Side note, for those interested to hear different perspective, check out FIRL Guys on YouTube, they've made a video on glove sector recently and the info coverage is pretty good.

Educated myself more on the China Taiwan tension, bang_miskin is probably right. US sent 5 more congress members to Taiwan and China responded with more drills. I think China is focusing on their property debt issue more now than actually getting Taiwan. Nevertheless, I personally don't think China will last long in throwing glove price down, let's see.

@Raymond look at where TG's cash reserve gone, share buy back at high price.

100mil units changed hands in the morning but no 10% drop. We may have found the floor (or at least very close to it). Either EPF stopped dumping or the 1.6 range is the first solid support.

LOL khatu, please stop. Let people talk normally.

@Cerubic, I share the same sentiment as bang_miskin, we have been whacked so many times that we really question where is the bottom. Every calculations and past trends can be thrown out of the window, it just doesnt make sense for Harta to be trading at this price with the latest financials that were just announced coupled with how the company has been run successfully in the past.

We're trading at ~16PE and merely 20sens above NAPS. Soon it will be cheaper to just close shop and realise the NAPS rather than continue business. Yeah, we may have seen one of the lowest EPS in 10 years, but to judge that the company will die and whack down the share price, that is just absurd.

If Harta is going to use SBB to acquire the remaining 200mil units from EPF, then I hope the share reaches RM1 or lower for the time being to reduce the sbb cost. I don't mind suffering a bit more short term for a better long term result.

EPF has another 220m units to throw as per today's disclosure. They cease being shareholder when they hold below 170m units, guess they are still holding above 170m units. Wonder how many they sold on 12, 15, and 16 Aug.

@bang_miskin
"Decided against it since I don't get back much anyway"
Pretty much why I'm still holding as of now. Will most likely trim if Harta ever rebound to RM3 though, been averaging down to not suffer as big of a % loss.

"6 months ago, I thought RM4.30 was the bottom. Just two weeks ago, I don't think it is possible that it will breached below RM2."
LOL, we thought so, ahh that was already so far away. Nothing makes sense right now, but looking from another perspective, sense depends on what we know. Maybe we know too little. It is all a gamble anyway. Just dont gamble with money you cant lose.

@GlovesOff, never say you cannot comment. Using back your example, what does that make you? Someone that comment poorly about anothers' wife in front of them to test if their love is unwavering?

LOL bang_miskin, long term investors in glove counter looks like gambler now xD

110million units today... my god

Based on last few days' trend, major dumping in the morning and then walling in the afternoon to prevent rebound. Let's see. Gain/loss out of the picture (makes no sense for me to sell now - cant do much with amount recovered), intrigued to see where this goes. Live and learn.

Yeah I wouldn't rely on "tomorrow", it has been a baddd few days. Announcement for 10 August just out, EPF only sold 5.1mil units out of the 32mil units traded. They still have plenty of chips to throw, question is, how low are they willing to go? Selling each share at below NAPS?

@Cerubic too bad they do not have virtual meeting that I can multitask listen to. Let me know if they share anything interesting & new.

32mil, 23mil, and then 48mil shares traded on 10, 11, and 12 August respectively. For each share sold, there was a buyer. Another 27mil units changed hands this morning, how long will this insanity last?

Wow no sharp rebound even at below RM2, can't say I'm not surprised at the slightest. If EPF is the one doing this, why not negotiate a deal with another institutional investor behind the scenes? Dumping shares in the open markets in the millions (units) for multiple days, that's crazy. We'll see if it is really EPF when the announcement comes next week.

Relax Cerubic, nothing we can change by commenting much here. Just share your opinion and walk away if no one wants to engage in a constructive conversation. If a random stranger wants to rely on i3 comments for their investment decision, well they have a hard lesson to learn anyway. That's what I've learnt from hanging around in this forum.

@charles average price @4.5, so it's about 50% now when only looking solely at capital. But after taking into account the huge dividend payouts in 2021, i think its less than that, lazy to quantify exactly.

Dropping another 50% means lower than NTA. Unless we're suspecting fraudulent reporting, i don't think that we have any indication about that...

There was windfall tax, just unlikely to have another round this year given that there's no more "windfall" for glove sector this year. Some people are just a bit slow on the brain.

There's no windfall tax if there's insufficient profit to be taxed, unless the government literally wants to kill these companies.

Observatory's comment on long term investors are quite true, maybe one should review their positions if you dont fit the description.

Also on the supply-demand equilibrium, I'm pretty confident some form of decommissioning would happen with so many new companies rushing in during the glove mania. I guess we shall see.

My view is that this stock is a hold right now. Advising to buy/sell is pretty tricky. Unless ofcourse, if you have better investment that you're confident can get you money in the shorter term, by all means, sell and buy that. I've caught the 2.5 train this time around and will be holding till better days.

Odd belated dumping, foreign/institutional investors?

Im doubtful of a much worse quarterly, happy with this quarter. Let's see.

Looking at the bright side, first time I'm seeing no red after QR in a long while. Assuming results are within expectations now instead of under-performing.

Great observations by observatory, as usual.

RM88mil is after tax, ofcourse people compare to profit after cukai makmur la. Pakai la otak and mata bila baca. If you want to compare PBT, it was a drop from 218mil (22% margin) to 134mil (15% margin).

It looks negative when you zoom in and do analysis on just 2 quarters. But bearing covid in mind, it is pleasant to see that while our lives have gone back to normal, Harta is still making more than pre-covid. Just zoom out and look at August 2019, you will notice there is an increased in revenue and profit despite lower profit margin. Management has communicated about the falling margin and we can only hope that this stabilises over the next few quarters.

I don't see major negatives based on my own reading and comments here so far. Feel free to enlighten me if you have different views.

Previous quarterly results announced in 10 May, not even 3 full months has passed, yet someone said "missed dateline" and concluded that it is going to holland with results announcement only coming end of month. I guess this is how false rumor start to spread.

I'm also cautiously optimistic to see some profits, would need extra explanations from management if there are losses. QR should come before end of the week, whether today or not, nobody knows. DYOR, be responsible for your own money/investment, you dont know which strangers online holds stocks or don't. Trolls everywhere.

Annual report excerpts:
"...However, ongoing headwinds look to remain for the short to mid term. Prevailing external risks within the current environment which could have a bearing on business resilience and prospects include the Russia-Ukraine war and recent lockdowns of major cities in China arising from a spike in COVID-19 cases, which have caused further strain on global supply chains and led to higher commodity and raw material prices.

The Group is also contending with the risk of increased operating cost, as the overall operating cost environment faces rising inflation, higher electricity and natural gas tariffs, coupled with the new minimum wage policy in Malaysia which came into effect on 1 May 2022. Compounding this, the Group is seeing escalating market competition exacerbated by the continued oversupply situation in the global glove industry. The normalisation of the pandemic has also led to the current unfavourable supply and demand dynamics.

Nevertheless, Hartalega remains focused on overcoming the headwinds facing the industry. We have experienced various downcycles since our establishment more than 30 years ago and braved our fair share of storms. Moving forward, the Group will continue to strengthen our fundamentals by improving efficiencies and reducing wastage. In line with our drive to ensure business resilience, we will also scale up our automation as well as digitalisation initiatives.

We have the resilience, skill set and spirit of innovation to propel the Group forward. While ASP will continue to be a risk factor, there are bright spots such as the reopening of international borders, which is expected to relieve the current labour shortage. The uptick in global healthcare awareness in the post-pandemic era also bodes well for the Group, particularly in emerging markets where glove usage per capita is set to grow.

Building on our proven track record, we continue to take a future-focused approach. Our healthy balance sheet provides us with a sizeable war chest to drive the growth of the Group over the long term..."

Go ahead to read the annual report yourself if you're interested to read further. You can call me a sheep, but I trust the management so far.

Is there no way to get Khatulistiwa permanently banned... back after 3 weeks

Shouting for Harta to go below RM1 since Harta was RM5, and then shout at DNex saying RM4 - 6 is not a dream. Natsuko is a joker, not investor.

I see Karma is hitting back at you like at DNeX Natsuko, enjoy :)

LOL Natsuko, I don't predict share price because I'm not bomoh with 2 coconut.

Hmm, just 10% NP? I'm hoping for similar or better results than the Dec 2021 quarter. ASP more or less bottomed out + no more cukai makmur. But this is pure guessing, we shall see.

Next QR is near, should be before 3rd week of August. Hoping to see better pbt than previous few quarters.

Hmm, 9 million units moved hands considered low volume for Harta? Hodl.

LOL Natsuko, it's either you're advising every counter to sell, or our investment taste is exactly opposite.

LOL wtf EPF bought so much on 29 June, EPF be swing trading.

Swing like a yo yo, stay cautious trading this counter.

LOL at people still trying to predict the future. Come on guys.

EPF continue to throw at every rebound I guess, these announcement are lagging behind. Wait and see, invest responsibly if you are planning to top up. Catching the bottom will be tough.

Mark my word LOL. How soon is soon? Need something specific to see back.

LOL khatulistiwa is like the same but opposite of Natsuko.

Well I guess we can't be running around calling glove stocks a safe bet any more with all the challenges Malaysian glove producers are facing. Can only hope that the increased risk has an increase potential reward (which the potential reward is definitely much more at the current pricing as compared to a few months back), but high risk high return is not for everyone.

God damn EPF is really net selling now, major dump on every rebound in the past weeks.

Thanks @ccpool for this:
"Go take a break. Away from the price action and plan how you can position yourself in this bear market and DCA at significant support level rather than " i think its the bottom, i will top up here". only to see it go down further."

The last part is important.

@Mini2021 Natsuko will ask you to go buy DNeX. DNeX is going to the moon according to them.

Sad to hear that Anxious, hope you have a better place for the amount recovered and it gives you healthy gains. For me, no time to research other investment and rebuild the faith, so I HODL.

Hang in there Cerubic. I'm a little concern that haven't seen Anxious in awhile. Sh!t happens, we shall definitely celebrate together when things are back to normal. I promise to message you before I sell, if I ever decide to sell.

Yeah, rate hike & inflation will definitely impact many companies. That's why harta's strong balance sheet and good cash flow gives it premium over other glove counters. I'm very afraid as well to look at harta's future QR, if it follows suit with TG, then it will be very concerning. I'm hoping the previous QR's profit can be sustained, if not better.