buy at wrong timing today... after announced on the litigation on wrongful dismissal and damages, caused the share price drop.. too bad that buy in the morning session and announcement in afternoon... should buy in the afternoon instead... or probably tomorrow..
ya, waiting for their quarterly result too... but from last quarter result, this company have plenty of cash... having cash in such economy is important & king... hope can break resistance too..
the quarterly result will be release in this month, since all gloves company is making profit, their mold maker's profit will be boost as well, and I believe TopGlove is getting more influencing power, their acquisition company will be consider as the next theme
-A company which produces ceramic formers subscribed by the glove industry throughout Malaysia.
-A cash rich company with net cash of RM25,277k cash in hand.
-There are rumours that big glove counter plans to buy over ESCERAM.
-Top Glove will be adding annual capacity totaling 7.8bil over the next 2 years; Hartalega plans to add annual capacity of 28.4 billion gloves, Kossan 22.0 billion gloves and Supermax 10.8 billion gloves.
-Looking at those billions and billions figures, these major expansion exercises will drive demand for ceramic hand formers, and ESCERAM is the only listed company who is doing the formers. These 4 giant glove counters might be ESCERAM's customers.
Yesterday, Top Glove held an analyst briefing to provide updates on its 1QFY16 results and outlook.
During analyst briefing ,its chairman Tan Sri Lim Wee Chai said that aside from growing organically, with a burgeoning war chest, the group remains active on the lookout for synergistic M&A opportunities.
We are looking at the glove sector, printing, packaging and chemical sectors, and even the glove mould sector.
Acquiring one to two companies a year is part of the group’s key performance indicators (KPI). YoY, its net cash position has almost doubled (+96.1% YoY) from RM186.7mn in 1QFY15 to RM366.1mn in 1QFY16. To reiterate, acquisitions can be up to RM1.0bn and ideal candidates include companies both locally and abroad.
The company has shortlisted three local companies for an M&A exercise, to be concluded within the company's financial year ending Nov 30, 2016 (FY16) in the glove-related sector and is looking to seal a deal by August this year.
Well, Esceramics are ceramics gloves, top glove more interested in Nitrile gloves though. but I am looking at Careplus and esceramics as maybe potential acquisition by top glove. Any thoughts? Today esceramics sure having the top volume and price increase after top glove announcement.
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
MQ Trader 804 views | 5 d ago
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
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....
Johnny Lee
17 posts
Posted by Johnny Lee > 2015-12-27 16:49 | Report Abuse
very good counter, if not wrong will over 0.600+ before new years