WHO reports another record daily increase in global COVID-19 cases, up nearly 260,000

Hold tight tight ... more highs and records to be broken

GENEVA: The World Health Organization reported a record increase in global coronavirus cases for the second day in a row, with the total rising by 259,848 in 24 hours.

The biggest increases reported on Saturday (Jul 18) were from the United States, Brazil, India and South Africa, according to a daily report. The previous WHO record for new cases was 237,743 on Friday.

https://www.channelnewsasia.com/news/world/covid-19-who-reports-record-daily-increase-global-cases-12944332

ya la ,, buy 1 lot at 23

waa .. superman fly till cannot stop leh .. go go go

lai lai lai 23

come on break 23

woo hoo ... going to be a great weekend for everyone

woo hoo ... going to be a great weekend for everyone

ha ha ha this race is like the movie Ford vs Ferrari

yes there is a possibility ... maybe after quarter result

hello 23

Hello 17

Top Glove even better .. +3

yesssss ..overtake harta d

must take photo and keep when supermax share price overtake harta

supermax overtakes Harta today .... wooo hooo

woo hooo ... +3

woo hoo .. panic buying .. go go go Supermax and Top Glove

woo hoo .. panic buying .. go go go Supermax and Top Glove

seems 16 difficult to push through .. twice d .. hu hu hu

woo hoo .. go superman +16

Hello 16

hello .. 22

Hold tight tight .. earnings just a few weeks away

Hold tight tight .. earnings just a few weeks away

Lai liao .. go go go Supermax and Top Glove

Lai liao .. go go go TG

TG fundamental strong ... have faith people

anyone manage to top up ? i wanted to buy more but it went up too fast worrrr

Latest price targets on Top Glove all above RM30 ... opportunity to buy more at a discount today

https://assets.theedgemarkets.com/pictures/2020716_consensus_rating_for_top_glove.jpg

Top Glove confident US Customs’ detention order on goods will be resolved within one month
Thursday, 16 Jul 2020 07:49 PM MYT

BY SOO WERN JUN

KUALA LUMPUR, July 16 — Malaysia’s Top Glove Corp Bhd has expressed confidence that it will be able to resolve a detention order issued by the US Customs and Border Protection (CBP) on two subsidiary companies that manufacture disposable gloves.

Its managing director Datuk Lee Kim Meow said following the engagement of a consultant that is familiar with such detention orders, they are expecting to resolve the matter within two weeks to a month.

https://www.malaymail.com/news/malaysia/2020/07/16/top-glove-confident-us-customs-detention-order-on-goods-will-be-resolved-wi/1885221

In a conference call, Top Glove bosses told reporters and analysts that shipments from the two units represent half of its U.S. sales, and 12.5% of its group sales. However, the group said other subsidiaries could still sell to the U.S. and that others countries would easily take up the returned shipments.

"We continue to ship because we can ship. Worst comes to worst, other countries will take up as well because the order book is more than 100%," Executive Chairman Lim Wee Chai said on the call about already logging orders for up to 18 months ahead.

Full Article

Amid virus crisis, U.S. bars imports of Malaysia's Top Glove over labour issues
Reuters | Updated: 16-07-2020 17:05 IST

U.S. Customs placed a detention order on imports of products made by subsidiaries of the world's largest medical glove maker, Malaysia's Top Glove Corp Bhd, an action taken against firms suspected of using forced labour. The bar on Top Glove products comes at a time when demand for medical gloves and protective gear has skyrocketed due to the coronavirus pandemic, which has hit the United States harder than any other country.

The U.S. Customs and Border Protection (CBP) website showed Top Glove Sdn Bhd and TG Medical Sdn Bhd were placed on its list on Wednesday but there was no statement explaining the action, though its "withhold and release" orders, detaining imported goods, are specific to forced labour issues. Top Glove, which also has production facilities in China and Thailand, said the move might be related to foreign labour issues, specifically recruitment fees paid by migrant workers to employment agents.

"We are reaching out to the CBP through our office in U.S., customers and consultants, to understand the issue better and work towards a speedy resolution of the matter, within an estimated 2 weeks," it said in a bourse filing. In a conference call, Top Glove bosses told reporters and analysts that shipments from the two units represent half of its U.S. sales, and 12.5% of its group sales. However, the group said other subsidiaries could still sell to the U.S. and that others countries would easily take up the returned shipments.

"We continue to ship because we can ship. Worst comes to worst, other countries will take up as well because the order book is more than 100%," Executive Chairman Lim Wee Chai said on the call about already logging orders for up to 18 months ahead. Top Glove said it had been bearing all recruitment fees since the start of this year, but it had still to resolve an issue regarding retrospective payment of recruitment fees paid, without its knowldege, by workers to agents before January 2019.

SHARE PRICE SLIPS A LITTLE "Over the past few months we have been working on this issue, which involves extensive tracing, to establish the correct amount to be paid back to our workers, on behalf of the previous agents," the company said.

A Reuters query reached CBP outside its office hours. Top Glove's share price had slipped 2.57%, a minor blip after a rise of over 350% this year.

Last year, CBP took similar action against another Malaysian glove maker, WRP Asia Pacific Sdn Bhd. The detention order on imports of WRP's goods was lifted in March after remedial action was taken. Top Glove Managing Director Lee Kim Meow said the company has engaged the same consultant that had advised WRP on the matter. He did not name the consultant.

"We have engaged them today and already set a plan in motion to take us quickly out of this detention order," he said. Independent migrant worker rights specialist Andy Hall said in a note to reporters on Thursday that forced foreign labour in Malaysia's gloves industry can only be addressed and reduced when past recruitment fees and related costs, which hold such workers in debt bondage, are fully repaid.

"In order to ensure no future debt bondage of these workers, ethical recruitment practices or zero cost recruitment policies should be put in place in practice, if the industry moves ahead to recruit more foreign workers in the future," he said. World consumption of protective gloves is expected to jump more than 11% to 330 billion pieces this year, two-thirds of which are likely to be supplied by Malaysia, according to the Southeast Asian country's rubber glove manufacturers group.

Top Glove's annual glove production is 78.7 billion pieces, and its 45 factories also make face masks, condoms and dental products. During a results briefing last month, the company said it had achieved unparalleled growth, boosted by an increase in demand from almost everywhere.

waa .. those who bought below 20 banyak untung lor

all TG trades after 3.30 rejected??

back to 15

i expect a v-shape recovery in Supermax price end of today

ya lor ... tech stocks also turn bearish

i expect a v-shape recovery in TG price end of today

stay calm people .. US already shortage of gloves and other PPE .. do you think they will stop the gloves shipment for too long???

Today we overtake Harta ... must take a photo and keep

Go Go superman ...

CBP has Put Hold order for Gloves exported to US due to force labour. HOW DOES IT IMPACT? Few points to consider:

a) US is running short on PPE per news days before.
b) US is importing nearly 10b gloves from Topglov and if they block the shipment, no other manufacturer can fill the gap in such a short time span as most manufacturer's capacity is already FULL till next year.
c) Some say China can export to USA, but with the current Trade War, do you think that is it possible?
d) Demand for glove is HIGH now, can Topglov sell to other country?
e) Can TG sell using other subsidiaries?

THINK ABOUT THAT.....

Source Facebook #WealthArchitect2u

CBP has Put Hold order for Gloves exported to US due to force labour. HOW DOES IT IMPACT? Few points to consider:

a) US is running short on PPE per news days before.
b) US is importing nearly 10b gloves from Topglov and if they block the shipment, no other manufacturer can fill the gap in such a short time span as most manufacturer's capacity is already FULL till next year.
c) Some say China can export to USA, but with the current Trade War, do you think that is it possible?
d) Demand for glove is HIGH now, can Topglov sell to other country?
e) Can TG sell using other subsidiaries?

THINK ABOUT THAT.....

Source Facebook #WealthArchitect2u

steady supermax ... going to leap frog over Harta soon

I can't seem to post the KAF report link on supermax. It always get deleted . Anyway the report is available on supermax website under analyst report section

KAF 14/7/2020 Supermax Reiterate Buy with a higher TP of RM19.22 (previously RM9.58).

Management has revealed a plan to add a new plant, i.e., Plant 15 with a capacity of 3.75b pieces pa.

I believe TG will exceed all expectation as they did last quarter. I noticed management has been very conservative when giving guidance

Credit Suisse raised TG target price to RM 37.00 .. Top Glove's monthly sales orderbook has grown 160% to 11.7bn pieces between Jan-Jun 2020. This was taken from Supermax forum

Anyone who has the full report kindly share here ya. As of writing TG is up +1.00 due to this report

Newplayer286 may i know who is the IB who wrote the latest on TG

hold tight tight guys .. vaccine news just to scare us nia .. go go up

hold tight tight guys .. vaccine news just to scare us nia .. go go up