supermax in may already selling USD150

https://klse.i3investor.com/blogs/supermax_analystbriefing/2020-05-28-story-h1507892261-Analyst_Briefing_Report_from_Supermax_Corporation_Berhad.jsp

@VYAP, can share july report one? thanks!

@freetospeak dont forget distribution also supermax haha usd150 in May

To all new comers,

you can have an idea of the ASP for supermax in April, May and June from supermax report.

https://klse.i3investor.com/blogs/supermax_analystbriefing/2020-05-28-story-h1507892261-Analyst_Briefing_Report_from_Supermax_Corporation_Berhad.jsp

ok updated try again tq

Link fixed, try to download and let me know, you r welcome :)

https://klse.i3investor.com/blogs/supermax_analystbriefing/2020-05-28-story-h1507892261-Analyst_Briefing_Report_from_Supermax_Corporation_Berhad.jsp

investor report from supermax

https://klse.i3investor.com/blogs/supermax_analystbriefing/2020-05-28-story-h1507892261-Analyst_Briefing_Report_from_Supermax_Corporation_Berhad.jsp

good sign

gg i saw 50 lots bought at 12.44 and so many big lots

Who bought at 12.10 hahahahahahah another V shape recovery

V shape recovery

@OTB

so Supermax can be consider for KLCI index?

I am just gonna close everything not to see and enjoy my life hahaha

today is superday!!!!!

a good article to look at kossan TP 16

https://klse.i3investor.com/blogs/spartan/2020-07-09-story-h1509826040-MY_NEXT_GLOVES_COUNTER_TO_SKYROCKET.jsp

https://www.nst.com.my/world/world/2020/07/606761/us-posts-new-daily-covid-19-case-record-60209

freetospeak, I dont think anything will happened except the announcement of Q4 next month (mid-aug). I have been noticing big lots buying at the end of trading hour just like Topglove.

For those who are new in Supermax:

have a look at this investor briefing report from supermax and you will have an idea how good it is this qr will be

https://klse.i3investor.com/blogs/supermax_analystbriefing/2020-05-28-story-h1507892261-Analyst_Briefing_Report_from_Supermax_Corporation_Berhad.jsp

I can only say tomorrow will have major selldown ....

uncle koon new post about supermax

https://koonyewyin.com/2020/07/08/nitrile-glove-price-increased-by-260-in-uk/

If TeamRocket buy supermax instead of barking here and there, I think he should already earn a handsome profit.... but he has poor people mindset kesian

Because his whole family is a dog bark here bark there everytime

haha waiting TeamRocket to cut his burung ku ku soon !!!!!!!

TeamRocket you got no money then shut up la

HAHA 4.25 pm got another show

tmr 11?

Stephanie Cheah
stephanie.cheah@clsa.com +60 3 2056 7873
7 July 2020
Malaysia
Healthcare
Top Glove
TOPG MK
BUY
HART MK
Rec
Market cap 3M ADV Price
Target Up/downside
US$11.6bn US$55.7m RM19.96 RM22.00‡RM28.00 +40.3%
Hartalega
Rec
Market cap
3M ADV
Price
Target
Up/downside +21.2%
Kossan Rubber KRI MK
BUY
US$12.7bn US$26.0m RM16.50 RM16.30‡RM20.00
Rec
Market cap
3M ADV
Price
Target
Up/downside +25.2%
Outperform‡BUY US$2.8bn US$10.3m RM10.38 RM9.80‡RM13.00
www.clsa.com
Malaysia gloves
Sector outlook
Thanks for your support in the
Please click here for our voting matrix.
Rational exuberance
Backing out the implied long-term growth using GGM
Record profits for 2020 are now a given, but it is not known whether this is sustainable or for how long. Our analysis after triangulating various industry data points suggests glove demand will stay strong through 2021 and potentially even until 2022 on restocking activities. We see ample upside for glove manufacturers despite the run-up, with our target prices derived using modest target P/E implying long-term growth of 5% (based on GGM), against normalised industry growth of 8-10% p.a. Maintain sector Overweight with Top Glove our top pick and Kossan Rubber upgraded from Outperform to BUY.
Global supply shortage forecasted throughout the next three years
q Concerns about competition from Chinese players have led us to map out global demand and supply dynamics via the triangulation of industry data from various sources.
q We project glove demand to grow at 25%/15%/10% in 2020/21/22, versus the historical run-rate of 8-9% p.a.
q Against the forecasted global supply by various players, which would yet see some downside from delays/cancellation (especially from overly aggressive Chinese players), we foresee a glove supply shortage continuing throughout the next three years.
Higher base ASPs sustainable so long as spot demand persists
q Recent share price rerating is driven predominantly by expectations of sector earnings surge, with the market extending expectations for earnings to now peak by 1H2021.
q In our view, base ASPs will remain at current elevated levels so long as spot orders are
sustained. We believe spot demand will only start contracting when demand supply
imbalances normalise, a scenario we believe will not materialise until post-2022.
q Even then, the industry would have gone through a significant drawdown in inventory, which necessitates end users and distributors to rebuild buffer inventories for another year. We expect this coupled with significantly higher cost of operations in the new norm
to sustain a c.20% higher run-rate ASPs vis-à-vis pre-Covid-19 levels.
CLSA street high earnings estimates across the three glove makers
q The fact that the Malaysian glove makers will report bumper profit in CY20 should no longer come as a surprise to the market, but the question is: for how long?
q Top Glove – We believe Top Glove could report c.RM1.2bn net profit in 4QFY20 (4x higher QoQ) underpinning our FY20 (Aug) earnings raise by 37%. Such strong profits is expected to extend to FY21/22 where its higher spot mix is supportive of our 187% YoY earnings growth in FY21 to RM5.2bn. Current share price implies valuations of 10x FY21 and an undemanding 34x (below +1.5s.d) based on normalised FY22 earnings.
q Hartalega – Relatively late to the game of price hikes, the significant demand has put upward pressure on ASPs. We raise our FY21 (Mar)/22/23 net profit by 10%/50%/31%. It is now apparent that Hartalega will see similar upsurge in ASPs, albeit with a slight lag.
q Kossan – Visibility on ASP is limited, but we are also raising our FY20/21 net profit by 53%/109% as our previous assumptions were overtly conservative relative to peers.
Historical P/E trend irrelevant against sector peak earnings
q The sector peak earnings, whilst a positive, poses a significant challenge for PE-based valuation, as the historical P/E trend is no longer meaningful.
q Intuitively, the target P/E multiple should reflect the fact that the 2021/22 earnings is elevated and could potentially normalise after. This begs the question as to whether it is fair to use historical P/E trend to value the stock on earnings that is not sustainable.
q In valuing the stocks, we have therefore applied a significantly lower target P/E depending on how elevated the forecasted earnings is to the cycle-adjusted earnings.
q Our target P/E for Top Glove/Hartalega/Kossan at 15x/35x/19x implies LT growth of c.5% p.a., which we believe is reasonable versus industry trend of 8-10% p.a., and the fact that these players are dominant in its field.
q We lift our TPs across the board: from RM22.00 to RM28.00 for Top Glove; from RM16.30 to RM20.00 for Hartalega; and from RM9.80 to RM13.00 for Kossan. While we reiterate our BUY ratings for Top Glove and Hartalega, we upgrade Kossan Rubber from Outperform to BUY on our earnings upgrade and significant discount in valuations.
CLSA

https://klse.i3investor.com/blogs/iisb/2014-06-12-story54187-What_is_a_PN17_company_Do_you_sell_or_buy_its_shares.jsp

This is the warning before PN 17

Pursuant to paragraph 9.19(37) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, it is noted that the Company's external auditors, Messrs Ernst & Young PLT, have issued an unqualified audit opinion with emphasis of matter on material uncertainty relating to going concern in respect of AAGB's audited financial statements for the financial year ended 31 December 2019.

I once hold careplus more than 4 years avg 0.3 and sold at 0.9 then I use the money invest in Supermax.

You have to know careplus growth is the smallest among all glove players and you have to not be stubborn stick to careplus but change to another ship to grow yr capital. This is my advice for you all.

uncle infinity also swimming with them

Today movement is already very obvious ady. IB and foreign funds came in during the drop

tmr 0.80 below ciao

This is why the poor is poorer and the rich is richer as time goes by ,..... TeamRocket is the poor one haha

CIMB revised margin valuation :

TOP gloves $15
Supermax $7.00
Harta $11.00
Kossan $ 7.50
Comfort $3.00
Ruberex $2.50

CIMB revised margin valuation :

TOP gloves $15
Supermax $7.00
Harta $11.00
Kossan $ 7.50
Comfort $3.00
Ruberex $2.50

uncle infinity top up until no money already .. just wait to see the show

one day will drop below RM 0.5. the share price are always supported by the company's earning. ANalyst already say FY 20 will have RM 4 bill loss especially Q2

how come SUpermax and kossan TP is the same for KENANGA?????? wth

manage to top up some share at 10 ahhahahhhahhhahaa

WOW KENANGA RM 14 !!!!!

UOB TP RM17.60 for supermax

https://klse.i3investor.com/blogs/Supermax_TP_UOB/2020-07-06-story-h1509772900-Supermax_Corporation_Berhad_UOB_TP_RM_17_60_Shine_bright_like_a_diamond.jsp

UOB KayHian TP for Supermax Corporation Berhad - RM12.40 - > implies RM17.60

https://klse.i3investor.com/blogs/Supermax_TP_UOB/2020-07-06-story-h1509772900-Supermax_Corporation_Berhad_UOB_TP_RM_17_60_Shine_bright_like_a_diamond.jsp

UOB KayHian TP For Supermax Berhad - RM 17.60

https://klse.i3investor.com/blogs/Supermax_TP_UOB/2020-07-06-story-h1509772900-Supermax_Corporation_Berhad_UOB_TP_RM_17_60_Shine_bright_like_a_diamond.jsp

Supermax Corporation Berhad UOB TP - RM 17.60 - Shine bright like a diamond

https://klse.i3investor.com/blogs/Supermax_TP_UOB/2020-07-06-story-h1509772900-Supermax_Corporation_Berhad_UOB_TP_RM_17_60_Shine_bright_like_a_diamond.jsp

Supermax Corporation Berhad UOB TP - RM 17.60 - Shine bright like a diamond

https://klse.i3investor.com/blogs/Supermax_TP_UOB/2020-07-06-story-h1509772900-Supermax_Corporation_Berhad_UOB_TP_RM_17_60_Shine_bright_like_a_diamond.jsp

Means Kossan is gonna fly too !!!

Supermax Corporation Berhad UOB TP - RM 17.60 - Shine bright like a diamond

https://klse.i3investor.com/blogs/Supermax_TP_UOB/2020-07-06-story-h1509772900-Supermax_Corporation_Berhad_UOB_TP_RM_17_60_Shine_bright_like_a_diamond.jsp

Supermax Corporation Berhad UOB TP - RM 17.60 - Shine bright like a diamond

https://klse.i3investor.com/blogs/Supermax_TP_UOB/2020-07-06-story-h1509772900-Supermax_Corporation_Berhad_UOB_TP_RM_17_60_Shine_bright_like_a_diamond.jsp