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SC cracking down prepaid advisory groups mah all who joined telegram of fb investing groups all got spooked and flee

SC cracking down prepaid advisory groups mah all who joined telegram of fb investing groups all got spooked and flee

SC cracking down prepaid advisory groups mah all who joined telegram of fb investing groups all got spooked and flee

SC cracking down prepaid advisory groups mah all who joined telegram of fb investing groups all got spooked and flee

SC cracking down prepaid advisory groups mah all who joined telegram of fb investing groups all got spooked and flee

Top Glove charged with failure to provide Labour Department-certified accommodations

IPOH (March 16): Rubber glove manufacturer Top Glove Sdn Bhd was charged in 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 its 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 9am and 1.30pm on Nov 26 last year.

The charges were framed under Section 24D(3) of the same act, which provides for a fine not exceeding RM50,000 if found guilty.

Deputy Public Prosecutors (DPPs) Siti Syakimah Ibrahim and Zaihas Mohd Syakir Hasfar prosecuted the case, while the company was represented by lawyer Chew Jee San.

The court set April 28 for remention.

https://www.theedgemarkets.com/article/top-glove-charged-failure-provide-labour-departmentcertified-accommodations

Maybe diversify make rubber underwear can save it

Maybe diversify make rubber underwear can save it

This company sells only 1 product which is glove. How far can it go?

This company sells only 1 product which is glove. How far can it go?

JP Morgan pegs these glove makers’ fair value at up to half their market price, says supernormal cycle is over

https://www.theedgemarkets.com/article/jp-morgan-pegs-these-glove-makers-fair-value-half-their-market-price-says-supernormal-cycle

CEO CAN ALWAYS USE HIS PROXIES TO SELL MAH

WHEN A CEO COMES OUT SO ACTIVELY TELLING WHOLE WORLD THAT HE BUYS...U SHOULD BE CAREFUL. OBVIOUSLY HE HAS HIS INTENTIONS...JUST LOOK HOW TOPGLOVE SHARE PRICE COLLAPSING RIGHT AFTER

VACCINES ROLLING OUT. OBVIOUSLY DEMAND FOR GLOVES ALSO FLUSHED DOWN COLLAPSING

VACCINES ROLLING OUT. OBVIOUSLY DEMAND FOR GLOVES ALSO FLUSHED DOWN COLLAPSING

CHEAP ALSO NO USE. BIG FUNDS RATHER DUMPING AND BUY OTHER SOLID STOCKS

CHEAP ALSO NO USE. BIG FUNDS RATHER DUMPING AND BUY OTHER SOLID STOCKS

DOWNGRADED

DOWNGRADED

JPmorgan gave fair value 3.50 only

GAME OVER

GAME OVER

JPmorgan gave fair value 3.50 only

I agree with what stockraider said. Totally logical that there's no shortage of gloves worldwide. Glove makers just cheat many sochai into believing there's shortage..

Malaysia to charge second glove maker over poor worker accommodation

https://borneobulletin.com.bn/2020/12/malaysia-to-charge-second-glove-maker-over-poor-worker-accommodation/

Malaysia to charge second glove maker over poor worker accommodation

https://borneobulletin.com.bn/2020/12/malaysia-to-charge-second-glove-maker-over-poor-worker-accommodation/

GAME OVER

GAME OVER

Glove stocks in the red on EU vaccine roll-out

https://www.theedgemarkets.com/article/glove-stocks-red-vaccine-rollout

Glove stocks in the red on EU vaccine roll-out

https://www.theedgemarkets.com/article/glove-stocks-red-vaccine-rollout

PublicInvest Research downgrades Top Glove to 'neutral' on ESG concerns

https://www.theedgemarkets.com/article/publicinvest-research-downgrades-top-glove-neutral-esg-concerns

Top Glove downgraded from A to D in social compliance audit — report

https://www.theedgemarkets.com/article/top-glove-downgraded-d-social-compliance-audit-%E2%80%94-report

JP Morgan pegs these glove makers’ fair value at up to half their market price, says supernormal cycle is over

https://www.theedgemarkets.com/article/jp-morgan-pegs-these-glove-makers-fair-value-half-their-market-price-says-supernormal-cycle

JP Morgan pegs these glove makers’ fair value at up to half their market price, says supernormal cycle is over

https://www.theedgemarkets.com/article/jp-morgan-pegs-these-glove-makers-fair-value-half-their-market-price-says-supernormal-cycle

Those Tropicana directors quickly resigning after make Trop to buy TG shares. Should prosecute and jail them alongside with LimWC. Retard also know LimWC is the mastermind behind asking Trop board to buy TG shares lah

U call this international company? This cunning LimWC call himself billionaire? But mistreat own foreign bangla workers. Even use Trop to buy TG shares. Shameful lah

KUALA LUMPUR (Dec 7): Tropicana Corp Bhd announced a couple of boardroom changes today, including the resignation of an independent director and the redesignation of one to a senior independent director's post, while the company was asked to justify its recent acquisitions of RM78.47 million worth of shares in Top Glove Corp Bhd.

In separate filings today, Tropicana said its independent and non-executive director Loh Chen Peng, 66, who is also a member of the group's risk committee, has resigned from the board due to health issues, with effect from Dec 5.

At the same time, another independent director Datuk Tang Vee Mun, 47, has been made a senior independent director, with effect from today.

Meanwhile, Tropicana also announced it has been requested by the stock exchange to, among others, justify the rationale behind the group's purchases of 11.25 million Top Glove shares last Friday via the open market, given that the business is different from Tropicana's principal activities.

The bourse also wanted to know why Tropicana, which shares a common shareholder and chairman with Top Glove in Tan Sri Dr Lim Wee Chai, chose Top Glove over other glove companies. The group was also asked to elaborate on the prospects and risk factors of the acquisitions, given "the commercialisation of Covid-19 vaccine in the near future which may hamper the demand of gloves globally as well as the possible negative impact to the share prices of gloves companies including Top Glove".

In response, Tropicana said the Top Glove shares were transacted at prevailing market prices from the open market on the dates, between RM6.528 and RM28.898 (before Top Glove's two-for-one bonus issue) apiece.

It said Lim, who is the founder of Top Glove of which he controls a 25.68% stake — he is also among the top three substantial shareholders with an 11.07% stake in Tropicana — had voluntarily abstained from deliberating and voting for the acquisitions.

It also said the acquisitions were undertaken as part of its investment strategy to capitalise on the potential robust growth of Top Glove.

"The company has chosen to invest in Top Glove instead of other glove companies as Top Glove is the world's largest manufacturer of gloves. It currently captures approximately 26% of the world market share for rubber gloves. Top Glove has also demonstrated steady growth with a compound annual growth rate of 23.1% for revenue and 28.2% for profit after tax over the past 20 years," Tropicana said.

"The acquisitions allow the company to benefit from the prospects of the manufacturing and trading of gloves, which are largely contributed by the increased demand globally for gloves due to the ongoing Covid-19 pandemic and also the growth in the global healthcare services industry," it added.

Last Friday, The Edge reported that Tropicana's purchases of shares in Top Glove had raised questions about why it was buying into the group, whose share price had been declining, weighed by developments in the vaccine discovery space, and the surge of Covid-19 infections among its workers that had caused the temporary closures of 28 of its factories, or half its production capacity.

Shares in Tropicana slipped one sen or 1.14% to close at 87 sen today, giving the group a market capitalisation of RM1.2 billion.

Top Glove, which has spent more than RM1 billion to buy back its own shares since September as its share price retreats, ended the day at RM6.60, down five sen or 0.75% from the previous day's close for a market capitalisation of RM54.1 billion. While the stock has declined 25% since the start of September, it is still up 320% year-to-date.

Kick LimWeeChai out of Trop's board...

Teach all Trop's board of directors a good lesson by voting them out in next AGM and dumping Trop's shares downgrading it. Bad corporate governance and bad practice

Until can use Tropicana to buy Topglove shares? Use many excuses to justify the buying into TG shares. The worst corporate practice ever. Trop should kick LimWC out and sell all TG shares...should not buy the shares to support price. All foreign funds and Epf also keep dumping. U still cannot see this LimWC so cunning?