The worsening pandemic that brought on new restrictions overshadowed positive developments on the coronavirus vaccine front.
Stocks turned sharply lower after Mayor Bill de Blasio announced New York City’s public schools will move to remote learning only as the city tries to tamp down a growing number of coronavirus cases.
The U.S. is grappling with rising Covid-19 infections ahead of a likely tough winter. The country is recording roughly 157,000 new coronavirus cases per day, on average, as of Tuesday, according to a CNBC analysis of Johns Hopkins data. That’s another new record and nearly 30% higher than infection levels a week ago.
1/4 of Topglove workers under ECMO, means supply of Topglove gloves drop by 1/4. this is good for other glove manufacturers like Kossan, Supermax, Hartalega
The Employees Provident Fund (EPF) has emerged as the substantial shareholder of Hartalega Holdings Bhd, after buying 174.32 million shares or 5.09% stake in the rubber glove maker company.In the glove maker’s filing with the local bourse, it said the block was purchased by EPF on Nov 17 (Tuesday). However, the transacted price was not disclosed in the filing. Hartalega shares price closed at RM14.64 that day. Based on the closing price, the block of shares is valued at RM2.55 billion.The provident fund bought more shares recently to take advantage of the recent share price weakness due to the positive on the Covid-19 vaccine development. According to filings, the EPF ceased to be a substantial shareholder in Hartalega on Jan 23 this year, after it disposed of 4.1 million shares.The strong global demands for disposable gloves lifted Hartalega's net profit to a record high of RM544.96 million in the second quarter ended Sept 30, 2020 (2QFY2021), which is about five times more than RM103.87 million recorded a year ago. Its quarterly revenue jumped almost 90% to RM1.35 billion, from RM709.42 million in 2QFY2020. The share price of Hartalega, the world’s largest nitrile glove maker, gained 30 sen or 2.13% to end the week at RM14.40, as glove bulls hunted for bargains after a recent selldown. At current price, Hartalega has a market capitalisation of RM49.36 billion.The stock has rallied 163% from RM5.48 on Dec 31, 2019.
EPF straightaway sapu 174 mils share (almost 5 %) in one day !! We have big boss Kuan (support at 12), EPF (support at 14) ... give me one f*cking good reason, this is not a solid sleep-well glove company for you to invest long term !! BY end 2021, TP will be 40 at least ! !!
The implications from this latest development is 1/4 of Topglove workers for this factory is under ECMO. It means the supply of Topglove gloves may drop by 1/4 from this factory. Gloves has many factories. This is an opportunity for her siblings... other glove manufacturers like Kossan, Supermax, Hartalega to regain position..
Lately EPF has been collecting all these Fantastic Four Gloves shares when it retrace due to many bad news.
As a shareholders we need to understand why we are buying these Gloves shares?
First no one predict correctly when the pandemic will end as per earlier posting. The fact still remains that these companies that we own produces one of the most sought after product in battling this pandemic. Its the World's Best. Even China is not even close to these Fantastic Four. They all are paying premium taxes to our government plus additional 500 million donations to help Budget 2021. So it's a very good sector to be in.
So the next question you may ask is when to sell?
When people stop wearing masks, you don't need temperature taken before going into malls. When temperature reader is taken off at the airport.
That's when you can start selling some of your holdings. With or without vaccine or Convid 19, Gloves will always be in demand by the Health Industry..
Don't time the market. Research has shown that 90 % of the traders lose money. Only sell when Gloves is on the break out. Every stocks has a life cycle, so is Gloves despite having a very strong fundamentals . Gloves will peak next year. Trade if you must to cut your losses or take profits but don't sell all..
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....
NPRA1985
3,415 posts
Posted by NPRA1985 > 2020-11-19 01:44 | Report Abuse
@TitijayaMedical Titijaya is involved in distribution of medical and hospital equipment, not vaccines. Dont dream lolol
https://www.theedgemarkets.com/article/titijaya-teams-chinas-stateowned-healthcare-group-sinopharm-supply-ppes-test-kits