ASP to remain robust until end of 2021.
--------------------------------------

"Estimated presold quantity in Malaysia as at January 2021 is 160 billion gloves which is the equivalent of 6.86 months of production capacity thus leading to a long lead time until year end."

https://www.med-technews.com/medtech-insights/medtech-materials-and-assembly-insights/threats-to-ppe-supply-and-fraudulent-products/

ASP to remain robust until end of 2021.
------------------------------------

"Estimated presold quantity in Malaysia as at January 2021 is 160 billion gloves which is the equivalent of 6.86 months of production capacity thus leading to a long lead time until year end."

https://www.med-technews.com/medtech-insights/medtech-materials-and-assembly-insights/threats-to-ppe-supply-and-fraudulent-products/

@ i3lurker, wellsaid.

I would say that ALL are aware that MrDIY share is only worth 15 sen

I would say that ALL are aware that MrDIY share is a controlled share

I would say that ALL are aware that MrDIY share is a con share

but BUT

most buy coz they expect the penny share controller can boost from 15 sen share to at least RM10.00 and maybe RM200.00 per share

later dive down to only 15 sen, they can only blame themselves for being a sucker. funny thing is expansion is banned for MrDIY,
its just a franchisee.

No expansion is allowed outside Malaysia and Brunei.

with MrDIY huge capitalisation later MrDIY will takeover Maybank

New Name => MrDIY Maybank

This piece of news will definitely give the SHORTIES and their pathetic TROLLS sleepless nights.

as @ Foongkitmun said...... if still cannot Rm3.50 - need to slaughter these barking dogs for barbecue....

Top Glove downsizes Hong Kong IPO to raise RM4.17 billion instead of RM7.7 billion
------------------------------------------------------------------------
theedgemarkets.com

April 22, 2021 19:45 pm +08

KUALA LUMPUR (April 22): Top Glove Corp Bhd has downsized its Hong Kong Initial Public Offering (IPO) to raise RM4.17 billion, down from the initial sum of RM7.7 billion that was announced in September last year.

In a bourse filing, the glove maker said that it was cutting the number of shares allotted as part of the listing exercise to 793.5 million shares, from 1.495 billion shares initially stated.

“The revision to the number of new Top Glove shares proposed to be issued under the proposed issuance of new shares above takes into consideration the best interest of the existing shareholders of the company by minimising dilution to existing shareholders respective shareholding,” said Top Glove.
-----------------------------------------------------------------------------

This is good news for TG in particular and Glove sector in general.

Top Glove downsizes Hong Kong IPO to raise RM4.17 billion instead of RM7.7 billion
------------------------------------------------------------------------
theedgemarkets.com

April 22, 2021 19:45 pm +08

KUALA LUMPUR (April 22): Top Glove Corp Bhd has downsized its Hong Kong Initial Public Offering (IPO) to raise RM4.17 billion, down from the initial sum of RM7.7 billion that was announced in September last year.

In a bourse filing, the glove maker said that it was cutting the number of shares allotted as part of the listing exercise to 793.5 million shares, from 1.495 billion shares initially stated.

“The revision to the number of new Top Glove shares proposed to be issued under the proposed issuance of new shares above takes into consideration the best interest of the existing shareholders of the company by minimising dilution to existing shareholders respective shareholding,” said Top Glove.

Glorious Days in Gloves Sector Are Not Over Yet Bro.
-----------------------------------------------------
KEY POINTS

1-Rising /Resurgence in Covid-19 cases, blessing in disguise for glove makers

2-Gloves demand to exceed supply for at least 2-3 years- per Hartalega Boss.

3-GLOVE Sector is on the uptrend.

4-Supermax is still undervalued.

LATEST
---------

TG reduce the number of shares they will issue:
-----------------------------------------------
On behalf of the Board, HLIB wishes to announce that the Board has resolved to revise the issuance of new Top Glove Shares from up to 1,495,000,000 to up to 793,500,000 new Top Glove Shares (including an additional 103,500,000 new Top Glove Shares which may be issued under the over-allotment option, if exercised in full) under the Proposed Issuance of New Shares pursuant to the Global Offering.


Hence less shares in circulation- Good news for TG Shareholders- less DILUTION.

TG to surge further tomorrow.

Huat Arrrr.

@ i3lurker- thanks for your comments regarding Mr DIY
scam and con is always approved in BURSA

funny thing is expansion is banned for MrDIY,
its just a franchisee.
No expansion is allowed outside Malaysia and Brunei.

dun worry Goldberg, with MrDIY huge capitalisation later MrDIY will takeover Maybank

New Name => MrDIY Maybank

kakakakaka

Extract from Supermax press release on prospects on following quarters-

"The Average Selling Prices (ASPs) are continuing to trend upwards and the highest ASPs have not been reflected in this current quarter. Natural rubber glove prices, which have been lagging its nitrile counterpart rather significantly throughout the pandemic, are beginning to gap up in tandem with rising demand as nitrile glove supply becomes more constricted by raw material supply constraints. We are optimistic that our OBM cum Distribution Business Model will exhibit even healthier & stellar performances in the coming quarters. "

Looks like SUPER is going to announce a PAT of at least RM1.48 billion soon.

Malaysia may face 50,000 active cases by Hari Raya.

https://klse.i3investor.com/blogs/savemalaysia/2021-04-22-story-h1564080002-_Malaysia_may_face_50_000_active_cases_by_Hari_Raya.jsp

@ i3lurker- thanks for your wise comments.

I would say that ALL are aware that MrDIY share is only worth 15 sen

I would say that ALL are aware that MrDIY share is a controlled share

I would say that ALL are aware that MrDIY share is a con share

but BUT

most buy coz they expect the penny share controller can boost from 15 sen share to at least RM10.00 and maybe RM200.00 per share

later dive down to only 15 sen, they can only blame themselves for being a sucker.

its just a gambling counter that people use to gamble...Repco Low style

Glorious Days in Gloves Sector Are Not Over Lah !
===================================
22 Apr 2021, 10:21 AM

In 1Q21, the glove makers such as Top Glove and Hartalega fell by 26.1% and 26.4%, respectively, Kossan Rubber plunged 28.4% while Supermax and Comfort Glove tumbled more than 36%. Meanwhile, Top Glove, Supermax and Hartalega also fell to their one-year low price of RM4.52, RM3.81 and RM8.91, respectively, to end 1Q21.

Despite the lackluster performance in the previous quarter, the rubber glove sector has seen making a comeback this month, showing that the glorious days may not be over just yet, due to the rising Covid19 cases in both Malaysia and globally. Investors who are bullish on Malaysia glove counters and want to gain leveraged exposure to these underlyings for a fraction of their share prices may consider Macquarie’s trending warrants such as ….

Rising in Covid-19 cases, blessing in disguise for glove makers

In 2Q21, rubber glove counters were among the top gainers in Malaysia; Supermax recorded the most gain since early April, up 45.4% based on yesterday’s closing price of RM5.54, followed by Comfort Glove (+43.8%), Top Glove (+20.6%) and Kossan Rubber (+20.6%). The recent rally in the glove counters could be due to the rising daily Covid19 cases which recorded more than 2,000 cases per day recently despite ongoing movement restrictions in most states in Malaysia, coupled with even stricter rules imposed by the Malaysian government amid the Malaysian Muslims’ anticipation to be able to go back to their hometown to celebrate Hari Raya with their families in couple of weeks’ time.

Gloves demand to stay above pre-Covid19 levels, said analyst

Earlier last month, an analyst from a local investment bank said that the plunge in share prices of Malaysian rubber gloves makers was “unjustified”. The analyst maintained an Overweight call on the sector as he believes that investors might have lost their confidence earlier due to the potential fall in selling prices of gloves on lower demand as more people are being vaccinated globally (CNBC, 9 March).

ASP will continue its upward trend - albeit gradual till end of 2021.

Margma president Dr Supramaniam Shanmugam (pix) said the estimated oversold (sold forward) quantity in Malaysia as at January 2021 is 160 billion gloves, equivalent to seven (6.86) months of production capacity, an improvement from 10-12 months in first-quarter 2020 (Q1’20) and Q2’20 at the height of the pandemic.

This long lead time situation is expected to persist until year-end.

80b cents road block -kasi pecah- then fly to 90 sen.

Chef - minyak sudah panas kah?

https://www.eenewseurope.com/news/foxconn-talks-buy-memory-fab

X

LATEST NEWS

Foxconn is exploring buying a share in a 200mm fab in Malaysia run by Silterra.
--------------------------------------------------------------------------

April 21, 2021 // By Nick Flaherty

Foxconn are also in talks to buy memory fab

The world’s largest contract manufacturer Foxconn is speeding up its move into the chip market by looking to buy a 150mm memory fab in Taiwan.
Foxconn chairman Young Liu confirmed the company is in talks about acquiring a 150mm fab from Macronix which makes non-volatile memory chips. This is key for its automotive customers, says Liu.

The company is exploring buying a share in a 200mm fab in Malaysia run by Silterra.

*Kossan Briefing Key Takeaways*

*1. ASP is still increasing for 2Q.* April ASP is higher than March and is at the range of USD90-100 now. For 1Q, ASP realized is between USD80-85 (closer to USD80). No price guidance for 2H2021 but we believe any decline should be gradual as Kossan is coming from low base during the ASP uptrend.

*2. Sales volume should improve 5% QoQ in 2Q2021.* Although there is no capacity expansion in 2Q2021, incremental volume is expected as Kossan utilisation rate recovers to optimal level. In 1Q2021, volume improved 3% QoQ but was still below 3Q20. We believe that January production was below optimal level as it takes time to gain production momentum after the disruption in December due to high COVID-19 cases. Things are back to normal now and 2Q should see full quarter of optimal production level.

*3. To expand by 1.5bn ppa in July.* Plant 20 should start commissioning in July and this should increase its total capacity by 5% to 33.5bn ppa. Current production capacity is 32bn ppa.

*4. Making significant progress in ESG.* Kossan has achieved zero COVID-19 cases throughout its company in 1Q2021. This is a major improvement as compared to 990 cases detected in Dec-2020. Reason behind the achievement is from frequent testing on all of its employees. Note that every 2 weeks, Kossan will test 20% of their employees population with (Polymerase Chain Reaction) PCR test.

Posted by Goldberg > Apr 21, 2021 12:15 PM | Report Abuse X

A CORNERED stock can be easily Manipulated
----------------------------------------------
Foreign investors, IB's & owners -Tan Brothers collectively own close to 95 % of the paid up capital of Mr DIY.

With a free float of less than 5% - it is easy to manipulate and push the price up further.

For the record, its market capitalisation is well above that of many established banks as listed below :-

1-RHB Bank Bhd,
2-Alliance Bank (M) Bhd,
3-Affin Bank Bhd,
4-AMMB Holdings Bhd and
5-BIMB Holdings Bhd.

Mr DIY’s market cap had reached RM26.6 billion as at April 9. In terms of the banks that are lagging behind the retailer in market value, RHB Bank’s market cap came in the closest at RM21.6 billion.

Mr DIY’s price-earnings ratio (PER) is 78.21 times.

Todate IBs has issued 20 MRDIY call warrants - To hedge they need to buy MRDIY shares- And to PROMOTE the sale of CWs - they need to write GLOWING prospects and assign fantastic Target Price.

All the IBs are using this Modus Operandi- Promote the sell Call Warrants.

Sadly SC / Bursa approve this manipulation.

Walking the talk: Top Glove’s founder takes workers’ welfare into own hands

Author: savemalaysia | Publish date: Tue, 20 Apr 2021, 10:03 AM

TAKING responsibility to right the wrongs highlighted in recent months, Top Glove Corp’s founder and executive chairman Tan Sri Lim Wee Chai has been personally chairing daily meetings in correcting short falls relating to workers’ welfare over the past nine months.

Way to go Tan Sri.

A CORNERED stock can be easily Manipulated
----------------------------------------------
Foreign investors, IB's & owners -Tan Brothers collectively own close to 95 % of the paid up capital of Mr DIY.

With a free float of less than 5% - it is easy to manipulate and push the price up further.

For the record, its market capitalisation is well above that of many established banks as listed below :-

1-RHB Bank Bhd,
2-Alliance Bank (M) Bhd,
3-Affin Bank Bhd,
4-AMMB Holdings Bhd and
5-BIMB Holdings Bhd.

Mr DIY’s market cap had reached RM26.6 billion as at April 9. In terms of the banks that are lagging behind the retailer in market value, RHB Bank’s market cap came in the closest at RM21.6 billion.

Mr DIY’s price-earnings ratio (PER) is 78.21 times.

SC /BURSA - any comments.?

Kossan's powerful tide will lift all boats today and send JPM and their pathetic Trolls to Timbuktoo..

Tradeview Results Update - Kossan Q1 FY 2021

Kossan results is out. Surprising the market, the QR announcement was brought forward. Indeed, it is an exceptional results no wonder the management is eager to share the results with shareholders.

It is the highest record profit and revenue ever in their history. To put things into perspective, this quarter alone, the revenue exceeded RM 2 billion and stands at more than 50% of last full year results. On top of that, the net profit alone in this quarter is RM 1.04 Billion which almost exceeded full year results of QR 2020. The company cash balance stands at RM 1.25 billion and net cash of RM 800+ million after deducting borrowings.

How do you know if the results is mind blowing? Well, the analysts consensus forKossan FY 2021 net profit is RM 2.5 billion. In 1 quarter alone Kossan already did RM 1.04 billion which is 41% of the full year consensus. To add a cherry to the top, the management generously dished out 12 sens dividend in 1 quarter which translates to a dividend yield of 3.15% at current price of RM 3.80. All in all, as an investor in companies, one cant ask for more in terms of the delivery of earnings and performance by the company.

One more point to note, the average blended ASP of Kossan is not sky high like Supermax or Top Glove. Based on the calculation of their capacity of 28 billion pieces per annum, the average ASP is US 76 per carton. However, I am not sure if the actual capacity is now at 28 Billion or 32 billion. Taking 32 billion capacity, the ASP is USD 67. Taking a range of USD 67 - 76 ASP, Kossan is able to deliver record earnings. I shall leave it to investors to assess for themselves whether this is a strong financial performance or otherwise.

Tradeview Results Update - Kossan Q1 FY 2021

Kossan results is out. Surprising the market, the QR announcement was brought forward. Indeed, it is an exceptional results no wonder the management is eager to share the results with shareholders.

It is the highest record profit and revenue ever in their history. To put things into perspective, this quarter alone, the revenue exceeded RM 2 billion and stands at more than 50% of last full year results. On top of that, the net profit alone in this quarter is RM 1.04 Billion which almost exceeded full year results of QR 2020. The company cash balance stands at RM 1.25 billion and net cash of RM 800+ million after deducting borrowings.

How do you know if the results is mind blowing? Well, the analysts consensus forKossan FY 2021 net profit is RM 2.5 billion. In 1 quarter alone Kossan already did RM 1.04 billion which is 41% of the full year consensus. To add a cherry to the top, the management generously dished out 12 sens dividend in 1 quarter which translates to a dividend yield of 3.15% at current price of RM 3.80. All in all, as an investor in companies, one cant ask for more in terms of the delivery of earnings and performance by the company.

One more point to note, the average blended ASP of Kossan is not sky high like Supermax or Top Glove. Based on the calculation of their capacity of 28 billion pieces per annum, the average ASP is US 76 per carton. However, I am not sure if the actual capacity is now at 28 Billion or 32 billion. Taking 32 billion capacity, the ASP is USD 67. Taking a range of USD 67 - 76 ASP, Kossan is able to deliver record earnings. I shall leave it to investors to assess for themselves whether this is a strong financial performance or otherwise.

Supermax is poised to announce Quarterly PAT of RM1.48 billion next week and send JPM and their bungling Trolls to the moon.

SUPER is on course towards achieving a FYE 2021 - PAT of RM4.5 billion.

Kossan will fly like a bird tomorrow and take the whole Glove sector with it.

A. PAT of RM 1.01 billion for the last quarter (3 months) is jaw dropping.

All that said it's priced in are delusional CLOWNS.

TG, SUPER ,KOSSAN & HARTA are all having lead times of around 200 days. That is if you order today and supplies will be ready in 200 days time.

Now- Uncle Koon says over supply of gloves.

Maybe JPM in their desperate attempt to bring down Gloves stock- hired Uncle Koon- (of all people).

THIS IS DEFINITELY GOING TO BACKFIRE.- TOMORROW.

BNM will give the green light soon as the people are suffering really bad- financially- in this pandemic.

TOP GLOVE's next quarter PAT is projected to hit 5 billion- sufficient to declare a 40 sen dividend and send the SHORTIES and their disgusting TROOL to the moon.

Kossan earnings top RM1b for the first time with latest 1Q results on Covid-19 demand.
-------------------------------------------------------------------------
Noting that the global demand for the glove products is forecast to grow between 15% and 20% by the Malaysian Rubber Glove Manufacturers Association (MARGMA), Kossan expects its glove division to continue to perform significantly better in 2021 compared with in 2020.

Citing MARGMA again, Kossan said Malaysia's glove export revenue for 2021 is expected to hit RM38 billion compared with RM35.3 billion as global demand for gloves is predicted to grow to 420 billion pieces in 2021.

Post-pandemic, it said the demand for gloves will continue to undergo structural growth as a result of higher healthcare standards and hygiene awareness in both the medical and non-medical sectors.

The massive resurgence of COVID 19 case worldwide is set to create a massive shortage of Gloves for the next 3-5 years.

Kossan earnings top RM1b for the first time with latest 1Q results on Covid-19 demand.


Noting that the global demand for the glove products is forecast to grow between 15% and 20% by the Malaysian Rubber Glove Manufacturers Association (MARGMA), Kossan expects its glove division to continue to perform significantly better in 2021 compared with in 2020.

Citing MARGMA again, Kossan said Malaysia's glove export revenue for 2021 is expected to hit RM38 billion compared with RM35.3 billion as global demand for gloves is predicted to grow to 420 billion pieces in 2021.

Post-pandemic, it said the demand for gloves will continue to undergo structural growth as a result of higher healthcare standards and hygiene awareness in both the medical and non-medical sectors.


The massive resurgence of COVID 19 case worldwide is set to create a massive shortage of Gloves for the next 3-5 years.

@ omione- Thanks for the comment..

The stock market is all about sentiments. Fundamentals serve only as a safety net. Supermax has excellent fundamentals. Yet its stock price was sold down. But relax. When all the stars align, it will easily hit Rm40 and still dwell well within the fundamentals (albeit, if it isn't bought out by the American before that). In March 2020, Tesla share price was $40. One year later, it shot up to $900 based on nothing more than exuberance. If Supermax were to be trading with exuberance plus fundamental, the market makers would rocket its stock price well above Rm40. The narratives in favor of Supermax are coalescing for the coming rally. Shorting by JP Morgan could be positive. This story will be for another time. Hang on tight.

Soon MR DIY will be doing a PP-Private Placement @ RM 3.80 to raise funds to pay dividends.

SC and Bursa are not doing their job- This is a clear cut rigged/manipulated counter.

The Authorities sleeping as usual.

Mr DIY's top 30 shareholders controlling 70 -95% of the shares - its basically a 'Cornered' stock. The 'institutional 'syndicates are in full control of the share price.

The value was created by the big boys decision to push up the share price with IB 'misleading' report as cohort.

By the way IBs ( if not all IBs) has joined the DIY bandwagon by issuing 20 call warrants to date.

Can any news media and IB report be independent and free? Case in Point Mr DIY.
--------------------------------------------------
https://spartacus-educational.com/USAswintonJ.htm
John Swinton, former Chief of Staff of the most powerful and prestigious newspaper on earth, The New York Times, when asked to give a toast to the "free press" at the New York Press Club stated:

(1) John Swinton, speech in New York City (1880)

There is no such thing, at this stage of the world’s history in America, as an independent press. You know it and I know it. There is not one of you who dare write your honest opinions, and if you did, you know beforehand that it would never appear in print. I am paid weekly for keeping my honest opinions out of the paper I am connected with. Others of you are paid similar salaries for similar things, and any of you who would be foolish as to write honest opinions would be out on the streets looking for another job. If I allowed my honest opinions to appear in one issue of my papers, before twenty-four hours my occupation would be gone. The business of the journalist is to destroy the truth, to lie outright, to pervert, to vilify, to fawn at the feet of mammon, and to sell his country and his race for his daily bread.

The above speak 99.999% true for any news media and IB report claimed of “Independent and free press”

For example let’s examine what omission/commission or highlighted/ignored by free and independent media report on MRDIY:

PETALING JAYA: The RM1.5bil initial public offering (IPO) of Main Market-bound MR DIY Group (M) Bhd has been oversubscribed by retail investors as well as Malaysian and foreign institutional funds by 3.91 times.
The home improvement retailer’s IPO involves the offer of up to 941.49 million shares, with institutional investors taking up 779.96 million shares and the remaining 161.53 million shares going to retail investors.

“For the balloting in respect of the applications received from the Malaysian public, a total of 9,244 applications for 133.93 million issue shares with a value of RM214.29mil were received, representing an oversubscription of 0.07 times.

What was NOT highlighted-

Retail investor balloting:

1 retail investor successful applied for 9 million shares (8.40%)
1 retail investor successful applied for 25 million shares (23.34%)

Can a retail investor have so much money to apply for 9 or 25 million shares?

Is The Balloting manipulated by the Promoters?

Mr DIY's top 30 shareholders controlling 70 -95% of the shares - its basically a 'Cornered' stock. The 'institutional 'syndicates are in full control of the share price.

The value was created by the big boys decision to push up the share price with IB 'misleading' report as cohort.

By the way IBs ( if not all IBs) has joined the DIY bandwagon by issuing 20 call warrants to date.

With RM970 mil at stake, DNex won’t waste time turning SilTerra around
-------------------------------------------------------------------------
April 20, 2021 14:00 pm

DAGANG Nexchange Bhd (DNex), the information technology and trade facilitation services company that has won the bid for SilTerra Malaysia Sdn Bhd, is confident that it will be able to turn the semiconductor wafer fabrication company around within two years.

The stakes are high for DNex as it will, together with its partner, a fund under the Beijing CGP Investment Co Ltd, invest RM970 million in the venture, in areas including access to technology, capital and markets, as well as building a digital industry ecosystem with SilTerra as its anchor in Malaysia.

Syed Zainal: What gives us more confidence today is we have a partner like CGP.

Interesting article.

https://klse.i3investor.com/blogs/bursainvestments/2021-04-20-story-h1563422809-Supermax_Top_Glove_Hartalega_Kossan_Local_Institutions_Buying_Gloves.jsp

Interesting article.

https://klse.i3investor.com/blogs/bursainvestments/2021-04-20-story-h1563422809-Supermax_Top_Glove_Hartalega_Kossan_Local_Institutions_Buying_Gloves.jsp

Can any news media and IB report be independent and free? Case in Point Mr DIY.
--------------------------------------------------
https://spartacus-educational.com/USAswintonJ.htm
John Swinton, former Chief of Staff of the most powerful and prestigious newspaper on earth, The New York Times, when asked to give a toast to the "free press" at the New York Press Club stated:

(1) John Swinton, speech in New York City (1880)

There is no such thing, at this stage of the world’s history in America, as an independent press. You know it and I know it. There is not one of you who dare write your honest opinions, and if you did, you know beforehand that it would never appear in print. I am paid weekly for keeping my honest opinions out of the paper I am connected with. Others of you are paid similar salaries for similar things, and any of you who would be foolish as to write honest opinions would be out on the streets looking for another job. If I allowed my honest opinions to appear in one issue of my papers, before twenty-four hours my occupation would be gone. The business of the journalist is to destroy the truth, to lie outright, to pervert, to vilify, to fawn at the feet of mammon, and to sell his country and his race for his daily bread.

The above speak 99.999% true for any news media and IB report claimed of “Independent and free press”

For example let’s examine what omission/commission or highlighted/ignored by free and independent media report on MRDIY:

PETALING JAYA: The RM1.5bil initial public offering (IPO) of Main Market-bound MR DIY Group (M) Bhd has been oversubscribed by retail investors as well as Malaysian and foreign institutional funds by 3.91 times.
The home improvement retailer’s IPO involves the offer of up to 941.49 million shares, with institutional investors taking up 779.96 million shares and the remaining 161.53 million shares going to retail investors.

“For the balloting in respect of the applications received from the Malaysian public, a total of 9,244 applications for 133.93 million issue shares with a value of RM214.29mil were received, representing an oversubscription of 0.07 times.

What was NOT highlighted-

Retail investor balloting:

1 retail investor successful applied for 9 million shares (8.40%)
1 retail investor successful applied for 25 million shares (23.34%)

Can a retail investor have so much money to apply for 9 or 25 million shares?

Is The Balloting manipulated by the Promoters?

Key insights into weekly flows (12/4-16/4)- CGS-CIMB


 Last week’s flows marked the first weekly net buying by local institution investors in 2021, a positive.

 Local institution investors also emerged as the largest net buyers of equities and the healthcare sector.

 Local institutional investors’ top three net buy stocks last week were Supermax, Top Glove and Hartalega.

Mr DIY Borrowed from Banks to Pay Dividends.
-----------------------------------------------
RM500 million in cash dividend was paid out to shareholders in the last financial year prior to the planned IPO. This dividend payout was partially funded by borrowings. That is a 5% dividend yield on the proposed IPO price of RM1.60.
Near to mid-term dividend payout will definitely not be of similar yield.

IPO prospectus noted a dividend

Possible rotation to healthcare CNBC says


https://www.youtube.com/watch?v=_c3F8kvWtyE

Mr DIY's market cap is more than Genting Malaysia - Really?

GENM - RM 16 billion

MR. DIY- RM 25 billion.

Yes it's true - the Hardware shop is valued more then Genting- mind boggling.

A long list of related parties transactions and conflicts of interest were disclosed in the IPO prospectus.


A key one being, controlling shareholders hold controlling interest in entities for MR D.I.Y. branded retail operations elsewhere including Thailand, Singapore, Indonesia, Philippines, Cambodia, Laos, and more. They have also licensed the use of the brand to third party for retail operations in India.
These overseas operations are not consolidated into the current to-be-listed entity. The current to-be- listed entity only for MR DIY’ Malaysia and Brunei Business.

MDGM’s FY20 core PATAMI of RM349.9m (+6.8% YoY) was above both ours and consensus expectations at 107.6% and 111.0%, respectively.

The positive results surprise was due to better-than-expected SSSG and lower-than-expected effective tax rate. After factoring in slightly higher SSSG, our FY21/22 forecasts are increased by 2.0%/1.5%. Along with the rolling over our valuation year to FY22 (from mid-FY22), our TP rises from RM3.33 to RM3.81 based on an unchanged 40x PE multiple.


What are the omission/commission or highlighted/ignored by IB?

Why using unchanged 40XPE?

What will be the total addressable market in Malaysia and Brunei?

What will be the terminal growth rate?

With only 161.53 million shares going to retail investors is the current shares price CORNERED by the institutional investors?

Among the notable institutional investors in MR DIY’s IPO exercise are BlackRock, JPMorgan Asset Management, Aberdeen Standard, AIA, FIL Investment Management and Pictet Asset Management.

More interesting facts about the Dodgy Mr DIY.

https://klse.i3investor.com/blogs/Sslee_blog/2021-02-26-story-h1541916706-MRDIY_Can_Media_and_IB_report_be_independent_and_free.jsp

A) The total IPO offering is 941,490,000 shares or 15% stake on the enlarged number of shares post IPO, and the breakdown as follows:

753,090,000 existing shares to be sold by existing shareholders to Institutional Investors. Existing shareholders are exiting around 12% of their pre-IPO stake, by offering 753,090,000 existing shares to Institutional Investors.
188,400,000 new shares are issued to mostly Retail Investors (85.7% of the offering), with the IPO proceeds (RM301.4 million) being used to pare down borrowings (RM 276.1 million) and pay for IPO expenses (RM25.3 million).
This IPO is clearly more of an exit event for existing shareholders, than a fund raise for the next phase of growth

(B) 6 months share sale moratorium applicable for the remaining controlling stake held by the founder's family, via Bee Family Limited and:

Hyptis / Creador, remaining 15.2% stake (959,873 shares) post IPO can be sold of the market with the written consent of the Joint Book runners. (otherwise there is a 6 months restriction period post IPO)
Platinum Alphabet / Gan Choon Leng and Tan Gaik Hoon remaining 6.9% stake (433,842 shares) post IPO can be sold of the market with the written consent of the Joint Book runners (otherwise there is a 3 months restriction period post IPO)..

(C) Existing shareholders have paid themselves in favorable manner prior to the IPO.

RM90 million cash spent on purchasing MR D.I.Y. in Brunei, which consist of 4 stores. This was also partially funded by borrowings. This is equivalent to RM25 million per store. Compare that to the IPO pricing of RM14.9 million per store.
RM500 million in cash dividend was paid out to shareholders in the last financial year prior to the planned IPO. This dividend payout was partially funded by borrowings. That is a 5% dividend yield on the proposed IPO price of RM1.60.
Near to mid-term dividend payout will definitely not be of similar yield. IPO prospectus noted a dividend

And there are IBs such as AmInvest giving a TP of Rm4.48

Obvious AmInvest is PAID to give such a ridiculous TP.

Perhaps SC /BURSA should haul up AmInvest for misleading the investing Public.with such poorly presented report.

Fully agree !

Posted by pjseow > Apr 19, 2021 8:04 PM | Report Abuse

What is so good about DIY fundamentally? It was just listed and had a 2 qtr history of financial results. Which. MRDIY business fundamentals are better than supermx? Growth.rate for the past 5 years? Cash.position? Nett Margin, ROE? Future earning. potential? Technological advantages? Workdwide.customer base ? I cant see any of these can beat supermx. DIY is definetely.overpriced . If such a company with these fundamentals can have a PE.of 60 , then.supermx deserved a PE.of 100