PETALING JAYA: The US Customs and Border Protection (CBP) has directed personnel at all US ports of entry to begin seizing disposable gloves produced by Top Glove Corporation Bhd.

The CBP action comes after a statement earlier that it has found “sufficient information” to believe that the glove manufacturer uses forced labour in the production of disposable gloves in Malaysia.

“Today’s forced labour finding is the result of a months-long CBP investigation aimed at preventing goods made by modern slavery from entering US commerce,” said Troy Miller, senior official performing the duties of the CBP commissioner.

“CBP will not tolerate foreign companies’ exploitation of vulnerable workers to sell cheap, unethically-made goods to American consumers.”

Meanwhile, CBP said the recent findings expanded upon a withhold release order (WRO) that CBP issued in July 2020.

PETALING JAYA: The US Customs and Border Protection (CBP) has directed personnel at all US ports of entry to begin seizing disposable gloves produced by Top Glove Corporation Bhd.

The CBP action comes after a statement earlier that it has found “sufficient information” to believe that the glove manufacturer uses forced labour in the production of disposable gloves in Malaysia.

“Today’s forced labour finding is the result of a months-long CBP investigation aimed at preventing goods made by modern slavery from entering US commerce,” said Troy Miller, senior official performing the duties of the CBP commissioner.

“CBP will not tolerate foreign companies’ exploitation of vulnerable workers to sell cheap, unethically-made goods to American consumers.”

Meanwhile, CBP said the recent findings expanded upon a withhold release order (WRO) that CBP issued in July 2020.

Downtrend continues and EPS will not as high as 50sen

Just prepare for more share price volatility and those retailers buying penthouse prices 6+,7+,8+,9+ really upset and frustrated since end of last year

Supermax coming quarter PAT will not reach RM1.5 billions but still higher than previous quarter PAT RM1.08 billions

IPOH: Rubber glove manufacturer Top Glove Sdn Bhd was charged at the Sessions Court here, today with 10 counts of failing to provide workers' accommodations certified by the Labour Department (JTK), last November.

The company, which was represented by its director, pleaded not guilty to all charges before Judge Norashima Khalid.

According to the charges, the company was alleged to have provided their foreign workers with accommodations that were not certified with a Certificate of Accommodation from the JTK director-general, as required under Section 24D(1) of the Workers' Minimum Standards of Housing and Amenities Act 1990.

The offences were allegedly committed at 10 different accommodations at Pusat Perdagangan Tasek Mutiara here, between 9 am and 1.30 pm on Nov 26, last year.

the export revenue estimate had also taken account the fall in ASPs as market observers expect demand to normalise as countries have kick-started their vaccination programme.
The manufacturers’ lead time to meet orders is shorter at seven months currently, compared with 10 to 12 months in the first and second quarter last year.

KUALA LUMPUR (March 15): Malaysia's export revenue is expected to grow at a slower pace of 8% to RM38 billion in 2021, compared with a 103% growth last year, said the Malaysian Rubber Glove Manufacturers Association (MARGMA), taking into account shorter lead time and lower average selling prices (ASPs).

KUALA LUMPUR (March 15): Malaysia's export revenue is expected to grow at a slower pace of 8% to RM38 billion in 2021, compared with a 103% growth last year, said the Malaysian Rubber Glove Manufacturers Association (MARGMA), taking into account shorter lead time and lower average selling prices (ASPs).

Supermax shareholders in a dilemma - Koon Yew Yin
Author: Koon Yew Yin Date: Sun, 14 Mar 2021, 12:59 PM

My opinion:

I am ashamed to admit that I delayed in selling my holdings because I believed the good profit of Supermax will prevail eventually. The longer I delay in selling, I will lose more money.

On hindsight, I should have sold all my holdings earlier. Finally, I sold all my holdings a few weeks ago and I used all my sale proceeds to buy KPS and Dominant which shot to limit up.

I learned a very expensive lesson. I must believe in the price chart. What is a price chart?

It is a record of the daily price movement of a stock. If there are more buyers than sellers the share price will go up. In the case of Supermax there are more sellers than buyers in the last 5 months. As a result, the chart is showing a down trend in the last 5months.

This can only mean that there are more investors who believe the share price will not go up again because the demand for gloves is reducing due the reduction of new Covid 19 cases. Moreover, all the glove manufacturers have been expanding their production capacities and there are more new manufacturers.

WASHINGTON: Health workers in the United States have administered more than 100 million Covid-19 vaccine doses, an official tracker showed on Friday, around 30 per cent of the world's total of shots in arms so far.

A total of 101,128,005 shots have been administered, according to the latest tally posted on Friday afternoon by the Centers for Disease Control and Prevention.

U.S. Covid-19 Hospitalizations Down About 70% From January Peak.
Newly reported coronavirus cases in the U.S. continued to decline, along with hospitalizations, as more people in the country received vaccinations.

To all glove followers you all can join telegram glove union malaysia more than 10k participants very good for sharing information

Supermax is bleeding heavily compares to Top Glove and Hartalega.Giving peanuts dividend to shareholders.Most investors holding glove stocks switching their funds to Top Glove for generous dividend payouts to shareholders

Be prepared for continuous downtrend as ASP price has started to come down.Many retailers living in penthouse prices 5+,6+,8+,9+ while institutional funds and IBs keep selling down glove stocks since end of last year

Pfizer Inc and BioNTech said on Wednesday that real-world data from Israel suggests their coronavirus vaccine is 94 per cent effective in preventing asymptomatic infections, meaning it could significantly reduce transmission.

The companies also said the latest analysis of the Israeli data shows the vaccine was 97 per cent effective in preventing symptomatic disease, severe disease and death. That is basically in line with the 95 per cent efficacy Pfizer and BioNTech reported from the vaccine's late-stage clinical trial in December.

TA is more important than FA - Koon Yew Yin
Author: Koon Yew Yin | Publish date: Wed, 3 Mar 2021, 9:39 AM
I am ashamed to admit that I learned my most expensive lesson which is TA is more important than FA.

As an alert investor, I started to buy Supermax when the demand for medical gloves exceeded supply due to Covid 19 pandemic. But I was wrong in believing that Supermax’s excellent profit growth rate will prevail eventually. When is eventually?

If I believed in price chart, I would have sold as soon as the price started to drop and made a lot more money.

Fortunately, I sold all my Supermax about 3 weeks ago instead of buying more at cheaper prices to average down.

WHO predicted that the Covid 19 pandemic will be under control next year due to massive vaccination, wide spread testing, wearing face masks, practice social distancing and washing hands.

Based on the announcement by WHO, investors will continue to sell their glove stocks and their share prices will continue to drop.

Readers must ignore all my previous buy recommendations for Supermax.

Gloves delivery lead time has reduced and spot order price also drop

Going to test RM4.50 support level as always IBs and local institutions selling down glove stocks

The FDA’s emergency use authorization Saturday kickstarts the federal government’s plan to distribute nearly 4 million doses of J&J’s vaccine to states, pharmacies and community health centers across the nation next week. Unlike Pfizer’s and Moderna’s vaccines, J&J’s one-dose regimen eliminates the need for patients to return for a second dose and it can be stored at refrigerator temperatures for months.

J&J’s vaccine “makes it operationally easier in lots of contexts,” Dr. Nancy Messonnier, director of the CDC’s National Center for Immunization and Respiratory Diseases, told the Journal of the American Medical Association during a Q&A event on Friday. “I expect lots of considerations state health departments are having around these vaccines is more about the ease of use of the J&J vaccine and how it might be better suited for some populations.”

The FDA’s emergency use authorization Saturday kickstarts the federal government’s plan to distribute nearly 4 million doses of J&J’s vaccine to states, pharmacies and community health centers across the nation next week. Unlike Pfizer’s and Moderna’s vaccines, J&J’s one-dose regimen eliminates the need for patients to return for a second dose and it can be stored at refrigerator temperatures for months.

J&J’s vaccine “makes it operationally easier in lots of contexts,” Dr. Nancy Messonnier, director of the CDC’s National Center for Immunization and Respiratory Diseases, told the Journal of the American Medical Association during a Q&A event on Friday. “I expect lots of considerations state health departments are having around these vaccines is more about the ease of use of the J&J vaccine and how it might be better suited for some populations.”

President Joe Biden released a statement after the announcement, calling the decision "exciting news for all Americans, and an encouraging development in our efforts to bring an end to the crisis."

Doses are expected to begin shipping Monday, starting with about 4 million of them. Johnson & Johnson, which developed the vaccine in partnership with Janssen Pharmaceuticals, said that 20 million doses will be available by the end of March.

President Joe Biden released a statement after the announcement, calling the decision "exciting news for all Americans, and an encouraging development in our efforts to bring an end to the crisis."

Doses are expected to begin shipping Monday, starting with about 4 million of them. Johnson & Johnson, which developed the vaccine in partnership with Janssen Pharmaceuticals, said that 20 million doses will be available by the end of March.

The Food and Drug Administration granted emergency use authorization to Johnson & Johnson's Covid-19 vaccine on Saturday, adding a third vaccine to the U.S. arsenal to fight the pandemic.

“The authorization of this vaccine expands the availability of vaccines, the best medical prevention method for COVID-19, to help us in the fight against this pandemic, which has claimed over half a million lives in the United States,” said Acting FDA Commissioner Dr. Janet Woodcock, in a statement.

The Food and Drug Administration granted emergency use authorization to Johnson & Johnson's Covid-19 vaccine on Saturday, adding a third vaccine to the U.S. arsenal to fight the pandemic.

“The authorization of this vaccine expands the availability of vaccines, the best medical prevention method for COVID-19, to help us in the fight against this pandemic, which has claimed over half a million lives in the United States,” said Acting FDA Commissioner Dr. Janet Woodcock, in a statement.

IBs giving high TP but they slowly selling down gloves shares and switch to recovery stocks

KUALA LUMPUR: Malaysia's first batch of the CoronaVac Covid-19 vaccine arrived at the Kuala Lumpur International Airport (KLIA) at around 9am today.

The 200-litre bulk consignment meant to be processed into 300,000 vaccine doses was flown in by MASKargo, operated by Malaysia Airlines Flight MH319, from vaccine developer Sinovac Life Sciences Co Ltd's Beijing plant.

KUALA LUMPUR: Malaysia's first batch of the CoronaVac Covid-19 vaccine arrived at the Kuala Lumpur International Airport (KLIA) at around 9am today.

The 200-litre bulk consignment meant to be processed into 300,000 vaccine doses was flown in by MASKargo, operated by Malaysia Airlines Flight MH319, from vaccine developer Sinovac Life Sciences Co Ltd's Beijing plant.

Top Glove plans to issue 1.495 billions new shares in Hong Kong stock exchange to raise up to RM7.77 billions equivalent to IPO price of RM5.20 per Top Glove

Top Glove plans to issue 1.495 billions new shares in Hong Kong stock exchange to raise up to RM7.77 billions equivalent to IPO price of RM5.20 per Top Glove share

KEY POINTS
A key Food and Drug Administration advisory panel on Friday backed Johnson & Johnson’s single-shot coronavirus vaccine for emergency use.
The nonbinding decision by the FDA’s Vaccines and Related Biological Products Advisory Committee comes as the Biden administration works to ramp up the supply of vaccine doses and get Americans vaccinated as quickly as possible.

Top Glove plans to issue 1.495billions shares in Hong Kong stock exchange to raise RM7.77billions equivalent to IPO price of RM5.20 per share.

Next Monday vaccine news again to push down gloves shares as third vaccine Johnson&Johnson will be approved for emergency use in US as early as tomorrow (Saturday)

TA is more important than FA - Koon Yew Yin
Investors must remember that price chart takes preference over fundamtal analysis. You must sell as soon as the price chart is showing a down trend. Never buy a down trending stock even if its fundamental quality is excellent.

I learned a very expensive lesson. On hindsight, if I started to sell as soon as the price start to drop, I would have made a lot of money.

Beside Supermax all the share prices of the other glove stocks are also dropping.

New low price 4.95!!!!!

GlovesHero Time to cut loss, buy back at RM4.

What is your buying price?

RHBIB7 Fxxking IBs coming again as usual

Too much selling pressure by IBs,foreign funds and retailers

Will test yesterday lowest price 4.96

RM5 support level not strong adn will be broken!!!

Dannyfyl88 All in... this will recover back to 8 soon... Totally shorted and oversold.

All in ??? Cheaper price later....

Profit taking dead cat bounce and next support 5.05/5.00

The one-shot coronavirus vaccine made by Johnson & Johnson provides strong protection against severe disease and death from Covid-19, and may reduce the spread of the virus by vaccinated people, according to new analyses posted online by the Food and Drug Administration on Wednesday.

The vaccine also showed 86 percent efficacy against severe forms of Covid-19 in the United States, and 82 percent against severe disease in South Africa. That means that a vaccinated person has a far lower risk of being hospitalized or dying from Covid-19.

The analyses confirmed that Americans are likely to benefit soon from a third effective coronavirus vaccine developed in under a year, as demand for inoculations greatly outstrips supply. The F.D.A. could authorize the vaccine as early as Saturday.

Dow jumps 420 points to a record close in another intraday reversal, recovery plays lead rally.

The stock market staged another big intraday comeback on Wednesday as investors continued to pile into names sensitive to an economic comeback, while looking past the risk of inflation and rising interest rates.

Dow Jones Industrial Average wiped out a 110-point loss and climbed 424.51 points, or 1.4%, to a record closing high of 31,961.86, powered by strong performance in energy, industrials and financials. Boeing jumped 8.1%, while Chevron climbed 3.7%. Goldman Sachs and Visa both rose more than 3%

Heavy selling down by RSS IBs,institutional funds and retail investors.Next support RM5 price level

Gloves stocks selling off by investment banks,foreign funds and retail investors will continue with RSS participation by IBs almost daily

IDSS extended will not impact glove sector downtrend.Ony RSS suspension will help to push up glove sectors

IDSS needs to buy back shares before 4p.m same day unlike RSS no time limit to buy back shares

Need to reduce your gloves holdings and invest other counters.Now the trend is not with gloves sectors

Since QR release end January RM7+ drops until now RM5.50+ average down also useless better put cash into recovery stocks for decent profits

Share price downtrend since QR release as fund managers and retail investors switching to recovery stocks.Short selling and call warrants expired this coming Friday will further depress the share price