2 more days to go. As expected, wont have much movement and cant uptrend.

Net short position as of 8th May: 84,031,170

Meaning these shorts still havent been closed.

113 TOPGLOV TOP GLOVE CORPORATION BHD 2,036,450 2,110,000 1,332,340 1,388,500 0 0 0 0 3,368,790 3,498,500
Shorting data on 8th May 2023. Total short volumes: 3,498,500 value at RM3,368,790.

Top Glove trading on 8th May 2023 was between 0.935 - 1.

Shorties kena burn kaw kaw today. At first they were happy seeing Harta 302 million losses. Mana tau hidden is the impairment 347 million. So Harta is indirectly telling u, hey I profited 45 millions but i just dont want to show to you that clearly.

Making losses due to impairment. Biz is making money back. The market is expecting it not to make money from the biz due to poor ASP and poor market demand. That's y the uptrend since it beats the expectation. Now IBs gonna change storyline with this newest development from Harta

xuxu

AdCool

Baca itu QR results baik baik. Then u will the logic.

Improved bua scrutinize the results and t still making loss lah

Baca itu QR results baik baik. Then u will the logic.


xuxu

result buruk naik lagi, glove tak logic

Harta up 7%. all the shorties suddenly mati.

These 4 days cant expect much uptrend. One call warrants expiring on 12th May. The warrants issuer would not let GenM to move up. Just need to wait for next week onward. Expect it to be stagnant or range bound.

If you don't see any significant increase in glove counters, don't expect significant drop of tourism related counters. There s no more panic on COVID. Visitors would just wear masks and go casino.

covid cases sharply on the rise. Reported today that govt looking to impose mask mandate again. Price may drop next week once news take hold.

5% dividend shares in hand.

Warrants is being accumulated. There could be reason behind. Watch this space.

now the question is when GenM gonna reverse back such impairment.

@dragon328, the legal suit finally been settled after multiple rounds of court cases. It finalize in Feb that the land is indeed legal for the tribe to develop though now may have those smaller suits from the surrounding residents opposing the idea of casino and resort development. The main suits on the land validity have been won.

@dragon328, the impairment reversal is for below impairment in 2018.

GentingM said on Friday it recorded an impairment loss of RM1. 834bil in relation to the group's total investment (including accrued interest) in the promissory notes issued by the Mashpee Wampanoag tribe.

On behalf of the Board, M&A Securities Sdn Bhd wishes to announce that a waiver application to Bursa Securities seeking its approval for a waiver to submit a regularisation plan and an upliftment of Seacera’s PN 17 status had been submitted on 20 April 2023. The Company will make the necessary announcements in due course if there are further developments in relation to the said application.

This announcement is dated 20 April 2023.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3346219

Refer to below announcement which many have missed:

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3333714

Potential reversal of impairment in Q1 or Q2 results. Additional 1.6-1.8 billions impairment reversal.

such approach wont last long as no biz is crazy enough to lose money continuously. They are squeezing out the new players and small players which was quite successful for the past 2 years. Look at Mah Sing, look at Careplus, look at AT. They all are out from the market and ditching the gloves biz. There are many others small and new players in China too which facing same predicament.

piotrn

looking at results of INTCO , BLU Sail also burning money - bit they still keep prices much lower than malaysians - it is obvious that they want to squeeze malaysians out of cash . Looks like TG will need to look for funding very sooon

Supermax has the tendency to declare share dividends all this while. With 4.6% treasury shares now, it can easily declare a 4% share dividend.

Just need to be patient and wait for Melaka Gov to comment on the debts and work on a plan to repay it. RM50 mil to the gov is nothing and can be settled if they want to. The question is whether they want to do it or risking 3000 students losing their accommodation at Universiti Melaka

All debts repaid to Ambank. Possibly PN17 status would be uplifted in mid May upon Bursa approval.

wont move until tomorrow (one warrant expiring tomorrow at 2.55) and mostly would blocked around 2.90 until it get released by warrants issuers expiring on 12th May. GenM wont fly so fast and still have time to accumulate

First great news announced...second great news is reversal of impairments. 3rd good news is the Q1 results with profits. 4th good news is the potential bidding of casino and integrated resort in Sarawak.

Possible to have impairment reversal gain in coming quarter results or Q2 results. This has been a long overdue legal process in US since 2017. Dont be surprise if suddenly GenM reported RM1.8 billions additional profit in the coming quarters due to this.

good that her daughter resigned.
been causing lot of losses due to that contact lens biz since 7 years ago. Keep burning the money.

Pending 2.5 sen dividends approval in AGM. Possibly additional 3-4 sen dividends after quarter results announcement in end May. Next, nothing much to look forward but BAU.

someone is still blocking this counter for whatever reason known to them.

GenM still not moving though the tourism recovery is solid now and the possibility of USD1 billion profit from disposing the Miami asset. Market seems to undervalue GenM at the moment while overvalue counters such as AAX.

Retailers wont believe when Top Glove dropped from RM9++ to RM0.6 within 2 years time. Now, similarly retailers wont believe it when Top Glove rebound from RM0.6 to RM4+ within the next 12 months.

Retailers wont believe when Top Glove dropped from RM9++ to RM0.6 within 2 years time. Now, similarly retailers wont believe it when Top Glove rebound from RM0.6 to RM4+ within the next 12 months.

Still pending the decision whether to sell off the asset in Miami. That's the killer profit.

Remember that Seacera, Anzo, AT, Fintec, Mlab are all abang adik. Anzo has been delisted in March. All the big projects announced by Seacera for the past few years, not a single one get realized until today.

be careful. possibly last bull trap before seacera going to get suspended and delisted by May 2023.

New Melaka gov taking over and need to wait and see if the new gov gonna bail out the UNIMAL or risk kicking out 7000 students without accommodation. You do the calculation and decide.

Good bye Anzo.

4 more trading days to reach deadline 13th March to appoint a principal adviser for the regularization plan.

last one hour of trading. For those who left, goodbye and best wishes for other stocks. For those who remain, either we fly or sink together come March 13th. All the best and good luck!

results should be out today and should incorporate the numbers from the newly acquired Evermix. Should expect higher revenue.

Expecting another dividend soon after release of quarter results in Feb.

You are right that the 3 bosses of Evermix already pocketed RM65 mil cash.

Not 11 mil shares but RM11 mil value of Esceramic shares issued at RM0.32. If Evermix going to make losses in these two years, then Esceramic would not issue a single share to the Evermix bosses. If Evermix only deliver RM5mil profits in the next two years, then the bosses only get issued RM5million value of shares and not RM11 million. If Evermix delivered more than RM11 million profit, the bosses still get a max of RM11 million value of shares. You can read the SPA for more details.

Evermix biz guaranteed RM11 mil profit in two financial year. If they cant deliver the profit, shares issuance for the owners of Evermix would be reduced accordingly. The purchase was funded via 65 mil cash and 18 mil value of Esceramic shares issuance valued at 0.32 per share. 7 mil value of shares have already been allocated after the completion of the SPA. Remaining 11 mil would depends on this profit guarantee.

waiting for more drama. The revenge of the Ng bro. I dont think they would let go without a good fight with Eddie Ng.

@cumcumshot as per the bursa rule, once the company submitted the application for extension, the company share would not be delisted until Bursa made its decision. For this round, it's out of the norm that Bursa has delayed in its decision.

Thanks Calvin for clarifying the forest replanting expenses.

Anyone can comment why got such loss under forest replanting? Without this fair loss, the actual profit is RM68.5 mil, excluding the land disposal gain.

"mainly due to fair value loss on forest planting expenditure of RM34.5 million under the 'Others' segment."

Boss masih main main below 1.10 to get more cheap shares.

Shorties would made the same mistakes as what the retailers did in 2021 whereby no one would ever believe Top Gloves could even down below rm1. Now similarly shorties wont believe Top Glove could rebound above RM1 by end 2022 and subsequent RM2 and RM3 in 2023.

When gloves made the best results from Dec 2020 to June 2021, gloves were already in downtrend. Now gloves are making the worst results from June 2022 to Dec 2022, gloves would reverse in uptrend. That's how it works. Those who refuse to buy in or close their short position, would be wiped off in these few months. Just wait and see.

Today is the last day to submit RP to Bursa or else wait to get delisted by Bursa.