Topglove pulled off shelves from NZ largest supermarket chain

labour issues as usual

Topglove pulled off shelves from NZ largest supermarket chain

a possibilty could be it being out of MSCI index ( May 2020) and foreign funds that are index linked are moving out

Goldberg has it right.

would take all this with a huge dollop of salt

these journalists are also in the game...happens in the UK as well so nothing new

Wonder how this came about..

Immigration system to be awarded in Aug – here are 6 frontrunners
By Emmanuel Samarathisa | 2 hours ago | Featured, Mainstream

THE National Integrated Immigration System (NIIS) concession is expected to be awarded during the first week of Aug barring any last-minute changes, people familiar with the matter tell FocusM.

But concerns of political interference loom over the border security control project.

At RM1.2 bil, NIIS is possibly the largest public project this year. It is also highly complicated, requiring different modules as to the monitoring of foreigners in and out of the country.

To be sure, this is a steep discount to the initial RM3.5 bil price tag for NIIS’ predecessor, Sistem Kawalan Imigresen Nasional (SKIN), which was directly awarded to Prestariang Bhd.

SKIN would be cancelled under the Pakatan Harapan government as part of its review of mega-projects. Prime Minister Muhyiddin Yassin was then home minister and he called for a request for proposal (RFP).

But intense lobbying from certain participants, with some even pledging a portion of their annual revenue, as well as political pressure have been some of the issues insiders have raised as the race to bag the lucrative concession heats up.

“All we want is for the tender to be awarded to the company that scored the best in both financial and technical evaluations,” a source said.

If politics takes centre stage, Malaysians will witness more taxes wasted. The current Malaysian Integrated Immigration System (myIMMs) operated by listed company Heitech Padu Bhd, which also received the concession through direct negotiation, had been a drag to public coffers.

Close to RM600 mil had been spent on myIMMs since Heitech was awarded the project in 2010. The various Auditor-General’s Reports is a good reference on how unstable the programme is, leading to multiple incidents of sabotage and shutdowns.

Naturally, this means the Immigration Department could not account for the hundreds of thousands of foreigners who have entered the country. According to the AG’s Report 2018 Series 3, myIMMs could not account for 198,479 foreigners who entered the country through various long-term immigration passes as at April this year.

Since not only taxpayers’ money but also national security is at stake, participating companies would have to ensure two things: there are no cost overruns and that the system is stable and functional.

Here are the profiles of the six NIIS frontrunners:

Dagang Net Technologies Sdn Bhd

As its name suggests, this is a wholly owned unit of listed company Dagang Nexchange Bhd. It was incorporated on Jan 18, 1989, with a paid-up capital of RM50.17 mil.

Dagang Net’s flagship is the National Single Window for Trade Facilitation (NSW), a public project of which it had been the concessionaire since 2009.

In a nutshell, the NSW is a platform that connects traders with the Customs Department and relevant agencies for import and export document processing.

Dagang Net recently received an extension of the contract for two years from Sept 1, 2019, to Aug 31, 2021.

Over its last five financial years, from 2014 to 2018, Dagang Net has been posting net profits of RM17.94 mil, RM20.61 mil, RM33.07 mil, RM32.09 mil, RM27.68 mil respectively.

Its directors are Samsul Husin, Osman Percy King Jones @ Abu Bakar, Abdul Khalil Abdullah, Mohamed Hazli Mohamed Hussain, and Md Saffi Nadzir.

Aside from Dagang Net, other DNex subsidiaries include DNex Solutions Sdn Bhd, a system integrator that has implemented projects worth RM2 bil for the Ministry of Education.

Also, Innovation Associates Consulting Sdn Bhd (IAC) which is the concessionaire of the Government Financial Management and Accounting System (GF-MAS). It’ is understood that IAC also threw a bid for the NIIS.

Mindmatics Sdn Bhd

A closely held corporation, Mindmatics brands itself a “boutique information technology house.” It was incorporated in 2001 with a paid-up capital of RM5 mil.

The company has been posting profits over the last five financial years (2012-2017) of RM35,055, RM656, 351, RM537,297, RM7.89 mil and RM30.33 mil respectively.

According to company filings, the company’s directors are Abdul Wahab Sulaiman and Asfazura Mohd Dhany. Both are 50:50 shareholders.

Mindmatics’ core businesses revolve around providing integrated IT solutions across different segments such as command centre management and cybersecurity.

Infomina Sdn Bhd

Infomina was incorporated on June 11, 2007, with a paid-up capital of RM5 mil. The company provides maintenance and support services for various IT segments.

On Infomina’s official website, among the services the company provides are surveillance, perimeter detection and green energy.

The company has been posting a net profit across its latest five financial years, from 2015 to 2019, of RM377,803, RM284,915, RM804,315, RM1.14 mil and RM3.6 mil respectively.

Infomina’s directors are Mohd Hoshairy Alias, Nasimah Mohd Zain, Lim Leong Ping @

Prior to Ansell getting in Careplus(M) was a loss making concern through the years. It only produced 1.2 billion gloves. Now with a JV it should increase contributions. Ansell are with the big boys with big ideas. Earnings next qtr to increase substantially with higher ASP.

Quick back of the envelope calculation.

This past qtr eps about 4 sen. By beginning 2021 production of 6 billion gloves and end 2021 production of 8 billion gloves. Let us step back and say only 50% increase recognised by beginning of 2021( quite conservative) and ignore the balance 2 billion by end of 2021.

So 50% increase makes it 6sen per qtr by end 2021 or 24 sen per annum. On a 2021 basis with a further low PE of 18 gives us RM4.32 or thereabouts. Midpoint would be RM3.4 for those who are squirmish on valuation.

Again we maintained April to June ASP. At RM 2.46 it seems a steal. Note these are only broad numbers that bring out the value of Careplus.

Why was it sold down on Friday...that is my only caveat. Was it overall market sentiment?

Yes super diligent

Capacity expansion. We expect Comfort Gloves to add six production
lines in FY21. Upon completion, its production capacity will increase by 14% to 5.9bn pieces pa (ppa)...& CAREPLUS 8 billion with improved margins

Careplus' growth is explosive. By end 2021 it would have doubled its output

Virust . This is a Careplus forum.If you think KPJ is a buy you should perhaps buy more of it

for a so called major announcement this is a very weak pullback..expect higher prices soon

lol

and dont hold your breath

And all the newbies ( those with less than 5 years in the market) would proffer up advice (with good intentions) as if they knew it all and more. Best undertake DCF and have probability weighting/ expected values.

Rarely do Malaysian govt projects ever deliver on time...a foot dragging bureaucracy. It would be this or that or even senior civil servants on leave /holiday and Putra Jaya's procrastination and then it would be the election and then some other crap. Nothing ever is urgent with tax payers money.

with the surge in demand and price its margin should be past 5% and if not wow there must be something fundamentally weak in its operations as it produces as many gloves as Comfort and yet sells for less than half its price

Will wait to see qtr and if unsatisfactory with poor margin will need to let it go. Ansell or not.

Comfort and Careplus as a comparison... the former rises more and falls less..Wonder what the issue is with Careplus.

humoungous sellers

The weekend Edge has covered Notion on its mask production

thanks kobethebeagle. Ramunia comes to mind in 2008/9 with these clowns making predictions and it all came to nought. Been in this game long before I can remember with UE Singapore and Plus formation ... always with a pinch salt and but appreciate your advice as offered in the right spirit

I wonder how reliable these Focus articles as it seems to issue weekly updates

Article. from Focus

A consortium between MyEG Services Bhd, HeiTech Padu Bhd and S5 Systems Sdn Bhd is among the frontrunners for the National Integrated Immigration System (NIIS).

This is an RM1.5 bil project expected to be awarded during the third quarter of this year. The contract is for a total of 4.5 years including three years of development, six months of monitoring and a final year of maintenance.

After that, there is another maintenance contract which would be around 15%-20% of the value of the project.

Names have been bandied about. The usual suspects include listed companies Datasonic Group Bhd, Iris Corp Bhd and Scicom (MSC) Bhd. But it is the MyEG-HeiTech Padu-S5 Systems consortium that has been gaining some traction of late.

The most obvious link between the three companies is entrepreneur Wong Thean Soon, who owns MyEG which in turn plans to acquire a 10% stake in S5 Holdings Inc, the holding company of S5 Systems.

MyEG is expected to fork out RM90 mil, of which RM75 mil is in cold hard cash, while the remainder will be in MyEG shares.

Wong owns about 20% of MyEG directly and also through his vehicle, Asia Internet Holdings Sdn Bhd, which sits on a 37.6% stake.

But Wong also has a presence in HeiTech Padu through Asia Internet with a substantial 10.4% in HeiTech Padu, according to the latter’s 2019 annual report.

The other owner of Asia Internet is MyEG executive chairman Norraesah Mohamad. She was also an Umno supreme council member from 2000 to 2013.

And, HeiTech Padu has links to S5. One of its shareholders is AIX Shares Sdn Bhd which owns a meagre 0.79%, according to its annual report. AIX is wholly owned by offshore entity Merrington Assets Ltd.

Merrington owns a substantial stake in S5 Holdings and is the party that is being engaged by MyEG in the latter’s bid to acquire the 10% stake owned by Merrington in S5.

According to a Bursa filing dated June 30, the company Merrington had nominated is none other than AIX Shares.

Incorporated on July 5, 2019, AIX Shares has a sole director, Ng Hong Sing, who was among a string of individuals, together with Wong, involved in the alleged manipulation of MyEG shares between Jan 16, 2007, and April 24, 2007.

Wong entered into a settlement with the Securities Commission Malaysia in the sum of RM7 mil when he agreed without admission or denial of liability to settle the claim.

Other key shareholders of HeiTech Padu include Permodalan Nasional Bhd (PNB) which owns a 6.96% stake as well as Padujade Corp Sdn Bhd with a 24.85% stake.

Padujade has a string of shareholders including Perbadanan Usahawan Nasional Bhd (PUNB) with a 4.95% stake.

PNB and PUNB are wholly owned by Yayasan Pelaburan Bumiputra (YPB), whose chairman is Prime Minister Muhyiddin Yassin. Meanwhile, Tanjong Karang MP and Umno strongman Noh Omar is expected to helm PUNB.

Technically, the MyEG-HeiTech Padu-S5 Systems consortium presents itself as a strong front. MyEG itself received a three-year extension yesterday from the government to provide the online service for the foreign worker temporary employment pass which is worth an estimated RM208 mil.

But HeiTech Padu has a troubled past with its handling of the NIIS’ predecessor, the Malaysia Immigration System (MyIMMS).

HeiTech Padu was appointed by the Ministry of Finance, then headed by Najib Razak when he double hatted as prime minister, on Nov 1, 2010, through direct negotiation.

The Auditor General’s Reports 2015 and 2018 highlighted issues with the MyIMMS, including “losses in government revenue” in the latter report. The Malaysian Anti-Corruption Commission and the Home Ministry were looking into the issues.

But the flashpoint was in May 2016 when an insider syndicate in the Immigration Department was busted for sabotaging the MyIMMS after it successfully siphoned off RM1 bil.

Heitech Padu came out to defend itself that year after being criticised for putting out a shoddy product. The company denied that MyIMMS had been compromised but admitted that the system is susceptible to power outages and internet service disruptions.

But Heitech Padu also believed it was made the scapegoat for a structural problem much bigger than itself: poor overall system integration as many databases were developed and maintained by various vendors.

This led the Najib government to announce an overhaul of MyIMMS, hence the NIIS. Whether the NIIS can be successfully executed is another question that is worth raising given the many vested interests in the project.

Also, there is an element of mystery with S5, as its major shareholder NSA Technology is owned by an offshore or overseas entity NSA Technology (L) Inc.

But its sole director is Syed Mohammad Hafiz, who is from the Perlis royal family. His father, Syed Razlan Syed Putra Jamalullail, is the younger brother of Raja Perlis Tuanku Syed Sirajuddin Putra Jamalullail.

Syed Razlan himself was also former Arau MP, and he had joined Bersatu from Umno on July 15, 2018. – July 2, 2020

I would be pleasantly surprised if contract is awarded so soon as we are dealing with foot dragging bureaucracy

price propped

Iris has just about RM85 million in cash and RM50 million in borrowings, payables RM200mil and receivables RM150 mil. This is not a terribly desperate situation and if it places shares out at an incredibly low 12 sen ( for a paltry RM36mil) it would be patently silly. For now PBT margin is pathetic but despite its lacklustre performance ( and with fix deposit paying peanuts) it could probably better deploy its cash horde to shore up business and perhaps with the passage of time and improved performance place out shares at a higher price. I am quite sure there is more to this story.

world markets a bit shaky amidst virus

compressed multiples

stock will fall in sympathy

or idiot Trump

buy and price it for the future . my concern is the politics may mess it up.

this Edge write up is a week old..that is a long time in the stock market

keep hoping

joke

syndicate?

game over WRP RTO lol

Hey guys , the story has only just begun. 49% of Brazi business taken back in Feb and Ansell's completed only in May. Result were up to March and MCO began March 18.
Brazil now is at the eipcentre of covid.

This was a broken model being resurrected and rapidly so with covid. With the transformation there is only upside. ASPs direct to bottom line.

r88 has been spot on well done

http://www.intellecpoint.com/ Felictiy has challenged some of Choivo's assumptions.

Thanks Felicity for your rebuttal. Both yourself and Choivo are a credit to the local investment community

great. i think you should buy more of RGT

Strategic stockpile of critical PPE supplies will grow multifold to address any such eventualities in the future, ensuring steady demand in the next 18-24 months

The above is just for gloves

Frost and Sullivan
IMPACT OF COVID-19 ON DEMAND FOR PPE IN THE
HEALTHCARE INDUSTRY
Growth Opportunities in an Era of Change

Demand Growth Index 2019-100, 2020-150, 2021/22-200