What's the catch?
A turnaround with operating profit of RM15,217,000 means a lot for gloves making business of a company which incurred losses for the past one year. It is possibly an indication that gloves making business profitability is back on track.

As before, Kossan always slow to catch up with the rest.

Some people is positive about glove, some are negative, this depends how you look at it.
Gloves stock is alive. Hahaha

Gloves gloves gloves. Crazy!

Right. So it is RM12 million profit before tax write back and impairment loss.

Announcement yesterday was a warning. Expect big drop in the afternoon.

Glasses dropped!

In order for glove ASP to increase, more production facilities for all glove makers would need to be closed to reduce glove supplies to the market while demand slowly back to normal post pandemic.

If I am not mistaken, last QR reported that two regular customers terminated their future orders.

Harta is about to send its old machineries to the junk yard. Will Taiko not do the same?

Decommissioning of facility can possibly happen to other glove makers as well.

As per the announcement:
Further provision for retrenchment costs and contract obligation expenses amounting to a total of approximately RM70 million for FY2024.
RM70 million = 2c per share

RM347 million impairment loss is equivalent to 10c per share.

Sold RM1.91

Disappointing.

Up and down a goreng stock.

Sslee your 500 units kacang putih HY shares is only entitled for one vote not easy to be seen. Perhaps you can request to sit in the front row if you can bluff through the security that you are 29th largest shareholder and raise your two legs and two hands at the same time during votes call.

Because here was having some discussion about contra play.

UlarSawa

27,345 posts

Posted by UlarSawa > 3 minutes ago | Report Abuse

Why need to share Calvin Tan blog leh. You all so anti Calvin Tan one will so good heart sharing Calvin Tan blog meh. Haiyoh. Correct?

Because here was having some discussion about contra play.
---
UlarSawa

27,344 posts

Posted by UlarSawa > 1 hour ago | Report Abuse

Why fifo also ada case study one kah. Beli jual saham is normal transaction only leh. Ned case study one kah. Haiyoh. Correct?

I am just sharing his blog, nothing more.
Why 90% Active Traders & Contra Players are GUARANTEED to Lose
money while only 10% Savvy Investors are making money, Calvin Tan
---------------

UlarSawa

27,343 posts

Posted by UlarSawa > 16 minutes ago | Report Abuse

Haiyoh another one digging Calvin Tan Graveyard lah. Haiyoh. Correct?

Just share a blog from Calvin. True or not I am not sure, don't ask me. Hahaha
P.S. Some people said he ran road already. https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2022-03-28-story-h1620507104-Why_90_Active_Traders_Contra_Players_are_GUARANTEED_to_Lose_money_while

The U.S. has another problem, and we’re not talking about de-dollarization. U.S. regulators have shut down and sold three mid-size U.S. banks since the beginning of March – Silicon Valley Bank, Signature Bank and First Republic. Those failures are the biggest to hit the U.S. since the 2008 financial crisis, even though Washington together with news media is trying to play down the impact.
http://www.financetwitter.com/2023/05/putin-assassination-attempt-here-how-russia-revenge-will-trigger-global-economic-destruction.html

Asean, Middle East, India hop onboard the ‘De-dollarisation Express’
There is an inexorable shift away from the US dollar as the world reserve currency.
https://www.freemalaysiatoday.com/category/highlight/2023/04/14/asean-middle-east-india-hop-onboard-the-de-dollarisation-express/

If dedollarisation process escalates it may push more countries convert their US bonds to gold.

If US raises the nation’s debt limit, but can it solve the economic problem once and for all?

The possibility coming of another black swan cannot be ruled out.
------
May 3, 2023
The Federal Reserve’s decision about whether to continue raising interest rates comes at a fraught economic moment for the United States, with President Biden and Republicans in Congress locked in a standoff over how to raise the nation’s debt limit.

High inflation and instability in the banking system continue to weigh on the United States economy, but a more pressing concern is the prospect of a default. The federal government could be unable to pay all of its bills on time as soon as June 1, Treasury Secretary Janet L. Yellen warned this week, setting the stage for a self-inflicted economic calamity.

Analysts and economists have increasingly warned that a default could send financial markets plunging and tip the United States, and perhaps the global economy, into a recession.

A Treasury official pointed to the debt limit as a top risk facing the economy, saying that failure to raise the borrowing cap would cause a financial crisis of “historic proportion” and a sharp economic contraction that would leave millions of Americans facing unemployment. It would also probably trigger a spike in borrowing costs and prevent Social Security and Medicare beneficiaries from receiving their benefits.

Are you alright?

US has raised its interest rate to above 5%. As its production plant is in US, the cost of production, including raw materials will continue to rise, Amway products will be less affordable to Malaysian consumers in coming years.

Are all those "China man" removed from the board as at today? Or is it just a mistake? Or you have forgotten what you wrote in HY in the past?

By the way, why you still ask questions by writing to the management if you already have this assumption? Refer your past posting below:

Sslee


Posted by Sslee >
Report Abuse

I already cut loss all my HY except 500 units to qualify myself as shareholder. So no harm done, just learn my lesson again never trust mainland china man.

SSslee, thank you for this sharing.


1,449 posts

Posted by Sslee > 5 hours ago | Report Abuse

Good morning Bob,
Will do to include question on 5 Billions Bonds drawdown and where they are used.......

StartOf The Bull,
https://klse.i3investor.com/blogs/Sslee_blog/2020-02-18-story-h1483850146-SC_wants_you_to_participate_effectively_at_an_Annual_General_Meeting.jsp

SC wants you to participate effectively at an Annual General Meeting
Author: Sslee | Publish date: Tue, 18 Feb 2020, 12:42 PM

Some people hate her but she was elected as president of Taiwan.

What do you think about Tsai Ing-wen?

I am referring to Ular.

I think you and anyone else can rebuke him as before. Don't we know this is a public forum? If everybody harassed away and stop writing in the forum then the last person will only be talking to himself.

I don't think a person's behaviour should be judged based on his/her marital status or gender.

Ular why you want to know?

There are more than 10 thousands unit holders of HY, while there are only one corporate affairs manager and a few assistants doing thier works. If only 10% of the minority shareholders write a complaint letter to the management, how likely will the management reply? Or even bother to read it? Most likely these emails will end up in their junk mail folder.

Ular Ular you can ask about me. But I won't tell you. Hahaha

I thought Dragonslayer was a woman, now I know Ular a.k.a. Dragonslayer is a worse actor with gossiping tongue. Hahaha

Ular, yu gila kah? That is his personal matter, how can you request me to ask him? If you want to know you can continue to ask him lah. Jahat betul yu punya mulut. Pui
-------
UlarSawa

27,272 posts

Posted by UlarSawa > 17 minutes ago | Report Abuse

When MikeTikus keluar can you all ask him to reply ular question. His marital status. Keep pestering him then he will malu not to reply lah. Haiyoh. Boleh?

Ular, you practised meditation in a cave for two months? How did you get updates and news from the outide world? Got Internet connection in the cave or not?

What is the effect of writing 26 questions to the management? Will it just ended up in their junk mail folder?

Some youngsters married too young without knowing each other well within less than one year in the end found out can't get along with each. That maybe the reason to divorce.

Divorce pun mau gaduh, apalah.

DJThong planning to attend the investment summit with a bucket of rotten eggs?

Jamban is what stock?

FIFO, I think itu Pang7 punya style lah. When a stock up 10% he masuk, when the volume start dropping at about peak price he lari kuat kuat. Hahaha. I am just saying

The US owes much of its political and economic muscle to the dollar, which it has effectively used in its financial warfare to win wars even without firing a bullet. The US and its allies tried the same tactic to subdue Russia in the Ukraine conflict. But in doing so, they unwittingly set off an international movement to overthrow the mighty dollar. Washington froze a whopping $300 billion of Moscow’s foreign reserves defying sovereign guarantees and cut off its banks from the global financial messaging system known as SWIFT. However, the sanctions not only boomeranged but also stoked fears, especially in the Global South, that the dollar could permanently become an overt tool to pile up political pressure on any nation that does not acquiesce to Western diktats.

The United States has repeatedly exploited the ‘privilège exorbitant’ of the dollar to bully the nations choosing to remain neutral in geopolitical confrontations by stoking poverty and political instability through crippling economic sanctions. In a de-dollarised financial world, the US would not be able to use sanctions as coercion to achieve outcomes that serve its interest. Payment in local currency, or vostro account in regional currencies, would minimise the risk of sanctions undermining an economy.

The dollar is the global reserve currency, which gives the United States exclusive power to not only increase the money supply by printing more currency bills, but also the prerogative to “print” commodities it needs. Global financial circles have long resented the outsized role of the dollar that gives the US ability to “print” oil by printing dollars. Transactions in alternate currencies would rationalise the dollar demand and limit the American power to “print” commodities and instead compete fairly in global trade.

The dollar’s superpower is a huge nuisance for the developing nations that have seen the cost of living rise, debt-servicing burdens pile up, and poverty deepen. Sri Lanka is a case in point. The island nation defaulted on its dollar debt after the soaring greenback stymied its ability to repay. Pakistan is also struggling to avoid sovereign default amid dwindling foreign exchange reserves while the runaway dollar has pushed food inflation and cost of living to an all-time high. Payment in local currency, or vostro accounts, may improve the developing nations’ debt service capacity by making revenues more predictable and less prone to exchange rate instability.
- WikiFx -

I think Stockraider also got MBSB. Hope he doesn't rock the boat until MBSB become a stool raider.