Only monkeys can see the news cover by JPM

When did JPM cover or mention Supermax?

WOW MonkeyMakers bravo to salute

7106 SUPERMX SUPERMAX CORPORATION BHD
Quarterly rpt on consolidated results for the financial period ended 30/09/2021
Quarter: 1st Quarter
Financial Year End: 30/06/2022
Report Status: Unaudited
Submitted By:

Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period
30/09/2021 30/09/2020 30/09/2021 30/09/2020
RM '000 RM '000 RM '000 RM '000
1 Revenue 1,455,660 1,352,537 1,455,660 1,352,537
2 Profit/Loss Before Tax 930,851 1,049,242 930,851 1,049,242
3 Profit/Loss After Tax and Minority Interest 638,524 789,516 638,524 789,516
4 Net Profit/Loss For The Period 666,327 812,485 666,327 812,485
5 Basic Earnings/Loss Per Shares (sen) 24.60 30.58 24.60 30.58
6 Dividend Per Share (sen) 0.05 0.00 0.05 0.00
As At End of Current Quarter As At Preceding Financial Year End
7 Net Assets Per Share (RM) 1.9100 1.8200


Remarks:
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com



17/11/2021 06:59 PM


Ref Code: 202111173100364

Wednesday, 17 Nov 2021

7:06PM SUPERMX Appointment of SUNG FONG FUI As Others
7:06PM SUPERMX Redesignation of ALBERT SAYCHUAN CHEOK As Others
7:06PM SUPERMX Resignation of TING HENG PENG As Others
7:05PM SUPERMX Appointment of SUNG FONG FUI As Others
7:05PM SUPERMX Redesignation of ALBERT SAYCHUAN CHEOK As Others
7:05PM SUPERMX Appointment of THAI KIM SIM As Others
7:04PM SUPERMX Interim Dividend
6:59PM SUPERMX 1Q net profit 666.327 million (decreased 17.99%)

The Supermax Group had embarked on its undertaking to meet the International Labour Organisation (ILO) standards on migrant workers since 2019. The process has well started and Supermax is surprised that due consideration has not been given to the fact that corrective steps have started and improvements made to labour welfare. We will speed up the process to come to meeting the ILO standards.



The Canadian market represents approximately 9% of the Group’s total market and the market share fluctuates based on successful tender awards for each year.



The duration of the withholding of contract would also determine the extent of the adverse financial impact. However, the Company does not foresee any material impact operationally.



All other Personal Protective Equipment (PPE) products such as surgical face mask, glove imports from other suppliers, gowns and dental products which Supermax Canada is doing are not affected. Business operations on other PPEs is running on business as usual.



This announcement is dated 15 November 2021.

OTHERS Supermax Corporation Berhad ("SCB" or "the Company") - Pause in imports of Supermax gloves into Canada relates to contracts with the Federal Government of Canada
SUPERMAX CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
Supermax Corporation Berhad ("SCB" or "the Company") - Pause in imports of Supermax gloves into Canada relates to contracts with the Federal Government of Canada
Reference is made to The Edge Markets article titled “Canada pauses imports from Supermax over forced labour concerns” which appeared on 14 November 2021.



The Company wishes to announce that the headline of the media is misleading and not accurate. Only the Federal Government contract is on hold pending the submission of the audit report from an Independent Auditor. Currently, a US-based Independent Auditor is conducting the site audit and the report would be available for submission sometime in the 4th week of November 2021.

Convid are welcome to visit uncle K

sarcastic write up by kyy the goon

Grandma story my Dick

Putin: $100 Oil Is “Quite Possible”
By Tsvetana Paraskova - Oct 13, 2021, 11:00 AM CDT
It is “quite possible” that the WTI Crude oil prices reach $100 per barrel in light of growing global demand for energy commodities, Russian President Vladimir Putin said on Wednesday
Putin: Russia and its allies in the OPEC+ oil producer group want a stable oil market without any shock spikes in prices

Now all glove stocks is safe haven
All recovery stock esp Genting and AirAsia will crash

Sour Hai lor

Universe id just created for Ucrest 6th May

Summary
Total comments 34
Past 30 days 34
Past 7 days 29
Today 7

Strict MCO not good for economy and will affect BURSA badly
Finance Ministry might suspend RSS/SS to prevent composite index to tumble

This time MCO at least 2 months or more
Genting , AirAsia and recovery stocks all waterfall tomorrow onward

joyvest = Mrs Lim BJ sherlock

Mrs Lim good at BJ
Anybody interested

joyvest enjoying jii latt by young SherlockHolmes too

joyvest enjoying BJ with young SherlockHolmes

7896 the cow brain talking

As of now Supermax NBA 1.60 and cash in hand 1.40 per 1 k shares

PE 3.9 and the lowest among all listed glove company in Bursa and including Riverstone and UG in Singapore

Supermax will continue earn PAT at least 1 Billion per QTR for 3-6 QTR more
Maybe more than 3-6 QTR

How many company got 4 Billions cash in hand ?
With 0 loan

No buy or sell call consider scammer ?

Glove hater f c k off lah

Supermax better off without KLCI index inclusion

SINGAPORE (May 14): Singapore is returning to the lockdown-like conditions it last imposed a year ago, banning dining-in and limiting gatherings to two people, as a rising number of untraceable virus infections pressures one of the most successful places in the world at Covid-19 containment.

For four weeks from May 16 to June 13, gathering sizes as well as household visitors will be cut to a maximum of two people from five people now, working from home will be the default, and food places can only do takeaways and deliveries, the health ministry said in a statement on Friday. The resurgence is also putting a highly anticipated travel bubble with Hong Kong in doubt.

"A pattern of local unlinked community cases has emerged and is persisting," the statement said. "We need to act decisively to contain these risks as any one leak could result in an uncontrolled resurgence of cases."

https://www.theedgemarkets.com/article/singapore-return-lockdown-mode-one-month-cases-rise

7896 u r very a ssss hole

But the covid virus strain is not only mutated once a year, but once a month! All vaccines currently on the market were developed last year (mass production this year). The virus strains used and targeted during the research and development last year were all 6 months ago. But in the past 6 months, the virus strain has mutated 6-10 times. The current vaccine is ineffective against all these new variants of virus strains! Only valid for last year's virus strain.

So don't think you can eat and drink with outsiders everywhere after you get the vaccine! Or think that you will be immune after recovery, and you may be infected with another strain of the virus. It's just like the reason you have a cold this year and you will catch a cold next year. The strains of colds are different every year

6) The outbreak of the epidemic on major festivals is not because more people go to religious places or go shopping. In these scenes, since everyone wears a mask, no one will be infected even if there is an asymptomatic infected person in it! The key is: more people eat and drink at the same table with relatives and friends taking off their masks than usual. So usually there are 2-3 people at a table, so 1 person passes to 1 person, and there are 10 people at a big festival table, so 1 pass 10!

7) Almost 100% of the 400,000 confirmed cases in Malaysia are due to themselves or their family members who have been with outsiders in the near future, even if they have only eaten a meal, drank a glass of wine or coffee, and the other party is not aware Of asymptomatic infected persons!

8) Asymptomatic infection accounts for 80%. Therefore, in addition to the 400,000 confirmed cases, there are at least 1 million people in Malaysia who do not know that they have been infected, but their own immunity is strong, so they are asymptomatic, but they can still infect others!

9) Compared with last year, the current virus strain is more virulent, spreads faster, has a higher lethality rate, and does not work for all vaccines! So the next thing to focus on is the number of deaths per day! It's not just the number of confirmed cases.

10) Many people misunderstand the government's call for less going out. A person goes out every day-30 days a month, he goes out every day to buy food to pack, but he wears a mask from the time he leaves home until he returns home, then he is safe.

Another so-called less going out-staying at home for 29 days, only 1 day for eating, drinking and drinking coffee with relatives and friends (not in the same room). The risk of infection for this person who seldom goes out is far greater than that of buying every day The dishes are packed!

11) From a monetary point of view, government hospitals are full, and you can only refer you to private hospitals. At that time, you will find that any insurance policy you buy, regardless of medical card or life insurance, will not pay you the full amount of covid-related medical expenses, because it belongs to the war/pandemic category. At most, the humane reimburse is a few thousand yuan. But your private hospital treatment charges are at least 20,000 per day! And it is paid in cash every day, not after being discharged from the hospital!

The biggest breach of epidemic prevention is when taking off the mask to eat and drink, the virus in the mouth foam will spread through the air to all people who took off the mask within 2-3 meters, including those at the same table and the next table!

The key points that everyone hasn't realized:

1) There are many asymptomatic infections, and many people do not know that they have been infected

2) As long as you eat or drink coffee or drink at the same table with asymptomatic infected people, everyone will definitely take off their masks. Everyone within 2-3 meters must be infected, and then take the virus home and spread the virus to family members in the same room

3) Even if 1,000 people visit the supermarket or mall, everyone will wear masks, and no one will be infected. But even if there are only two people eating/drinking/drinking coffee at the same table, one infected person will definitely pass on to another! So gathering is not the point, but taking off the mask to eat and drink with outsiders (not in the same room).

4) Even if the virus strain was diagnosed last year, it can be treated with steroid and other drugs. The director of health said that the virus strains that are beginning to break out have no effect on steroids, only waiting to die! Or hope to heal naturally.

5) Vaccines for the common cold have been developed by pharmaceutical companies all over the world for decades. They have not yet developed a long-term effective vaccine, but need to be given once a year. The reason is that the common cold virus mutates once a year. Therefore, the cold vaccine is only effective against last year's virus strains, but not against the new virus strains next year.

Summary: Do not eat and drink with any outsiders (not living in the same room), even if it is a meal, a glass of wine, and a cup of coffee.

It doesn't matter if you meet, discuss business, chat, etc., as long as you don't take off your mask! A cup of coffee for a meal may not only kill yourself, but also affect the parents, husbands, wives, and children in the same room!

Remember that the current strain of the virus is drug-free, and the vaccine does not work!

Share it. Even if there is only one person who listens to persuasion, and avoiding death, the merits are infinite.

What a f c k ing glove hater mm and many more

Analyst Certification
I, Heng Siong Kong, hereby certify (1) that the views expressed in this Research report accurately reflect my personal views
about any or all of the subject securities or issuers referred to in this Research report, (2) no part of my compensation was, is or
will be directly or indirectly related to the specific recommendations or views expressed in this Research report and (3) no part of
my compensation is tied to any specific investment banking transactions performed by Nomura Securities International, Inc.,
Nomura International plc or any other Nomura Group company.
Issuer Specific Regulatory Disclosures
The terms "Nomura" and "Nomura Group" used herein refers to Nomura Holdings, Inc. and its affiliates and subsidiaries, including Nomura
Securities International, Inc. ('NSI') and Instinet, LLC('ILLC'), U. S. registered broker dealers and members of SIPC.
Materially mentioned issuers
Issuer Ticker Price Price date Stock rating Sector rating Disclosures
Supermax SUCB MK MYR 5.57 05-May-2021 Buy N/A
Supermax (SUCB MK) MYR 5.57 (05-May-2021) Buy (Sector rating: N/A)
Rating and target price chart (three year history)
Date Rating Target price Closing price
05-May-21 8.39 5.57
30-Jan-21 9.79 6.80
27-Oct-20 12.84 9.57
04-Sep-20 12.50 9.39
10-Aug-20 25.00 10.37
15-Jul-20 Buy 7.37
15-Jul-20 20.42 7.37
20-May-20 Neutral 2.25
20-May-20 5.26 2.25
25-Feb-20 2.15 0.81
28-Jan-20 2.52 0.91
29-Nov-19 1.84 0.66
03-Sep-19 2.11 0.71
01-Apr-19 Buy 0.73
01-Apr-19 2.00 0.73
For explanation of ratings refer to the stock rating keys located after chart(s)
Valuation Methodology Our TP of MYR8.39 is derived from ascribing a target CY22F P/E of 17.5x (+2SD above pre-Covid-19
long term mean). The benchmark index for the stock is KLCI Malaysia.
Risks that may impede the achievement of the target price Key downside risks to our rating are fluctuations in raw material
prices and USD/MYR rate, as well as development of COVID-19 vaccine, which could impact the rubber gloves demand in the
long term.

Management said they have exposure to India, where COVID-19 cases are currently
at very high levels, through partners in different provinces, some of which did contact
lens business with Supermax earlier.
•
In terms of product mix in 3QFY21, NBR (nitrile based rubber) gloves formed 68% of
volume, followed by NR (natural rubber) gloves at 25% and 5%/2% coming from NR
latex and surgical gloves respectively.
•
Management said that before COVID-19 started, 40% of its volume went to own
distribution centres under OBM, followed by 30% to independent distributors in over
165 countries under OBM and 30% to OEM customers. This changed post March
2020 with 58% going to own distribution centres, 40% to independent distributors in
over 165 countries under OBM and 2% to OEM customers, especially to the big US
distributors. Once demand starts to normalise management expects this mix to return
to pre-COVID-19 status.
•
Management reiterated its capacity growth target of reaching 48bn pcs pa by end-
2022 (from ~26bn pcs currently). Plant 12 was fully commissioned in 4QCY20 and
plant 13 to 17 are currently under development.
•
Secondary listing at Singapore exchange has been postponed. The company may still
do some shares buy back due to availability of cash in hand and will consider
distributing its existing treasury shares of 103mn as stock bonus as well.

Rating
Remains Buy
Target price
Remains MYR 8.39
Closing price
05 May 2021 MYR 5.57
Research Analysts
Malaysia Health Care &
Pharmaceuticals
Heng Siong Kong - NSM
hengsiong.kong@nomura.com
+603 2027 6894
Rahul Dohare - NSFSPL
rahul.dohare@nomura.com
+91 22 672 34560

Global Markets Research
6 May 2021
3QFY21 earnings call takeaways
Quick Note
Supermax hosted a 3QFY21 earnings call earlier today. To recap, the quarter’s total
revenue/core profit of MYR1.94bn/MYR1.04bn were up 4x/13x y-y, as resurgence of
COVID-19 in several countries spurred exceptionally high demand, and thus
ASPs, in 3QFY21. The group also realized the full quarter’s contribution from its Plant 12
Block B (2.2bn pcs pa), which commenced in 2QFY21, but pointed out that there was loss
of production output at its Meru plants in Feb 2021 due to COVID-19 cases. The latter led
to both revenue/core earnings declining 3% q-q due to partial shutdown for sanitization.
Below are the key takeaways from the call:
ASPs have peaked in this quarter. Blended ASP per 1,000 pcs for Jan/Feb/Mar was
USD84.6/87.65/89.2. Supermax has orders booked until the end of this year with
advance payment (30%-50% of order value in some cases) collected. Its contractual
orders in hand will help avoid any drastic fall in ASPs for the rest of the year as spot
prices have gone below contracted prices now. Currently, only 5% of its capacity is
allocated to spot orders. Apr-June quarter blended ASP is likely to be in USD80-110
range, while spot prices are already at USD70-80 range.
•
Any order cancellations for the rest of the year will likely be mitigated by the fact that
most of its orders deal directly with end-customers. Current order cancellations are
being seen among independent distributors but Supermax sells directly to end
customers through its own distribution centres. Currently, income share of
manufacturing/distribution stands at 65%/35% at Supermax. However, any new
contracts will likely be negotiated on prevailing spot prices.
•
Management attributes pressure on ASP to new glove manufacturers emerging,
especially in China, which are fast increasing their capacity and selling at lower prices
in order to gain market share. But management is confident that once ASPs have
come down enough, the profitability of these new players will suffer because of higher
production cost (especially the price of natural gas) in China as compared to Malaysia.
•
Due to shutdown in February caused by COVID-19 cases among workers,
management estimates a revenue loss of ~MYR330mn and gross profit loss of
MYR249mn.
•
Management noted that after stabilising in 3QFY21, raw material prices have started
coming down in May by ~USD20-50 per tonne.

In fact Supermax not doing much on spot price due to their own brand doing well and better margin compare to OEM (contract manufacturing)
With or without spot price OBM ASP is already high margin
TG allocated 30% for spot price

ASP dropping will affect all glove maker and OEM will be more impact than OBM
Thus Supermax is the only one doing OBM and the rest all OEM

Garbage collector in action

Last call

pjseow Ben Tan Thanks for compiling the glove export data . I think the most likely scenario is scenario 2 . I estimate the PAT margin to be 58 % . With this margin ,the supermx earning may hit 3.12 x 0.58 = 1.81 billion.

Supermax super green lucky day always Thursday

According to i3 article about Supermax this qtr sales volume
Scenario
1) 3.5 B
2) 3.12 B
3) 2.6 B

Supermax: Can We Derive Revenue for the Quarter? Rubber Glove Exports Up 9.4% Q-o-Q, 260% Y-o-Y
Author: Ben Tan | Publish date: Tue, 4 May 2021, 7:55 PM

Today Hartalega announced its quarterly results for 4Q FY2021. While the financial year results came above consensus estimates (RM2.9 billion vs RM2.5 billion Bloomberg consensus), many felt this quarter's results were rather underwhelming. The reasons for this are probably a topic for an entirely different post that I may never write as I don't like writing negativities about companies, especially not so when it might be largely undeserved. However, Hartalega's report might have given us an opportunity for an early peak at what results Supermax might report. According to rumours, Supermax is expected to announce its quarterly results for the quarter ended 31 March 2021 tomorrow.

Also today, the Department of Statistics released the detailed version of the March 2021 External Trade Statistics. I reported on the brief version of the report when it was released last week here. According to the detailed version, the value of rubber glove exports from Malaysia for the month of March was RM6.395 billion - significantly above an assumption I have made earlier of RM5.9 billion to RM6 billion. That is 9.4% higher than the figure recorded in February, and 260% higher than the export figure for the first month of the pandemic - March 2020.

As Top Glove, Kossan, and Hartalega have already released their quarterly reports, I did a bit of calculating. Some adjustments were needed, because Top Glove's financial quarters end 1 month before the quarters of the other 3 big glove manufacturers in Malaysia. In my calculations I divided the glove exporters in 6 groups: Top Glove, Hartalega, Kossan, Supermax, Second Liners (including Comfort Glove + Careplus + Rubberex), Others.

Based on their financial results, the breakdown of contribution to the national exports by player/group is the following:

Company/Group Q3 CY2020 Q4 CY2020 Q1 CY2021
Top Glove 36.74% 36.70% 33%*
Hartalega 13.52% 15.76% 12.83%
Kossan 9.51% 8.94% 11.68%
Supermax 13.59% 14.79% n/a
Second Liners 4.85%** 4.34%** n/a
Others 21.79% 19.48% n/a
*Top Glove's results are adjusted and potentially known only for the first two months of Q1 CY2021.

**Comfort Glove's results are adjusted as their financial quarters are one month behind the calendar quarters.

The exports of rubber gloves during Q1 CY 2021 were RM5.68 billion in January, RM5.845 billion in February, and RM6.395 billion in March. A total of RM17.92 billion for the quarter.

Based on the above, let's calculate a few scenarios:

Scenario 1: Excellent quarter for Supermax

Assuming that the contribution of the Second Liners and Others will continue to decrease quarter on quarter:

- The contribution of the Second Liners to the total exports for the quarter might be approximately 4%;

- The contribution of Others to the total exports for the quarter might be approximately 19%.

Thus, Supermax will contribute 19.5% of the total value of exports for the quarter. That would make RM3.5 billion revenue from sales of rubber gloves for the quarter.

Scenario 2: Good quarter for Supermax

Assuming the Second Liners and Others will perform in approximately the same way as in the last two quarters:

- The contribution of the Second Liners to the total exports for the quarter might be approximately 4.6%;

- The contribution of Others to the total exports for the quarter might be approximately 20.5%.

With these assumptions in mind, we can calculate that Supermax's contribution might come at approximately 17.4% of the total value of exports for the quarter. That would make RM3.12 billion revenue from sales of rubber gloves for the quarter.

Scenario 3: Average quarter for Supermax

Assuming the Second Liners and Others will perform better than in the last two quarters:

- The contribution of the Second Liners to the total exports for the quarter might be approximately 5%;

- The contribution of Others to the total exports for the quarter might be approximately 23%.

With these assumptions in mind, we can calculate that Supermax's contribution might come at approximately 14.5% of the total value of exports for the quarter. That would make RM2.6 billion revenue from sales of rubber gloves for the quarter.

A quick reminder that last quarter Supermax reported revenue of RM2 billion, and PAT of RM1.07 billion (net profit margin = 53%)

Confirm just out

investingbasics Result out PAT 1.68 B dividens 0.30

Result out PAT 1.68 B dividens 0.30

Will announce best ever ATH 3rd QTR FY21 results on 5th May (this Wednesday) PAT 1.5-1.8 B + dividens 0.30 + share distribution

Short term TP 7-8

stockraider, your sifu must be so hai lou that he didn't tell you that the top 4 glove maker are cash rich , their new expansion capacity are 0 loan and fully automation, any over supply or glove gluts can easily switch off by pressing the button switch off so no issue or extra cost
Extra cash can put in banks for interest return
Bottom line the top 4 still profitable with or without convid after years of bombastic PAT
Dog like you where got brain only human like us got
You must be stu xpid ity to the max

stockraider My sifu told me in economics...if u keep the product prices too high & u continue make super profit....eventually u attract many many more players & competitors...and this will cause the ASP to drop very fast...and eventually it will cause a huge gluts in the industry as all the players are unable to stop or reduce production, bcos of committed fixed or sunked cost loh!

Thus longer run business prospect will be a disaster...they will be shake out loh!