U r really noob…u got count how many rounds of private placement and RI to raise fund? What a good company will look like is buying good asset with internal raised funds. E.g increased operating cash.

For KNM, always need to raise fund by diluting share holders shares. From few bucks dilute until 20sen la taikor. Why? Can’t generate cash for shit. Everytime need to do anything, RI and PP dilute share holders shares. Blind also no need go so far gua.

“What do you mean not in balance sheet ? where are all those new assets coming from ? fall down from sky ? “

That's why I still think you are noob. Ask you very simple question. Is it possible that every dollar company made. Can it lose 20sen? If can, does it make sense to own this business?

Then u give me long @ss essay that says NOTHING. With sales, only sekeciput profit. No sales is gonna be deep deep in the red. Dangerous business to own.

I see from operating cash. Like Serba...billion2 receivables and yada2. No cash. Everytime need to pay dividend, hv to do private placement. Then everyone know it's a shitty company.

Operating cash for KNM is ok ok la. Receivables to operating cash conversion is still healthy. "Billion" of sales only translate abit into cash. If the billions u claim can translate to cash, why I don't see them on balance sheet? Where genius? Where?

If company making billion dollars of revenue but can't translate into cash in balance sheet only explains one thing. Directors are paying themselves by increasing operational expense. Left nothing for the investors. It's not something you want to own either.

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Do you know what is "Profit" and what is "Loss" ? Profit and Loss are just an accounting play. Sales is the actual money coming in. Profit or Loss is "what you want". you can get "what you want" easily. The difficult part is to get the Sales, not the Profit and Loss. Some of you may claim that the sales are "fake", if it is "fake" no way you can do it for so many years, especially when it is RM1 billion+ sales every year ? Can you ? KNM Sales is real for sure because nobody can "fake" such a big sales for so many years without significant increase in borrowings.

Feel like KNM is struggling with power play. Price is pressed down so that in event needing private placement, the benefactor can get more shares with his RM100M private placement. Every 10% drop = 10% more shares. Think about it.

Dunno kerja siapa ini.

Like I say, KNM do hv performing asset that can finance the next RM370M bond/Loan. It's not USD370M. If USD370M bond, I also won't touch with 10 ft pole. Remember it's RM yeah. About USD84m. Just which bank and what finance charges.

KNM is in position to benefit who only. If sell Borsig cheap which benefit next buyer, KNM will hv excess cash dunno what to do. Or they refinance the bond with loan, which will benefit the banks with dunno what finance charges. Else, PP 100M + Current cash position also can settle.

Jack Y my concern is how to deal with the debt. is either selling ORSIG or UK project or any other action... every action will have diff impact to the shareholder.
28/10/2021 8:50 PM

Great, now u think any counter can become maybank just like anybody can be become Lee Chong Wei. Thats why i think u noob.

So, tell me more about borsig. How much did KNM spent to acquire Borsig. Whats the ROCE?
Less ITDA, whats left from borsig’s revenue?

after reading ur whole writing. I can conclude you are noob nedgeon.

Ask you simple question. Even with RM10B sales, can PAT go negative?
And if it can go negative, what the point of having RM20B revenue?

U need to watch out fixed expenses especially company with big revenue but small profit carefully. *touchwood any thing happens to the revenue, the PAT goes deep deep in the red.

What I really really don’t like about KNM is it almost RM1B in goodwill asset. You know apa itu asset? BFF with Donald Trump is it? Can liquidate one or not?

it’s a gamble to assume everyone is Lee Chong Wei.

nedgeon, u think everyone Lee Chong Wei merrr?

if u want to play buy and wait….go buy maybank or Bauto. At least they pay dividend. Hold 10 years also no worries. Can’t say the same for KNM.

Jatuh all the way samp 9/11. Harga akan jatuh mcm WTC dulu.

imvu besok hijau , minggu depan hijau ?
28/10/2021 4:27 PM

This analogy not entire accurate... House has advantage on every metrics. They design the casino layout. They give options only to their favour, like free rooms and cheap alcohol. They replace non performing dealers. What about you retailer? The weird part is, people still go donate money there.

If you are gambler here, you will lose 10/10.

If you are investor, you are playing different game. It's a game of valuation. I check the bond...it's RM370M around 80M USD. Current operating cash can finance the operational expenses and finance cost. Given it's performing asset, I don't think it's that difficult to get restructure the bond/loan like how Armada pare down their 18B debts as long they hv performing asset. Keyword here is performing and non performing asset. What's left is which banks wants a piece of 350M loan at what interest only.

Once restructured, easy 10-20% return.


nedgeon Do you all know why casino make so much money and gamblers always end up losing ? it is all about holding power. Casino can afford to "lose" and hold-on until they win back all the money that they "lost"

if u want to take a gamble, it's on 8th Nov at lowest. It will slide all the way there.

Those hoping to exit higher and those hoping to make quick bucks will all dump by then.

If they get relisted, 100% return no problem. But if they can't. Tapau liao lo.

then why do u think they fired KPMG if it's not the same issue? It's the same reason.
Only way SCIB can say it's not the same is let KPMG continue their audit and finish. If they hadn't fired KPMG they would hv got their audit report by now.

Karlos
If these recent issues of shares via PP are successful it indicates nothing wrong with SCIB, unlike SD which have totally different issues with accounting. Mind you these people who had subscribed to these PP are not ordinary bilis. They are normally well informed and have done thorough due diligence prior to putting their money.

Wait few more days with margin call...drop even lower...

Why wait margin call only sell le?

they start to see big lot throwing...they siam...

If accidentally collect 30sen...they have to absorb more losses.

When there is a selling pressure, u will see the 47mil queue cancelled a blink of an eye.

dompeilee BIG Q of 47mil shrs @ 30c likely to be breached...
27/10/2021 10:19 AM

Ppl that's holding praying that they can exit higher. Ppl that just enter praying that they can get quick money. As the day gets closer to suspension; they will eventually lose hope and start dumping. Now the question is why don't u exit now at 30sen so that u won't have to exit at 20sen?


Hotstuff wtf are you talking??? suspended on 9 NOV what make you think people will collect??? it wont have any rebound..price will keep going down till the day of suspension
27/10/2021 10:03 AM

U can trap Shortist if market agrees TG is worth above RM3...Problem is market don't think so...

if RSS kena short squeeze, price can bounce to RM5 where short hv no choice but to cover their position high. Problem is where? Everyone is happy to sell for 5% gain. NOBODY willing to buy anything above RM25B market cap. They probably value it at RM15B.

Fearmongering was also the tactic to goreng from TG from RM2 to RM9. But you guys seems to have problem when fearmongering when it's used to drive the price down from RM9 to RM2? =D

ularsawa please top up ur FD again…

Margin call sudah…=P

Something is brewing...Per queue size as big as 2M shares and multiples of 500K shares...

Something is brewingggg...I think it's gonna go big soon...

Do you guys have any problem if COVID is gonna be another seasonal flu?

If you are ready for that, then you are ready to let TopGlove go.

Those that enter last year May and exited December. Is the winner.
Those that short sell last year December and covered their position now is the winner.

The only s#cker here are those that bought last year December and all the way down now.

Booster dose is gonna be like another seasonal flu jab you get. That's what going to happen with or without JPM macai. Because that's called moving on.

U guys are behaving like a toxic bf after getting dumped. Threatening the ex-gf that if you leave, her world is gonna fall apart. Hell not. She moves on just fine. Probably you guys should too. =P

3 stooges making pointless comment.

And market are filled with stooges like these. So, don't surprise thing go ridiculously overpriced or undervalued.

U start a list and see….I might consider put my name there…

GlovesOff Only this 3 sorr chaiss

M sure there will be more sign up if pembuli is Ular ....
*******
1. Zuliana
2. UlarSawa
3. Mabel
4

U go buy tanco…dont cry when drop back 5sen…

Sell queue set by the same person buying?

That why need to sell borsig

KNM if SPAC Borsig worth RM1.5-2.5B...

No worries…TSLWC hv his networth drop from 30b to 7b…desperate or not I don’t know…

I dunno how much u burn…But 23B sure painful as hell…

sorry if I jinxed it.

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RJ87 TSLWC support until lembik just to get 3sen up.

C tmr how. If support still hv power to support. Consider alot of investor going to other counters for better return from opening economy.

Investor will move away from glove and tech to maybe travel and leisure. Counters that's most beat up from covid.

Only left desperate gloves holder that didn't manage to sell.
11/10/2021 5:09 PM

TSLWC support until lembik just to get 3sen up.

C tmr how. If support still hv power to support. Consider alot of investor going to other counters for better return from opening economy.

Investor will move away from glove and tech to maybe travel and leisure. Counters that's most beat up from covid.

Only left desperate gloves holder that didn't manage to sell.

More like every other gloves counter dropped from the drop of cases.

looking forward. nothing interesting in glove.

gonna be boring mundane business like selling eggs and chickens. What would be interesting to see is how TSLWC is gonna keep TG above 20B market cap.

what’s confirmed is high vaccination rate equals low hospitalization rate.’

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FortuneBlooming 'success in achieving high vaccination rate' is not necessarily equal to 'success in achieving low covid infection rate'

then must see first whether reduction is sustainable or not
05/10/2021 1:11 PM

Malaysia's recovery is about 99.8% with vaccination. U give covid abit more time, numbers of death from road accident is gonna be higher than covid annually in Malaysia. That time what? u gonna convert gloves into airbag to save life is it?


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VolatileIsMyGold singapore daily cases could possibly shoot up to 5 digits, if their govt & rakyat still too stubborn & adamant about relentlessly opening up & loosening up without sufficient restrictions & precautionary preventive measures

What's next? Please replace glove with condom too?

Can you atleast agree with increased competition?

Say global annual non covid period requires 300B gloves. 15% increase is 345B gloves. Say China takes 1/3 global demands 100B gloves. That's only left 245B gloves for TG. That's excluding other player.

U deliberate ignored the fact the WHO guideline that discourage public to wear gloves as gloves only protect medical officers/frontliners. For general public, what would be really helpful is reducing surface contamination with good hygience and hand sanitizing. Unless TG came up with a glove that sanitizes a surface upon contact. Yeah, maybe waiters or cashier put on one or two gloves per day.

Cos until now, I have yet to put on a single gloves. Boxes of mask and sanitizers yes. Not a single glove. I don't even put them on when cleaning toilets. =D
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AdCool I disagree with the below statement on lesser demands due to the facts follow:

1. New industries from F&B, Services, Tourism are now using gloves in comparison to minimal back in 2019.

2. Lower demand as compare to a peak of demand in 2020. The trajectory growth of demand is still on a 10-15%. Hence there is no lower demand but higher capacity/production. If you are pointing to supply versus demand, then the estimation is that the supply would meet the demands in 2023 (remain to be seen as the industry can always adjust their production growth. Top glove has reduced their expansion plan in 2022 if you noticed).

3. The world population is ever growing and more countries are moving towards developing status and high income status which would promote medical cares and hygienic. In fact, China usage of gloves are much lower compare to US and EU. Whatever China produce would most probably be consume by China in future.

4. Last but not least, for the past 20 years since listed, Top Glove has not ever delivered any quarterly losses even during challenging time of competition and consolidation back in the early 2000's.

Should Top Glove delivered losses, that would be historical making in the industry. Top Glove might as well sell the biz to China bizman and moved to Tech.

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Let say if margin drops below Precovid, then TG shouldn't be able to sustain it's precovid valuation.
The question now is how bad? U r in denial if u can't even agree that there will be a decline of glove demand postcovid. With increased competition, TG will suffer both reduced revenue and margin. Increased capacity doesn't proportionally equate increase sale.

it's good or bad?

_______________________________
LeeTHX Triangle
04/10/2021 7:29 AM

U estimate is based on on maintained demand of glove and TG didn't lose any of his customer from competition. Under that circumstances, most also we can give TG back it's precovid valuation. Most profit already dispensed into share holder pocket and doesn't belong to TG anymore.

Else, increased production capacity will only drives the price down. There is NO BENEFIT expanding capacity with declining demands.

Unless the strategy is to bleed the competitor to death while bleeding yourself driving ASP below USD22, Then we do expect a red quarter. Which I wouldn't recommend at all. A red quarter, might drop PE down below 20.

Now TG has 3 challenges.
1) Declining demand reducing ASP.
2) Increased competition
3) ESG.

Let say if margin drops below Precovid, then TG shouldn't be able to sustain it's precovid valuation.
The question now is how bad? U r in denial if u can't even agree that there will be a decline of glove demand postcovid. With increased competition, TG will suffer both reduced revenue and margin. Increased capacity doesn't proportionally equate increase sale.

Only thing TG can do facing the headwinds is to increase production without increasing the overhead. But there is nothing TG can do on declining ASP and demand other than making it worse.


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AdCool Your estimation is only when ASP dropped below USD22. The competition will all die by then especially those newcomers. Many of you still think that China is like 20 years ago producing cheap labor. Malaysia labor is cheaper than them. You guys should go and take a look in China and see it for yourself. It's no longer balik Tong Shan. We are the "Tong Shan" and kampung here in Malaysia. The stats by various research houses also showing such trend since 10 years ago taking over Malaysia.

Even at ASP USD22 which was the ASP back in 2018/2019, Gloves were still making profits of around 7-10% and these are the companies that been around for 30 years. Top Glove in moving forward would make around RM800 mil - RM1 bil profit per year due to 25% expansion (by 2023), higher ASP than USD22 (most analysts think it would be above USD28-USD35 in 2023) and best of all, RM60-100 millions additional incomes per quarter due to interest saving and interest gain. It would be 2 -2.5 time more than what Top Glove made during pre Covid era in 2018/2019.

Interest paid in
FY2018 - 36.772 mil
FY2019 - 79.281 mil
FY2020 - 31.45 mil
FY2021 - 3.495 mil

Interest received
FY 2018 - 12.256 mil
FY 2019 - 10.086 mil
FY 2020 - 23.889 mil
FY 2021 - 61.153 mil

The reason it looks so bleak now is because you are comparing it with ASP USD120 and not USD22.

Lai ular, buat kira2 ckit boleh? Analyst s#hai RHB yg cakap TG market cap above RM100B mana? Itu sangat b#llsh#t. Dari RM10 tukar jadi RM1.68 sudah masih mau beda sana sini.

Sgt kasi muka. Itu tikus punya valuation RM1.68 ada la Market cap RM13.7B. Klu profit jatuh RM450M per annum, dan market(tikus) kasi muka PE31, ada RM1.68 with RM13.7B market cap. klu market kasi PE 25 apa jadi?

Klu profit turun RM400M per annum dan market kasi muka. Kasi PE25 je. PE25 X RM400M profit per annum, market cap adalah RM10B. Itu harga RM1.22. That's a very real number.

Klu tak kasi muka, jatuh PE15 on RM400M profit, woah....baru dapat RM6B market cap. Kalau lah TSLWC tak kasi dividend. Semua cash simpan dalam company. Tak mungkin TG market cap below RM20B. Itu silap paling besar TSLWC.

cuba pikir mamat yg invest Feb dan cabut sebelum Dec tahun lepas. Capital gain dapat, dividend dapat. Apa mamat yg join selepas Dec tahun? Dpt habuk, rugi dan sakit hati. Dan mati2 tak mau mengaku silap.

Boleh buta mata, jgn buta hati la sawa.


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UlarSawa Siapa bonggok. Tak tau kira PE ke. Nak Ular ajar ke. Correct?


So far Analist Lowest TP for TG is RM1.68 by Tiger Mafia gang.

Itu Mighty Tikus TP rm450mil per annum profit.

So PE 31 lah.

Nvm, I come back 2022-2023...Check in how Gtrade, Sawa and PowerofGlove.

Remember, it's ok to turn pale. Don't turn blue k? =D

Things got worse. That's why I doubt there will still be RM400M profit per annum 2022 onwards. If TG failed to sustain above certain revenue, it will go deep in the red consider how fast it's margin turn thin.

You do want competition. You do want want competition especially from China.

So, using 2019 profit as reference is very give face already. There are business that for every RM1 generated, lose 10sen for over rapid expansion and high overhead.

People are not talking about projected increase in 2021, people are talking about projected decline in ASP. U still stuck in 2020 is it?

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AdCool Whoever still stuck with RM400 million nett profit must have left behind in 2019 and did not move together with the time to 2021/2022 now. Could be a mental disorder due to long term MCO and stay at home fatigue. Their time is frozen in 2019. They may still tell you their 2019 age if you ask them now.

Market cap jatuh jadi RM10B la bonggok! RM10B kasi bahagi RM400M, dapat tak PE25? Dapat? Dapat? Itu Mighty Tikus kasi PE 31 on RM450 for RM14B market cap ada banyak kasi muka lo.

Lu ingat market cap RM20B selama2 kah? Itu RM10B sudah kasi muka lo. Profit jatuh negative, RM10B market cap punya tak tentu ada bagitau lu.

Just incase u think is impossible. TG drop from 90B market to 20B now. Who values a company with shrinking margin and revenue at RM90B market cap. That's madness.


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UlarSawa Siapa tu analist so panlai kira one. Economist Mighty Tikus TP 450mil per annum pun PE 31 lah. Rm400 boleh dapat PE 25 ke. Pakai otak lah sikit kira. Correct?

Oh sudah renew. Apa harga lu renew? Ada renew banyak? Macam Gtrade. 15% invested. Ada 85% cash lagi. Lu le? Kasi lu renew RM2.5 ada happy? Tak pernah turun sampai RM2.5 pun kasi lu. Tahun depan kami update semula.

Boleh jadi pucat, jgn jadi biru. Still got alot to live for. Not just Topglove. =D

_____________________________________________________________
UlarSawa Ular dah cakap mah. Renewing FD at higher interest Kenapa ramai tak faham apa meaning ke. Another Otak cacing jus ke. Same thing mah Msia kilang kena MCO rumning at 60% capacity forever ke. Fight lah see who win at the end lah. Taikor ada 100b capacity lah. Takut apa. Correct?

Lai sawa, crita ckit brp quarter punya 5 sen dividend baru dpt BREAKEVEN. Jgn cakap untung.
Lu pandai, cuba kira sekejap. Sudah rugi RM2. RM2 bahagi 5sen, brp tahun?

Nampak sgt Sawa bodoh. Bila pulak I cakap RM20B Market Cap with RM400M profit ialah PE 25?

Nampak noktah sebelum PE25. Tapi PE 25 on RM400M forward earnings perannum mmg RM10B. Boleh buta mata. Jangan buta hati. Kalau betul profit drop to RM400M perannum, market cap RM10B pun susah mau tahan.

RSS buat kiraan FPE25 on RM400M per annum profit baru dapat RM10B valuation. Skrg ada RM20B market cap. Ada 50% discount lagi. I tak cakap profit pergi negative lagi ye. Faham si sawa?

That's why I kasi muka FPE 25 on RM400M profit for Market cap RM10B. Still got 50% discount. Silap2 FPE 15 on RM400M profit per annum, u baru dapat valuation RM6B. Sawa punya darah akan habis muntah.

TSLWC should hv kept his RM15-20B profit in company instead of paying dividend. I bet he regrets like hell now.

RM20B valuation at the back of 400M per annum profit. PE25 is only RM10B valuation. RSS knows what they are doing.

People that's supporting is more worried than ppl that's shorting.

Don't forget. On top reducing infection, vaccine role is to reduce severe cases. No severe cases. No hospitalization. No hospitalization, no need gloves. This is known fact. And this the direction.
And booster dose is not a bad news. It's a good news. To further reduce infection and severe symptoms. Look at what vaccine did to TG, u should be scared that more ppl take that booster dose. Instead of 99.9% recovery. It becomes 99.99% recovery.

So, don't talk like vaccine doesn't do anything.

Itu masalah... SG tak sebonggok malaysia. U mau SG cecah 10-20K cases, u perlu Malaysian menteri sebagai SG menteri. Then u get 20-30K. Terbukti already. =D

Lai, u export our former minister there, I buy TG together with you. =D

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UlarSawa Belum 6 bulan lagi after 2 doses lah. Spore now preparing firvthe worst for 5k to 10k cases lah. Ada baca minister comment ke. Hospital bed pun tak cukup nanti la

Sawa kalah sampai jd bonggok. China punya kilang going to tutup forever is it? Most mar postpone ur further bleed by 3 months. Then what? Bleed all the way down to RM1.5 correct? =D

See bila kilang bukak balik. I see if you still have any blood left to bleed. Pucat ok la.
Just don't turn blue only.
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UlarSawa You takda baca Newspaper ke. Sept China power supply cut. Semua kilang kilang pun tutup kedai lah. Ada lagi 29% market share lagi ke. Pakai otak sikit cakap lah. Die die want TG Taikor bankrupt ke. Another JPM and Tiget macai ni. Correct?

Those that can't handle covid and die already died. Those that don't die won't die.
U give COVID 2 more years. It will be treated like common flu la sorzai. So what the numbers are high when the recovery rates 99.9%? With vaccination. It only goes up. U want say they stop mass testing hence active cases dropped is misleading. I can agree with that.

How do you explain drop in death and severe symptoms? These are properly document statistics. Far lower percentage of severe symptoms from positive cases. U got see the world panic over seasonal flu? Most mar higher MC only.

People move on. Getting too hung up in the past won't save u.
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ThePowerOfGlove

but after opening up & loosening up, their daily infection rates surged back up like heck again, you reckon msia is invincible?

Cannot blame RSS.

Opposite of RSS are supporter that artificially support price at unrealistically high valuation with margin. We can only get free market when there is RSS to counter margin facilities. If want ban RSS, then SC need to ban margin also lo.

See, both are 2 sides of the same coin. I like both RSS and Margin. They materialize intrinsic value alot faster. Makes the game whole lot more exciting.

And don't forget, there are tax revenue from high trading activities via broker fee. If u remove RSS and Margin. Hahahhaa. Bursa Malaysia can close shop liao. i3Investor also can close shop liao. No ppl come BS anymore.