Posted by Keyman188 > 2021-12-10 15:10 | Report Abuse

Amboi...you tak search back Keyman188 comments gehhh!!!...

NO wonder you always losser lahhh...



wkwkwk...kekeke...hehehe...





Posted by mita29 > Dec 10, 2021 2:26 PM | Report Abuse

hahahah keyman 188 still topping up kossan kah?

Posted by AdCool > 2021-12-10 15:11 | Report Abuse

you guys have been expecting a lot. Top Glove precovid quarterly profit around 100 mil - 110 mil. Mostly it would deliver consistent 130 mil - 150 mil per quarter as normalization. What so bad with the results then? If there s any bonus and ASP back to USD30, then Top Glove can deliver around 200 mil per quarter.

Posted by UncleFollower > 2021-12-10 15:11 | Report Abuse

Remember the video where tan sri blank face say next week can exceed maybank market cap..

Posted by smoking > 2021-12-10 15:12 | Report Abuse

RM1 coming................RM1 !!!!

Posted by newbieA > 2021-12-10 15:12 | Report Abuse

this counter is game over and there is no turning back!!!! Runnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnn

Posted by xiaomixiaohai > 2021-12-10 15:12 | Report Abuse

Collapsing is imminent.... u still want to wait? Disaster already lol

Posted by xox9989 > 2021-12-10 15:14 | Report Abuse

All research house downgraded Topglov to sell, target price RM1.00.

Posted by ahbah > 2021-12-10 15:14 | Report Abuse

for me, no eyes see liao.

Posted by apple168 > 2021-12-10 15:15 | Report Abuse

戴维斯双杀效应

Posted by Knm_bottomed > 2021-12-10 15:15 | Report Abuse

Buy buy

Posted by xox9989 > 2021-12-10 15:15 | Report Abuse

Topglov result expect to making loss in next few Q. Now just begining of worst case.

Posted by LossAversion > 2021-12-10 15:15 | Report Abuse

No worries. Buy, buy...for a better tomorrow!!

Posted by Keyman188 > 2021-12-10 15:16 | Report Abuse

Amboi...of course no eye see lahh...

You need take you time whether what's wrong on your investment behaviour 1st...



wkwkwk...kekeke...hehehe...

Posted by newbieA > 2021-12-10 15:16 | Report Abuse

bank FD is much better than topglov, because your capital won't reduce by half and your interest is now higher compare to topglov dividend!!!Runnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnn

Posted by NatsukoMishima > 2021-12-10 15:17 | Report Abuse

When business good got huge cash flow splash like water in 880million paper loss sbb , the boss already failed to become a value investor , so as a shareholder also no need put high expect on tg anymore ! It already become the most expensive lesson for bilis in bursa history !

Posted by xox9989 > 2021-12-10 15:17 | Report Abuse

JP Morgan slashes TP for glove makers to pre-Covid levels, warns market underestimating ASP bottoming risk

KUALA LUMPUR (Nov 17): JP Morgan which has been bearish on the glove sector since last year, has once again slashed its target price (TP) for Top Glove Corp Bhd to RM1.50 — a 67.33% discount from its current price of RM2.51 — while maintaining an “underweight” rating.

In a note, JP Morgan said the market is underestimating the potential impact of the bottoming gloves average selling price (ASP) and the shift in pricing power back to the buyers.


The note also covered Hartalega Holdings Bhd and Kossan Rubber Industries Bhd. JP Morgan gave an “underweight” rating and a fair value of RM4.00 to Hartalega, 36.25% lower than its current price of RM5.45 while Kossan’s rating was “neutral” and its fair value is pegged at RM2.00, down 3.5% from its current price of RM2.07.

Notably, these TPs are similar to the glove makers’ share prices before the global Covid-19 outbreak.

JP Morgan analysts Jeffrey Ng and Sean Teo said the operating margin per unit (OPM) from the latest results briefings from the Malaysian glove makers might fall below pre-Covid-19 levels despite earlier estimates forecasting a better-than-pre-Covid-19 OPM.


“The industry is still finding [its] bottom. Note that glove ASP has dropped from US$115 in Feb-21 to today’s US$28-$30. It is now clear that glove ASP has reverted to a cost-plus basis. Channel checks indicate that current OPM is already nearing pre-Covid-19 margins. But the main question is will margins compress below pre-Covid-19 levels due to intensified competition from China? The risks are tilted toward the downside and the market, in our view, has not fully discounted this risk,” the analysts wrote.

They also cut the OPM assumptions by 20%-30% similar to pre-Covid-19 margins of US$2.4-5 and said that the glove makers will see a mean reversion and trade at their respective historical trading ranges of 13-18 times earnings unless a price war happens.


JP Morgan noted that Kossan’s modest expansion plans and its net cash as of September 2021 stood at RM2.4 billion which makes up 38% of its market capitalisation and is expected to improve to 39% in FY22.

Top Glove and Hartalega, however, have a latest quarterly net cash of 3% and 22% respectively against their market capitalisation of RM20.6 billion and RM18.37 billion.

The analysts cautioned that ambitious expansion plans would limit the future growth of the glove makers’ net cash position.

Meanwhile, JP Morgan said Malaysian glove makers’ best days are over as Covid-19 testing — which drove demand for rubber gloves and caused supply tightness — has peaked and glove demand and prices will decelerate and normalize thereafter.


In particular, the analyst believes that Top Glove and Hartalega’s balance sheet management is suboptimal for creating shareholder value due to the persistence in dividend payouts and funding their increasing capex for more production capacity with equity which has a higher cost compared to debt.

“Despite the strong cash flow generation, the company has maintained its dividend payout at 50%, but plans to increase capex to 4x its historical average. Utilizing equity at a cost of 7.7% vs the cost of debt of <5% in funding capex, in our view, is not optimal for shareholder value creation,” the analysts wrote of Top Glove.

Top Glove’s peer Hartalega had also said that it will increase its capex by 2.3 times in the next three years, compared with its financial year ended March 31, 2017 (FY17) to FY19.


“We believe Hartalega could unlock more value if it utilizes its debt to fund its capex as its cost of equity of 7.8% is higher than its cost of debt of 2.5%. However, Hartalega has stated it will maintain its 60% dividend payout despite the supernormal cycle and deploy cash instead of tapping debt to fund its capex,” the analysts said.

Kossan, on the other hand, has a fairly muted capex despite a strong cash generation during the glove supercycle. As it has been trading at a discount to its peers due to its smaller size and lower margins and is no longer in large funds’ top-10 holdings according to JP Morgan’s proprietary domestic fund fact sheet analysis.

JP Morgan also outlined risks to its bearish sector call which includes a sharp cut in planned capacity expansion which reduces price competition risk, and unexpected changes in nitrile and natural rubber prices which could uplift glove prices from their current lows.

Further challenges to its sector call would be a consistent step-up in dividend payout and balance sheet management, a substantial depreciation of the ringgit that would improve profits as gloves are sold in US dollar terms.

The exit of new entrants cutting oversupply risk and unforeseeable factors driving a valuation re-rating could also see glove makers’ prices move upwards too, the analysts said.

Posted by newbieA > 2021-12-10 15:17 | Report Abuse

if you still don't knw who's RSS behind this stock, let me tell you the name;;;EXF...you think yourself!

Posted by ChartAnalysis > 2021-12-10 15:17 | Report Abuse

I was told Omicron will make glove fly up??

Rm1.5 incoming (believe in JP Morgan)

Posted by NatsukoMishima > 2021-12-10 15:17 | Report Abuse

0.82 - 1.20 only consider will buy batch by batch !

Posted by ChartAnalysis > 2021-12-10 15:18 | Report Abuse

1 day green, 4 days red.. rinse and repeat

In JP morgan, we trust

Posted by xiaomixiaohai > 2021-12-10 15:19 | Report Abuse

All glove maniacs waiting to be slaughtered lol

Posted by xiaomixiaohai > 2021-12-10 15:20 | Report Abuse

Both US and Malaysia's largest banks.... JP Morgan and Maybank.... issued TP of 1.50 and 1.68 respectively

JP Morgan slashes TP for glove makers to pre-Covid levels, warns market underestimating ASP bottoming risk
https://www.theedgemarkets.com/article/jp-morgan-slashes-target-price-glove-makers-precovid-levels-cites-markets-underestimation

Top Glove - ASP Downtrend to Continue; Downgrade to SELL
https://klse.i3investor.com/servlets/ptres/60839.jsp

Posted by Hush77 > 2021-12-10 15:22 | Report Abuse

To exceed maybank mkt cap..top glove share price need to go to around $12.. now only $2++
So tan sri need to move it up by around $10

Posted by titan3322 > 2021-12-10 15:23 | Report Abuse

Habis !

Posted by Investoz88 > 2021-12-10 15:27 | Report Abuse

Results are bad as expected by many analysts.
Some light in the dark channel as TG mentioned sales will improve in next few qtrs, raw material costs lower and deferred expansion.
Price now back to pre pandemic level..

Posted by iswara > 2021-12-10 15:27 | Report Abuse

toward rm1.5

Posted by Hush77 > 2021-12-10 15:27 | Report Abuse

Looking at this gov shld remove the windfall tax.. since no more windfall

Posted by skcm2017 > 2021-12-10 15:27 | Report Abuse

https://whtc.com/2021/12/07/delta-variant-cases-rising-in-canadas-ontario-omicron-to-hit-hard-and-fast/

Delta variant cases rising in Canada’s Ontario, Omicron to hit ‘hard and fast’

Posted by skcm2017 > 2021-12-10 15:28 | Report Abuse

Tan Sri will start his move soon...careful

Posted by sten_still > 2021-12-10 15:31 | Report Abuse

topglov is top ple

Posted by limkokthye > 2021-12-10 15:32 | Report Abuse

holland liao

Posted by xox9989 > 2021-12-10 15:33 | Report Abuse

All fund managers selling now and buy back at RM1.00

Posted by lawrgan > 2021-12-10 15:37 | Report Abuse

Fund managers are not selling, you are panicking to sell. Managers sold long ago. Haha

Posted by NatsukoMishima > 2021-12-10 15:38 | Report Abuse

Cut loss is the first basic u must learn in stocks game otherwise 10million also not enough for your capital loss !

Posted by gloveharicut > 2021-12-10 15:38 | Report Abuse

https://klse.i3investor.com/blogs/gloveharicut/2021-12-10-story-h1595537408-TOPGLOV_1QFY22_Briefing_slides.jsp

Posted by Cactusgirl > 2021-12-10 15:39 | Report Abuse

actually with vaccine developed, gloves is hard to make huge profit now. Any variant of covid, can just speedy modify existing vaccine to cover it. Unless got new virus that need new type of vaccine

Posted by lawrgan > 2021-12-10 15:40 | Report Abuse

When all the bad news can’t bring down the price lower, you should know the answer.

Posted by Catchthewave > 2021-12-10 15:40 | Report Abuse

Play day contra ppl start to buy back already before day end

Posted by ahbah > 2021-12-10 15:41 | Report Abuse

KUALA LUMPUR (Nov 17): JP Morgan which has been bearish on the glove

sector since last year, has once again slashed its target price (TP) for

Top Glove Corp Bhd to RM1.50 — a 67.33% discount from its current price

of RM2.51 — while maintaining an “underweight” rating.

Posted by NatsukoMishima > 2021-12-10 15:41 | Report Abuse

Soon JPM will slash tp to 0.82 base on the latest qr n jpm will predict net loss coming in few qr !

Posted by williamh > 2021-12-10 15:41 | Report Abuse

Leave all Your worry behind and Bat can help you recover most of the lost on TG ,they given out around 8% yield,,dont miss

Posted by messi88 > 2021-12-10 15:42 | Report Abuse

Net loss in coming quarters???

Posted by messi88 > 2021-12-10 15:42 | Report Abuse

Report out?

Posted by Snowpiercer > 2021-12-10 15:44 | Report Abuse

Better cancel the hk listing......further dilute EPS

Posted by messi88 > 2021-12-10 15:45 | Report Abuse

Why u all so panic?? Because of JPM???

Posted by whocare1982 > 2021-12-10 15:45 | Report Abuse

https://youtu.be/mW1iM_E0ZkQ
(马股)顶级手套业绩出炉！业绩分析，是否值的买入？！

Posted by messi88 > 2021-12-10 15:45 | Report Abuse

JPM strategy to buy cheap from u. U all kena trap

Posted by ahbah > 2021-12-10 15:47 | Report Abuse

How to recover our hard earn capital invested in glove stocks ?

Still got hope meh ?

Posted by Newbie_23 > 2021-12-10 15:52 | Report Abuse

Q1 profit plunges 92%

Posted by newbieA > 2021-12-10 15:53 | Report Abuse

stop counting how much you have lost, but think how much left for you to take back!!! wake up.......runnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnn