due to fear of Covid wave 2.

There are spike in outbreak in US in some states.

The larger the outbreak, the more gloves required.

It will go up further. Don't need wait for solid reversal.

Hartalega is the only direct beneficiary of Fed stimulus funding among the big 4 players.

Hartalega's customer base are reputable healthcare and government agencies in the US, these agencies benefit directly from Fed's commitment to unlimited stimulus funding.

PublicInvest TP RM35
OCBC TP RM33
JP Morgan TP RM37.5

TP upgraded to RM35

TP upgraded to RM25