BOD tussle? After 2014 Texcorp shares disposal announcement ...FY17 , FY18, FY19 is at Loss .
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As at to-date, Texcorp, a 73.94% owned subsidiary of TRB, holds 18,144,309 ordinary shares in TRB, representing 15.05% of the total number of issued shares of TRB (“TRB Shares”).
Pursuant to Section 22(5)(b) of the Companies Act 2016 (“Act”), Texcorp is required to dispose of all its shareholding in TRB within twelve (12) months or such longer period as the Companies Commission of Malaysia (“CCM”) may allow. Following thereto, Texcorp has on 14 April 2020 submitted an application to CCM for an extension of time to dispose of the TRB Shares.
Table 2 – Top Global Manufacturers and Producers of Nitrile Gloves based on Industry Research’s 2019 Global Market research report
Note – Annual revenue values derived from company websites and annual financial reports. Company Name Location Estimated Annual Revenue
AMMEX Kent, Washington, USA Privately held Ansell Richmond, Australia $1.499 billion Aurelia Gloves Aurora, IL, USA Privately held Barber Healthcare Leyburn, United Kingdom Privately held Comfort Rubber Gloves Industries Perak, Malaysia $109.8 million Dynarex Orangeburg, NY, USA Privately held Hartalega Holdings Kuala Lumpur, Malaysia $655 million Illinois Glove Northbrook, IL, USA Privately held Kimberly-Clark Irving, TX $18.45 billion Kossan Rubber Selangor, Malaysia $492 million Medicom Montreal, Canada Privately held Renco Corporation Manchester, MA Privately held Riverstone Selangor, Malaysia $211.8 million Rubberex Perak, Malaysia $47.6 million Semperit Vienna, Austria $925 million Sempermed North Clearwater, FL, USA $925 million Synthomer Essex, United Kingdom $1.81 billion Tan Sin Lian Johor, Malaysia Privately held Top Glove Shah Alam, Malaysia $1.1 billion United Glove Newton, NC, USA Privately held VWR Radnor, PA, USA $1.52 billion
YTY Group Kuala Lumpur, Malaysia $10.8 billion
Shandong Yuyuan Shandong, China Privately held Zhangjiagang Dayu Jiangsu, China Privately held
SEE FULL ARTICLE WITH TOPGLOVE VISITING TEXCHEM FACTORY ( texview-2019-q3)
Read again
Top Glove conducted an audit and Texchem Malaysia passed the audit and will be one of their approved vendors. This is a big step ahead for Texchem Malaysia and with the strong and dedicated team, the company is poised for greater growth in the future.
READ IT ONE MORE TIME IN BOLD LETTERS!
1. TOP GLOVE CONDUCTED AN AUDIT AND TEXCHEM PASSED THE AUDIT
(Anzo has not even set up its production much less will it pass the stringent test)
2) TEXCHEM WILL BE ONE OF TOPGLOVE APPROVED VENDORS
3) BIG STEP AHEAD FOR TEXCHEM MALAYSIA
4) STRONG & DEDICATED TEAM - THE COMPANY IS POISED FOR GREATER GROWTH IN THE FUTURE (Stupid mikecyc aka johnchew or cmhoon looks at past)
2013 texchem moved upwards from 40 Sen to 1.80 Similar pattern today going past 1m volume and 55 Sen upwards Trend of going beyond 1.80 TQ Calvin for promoting and buying With June results confirming profit again should trend above 2
Ok thanks, i guess i'll just hold what I got. Food division will get hit hard, we'll see if the other division can cover the losses or not. Profit margin is my biggest concern, for a company that is consistent is making sales for more than 10 years, the operating margin is so awful, making more than a billion each year yet cant squeeze profit, on the other hand they're not making much loss also. The reason this stock is in my portfolio is for the industrial division that benefits from this situation, i got no worry bout food division getting back to normal revenue. So this stock is worth a small chunk of the portfolio to hold long term. Plus i do think its undervalued, no way you can find a company with 1b+ revenue with market cap 50m-70m, little to lose here.
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Posted by Cmhoon > 2020-07-08 22:41 | Report Abuse
BOD tussle? After 2014 Texcorp shares disposal announcement ...FY17 , FY18, FY19 is at Loss .
===========
As at to-date, Texcorp, a 73.94% owned subsidiary of TRB, holds 18,144,309 ordinary shares in TRB, representing 15.05% of the total number of issued shares of TRB (“TRB Shares”).
Pursuant to Section 22(5)(b) of the Companies Act 2016 (“Act”), Texcorp is required to dispose of all its shareholding in TRB within twelve (12) months or such longer period as the Companies Commission of Malaysia (“CCM”) may allow. Following thereto, Texcorp has on 14 April 2020 submitted an application to CCM for an extension of time to dispose of the TRB Shares.