Posted by Siow Looi > 2023-08-07 17:11 | Report Abuse

Betul betul betul

Posted by myinvestor > 2023-08-09 09:07 | Report Abuse

https://apnews.com/article/covid-cases-hospitalizations-increasing-9a831de37210c53c1ee48a30ad2ee611
New subvariant omicron EG.1 , Eg.5 fast increasing US, UK, India, Singapore....

Posted by alenac > 2023-08-10 10:00 | Report Abuse

Quarter Result soon. More losses? Hartalega losses lead the way.

Posted by myinvestor > 2023-08-10 16:47 | Report Abuse

Supermx may break even this qtr. Kossan -3.3m, Harta -5m (actual 47m one time factory decommissioning cost).

Posted by Jack Khan > 2023-08-12 23:53 | Report Abuse

need wait another 5 years

Posted by myinvestor > 2023-08-16 17:45 | Report Abuse

https://www.reuters.com/world/what-is-eris-new-covid-variant-2023-08-14/
NEW YORK, Aug 14 (Reuters) - COVID infections and hospitalizations are on the rise in the U.S., Europe and Asia. Health officials are pointing at the EG.5 "Eris" coronavirus, a subvariant of the Omicron lineage that originally emerged November of 2021.

With fast increasing hospitalisation in US, Europe and Asia, the demand of gloves will also increasing for coming qtrs.

Posted by Dannyfyl88 > 2023-08-18 15:32 | Report Abuse

The glove market is Dead Dead Dead... Floating Face Down in the Backyard Pool.

Posted by Investor126 > 2023-08-24 15:18 | Report Abuse

Price stagnant for more than a month already. Coming QR again keeps moving lower.

Posted by SWT1988 > 2023-08-25 14:12 | Report Abuse

c how low it will go down this time

Posted by Ryan83 > 2023-08-25 16:40 | Report Abuse

Share price after bad quarterly result release will test support 70 sen

Posted by ChloeCheong > 2023-08-28 10:41 | Report Abuse

Its q4 is coming out soon, will the result better than q3?

Posted by JusinKarl > 2023-08-28 11:11 | Report Abuse

For sure, short term will touch 90

Posted by Likesung > 2023-08-28 20:12 | Report Abuse

Mana QR ?

Posted by ChloeCheong > 2023-08-29 17:15 | Report Abuse

QR will be out tonight

Posted by cwc1981 > 2023-08-29 19:10 | Report Abuse

Next quarter should be breakeven

Posted by EngineeringProfit > 2023-08-29 19:26 | Report Abuse

Can start to collect bit by bit lah. Else later cannot huat

Posted by Likesung > 2023-08-29 20:41 | Report Abuse

May I know why loss 7.1M not 30M, who knows study the qr ?

Posted by NatsukoMishima > 2023-08-29 23:50 | Report Abuse

Just buy property n construction stock related to Johor n keep , u will make huge gain later ! Continue bullish ! Iwcity !
Sell off rubbish glove stocks now buy iwcity to gain back lost money in glove ! Li kah seng mari !

Posted by Albukhary > 2023-08-30 00:18 | Report Abuse

@Likesung, the total losses at the group level is RM30mil, however, net loss attributable to supermax shareholder is only RM7.1mil, meaning RM22.9mil loss is belong to other party (minority shareholder).

You may wondering how come Minority shareholder absorbed more losses than Majority shareholder (Supermax), let me explain in simple example below:-

ABC Holding Berhad have 2 subsidiary:-

Subsidiary A is 100% owned.
Subsidiary B is 70% owned, and balance 30% belong to minority shareholder.

Company A made profit of RM50mil
Company B make losses of RM80mil

At group level, ABC Berhad is making losses of RM30mil.
However, if you calculate on in detail, ABC Berhad actually is making RM50mil profit from Subsidiary A, and RM56mil losses (70% x RM80mil losses), so actual losses attributable to ABC Berhad shareholder is RM6mil , not RM30mil, because the minority shareholder at Subsidiary B have to absorbed 30% of the RM80mil losses (i.e. RM24mil).

So back to Supermax, I believe this loss making subsidiary is the US/Canada subsidiary, as their operation have been affected by CBP.

Posted by Likesung > 2023-08-30 10:54 | Report Abuse

@Albukhary
Its very clear thanks for the explanation

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-08-30 10:55 | Report Abuse

The improved performance is mainly due to the factors as follows:
- Average selling prices (ASPs) have stabilised and have improved slightly.
- Increased capacity utilisation rate as demand has started to improve albeit moderately. The
significant overstocking built up as a result of over-buying during the pandemic has started to
deplete appreciably and some re-stocking is taking place again.
- Improving economies of scale as the capacity utilisation improves.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-08-30 10:59 | Report Abuse

Prospects
Glove Division
The rubber glove market remains lacklustre as the prevailing unfavourable demand-supply dynamic continues to re-balance itself post-pandemic. The over-supply situation is expected to moderate gradually as more and more of the smaller players exit the market. Some of the big players are also scaling back their expansion and retiring older factories and production lines. Nevertheless, average selling prices (ASPs) remain suppressed and a meaningful market recovery may only take place sometime late into year 2024.

At the present time, new contracts secured by the Supermax Group are at prevailing low prices and low margins. The Group does not expect to see a significant improvement in performance in the near to medium term owing to the high volume of high-priced stocks at its overseas distribution centres. For its manufacturing division, in preparing for better times ahead, Supermax has shut down 4 of its old plants over the last 1¾ years. Meanwhile, the plan to build 6 new modern and more efficient manufacturing blocks is still in place, with production lines being installed gradually at a pace that takes into account the current and expected market conditions.

The construction of the Group’s USA plant is also underway and is very much in response to the steps taken by an increasing number of countries including the US which are taking steps to re-shore or shore-up domestic production to ensure security of supply especially in times of crises.

The Company is also continuing to engage with the US CBP to demonstrate the huge strides made in improving its human resource policies and procedures including actively reaching out to all former workers for the purpose of remediation. The Group has thus far paid out a total of RM 41.2 million in remediation payments to existing and former workers.

As the Group refreshes more of its production capacity by replacing old lines with newer highcapacity high efficiency lines and at the same time maintaining its existing work force through redeployment to newer plants, expect to see Supermax continuing to put itself in a strong position to take advantage when the glove market regains its vibrancy sometime in the next 5 – 6 quarters.

Posted by NatsukoMishima > 2023-08-30 12:07 | Report Abuse

China intco will ramp up 200billion extra gloves to market in 2024 , u see the ASP will drop below USD 10 or not ?

Posted by ChloeCheong > 2023-08-30 12:37 | Report Abuse

Great. Net loss had been reduced a lot

Posted by NatsukoMishima > 2023-08-30 13:01 | Report Abuse

China intco will dominate the world glove market with ASP USD 10 or even lower in 2024 !

Posted by carele126 > 2023-08-30 14:07 | Report Abuse

market has bottomed

Posted by carele126 > 2023-08-30 14:07 | Report Abuse

only upside for glove pricing from here

Posted by carele126 > 2023-08-30 14:08 | Report Abuse

supermax specialized in specialty glove production, not as expose to the 3.5 gram medical grade glove as the market would have us believe.

Posted by alenac > 2023-08-31 18:18 | Report Abuse

KUALA LUMPUR (Aug 29): Glove maker Supermax Corp Bhd posted an annual net loss of RM149.45 million for its financial year ended June 30, 2023 (FY2023), against an annual net profit of RM718.91 million in FY2022, as earnings were weighed by lower sales and average selling price (ASP) for gloves, amid persistent oversupply in the market.

With the latest annual loss of RM149.45 million, it recorded a cumulative loss per share of 5.67 sen, as opposed to a cumulative earnings per share of 27.26 sen in FY2022 previously. Annual revenue was RM821.86 million, down 69.42% from RM2.69 billion previously, the group's filing with Bursa Malaysia showed.

It closed its FY2023 with a quarterly net loss of RM7.17 million for the fourth quarter ended June 30, 2023, marking the group’s third straight loss-making quarter — albeit with net loss narrowing from RM39.92 million in 3QFY2023 and RM108.07 million in 2QFY2023. It recorded a loss per share of 0.27 sen in 4QFY2023, as opposed to an earnings per share of 0.74 sen in 4QFY2022, when the group made a net profit of RM19.53 million.

Posted by EngineeringProfit > 2023-08-31 18:21 | Report Abuse

Superman still not ready to fly ah?

Posted by NatsukoMishima > 2023-09-01 10:10 | Report Abuse

Dnex ,vstec , ranhill , gtronic , iwcity all i recommended before they surge !

Posted by NatsukoMishima > 2023-09-01 10:11 | Report Abuse

Swift haulage also will surge later !

Posted by NatsukoMishima > 2023-09-01 10:33 | Report Abuse

Dont waste time at glove anymore , shift your capital to iwcity now to cover back losses in glove n make multifold gains ! Must act fast , gold will not wait for u !

Posted by ChloeCheong > 2023-09-01 12:12 | Report Abuse

Now its share price surpasses Tg. Superman power

Posted by alenac > 2023-09-01 14:52 | Report Abuse

Glove counters are not expected to recover until 2025 or another worldwide pandemic starts, whichever comes first.

As I always say, get Stanley to distribute all available cash as dividends. Consolidate its shares and moved on, later got no money call for rights. It will be the most tactful decision.

Posted by myinvestor > 2023-09-04 09:53 | Report Abuse

China and Us trade decoupling will sooner hit China PPE export to US .

Posted by ChloeCheong > 2023-09-04 11:44 | Report Abuse

Yup. US will buy more products from Malaysia 😄

Posted by myinvestor > 2023-09-04 14:43 | Report Abuse

The U.S. Department of Defense (DOD) issued an interim procurement rule, prohibiting the procurement of personal protective equipment (PPE) from four “non-allied” countries: China, North Korea, Russia, and Iran.
This interim rule revises the DFARS to implement section 802 of the National Defense Authorization Act (NDAA) for Fiscal Year (FY) 2022 (Pub. L. 117-81) (10 U.S.C. 2533e) and section 881 of the NDAA for FY 2023 (Pub. L. 117-263). Section 802 adds the restriction to 10 U.S.C. 2533e (transferred to 10 U.S.C. 4875) that limits the acquisition of “covered items” (personal protective equipment and certain other items) from any of the following “covered countries”: the Democratic People's Republic of North Korea, the People's Republic of China, the Russian Federation, and the Islamic Republic of Iran, subject to exceptions. “Covered item” is defined as an article or item of—

(1) Personal protective equipment for use in preventing spread of disease, such as by exposure to infected individuals or contamination or infection by infectious material including—

Nitrile and vinyl gloves;

Surgical masks;

Respirator masks and powered air purifying respirators and required filters;

Face shields and protective eyewear;

Surgical and isolation gowns and head and foot coverings; or

Clothing; and

The materials and components thereof, other than sensors, electronics, or other items added to and not normally associated with, such personal protective equipment or clothing; or

(2) Sanitizing and disinfecting wipes, testing swabs, gauze, and bandages

https://www.federalregister.gov/documents/2023/01/31/2023-01295/defense-federal-acquisition-regulation-supplement-restriction-on-acquisition-of-personal-protective

Posted by Investor126 > 2023-09-04 16:07 | Report Abuse

Looking forward to it's two years anniversary of WRO this October.
And the US' plant is another joke, aside of the private jet. Good luck to those still HODLing.

Posted by myinvestor > 2023-09-04 17:14 | Report Abuse

Us government had imposed restriction on China manufactured ppe import . Eu will follow suit to ban the import from China. ASP will raise if there is no competition from China manufactured ppe.

Posted by ChloeCheong > 2023-09-05 15:48 | Report Abuse

See If the ice between US and China will be melted a bit at this 2023 G20 submit this weekend or not

Posted by ChloeCheong > 2023-09-06 11:01 | Report Abuse

Heard that President Xi won't be attending G20 😅

Posted by myinvestor > 2023-09-06 11:30 | Report Abuse

last 2 days , Top glove shorties covered 100mil shares. A good sign gloves is back.

Posted by NatsukoMishima > 2023-09-07 10:08 | Report Abuse

See money take money loh otherwise dont know how many years will be trapped !

Posted by ChloeCheong > 2023-09-07 12:21 | Report Abuse

Kenanga is a reverse indicator for glove sector, ha

Posted by EngineeringProfit > 2023-09-07 13:09 | Report Abuse

SUPERMAn is my favourite

Posted by Go lucky Happy > 2023-09-07 15:43 | Report Abuse

Actually Supermax is better than Topglove because their cash in hand compare to their debt looks better.

Posted by EngineeringProfit > 2023-09-07 16:19 | Report Abuse

It's a bird?

Posted by EngineeringProfit > 2023-09-07 16:19 | Report Abuse

3.......2........

Posted by NatsukoMishima > 2023-09-07 19:04 | Report Abuse

https://www.orientaldaily.com.my/news/international/2023/09/07/594837

Read carefully all glove tards