Not sure why the selling.. It has no volumes for the past few months until recently. A rm100k was enough to move the price up easily by 5% at least then.
Guess those who bought at the high would have already cut their holding by now.
Although in cimb's report, it was mentioned that the mask contribution to its revenue is only 1pc which is negligible (on what basis? Internal info? ). They also did not point out on other non woven healthcare contributions to the group; which is ~ 60pc.
Lastly, from technical aspects - the price gap on 28jan was almost covered, buying interests emerged near the low earlier - the weighted average price from 28jan till today is at about 68c. It might not mean anything to many, but some ppl will use it to gauge where the approximate cost of most players is. - the bullish macd and rsi took weeks to form, not sure why they want to ruin it so soon but if that is not the intention a hammer candle should form later(see weekly chart)
P/s: there were calls to not to chase high and sell.. So, please do ur own due diligence.
Hmmm... who was in this forum when the price was about 0.400 sen. Not many. The price was a laggards and a disappointment. Now I am glad this forum is active again. Anyway, happy 1st year anniversary klse mainboard to Oceancash. I shall post news and moves in the makings soon.
Don’t need to be panic , Oceancash is only up 50%( if 60-64 cents) from December average price of 42-43 cents n the Wuhan coronavirus still far from its peak n being solved ... The point need to be discussed should be how many percentage of Oceancash revenue from mask n material for masks n target price should be higher than 60-65 cents for this serious outbreak....
mask definitely in higher demand than gloves.... but the question is wheteher those 'mask' related player in Bursa really dominate the market at reasonable profit margin?
"From what I have heard, the mask shortage is much, much more severe than what the public knows," said Cao Jun, general manager of mask manufacturer Lanhine, which has a factory in east China's Ningbo city.
"Almost all hospital workers nationwide are facing a huge shortage of masks, not just in Wuhan. That's very terrible."
Cao said the firm's clients are demanding a combined 200 million masks per day compared to its normal production rate of 400,000 a day.
"At the moment, we have 20-plus people in the factory, working 24 hours. We're offering them quadruple their wages per day," Cao told Reuters. "We aim to ramp up output on Jan. 27 and be at full capacity on Feb. 1, when we’d have nearly 200 workers."
Another manufacturer, CMmask, in eastern China's Jiande city, told Reuters it was offering workers triple their wages if they came back.
"Our factory is out of stock now, but we have extended our working hours by four hours to 8 a.m. to 9 p.m," said Hu Qinghui, CMmask's deputy general manager.
ONW Despite the drop in financial performance in 2018, ONW’s prospect in 2019 looks promising as the new investments to enhance its capabilities started to bear fruits. We have started supplying perforated nonwoven cloth to a local customer. Furthermore, our spooled roll nonwoven cloth is in the trial run process in China. Spooled roll nonwoven cloth is the trend for the local, China and India hygiene market. Meanwhile, we have secured a customer in Eastern Europe and are in the process of developing additional new nonwoven cloth for them. With the enhanced capabilities in place, ONW is in a position to meet the demands and new trend in nonwoven cloth. We foresee hygiene division sales to pick up in the second half of 2019.
Since year 2000, the worldwide been exposed to flu-like pandemic. It all started from animals & transmitted to human
Government need to come out with new strategies to overcome 1. shortage of masks 2. more alcohol sanitary available in public and hospitals 3. provide long term mask and gloves to public so that everyone can apply it during pandemic outbreak. 4. Education on public health in schools and workplace. 5. what to eat and what not to eat food
Condom can provide but how come mask and gloves no provide for free?
China people need to stop eating exotic animals. Please come out with the new regulations and impose huge penalty for illegal hunting and EATING of these animals!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Cloudboy
456 posts
Posted by Cloudboy > 2020-01-30 12:29 | Report Abuse
Only 1% of the total revenue is for face mask...trade with care