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

Bryan, so you buy it then

PVTHSD92 I suppose you should sell

This is about a month or two late

investortrader88, Thanks. The shareholdings reported are sporadic with dates. Some are as of March 2019 and others as of April 6 2020. I too try to keep track but none are really up to date. Mine is from Shareinvestor

macgyver11, once holding are below 5%, company needn't report to Bursa.

KRISHNAN TATPARANANDAM ANANDA 34.834%
Permodalan Nasional Bhd. 13.004%
Karisma Mesra Sdn. Bhd. 4.018%
The Vanguard Group, Inc. 2.092%
Norges Bank Investment Management 1.913%
Employees Provident Fund 1.816%
Wijaya Sinar Sdn. Bhd. 1.339%
Dimensional Fund Advisors LP 1.324%
APG Asset Management NV 1.179%
TAN YU WEI 1.055%
Urusharta Jamaah Sdn. Bhd. 0.884%
Wijaya Baiduri Sdn. Bhd. 0.765%
Hong Leong Asset Management Bhd. 0.622%
CHRISTENSON GARY NEAL 0.594%
Maybank Asset Management Sdn. Bhd. 0.504%
LICHOTA ROBERT 0.355%
OOI CHIN HOCK /BUMI/ 0.349%
ABN AMRO Investment Solutions SA 0.341%
SAW CHAI SOON 0.340%
TAN YU YEH /BUMI/ 0.332%

Hi investortrader 88, the top 20 shareholder list you kindly shared. Would you happen to know as of when ie date? Thank you

Imagine demand for gloves has increased by an enormous 50%,while supply is limited to an only 20% increase and this quick squeeze cannot be-rectified overnight but only incrementally resulting in hand over fist rush for gloves with increasing ASPs. In the west its politically sensitive and heads may roll for failing to manage this health emergency, cost becomes an afterthought.

Top Glove has declared its rationing supplies to client ( customer isn't king ). Hospitals were in just in time mode for supplies before the pandemic but post it the UK and the US are stockpiling. This has compounded and expect a prolonged demand till and after vaccine is found.

Testing and tracing etc, Africa at cross road with the pandemic, a return of the virus in the fall in the west ..unabated demand. Plays right into the hands of PPE companies. It might remake companies. A supercycle

Its worth more that 25 sen but then again time will tell. I have bought plenty.

gnath@77 sage advice mate

This is an ATM for the major shareholders

Choivo Capital has made a valiant effort and credit to him for putting it out. Critical are his assumptions and that is subjective and only time will bear it out. A brave effort nevertheless

last time it happened it took 8 months to get Comfort's name off the list

Hartalega's net profit margin is in excess of 15 % and and its new plant/s is the size of one Careplus glove output.

Most of the other glove counters are in expansion mode and hence higher PE. For now Careplus' net profit margin averages less than 5% over the last 5 years ( excluding the last which was a loss) and no mention of expansion plans. Rubberex margins are equally as poor on average but it has in place an expansion plan.Comfort's is about 8% averaged over 5 years and with an expansion plan ( seasoned mgmt). This is just a quick sketch on why the others are taking off and Careplus for now remains rangebound. Price is based on a discounting mechanism.

Perhaps this quarter and next would be an inflection point but we will have to wait and see how it pans out.The Brazil situation should favour it. In a nutshell it is not firing on all cylinders but it has latent potential if mgmt get it right with operations.

Hi poseidon80, there is so much conjecture but RHB reckons the ePLKS may be retendered.

But noticing how much Wong has bought today has given me some confidence things aren't as bad as RHB's opinion

Good

“It is worth noting that the incumbent has been given a month’s extension on the online renewal of temporary employment pass for foreign workers (ePLKS), prompting the market to speculate that the lucrative contract could be up for tender soon.”

RHB's analyst

Totally concur