GREEN

The Star - CGS-CIMB Research stays Overweight on glove makers

TG hit 27...... supermax coming......

coming again..... hold tight

its a dingdong market...... trend still up.....

my opinion....

care+ racing to limitup...... dun sell!!!!!!!

No contra ban

Contra trade ban not an industry-wide practice, says stockbroking group
theedgemarkets.com
/
theedgemarkets.com

August 18, 2020 13:15 pm +08


-A+A
KUALA LUMPUR (Aug 18): The recent report of contra transactions for certain counters is not an industry-wide practice, said Association of Stockbroking Companies Malaysia (ASCM).

In a statement today, ASCM’s Secretariat Office said it was one broking house’s independent initiative to curb contra trading of certain counters to manage their business in accordance with their risk appetite.

theedgemarkets.com had on Aug 14 quoted Hong Leong Investment Bank Bhd senior analyst Ng Jun Sheng as saying there were rumours that certain brokers are banning contra transactions in glove stocks, which really curbed appetite.

Checks by theedgemarkets.com had then revealed that one stockbroking firm was scheduled to implement the glove share contra transaction ban yesterday.

ASCM said contra transactions being an industry norm are still very much allowed and in effect.

It said the rules of Bursa Malaysia are principle-based and they require the brokers to adhere to the best practices in trading and risk management.

“Capital Market stakeholders have always been proactively reviewing the market to effectively manage and mitigate market risk and to ensure a fair & orderly market at all times.

“Each individual broker can implement risk management measures that are best suited to the broker’s financial strength and risk appetite,” it said.

Last Friday (Aug 14), securities of rubber glove manufacturers including Supermax Corp Bhd, Top Glove Corp Bhd, Kossan Rubber Industries Bhd and Hartalega Holdings Bhd closed down among Bursa Malaysia top decliners on speculation certain stockbroking firms are banning contra transactions involving glove manufacturers' shares.

No contra ban.....

Contra trade ban not an industry-wide practice, says stockbroking group
theedgemarkets.com
/
theedgemarkets.com

August 18, 2020 13:15 pm +08


-A+A
KUALA LUMPUR (Aug 18): The recent report of contra transactions for certain counters is not an industry-wide practice, said Association of Stockbroking Companies Malaysia (ASCM).

In a statement today, ASCM’s Secretariat Office said it was one broking house’s independent initiative to curb contra trading of certain counters to manage their business in accordance with their risk appetite.

theedgemarkets.com had on Aug 14 quoted Hong Leong Investment Bank Bhd senior analyst Ng Jun Sheng as saying there were rumours that certain brokers are banning contra transactions in glove stocks, which really curbed appetite

Checks by theedgemarkets.com had then revealed that one stockbroking firm was scheduled to implement the glove share contra transaction ban yesterday.

ASCM said contra transactions being an industry norm are still very much allowed and in effect.

It said the rules of Bursa Malaysia are principle-based and they require the brokers to adhere to the best practices in trading and risk management.

“Capital Market stakeholders have always been proactively reviewing the market to effectively manage and mitigate market risk and to ensure a fair & orderly market at all times.

“Each individual broker can implement risk management measures that are best suited to the broker’s financial strength and risk appetite,” it said.

Last Friday (Aug 14), securities of rubber glove manufacturers including Supermax Corp Bhd, Top Glove Corp Bhd, Kossan Rubber Industries Bhd and Hartalega Holdings Bhd closed down among Bursa Malaysia top decliners on speculation certain stockbroking firms are banning contra transactions involving glove manufacturers' shares.

i think we should all wear gloves like Tan Sri..... btw, he makes us rich..... also the new normal for cov19.....

Topglove egm.....

yttihs, 10:46 AM
Here's the summary of some interesting questions from the EGM

Aug to Sept - ASP increased 20-40% depending on the type of gloves
TG allocating 30% for spot orders
Target to resolve CBP detention issue by the end of August
Expect to pay a final dividend which will be higher
Average TP from all the analyst is 31.13
Average PAT expectation from all analyst is 1.4b
Windfall tax was debated on Parliament yesterday. For now there is no intention to implement the windfall tax.

yttihs, 10:46 AM
Here's the summary of some interesting questions from the EGM

Aug to Sept - ASP increased 20-40% depending on the type of gloves
TG allocating 30% for spot orders
Target to resolve CBP detention issue by the end of August
Expect to pay a final dividend which will be higher
Average TP from all the analyst is 31.13
Average PAT expectation from all analyst is 1.4b
Windfall tax was debated on Parliament yesterday. For now there is no intention to implement the windfall tax.

Neither Top Glove nor MARGMA has been consulted about windfall tax
Adam Aziz
/
theedgemarkets.com

August 18, 2020 10:30 am +08


-A+A
Based on past practices, however, windfall tax would typically be imposed on commodity-related products or the natural resources segment, and not the manufacturing sector.

KUALA LUMPUR (Aug 18): Top Glove Corp Bhd said it has not been consulted by the government on implementation of windfall tax on glove makers' supernormal profits.

When contacted, its chairman Tan Sri Dr Lim Wee Chai stressed that any such practice will result in manufacturers migrating to elsewhere.

Lim told The Edge that neither the company nor the industry association has been engaged by the government about the matter.

Neither Top Glove nor MARGMA has been consulted about windfall tax
Adam Aziz
/
theedgemarkets.com

August 18, 2020 10:30 am +08


-A+A
Based on past practices, however, windfall tax would typically be imposed on commodity-related products or the natural resources segment, and not the manufacturing sector.

KUALA LUMPUR (Aug 18): Top Glove Corp Bhd said it has not been consulted by the government on implementation of windfall tax on glove makers' supernormal profits.

When contacted, its chairman Tan Sri Dr Lim Wee Chai stressed that any such practice will result in manufacturers migrating to elsewhere.

Lim told The Edge that neither the company nor the industry association has been engaged by the government about the matter.

Coronavirus Cases: 22,048,933
Worldometer

Coronavirus Cases: 22,048,933
Worldometer

US is entering in Fall in 1.5 weeks with cases still around 50K to 60K daily...... This is something everyone is worried about...... When Winter comes, they predict it could hit 100K cases of cov19 per day......

US is entering in Fall in 1.5 weeks with cases still around 50K to 60K daily...... This is something everyone is worried about...... When Winter comes, they predict it could hit 100K cases of cov19 per day......

The IBs are saying where can you invest other than GLOVES!!!!!!!!

Glove stocks tumble, is it opportune time for bargain hunting?
Wong Ee Lin
/
theedgemarkets.com

August 18, 2020 10:00 am +08

KUALA LUMPUR (Aug 18): The fierce selldown in glove stocks did not ease yesterday, pulling them further away from the all-time highs that they hit earlier this month.

The seven glove counters on Bursa have slid more than 20% from their peaks (see chart) since the news flow on the sector turned negative.


The glove bulls were spooked by news that vaccines for Covid-19 would be available for mass production in months. Besides Russia, China is another country that has revealed its success in developing a Covid-19 vaccine.

According to Reuters, China's state-owned newspaper People's Daily reported that China's vaccine specialist CanSino Biologics Inc has won a patent approval from Beijing for its Covid-19 vaccine candidate Ad5-nCOV. It is the first Covid-19 vaccine patent granted by China.

On the home front, adding fuel to the selling is the renewed speculation of the government mulling over a windfall tax on the glove makers.

Nonetheless, the big drop in share prices has prompted some who have missed the boat to wonder if it is an opportune time for bargain hunting.

A foreign fund manager commented that a fair question to ask oneself is which other sector would offer great earnings growth in the next two to three quarters in current economic conditions.

"Even if a vaccine is successfully developed, it does not mean it would be available to the public immediately. Furthermore, there is already a change in lifestyle, rubber glove usage has become part of our daily life. In short, the demand will remain, although it may weaken,” said the fund manager, who viewed that the selling on the glove counters has been overdone.

The heavy selldown has erased a total of RM52.85 billion worth of market capitalisation from the seven glove counters, of which RM49.2 billion was wiped out among the big four glove counters, namely Top Glove Corp Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd and Kossan Rubber Industries Bhd.

Philip Capital Sdn Bhd chief investment officer Ang Kok Heng said "it all depends on the individuals if they believe in the glove story".

"For the time being, the average selling price is still strong. So, I think the glove story is not over yet. But what matters now is how long will this glove story last… things are still hazy and we still don't know where the end of the road is or where the cliff is," he said.

He concurred that the availability of the vaccine has posed downside risks. "The vaccine may, in a big way, disrupt the demand [for rubber gloves] eventually," said Ang. By the same token, he pointed out that the bigger challenge would be the side effects of the vaccine.

Maybank IB Research said the juxtaposition of supernormal profits being generated by the glove sector and the government's extremely challenging fiscal outlook is raising the risk of windfall taxes being imposed on glove manufacturers.

Maybank IB estimated that a 10-percentage-point increase in corporate tax rate to 34% applied to the three glove stocks under coverage — Top Glove, Hartalega and Kossan — would raise an average of RM1 billion per annum for the government over three years from 2020 to 2022.

"Given these three stocks are 70% of the domestic glove sector's capacity, extrapolating to the whole sector would increase average tax revenue take for the government from the windfall levy to RM1.4 billion per annum (peaking in 2021 at about RM2.2 billion)," Maybank IB analyst Anand Pathmakanthan wrote.

However, Top Glove's chairman Tan Sri Dr Lim Wee Chai told The Edge that neither the company nor Malaysian Rubber Glove Manufacturers Association has been consulted about the windfall tax.
18/08/2020 10:15 AM

Glove stocks tumble, is it opportune time for bargain hunting?
Wong Ee Lin
/
theedgemarkets.com

August 18, 2020 10:00 am +08

KUALA LUMPUR (Aug 18): The fierce selldown in glove stocks did not ease yesterday, pulling them further away from the all-time highs that they hit earlier this month.

The seven glove counters on Bursa have slid more than 20% from their peaks (see chart) since the news flow on the sector turned negative.


The glove bulls were spooked by news that vaccines for Covid-19 would be available for mass production in months. Besides Russia, China is another country that has revealed its success in developing a Covid-19 vaccine.

According to Reuters, China's state-owned newspaper People's Daily reported that China's vaccine specialist CanSino Biologics Inc has won a patent approval from Beijing for its Covid-19 vaccine candidate Ad5-nCOV. It is the first Covid-19 vaccine patent granted by China.

On the home front, adding fuel to the selling is the renewed speculation of the government mulling over a windfall tax on the glove makers.

Nonetheless, the big drop in share prices has prompted some who have missed the boat to wonder if it is an opportune time for bargain hunting.

A foreign fund manager commented that a fair question to ask oneself is which other sector would offer great earnings growth in the next two to three quarters in current economic conditions.

"Even if a vaccine is successfully developed, it does not mean it would be available to the public immediately. Furthermore, there is already a change in lifestyle, rubber glove usage has become part of our daily life. In short, the demand will remain, although it may weaken,” said the fund manager, who viewed that the selling on the glove counters has been overdone.

The heavy selldown has erased a total of RM52.85 billion worth of market capitalisation from the seven glove counters, of which RM49.2 billion was wiped out among the big four glove counters, namely Top Glove Corp Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd and Kossan Rubber Industries Bhd.

Philip Capital Sdn Bhd chief investment officer Ang Kok Heng said "it all depends on the individuals if they believe in the glove story".

"For the time being, the average selling price is still strong. So, I think the glove story is not over yet. But what matters now is how long will this glove story last… things are still hazy and we still don't know where the end of the road is or where the cliff is," he said.

He concurred that the availability of the vaccine has posed downside risks. "The vaccine may, in a big way, disrupt the demand [for rubber gloves] eventually," said Ang. By the same token, he pointed out that the bigger challenge would be the side effects of the vaccine.

Maybank IB Research said the juxtaposition of supernormal profits being generated by the glove sector and the government's extremely challenging fiscal outlook is raising the risk of windfall taxes being imposed on glove manufacturers.

Maybank IB estimated that a 10-percentage-point increase in corporate tax rate to 34% applied to the three glove stocks under coverage — Top Glove, Hartalega and Kossan — would raise an average of RM1 billion per annum for the government over three years from 2020 to 2022.

"Given these three stocks are 70% of the domestic glove sector's capacity, extrapolating to the whole sector would increase average tax revenue take for the government from the windfall levy to RM1.4 billion per annum (peaking in 2021 at about RM2.2 billion)," Maybank IB analyst Anand Pathmakanthan wrote.

However, Top Glove's chairman Tan Sri Dr Lim Wee Chai told The Edge that neither the company nor Malaysian Rubber Glove Manufacturers Association has been consulted about the windfall tax.
18/08/2020 10:15 AM

The IBs are saying where can you invest other than GLOVES!!!!!!!!

Glove stocks tumble, is it opportune time for bargain hunting?
Wong Ee Lin
/
theedgemarkets.com

August 18, 2020 10:00 am +08

KUALA LUMPUR (Aug 18): The fierce selldown in glove stocks did not ease yesterday, pulling them further away from the all-time highs that they hit earlier this month.

The seven glove counters on Bursa have slid more than 20% from their peaks (see chart) since the news flow on the sector turned negative.


The glove bulls were spooked by news that vaccines for Covid-19 would be available for mass production in months. Besides Russia, China is another country that has revealed its success in developing a Covid-19 vaccine.

According to Reuters, China's state-owned newspaper People's Daily reported that China's vaccine specialist CanSino Biologics Inc has won a patent approval from Beijing for its Covid-19 vaccine candidate Ad5-nCOV. It is the first Covid-19 vaccine patent granted by China.

On the home front, adding fuel to the selling is the renewed speculation of the government mulling over a windfall tax on the glove makers.

Nonetheless, the big drop in share prices has prompted some who have missed the boat to wonder if it is an opportune time for bargain hunting.

A foreign fund manager commented that a fair question to ask oneself is which other sector would offer great earnings growth in the next two to three quarters in current economic conditions.

"Even if a vaccine is successfully developed, it does not mean it would be available to the public immediately. Furthermore, there is already a change in lifestyle, rubber glove usage has become part of our daily life. In short, the demand will remain, although it may weaken,” said the fund manager, who viewed that the selling on the glove counters has been overdone.

The heavy selldown has erased a total of RM52.85 billion worth of market capitalisation from the seven glove counters, of which RM49.2 billion was wiped out among the big four glove counters, namely Top Glove Corp Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd and Kossan Rubber Industries Bhd.

Philip Capital Sdn Bhd chief investment officer Ang Kok Heng said "it all depends on the individuals if they believe in the glove story".

"For the time being, the average selling price is still strong. So, I think the glove story is not over yet. But what matters now is how long will this glove story last… things are still hazy and we still don't know where the end of the road is or where the cliff is," he said.

He concurred that the availability of the vaccine has posed downside risks. "The vaccine may, in a big way, disrupt the demand [for rubber gloves] eventually," said Ang. By the same token, he pointed out that the bigger challenge would be the side effects of the vaccine.

Maybank IB Research said the juxtaposition of supernormal profits being generated by the glove sector and the government's extremely challenging fiscal outlook is raising the risk of windfall taxes being imposed on glove manufacturers.

Maybank IB estimated that a 10-percentage-point increase in corporate tax rate to 34% applied to the three glove stocks under coverage — Top Glove, Hartalega and Kossan — would raise an average of RM1 billion per annum for the government over three years from 2020 to 2022.

"Given these three stocks are 70% of the domestic glove sector's capacity, extrapolating to the whole sector would increase average tax revenue take for the government from the windfall levy to RM1.4 billion per annum (peaking in 2021 at about RM2.2 billion)," Maybank IB analyst Anand Pathmakanthan wrote.

However, Top Glove's chairman Tan Sri Dr Lim Wee Chai told The Edge that neither the company nor Malaysian Rubber Glove Manufacturers Association has been consulted about the windfall tax.

Cov 19 will be with us for a long long time....... sad to say....

More similar cases in China......

Vaccine usefeul????????? Or just for political gain and calming people?????

Philiphine minister tested positive after recovery..... thesundaily.com

Those who sell glove shares must think twice..... if you never own it its ok...... but if you have owned it and dumped it, then it shoots up, whole life you will regret.......

More similar cases in China......

Vaccine usefeul????????? Or just for political gain and calming people?????

Philiphine minister tested positive after recovery..... thesundaily.com

but no manipulation by IBs......

fundamentally glove is ok....

look at mercator..... poland glove maker..... went up 3000%+...... price stable.....

@yttihs please add me to the group thanks.

NST - AxiCorp chief global market strategist Stephen Innes said it was amazing to see the robust trading activities driven by retail participation.

Innes said this was because people had been trained to think that "retail losses and Wall street wins".

"But I think we often underestimate how smart the 'average Joe' is and what they are loading up looks to be relatively safe loading up on technology and healthcare stuff," he added.

Innes said with Covid-19 lingering, people were in the eighth-inning of profit-taking/a smaller correction than a nascent rotation, value cyclical moves.

"However, I fear the new group of so-called Malaysian pajama traders might jump into stocks like AirAsia (Group Bhd) before contrails start showing up in the sky and we get walloped by a secondary Covid-19 spreader that could topple the stock in half and given the overextended margin positions offered at many brokers they could lose all their money," he added.

https://www.nst.com.my/business/2020/08/617177/worst-oversay-economist...

We are in the right boat...... GLOVES.....

NST - AxiCorp chief global market strategist Stephen Innes said it was amazing to see the robust trading activities driven by retail participation.

Innes said this was because people had been trained to think that "retail losses and Wall street wins".

"But I think we often underestimate how smart the 'average Joe' is and what they are loading up looks to be relatively safe loading up on technology and healthcare stuff," he added.

Innes said with Covid-19 lingering, people were in the eighth-inning of profit-taking/a smaller correction than a nascent rotation, value cyclical moves.

"However, I fear the new group of so-called Malaysian pajama traders might jump into stocks like AirAsia (Group Bhd) before contrails start showing up in the sky and we get walloped by a secondary Covid-19 spreader that could topple the stock in half and given the overextended margin positions offered at many brokers they could lose all their money," he added.

https://www.nst.com.my/business/2020/08/617177/worst-oversay-economists

Bloomberg - Malaysia has detected a strain of the new coronavirus that’s been found to be 10 times more infectious.

The mutation, earlier seen in other parts of the world and called D614G, was found in at least three of the 45 cases in a cluster that started from a restaurant owner returning from India and breaching his 14-day home quarantine. The man has since been sentenced to five months in prison and fined. The strain was also found in another cluster involving people returning from the Philippines.


Fauci Says New Mutation May Speed the Spread of Coronavirus

The strain could mean that existing studies on vaccines may be incomplete or ineffective against the mutation, said Director-General of Health Noor Hisham Abdullah.


The mutation has become the predominant variant in Europe and the U.S., with the World Health Organization saying there’s no evidence the strain leads to a more severe disease. A paper published in Cell Press said the mutation is unlikely to have a major impact on the efficacy of vaccines currently being developed.

“People need to be wary and take greater precautions because this strain has now been found in Malaysia,” Noor Hisham wrote in a Facebook post on Sunday. “The people’s cooperation is very needed so that we can together break the chain of infection from any mutation.”

Bloomberg - Malaysia has detected a strain of the new coronavirus that’s been found to be 10 times more infectious.

The mutation, earlier seen in other parts of the world and called D614G, was found in at least three of the 45 cases in a cluster that started from a restaurant owner returning from India and breaching his 14-day home quarantine. The man has since been sentenced to five months in prison and fined. The strain was also found in another cluster involving people returning from the Philippines.


Fauci Says New Mutation May Speed the Spread of Coronavirus

The strain could mean that existing studies on vaccines may be incomplete or ineffective against the mutation, said Director-General of Health Noor Hisham Abdullah.


The mutation has become the predominant variant in Europe and the U.S., with the World Health Organization saying there’s no evidence the strain leads to a more severe disease. A paper published in Cell Press said the mutation is unlikely to have a major impact on the efficacy of vaccines currently being developed.

“People need to be wary and take greater precautions because this strain has now been found in Malaysia,” Noor Hisham wrote in a Facebook post on Sunday. “The people’s cooperation is very needed so that we can together break the chain of infection from any mutation.”

its trending UP......

we support badminton..... we support football...... lets support GLOVES..... and also make money along the way......

Supermax coming GREEN

K+ GREEN........

when are we whole class?????? now...... malaysian gloves...... hope the government knows and comes out with full SUPPORT.......