[KIV JP Morgan's Opinion] Citing the Centers for Disease Control and Prevention of the US, the National Health Service of the UK and the British Columbia Centre for Disease Control of Canada, the American bank said medical officers are not required to wear gloves while carrying out vaccination.
âGloves are needed only if the healthcare workers are likely to come into contact with body fluids or if there is an open wound. Guidelines also state that even after wearing gloves, constant sanitisation between each patient would be the best way to minimise the risk of disease transmission,â it wrote.
The selection shall comply with below requirement. - Any submission not follow the requirements will be ignored.
- Let's assume you will have 100k cash on your hand and you will have to buy and hold the stock pick by you for a duration of 1 year.
- Buy and Hold Period: 01-Jan-2021 - 31-Dec-2021
- Each participant have to choose for a minimal of 5 and max of 10 stocks or Company Warrant which is not expire before 31-Dec-2021 (no Call Warrant, Put warrant or any other Derivative) where the stock price have to more than RM0.10 on 31-Dec-2020 5:00pm
- Each participant cannot invest > 30% of capital on any single stock - Each selected company (include the mother stock and warrants) is limited to a maximum investment of RM 30,000
- Each participant have to invest 99% of the cash (a min of 99k investment) but not choose to keep the cash (anywhere this is a stock pick contest but not a cash keeping contest)
- The stock price shall follow the closing price of the stock on 31-Dec-2020.
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gloveharicut My rule: I am holding my GLOVES. I will only sell when ASP come down but not stock price come down.
Mr Tan,
If the glove ASP come down, can I sell my GLOVES in the portfolios? 13/01/2021 3:10 PM
Did AmInvest forget to include one full quarter in their profits estimate?
Second, the consensus PAT across all analysts for FY21 is approximately RM10.5 billion. This is based on consensus revenue of RM20.5 billion, i.e. net profit is estimated at 51% of revenue for the year. Note that in the post I linked to above, I derive the figures for revenue, but not for PAT, because a lot more assumptions need to be made to come to an estimated net profit figure. Thus, in this case the consensus PAT might be a good guide. Pay close attemption to this - AmInvest's revenue estimate is significantly higher than the consensus revenue estimate. However, their PAT estimate is significantly lower. There is no explanation as to why that is the case. In fact, they say exactly the opposite in their report when talking about rising raw material costs: " we believe glove makers will be able to pass on the price increase to buyers, thus keeping their margins safe." If the profit margins remain the same, then Q1 profits may be a good indicator for profits throughout this financial year (ending in August 2021). Coincidentally, net profits for Q1 (RM2.38 billion) are equal to 50% of revenue (RM4.76 billion).
Did AmInvest contradict their own assumptions or did they input wrong numbers?
To top all of this, the cherry on the cake is in the actual hold "call" summary:
"We forecast Top Gloveâs net profit at RM2.9bil, RM2.7bil and RM1.5bil for FY21â23F..."
I will just leave this here without any additional commentary.
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VenFx
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Posted by VenFx > 2021-01-01 23:26 | Report Abuse
Haha !
nice set of glove & vaccine list.