Confirm all steel companies are given the leeway to operate with 10 percent staffs. And some have obtained letter of exemption from Miti to operate 100 percent.

Many steel companies get lockdown exemption including Melewar. Operating 100% as usual.

Censof can be operating as usual during the lockdown period

What sales work needs to do? It is has been done already with RDIF. Why some people can't understand the deal?

Basically I'm fine with the result considering it wasn't too bad, and improving. Good future. Hold.

https://www.malaymail.com/news/world/2021/04/25/russia-reports-8780-new-covid-19-cases-332-deaths/1969336?utm_term=Autofeed&utm_medium=Social&utm_source=Facebook#Echobox=1619341723

If the steel price keep going up, Masteel will make more profits and its shares will keep going up. The right issue at 36 cents with free warrants is attractive

Tomorrow up up up

https://focusmalaysia.my/top/govt-may-unveil-windfall-tax/

Glove companies will move their factories overseas.

https://focusmalaysia.my/top/govt-may-unveil-windfall-tax/
Government is making a big mistake in with this windfall tax

https://focusmalaysia.my/top/govt-may-unveil-windfall-tax/
Government is making a big mistake for long term good of the country

Supermax is the best !

Will after today's fantastic profit announcement by Harta and Supermax their shares drop as per usual style? KLSE is really weird...

@yttihs. Can please add me in. thanks!

DickyMe and hahalolwtf are bloody idiots. Very evil way of making a living. Low lives creating false information.

Those people are RBA, paid cybertroopers tasked to spread fears.

World Markets are down because of the Covid-19 surge especially in Europe.

Growth is a component of value," A business can be be undervalued if the market underestimates its future earnings growth.

Top Glove in international news this weekend
https://www.cnbc.com/2020/09/18/top-glove-sees-strong-growth-ahead-covid-19-sparks-global-demand-surge.html?__source=Facebook

The world’s top disposable-gloves maker is seizing its moment. Malaysia’s $15 billion Top Glove reported a dizzying 18-fold surge in quarterly earnings from a year ago, to $311 million, thanks to a global shortage. The company, already listed at home and in Singapore, has paid down debt, lifted dividends, and is now eyeing a Hong Kong listing to boost its global profile.

https://reut.rs/35Rv52r

MALAYSIACORPORATE
TOP STORIES
Update
Top Glove ends FY20 with RM1.29b net profit, strongest-ever set of results
Justin Lim

theedgemarkets.com

September 17, 2020 14:12 pm +08


-A+A
KUALA LUMPUR (Sept 17): Top Glove Corp Bhd has recorded its best-ever quarterly net profit at RM1.29 billion in the fourth quarter ended Aug 31, 2020 (4QFY20), which is almost 18 times the RM74.17 million posted last year.

Earnings per share surged to 15.95 sen versus 0.97 sen previously, the group’s filing with the local bourse showed.

Quarterly revenue surged 161.5% to RM3.11 billion from RM1.19 billion in 4QFY19.

The board has recommended a final dividend of 8.5 sen per share, bringing the total FY20 dividend payout to 11.8 sen per share. This is 9.3 sen or almost five times the 2.5 sen dividend paid in FY19, and represents a net profit payout ratio of 51%.

The rubber glove maker said the tremendous growth stemmed from a global surge in demand for gloves on the back of the Covid-19 pandemic.

“4QFY20 demand growth was especially strong in Asia, Western Europe and Eastern Europe rising by 110%, 73% and 64% respectively compared with 4QFY19. Most robust was demand for nitrile gloves which grew by 31% year-on-year, while natural rubber examination gloves also saw growth of 7% versus the corresponding period in FY2019. Reflecting market demand, average selling prices (ASPs) were also adjusted upwards,” said Top Glove in a statement.

The improved profit was also attributed to productivity enhancements which Top Glove continued to embark on, while the group’s utilisation levels which remained at close to 100% amplified production efficiency and reaped superior economies of scale. High utilisation helped lower overheads significantly, notably the cost of labour and natural gas.

“Further contributing to the phenomenal results was Aspion Sdn Bhd with a profit before tax of RM139.9 million, as the group started to reap the fruits of its acquisition. The additional capacity provided also helped position Top Glove to meet the upturn in glove demand,” it concluded.

For the cumulative 12-month period of FY20, net profit leapt 412% to RM1.87 billion, from RM364.68 million last year, while revenue rose 50.72% to RM7.24 billion, from RM4.8 billion.

Commenting on the company’s results, Top Glove executive chairman Tan Sri Dr Lim Wee Chai said the group is very pleased to be able to deliver such strong results and even more so, to be in a position to help protect and save lives in Malaysia and all over the world with its gloves, during this critical time.

“Our unprecedented performance underlines the effectiveness of our ongoing technology-driven improvement initiatives, which focus on quality and cost efficiency, and which have enabled us to meet the increase in glove demand. We also credit our robust results to our 21,000 employees, who continued to do their best to ensure the uninterrupted production and delivery of gloves, despite many operational challenges during the lockdown/MCO (Movement Control Order),” Lim added.

Meanwhile, Top Glove noted that the pandemic had adversely impacted several businesses in the country, causing a rise in unemployment.

“However, the strong global glove demand has bolstered the Malaysian economy during this difficult period, with Top Glove intensifying its hiring and providing business to supporting industries.

“In the past year, the group has employed a total of 4,000 local employees, comprising 1,500 local staff and 2,500 local workers to enable it to meet the growing glove demand,” it added.

Top Glove said it will continue to expand its capacity to ensure it is well-positioned to fulfil global glove demand, which is expected to grow from a pre-Covid level of about 10% per annum, to about 15% per annum post-Covid, on the back of increased usage in both the medical and non-medical sectors, as well as heightened hygiene awareness.

“With more upside in glove demand expected, the group also looks forward to fresh highs in FY2021,” it said.

Notably, Factory F41, which is the group’s first factory in Vietnam, is expected to come onstream in October 2020, the initial production capacity for which is approximately 2.4 billion pieces of gloves from its 10 production lines.

On the capex front, the group has earmarked RM8 billion for the next six years, from FY2021 to 2026, which will increase an additional capacity of 100 billion pieces of gloves.

The RM8 billion capex will be invested in new capacity, enhancement of existing manufacturing facilities, a gamma sterilisation plant, land bank for future expansion, Industrial Revolution (IR) 4.0 digitalisation and improvements to its workers’ facilities.

At noon break, Top Glove's share price rose 28 sen or 3.32% at RM8.71, after some 75.10 million shares were done. Its market capitalisation stands at RM69.91 billion.

Those who knows will realise that things are not as simple as many thought. Glove usage will remain high for at least the next 3 years

More gloves are needed for vaccinations process. Immunity against the virus doesn't come immediately upon injection. PPE protections are needed for both the medical staff and vaccine takers

New Zealand population is 4.8 million
Malaysia population is 32 million
India population is 1.3 billion

https://www.themoscowtimes.com/2020/09/15/1-in-7-russian-coronavirus-vaccine-volunteers-report-side-effects-a71444

KUALA LUMPUR: Hartalega Holdings Bhd says demand for rubber gloves won’t be affected by vaccines for the Covid-19 coronavirus and will continue to outstrip supply in the next three to four years.

The pandemic has changed users’ behavior, that has resulted in the demand for gloves, chairman Kuan Kam Hon told reporters. Demand for usage in developed countries have increased 30% while in developing countries, usage has more than doubled, he says.


The industry cannot meet the 120b of additional demand for gloves. This demand can only be fulfilled in three years, he adds.

Spot prices for gloves have jumped 30% this quarter and he expects them to increase 40-50% in coming quarters, he says.

Glove prices are now three times higher compared to those during pre-covid-19.

Hartalega earmarked RM1.5bil investment to build four plants, of which first two lines will be operational by October 2021.

Another RM3bil is for its next expansion phase, its so-called NGC2, which will be fully completed in seven years. - Bloomberg

https://www.moneycontrol.com/news/india/coronavirus-vaccine-current-production-not-enough-will-take-4-5-years-to-vaccinate-everyone-says-adar-poonawalla-5836141.html

https://mothership.sg/2020/09/highest-daily-global-covid-cases/
WHO reports highest 1-day spike of 307,000 Covid-19 cases. Most cases from India, US, & Brazil
Worrying trend.

Julia Yeo | September 14, 2020, 01:10 PM

https://www.usatoday.com/story/news/health/2020/09/13/covid-scientists-white-house-meddling-cdc-mmwr/5787230002/
White House help making pandemic worse....

New Zealand is very old news. Move on....

Rakuten Trade Sdn Bhd research vice-president Vincent Low said the move was driven by bargain hunting in glove counters following the recent sell-offs.

“Glove counters have been oversold over the past week. In the coming week, we foresee that demand for glove stock will be on the rise, indicating a healthy correction,” he said.

Uptrend still on the cards

https://www.malaymail.com/news/money/2020/09/13/uptrend-on-the-cards-for-glove-counters-predicts-analyst/1902764?utm_term=Autofeed&utm_medium=Social&utm_source=Facebook#Echobox=1599970534

Many Chinese don't even trust their own products let alone rushed vaccine, unless it is mandatory. One of most popular items when Chinese tourists bring home from Hong Kong, Australia and New Zealand is Baby Milk Powder because they can't trust their own baby milk powder companies!

https://klse.i3investor.com/blogs/gloveharicut/2020-09-12-story-h1513463147-CIMB_Research_maintain_OVERWEIGHT_on_GLOVE_A_firm_grip_in_the_storm_THK.jsp

Copied from another forum :

Supersinginvestor__ Buller888 @ Buller888...you must know why i want gloves share price to crash..i sold at 6.30 for supermax n bought at 22 before bonus
12/09/2020 10:37 AM

Supersinginvestor__ So i suffer contra loss lah..i took a loan to pay and now the old ahlong wants to fark my mother if i cannot pay
12/09/2020 10:38 AM

Supersinginvestor__ If u r in my shoes u also want the shares to crash n let stanley thai suffer losses loh
12/09/2020 10:38 AM

supersingerinvestor use to have shares in Kossan as I have seen him not long ago promoting there. He must have sold off and lose bunch of money. Now he's changing his tune. Such a low life!

Capitalization to surpass Public Bank and Maybank

Top Glove really TOP!

Stock split behavior confuses billionaire and analysts



September 1, 2020, 4:07 AM·4 mins read

Go to a bank and ask a teller to break a $5 bill into five $1 bills. The bank provides this service for free – you still have $5, but in the market’s view, this actually makes you richer.

This week Apple (AAPL) and Tesla (TSLA) saw their stocks split, so people who owned one share now find themselves holding four in the case of Apple, and five in the case of Tesla. The collective value of these shares, seasoned financial professionals and textbooks point out, has not changed.

On Monday, the day of the split, Apple’s stock was up almost 3.4% and Tesla’s up almost 12.5%. In other words, they are now more valuable than they were before the stock split. It’s hard to say how much of the gains are attributable to the split, but a commonly-held theory is that the cheaper price attracts a wider swath of people who otherwise might not buy a single share for over $2,000.


https://yhoo.it/3hL8h7v

Stock split behavior confuses billionaire and analysts



September 1, 2020, 4:07 AM·4 mins read

Go to a bank and ask a teller to break a $5 bill into five $1 bills. The bank provides this service for free – you still have $5, but in the market’s view, this actually makes you richer.

This week Apple (AAPL) and Tesla (TSLA) saw their stocks split, so people who owned one share now find themselves holding four in the case of Apple, and five in the case of Tesla. The collective value of these shares, seasoned financial professionals and textbooks point out, has not changed.

On Monday, the day of the split, Apple’s stock was up almost 3.4% and Tesla’s up almost 12.5%. In other words, they are now more valuable than they were before the stock split. It’s hard to say how much of the gains are attributable to the split, but a commonly-held theory is that the cheaper price attracts a wider swath of people who otherwise might not buy a single share for over $2,000.


https://yhoo.it/3hL8h7v

Coronavirus: one-third of Americans would refuse vaccine, survey finds

Survey of 27 nations for World Economic Forum found vaccine ‘intent’ to be lowest in Russia and highest in China, with Britain also ranking highly

US respondents against a vaccine cited potential side effects, worries about effectiveness and their own perceived invulnerability to Covid-19

https://www.scmp.com/news/world/united-states-canada/article/3099792/coronavirus-one-third-americans-would-refuse?utm_content=article&utm_medium=Social&utm_source=Facebook#Echobox=1598967470

“Rather than being straight with the American people and creating a national plan to fix the problem, the President and his enablers kept these alarming reports private while publicly downplaying the threat to millions of Americans.”
https://www.facebook.com/97212224368/posts/10159415146664369/

Europe sees sharp rise in the number of new coronavirus cases, as Spain and Russia infections spike
PUBLISHED TUE, SEP 1 20205:25 AM EDTUPDATED 2 HOURS AGO


KEY POINTS
The number of new coronavirus cases reported across the region increased by 5.6% to just over 4 million cases in the week ending August 23, according to data compiled by the WHO.

Those new cases marked a 6% jump compared to the previous week and an increase of 72% compared to the week ending June 7, when the lowest number of cases per week were reported.

“No country can just pretend the pandemic is over,” WHO Director-General Tedros Adhanom Ghebreyesus said during a media briefing on Monday.

Europe has recorded a sharp rise in the number of new Covid-19 infections in recent weeks, reflecting an alarming trend as the World Health Organization warns “no country can just pretend the pandemic is over.”

The number of new coronavirus cases reported across the region increased by 5.6% to a total of just over 4 million cases in the week ending August 23, according to data compiled by the WHO.

Those new cases marked a 6% jump compared to the previous week and an increase of 72% compared to the week ending June 7, when the lowest number of cases per week were reported.

More than half of the new cases reported through the week ending August 23 stemmed from four countries: Spain (21%), Russia (16%), France (10%), and Ukraine (6%). Spain has recorded nearly 463,000 coronavirus cases to date, while Russia’s total number of infections surpassed 1 million on Tuesday.

The resurgence in the number of new cases comes as many countries seek to reopen their economies and get people back to work while also achieving public health goals.

However, the WHO has previously warned a relaxation of public health measures, in addition to people “dropping their guard,” could help to explain the resurgence of the virus across the region.

“WHO fully supports efforts to re-open economies and societies. We want to see children returning to school and people returning to the workplace — but we want to see it done safely,” WHO Director-General Tedros Adhanom Ghebreyesus said during a media briefing on Monday.

“At the same time, no country can just pretend the pandemic is over. The reality is that this coronavirus spreads easily, it can be fatal to people of all ages, and most people remain susceptible,” he added.

Director General of the World Health Organization (WHO) Tedros Adhanom Ghebreyesus attends a news conference on the situation of the coronavirus (COVID-2019), in Geneva, Switzerland, February 28, 2020.
Director General of the World Health Organization (WHO) Tedros Adhanom Ghebreyesus attends a news conference on the situation of the coronavirus (COVID-2019), in Geneva, Switzerland, February 28, 2020.
Denis Balibouse | Reuters
On July 19, Our World in Data’s rolling seven-day average of daily coronavirus cases per million people showed the U.S. reported almost 20 times as many cases as the European Union.

An uptick in the number of infections across the bloc since, in addition to a steady decline in the number of cases confirmed stateside, means the same rolling average now shows the U.S. recording little over three times as many infections compared to the EU.

The U.S. has reported the worst Covid-19 outbreak in the world, with over 6 million confirmed cases of the virus and 183,598 related deaths, according to data compiled by Johns Hopkins University.

Risk of escalation ‘high’
As of August 26, the 14-day case notification rate for the European Union, European Economic Area and the U.K. stood at 46 per 100,000 population, according to the European Centre for Disease Prevention and Control. The rate has been climbing for 38 days.

The ECDC said the Covid-19 mortality rate for the EU, EEA and the U.K. came in at four per million population. The rate has been stable for 53 days.

The latest risk assessment from the ECDC said the risk of further escalation of Covid-19 was “high” in countries that have reported an increase in hospitalizations, “providing a strong indication that there is a genuine increase in transmission occurring.”

The ECDC also said the risk of escalation was “very high” for countries if they fail to reinforce multiple policies, including physical-distancing measures, contact tracing and if they do not have sufficient testing capacity.

The strain, which the World Health Organization said was identified in February and has been circulating in Europe and the Americas, has also been found in neighbouring Singapore and Malaysia. (File pic shows a victim of Cocid -19 in Jakarta - Reuters)

JAKARTA: A more infectious mutation of the new coronavirus has been found in Indonesia, the Jakarta-based Eijkman Institute for Molecular Biology said on Sunday, as the Southeast Asian country's caseload surges.

Indonesia reported 2,858 new infections on Sunday, data by the health ministry showed, below the previous day's record 3,308 but above the past month's daily average. Its total number of cases was 172,053, with 7,343 COVID-19 fatalities.

The "infectious but milder" D614G mutation of the virus has been found in genome sequencing data from samples collected by the institute, deputy director Herawati Sudoyo told Reuters, adding that more study is required to determine whether that was behind the recent rise in cases.

The strain, which the World Health Organization said was identified in February and has been circulating in Europe and the Americas, has also been found in neighbouring Singapore and Malaysia.

Syahrizal Syarif, an epidemiologist with the University of Indonesia, warned Indonesians must remain vigilant, as his modelling suggests the country may see its caseload rise to 500,000 by the end of the year.

"The situation is serious.... Local transmission currently is out of control," Syarif said, adding that the number of infections found daily could have been much higher if laboratories were able to process more specimens in a day.

The capital Jakarta on Sunday saw a record daily increase of more than 1,000 cases, which the city government linked to a higher mobility rate during a mid-August independence celebration.

"There needs to be an awareness and a collective effort, be it from the government or the people, in addressing the rising number of cases," Dwi Oktavia, an official at the Jakarta health agency, said in a statement, urging people to stay at home and wear a face mask when they must go out.

- Reuters

The U.S. Centers for Disease Control and Prevention (CDC) said on Monday the number of deaths due to the coronavirus had risen by 473 to 182,622 and reported 5,972,356 cases, an increase of 37,532 from its previous count.
https://www.facebook.com/114050161948682/posts/3585746484779015/

France's new COVID-19 infections shot up by 50% in August
https://www.reuters.com/article/us-health-coronavirus-france-casualties-idUSKBN25R2FC?utm_campaign=trueAnthem%3A+Trending+Content&utm_medium=trueAnthem&utm_source=facebook

Add on a bit at 1.56

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