You can see from annual report page 59 (latest) on trade receivables, as most of the trade receivables are denominated in US dollar (RM43 million vs RM15million). Most likely they are trading in USD if using trade receivables assumption. Probabily the US dollar will be improving the result but euro dollar loss will also drag down the profit a little bit. Most probably 4sen eps for next quarter and 16sen per year. As today price 1.54 with PE10 only will reach around 1.60. The dividend about 10sen probably will increase PE a little bit. I only foresee the upside for this share is about 10 to 15 percent as the share price already almost fully value. Just my cents.

Icon8888 recommendated share
PRG - share price
03-27 0.720, 03-30 0.710, 03-31 0.685, 04-01 0.675, 04-02 0.660, 04-03 0.710, 04-06 0.715. 04-07 0.700, 04-08 0.710

Optimusprime recommendated share
Nil - still talk cock

Extended anti dumping policy does not mean profit will increase. Just profit will not dropping only. Euro dollar not performing well plus the Greece crisis. Sorry to say. I did not see any potential profit improvement in this share based on last quarter result

haha go iris thread promote Iris. Dun come here promote

Last week news. Not old news

We have refurbished the old plants and new lines are running at full capacity. Supermax’s yield today is almost the same as others in the industry.

Capacity has been filled for April in accordance to the normal practice of filling capacities two to three months ahead.

Why was there a decline in Earnings before depreciation, interest, taxes and amortisation margin in the nine-month of 2014?

This was due to increase in operating cost and downtrend in oil price.

The sudden increase in utility costs in such short notice last year did not give ample time for the company to adjust itself.

A downward pressure in utility, transportation and logistics costs is expected in the third quarter of 2015.However, the industry had yet to see a decline in transportation costs since the downtrend in oil price. For the last two years, the group had been struggling with cost pressure, although the group experienced full production capacity.

Would the implementation of goods and services tax (GST) have any effect on the industry?

Generally, the implementation of the GST will impact most businesses. The smaller players will be affected most, as it will disrupt their cash flow.

Thai not known to mince his words

SUPERMAX Corp Bhd executive chairman Datuk Seri Stanley Thai is not known to be a man who minces his words. He shot to prominence outside the corporate world for speaking out against corruption and wanting to see improved public sector governance.

His views that hogged the limelight before the general election (GE) in May 2013 quickly labelled him as a sympathiser of the Opposition.

It did not held that officials from the Inland Revenue Board (IRB) decided to pay his office in Sungai Buloh a visit after the GE and that the Employees Provident Fund (EPF) pared down its stake in the company.

The visit by the IRB officers could not be explained. But EPF paring down its stake in Supermax is part and parcel of the fund’s investment strategy.

“Companies such as Supermax are not its core holdings. It takes positions depending on the cycle of the industry,” says a fund manager.

Last December Thai and his wife were charged in court with alleged insider trading in 2007 involving shares of a company that Supermax had acquired – APL Industries Bhd.

Adversities are not a new phenomenon for those involved in the glove industry where Malaysian companies dominate the world stage producing 62% of the 176 billion pieces of glove in 2014.

With his innate knowledge of building a local brand onto the global stage, Thai had overcome many challenges within and outside the country.

He is known to speak out against poor public sector governance and lack of government support for the glove industry long before the 2013 GE.

Supermax was one of the early glove manufacturers listed in 2000. Then the glove sector was known as the “cowboy industry” and shunned by serious funds because they could not analyse the earnings cycle well.

Only after 2009 that the industry – after some consolidation – went into a high gear and became a playground for serious investors.

Through the early years, Thai saw Supermax through a consolidation where it acquired three other large globe manufacturers to become a global brand.

It was no easy effort. But that is the hallmark of a global player.

In an interview with StarBizWeek, Thai talks about Supermax and its business for the next generation.

SBW: Would you comment on the delay in commissioning Plants 10 and 11?

Thai: The delay by 1½ years was due to the infrastructure - namely gas, electricity and water supply, not being available. The construction works were fast. They were being commissioned in stages.

As of January 2015, a total of 16 single equivalent production lines were commissioned with the remaining 24 lines to be commissioned in batches by the end of 2015.

The total new capacity from the two plants will be 600 million pieces of gloves per month starting end of 2015. Thus, new additional capacity for Plants 10 and 11 will be 7.2 billion gloves for year 2016.

The new plants would see the ratio of nitrile gloves to natural rubber latex gloves be about 55:45, which is in tandem with the industry demand.

Would there be a glut in nitrile?

No, because the amount of new capacity coming into the market is not happening fast enough compared with the growth in demand.

Infrastructure remains the biggest challenge today, while labour is not an issue because new plants are now automated and are less labour-intensive.

Will 2015 be a better year for glove players?

This year will be a challenging one for the industry due to the rising operating costs, inflation, and red tape.

However, the industry has an advantage as it is 100% export-oriented and sales are US dollar-denominated. Therefore, the falling oil price and the weakening ringgit against the greenback is not a setback for industry players.

The ringgit is currently among the weakest currencies in Asia, therefore, glove makers here will benefit compared with those from Thailand, Indonesia or China.

The industry will gain from the reduction in electricity tariffs and gas, as operating costs will be reduced.

Why is the average selling prices low?

The average selling prices (ASPs) have been trending lower for most of 2014 in tandem with falling raw material prices.

In order to be globally competitive, Supermax increased production output of nitrile gloves in line with the current market demand and has been maintaining its manufacturing margins of nitrile gloves of between 9% and 11% in line with the global market price, especially nitrile gloves from China and Thailand.

A price war was expected in the second half of last year, but that did not take place simply because the oil price was still high. We do not anticipate price competition to be intense as gloves made in China, Indonesia and Thailand are more expensive today.

It is said that Supermax has not invested enough in technology in tandem with the technology upgrade when there was a shift from natural rubber latex glove to nitrile gloves. Is this true?

Not true. We have met our natural rubber latex glove manufacturing capacity.

http://www.thestar.com.my/Busine ... is-words/?style=biz

郑金森否认抽离手套领域 速伯玛进军医疗器材

财经新闻 财经 2015-02-22 09:37

郑金森： 已投资速伯玛进军未来的领域， 怎么可能现在撤资?

（吉隆坡21日讯）速伯玛（Supermx，7106，主板工业产品股）执行主席兼集团董事经理拿督斯里郑金森否认将离开手套领域，反而透露速伯玛酝酿进军高科技医疗器材领域。

“我现在已经投资着未来的领域，怎么可能现在卖掉手上的股权？”

郑金森、其妻子及妻姨，因7年前涉嫌子公司亚太工业（APL Industries）的内线交易，在去年12月就被控上庭，唯三人否认控状。

6月宣布新产品

有关案件曾导致速伯玛的股票出现下滑迹象，更有流言蜚语指郑金森或许将从手套领域脱身，但是郑金森否认。

郑金森接受《星报》访问时透露，速伯玛投资其他领域主要是为了多元化公司的收入，暂定今年6月宣布一系列的新产品，也清楚阐明新产品并非与手套业相关，反而和医药领域有密切关系。

为设分行走遍全球

郑金森说，从速伯玛2000年首次公开招股至今，他已经走遍全球许多地方为公司开设分行及销售中心，只为了打造一个良好的手套品牌。

“所以当你到了一个程度，拥有忠心的客户和外界对品牌的认可，增加不同的产品系列将会是个很正面的行动。”

他透露，速伯玛也在去年3月7日成立一家握有98%股权的子公司Super Vision Optimax有限公司，主要是为了生产及制造保健相关产品，并通过速伯玛现有的销售网络分发到世界各地。

内部筹措营运资金

投资全新医疗器材的前期投入就高达6500万令吉，而该公司也是在英国做产品研发工作。

他说，生产医疗器材的投资符合政府打造高收入国的愿景，因为这将无需依赖外劳。

“我们大多是聘请在先进技术方面有专才的白领工作人员。”

郑金森透露，速伯玛将通过内部注资及贷款的方式来筹措新公司的营运资金。

郑金森已经为这家新公司拟定全球扩展方案，包括将会设立分销及运输中心专门专司处理南太平洋地区的生意。

“我们需要等到一个好的时机，才打入中国并设立销售和分销中心。”他说，速伯玛希望能够拥有来自美国和英国的研发和科技，来推动国内的高科技医疗器材生产力度。

双溪毛糯厂房或生产新产品

谈到新产品线的生产基地，郑金森是属意速伯玛目前在双溪毛糯的厂房，因这主要的厂房处于策略性地点。

“这个厂房若要处理低端产品，那就太昂贵了。所以非常适合来生产高端的产品。”

速伯玛在双溪毛糯的首间厂房从1994年开始投产，后来也在2001年设立第二家厂房，共有19条生产线。

据了解，速伯玛在近期已经提升首间厂房的机器。

他说，手套领域非常活跃，需要经常提升生产量及效率，大约每10年就需要升级机器，15年就要丢弃现有的机器。“接下来三五年，第二间厂房的机器就到了要升级的时候，所以可能会将它转型为一家生产高科技医疗设备的工厂，因为这里的地价也是更高。”

手套仍是主要业务

虽然已经有足够稳定基础进军高科技医疗器材领域，郑金森强调该速伯玛的主要产品仍将会是手套。

他相信，速伯玛将能够在不忽略手套领域生意的情况下，开拓高科技医疗设备的市场。

“但是我们也打算进入更高端的制造业，达到几乎所有东西都自动化，需要很多的机械、化学及机器专业的工程师。”

他说，手套将会继续成为主要生意，而这将会在巴生、加埔及中路的6个厂房进行。

除了位于巴生的厂房外，速伯玛也在双溪毛糯设有2间厂房，另在马六甲、太平及怡保各有1间厂房。

该公司也积极增加其生产力度，并于2013年在双文丹购买土地兴建速伯玛商业园，也将在今年于巴生加埔兴建的“手套城”计划，料将在未来10至12年间建立6个厂房，每间厂房将能生产41亿只手套。

问答录

问：可否针对第10和11厂房延迟竣工做解释

答：延迟一年6个月主要是因为基础设施如天然气、电力和水供方面仍未做好准备。建筑工人的速度已经很快，按照各阶段完工。截至2015年1月，已经有16个生产线完工，另外的24条生产线料在2015年完工。这两个新厂房大概竣工后每个月能够生产6亿只手套，所以2016年就有高达72亿只手套的产量。新厂房的生产比例为55%丁腈手套，45%为天然橡胶手套。

问：会否出现丁腈手套过剩的问题？

答：不会，因为目前市场的新产量增加的幅度，仍追不上市场需求增长的速度。

问：2015年对手套领域业者而言是否更好？

答：因为营运成本增加、通货膨胀及各种繁文缛节，这将会是个挑战性的一年。然而这个领域因为是100%出口为导向，且以美元结算，所以有些优势。所以油价下滑和马币疲软对业者而言，不算是挫折。

令吉应是目前亚洲最弱的货币，让我国的业者能够比来自泰国、印尼及中国的业者更具优势。我国业者也将会因为电费降价和天然气价格下滑，能够降低营运成本。

问：为什么平均售价偏低？

答：因为原料价格下跌，所以2014年的平均售价都偏低。为了确保在国际上具备竞争力，速伯玛提升丁腈手套产量，也成功维持大约全球9%到11%的产量，尤其是满足泰国、印尼和中国的需求。

去年下半年原预料会爆发削价战，但因为油价偏高而没有发生。目前中国、印尼和泰国的丁腈手套价格更为昂贵，因此我们也没有预料会出现价格战。

问：有人认为速伯玛过去在市场从天然橡胶手套转向丁腈手套时，没有足够投资来升级技术。

答：这不正确，我们的天然橡胶手套产量已经是目前的最高了。我们翻新旧厂房，新生产线也是开足马力。速伯玛的产量和业内的其他同行很相近。

问：速伯玛在2014年首9个月的收入下滑，为何会这样？

答：这是因为营运成本的增长和国际油价下滑。基础设施成本突然上涨，也让公司没有足够时间做调整。

我们预测今年第三季可能将出现交通、运输和基础设施的价格走低。然而油价下滑至今都还没有看到运输价格的下滑。即使我们全力生产，但过去两年在成本仍面对挑战。

问：消费税会否影响手套领域？

答：总的来说，消费税将影响大多的生意。小型业者将收到最大的冲击，因为这将会直接影响他们的现金流。

http://www.nanyang.com/node/682744?tid=462

Harta and Kossan drop due to they bought derivatives for rubber. Hence increase in price do not have impact on the company as their rubber (cost) also bought in USD. But i dont know whether Supermax have any derivatives on rubber. Based on last quarter i did not see any derivatives. Just scare that this quarter they will buy like Harta and Kossan to prevent increase in rubber price.

harta result not good, harta up,supermax drop. Kossan result not good, kossan drop,supermax drop.

Topglove latest EPS drop slightly, Harta EPS drop abit, Kossan EPS drop slightly. So how is Supermax? We shall see

Q4 EPS 4.25sen

Dont forget Supermax still got insurance claim for Alor Gajah factory. Also, currency gain for Forward contract. I dont know whether their production have increase but surely will be better at least 25percent EPS compare to last quarter

Mr Low Gay Teck where is your 2billion project that ypu talk so long? Why not even one project you have launch? What have you done in the past 1 year? Sleep and makan gaji buta?

No new project launch yet. See how the revenue increase. Tell me pls MR Low Gay Teck, our beloved CEO and Ms Chiu, our beloved main shareholder from Mayland!!!

Unbilled sales= 200mil 2015 still got 4 quarter. Each quarter eps=1sen Year 2015= Total EPS=4sen. PE13. One word= die

Haha u say spelling wrong. English wrong. Total cash wrong. Total assets wrong still can believe. EPS also wrong? This is the most important thing for their boss. They also can calculate wrong? Somemore need so many days to realise. Really seem like manipulate the figures

You can see this will be happening soon. 1st step issue ICULS. 2nd open market buy ICULS. 3rd declared dividend. 4th all ICULS owner changed to ordinary shares. 5th company alot of cash. 6th dont launch new project so that EPS will drop. 7th come out fake EPS report. 8th admended report after CNY. 9th minority shareholder angry and throw the share. 10th shares price drop like hell. 11th privatized with cheap price.

As expected, scammer management detected.骗你过新年

Good luck xcu843 for holding this conman management share. Dun tell me i didnt warn you. I dont see this management will do anything good to the minority shareholders. They just a bunch of lazy and NATO management which using public fund for their own benefits.

Number of shares increase and total profit drop. EPS also can increase. Totally misleading the investor.

Mayland, who is L&G mainshareholder, famous for delaying their project. See the element ampang. They promise to deliver the project by Mar 2014. But in the end the project only delivered on Sep 2014. I foresee another delay project on damansara foresta which expected to be completed by end of 2015.

haha you all nvr know that L&G management is famous for no action talk only? Still believe with Winnie Chiu? You tink they will pay you fat dividend. Dream on. From the last time they issue the ICULS for L&G, already know their management pattern. Now proven again with the manipulated quarter report that misleading investors once again. I really want to ask them where is the damansara foresta 2, elementa ampang 2 and another golf club project which promised since early 2013 that they will launch the project by 2014. But until early 2015, still no news on these three project. After that keep on say they wan to launch but again no action have been taken.

Again zero revenue. Eh i wan be their director le. Two years and nvr earn a single sen and have fat cat salary. Tukang sapu lebih pandai dari director of SONA. Loss getting bigger and bigger. One of the "best" directot in bursa!!!

Supermax will be improving result due to:
1) USD appreciation. Last quarter average usd1 = RM3.19 current quarter will be around usd1 = RM3.40 (RM0.21 per USD improvement)
2) Last quarter eps 1 sen on currency loss, tis quarter estimated eps 1.5 to 2sen currency gain. (Net off 2.5sen to 3sen improvement)
3) New production expansion - production to increase by at least 20%. Will be increase by 100% once all Meru production line finish commissioning.
4) PE 10 only compare to peer PE25 for Harta, PE20 for Kossan and PE15 for Topglove
5) Estimated EPS will be 7sen next quarter. Last quarter 4sen, plus currency loss 1sen from last quarter plus currency gain this quarter 2sen plus new production line at least eps 1 sen. Hence it will be 7sen tis quarter. Buy at your own risk and good luck :)

u tengok ini. AED currency naik lagi. So Meena Plaza (Abu Dhabi) will contribute more income due to AED currency look strong http://www.xe.com/currencycharts/?from=AED&to=MYR&view=1Y

ini 35.5 sen mahu shoot 10 sen hari siapa mau beli? ini bukan genting. 10sen sap sap sui hahaha

stupid ppl, sumatec PE901.9 tell ppl go and buy. zelan PE5.04 u tell ppl sell. I dont know how u earn money in stock market

Mungkin dia beli kat 0.385. Sudah rugi 10%

Kcyim1970, u sell now. Then it will rebound :-)

Haha play contra sure trap la. This is long term play share. Not short term. If play short term im sure u kena trap haha. Sell it now if u play short term

if you easily affected by the dropped of share price, please sell all your zelan share and leave this forum!!

Look like alot of Mr Market expect this share go up to RM0.70 within few days. Dun so naive pls

2 quarter eps 3sen. If remain the same, full year 6sen eps. Plus Meena Plaza, Aed515mil (equivalent to rm468mil) will be complete in 15months. Hence, each month Zelan will recognise RM90mil per quarter!! Imagine now the revenue only stood at RM65mil. If add up Meena Plaza revenue i will become RM150mil revenue next quarter! Imagine the eps next quarter. How much i will sky rocket! Currently PE only stood at 4.9. With the high grow rate in the next few quarter, share price become double is not a problem!!

Bing, try to search on previous history project on mayland on lowyat forum. See what they comment. You can refer to element ampang lowyat forum as well. I know the company management have make an promise to deliver on time. But base on past history, they always fail to do so. My advise is sell now. Only buy if they really launching their project. (I mean they really sell on market).

With the unbilled sales left only 390million and no more project. Foresta will be completed only in end of 2015. With the lambat and gamtam style fro. Main shareholder Mayland, this project sure delay. Refer to element ampang, they delay the completion by 3month. Hence assuming the project will be complete on early march 2016, there is 7 more quarter to go. Revenue will be reach average of 55mil per quarter.Assuming the earning is 15%, the profit only stood on 5.5mil per quarter, which is only eps one sen. If add on the new property on putrajaya, only contribute 0.5sen per quarter to profit. Hence eps left 1.5sen. Plus share diluted. I cannot imagine how bad it is l&g share look like. Good luck for remaining shareholder. Popi this NATO Low Gay Teck faster launch his project sooner

Let's see next quarter result. See who is the honky in your mouth.

This ceo always NATO (no action talk only), from the beginning of 2013, already say wan to launch golf club, Foresta 2 in 2013. Then say wan to go in penang and sabah project. Then he repeated it again in 2014. Until now,already near to the end of 2014, nothing accomplished. Typically NATO type of CEO lau gay teck

Anyone can tell me other than foresta project, any project have sold to the public? If only left foresta project, then next quarter revenue will surely drop due to no more project generated from element ampang. If u keep until next quarter out, im surely u will redget. Next quarter revenue confirm drop alot if compare last quarter

Good share with qoq improvement, high profit margin, no debt, a lot of cash, good future development with high gdv, enter into property sector, director got 20 years experience in property development sector, cheap land for gohtong jaya and klang, low number of share, stable dividend, rm130 unbilled sales for core business with low pe9. Cannot find any reason not to invest into such undervalue share

I dun know what will happen in 2years time. Among top 4 glove, Supermax will adding the most glove in term of number of glove and.percentage in 2014 compare to other 3. Also, Supermax having a inter-switch machine between rubber and nitrile glove. Imagine what is the growth percentage in term of EPS in 1 years time? Other than the EPS factor, PE also undervalue. Now, Supermax are heading to add more production in nitrile glove. Hence I think the profit margin will be improve and highly automated machine will further improved the profit margin. Hence 2014 is the year for Supermax!

Anyway, anyone know what is the competitor advantage of harta? 1st producing nitrile glove which is higher margin than rubber glove (They producing 100% nitrile yield). Second they do not have any bank borrowing which make cost save on interest. 3rd they using automated machine which is less dependant on staff cost. 4th they have the lightest glove in the world. Other than that, harta is the world largest nitrile glove producer.

If u invest based on the market price performance, then your earning will be limited

PE23 not overvalue but PE13 already fully value. What is this world? Look at topglove, PE16, Kossan PE18, Supermax PE13. Is it PE23 better than other company? What is the basic that you say supermax is the 4th best among top 4 glove? Do you study what happeningnto aupermax? They reducing the quantity due to the fire not becauae they cannot compete with other. Hence it ia invalid to aay that aupermax is the 4th among them

http://klse.i3investor.com/blogs/pingdan/55462.jsp

http://indianexpress.com/article/business/companies/runway-clear-for-airasia-operations-may-start-from-may/
India permited granted, according to India newspaper...

thx for kclee for your advice. Appreciate it. Will be improve on next thread