Game will be over swiftly for SHORTIES when -

1-EPF decides or request for return of loaned TG shares.

2-SC decides to suspend RSS.

RSS may be viewed as an avenue for foreigners to attack Malaysia's biggest corp-tax payers ie the Glove sector.

Just my 2 cents.

Supermax market price is expected to reach RM7-80 by the 3rd Week of May- thus maintaining its position in the Composite Index.

Yup Mr DIY ( Hardware Shop selling cheap tools from China) is a highly rigged stock by Creator investors by deceiving a large pool of foreign investors who are trapped in this stock.

Mr DIY - PE ratio is 65

Chile has one of the world’s best vaccination rates. Covid is surging there anyway
-----------------------------------------------------------------------------------

PUBLISHED MON, APR 19 2021.-CNBC

KEY POINTS

Chile has endured a sharp uptick in Covid infections in recent weeks, even with its world-renowned vaccine rollout and strict lockdowns in place.

A study published by the University of Chile earlier this month reported that CoronaVac was 56.5% effective two weeks after the second doses were administered in the country. Crucially, however, they also reported that one dose was only 3% effective.

“I cannot stress this enough — for most countries, vaccines are not going to stop this wave of the pandemic,” Carissa Etienne, director of PAHO, said during a weekly press briefing on Wednesday.

https://klse.i3investor.com/blogs/bursainvestments/2021-04-19-story-h1563396765-Nominee_Account_and_Short_Selling_A_Matter_to_Consider.jsp

https://klse.i3investor.com/blogs/bursainvestments/2021-04-19-story-h1563396765-Nominee_Account_and_Short_Selling_A_Matter_to_Consider.jsp

https://klse.i3investor.com/blogs/bursainvestments/2021-04-19-story-h1563396765-Nominee_Account_and_Short_Selling_A_Matter_to_Consider.jsp

https://klse.i3investor.com/blogs/bursainvestments/2021-04-19-story-h1563396765-Nominee_Account_and_Short_Selling_A_Matter_to_Consider.jsp

From the looks of it Rakuten is happily lending TG shares to SHORTIES/JP Morgan. I will not trade under Rakuten trading platform in future as I don't approve of such revolting practice.

Thanks Ben for the article.

Rising Covid-19 cases, slow vaccination efforts could lead to pullback in market — CGS-CIMB

April 19, 2021 10:42 am

CGS-CIMB Research said concerns over the rising number of Covid-19 cases as well as slower vaccination efforts could lead to a pullback in the market.

In a strategy note today, it said the recent increase in Covid-19 cases and the infectivity rate had raised concerns that movement may be restricted in selected areas, and that the interstate travel ban would be prolonged, adding that this could impact the pace of the economic and corporate earnings recovery.

This is a major setback for recovery stocks- particularly Banks, Genting & Air Asia.

@ Dagnarus- you are absolutely correct.!

Not sure if selling into strength is a good strategy since this is just beginning. Would be fine towards the tail end of a run, but at the beginning? That's just a folly

A second moratorium on loans is imminent to help alleviate the financial difficulties of all Malaysians in this difficult times.

As per reliable sources, JPM is willing to pay the highest interest of 8 % to borrow TG shares, indirectly it means investors are holding onto TG shares, and not willing to loan out.

Can we thus conclude it is costlier and more risky to short TG shares.

SHORTIES in deep Shit - as they run out of ammunition to SHORT the BIG 4 esp TopGlove.
---------------------------------------------------------------------------
It would be interesting to see how much SHORTIES can borrow during this weekend to initiate further short volume and by how much the bull can defend. New funds from investors are flowing to the Glove sector as the TA charts shows an UPTREND. What has been gathered so far from the market is that, they are running out of shares to borrow.

Imagine if you are a SHORTY and you run out of shares to short and TG still inch higher day by day, that's some huge accumulating loss for SHORTIES. If TG reach Rm7.30 - that's about 420mil loss . This is without taking into account share price from other three namely Super, Kossan & Harta.

It would be really be a surprise if the risk manager(s) allow maximum pain scenario to happen without any hedging at all. And what make matters worst for them is they do not have other derivatives instrument to hedge against their current position. Such as buying long call options or bull vertical spread which are not available in our local market.

Max Pain scenario for SHORTIES on Big 4 gloves should be around -600mil to -800mil. That's when TG 8, Harta 13, Super 8.5, Kossan 5.

If we can see these prices, then they have to cover, which will push gloves ever further.

It all depends how much pain or rather loss the shorties are willing to take.

SHORTIES in deep Shit - as they run out of ammunition to SHORT the BIG 4 esp TopGlove.
---------------------------------------------------------------------------
It would be interesting to see how much SHORTIES can borrow during this weekend to initiate further short volume and by how much the bull can defend. New funds from investors are flowing to the Glove sector as the TA charts shows an UPTREND. What has been gathered so far from the market is that, they are running out of shares to borrow.

Imagine if you are a SHORTY and you run out of shares to short and TG still inch higher day by day, that's some huge accumulating loss for SHORTIES. If TG reach Rm7.30 - that's about 420mil loss . This is without taking into account share price from other three namely Super, Kossan & Harta.

It would be really be a surprise if the risk manager(s) allow maximum pain scenario to happen without any hedging at all. And what make matters worst for them is they do not have other derivatives instrument to hedge against their current position. Such as buying long call options or bull vertical spread which are not available in our local market.

Max Pain scenario for SHORTIES on Big 4 gloves should be around -600mil to -800mil. That's when TG 8, Harta 13, Super 8.5, Kossan 5.

If we can see these prices, then they have to cover, which will push gloves ever further.

'Double mutant' variant emerging from India might be more contagious: WHO official

Updated 14:20, 17-Apr-2021

A "double mutant" COVID-19 variant that emerged in India could bring about "increased transmissibility" or even "reduced neutralization" due to the specific mutations that it contains, a World Health Organization (WHO) official said on Friday.

https://news.cgtn.com/news/2021-04-17/-Double-mutant-variant-emerging-from-India-might-be-more-contagious-ZwVjR0ALAc/index.html

Covid-19: In Brazil, young people have become the variant's prime targets

Issued on: 17/04/2021 - 12:16

Brazil's intensive care doctors have seen more and more young patients arriving at their wards in recent months, with one in two under 40 years old. The new, more contagious Brazilian variant, known as P1, seems to be affecting younger people with no pre-existing comorbidities.

More than half the patients in Brazilian intensive care units in March were under 40 years old, according to the Brazilian Association of Resuscitation Physicians. The more contagious Covid-19 variant known as P1 is claiming younger victims every day, many with no prior medical issues.

Between January and March the death toll among those between 30 and 39 jumped 353 percent, according to the latest report from the Covid-19 Observatory. At the headquarters of the Fiocruz medical institute, chief pulmonologist Margareth Dalcolmo, who is coordinating the study on the new variant, says not a day goes by without seeing more alarming numbers. And one key question: Why does the Brazilian variant claim more victims among young people?

Dalcolmo and her colleagues already have some clues. "The profile of seriously ill patients has changed. First, because of the evolution of the pandemic and the lack of lockdown measures, we see more and more young people in the streets. They are the ones who have to go to work and who cannot stand the absence of a social life any longer. So they meet in bars,” she says.

In short, Dalcolmo says, it is not that the new variant prefers young people, but it is the youth who go out and are therefore more exposed.

Stockraider invariably speak thru his rear end and thinks he is brilliant. lol.

Fantastic News for TOP GLOVES- Naysayers will la0sai.

Top Glove MD says it has remediated five forced labour indicators

Author: savemalaysia

SHAH ALAM, April 16 — Top Glove Corporation Bhd is currently in the third stage of the US Customs and Border Protection (US CBP) Withhold Release Order (WRO) modification process.

Managing director Datuk Lee Kim Meow said the company has remediated the remaining five forced labour indicators, pending verification by UK based ethical trade consultant firm, Impactt.

The International Labour Organisation has 11 indicators for best practices.

A YEAR has elapsed and the world is currently facing a resurgence of covid 19, in fact the numbers are registering new highs each day- even with the rollout of vaccines.

What does this say ?

1- Covid 19 will be around for a very long time.

2- Vaccines are not a cure - it does help by reducing the mortality rate. Thank God for this.

3- More deadly and virulent strains from mutations are on the rise and may render existing vaccines ineffective. To survive the virus mutates in to strains that may escape the defence brought about by vaccines.

4- Too much greed in this world especially the rich nations depriving the poor nations affordable vaccines- this will render herd immunity for the world impossible.

5- Premature opening up of economies by most countries and the believe that rollout of vaccines will just ward off the virus. This false sense of security is disturbing.

6- Refusal to adhere to SOPs- particularly in western countries.

JP Morgan and their cohorts just refuse to accept the above and is so determined to destroy Malaysia most valuable sector ie GLOVES. .

It is very sad that they have found willing lenders of shares ie EPF the main betrayer to lend their shares to JPM to forcibly bring down the value of the Big 4. EPF you have blood on your hands and should be brought to justice.

Demand for PPEs especially Gloves will be elevated for a long time. The world is currently facing an acute shortage and is going to persist for a long time- even with new and expanded capacities

As Malaysians, we should all be united and act against these Foreign Manipulators-JPM.

Gov’t must consider a second moratorium for loans
Author: savemalaysia | Publish date: Sun, 18 Apr 2021, 9:01 AM

Not much has changed since the first movement control order (MCO) came into effect in March 2020. In fact, the country is still facing restricted movement and a slew of other restrictions that are affecting workers and businesses in various sectors of the economy, all in a negative way.

Amid the nation’s struggle to get the third wave of the COVID-19 infections under control (and with a fourth wave looming over our heads), it is only a given that people are increasingly wondering about the possibilities of the Government introducing another moratorium on loan repayment.

Gov’t must consider a second moratorium for loans
Author: savemalaysia | Publish date: Sun, 18 Apr 2021, 9:01 AM

Not much has changed since the first movement control order (MCO) came into effect in March 2020. In fact, the country is still facing restricted movement and a slew of other restrictions that are affecting workers and businesses in various sectors of the economy, all in a negative way.

Amid the nation’s struggle to get the third wave of the COVID-19 infections under control (and with a fourth wave looming over our heads), it is only a given that people are increasingly wondering about the possibilities of the Government introducing another moratorium on loan repayment.

Gov’t must consider a second moratorium for loans
Author: savemalaysia | Publish date: Sun, 18 Apr 2021, 9:01 AM

Not much has changed since the first movement control order (MCO) came into effect in March 2020. In fact, the country is still facing restricted movement and a slew of other restrictions that are affecting workers and businesses in various sectors of the economy, all in a negative way.

Amid the nation’s struggle to get the third wave of the COVID-19 infections under control (and with a fourth wave looming over our heads), it is only a given that people are increasingly wondering about the possibilities of the Government introducing another moratorium on loan repayment.

Gov’t must consider a second moratorium for loans
Author: savemalaysia | Publish date: Sun, 18 Apr 2021, 9:01 AM

Not much has changed since the first movement control order (MCO) came into effect in March 2020. In fact, the country is still facing restricted movement and a slew of other restrictions that are affecting workers and businesses in various sectors of the economy, all in a negative way.

Amid the nation’s struggle to get the third wave of the COVID-19 infections under control (and with a fourth wave looming over our heads), it is only a given that people are increasingly wondering about the possibilities of the Government introducing another moratorium on loan repayment.

Gov’t must consider a second moratorium for loans
Author: savemalaysia | Publish date: Sun, 18 Apr 2021, 9:01 AM

Not much has changed since the first movement control order (MCO) came into effect in March 2020. In fact, the country is still facing restricted movement and a slew of other restrictions that are affecting workers and businesses in various sectors of the economy, all in a negative way.

Amid the nation’s struggle to get the third wave of the COVID-19 infections under control (and with a fourth wave looming over our heads), it is only a given that people are increasingly wondering about the possibilities of the Government introducing another moratorium on loan repayment.

Gov’t must consider a second moratorium for loans
Author: savemalaysia | Publish date: Sun, 18 Apr 2021, 9:01 AM

Not much has changed since the first movement control order (MCO) came into effect in March 2020. In fact, the country is still facing restricted movement and a slew of other restrictions that are affecting workers and businesses in various sectors of the economy, all in a negative way.

Amid the nation’s struggle to get the third wave of the COVID-19 infections under control (and with a fourth wave looming over our heads), it is only a given that people are increasingly wondering about the possibilities of the Government introducing another moratorium on loan repayment.

https://klse.i3investor.com/blogs/savemalaysia/2021-04-18-story-h1563369116-Gov_t_must_consider_a_second_moratorium_for_loans.jsp

https://klse.i3investor.com/blogs/savemalaysia/2021-04-18-story-h1563369116-Gov_t_must_consider_a_second_moratorium_for_loans.jsp

https://klse.i3investor.com/blogs/savemalaysia/2021-04-18-story-h1563369116-Gov_t_must_consider_a_second_moratorium_for_loans.jsp

https://klse.i3investor.com/blogs/savemalaysia/2021-04-18-story-h1563369116-Gov_t_must_consider_a_second_moratorium_for_loans.jsp

https://klse.i3investor.com/blogs/savemalaysia/2021-04-18-story-h1563369116-Gov_t_must_consider_a_second_moratorium_for_loans.jsp

https://klse.i3investor.com/blogs/savemalaysia/2021-04-18-story-h1563369116-Gov_t_must_consider_a_second_moratorium_for_loans.jsp

https://klse.i3investor.com/blogs/savemalaysia/2021-04-18-story-h1563369116-Gov_t_must_consider_a_second_moratorium_for_loans.jsp

A YEAR has elapsed and the world is currently facing a resurgence of covid 19, in fact the numbers are registering new highs each day- even with the rollout of vaccines.

What does this say ?

1- Covid 19 will be around for a very long time.

2- Vaccines are not a cure - it does help by reducing the mortality rate. Thank God for this.

3- More deadly and virulent strains from mutations are on the rise and may render existing vaccines ineffective. To survive the virus mutates in to strains that may escape the defence brought about by vaccines.

4- Too much greed in this world especially the rich nations depriving the poor nations affordable vaccines- this will render herd immunity for the world impossible.

5- Premature opening up of economies by most countries and the believe that rollout of vaccines will just ward off the virus. This false sense of security is disturbing.

6- Refusal to adhere to SOPs- particularly in western countries.

JP Morgan and their cohorts just refuse to accept the above and is so determined to destroy Malaysia most valuable sector ie GLOVES. .

It is very sad that they have found willing lenders of shares ie EPF the main betrayer to lend their shares to JPM to forcibly bring down the value of the Big 4. EPF you have blood on your hands and should be brought to justice.

Demand for PPEs especially Gloves will be elevated for a long time. The world is currently facing an acute shortage and is going to persist for a long time- even with new and expanded capacities

As Malaysians, we should all be united and act against these Foreign Manipulators-JPM.

A YEAR has elapsed and the world is currently facing a resurgence of covid 19, in fact the numbers are registering new highs each day- even with the rollout of vaccines.

What does this say ?

1- Covid 19 will be around for a very long time.

2- Vaccines are not a cure - it does help by reducing the mortality rate. Thank God for this.

3- More deadly and virulent strains from mutations are on the rise and may render existing vaccines ineffective. To survive the virus mutates in to strains that may escape the defence brought about by vaccines.

4- Too much greed in this world especially the rich nations depriving the poor nations affordable vaccines- this will render herd immunity for the world impossible.

5- Premature opening up of economies by most countries and the believe that rollout of vaccines will just ward off the virus. This false sense of security is disturbing.

6- Refusal to adhere to SOPs- particularly in western countries.

JP Morgan and their cohorts just refuse to accept the above and is so determined to destroy Malaysia most valuable sector ie GLOVES. .

It is very sad that they have found willing lenders of shares ie EPF the main betrayer to lend their shares to JPM to forcibly bring down the value of the Big 4. EPF you have blood on your hands and should be brought to justice.

Demand for PPEs especially Gloves will be elevated for a long time. The world is currently facing an acute shortage and is going to persist for a long time- even with new and expanded capacities

As Malaysians, we should all be united and act against these Foreign Manipulators-JPM.

Lets recap from early Dec 20, when JP Morgan downgraded TG to TP of Rm3.50 .

Now after 4 months.......

a) Are international borders open?

b) Has the testing rate reduced?

c) Vaccination rate satisfactory?

d) Herd Immunity achievable?

e) Conclusive sign of pandemic/endemic is under control?

f) Can JP Morgan confirm there would not be new variants to cause 4th, 5th or 6th wave of Covid 19?

f) Any idea/indication on all the above by JP Morgan to when the publish the report on glove counters price target yesterday?


JP morgan taking Malaysain retailers for a ride again.

Covid infection rate is approaching highest level ever, WHO chief warns
---------------------------------------------------------------

APR 16 2021

The head of the World Health Organization said Friday that an alarming rise in Covid cases has pushed global infections toward their highest level in the pandemic.

https://www.cnbc.com/2021/04/16/covid-who-chief-warns-infection-rate-approaching-highest-level-so-far.html

@katsul51- well said !


Lets recap from early Dec 20, when JP Morgan downgraded TP price to RM 3.50 since then after 4 months:

a) Are international borders open?
b) Has the testing rate reduced?
c) Vaccination rate satisfactory?
d) Herd Immunity achievable?
e) Conclusive sign of pandemic/endemic is under control?
f) Can JP Morgan confirm there would not be new variants to cause 4th, 5th or 6th wave of Covid 19?
f) Any idea/indication on all the above by JP Morgan to when the publish the report on glove counters price target yesterday?


JP morgan taking Malaysain retailers for a ride again.

Malaysia Fades in Covid Fight

Competing companies, tardy procurement, low signup rates plague country

John Berthelsen

Malaysia, which early on in the fight against the Covid-19 coronavirus was one of Asia’s leaders, has begun to slip back, with at least some vaccine procurement seemingly diffused among competing parties thought to be aligned with top politicians, ostensibly illegal shots for royalty, low signup rates due to fears of blood clots, and sharply rising new cases.

Malaysia isn’t alone. Cases are surging across much of Southeast Asia, for instance in Brunei, Cambodia, Thailand, and other countries although all are far behind Indonesia and Philippines. With nearly more than 9,000 cases in the past week, Malaysia’s weekly rise has hit 35 percent during that period, according to statistics compiled by the website Worldometer.


https://www.asiasentinel.com/p/malaysia-fades-in-covid-fight

All signs point to 4th virus wave in Malaysia
-----------------------------------------
Author: savemalaysia | Publish date: Sat, 17 Apr 2021, 2:28 PM

All indications suggest that the dreaded fourth wave of the Covid-19 pandemic, which the authorities have predicted to hit Malaysia soon, is already here.

With new Covid-19 cases rising to more than 2,000 for two days in a row, experts believe that the fourth wave could be well underway and it was critical that standard operating procedures (SOP) were complied with to prevent even bigger infection numbers.

Dr Malina Osman, an epidemiologist and associate professor in Universiti Putra Malaysia (UPM), believed that the fourth wave had begun on April 9.

JPM is in for a good roasting and they bloody well deserve it. Thanks Ben for the excellent write up.

JP Morgan is running scared and has sounded the PANIC Button.
----------------------------------------------------------------
Heres proof-

1-The current uptrend in Gloves is confirmed and has just begun. The experts say - never fight and up trending sector/stock.

2-The Edge, on April 15, was roped in by JP Morgan to reconfirmed their price targets for the 3 glove companies under their coverage since December 2020. A reminder that the infamous price targets are: Top Glove: RM3.50; Hartalega: RM8.50; Kossan: RM3.80.

3-Big money flowing back to Gloves.

Last week, the amount of money thrown at the "big gloves" short position since its opening on January 4, crossed the RM3 billion mark. The total value of short positions opened since the beginning of the year on any stock on Bursa is a little over RM4.3 billion, so the short positions on Top Glove, Hartalega, Kossan, and Supermax represent 71% of the entire value of short positions on Bursa

4-Shorties Paper Profit Dwindling- If GLOVES keep surging - the stand to lose hundreds of millions.

5-JPM's Misleading ASP estimates
.
JP Morgan have provided their blended ASP estimates for calendar year 2022. Interestingly, they believe that all 3 companies are going to have the exact same blended ASP, even though they manufacture a very different mix of products, they have very different target markets and main clients. Nevertheless, their estimate for all 3 companies for CY2022 is for a blended ASP of US$30. According to Frost & Sullivan, the ASP for nitrile gloves in CY2022 is going to be US$53.50, and for latex gloves it is going to be US$26.50

6- WRO to be uplifted soon by the USA Customs , Border & Protection - as all remaining 5 issues has been rectified- pending verification.

MR D.I.Y. Group (M) Berhad
---------------------------
Affin Hwang

1-Mr DIY registered a core net profit of RM113.5m (+54% yoy) for 3Q20, on the back of higher store count and a pent-up sales recovery post-lockdown.

2-That said, earnings downside remains a risk in the subsequent quarters, considering:

i) sporadic lockdown measures,

ii) potential margin compression from accelerated store openings and

iii) restocking activities trickling off.

3-We retain our cautious stance given the potentially volatile earnings delivery amid a challenging retail environment.


Maintain SELL

The issue revolving around AMMB’s private placement By Devanesan Evanson
---------------------------------------------------------------------------

FOLLOWING its April 1 announcement to call for a proposed private placement exercise – which was a surprise for the market, AMMB Holdings Bhd (AMMB) again reached out to the Minority Shareholders Watch Group (MSWG) to address our concerns and queries. MSWG met AMMB at 4.30pm on April 2 – the day after the announcement.

(AMMB had earlier reached out to MSWG to address concerns regarding the RM2.83 bil settlement related to 1Malaysia Development Bhd [1MDB]).

On the same day, along with the announcement on the placement, the banking group also announced that it is undertaking an assessment of goodwill to ascertain the value of impairment that will be reflected in its financial results for the fourth quarter ended March 31.

AMMB also met other shareholder and stakeholder groups to address concerns on the placement exercise and the assessment of goodwill.

Why not a rights issue?

Earlier, on the morning of the announcement (April 1), the Minority Shareholders Watch Group (MSWG) commented that a placement exercise will affect the interest of minority shareholders in terms of shareholding dilution and will deprive minority shareholders from enjoying future upside in the share price, in view that the RM2.70 illustrative placement price was at a discount of 9.77% compared to the five-day volume weighted average price.

It has now been determined that the placement price will be RM2.75 – and the closing price of the share at the time of writing (April 8) was RM3.15.

The market was given to understand that the bank remained resilient and unstressed after accounting for the effects of the RM2.83 bil settlement. Thus, the placement exercise came as a surprise to the market.

AMMB’s justification for the placement

AMMB explained that the implementation of the private placement was to further strengthen AmBank Group’s capital base by accelerating the build-up of its Core Equity Tier 1 capital.

During our meeting with AMMB, AMMB’s management stressed that a rights issue carries substantial downside risks.

Firstly, its two major shareholders would be unable to take up their respective rights allocation due to shareholding caps imposed by the regulators.

It was also highlighted that apart from the two major shareholders, another shareholder holding a substantial block also indicated that they will not be able to participate in the rights issue as they have fully invested.

Secondly, a placement can raise funds expeditiously and is less costly compared to a rights issue,

Thirdly, with the risk of such major undersubscription, the underwriters of the rights issue would have demanded higher fees to compensate for their underwriting risks and this would drive rights issue costs higher.

Fourthly, AMMB will be diligent in the selecting of placees in that they will try to identify placees who will be able to value-add to the banking group.

Fifthly, a placement would bring in the funds sooner than a rights issue. Thus, the timely replenishment of capital may also lead to earlier rating upgrade of AmBank Group’s rating by rating agencies.

(Last month, RAM Rating Services Bhd downgraded the credit ratings of AmBank Group and its subsidiaries to AA3 from AA2, due to the RM2.83 bil global settlement related to 1MDB).

Based on the reasons given in support of a placement in lieu of a rights issue, MSWG can understand the rationale for the placement.

It is unfortunate that this rationale was not available in the announcement made by AMMB through Bursa Malaysia and/or the press release.

It would have pre-empted the question ‘why a placement and not a rights issue’ and AMMB could have avoided the need to reach out to the various shareholder and stakeholder groups individually to explain their rationale for the placement. – April 12, 2021



Devanesan Evanson is the CEO of the Minority Shareholders Watch Group (MSWG).

40 health workers have contracted Covid-19 after completing their vaccination doses, health director-general Dr Noor Hisham Abdullah said today.

In a Facebook post, Noor Hisham said 31 of them were infected less than 14 days after receiving the second dose, while nine contracted the virus more than two weeks later.

Meanwhile, some 142 health workers were infected after the first dose of the vaccine, before their second shot.

TG- All Remaining labour issues remediated & to be verified next week- WRO to be uplifted soon
-----------------------------------------------------------------------------------------

SHAH ALAM, April 16 — Top Glove Corporation Bhd is currently in the third stage of the US Customs and Border Protection (US CBP) Withhold Release Order (WRO) modification process.

Managing director Datuk Lee Kim Meow said the company has remediated the remaining five forced labour indicators, pending verification by UK based ethical trade consultant firm, Impactt.

The International Labour Organisation has 11 indicators for best practices.

As verified by Impactt, Top Glove, the world’s largest glove maker has achieved six As and 5Bs.

The 5Bs need to be converted into 5As for the US CBP to lift the WRO on it.

“The United Kingdom independent consultant, Impactt, is expected to give us the report by early next week. Then we will engage with the US CBP again to let them know that we have done exactly what they have asked us so that they can uplift the WRO, which is the fourth and final phase.



This is a big boost for TG and the glove sector in general.
--------------------------------------------------------

JP MORGAN back with their Shameless Manipulation of the Gloves sector.- Round 2

According to reliable calculations the average shorted price minus the paid-out dividends (i.e. the theoretical breakeven price for the short-seller) for each of the glove companies is:

Top Glove:.......... RM5.46
Hartalega:...........RM10.86
Kossan:...............RM3.88
Supermax:...........RM5.43

JP MORGAN is going to lose hundreds of millions if TG continues surging- as they have shorted close to 251,555,667 or 3.07% of Top Glove shares

JP Morgan as usual will rope in their running dogs ie The Edge & China Press to give bad publicity to the Glove sector and TG in particular.

The Glove uptrend will continue on Monday as the investing public are aware of JPM antics.

JP Morgan - the world's most notorious/proven Market Manipulator.

JP MORGAN back with their Shameless Manipulation of the Gloves sector.- Round 2

According to reliable calculations the average shorted price minus the paid-out dividends (i.e. the theoretical breakeven price for the short-seller) for each of the glove companies is:

Top Glove:.......... RM5.46
Hartalega:...........RM10.86
Kossan:...............RM3.88
Supermax:...........RM5.43

JP MORGAN is going to lose hundreds of millions if TG continues surging- as they have shorted close to 251,555,667 or 3.07% of Top Glove shares

JP Morgan as usual will rope in their running dogs ie The Edge & China Press to give bad publicity to the Glove sector and TG in particular.

The Glove uptrend will continue on Monday as the investing public are aware of JPM antics.

JP Morgan - the world's most notorious/proven Market Manipulator.

LATEST ON GLOVES SECTOR

Demand Remain Robust

Massive resurgence of Covid 19

Citing the World Health Organization, Bloomberg reported that Europe has surpassed one million deaths from Covid-19 and the situation remains “serious”, with about 1.6 million new cases reported each week in the region. Malaysia also saw the new Covid-19 cases increased further yesterday to breach the 2,000 mark with 2,148 cases. The last time the country registered daily new infections above the 2,000 mark was on March 5 with 2,154 cases.


ASP - Still Strong

However, we do not expect ASP to fall off a cliff despite average lead time being reduced from 300 days in early Jan 2021 to 200 days currently, compared to 20-30 days pre-COVID-19 supported by post-pandemic demand growth averaging 15%-20% per annum. ASP trend is expected to soften next year albeit at a slow pace on the back of still robust demand. Malaysian glove players which commands 68% global market share and have consistently evolve and innovate in terms of capacity, products and plant modernization via automation.

Global demand growth at 15-20% per annum post-COVID-19.

According to the Malaysian Rubber Glove Manufacturers Association, the global shortage of rubber gloves will sustain beyond 1Q 2022 with growth rate averaging between 15% and 20% per annum going forward compared to pre-COVID-19 of 8%-10%.

Heightened Hygiene Awareness

Heightened hygiene awareness extending beyond the healthcare sector. Incremental volume growth is expected from new users of examination rubber gloves including nitrile and latex-based ones.

LATEST ON GLOVES SECTOR

Demand Remain Robust

Massive resurgence of Covid 19

Citing the World Health Organization, Bloomberg reported that Europe has surpassed one million deaths from Covid-19 and the situation remains “serious”, with about 1.6 million new cases reported each week in the region. Malaysia also saw the new Covid-19 cases increased further yesterday to breach the 2,000 mark with 2,148 cases. The last time the country registered daily new infections above the 2,000 mark was on March 5 with 2,154 cases.


ASP - Still Strong

However, we do not expect ASP to fall off a cliff despite average lead time being reduced from 300 days in early Jan 2021 to 200 days currently, compared to 20-30 days pre-COVID-19 supported by post-pandemic demand growth averaging 15%-20% per annum. ASP trend is expected to soften next year albeit at a slow pace on the back of still robust demand. Malaysian glove players which commands 68% global market share and have consistently evolve and innovate in terms of capacity, products and plant modernization via automation.

Global demand growth at 15-20% per annum post-COVID-19.

According to the Malaysian Rubber Glove Manufacturers Association, the global shortage of rubber gloves will sustain beyond 1Q 2022 with growth rate averaging between 15% and 20% per annum going forward compared to pre-COVID-19 of 8%-10%.

Heightened Hygiene Awareness

Heightened hygiene awareness extending beyond the healthcare sector. Incremental volume growth is expected from new users of examination rubber gloves including nitrile and latex-based ones.