Prices remained low because we're still not sure (1) when oversupply problem will resolve and (2) whether we can remained competitive wrt Chinese and SE Asian producers. Better see some solid uptrend and improving ASP before putting more money in this counter.

Reminds me a bit about Genting in late 2020. I remembered price at one point dipped below RM3, I bought some months ago when it dives below RM3.7X, thinking that it was undervalued. But many investors dare not invest because prices are trending downwards. Then news of vaccines emerges and price shot back up.

Gotta agree with @newbie8080 here. It is unlikely we'll see a repeat for 2020 in 2023. Gloves companies are dealing with oversupply issue, not the other way round.
On the other hand 2022 is an interesting year for China. From strict adherence of "zero-covid" policy to a sudden "f*** it, let-it-rip" policy, I don't think many would consider it as a prudent healthcare measure. Glove shortage is the least of their concern. Can't even get panadol/ibuprofen two weeks ago when cases are exploding left and right.

@nuilam hali Ya kah? Based on the recent quarterly reports, very unlikely to reach RM5 in three months. In 3 months can maintain above RM2 I already happy. Unless we see an rise in ASP or an end to oversupply problem, prices are going to move sideways. Just my 2 sen.

@CharlesT A fair point. Will prices in 2023 dropped by another 50-60%? We will know by the end of this year.

Happy New Year guys!
Lot's of news about speculation about China's U-turn decision on the glove market. I am sceptical that it will have a lasting effect on the ASP. With the oversupply problem persisting, 2023 is not a good year for the glove market. But since prices are close to the bottom, you can buy and keep if you don't mind holding for another year, two or three. Buy low, sell high... you get the gist, lol!

When price reached bottom and the Japanese troll keep talking non-stop it is time for price to rebound. Hahaha!
Don't worry @samerkl price fluctuates. Maybe in near future price might dip back to the RM1.5X range. Aren't you preparing to take some profit soon?

At 1.73 even if you average down now, it's not going to do much to current price.

1.73 is a decent price (mine is 2.6, lol!). Just keep an eye on this counter, occasionally there is some news that drive price upwards, sometimes close to 1.80 to 2.00. It is more often than you think. You know what to do then.

Topglove QR is a good predictor of things to come for Harta and Kossan. While there's some room for price to fall, it should be near the bottom since we already expect the QR to be bad. I made a mistake of not selling it all around RM2.00 to buy it back cheaper, I'm a noob, lol!

^The results are pretty painful. Would be a miracle if Harta can remain green.

No rush lah still downtrending. If continue like this, may reached 1.4X by end of this week.

Welcome new investors to become our latest long-term holders.

China currently bracing for the first wave of Omicron. Lots of infection in many areas/cities, but most numbers are not officially reported. May take at least 3 months for the wave to subside. Currently Chinese are not allowed to travel freely, except for specific purposes (e.g. business, education, visiting relatives). Have to wait for policy to loosen up, maybe next year?

huh did not expect MPI to breach 30...lol, at least still holding some....

I am still holding some. Even though prices are trending downward, I think we may reached the bottom pretty soon. Still there's no rush to buy now since many predict 2023 to be a challenging year for the glove sector. At least wait for price to trend up, or when profits starts to increase.

Again this is not a buy or sell call, just my 2 sen observation

@YourQuirkyWays29. Hey there... no I took some profit @RM4.2X Did not anticipate that it will continue to climb this much...oh well... :P
I have minimal holding in tech stocks. At least MPI is doing quite well...

Seems like a decent company. I personally would accumulate more if I got the extra cash.

Imagine locking down entire cities, the entire nation just because of a flu epidemic. It makes sense to lock down the first one (5% mortality rate, higher for those with comorbidity). Locking down because of Omicron BA versi 5 makes them looks silly. But hey, it's their choice (or more accurately, it's His choice).

Justifying zero-covid just because the old people refuse to take vaccine is a pretty weak argument. They can force people in their apartments for months, sometimes without food or medicine. They can require people to take a PCR test every day or two just to go to work or to buy groceries. But they can't 'persuade' old people to take their jab for their own good? Very interesting. Like I said, their choice.

Dammit, should've sold some arak counters before GE15....

@ahbah while our nation's economy is pretty screwed and we will remained stuck in a middle income trap for the foreseeable future, I don't think any of the three parties will make drastic change to the country's economy...too much political booby traps. But as a nons, it's quite obvious who I'm gonna vote. I don't like having my name changed to Abdullah bin Wong if you know what I mean :)

@TreeTopView I don't think any of the three main party would move towards a freer and cut subsidies. Like you mentioned, there's too much politics at stake. A move towards a freer market may be good for bursa, but politically it's a suicide. just like ketuanan melayu, cannot touch wan.

On the other hand, as a nons and a die-hard liberal, I am worried about the direction of the country under BN/PAS. It's obvious who I'm gonna vote (I think I know how many here would vote too...just a hunch). Like you said, PH is an unknown beast, but it is an alternative to the current direction we're heading. To change we just have to take chances. Even if PH doesn't win, a strong opposition means that BN/PAS can't do as they please.

I am still pissed with PAS tanking my beer counter years ago, lol!

Remember to go out and vote. Every vote counts!

@ahbah depends which one is more pro market

Go out and vote, vote those incumbents out. Let them know they talk ayam, they do not deserve to stay.

Ah China, where the decision of one man dictates the lives of 1.4 billion. "Whole process people's democracy" in action, folks!

Most investors expect Topglove and Harta to be excluded from the KLCI. It's amusing to see certain posters convincing people to believe otherwise.

@NatsukoMishima You talk so much, why you no support Dnex punya price? Mampus lah, forget RM4 - RM6 you punya prediction, 60sen you pun tak support. Cakap ayam all the way, lol!

Yeah I agree it is a risk, especially when Harta's QR was below expectation (IMO). When prices was 2.X, I did sold a portion of Harta, switch some to Kossan (seems more stable), and keep some cash for the next downturn. Topglove CEO also mentioned that we're still in the early stages, expect 2023 to be challenging. When will the market resolves the oversupply issue is anyone's best guess.

@YourQuirkyWays29 Lol, that's a good one!
When it reached 1.6X or lower, I'll be accumulating. If it has a predictable wave pattern, I'll make note to buy low and sell high, while waiting for gloves to recover.

Yeah I was looking at changes in net profit, if the decline doesn't change, good chance we might see net losses by the next QR.
The recent drop coincides with the loosening of covid-zero policy in China (Twenty Articles). Just a guess...

Imagine 80 years ago (1942) when Imperial Japan poses the same question, "why doesn't China surrender? China is the most corrupted nation in Asia," then you know how fked up this question is today. Anyone who listens to KYY has no sense of right and wrong. Pitiful.

Ok one thing is for sure, I am bad at reading chart, lol! Big drop in the morning. Let's see how low will it go.

Yesterday's selling pressure cools, let's see if can maintained after election (please go out and vote on Saturday) :)

When prices terjun from RM3 four months ago, most people already know that Harta will be excluded from FBM KLCI index. Don't know why some people still think Harta ada chance.

We don't know exactly when the gloves will overcome the oversupply problem (bila? 2023? 2024? 2025?) so expect price to fluctuate in a wave-like pattern. For nujums who predict sky high prices, forget about breaking 2020 high lah, unless markets anticipate super-giler-100%-kill-rate-covid22. The other group who persuade investors to cut loss at all cost, you ain't nujum pa' blalang either. Harta penny stock exactly when leh? Let me know exact date so I prepare money nak senyap2 beli, okeh? t'ma kasih!

@DestinyL There are two types of trolls here. One persuades you to sell or cut loss, the other persuades you to buy for fears of missing out. Both are evil.

@NatsukoMishima going around the town promoting this stock. Just stopping by to see what the fuss is all about.

Wah today Topglove manyak geng, very leihoy!

Agree it's too early to tell when we're going back to precovid levels. Topglove boss mentioned that 2023 is going to be rough year. Still if prices comes close to RM1, I'll buy some.

market manipulation or not, looks like someone is accumulating lots of glove counters. ikan bilis like me just follow and nibble along the way.
today is a good day for many industries :)

Go go Kossan!

Really strange arr.... most investment banks recommend sell. Yet price moving upwards. Who is buying/kutiping leh?

@JJPTR, but share price in 2019 is around RM5. Now it is RM2. Yes profit margin is bad, but that's reflected in the share price.

@8u29song, yeah agree. My tech stocks performed just as well as my glove stocks. Should have sold when I've had the chance, lol!

Interesting. Despite having similar profit level as Kossan's, people are still accumulating gloves. When I eyeball profit trend, it looks like 2023's gonna be a tough year. Buckle up glove holders, it's gonna be a rough ride.

How is 007 doing?

Okay results are out... net profit only 29.44 mil :(

@YourQuirkyWays29 Okay that makes sense.
Let's say that Harta's QR follows Kossan's (slightly less than half of 2019 net profit). Since Harta's quarterly profit in 2019 is around 105 mil, a slightly less than half amount would be around 45 to 50 mil. Of course this is just for fun, some primary school math!

@YourQuirkyWays29 What do you mean regarding Kossan's red? Kossan's net profit is positive (24.6 mil), although only less than half the profit in 2019 (50-60 mil).
@Cerubic Agree that companies in China (Intco, Bluesail) are not doing too well are on the same boat. On the other hand, a depreciating ringgit works to our benefit since Harta sells most of their products to U.S. and Europe. Nevertheless, expect 2023 to be another dismal year for the glove industry.

Agree with @YourQuirkyWays29, 1.6 to 1.9 seems to be the current market value. Below 1.5 worth accumulating, above 2.0, can lock on profit and wait for next cycle. Of course never say never, there's a possibility of going to 1.2 (lol!) but as long as Harta's fundamentals remained unchanged, good excuse to accumulate.

The oversupply problem may persists for another two, three years... to most investors, a bit early to buy and hold. But if you want to buy a good company at a deep discount and hold for a long, long time, this is the counter (and Kossan).

Waiting on next QR before deciding next move.

@Endgame Agree. Glove counters can buy and hold mother as long as the price is very cheap. Don't chase after high price because the industry is currently dealing with oversupply problem, which may clear in the next two three years. Buy when prices has bottomed out.

For those who chase glove counters and play contra, make sure lady luck and choysun is on your side.

Keep up the zero-covid policy, they're doing a splendid job!